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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/152724


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    题名: 基金經理人學歷與資歷對基金績效之影響
    The Effect of Fund Manager’s Education and Experience on Fund Performance
    作者: 黃麒軒
    Huang, Chi-Syuan
    贡献者: 陳鴻毅
    Chen, Hong-Yi
    黃麒軒
    Huang, Chi-Syuan
    关键词: 共同基金
    基金績效
    基金經理人學歷
    基金經理人資歷
    Mutual fund
    Fund performance
    Fund manager’s education
    Fund manager’s experience
    日期: 2024
    上传时间: 2024-08-05 13:42:54 (UTC+8)
    摘要: 本研究主要探討基金經理人學歷和資歷對於基金績效之影響，也探討基金經理人學歷與資歷如何影響他們的交易風格、管理費用以及資金流入的情況。實證結果顯示，基金經理人的學歷與資歷對其交易風格和收取的管理費用有顯著的影響。此外，具有較高資歷或持有常春藤聯盟MBA學位的基金經理人，其管理的基金績效通常較其他背景的經理人更為優異，但投資者卻未將資金流入至這些經理人所管理的基金中。
    This study primarily investigates the effect of manager’s education and experience on fund performance. Additionally, we examine how these characteristics influence managers’ trading style, fund flow, and management fees. Our findings indicate that manager’s education and experience are related to their trading style and management fee. Although managers with longer experience in the fund industry or an MBA degree from Ivy League institutions demonstrate a positive relationship with fund performance, we find that investors do not allocate their capital to the funds managed by these managers.
    參考文獻: Agarwal, V., Ma, L., & Mullally, K. (2023). Managerial multitasking in the mutual fund industry. Financial Analysts Journal, 79(2), 65-75.
    Carhart, M. (1997). On persistence in mutual fund performance. The Journal of Finance, 52(1), 57-82.
    Chen, J., Hong, H., Huang, M., & Kubik, J. (2004). Does fund size erode mutual fund performance? The role of liquidity and organization. American Economic Review, 94(5), 1276-1302.
    Chen, J., Xie, L., & Zhou, S. (2020). Managerial multi-tasking, team diversity, and mutual fund performance. Journal of Corporate Finance, 65, 101766.
    Chevalier, J., & Ellison, G. (1999a). Are some mutual fund managers better than others? Cross‐sectional patterns in behavior and performance. The Journal of Finance, 54(3), 875-899.
    Clare, A., Sherman, M., O’Sullivan, N., Gao, J., & Zhu, S. (2022). Manager characteristics: Predicting fund performance. International Review of Financial Analysis, 80, 102049.
    Costa, B., Jakob, K., & Porter, G. (2006). Mutual fund performance and changing market trends 1990-2001: Does manager experience matter? Journal of Investing, 15(2), 79-86.
    Cuthbertson, K., Nitzsche, D., & O’Sullivan, N. (2010). Mutual fund performance: Measurement and Evidence 1. Financial Markets, Institutions & Instruments, 19(2), 95-187.
    Domingues, C., Moutinho, V., Santomil, P., & González, L. (2023). Does team size and tenure matter for European pension funds? Applied Economics, 1-12.
    Gottesman, A., & Morey, M. (2006). Manager education and mutual fund performance. Journal of Empirical Finance, 13(2), 145-182.
    Hu, J., Yu, H., & Wang, Y. (2012). Manager attributes and fund performance: evidence from Taiwan. Journal of Applied Finance and Banking, 2(4), 85-101.
    King, T., Srivastav, A., & Williams, J. (2016). What's in an education? Implications of CEO education for bank performance. Journal of Corporate Finance, 37, 287-308.
    Porter, G., & Trifts, J. (2012). The best mutual fund managers: testing the impact of experience using a survivorship bias free dataset. Journal of Applied Finance (Formerly Financial Practice and Education), 22(1). 104-117.
    Saidu, S. (2019). CEO characteristics and firm performance: focus on origin, education and ownership. Journal of Global Entrepreneurship Research, 9(29), 1-15.
    Sharpe, W. (1966). Mutual fund performance. The Journal of Business, 39(1), 119-138.
    Switzer, L., & Huang, Y. (2007). How does human capital affect the performance of small and mid‐cap mutual funds? Journal of Intellectual Capital, 8(4), 666-681.
    Wermers, R. (2003). Is money really ‘smart’? New evidence on the relation between mutual fund flows, manager behavior, and performance persistence. Unpublished working paper. University of Maryland.
    描述: 碩士
    國立政治大學
    財務管理學系
    111357022
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0111357022
    数据类型: thesis
    显示于类别:[財務管理學系] 學位論文

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