This is a past event
The seminar will be held via MS Teams on March 6th from 3pm - 4:15pm.
Hear from Dr Xiaofei Xing, a Lecturer (Assistant Professor) in Finance at the University of Birmingham.
Author(s): Jie (Michael) Guo, Vinay Utham, George Wang, Xiaofei Xing
Abstract: "We document striking evidence that cultural backgrounds, such as superstitious beliefs, can largely affect fund managers’ behaviour and performance. In the context of China’s trillion-dollar money management industry, we explore the effect of one of the most influential Chinese superstitious beliefs that zodiac years bring bad fortune. We find that fund managers, motivated by superstitious beliefs, tend to mimic the market index, lower their funds’ idiosyncratic risk, and deliver inferior performance to investors in their zodiac years. Interestingly, the zodiac year effects are sensitive to fund risk level. Bond fund managers are more susceptible to the zodiac year effects than hybrid and equity fund managers, which is consistent with the adaptation-level theory in the." psychology literature.
- Speaker
- Dr Xiaofei Xing
- Hosted by
- University of Aberdeen
- Contact
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No booking required.