Portfolio manager compensation and mutual fund performance

• المؤلفون الرئيسيون: MA, Linlin, YUEHUA TANG, GOMEZ, Juan-Pedro
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2016
• الموضوعات: Portfolio manager compensation; mutual funds; fund performance; risk shifting; Finance and Financial Management; Management Sciences and Quantitative Methods
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/5169; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6168/viewcontent/SSRN_id2024027.pdf

We use a novel dataset to study the relation between individual portfolio manager compensation and mutual fund performance. Managers with explicit performance-based pay exhibit superior subsequent fund performance, especially when investment advisors link pay to performance over a longer time period...