International Fund Managers' Viewpoints, Perception and Investment Behavior: Empirical Evidence

Inhaltsübersicht: 1. Introduction: Motivation and contribution of this dissertation - Outline - Questionnaire - 2. Fund managers in Germany: What do they think and what do they do?: Introduction - Data - What do fund managers think about their colleagues' investment behavior? - What do fund managers say about their own behavior? - What characterizes fund managers from the academic point of view? - Conclusions - 3. To be good or to be better: Asset managers' attitudes towards herding: Introduction - Survey methodology and design - Survey findings on reputational herding - Herding managers' working effort, preferred information and time horizon - Herding managers' risk taking behavior - Conclusions - 4. Stock price momentum: An already explained phenomenon?: Introduction - Preferred technical strategies. Momentum versus contrarian - Selection criteria for successful momentum strategies - Explanatory approaches of stock price momentum - Conclusions - 5. Incentives and fund managers' behavior: Trans-atlantic evidence: Introduction - Incentives in the fund management industry - Data - Description of fund managers' bonus payments in three countries - Institutional correlates of high bonus payments - Bonus and working effort - Bonus and risk-taking - Bonus and opportunistic behavior - Conclusions - 6. What drives home bias? Evidence from fund managers' views: Introduction - Data - Survey findings on literature hypotheses - Survey findings on further relations - The relative importance of home bias' driving forces - Conclusions - Summary - Résumé - Zusammenfassung - References - Index