haku: @indexterm portfolio management / yhteensä: 694
viite: 12 / 694
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