Do Fund Managers Expect Mean Averting Returns?
Autor: Stotz, Olaf and Lütje, Torben and Menkhoff, Lukas and von Nitzsch, Rüdiger
Nummer: 309, Dec 2004, pp. 8
JEL-Class: G12, G14
Abstract:
This paper finds that fund managers do not expect mean reverting returns, as suggested by theory and empirical evidence, but mean averting returns. The degree of mean aversion is positively related to preferences for non-fundamental information and loss aversion.
Zusammenfassung:
/N
Diskussionspapier als PDF-Datei herunterladen
BibTeX-Datensatz herunterladen