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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

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

Overconfidence among professional investors : evidence from mutual fund managers

Pütz, Alexander (contributor); Ruenzi, Stefan (contributor) - 2008

We examine overconfidence among equity mutual fund managers. While overconfidence has been extensively documented among retail investors, evidence from professional investors is scarce. Consistent with theories of overconfidence, we find that fund managers trade more after good past performance....

Persistent link: https://www.econbiz.de/10003783625

Status quo bias and the number of alternatives : an empirical illustration from the mutual fund industry

Kempf, Alexander; Ruenzi, Stefan - 2005

We examine the extent of the Status Quo Bias (SQB) in a real-world repeated decision situation. Individuals who are subject to a SQB tend to choose an alternative that was chosen previously (i.e. their status quo), even if it is not the optimal choice any more. We examine the US equity mutual...

Persistent link: https://www.econbiz.de/10009524814

Overconfidence among professional investors : evidence from mutual fund managers

Pütz, Alexander (contributor); Ruenzi, Stefan (contributor) - 2010 - First Version: August 2007, This Version: November 2010

Persistent link: https://www.econbiz.de/10009705513

Tail risk in hedge funds : a unique view from portfolio holdings

Agarwal, Vikas; Ruenzi, Stefan; Weigert, Florian - 2015 - This Version: May 10, 2015

We develop a new tail risk measure for hedge funds to examine the impact of tail risk on fund performance and to identify the sources of tail risk. We find that tail risk affects the cross-sectional variation in fund returns, and investments in both, tailsensitive stocks as well as options,...

Persistent link: https://www.econbiz.de/10011308031

Rapid Trading bei deutschen Aktienfonds : Evidenz aus einer großen deutschen Fondsgesellschaft

Fang, Jieyan; Ruenzi, Stefan - 2009

danach. -- Investmentfonds ; Rapid Trading ; Fondsskandal …

Persistent link: https://www.econbiz.de/10003857803

Mutual fund growth in standard an specialist market segments

Ruenzi, Stefan - 2005

This paper is concerned with differences in the performance-flow relationship (PFR) between standard and specialist market segments of the mutual fund industry. We expect differences in this relationship because investor characteristics might vary across different segments. Our results show that...

Persistent link: https://www.econbiz.de/10009524813

Tournaments in mutual fund families

Kempf, Alexander; Ruenzi, Stefan - 2004

position within their fund family. The direction of the adjustment crucially hinges on the competitive situation within a … family. Funds from small families behave in the opposite way than funds from large families. The results are very robust …

Persistent link: https://www.econbiz.de/10009524829

On the usability of synthetic measures of mutual fund net-flows

Ber, Silke; Ruenzi, Stefan - 2006

Due to a lack of data availability, numerous empirical studies on mutual fund flows (e.g. Sirri/Tufano (1998)) analyze synthetically derived flow measures. We show how good these measures can explain actual flows. We compare the measures suggested in the literature with the actual net-flows of...

Persistent link: https://www.econbiz.de/10009525171