This paper documents that mutual fund managers who experience distress in one fund tend to subsequently take on more risk in other funds they manage. Specifically, portfolio managers decrease the cash holdings and increase the systematic risk component in their linked funds. This increased...

We study the role of race and ethnicity in the investment decisions of mutual fund managers and investors. Funds managed by white-dominant teams allocate larger portfolio weights to firms led by white CEOs compared to funds managed by minority-dominant teams. Nevertheless, white-dominant fund...

Die Renditen von Hedgefonds können nur unzulänglich anhand von traditionellen Faktormodellen erklärt werden, da Hedgefonds dynamische Handelsstrategien verfolgen und ihre Renditen nur gering mit den Renditen traditioneller Asset-Klassen korreliert sind. Hedgefonds erzielen jedoch keinesfalls...

This study analyzes the loss potential arising from investments into CDS and CDS use-induced risk and performance implications for a sample of large U.S. and German mutual funds. For several funds in the U.S., the regulatory potential losses arising from selling CDS protection are almost as high...

This study shows how the investor sentiment in the stock market affects prices of commodity exchange-traded funds (ETFs). The study provides quantitative evidence that the tracking errors of commodity ETFs differ in the bullish versus the bearish stock market, and the aggregate tracking error of...

Risiken von Hedgefonds: Forschungsansätze und Erkenntnisse der aktuellen Kapitalmarktforschung Dieser Artikel gibt einen aktuellen Überblick über Forschungsansätze, die darauf abzielen, Risiken von Hedgefonds zu quantifizieren. Neben dem aktuellen Stand der Forschung zu den...

Portfolio Complexity and Herd Behavior: Evidence from the German Mutual Fund Market We examine the herd behavior among equity funds in Germany based on a large sample of funds from 2000 to 2009. We show that a large portion of the detected herding can be explained by identical trading among...

India's goal of net-zero emissions by 2070 is a significant step towards addressing climate change. Green financing, a practice directing financial resources from sectors like banking, micro-credit, insurance, and investment towards projects with positive environmental and social impacts, is...

This article aims to investigate whether institutional investors aid in lowering the cost of debt using a sample of 311 nonfinancial firms listed on the Stock Exchange of Thailand (SET) over 2011-2020. All data were obtained from the SETSMART database. Controlling for firm characteristics,...

Although fallen into disrepute Corporate financing in the form of private equity has developed into a billion-dollar industry. Private equity arose from the need for alternative financing options and has had a long lasting impact on the economy and society. Companies of this sector, which is...