Career concerns in financial markets
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Andrea Prat & Amil Dasgupta, 2004. "Career Concerns in Financial Markets," FMG Discussion Papers dp494, Financial Markets Group.
References listed on IDEAS
- Andrea Prat, 2005.
"The Wrong Kind of Transparency,"
American Economic Review, American Economic Association, vol. 95(3), pages 862-877, June.
- Prat, Andrea, 2002. "The wrong kind of transparency," LSE Research Online Documents on Economics 3679, London School of Economics and Political Science, LSE Library.
- Prat, Andrea, 2003. "The Wrong Kind of Transparency," CEPR Discussion Papers 3859, C.E.P.R. Discussion Papers.
- Andrea Prat, 2002. "The Wrong Kind of Transparency," STICERD - Theoretical Economics Paper Series 439, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Prat, Andrea, 2004. "The wrong kind of transparency," LSE Research Online Documents on Economics 24712, London School of Economics and Political Science, LSE Library.
- repec:bla:jfinan:v:55:y:2000:i:4:p:1655-1703 is not listed on IDEAS
- Ippolito, Richard A, 1992. "Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund Industry," Journal of Law and Economics, University of Chicago Press, vol. 35(1), pages 45-70, April.
- Edwin J. Elton & Martin J. Gruber & Christopher R. Blake, 2003. "Incentive Fees and Mutual Funds," Journal of Finance, American Finance Association, vol. 58(2), pages 779-804, April.
- Chevalier, Judith & Ellison, Glenn, 1997.
"Risk Taking by Mutual Funds as a Response to Incentives,"
Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1167-1200, December.
- Judith A. Chevalier & Glenn D. Ellison, 1995. "Risk Taking by Mutual Funds as a Response to Incentives," NBER Working Papers 5234, National Bureau of Economic Research, Inc.
- Chevalier, J. & Ellison, G., 1996. "Risk Taking by Mutual Funds as a Response to Incentives," Working papers 96-3, Massachusetts Institute of Technology (MIT), Department of Economics.
- Judith Chevalier & Glenn Ellison, 1999.
"Career Concerns of Mutual Fund Managers,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(2), pages 389-432.
- Judith Chevalier & Glenn Ellison, 1998. "Career Concerns of Mutual Fund Managers," NBER Working Papers 6394, National Bureau of Economic Research, Inc.
- Glosten, Lawrence R. & Milgrom, Paul R., 1985.
"Bid, ask and transaction prices in a specialist market with heterogeneously informed traders,"
Journal of Financial Economics, Elsevier, vol. 14(1), pages 71-100, March.
- Lawrence R. Glosten & Paul R. Milgrom, 1983. "Bid, Ask and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders," Discussion Papers 570, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Zitzewitz, Eric, 2001. "Measuring Herding and Exaggeration by Equity Analysts and Other Opinion Sellers," Research Papers 1802, Stanford University, Graduate School of Business.
- Gibbons, Robert & Murphy, Kevin J, 1992.
"Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence,"
Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 468-505, June.
- Gibbons, R. & Murphy, K.J., 1990. "Optimal Incentive Contracts In The Presence Of Career Concerns: Theory And Evidence," Working papers 563, Massachusetts Institute of Technology (MIT), Department of Economics.
- Robert Gibbons & Kevin J. Murphy, 1991. "Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence," NBER Working Papers 3792, National Bureau of Economic Research, Inc.
- Murphy, K.J. & Gibbons, R., 1990. "Optimal Incentive Contracts in the Presence of Career Concerns : Theory and Evidence," Papers 90-09, Rochester, Business - Managerial Economics Research Center.
- repec:bla:jfinan:v:43:y:1988:i:1:p:83-95 is not listed on IDEAS
- Dow, James & Gorton, Gary, 1997.
"Noise Trading, Delegated Portfolio Management, and Economic Welfare,"
Journal of Political Economy, University of Chicago Press, vol. 105(5), pages 1024-1050, October.
- James Dow & Gary Gorton, "undated". "Noise Trading, Delegated Portfolio Management, and Economic Welfare," Rodney L. White Center for Financial Research Working Papers 19-94, Wharton School Rodney L. White Center for Financial Research.
- James Dow & Gary Gorton, 1994. "Noise Trading, Delegated Portfolio Management, and Economic Welfare," Center for Financial Institutions Working Papers 95-10, Wharton School Center for Financial Institutions, University of Pennsylvania.
- James Dow & Gary Gorton, 1994. "Noise Trading, Delegated Portfolio Management, and Economic Welfare," NBER Working Papers 4858, National Bureau of Economic Research, Inc.
- Kyle, Albert S, 1985. "Continuous Auctions and Insider Trading," Econometrica, Econometric Society, vol. 53(6), pages 1315-1335, November.
- Bengt Holmstrom & Joan Ricart i Costa, 1986. "Managerial Incentives and Capital Management," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(4), pages 835-860.
- Scharfstein, David S & Stein, Jeremy C, 1990.
"Herd Behavior and Investment,"
American Economic Review, American Economic Association, vol. 80(3), pages 465-479, June.
- Scharfstein, David. & Stein, Jeremy C., 1988. "Herd behavior and investment," Working papers WP 2062-88., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Bengt Holmström, 1999.
"Managerial Incentive Problems: A Dynamic Perspective,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 169-182.
- Bengt Holmstrom, 1999. "Managerial Incentive Problems: A Dynamic Perspective," NBER Working Papers 6875, National Bureau of Economic Research, Inc.
- Russ Wermers, 2000. "Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses," Journal of Finance, American Finance Association, vol. 55(4), pages 1655-1695, August.
- Kyle, Albert S & Wang, F Albert, 1997. "Speculation Duopoly with Agreement to Disagree: Can Overconfidence Survive the Market Test?," Journal of Finance, American Finance Association, vol. 52(5), pages 2073-2090, December.
- Franklin Allen, 2001.
"Do Financial Institutions Matter?,"
Journal of Finance, American Finance Association, vol. 56(4), pages 1165-1175, August.
- Franklin Allen, 2001. "Do Financial Institutions Matter?," Center for Financial Institutions Working Papers 01-04, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Bengt Holmstrom & Joan Ricart i Costa, 1986.
"Managerial Incentives and Capital Management,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(4), pages 835-860.
- Bengt Holmstrom & I. Ricard & Joan Costa, 1984. "Managerial Incentives and Capital Management," Cowles Foundation Discussion Papers 729, Cowles Foundation for Research in Economics, Yale University.
- Franklin Allen & Gary Gorton, 1993. "Churning Bubbles," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(4), pages 813-836.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Amil Dasgupta & Andrea Prat, 2005. "Reputation and Asset Prices: A Theory of Information Cascades and Systematic Mispricing," Levine's Bibliography 784828000000000368, UCLA Department of Economics.
- Andrea Prat & Amil Dasgupta, 2005. "Reputation and Price Dynamics in Financial Markets," 2005 Meeting Papers 222, Society for Economic Dynamics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Dasgupta, Amil & Prat, Andrea, 2008. "Information aggregation in financial markets with career concerns," Journal of Economic Theory, Elsevier, vol. 143(1), pages 83-113, November.
- Prat, Andrea & Dasgupta, Amil, 2003. "Trading Volume with Career Concerns," CEPR Discussion Papers 4034, C.E.P.R. Discussion Papers.
- Amil Dasgupta & Andrea Prat, 2005. "Reputation and Asset Prices: A Theory of Information Cascades and Systematic Mispricing," Levine's Bibliography 784828000000000368, UCLA Department of Economics.
- Andrea Prat & Amil Dasgupta, 2005. "Reputation and Price Dynamics in Financial Markets," 2005 Meeting Papers 222, Society for Economic Dynamics.
- Citci, Sadettin Haluk & Inci, Eren, 2016.
"The masquerade ball of the CEOs and the mask of excessive risk,"
Economic Modelling, Elsevier, vol. 58(C), pages 383-393.
- Citci, Haluk & Inci, Eren, 2012. "The Masquerade Ball of the CEOs and the Mask of Excessive Risk," MPRA Paper 35979, University Library of Munich, Germany.
- Li, Xiaoyang & Low, Angie & Makhija, Anil K., 2011. "Career Concerns and the Busy Life of the Young CEO," Working Paper Series 2011-4, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Hui Liang James, 2020. "CEO age and tax planning," Review of Financial Economics, John Wiley & Sons, vol. 38(2), pages 275-299, April.
- Li, Xiaoyang & Low, Angie & Makhija, Anil K., 2017. "Career concerns and the busy life of the young CEO," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 88-109.
- Hirshleifer, David & Teoh, Siew Hong, 2008.
"Thought and Behavior Contagion in Capital Markets,"
MPRA Paper
9164, University Library of Munich, Germany.
- Hirshleifer, David & Teoh, Siew Hong, 2008. "Thought and Behavior Contagion in Capital Markets," MPRA Paper 9142, University Library of Munich, Germany.
- Peter Cziraki & Moqi Xu, 2014. "Ceo Job Security And Risk-Taking," FMG Discussion Papers dp729, Financial Markets Group.
- Ottaviani, Marco & Sorensen, Peter Norman, 2006.
"Professional advice,"
Journal of Economic Theory, Elsevier, vol. 126(1), pages 120-142, January.
- Marco Ottaviani & Peter Sorensen, 1999. "Professional Advice," Game Theory and Information 9906003, University Library of Munich, Germany.
- Eduard Marinov, 2016. "The 2016 Nobel Prize in Economics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 97-149.
- Marco Ottaviani & Peter Norman Sorensen, 2002. "Professional Advice: The Theory of Reputational Cheap Talk," Discussion Papers 02-05, University of Copenhagen. Department of Economics.
- Englmaier, Florian & Filipi, Ales & Singh, Ravi, 2010.
"Incentives, reputation and the allocation of authority,"
Journal of Economic Behavior & Organization, Elsevier, vol. 76(2), pages 413-427, November.
- Florian Englmaier & Ales Filipi & Ravi Singh, 2010. "Incentives, Reputation and the Allocation of Authority," CESifo Working Paper Series 2979, CESifo.
- Englmaier, Florian & Filipi, Ales & Singh, Ravi, 2010. "Incentives, Reputation and the Allocation of Authority," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 327, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Englmaier, Florian & Filipi, Ales & Singh, Ravi, 2010. "Incentives, reputation and the allocation of authority," Munich Reprints in Economics 22012, University of Munich, Department of Economics.
- Florian Englmaier & Ales Filipi & Ravi Singh, 2010. "Incentives, Reputation and the Allocation of Authority," Post-Print hal-00870189, HAL.
- Clemens A. Otto & Paolo F. Volpin, 2018. "Marking to Market and Inefficient Investment Decisions," Management Science, INFORMS, vol. 64(8), pages 3756-3771, August.
- Judith Chevalier & Glenn Ellison, 1999.
"Career Concerns of Mutual Fund Managers,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(2), pages 389-432.
- Judith Chevalier & Glenn Ellison, 1998. "Career Concerns of Mutual Fund Managers," NBER Working Papers 6394, National Bureau of Economic Research, Inc.
- Amil Dasgupta & Andrea Prat & Michela Verardo, 2011.
"The Price Impact of Institutional Herding,"
The Review of Financial Studies, Society for Financial Studies, vol. 24(3), pages 892-925.
- Amil Dasgupta & Andrea Prat & Michela Verardo, 2010. "The Price Impact of Institutional Herding," FMG Discussion Papers dp652, Financial Markets Group.
- Prat, Andrea & Dasgupta, Amil & Verardo, Michela, 2010. "The Price Impact of Institutional Herding," CEPR Discussion Papers 7804, C.E.P.R. Discussion Papers.
- Liu, Yaozhou Franklin & Sanyal, Amal, 2012.
"When second opinions hurt: A model of expert advice under career concerns,"
Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 1-16.
- Liu, Yaozhou Franklin & Sanyal, Amal, 2010. "When Second Opinions Hurt: A Model of Expert Advice under Career Conce rns," Working Papers 2010-08, University of Sydney, School of Economics.
- Liu, Yaozhou Franklin & Sanyal, Amal, 2010. "When second opinions hurt: a model of expert advice under career concerns," MPRA Paper 27176, University Library of Munich, Germany.
- Amil Dasgupta & Andrea Prat & Michela Verardo, 2011.
"Institutional Trade Persistence and Long‐Term Equity Returns,"
Journal of Finance, American Finance Association, vol. 66(2), pages 635-653, April.
- Prat, Andrea & Dasgupta, Amil & Verardo, Michela, 2007. "Institutional Trade Persistence and Long-Term Equity Returns," CEPR Discussion Papers 6374, C.E.P.R. Discussion Papers.
- Amil Dasgupta & Andrea Prat & Michela Verardo, 2010. "Institutional Trade Persistence and Long-term Equity Returns," FMG Discussion Papers dp661, Financial Markets Group.
- Livio Stracca, 2006.
"Delegated Portfolio Management: A Survey Of The Theoretical Literature,"
Journal of Economic Surveys, Wiley Blackwell, vol. 20(5), pages 823-848, December.
- Stracca, Livio, 2005. "Delegated portfolio management: a survey of the theoretical literature," Working Paper Series 520, European Central Bank.
More about this item
JEL classification:
- G00 - Financial Economics - - General - - - General
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
Statistics
Access and download statisticsCorrections
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:ehl:lserod:24706. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: LSERO Manager (email available below). General contact details of provider: https://edirc.repec.org/data/lsepsuk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.