Sensation-seeking hedge funds

• Main Authors: BROWN, Stephen, LU, Yan, RAY, Sugata, TEO, Melvyn
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2017
• 主題: Sensation seeking; Hedge funds; Risk; Operational risk; Finance and Financial Management; Portfolio and Security Analysis
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/5253; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6252/viewcontent/SensationSeekingHedgeFunds_2017.pdf
• 機構: Singapore Management University

Using a novel dataset of hedge fund manager automobile purchases, we show that, motivated by sensation seeking, hedge fund managers often take risk for personal and non-pecuniary reasons. In line with the sensation seeking view, managers who own powerful sports cars take on more investment risk but...