摘要
对股票型基金的风格漂移与基金经理个人特征之间的相关性进行实证研究。结果表明:海外学习背景、职业资格证书、从业经验越有助于保持基金风格的一致性;拥有博士或硕士学位的基金经理相比仅有学士学位的经理表现出更强烈的风格漂移倾向;基金经理变更越频繁,基金运营时间越长,其风格漂移越严重;集中管理制模式在熊市中有助于降低基金风格漂移程度,但在牛市中则影响效果不显著。
This paper makes an empirical analysis of the relationship by the data from open - funds. Result shows that personnel changes in fund managers and fund operation time have positive correlation with fund style drift. The fund managers with doctoral or master degree show stronger tendency to drift style than those with only bachelor degree. Some personal characteristic such as overseas study background, professional qualification certificates and experience can help to maintain fund style consistency. The centralized management model in funds can reduce style drift in bear market, but it shows no significant effect in the bull market.
出处
《软科学》
CSSCI
北大核心
2010年第2期123-128,共6页
Soft Science
基金
国家自然科学基金项目(70571069)
教育部人文社会科学研究项目(07JA630017)
关键词
投资风格
风格漂移
个人特征
investment style
style drift
personal characteristic
