Fund family tournament and performance consequences: evidence from the UK fund industry
By applying tournament analysis to the UK Unit Trusts data, the results support significant risk shifting in the family tournament; i.e. interim winning managers tend to increase their level of risk exposure more than losing managers. It also shows that the risk-adjusted returns of the winners outpe...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
2014-06-01.
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| Subjects: | |
| Online Access: | Get fulltext |