Essays in delegated portfolio management:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
2014
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VI, 131 S. |
Internformat
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Datensatz im Suchindex
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| adam_text | Titel: Essays in delegated portfolio management
Autor: Hüther, Niklas
Jahr: 2014
Contents
List of Figures iii
List of Tables vi
1 Introduction 1
2 Paying for Performance in Private Equity: Evidence from Management
Contracts 7
2.1 Introduction....................................................................8
2.2 A Theoretical Framework ....................................................12
2.2.1 Contracts Change Behavior..........................................12
2.2.2 Contracts Reflect Talent..............................................14
2.3 Data Description..............................................................15
2.3.1 Sample Representativeness and Basic Summary Statistics..........16
2.3.2 Definitions and Detailed Summary Statistics........................19
2.4 Main Results ..................................................................23
2.4.1 Distribution Rules and Gross Performance..........................24
2.4.2 Does Risk-Taking Vary with Distribution Rules?....................27
2.4.3 Distribution Rules and Net-of-fee Performance......................29
2.5 Robustness Considerations....................................................31
2.5.1 Are Results Sensitive to Choice of Benchmark? ....................31
2.5.2 Are Results Driven by Sample Selection?............................33
2.6 Conclusion......................................................................38
3 Is the Whole Greater Than the Sum of Its Parts? Behavioral Effects
of Management Compensation 41
3.1 Introduction....................................................................42
3.2 Economics of Distribution Rules..............................................44
3.3 The Model......................................................................51
3.3.1 Timeline and Outcome Specification ................................51
3.3.2 Compensation and Utility............................................54
3.4 Model Analysis................................................................59
3.4.1 Contracts Change Effort..............................................59
3.4.2 Contracts Change Risk-Taking........................................64
3.5 Testable Implications..........................................................69
3.6 Conclusion......................................................................71
4 Liquid or Illiquid Asset Diversification? A New Approach to the Effi-
cient Portfolio Strategy 73
4.1 Introduction....................................................................74
4.2 The Portfolio Approach ......................................................78
4.3 The Model......................................................................82
4.4 Model Analysis................................................................88
4.4.1 Illiquidity Composition and Trade Ratios............................88
4.4.2 Portfolio Weights Sensitivity to Expected Return..................94
4.4.3 Weights Sensitivity in a Liquid Versus an Illiquid Portfolio .... 104
4.5 Conclusion...................................109
References 111
Appendix to Chapter 3 118
Appendix to Chapter 4 121
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| any_adam_object | 1 |
| author | Hüther, Niklas |
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.6 |
| dewey-search | 332.6 |
| dewey-sort | 3332.6 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| language | English |
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| spelling | Hüther, Niklas Verfasser (DE-588)105005430X aut Essays in delegated portfolio management vorgelegt von Niklas Hüther 2014 VI, 131 S. txt rdacontent n rdamedia nc rdacarrier Köln, Univ., Diss., 2014 Vergütung (DE-588)4062855-3 gnd rswk-swf Führungskraft (DE-588)4071497-4 gnd rswk-swf Portfoliomanagement (DE-588)4115601-8 gnd rswk-swf Performance Kapitalanlage (DE-588)4219415-5 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Portfoliomanagement (DE-588)4115601-8 s Führungskraft (DE-588)4071497-4 s Vergütung (DE-588)4062855-3 s Performance Kapitalanlage (DE-588)4219415-5 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027302324&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Hüther, Niklas Essays in delegated portfolio management Vergütung (DE-588)4062855-3 gnd Führungskraft (DE-588)4071497-4 gnd Portfoliomanagement (DE-588)4115601-8 gnd Performance Kapitalanlage (DE-588)4219415-5 gnd |
| subject_GND | (DE-588)4062855-3 (DE-588)4071497-4 (DE-588)4115601-8 (DE-588)4219415-5 (DE-588)4113937-9 |
| title | Essays in delegated portfolio management |
| title_auth | Essays in delegated portfolio management |
| title_exact_search | Essays in delegated portfolio management |
| title_full | Essays in delegated portfolio management vorgelegt von Niklas Hüther |
| title_fullStr | Essays in delegated portfolio management vorgelegt von Niklas Hüther |
| title_full_unstemmed | Essays in delegated portfolio management vorgelegt von Niklas Hüther |
| title_short | Essays in delegated portfolio management |
| title_sort | essays in delegated portfolio management |
| topic | Vergütung (DE-588)4062855-3 gnd Führungskraft (DE-588)4071497-4 gnd Portfoliomanagement (DE-588)4115601-8 gnd Performance Kapitalanlage (DE-588)4219415-5 gnd |
| topic_facet | Vergütung Führungskraft Portfoliomanagement Performance Kapitalanlage Hochschulschrift |
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