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The Behavior of Institutional Investors

The Behavior of Institutional Investors PDF Author: Alexander Pütz
Publisher:
ISBN: 9783832531898
Category : Index mutual funds
Languages : en
Pages : 0

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Book Description
Institutional investors such as mutual funds and hedge funds play an important role in today's financial markets. This thesis consists of three essays which empirically study the behavior of active fund managers. In particular, the first essay investigates whether managers behave rationally or if some of them unconsciously make wrong investment decisions due to behavioral biases. The second essay examines whether some managers intentionally act to solely advance their own interests by strategically valuing the security positions in their portfolio. The third essay analyzes what the managers' education reveals about their investment behavior.