Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266830 
Authors: 
Year of Publication: 
2020
Citation: 
[Journal:] Financial Internet Quarterly [ISSN:] 2719-3454 [Volume:] 16 [Issue:] 1 [Publisher:] Sciendo [Place:] Warsaw [Year:] 2020 [Pages:] 1-10
Publisher: 
Sciendo, Warsaw
Abstract: 
The aim of this study is to examine whether investment risk is related to the managerial factors characterising portfolio managers. The study employs four risk measures and a set of individual manager characteristics, including socio-demographic variables determining a manager profile. The analysis is conducted based on data for 144 portfolio managers from 43 domestic equity funds operating in Poland in the period 2000-2015. The examinations are made possible by using static panel models. The obtained results indicate the existence of a relationship between managerial characteristics and risk measures, such as: standard deviation, beta coefficient, tracking error and bear-market percentile ranking. To our knowledge, it is the first paper to evaluate the investment risk of Polish mutual funds in relation to managerial characteristics.
Subjects: 
mutual funds
investment risk
managerial characteristics
human capital
JEL: 
G23
J24
M12
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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