메뉴 건너뛰기




Volumn 95, Issue 3, 2010, Pages 400-424

When should firms share credit with employees? Evidence from anonymously managed mutual funds

Author keywords

Favoritism; Marketing; Media; Mutual funds; Named managers

Indexed keywords


EID: 75149120953     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jfineco.2009.10.006     Document Type: Article
Times cited : (78)

References (53)
  • 1
    • 0031478211 scopus 로고    scopus 로고
    • Dimensions of brand personality
    • Aaker J. Dimensions of brand personality. Journal of Marketing Research 34 (1997) 347-357
    • (1997) Journal of Marketing Research , vol.34 , pp. 347-357
    • Aaker, J.1
  • 4
    • 0344032944 scopus 로고    scopus 로고
    • Make versus buy in trucking: asset ownership, job design and information
    • Baker G., and Hubbard T. Make versus buy in trucking: asset ownership, job design and information. American Economic Review 93 (2003) 551-572
    • (2003) American Economic Review , vol.93 , pp. 551-572
    • Baker, G.1    Hubbard, T.2
  • 5
    • 0942267052 scopus 로고    scopus 로고
    • Good reasons sell: reason-based choice among individuals and groups in the stock market
    • Barber B., Heath C., and Odean T. Good reasons sell: reason-based choice among individuals and groups in the stock market. Management Science 49 (2003) 1636-1652
    • (2003) Management Science , vol.49 , pp. 1636-1652
    • Barber, B.1    Heath, C.2    Odean, T.3
  • 6
    • 70349440995 scopus 로고    scopus 로고
    • Assessing the costs and benefits of brokers in the mutual fund industry
    • Bergstresser D., Chalmers J., and Tufano T. Assessing the costs and benefits of brokers in the mutual fund industry. Review of Financial Studies 22 (2009) 4129-4156
    • (2009) Review of Financial Studies , vol.22 , pp. 4129-4156
    • Bergstresser, D.1    Chalmers, J.2    Tufano, T.3
  • 7
    • 12144279436 scopus 로고    scopus 로고
    • Mutual fund flows and performance in rational markets
    • Berk J., and Green R. Mutual fund flows and performance in rational markets. Journal of Political Economy 112 (2004) 1269-1295
    • (2004) Journal of Political Economy , vol.112 , pp. 1269-1295
    • Berk, J.1    Green, R.2
  • 8
    • 44449088504 scopus 로고    scopus 로고
    • Performance characteristics of individually-managed vs. team-managed mutual funds
    • Bliss R., Potter M., and Schwarz C. Performance characteristics of individually-managed vs. team-managed mutual funds. Journal of Portfolio Management 34 (2008) 110-119
    • (2008) Journal of Portfolio Management , vol.34 , pp. 110-119
    • Bliss, R.1    Potter, M.2    Schwarz, C.3
  • 9
    • 0002624840 scopus 로고    scopus 로고
    • On persistence in mutual fund performance
    • Carhart M. On persistence in mutual fund performance. Journal of Finance 52 (1997) 57-82
    • (1997) Journal of Finance , vol.52 , pp. 57-82
    • Carhart, M.1
  • 10
    • 16244404602 scopus 로고    scopus 로고
    • Does fund size erode mutual fund performance? The role of liquidity and organization
    • Chen J., Hong H., Huang M., and Kubik J. Does fund size erode mutual fund performance? The role of liquidity and organization. American Economic Review 94 (2004) 1276-1302
    • (2004) American Economic Review , vol.94 , pp. 1276-1302
    • Chen, J.1    Hong, H.2    Huang, M.3    Kubik, J.4
  • 11
    • 0040705364 scopus 로고    scopus 로고
    • Are some mutual fund managers better than others? Cross-sectional patterns in behavior and performance
    • Chevalier J., and Ellison G. Are some mutual fund managers better than others? Cross-sectional patterns in behavior and performance. Journal of Finance 54 (1999) 875-899
    • (1999) Journal of Finance , vol.54 , pp. 875-899
    • Chevalier, J.1    Ellison, G.2
  • 13
    • 28244480422 scopus 로고    scopus 로고
    • Changing names with style: mutual fund name changes and their effects on fund flows
    • Cooper M., Gulen H., and Raghavendra Rau P. Changing names with style: mutual fund name changes and their effects on fund flows. Journal of Finance 60 (2005) 2825-2858
    • (2005) Journal of Finance , vol.60 , pp. 2825-2858
    • Cooper, M.1    Gulen, H.2    Raghavendra Rau, P.3
  • 14
    • 71949087490 scopus 로고    scopus 로고
    • How active is your mutual fund manager? A new measure the predicts performance
    • Cremers, M., Petajisto, A., 2009. How active is your mutual fund manager? A new measure the predicts performance. Review of Financial Studies, 22, 3329-3365.
    • (2009) Review of Financial Studies , vol.22 , pp. 3329-3365
    • Cremers, M.1    Petajisto, A.2
  • 16
    • 0000928969 scopus 로고
    • Risk, return, and equilibrium: empirical tests
    • Fama E., and MacBeth J. Risk, return, and equilibrium: empirical tests. Journal of Political Economy 81 (1973) 607-636
    • (1973) Journal of Political Economy , vol.81 , pp. 607-636
    • Fama, E.1    MacBeth, J.2
  • 17
    • 75149132911 scopus 로고    scopus 로고
    • Gallaher, S., Kaniel, R., Starks, L., 2007. Madison Avenue meets Wall Street. Unpublished Working Paper, University of Texas at Austin.
    • Gallaher, S., Kaniel, R., Starks, L., 2007. Madison Avenue meets Wall Street. Unpublished Working Paper, University of Texas at Austin.
  • 18
    • 33645074940 scopus 로고    scopus 로고
    • Favoritism in mutual fund families? Evidence of strategic cross-fund subsidization
    • Gaspar J.-M., Massa M., and Matos P. Favoritism in mutual fund families? Evidence of strategic cross-fund subsidization. Journal of Finance 61 (2006) 73-104
    • (2006) Journal of Finance , vol.61 , pp. 73-104
    • Gaspar, J.-M.1    Massa, M.2    Matos, P.3
  • 20
    • 33847353292 scopus 로고    scopus 로고
    • Sifting through the wreckage: lessons from recent hedge fund liquidations
    • Getmansky M., Lo A., and Wei S. Sifting through the wreckage: lessons from recent hedge fund liquidations. Journal of Investment Management 2 (2004) 6-38
    • (2004) Journal of Investment Management , vol.2 , pp. 6-38
    • Getmansky, M.1    Lo, A.2    Wei, S.3
  • 21
    • 21144478549 scopus 로고
    • Performance measurement without benchmarks: an examination of mutual fund returns
    • Grinblatt M., and Titman S. Performance measurement without benchmarks: an examination of mutual fund returns. Journal of Business 66 (1993) 47-68
    • (1993) Journal of Business , vol.66 , pp. 47-68
    • Grinblatt, M.1    Titman, S.2
  • 23
    • 75149133846 scopus 로고    scopus 로고
    • Guedj, I., Papastaikoudi, J., 2005. Can mutual fund families affect the performance of their funds? Unpublished Working Paper, University of Texas at Austin.
    • Guedj, I., Papastaikoudi, J., 2005. Can mutual fund families affect the performance of their funds? Unpublished Working Paper, University of Texas at Austin.
  • 24
    • 84934453985 scopus 로고
    • Property rights and the nature of the firm
    • Hart O., and Moore J. Property rights and the nature of the firm. Journal of Political Economy 98 (1990) 1119-1158
    • (1990) Journal of Political Economy , vol.98 , pp. 1119-1158
    • Hart, O.1    Moore, J.2
  • 26
    • 4243442002 scopus 로고    scopus 로고
    • Managerial incentive problems, a dynamic perspective
    • Holmström B. Managerial incentive problems, a dynamic perspective. Review of Economic Studies 66 (1999) 169-182
    • (1999) Review of Economic Studies , vol.66 , pp. 169-182
    • Holmström, B.1
  • 27
    • 0002430504 scopus 로고
    • Multitask principal-agent analyses: incentive contracts, asset ownership, and job design
    • Holmström B., and Milgrom P. Multitask principal-agent analyses: incentive contracts, asset ownership, and job design. Journal of Law, Economics, and Organization 7 (1991) 24-52
    • (1991) Journal of Law, Economics, and Organization , vol.7 , pp. 24-52
    • Holmström, B.1    Milgrom, P.2
  • 28
    • 2542593182 scopus 로고    scopus 로고
    • Product differentiation, search costs, and competition in the mutual fund industry: a case study of S&P 500 index funds
    • Hortascu A., and Syverson C. Product differentiation, search costs, and competition in the mutual fund industry: a case study of S&P 500 index funds. Quarterly Journal of Economics 119 (2004) 403-456
    • (2004) Quarterly Journal of Economics , vol.119 , pp. 403-456
    • Hortascu, A.1    Syverson, C.2
  • 29
    • 0039012105 scopus 로고    scopus 로고
    • Truth in mutual fund advertising: evidence on future performance and fund flows
    • Jain P.C., and Shuang Wu J. Truth in mutual fund advertising: evidence on future performance and fund flows. Journal of Finance 55 (2000) 937-958
    • (2000) Journal of Finance , vol.55 , pp. 937-958
    • Jain, P.C.1    Shuang Wu, J.2
  • 30
    • 0002211637 scopus 로고
    • Vertical integration and long-term contracts: the case of coal-burning electric generating plants
    • Joskow P. Vertical integration and long-term contracts: the case of coal-burning electric generating plants. Journal of Law, Economics, and Organization 1 (1985) 33-80
    • (1985) Journal of Law, Economics, and Organization , vol.1 , pp. 33-80
    • Joskow, P.1
  • 31
    • 23944459531 scopus 로고    scopus 로고
    • On the industry concentration of actively managed equity mutual funds
    • Kacperczyk M., Sialm C., and Zheng L. On the industry concentration of actively managed equity mutual funds. Journal of Finance 60 (2005) 1983-2011
    • (2005) Journal of Finance , vol.60 , pp. 1983-2011
    • Kacperczyk, M.1    Sialm, C.2    Zheng, L.3
  • 33
    • 75149143039 scopus 로고    scopus 로고
    • Kaniel, R., Starks, L., Vasudevan, V., 2007. Headlines and bottom lines: media coverage and mutual funds. Unpublished Working Paper. University of Texas at Austin.
    • Kaniel, R., Starks, L., Vasudevan, V., 2007. Headlines and bottom lines: media coverage and mutual funds. Unpublished Working Paper. University of Texas at Austin.
  • 34
    • 0035628074 scopus 로고    scopus 로고
    • Performance changes following top management turnover: evidence from open-end mutual funds
    • Khorana A. Performance changes following top management turnover: evidence from open-end mutual funds. Journal of Financial and Quantitative Analysis 36 (2001) 371-393
    • (2001) Journal of Financial and Quantitative Analysis , vol.36 , pp. 371-393
    • Khorana, A.1
  • 36
    • 0142250336 scopus 로고    scopus 로고
    • How investors interpret past fund returns
    • Lynch A., and Musto D. How investors interpret past fund returns. Journal of Finance 58 (2003) 2033-2058
    • (2003) Journal of Finance , vol.58 , pp. 2033-2058
    • Lynch, A.1    Musto, D.2
  • 38
    • 0001202233 scopus 로고
    • Supplier switching costs and vertical integration in the automobile industry
    • Monteverde K., and Teece D. Supplier switching costs and vertical integration in the automobile industry. Bell Journal of Economics 13 (1982) 206-213
    • (1982) Bell Journal of Economics , vol.13 , pp. 206-213
    • Monteverde, K.1    Teece, D.2
  • 42
    • 75149159318 scopus 로고    scopus 로고
    • Portability of performance records and the use of related performance information
    • Pierce L. Portability of performance records and the use of related performance information. Journal of Portfolio Management 3 (1999) 22-34
    • (1999) Journal of Portfolio Management , vol.3 , pp. 22-34
    • Pierce, L.1
  • 43
    • 55949096483 scopus 로고    scopus 로고
    • How does size affect mutual fund behavior?
    • Pollet J., and Wilson M. How does size affect mutual fund behavior?. Journal of Finance 63 (2008) 2941-2969
    • (2008) Journal of Finance , vol.63 , pp. 2941-2969
    • Pollet, J.1    Wilson, M.2
  • 45
    • 33748800990 scopus 로고    scopus 로고
    • Are IPO allocations for sale? Evidence from mutual funds
    • Reuter J. Are IPO allocations for sale? Evidence from mutual funds. Journal of Finance 61 (2006) 2289-2324
    • (2006) Journal of Finance , vol.61 , pp. 2289-2324
    • Reuter, J.1
  • 46
    • 33644850715 scopus 로고    scopus 로고
    • Reuter J., and Zitzewitz E. (Eds)
    • In: Reuter J., and Zitzewitz E. (Eds). Do ads influence editors? Advertising and bias in the financial media. Quarterly Journal of Economics 119 (2006) 197-227
    • (2006) Quarterly Journal of Economics , vol.119 , pp. 197-227
  • 47
    • 0000602640 scopus 로고
    • The economics of superstars
    • Rosen S. The economics of superstars. American Economic Review 71 (1981) 845-858
    • (1981) American Economic Review , vol.71 , pp. 845-858
    • Rosen, S.1
  • 48
    • 15944397996 scopus 로고    scopus 로고
    • Determinants of asset ownership: a study of the carpentry trade
    • Simester D., and Wernerfeldt B. Determinants of asset ownership: a study of the carpentry trade. Review of Economics and Statistics 87 (2005) 50-58
    • (2005) Review of Economics and Statistics , vol.87 , pp. 50-58
    • Simester, D.1    Wernerfeldt, B.2
  • 49
    • 0005163859 scopus 로고    scopus 로고
    • Costly search and mutual fund flows
    • Sirri E., and Tufano P. Costly search and mutual fund flows. Journal of Finance 53 (1998) 1589-1622
    • (1998) Journal of Finance , vol.53 , pp. 1589-1622
    • Sirri, E.1    Tufano, P.2
  • 50
    • 64149112040 scopus 로고    scopus 로고
    • Superstars and mediocrities: market failure in the discovery of talent
    • Terviö M. Superstars and mediocrities: market failure in the discovery of talent. Review of Economic Studies 76 (2009) 829-850
    • (2009) Review of Economic Studies , vol.76 , pp. 829-850
    • Terviö, M.1
  • 51
    • 0001470630 scopus 로고
    • Transaction-cost economics: the governance of contractual relations
    • Williamson O. Transaction-cost economics: the governance of contractual relations. Journal of Law and Economics 22 (1979) 223-261
    • (1979) Journal of Law and Economics , vol.22 , pp. 223-261
    • Williamson, O.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.