significantly related to higher working effort but not to risk taking. They also seem to induce fund managers to rely more on …This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly … fundamental information. Findings within regions are confirmed by Trans-Atlantic evidence as US fund managers receive larger …

corroborate these findings to reveal more pronounced effects when fund managers have stronger career incentives and are less …

to higher working effort but not to risk-taking. They also seem to induce fund managers to rely more on fundamental …This questionnaire survey of fund managers in USA, Germany, and Switzerland documents a distinctly positive influence … information. Findings within regions are confirmed by Transatlantic evidence as US fund managers receive larger bonuses but also …

This paper investigates how precautionary trading behavior of fund managers induced by a higher junior fee component in … from Collateralized Loan Obligation (CLO) funds, we find that fund managers with a higher ratio of subordinate fee to total … fees are more likely to sell downgraded loans. Fund managers exhibit such precautionary trading behavior even when …

replace fund managers ranked at the bottom of fund families in terms of performance and flows. While this study does not … observe any spillover effect of replacing bottom performing managers, the replacement of top performing managers generates … replacement of bottom performing managers explain future families' performance and money flows, suggesting that there is economic …

2008 financial crisis. Strong and weak banks also stand apart: managers from weak banks took more risk than their peers in …This paper solves the dynamic investment problem of a risk averse agent compensated with a performance related bonus … principal experiences financial stress. Thus weaker financial corporations explain the downwards trend in risk-taking after the …

real business data. Our data set covers management teams and single managers of US equity mutual funds. Our results reject … the group shift theory and support the diversification of opinions theory: extreme opinions of single team managers … investment styles and their portfolios are less industry concentrated than those of single managers and that teams are eventually …