Narrow search
Showing 1 - 10 of 38,333
Cover Image
Bonus payments and fund managers' behavior: Trans-Atlantic evidence
Gehrig, Thomas P.; Lütje, Torben; Menkhoff, Lukas - 2008
This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly positive influence of bonus payments on investment behavior on both sides of the Atlantic. Higher bonus payments are significantly related to higher working effort but not to risk...
Persistent link: https://www.econbiz.de/10010275801
Cover Image
The use of technical analysis by fund managers: International evidence
Menkhoff, Lukas - 2010
The use of technical analysis by financial market professionals is not well understood. This paper thus analyzes survey evidence from 692 fund managers in five countries, the vast majority of whom rely on technical analysis. At a forecasting horizon of weeks, technical analysis is the most...
Persistent link: https://www.econbiz.de/10010270396
Cover Image
CEO Incentives and Institutional Trader Monitoring are Substitutes : Theory and Evidence
Chen, Brandon - 2012
The traditional view on CEO pay suggests that the use of equity-based incentives (e.g., stocks and options) should … relative sense, when comparing with CEOs' non-equity-based incentives (e.g., bonus). We confirm our model's prediction to show … that the use of equity-based incentives actually falls when institutional traders impound more information in stock prices …
Persistent link: https://www.econbiz.de/10013116442
Cover Image
Do Institutional Incentives Distort Asset Prices?
Lines, Anton - 2016
without direct benchmarking incentives show no effect. My findings cannot be explained by fund flows and thus constitute a new …
Persistent link: https://www.econbiz.de/10012978817
Cover Image
Dynamic Incentives for Buy-Side Analysts
Deb, Rahul - 2020
We develop a dynamic adverse selection model where a career-concerned buy-side analyst advises a fund manager about investment decisions. The analyst's ability is privately known, as is any information she learns over time. The manager wants to elicit information to maximize fund performance...
Persistent link: https://www.econbiz.de/10012849367
Cover Image
New Active Blockholders and Adjustment of CEO relative incentive ratios
Nguyen, Lan Phuong; Galpin, Neal; Twite, Garry J. - 2021
We study the emergence of blockholders as an important mechanism that corrects deviations from target CEO relative debt-to-equity incentive ratios. We find that a new active blockholder more likely emerges when a firm deviates from target; deviations fall during the period the blockholder owns...
Persistent link: https://www.econbiz.de/10014361720
Cover Image
Will women be women?: analyzing the gender difference among financial experts
Beckmann, Daniela; Menkhoff, Lukas - 2008
There are robust gender differences in the domains of risk taking, overconfidence and competition behavior. However, as expertise tends to level these differences, we ask whether financial experts still show gender dissimilarities in their domains of decision making? We analyze survey responses...
Persistent link: https://www.econbiz.de/10010264941
Cover Image
Once a trader, always a trader: The role of traders in fund management
Cici, Gjergji; Schuster, Philipp; Weishaupt, Franziska - 2024
Mutual fund families are increasingly assigning traders to manage corporate bond mutual funds. Using this setting to study the role of traders in investment management, we document that trader managers identify and exploit short-term trading opportunities at lower transaction costs. These skills...
Persistent link: https://www.econbiz.de/10014470145
Cover Image
In Military We Trust : The Effect of Managers' Military Background on Mutual Fund Flows
Cochardt, Alexander Elmar; Heller, Stephan; Orlov, Vitaly - 2020
This paper shows that trust-building characteristics of fund managers affect purchase decisions of mutual fund investors. We exploit variation in fund managers' prior affiliations with the well-trusted U.S. military institution and relate it to fund flows. Results show that funds with...
Persistent link: https://www.econbiz.de/10012850605
Cover Image
Once a trader, always a trader : the role of traders in fund management
Cici, Gjergji; Schuster, Philipp; Weishaupt, Franziska - 2024
Mutual fund families are increasingly assigning traders to manage corporate bond mutual funds. Using this setting to study the role of traders in investment management, we document that trader managers identify and exploit short-term trading opportunities at lower transaction costs. These skills...
Persistent link: https://www.econbiz.de/10014467713