Showing 1 - 7 of 7
Persistent link: https://www.econbiz.de/10009533847
Persistent link: https://www.econbiz.de/10009242929
Persistent link: https://www.econbiz.de/10009752216
Persistent link: https://www.econbiz.de/10009708335
Persistent link: https://www.econbiz.de/10003831431
Persistent link: https://www.econbiz.de/10009317575
We propose a model where investors hire fund managers to invest either in risky bonds or in riskless assets. Some managers have superior information on the default probability. Looking at the past performance, investors update beliefs on their managers and make firing decisions. This leads to...
Persistent link: https://www.econbiz.de/10012463750