Capture managerial skills from mutual fund managers' frequent replacement

Xiaomei Li; Zhixin Liu

doi:10.1109/FITME.2009.148

Capture managerial skills from mutual fund managers' frequent replacement

Xiaomei Li^*
, Zhixin Liu

^*Corresponding author for this work

School of Economics and Management

Beihang University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Mutual fund managers' frequent replacement implies fund companies' recognition to their skills. In order to capture this kind of managerial skills, we put forward two propositions: performance persistence is stronger in large fund and fund abnormal return is negatively correlated with managerial tenure. Using a panel of 96 actively managed Chinese equity funds, we document evidence consistent with our hypotheses that managerial skills do exist among mutual fund managers. Our empirical results also suggest Chinese mutual funds display short-term performance persistence.

Original language	English
Title of host publication	2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009
Pages	576-579
Number of pages	4
DOIs	https://doi.org/10.1109/FITME.2009.148
State	Published - 2009
Event	2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009 - Sanya, China Duration: 13 Dec 2009 → 14 Dec 2009

Publication series

Name	2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009

Conference

Conference	2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009
Country/Territory	China
City	Sanya
Period	13/12/09 → 14/12/09

Keywords

Managerial skills
Mutual fund managers' replacement
Performance persistence

Access to Document

10.1109/FITME.2009.148

Cite this

Li, X., & Liu, Z. (2009). Capture managerial skills from mutual fund managers' frequent replacement. In 2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009 (pp. 576-579). Article 5381054 (2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009). https://doi.org/10.1109/FITME.2009.148

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title = "Capture managerial skills from mutual fund managers' frequent replacement",

abstract = "Mutual fund managers' frequent replacement implies fund companies' recognition to their skills. In order to capture this kind of managerial skills, we put forward two propositions: performance persistence is stronger in large fund and fund abnormal return is negatively correlated with managerial tenure. Using a panel of 96 actively managed Chinese equity funds, we document evidence consistent with our hypotheses that managerial skills do exist among mutual fund managers. Our empirical results also suggest Chinese mutual funds display short-term performance persistence.",

keywords = "Managerial skills, Mutual fund managers' replacement, Performance persistence",

author = "Xiaomei Li and Zhixin Liu",

year = "2009",

doi = "10.1109/FITME.2009.148",

language = "英语",

isbn = "9780769538808",

series = "2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009",

pages = "576--579",

booktitle = "2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009",

note = "2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009 ; Conference date: 13-12-2009 Through 14-12-2009",

}

Li, X & Liu, Z 2009, Capture managerial skills from mutual fund managers' frequent replacement. in 2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009., 5381054, 2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009, pp. 576-579, 2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009, Sanya, China, 13/12/09. https://doi.org/10.1109/FITME.2009.148

Capture managerial skills from mutual fund managers' frequent replacement. / Li, Xiaomei; Liu, Zhixin.
2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009. 2009. p. 576-579 5381054 (2009 2nd International Conference on Future Information Technology and Management Engineering, FITME 2009).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

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AU - Li, Xiaomei

AU - Liu, Zhixin

PY - 2009

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AB - Mutual fund managers' frequent replacement implies fund companies' recognition to their skills. In order to capture this kind of managerial skills, we put forward two propositions: performance persistence is stronger in large fund and fund abnormal return is negatively correlated with managerial tenure. Using a panel of 96 actively managed Chinese equity funds, we document evidence consistent with our hypotheses that managerial skills do exist among mutual fund managers. Our empirical results also suggest Chinese mutual funds display short-term performance persistence.

KW - Managerial skills

KW - Mutual fund managers' replacement

KW - Performance persistence

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DO - 10.1109/FITME.2009.148

M3 - 会议稿件

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ER -

Capture managerial skills from mutual fund managers' frequent replacement

Abstract

Publication series

Conference

Keywords

Access to Document

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