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Evidence On Student-Managed Funds: A Survey Of U.S. Universities

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  • Zhuoming Joe Peng
  • William P. Dukes
  • Ronald Bremer

Abstract

An analysis of student-managed funds’ operations in 35 universities in the U.S. was conducted with the data collected through an Internet-based survey. The results indicate that CAPM is used in most SMFs as the means to estimate the required rate of return. Value Line and Wall Street Journal are the two most widely used information sources by SMFs. It is not common for a SMF to be equipped with its own trading room. The median value of the SMFs is $460,000, but the sampling distribution of the SMFs’ market capitalizations is highly right-skewed. Most of the SMFs have the same asset allocation decision. In total, about 69% of the SMFs in our sample invest at least 90% of the capital in Equity.

Suggested Citation

  • Zhuoming Joe Peng & William P. Dukes & Ronald Bremer, 2009. "Evidence On Student-Managed Funds: A Survey Of U.S. Universities," Business Education and Accreditation, The Institute for Business and Finance Research, vol. 1(1), pages 55-64.
    • Handle: RePEc:ibf:beaccr:v:1:y:2009:i:1:p:55-64
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    References listed on IDEAS

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    1. Grinder, Brian & Cooper, Dan W. & Britt, Michael, 1999. "An integrative approach to using student investment clubs and student investment funds in the finance curriculum," Financial Services Review, Elsevier, vol. 8(4), pages 211-221.
    2. Lawrence, Edward C, 1990. "Learning Portfolio Management by Experience: University Student Investment Funds," The Financial Review, Eastern Finance Association, vol. 25(1), pages 165-173, February.
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    Cited by:

    1. Ramsey, A. Ford & Isengildina-Massa, Olga, 2021. "Evaluation of Learning Outcomes from Participation in a Student-Managed Commodity Investment Fund," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 2(6), January.

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    1. Ramsey, A. Ford & Isengildina-Massa, Olga, 2021. "Evaluation of Learning Outcomes from Participation in a Student-Managed Commodity Investment Fund," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 2(6), January.
    2. Lynda S. Livingston & Shirley Mazaltov-Ast, 2022. "Are Student-Managed Funds Closet Indexers?," Business Education and Accreditation, The Institute for Business and Finance Research, vol. 14(1), pages 43-60.

    More about this item

    Keywords

    Education; Finance;

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • A29 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Other

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