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CFR Working Papers, Centre for Financial Research (CFR), Universität Köln >
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http://hdl.handle.net/10419/56063
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| Title: | | Are two business degrees better than one? Evidence from mutual fund managers' education  |
| Authors: | | Andreu, Laura Pütz, Alexander |
| Issue Date: | | 2012 |
| Series/Report no.: | | CFR working paper 12-01 |
| Abstract: | | We analyze what a second business degree reveals about the investment behavior of professional investors. Specifically, we compare performance, risk, and style of equity mutual fund managers having a CFA designation and an MBA degree to managers with only one of these qualifications. We document that the performance between these groups does not significantly differ. However, managers with both degrees show less extreme and more persistent performance. Furthermore, consistent with the performance results, managers who gather both degrees also show less extreme and more stable risk levels and investment styles. |
| Subjects: | | education investment behavior professional investors mutual funds |
| JEL: | | G23 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CFR Working Papers, Centre for Financial Research (CFR), Universität Köln
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