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The Moderating Effect of Relative Performance Evaluation on the Risk Incentive Properties of Executives' Equity Portfolios
Park, Hyungshin - 2015
effect of risk-taking incentives on both the magnitude and composition of firm risk. We find that when the incentive design … lacks RPE features, the incentive portfolio vega motivates CEOs to increase total risk through the systematic component … because it can be hedged. In contrast, when the incentive design includes RPE features, CEOs prefer idiosyncratic risk because …
Persistent link: https://www.econbiz.de/10013019246
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The Moderating Effect of Relative Performance Evaluation on the Risk Incentive Properties of Executives’ Equity Portfolios
Park, Hyungshin - 2016
effect of risk-taking incentives on both the magnitude and composition of firm risk. We find that when the incentive design … lacks RPE features, the incentive portfolio vega motivates CEOs to increase total risk through the systematic component … because it can be hedged. In contrast, when the incentive design includes RPE features, CEOs prefer idiosyncratic risk because …
Persistent link: https://www.econbiz.de/10012997638
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Portfolio KVA : I Theory
Green, Andrew David - 2015
the risk of the whole portfolio including KVA across all counterparty positions. Hence there are entity level aspects of …
Persistent link: https://www.econbiz.de/10013031952
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The impact of different default triggers on CMBS risk evaluation
Christopoulos, Andreas D. - In: Journal of investment management : JOIM 15 (2017) 2, pp. 65-91
Persistent link: https://www.econbiz.de/10011700690
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Chapter 21 : Behavioral Aspects of Portfolio Investments
Mauck, Nathan - 2017
generate alpha of roughly zero on a risk-adjusted basis. The fees involved in investing in such funds exacerbate the observed …
Persistent link: https://www.econbiz.de/10012954545
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Chapter 20 : Traditional Asset Allocation Securities: Stocks, Bonds, Real Estate, and Cash
Milliken, Christopher - 2017
Asset allocation models have evolved in complexity with the development of modern portfolio theory, but they continue to operate under the assumption of investor rationality and other assumptions that do not hold in the real world. For this reason, academics and industry professionals make...
Persistent link: https://www.econbiz.de/10012954547
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Chapter 19 : Individual Biases in Retirement Planning and Wealth Management
Brewer, James E. - 2017
Around the globe, the gradual move from defined benefit pensions to defined contribution pensions has increased the need for individual retirement planning. Examples of this include U.S. savings rates at historic lows, poor retirement prospects for citizens in developed countries, and the...
Persistent link: https://www.econbiz.de/10012954549
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Chapter 8 : Portfolio Managers
Devos, Erik - 2017
: overconfidence, herd mentality, risk-taking behavior, and disposition effect. The chapter also contrasts the gender differences of …
Persistent link: https://www.econbiz.de/10012954973
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Chapter 23 : Behavioral Portfolio Theory and Investment Management
Rengifo, Erick W. - 2014
This chapter focuses on the attitude of investors toward financial gains and losses and their decisions on wealth allocation, and how these changes are subject to behavioral factors. The focal point is the integration of behavioral elements into the classic portfolio optimization. Individual...
Persistent link: https://www.econbiz.de/10013053271
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Chapter 22 : Diversification and Asset Allocation Puzzles
Georgarakos, Dimitris - 2014
Asset allocation and portfolio diversification decisions have important welfare and policy implications. This chapter reviews studies that examine three key aspects of financial investing: participation in stock markets, portfolio diversification, and trading behavior. Standard finance theory...
Persistent link: https://www.econbiz.de/10013053275