Universal Journal of Management Vol. 2(2), pp. 100 - 103
DOI: 10.13189/ujm.2014.020206
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Human Capital, Career Concern and Investment Behavior of Managers: An Empirical Examination on Close-end Funds in China

Hong Gong ^1,2,*, Wen Huo ^1
1 Economics and Management School, Wuhan University, Wuhan, PR.China
² Research Center for China Industry-University-Research Institute Collaboration of Wuhan University, Wuhan, PR.China

ABSTRACT

By an empirical examination on investment fund market in China, We find that portfolio managers’ turnover does not affect the risk adjustment strategy of the funds, demonstrating that fund companies rather than portfolio managers are in charge of the fund investment strategy. Moreover, Chinese portfolio managers, even after they have been terminated, would be appointed other positions in the same fund company. It seems that this kind of turnover hardly has sufficient pressure on portfolio managers.

KEYWORDS
Portfolio Manager, Career, Turnover, Risk Taking Behavior

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Hong Gong , Wen Huo , "Human Capital, Career Concern and Investment Behavior of Managers: An Empirical Examination on Close-end Funds in China," Universal Journal of Management, Vol. 2, No. 2, pp. 100 - 103, 2014. DOI: 10.13189/ujm.2014.020206.

(b). APA Format:
Hong Gong , Wen Huo (2014). Human Capital, Career Concern and Investment Behavior of Managers: An Empirical Examination on Close-end Funds in China. Universal Journal of Management, 2(2), 100 - 103. DOI: 10.13189/ujm.2014.020206.