Narrow search
Showing 1 - 10 of 7,103
Cover Image
Hedge fund alphas : do they reflect managerial skills or mere compensation for liquidity risk bearing?
Gibson, Rajna; Wang, Songtao - 2008
This article analyzes the effect of liquidity risk on the performance of various hedge fund portfolio strategies. Similarly to Avramov et al. (2007), we find that, before accounting for the effect of liquidity risk, hedge fund portfolios that incorporate predictability in managerial skills...
Persistent link: https://www.econbiz.de/10003966170
Cover Image
Investment Horizons, Systematic Risk, and Managerial Skills of Institutional Investors
Chen, Jiun-Lin - 2018
We examine the relationship between portfolio risk and equity returns over different investment horizons of institutional investors. Compared to long-term institutions, portfolios held by short-term institutions exhibit higher factor loadings in market, size, and momentum. In particular, they...
Persistent link: https://www.econbiz.de/10012928303
Cover Image
The dark and the bright side of liquidity risks : evidence from open-end real estate funds in Germany
Fecht, Falko; Wedow, Michael - 2009
We use a unique and comprehensive data set on open-end real estate funds in Germany to study a liquidity crisis that …
Persistent link: https://www.econbiz.de/10003882920
Cover Image
Locus of control and investment in risky assets
Salamanca, Nicolás; Grip, Andries de; Fouarge, Didier; … - 2016
We show that household heads with a strong internal economic locus of control are more likely to hold equity and hold a larger share of equity in their investment portfolio. This relation holds when we control for economic preferences and possible confounders such as financial literacy,...
Persistent link: https://www.econbiz.de/10011594548
Cover Image
Institutional herding and risk-return relationship
Huang, Teng-Ching; Wu, Ching-Chih; Lin, Bing-huei - In: Journal of business research : JBR 69 (2016) 6, pp. 2073-2080
Persistent link: https://www.econbiz.de/10011471695
Cover Image
Not All Herding is the Same : Mutual Fund Active and Passive Herding to Anticipated Risks and Risk Shocks
Beardsley, Xiaoxin; Marlo, Tim; Wang, Jianling - 2022
Applying previous theoretical predictions on herding and market signals, we examine mutual fund herding from a … measure fund herding using cosine similarity of liquidity-adjusted trades and classify funds into five groups with … Independents in the middle. Not all herders are the same as funds with different herding tendencies vary significantly in …
Persistent link: https://www.econbiz.de/10013492651
Cover Image
Institutional Herding and Financial Market Uncertainty
Bu, Hui; Gu, Chen; Guo, Xu; Stan, Raluca - 2023
This study investigates the role of financial market uncertainty in institutional herding and its impact on stock … prices. We show that financial market uncertainty is a determinant of institutional herding. Fund managers tend to follow the … trades of other managers more frequently during high uncertainty periods than low uncertainty periods. We find that herding …
Persistent link: https://www.econbiz.de/10014353713
Cover Image
Political uncertainty and institutional herding
Gavriilidis, Konstantinos; Kallinterakis, Vasileios Bill; … - In: Journal of corporate finance 88 (2024), pp. 1-28
Persistent link: https://www.econbiz.de/10015071106
Cover Image
Flight-to-Liquidity, Market Uncertainty, and the Actions of Mutual Fund Investors
Ben-Rephael, Azi - 2017
We explore the trading decisions of equity mutual funds during ten periods of extreme market uncertainty. We find that mutual funds reduced their aggregate holdings of illiquid stocks. Exploring the drivers behind this result reveals that this is mainly driven by larger withdrawals from funds...
Persistent link: https://www.econbiz.de/10012975130
Cover Image
Mutual funds herding behavior, sentiment, and market volatility
Kholdy, Shady; Miller, John; Sun, Libo - In: The journal of wealth management : JWM 24 (2021) 2, pp. 92-107
Persistent link: https://www.econbiz.de/10012613519