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Managerial attributes and equity mutual fund performance: evidence from china

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  • Mamatzakis, Emmanuel
  • Xu, Bingrun

Abstract

The paper examines the performance of Chinese equity mutual funds and investigates the impact of fund managerial attributes (tenure, team management structure, management educational factors and funds under management) on equity mutual fund performance during the sample period from 2005 to 2013. The equity fund performance is measured using the Stochastic Frontier Approach (SFA) and several traditional fund performance methods such as Jensen’s Alpha and the Sharp ratio. The paper reveals that team–management in a large fund size has a negative impact on fund performance. A fund managed by managers with a longer tenure will perform worse than a fund whose managers are relatively new to a fund. Furthermore, there is a negative relationship between funds under management and equity fund performance. This paper finds that only fund managers with Master’s degrees have a positive impact on fund performance in the Chinese equity mutual fund industry.

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  • Mamatzakis, Emmanuel & Xu, Bingrun, 2016. "Managerial attributes and equity mutual fund performance: evidence from china," MPRA Paper 76139, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:76139
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    References listed on IDEAS

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    Cited by:

    1. Dariusz Filip, 2018. "The impact of fund attributes on performance: Empirical evidence for Polish equity funds," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(2), pages 465-488.

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    More about this item

    Keywords

    equity fund performance; managerial attributes;

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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