Portfolio Manager Ownership and Mutual Fund Risk Taking

• Main Authors: MA, Linlin, TANG, Yuehua
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2013
• Subjects: Mutual Funds; Managerial Ownership; Fund Risk; Risk Shifting; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/3694; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2024119
• Institution: Singapore Management University

This study examines the effects of portfolio manager ownership on the risk-taking behavior of mutual funds. Using both return-based and holding-based risk measures, we find that funds managed by portfolio managers with higher beneficial ownership exhibit lower risk. In particular, using holding-base...