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Consistency of Risk Attitude and other Investment Behavior of Japanese Fund Managers

In: Studies On Financial Markets In East Asia

Author

Listed:
  • Masayuki Susai

    (Nagasaki University, Japan)

  • Hiroshi Moriyasu

    (Nagasaki University, Japan)

Abstract

In this paper, we investigate risk consistency and other investment behaviors of fund managers working at Japanese investment institutions using a questionnaire based survey that was conducted in October of 2005. In particular, we focused on the herding behavior and disposition effect of fund managers. We found that ‘risk inconsistent’ fund managers have a tendency to show disposition behavior. As for herding behavior, we could not find any strong evidence that might indicate a difference between the two groups.

Suggested Citation

  • Masayuki Susai & Hiroshi Moriyasu, 2011. "Consistency of Risk Attitude and other Investment Behavior of Japanese Fund Managers," World Scientific Book Chapters, in: Masayuki Susai & Shigeru Uchida (ed.), Studies On Financial Markets In East Asia, chapter 10, pages 165-180, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814343374_0010
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