Narrow search
Showing 1 - 10 of 1,091
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
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
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
Are momentum traders different? Implications for the momentum puzzle
Menkhoff, Lukas - 2010
This paper examines the puzzlingly high unexploited momentum returns from a new perspective. We analyze characteristics of momentum traders in a sample of 692 fund managers. We find that momentum traders are 'defined' by their short-term horizon, by a behavioural view on the market and by a...
Persistent link: https://www.econbiz.de/10010270394
Cover Image
Bonus payments and fund managers' behavior : Trans-Atlantic evidence
Gehrig, Thomas (contributor); Lütje, Toben (contributor);  … - 2008
performance assessment. -- Fund managers ; incentives ; fundamental information …
Persistent link: https://www.econbiz.de/10003784035
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/10003961008
Cover Image
Managerial ownership changes and mutual fund performance
Martin, Thorsten; Sonnenburg, Florian - 2015 - This draft: August 2015
We study the dynamics of fund manager ownership for a sample of U.S. equity mutual funds from 2005 to 2011. We find that ownership changes positively predict changes in future risk-adjusted fund performance. A one-standarddeviation increase in ownership predicts a 1.6 percent increase in alpha...
Persistent link: https://www.econbiz.de/10011526141