Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/27220 
Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
Diskussionsbeitrag No. 411
Verlag: 
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät, Hannover
Zusammenfassung: 
This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly positive influence of bonus payments on investment behavior on both sides of the Atlantic. Higher bonus payments are significantly related to higher working effort but not to risk taking. They also seem to induce fund managers to rely more on fundamental information. Findings within regions are confirmed by Trans-Atlantic evidence as US fund managers receive larger bonuses but also show the effects to a higher degree. The effects documented are stronger for relative than for absolute performance assessment.
Schlagwörter: 
Fund managers
incentives
fundamental information
JEL: 
G23
G14
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
198.24 kB





Publikationen in EconStor sind urheberrechtlich geschützt.