IDEAS home Printed from https://ideas.repec.org/a/eme/ijmfpp/v3y2007i1p49-69.html
   My bibliography  Save this article

Decision processes in German mutual fund companies: evidence from a telephone survey

Author

Listed:
  • Kerstin Drachter
  • Alexander Kempf
  • Michael Wagner

Abstract

Purpose - The performance of actively managed mutual funds is largely dependent upon the investment decisions of the fund managers. The purpose of this study is to examine the decision processes in German fund companies and their impact on fund performance. Design/methodology/approach - The paper uses a telephone survey to assess the behavior and attitudes of German mutual fund managers. The design of the survey allows a linkage of fund manager data with information about mutual funds and fund management companies. Findings - The evidence shows firstly, that it is possible to conduct a high quality survey study even though managers know that their answers will be linked to their performance and secondly, that the behavior of managers depends heavily on the characteristics of the funds and the characteristics of the fund company. Research limitations/implications - In the paper, factors are identified which influence the short‐term performance of fund managers. In further studies, one should examine whether these factors also determine the long‐term performance of fund managers. Originality/value - This is the first survey study that attempts to link the information provided by fund managers to information about the funds and fund companies.

Suggested Citation

  • Kerstin Drachter & Alexander Kempf & Michael Wagner, 2007. "Decision processes in German mutual fund companies: evidence from a telephone survey," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 3(1), pages 49-69, January.
    • Handle: RePEc:eme:ijmfpp:v:3:y:2007:i:1:p:49-69
    DOI: 10.1108/17439130710721653
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/17439130710721653/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/17439130710721653/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/17439130710721653?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Coleman, Les, 2014. "Why finance theory fails to survive contact with the real world: A fund manager perspective," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(3), pages 226-236.
    2. Deepak Chawla, 2014. "An Empirical Analysis of Factors Influencing Investment in Mutual Funds in India," Global Business Review, International Management Institute, vol. 15(3), pages 493-503, September.
    3. Brooks, Chris & Fenton, Evelyn & Schopohl, Lisa & Walker, James, 2019. "Why does research in finance have so little impact?," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 58(C), pages 24-52.
    4. Thomas P. Gehrig & Torben Lütje & Lukas Menkhoff, 2009. "Bonus Payments and Fund Managers' Behavior: Transatlantic Evidence," CESifo Economic Studies, CESifo Group, vol. 55(3-4), pages 569-594.
    5. Michela Rancan, 2013. "The Value of Social Networks in Financial Markets," RSCAS Working Papers 2013/21, European University Institute.

    More about this item

    Keywords

    Unit trusts; Surveys; Germany;
    All these keywords.

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:ijmfpp:v:3:y:2007:i:1:p:49-69. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.