The Effects of Mutual Fund Managers’ Characteristics on Their Portfolio Performance, Risk and Fees

Golec, Joseph H.

doi:10.1016/s1057-0810(96)90006-2

Cited by 228 publications

(222 citation statements)

References 7 publications

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“…For instance, wisdom is a character trait that is most likely linked to reason, as the search for wisdom is directly linked to reason and truth. Reason and truth come from many different sources, but in this case study, consider that approximately 65% of all mutual fund managers have their MBA [21]. Similarly, multiple studies conclude that an equal percentage also have their CFA designation, which allows one to determine that the majority of mutual fund managers have adequate education and the ability to generate additional wisdom through reasoning [22].…”

Section: Case Studymentioning

confidence: 92%

A Return to Objective Ethics in Business Education: A Faith Based Argument for Plato’s Virtue Ethics

Ola

Sartell²

2014

OJBM

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Business ethics is an idea that many students and practitioners believe cannot exist together, often the result of religious underpinnings and philosophical debates deemed too "soft". It is our belief, however, that business ethics is quite relevant given the current landscape and that a new model should be introduced immediately to all business schools that hope to produce future business leaders, not just business people. This model implements proven neurological traits inherent to all people into widely accepted virtue-based ethical teaching of the world's major religions, and by doing so, a new framework for teaching what was once an awkward discipline into an interactive, highly-applicable theory.

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Section: Case Studymentioning

confidence: 92%

A Return to Objective Ethics in Business Education: A Faith Based Argument for Plato’s Virtue Ethics

Ola

Sartell²

2014

OJBM

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“…The sample of Table 4 is (1996). Golec (1996) finds better performance of fund managers with MBA degree, indicating the better stock picking ability of fund managers with higher educational background.…”

Section: The Timing and Stock Picking Ability Persistence Of Winner Fmentioning

confidence: 93%

The Performance Persistence of Winner Fund Managers - Evidence from the Timing and Stock Picking Ability

Liu

2017

Asian Economic and Financial Review

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Article History JEL Classification G10, G11.This study aims to investigate the persistence of timing and stock picking ability of "winner fund managers" instead of winner funds. The sample of this study is the previous and next equity funds which the same fund managers manage in Taiwan. we measure the ranking of timing and stock picking ability of fund managers for the period they manage the specific fund. The result shows that for the whole fund managers, the successive two funds they manage are performance persistent. Moreover, the stock picking ability of the two funds they manage is persistent no matter the two funds belonging to the same fund company or not. Regarding the winner fund manager, we find no persistence of return, timing ability and stock picking ability. No matter the winner fund managers change the jobs to the other fund companies or not, the next funds the winner fund managers manage are not timing and stock picking ability persistent. The result of logistic regression demonstrates that the probability of becoming timing or stock picking winners of the next funds which the timing or stock picking winner managers manage is not significantly higher than other funds. The result indicates that investors do not necessarily follow the timing and stock picking winner fund managers. The performance of the next funds which the winner fund managers manage may reverse especially for the successive two funds belonging to the same fund company. Little literature investigates the issue regarding the fund timing and stock picking performance from the viewpoint of "fund managers". The results of this study provide investing implications for fund investors when they are choosing funds.

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“…Thus, we include, F undAge i,t−1 , defined as the logarithm of fund i's age in years, and F undSize i,t−1 , defined as the logarithm of a fund's total net-assets in million USD (TNA), in our regression. Golec (1996) shows that trading activity is related to fund risk. Thus, we also include a fund's yearly turnover rate, T urnover i,t−1 .…”

Section: Risk Takingmentioning

confidence: 99%

Sex Matters: Gender Differences in a Professional Setting

Niessen-Ruenzi,

Ruenzi

2007

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in JEL-Classification Codes: G23, J2, J71Keywords: Gender Differences; Mutual Funds; Risk Aversion; Stereotyping; * Niessen: University of Cologne, Department of Corporate Finance and Centre for Financial Research (CFR), Albertus-Magnus Platz, 50923 Cologne, Germany, Tel: +49 (0)221 470 7878 Sex Matters: Gender Differences in a Professional SettingAbstract This paper shows that gender differences exist in a professional setting where managers have a similar educational background and work experience. Using data from the U.S. mutual fund industry we find that female managers are more risk averse, follow less extreme and more consistent investment styles and trade less than male managers. Although female and male managers do not differ in average performance, female managers receive significantly lower inflows. This suggests that they might be stereotyped as less skilled. Furthermore, they mainly work in companies that are large, well established and that are located in less conservative states of the U.S.

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The Effects of Mutual Fund Managers’ Characteristics on Their Portfolio Performance, Risk and Fees

Cited by 228 publications

References 7 publications

A Return to Objective Ethics in Business Education: A Faith Based Argument for Plato’s Virtue Ethics

A Return to Objective Ethics in Business Education: A Faith Based Argument for Plato’s Virtue Ethics

The Performance Persistence of Winner Fund Managers - Evidence from the Timing and Stock Picking Ability

Sex Matters: Gender Differences in a Professional Setting

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