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Tekijä:Fernandes, J.L.B.(et al.)
Otsikko:Delegated portfolio management and risk-taking behavior
Lehti:European Journal of Finance
2010 : APR-JUN, VOL. 16:3-4, p. 353-372
Asiasana:portfolio management
risk behaviour
models
Vapaa asiasana:agency
prospect theory
mutual funds
Kieli:eng
Tiivistelmä:Based on a comprehensive world sample of 4584 mutual funds,empirical evidence gives support to this theoretical model. In this paper proposes a behavioral principal-agent model in the context of professional managers, focusing on active and passive investment strategies and evaluate how incentives affect the risk-taking behavior of managers, considering the standard moral hazard model as a special case, and solve the previous contradiction.
SCIMA tietueen numero: 272309
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