Managerial Incentives and Financial Contagion /
This paper proposes a framework for comovements of asset prices with seemingly unrelated fundamentals, as an outcome of optimal portfolio strategies by fund managers. In emerging markets, dedicated managers outperforming a benchmark index and global managers maximizing absolute returns lead to syste...
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| Materialtyp: | Tidskrift |
| Språk: | English |
| Publicerad: |
Washington, D.C. :
International Monetary Fund,
2004.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2004/199 |
| Länkar: | Full text available on IMF |