Matches in SemOpenAlex for { <https://semopenalex.org/work/W2528728374> ?p ?o ?g. }
- W2528728374 endingPage "58" @default.
- W2528728374 startingPage "36" @default.
- W2528728374 abstract "We study whether pension fund managers, as professionals of important social and financial products, are able to add value for their clients and adapt to economic changes. To this end, we analyze the performance and skills (market timing and stock picking) over the economic cycle from both pension fund and manager perspectives. This double analysis allows examining whether skills reside in managers and/or funds and control for manager substitutions. Despite the long-term nature of pension funds, we find that both fund and manager skills vary with market conditions, showing better evidence of stock-picking in booms, and of market timing in recessions. Nonetheless, top (bottom) funds and managers exhibit both (incorrect) skills in booms and in recessions. Some of the top (bottom) funds and managers are the best (worst) in both abilities in the same periods, but not in different periods, showing that not all managers have the ability to adapt to market conditions. Additionally, managers with limited skills tend to specialize because diversification requires multi-task skills and the non-specialization of these managers usually results in incorrect skills." @default.
- W2528728374 created "2016-10-14" @default.
- W2528728374 creator A5004201055 @default.
- W2528728374 date "2016-10-03" @default.
- W2528728374 modified "2023-10-02" @default.
- W2528728374 title "Pension fund manager skills over the economic cycle: the (non-)specialization cost" @default.
- W2528728374 cites W1981264385 @default.
- W2528728374 cites W1986395321 @default.
- W2528728374 cites W1992143603 @default.
- W2528728374 cites W1995834279 @default.
- W2528728374 cites W1998832427 @default.
- W2528728374 cites W1998968611 @default.
- W2528728374 cites W2039901356 @default.
- W2528728374 cites W2046365537 @default.
- W2528728374 cites W2054349855 @default.
- W2528728374 cites W2068047835 @default.
- W2528728374 cites W2070696510 @default.
- W2528728374 cites W2078870183 @default.
- W2528728374 cites W2086150820 @default.
- W2528728374 cites W2096253570 @default.
- W2528728374 cites W2132616347 @default.
- W2528728374 cites W2136120210 @default.
- W2528728374 cites W2139509806 @default.
- W2528728374 cites W2151352599 @default.
- W2528728374 cites W2157631477 @default.
- W2528728374 cites W2162022588 @default.
- W2528728374 cites W2169645335 @default.
- W2528728374 cites W2738776643 @default.
- W2528728374 cites W3121418935 @default.
- W2528728374 cites W3122237084 @default.
- W2528728374 cites W3122317425 @default.
- W2528728374 cites W3122345771 @default.
- W2528728374 cites W3122426062 @default.
- W2528728374 cites W3123441366 @default.
- W2528728374 cites W3123808401 @default.
- W2528728374 cites W3124558013 @default.
- W2528728374 cites W3124734403 @default.
- W2528728374 cites W3124797966 @default.
- W2528728374 cites W3125014741 @default.
- W2528728374 cites W3125174925 @default.
- W2528728374 cites W3125252060 @default.
- W2528728374 cites W3125350408 @default.
- W2528728374 cites W3125473384 @default.
- W2528728374 cites W3125527067 @default.
- W2528728374 cites W3125717248 @default.
- W2528728374 cites W4235358479 @default.
- W2528728374 cites W4256425349 @default.
- W2528728374 doi "https://doi.org/10.1080/1351847x.2016.1239585" @default.
- W2528728374 hasPublicationYear "2016" @default.
- W2528728374 type Work @default.
- W2528728374 sameAs 2528728374 @default.
- W2528728374 citedByCount "4" @default.
- W2528728374 countsByYear W25287283742018 @default.
- W2528728374 countsByYear W25287283742020 @default.
- W2528728374 countsByYear W25287283742021 @default.
- W2528728374 countsByYear W25287283742022 @default.
- W2528728374 crossrefType "journal-article" @default.
- W2528728374 hasAuthorship W2528728374A5004201055 @default.
- W2528728374 hasBestOaLocation W25287283742 @default.
- W2528728374 hasConcept C10138342 @default.
- W2528728374 hasConcept C11393971 @default.
- W2528728374 hasConcept C118315980 @default.
- W2528728374 hasConcept C127413603 @default.
- W2528728374 hasConcept C141441539 @default.
- W2528728374 hasConcept C144133560 @default.
- W2528728374 hasConcept C151730666 @default.
- W2528728374 hasConcept C162324750 @default.
- W2528728374 hasConcept C162853370 @default.
- W2528728374 hasConcept C165556158 @default.
- W2528728374 hasConcept C180916674 @default.
- W2528728374 hasConcept C183582576 @default.
- W2528728374 hasConcept C195742910 @default.
- W2528728374 hasConcept C204036174 @default.
- W2528728374 hasConcept C2780299701 @default.
- W2528728374 hasConcept C2780762169 @default.
- W2528728374 hasConcept C2780821815 @default.
- W2528728374 hasConcept C2780899237 @default.
- W2528728374 hasConcept C78519656 @default.
- W2528728374 hasConcept C86803240 @default.
- W2528728374 hasConcept C87717796 @default.
- W2528728374 hasConcept C97082442 @default.
- W2528728374 hasConceptScore W2528728374C10138342 @default.
- W2528728374 hasConceptScore W2528728374C11393971 @default.
- W2528728374 hasConceptScore W2528728374C118315980 @default.
- W2528728374 hasConceptScore W2528728374C127413603 @default.
- W2528728374 hasConceptScore W2528728374C141441539 @default.
- W2528728374 hasConceptScore W2528728374C144133560 @default.
- W2528728374 hasConceptScore W2528728374C151730666 @default.
- W2528728374 hasConceptScore W2528728374C162324750 @default.
- W2528728374 hasConceptScore W2528728374C162853370 @default.
- W2528728374 hasConceptScore W2528728374C165556158 @default.
- W2528728374 hasConceptScore W2528728374C180916674 @default.
- W2528728374 hasConceptScore W2528728374C183582576 @default.
- W2528728374 hasConceptScore W2528728374C195742910 @default.
- W2528728374 hasConceptScore W2528728374C204036174 @default.
- W2528728374 hasConceptScore W2528728374C2780299701 @default.
- W2528728374 hasConceptScore W2528728374C2780762169 @default.
- W2528728374 hasConceptScore W2528728374C2780821815 @default.