<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The aim of this study is to examine whether investment risk is related to the managerial factors characterising portfolio managers. The study employs four risk measures and a set of individual manager characteristics, including socio-demographic variables determining a manager profile. The analysis is conducted based on data for 144 portfolio managers from 43 domestic equity funds operating in Poland in the period 2000-2015. The examinations are made possible by using static panel models. The obtained results indicate the existence of a relationship between managerial characteristics and risk measures, such as: standard deviation, beta coefficient, tracking error and bear-market percentile ranking. To our knowledge, it is the first paper to evaluate the investment risk of Polish mutual funds in relation to managerial characteristics.</p></abstract>

The aim of this study is to examine whether investment risk is related to the managerial factors characterising portfolio managers. The study employs four risk measures and a set of individual manager characteristics, including socio-demographic variables determining a manager profile. The analysis is conducted based on data for 144 portfolio managers from 43 domestic equity funds operating in Poland in the period 2000-2015. The examinations are made possible by using static panel models. The obtained results indicate the existence of a relationship between managerial characteristics and risk measures, such as: standard deviation, beta coefficient, tracking error and bear-market percentile ranking. To our knowledge, it is the first paper to evaluate the investment risk of Polish mutual funds in relation to managerial characteristics.

Managerial Factors in Investment Risk: Evidence from Polish Mutual Funds

Cardinal Stefan Wyszynski University in Warsaw

Faculty of Social Sciences, Department of Finance

Financial Internet Quarterly

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Managerial Factors in Investment Risk: Evidence from Polish Mutual Funds"}

The aim of this study is to examine whether investment risk is related to the managerial factors characterising portfolio managers. The study employs four risk...

Managerial Factors in Investment Risk: Evidence from Polish Mutual Funds

Data publikacji: 31 mar 2020

Zakres stron: 1 - 10

Otrzymano: 25 cze 2018

Przyjęty: 10 cze 2019

DOI: https://doi.org/10.2478/fiqf-2020-0001

Słowa kluczowe
mutual funds, investment risk, managerial characteristics, human capital

© 2020 Dariusz Filip, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Managerial Factors in Investment Risk: Evidence from Polish Mutual Funds

Data publikacji: 31 mar 2020

Zakres stron: 1 - 10

Otrzymano: 25 cze 2018

Przyjęty: 10 cze 2019

DOI: https://doi.org/10.2478/fiqf-2020-0001

Słowa kluczowemutual funds, investment risk, managerial characteristics, human capital

© 2020 Dariusz Filip, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Słowa kluczowe
mutual funds, investment risk, managerial characteristics, human capital