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Till death (or divorce) do us part : early-life family disruption and fund manager behavior

Betzer, André; Limbach, Peter; Rau, P. Raghavendra; … - 2019

We show that early-life family disruption (death or divorce of a parent) causes fund managers to be more risk averse …-treated managers. This effect is most pronounced for managers who experienced family disruption during their formative years or who had …

Persistent link: https://www.econbiz.de/10011989092

Till death (or divorce) do us part : early-life family disruption and fund manager behavior

Betzer, André; Limbach, Peter; Rau, P. Raghavendra; … - 2019

We show a long-lasting association between a common societal phenomenon, early-life family disruption, and investment …

Persistent link: https://www.econbiz.de/10012123271

Birth order and fund manager's trading behavior : role of sibling rivalry

Agarwal, Vikas; Cochardt, Alexander Elmar; Orlov, Vitaly - 2022

This paper investigates the role of birth order on managerial behavior using rich data on familial background of US mutual fund managers. We find that managers who are born later in the sibling hierarchy take on more investment risks relative to first-born managers, but perform worse. Motivated...

Persistent link: https://www.econbiz.de/10013466616

Mutual fund flows, expected returns, and the real economy

Jank, Stephan - 2011 - First draft: December 4, 2010, This draft: February 7, 2011

The paper explores whether the co-movement of market returns and equity fund flows can be explained by a common response to macroeconomic news. I find that variables that predict the real economy as well as the equity premium are related to mutual fund flows. Changes in dividend-price ratio...

Persistent link: https://www.econbiz.de/10008902922

Is a team different from the sum of its parts? : evidence from mutual fund managers

Bär, Michaela; Kempf, Alexander; Ruenzi, Stefan - 2005

family characteristics as well as manager characteristics. Additionally, teams exhibit a lower active share and lower risk …

Persistent link: https://www.econbiz.de/10009524811

Mutual fund investment horizon and performance

Lan, Chunhua; Moneta, Fabio; Wermers, Russ - 2015

This paper proposes several new holdings-based measures of fund investment horizon, and examines the relation between manager skills and fund holding horizon. We find that both aggregate holdings and trades of long-horizon funds are informative about superior future long-term stock returns,...

Persistent link: https://www.econbiz.de/10011307799

Performance inconsistency in mutual funds : an investigation of window-dressing behavior

Agarwal, Vikas; Gay, Gerald D.; Ling, Leng - 2012 - First Version: March 31, 2011, This version: February 7, 2012

This paper develops two measures of performance inconsistency based on information derived from funds' actual performance and their disclosed portfolio holdings. Using these measures, we show that funds with unskilled managers and poor performance are associated with greater inconsistency....

Persistent link: https://www.econbiz.de/10009705456

Institutional investors and mutual fund governance : evidence from retail-institutional fund twins

Evans, Richard B.; Fahlenbrach, Rüdiger - In: The review of financial studies 25 (2012) 12, pp. 3530-3571

Persistent link: https://www.econbiz.de/10009714158

Which factors matter to investors? : evidence from mutual fund flows

Barber, Brad M.; Huang, Xing; Odean, Terrance - In: The review of financial studies 29 (2016) 10, pp. 2599-2642

Persistent link: https://www.econbiz.de/10011611016

Family matters : ranking within fund families and fund inflows

Kempf, Alexander; Ruenzi, Stefan - 2004

This paper examines the influence of the position of a fund within its family on its subsequent net-inflows. Our … empirical study of the US equity mutual fund market shows that reaching a top position within the family leads to large inflows … moves into the top positions within its family from one year to another. These results lead to competition within the fund …

Persistent link: https://www.econbiz.de/10009524827

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