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control for the Perception Effects. However, if we consider these effects, we find support for the theory. The isolated … distinguish between Real Tax Effects and Perception Effects when a proportional income tax, with and without a full loss offset … Perception Effects can explain the unexpected behavior observed in previous studies and has both scientific and political …
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The literature assessing whether mutual fund managers have skill typically regards skill as an immutable attribute of the manager or the fund. Yet, many measures of skill, such as returns, alphas, and measures of stock-picking and market-timing, appear to vary over the business cycle. Because...
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The question of whether and how mutual fund managers provide valuable services for their clients motivates one of the largest literatures in finance. One candidate explanation is that funds process information about future asset values and use that information to invest in high-valued assets....
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The question of whether and how mutual fund managers provide valuable services for their clients motivates one of the largest literatures in finance. One candidate explanation is that funds process information about future asset values and use that information to invest in high-valued assets....
Persistent link: https://www.econbiz.de/10012463199
We study three fundamental components of financial agency settings: Perception and communication of investment profiles …, the interaction of agents’ and clients’ preferences, and the role of (non-)monetary incentives. The perception of …
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triggered by the global events on the stock markets since the middle of the last decade: - Why do crashes happen when in theory … approaches to finance and investing, i.e., modern portfolio theory and behavioral finance, and provides an overview of stock … can be downloaded at extras.springer.com. In this book modern portfolio theory meets behavioral finance, resulting in new …
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