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Performance incentive fees : an agency theoretic approach

Starks, Laura T. - In: Journal of financial and quantitative analysis : JFQA 22 (1987) 1, pp. 17-32

Persistent link: https://www.econbiz.de/10001023055

How much should you pay your portfolio manager?

Lioui, Abraham - 1995

Persistent link: https://www.econbiz.de/10000931720

Three essays on information and incentives

Bierbaum, Jürgen - 2003 - 1. Aufl.

Persistent link: https://www.econbiz.de/10001749188

Investment Choice with Managerial Incentive Schemes

Sarkar, Shubhro - 2020

In this paper, we show that firms might get an additional strategic benefit from using marginal-cost-reducing investments in conjunction with a managerial incentive scheme. While both these instruments allow firms to “aggressively” participate in product market competition, we show that they...

Persistent link: https://www.econbiz.de/10012848382

Double Bonus? Implicit Incentives for Money Managers with Explicit Incentives

Gregoire, Vincent - 2019

We use a unique dataset of European performance-fee mutual funds to examine the interaction between explicit incentives … (performance fees) and implicit incentives (fund flows) of asset managers. Funds with performance fees face substantially steeper … implicit incentives compared to non-performance-fee funds. Among performance-fee funds, investors' flows depend on the …

Persistent link: https://www.econbiz.de/10012901776

Which Incentives Do Portfolio Managers' Compensations Induce?

Wang, Yanjie; Xu, Jing - 2022

Mutual fund managers' compensation packages often contain relative performance-dependent components such as year-end bonus. We examine the incentive effect of such compensation structure using a dynamic trading model with uncertain expected return and costly information. We show that relative...

Persistent link: https://www.econbiz.de/10014238831