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Manager Description and Fund Performance
Stockholm University, Faculty of Social Sciences, School of Business, Finance.
2012 (English)Conference paper, Oral presentation only (Refereed)
Abstract [en]

In this study, it is examined whether the manager description of a fund is related to its performance. The length of this description may be an indicator of either manager’s ability or overconfidence. Overall, the results suggest that the manager description is related to the performance when the performance is measured using the Sharpe ratio. Past backfilled Sharpe ratio and appraisal ratio also explain the manager description implying that fund managers attrib-ute their performances to themselves, and therefore the length of the manager description may be an indicator of overconfidence. When the alpha is considered as the performance measure of a well-diversified fund investor, the results suggest that lengthy strategy descriptions are rather positive performance indications for fund investors.

Place, publisher, year, edition, pages
2012.
Keyword [en]
Self-Attribution, Manager Description, Fund Performance
National Category
Business Administration
Identifiers
URN: urn:nbn:se:su:diva-85868OAI: oai:DiVA.org:su-85868DiVA: diva2:585207
Conference
The 2012 Academy of Financial Services Annual Meeting
Available from: 2013-01-11 Created: 2013-01-09 Last updated: 2013-01-11Bibliographically approved

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CiteExportLink to record
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