Are two business degrees better than one? Evidence from mutual fund managers' education
AbstractWe analyze what a second business degree reveals about the investment behavior of professional investors. Specifically, we compare performance, risk, and style of equity mutual fund managers having a CFA designation and an MBA degree to managers with only one of these qualifications. We document that the performance between these groups does not significantly differ. However, managers with both degrees show less extreme and more persistent performance. Furthermore, consistent with the performance results, managers who gather both degrees also show less extreme and more stable risk levels and investment styles. --
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Bibliographic InfoPaper provided by University of Cologne, Centre for Financial Research (CFR) in its series CFR Working Papers with number 12-01.
Date of creation: 2012
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education; investment behavior; professional investors; mutual funds;
Find related papers by JEL classification:
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-04-10 (All new papers)
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