Resource title

To Be Good or To Be Better: Asset Managers' Attitudes Towards Herding

Resource image

image for OpenScout resource :: To Be Good or To Be Better: Asset Managers' Attitudes Towards Herding

Resource description

Based on a questionnaire survey the paper distinguishes between herding asset managers who try to be good and non-herding asset managers who try to be better than their competitors. It provides evidence for reputational herding and discusses herding managers' working effort, preferred sources of information and investment horizon. Additionally, their risk taking behavior including their investment behavior in short-term tournament scenarios is analyzed. It is found that herding managers assess themselves as generally more risk averse than non-herding managers, but in the tournament they are willing to take more risk. This finding is ascribable to their fear of falling out of the herd.

Resource author

Torben Lütje

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/22409

Resource license

Adapt according to the presented license agreement and reference the original author.