Investment management ≈ Investment management
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On Market Timing and Investment Performance Part II: Statistical Procedures for Evaluating Forecasting Skills Open
In Merton (1981; hereafter referred to as Part I), one of us developed a basic model of markettiming forecasts where the forecaster predicts when stocks will outperform bonds and when bonds will outperform stocks but does not predict the m…
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Investment Management and Financial Innovations Open
Stock markets over the world have become more interconnected due to activities of foreign investors in search for alternative financial assets and markets to invest in order to diversify their portfolio.Stock market indices and index retur…
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ESG for All? The Impact of ESG Screening on Return, Risk, and Diversification Open
A large body of research has documented a positive relationship between different measures of sustainability—such as indicators of employee satisfaction and effective corporate governance—and corporate financial performance. Nevertheless, …
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Managerial Activeness and Mutual Fund Performance Open
A closet indexer is more likely to meet a value-weighted investment benchmark by value weighting the portfolio. Following this intuition, we introduce a simple measure of active management, the absolute difference between the value weights…
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Investing for long-term value creation Open
In the transition to a sustainable economy, companies are increasingly adopting the goal of long-term value creation, which integrates financial, social and environmental value. However, institutional investors struggle to invest for long-…
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The analysis of investment into industries based on portfolio managers Open
The main goal of each investor when investing capital is to recover funds. The current market brings unlimited opportunities in creating an investment strategy. This strategy is highly dependent on the investor's preferences, his attitude …
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Machine learning and fund characteristics help to select mutual funds with positive alpha Open
Machine-learning methods exploit fund characteristics to select tradable long-only portfolios of mutual funds that earn significant out-of-sample annual alphas of 2.4% net of all costs. The methods unveil interactions in the relation betwe…
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Mutual Fund Managers’ Prior Work Experience and Their Investment Skill Open
This paper examines the relationship between mutual fund managers’ past professional backgrounds and their portfolio performance using Chinese mutual fund data from 2003 to 2016. We focus on managers with prior work experience either as in…
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Retracted: Efficiency Analysis of Machine Learning Intelligent Investment Based on K-Means Algorithm Open
With the rapid development of technologies such as big data, intelligent data analysis and cloud computing, the application of Internet financial technology has become more and more extensive, and with the advent of the era of large asset …
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An ensemble approach for portfolio selection in a multi-criteria decision making framework Open
Investment in Mutual Funds (MF) has generated increasing interest among the investors over last few decades as it provides an opportunity for flexible and transparent choice of funds to diversify risk while having return potential. MF are …
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No more excuses! Performance of ESG‐integrated portfolios in Australia Open
We find compelling evidence that integrating environment, social and governance (ESG) analyses into ongoing investment practices in Australia does not harm risk‐adjusted returns. High‐ESG‐rated portfolios consistently provide superior outp…
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THE DETERMINANT ACCOUNTABILITY OF VILLAGE FUNDS MANAGEMENT (Study in the Villages in Wonogiri District) Open
This study aims to determine the effect of financial statement presentation, accessibility of financial statements, quality of supervision of BPD, capacity of village apparatus, village financial system (Siskeudes), Government Intern Contr…
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Artificial Intelligence Modelling Framework for Financial Automated Advising in the Copper Market Open
Financial innovation by means of Fintech firms is one of the more disruptive business model innovations from the latest years. Specifically, in the financial advisor sector, worldwide assets under management of artificial intelligence (AI)…
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SUSTAINABLE INVESTMENT STRATEGIES IN PENSION FUND MANAGEMENT: A COMPARATIVE REVIEW OF ESG PRINCIPLES ADOPTION IN THE U.S. AND NIGERIA Open
The integration of Environmental, Social, and Governance (ESG) principles into pension fund management has garnered significant attention in the global financial sector. This study offers a comprehensive comparative analysis of ESG adoptio…
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The urge to act: A comparison of active and passive socially responsible investment funds in the United States Open
Innovative finance vehicles are required to facilitate the transition towards a sustainable society. Here, we investigate two very successful innovations in the fund industry, namely index mutual funds and passively managed exchange traded…
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UK investment trust portfolio strategies before the First World War† Open
UK investment trust companies were at the forefront of financial innovation during the so‐called first globalization era before the First World War. This study examines their portfolio strategies in detail, using a unique dataset of 115 po…
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Ethical strategy focus and mutual fund management: Performance and persistence Open
The aim of this study is to analyze whether managers, practitioners and individual investors could obtain higher risk-adjusted returns by allocating their investments to funds that integrate specific levels of socially responsible (SR) cri…
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Artificial Intelligence in FinTech Open
The recent increase of robo-advisory services (RAs) in various financial domains has caused a threatening alarm to the traditional fund and wealth management industry. There has been a remarkable growth in RAs' assets under management (AUM…
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How Rational and Competitive Is the Market for Mutual Funds? Open
To explore the rationality and competitiveness of the mutual fund industry, we analyze the alpha of active and index mutual funds from a global sample of more than 60,000 equity and fixed income funds and test the null hypothesis that alph…
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Earnings management and investment efficiency Open
Purpose – To verify the relationship between the quality of the accounting information, measured by earnings management, and the efficiency of investments made by Brazilian companies listed on the BM&FBovespa.Design/methodology/approach – …
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Institutional Investor Expectations, Manager Performance, and Fund Flows Open
Using survey data, we analyze institutional investors’ expectations about the future performance of fund managers and the impact of those expectations on asset allocation decisions. We find that institutional investors allocate funds mainl…
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Impact of Demographics and Perceptions of Investors on Investment Avenues Open
The primary purpose of this study is to investigate how investment choice gets affected by the demographics and perceptions of the investor. Investor’s behavior is influenced by many factors at the time of investment decision making. Demog…
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Student Managed Investment Funds: An International Perspective Open
The most comprehensive survey ever conducted on student managed investment funds shows there are now 314 universities worldwide that offer students the chance to learn about portfolio management by investing real money. In aggregate, stude…
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Enhancing portfolio management using artificial intelligence: literature review Open
Building an investment portfolio is a problem that numerous researchers have addressed for many years. The key goal has always been to balance risk and reward by optimally allocating assets such as stocks, bonds, and cash. In general, the …
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Financial literacy, investment and personal financial management nexus: Empirical evidence on private sector employees Open
This paper aims to examine financial literacy, investment decisions and personal financial management nexus among the Small and Medium Enterprises (SMEs) employees in the private sector in Ghana. The study employed a structured questionnai…
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Chains of Finance: How Investment Management is Shaped Open
Investment management firms are estimated to control assets totalling $100 trillion, equivalent to about one year of total global economic output, and that power has a massive impact on the economy and society (TheCityUK, 2014). We may be …
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Climate risk disclosure and climate risk management in UK asset managers Open
Purpose Framed within global policy debates over the need for private financial flows to align with the capital requirements of the Paris Agreement, this paper examines UK asset managers in their approaches to disclosing and managing clima…
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Has the World of Finance Changed? A Review of the Influence of Artificial Intelligence on Financial Management Studies Open
Artificial intelligence (AI) has had a tremendous impact on financial management research, revolutionizing how financial data is analyzed and decisions are made. It has the ability to improve accuracy and efficiency while also lowering cos…
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BEHAVIOURAL FACTORS INFLUENCING INVESTMENT DECISIONS AMONG INDIVIDUAL INVESTORS IN NAIROBI SECURITIES EXCHANGE Open
Investment decision making is influenced by either modern or traditional finance. In traditional finance the investor has to determine the intrinsic value of a security to establish whether it's overvalued, correctly or undervalued. The tr…
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Passive in Name Only: Delegated Management and 'Index' Investing Open
This Article provides the first detailed empirical analysis of the landscape of U.S. stock market indices. First, I hand collect detailed information about the universe of indices used as benchmarks for U.S. mutual funds. I document substa…