Holdings: Strategic Interactions and Portfolio Choice in Money Management : Evidence from Colombian Pension Funds

Strategic Interactions and Portfolio Choice in Money Management : Evidence from Colombian Pension Funds

This paper studies the portfolio choice of strategic fund managers in the presence of a peer-based underperformance penalty. Evidence is taken from the Colombian pension fund management industry, where six asset managers are in charge of portfolio...

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Bibliographic Details
Main Author:	Pedraza Morales, Alvaro
Language:	English en_US
Published:	World Bank Group, Washington, DC 2014
Subjects:	ACCOUNTING AGGREGATE FUND ASSET ALLOCATION ASSET CLASSES ASSET MANAGEMENT ASSET MANAGEMENT INDUSTRY ASSET MANAGERS ASSET PRICE ASSET PRICING ASSETS UNDER MANAGEMENT BANKRUPTCY BEHAVIOR OF MANAGERS BENCHMARKS BPS CAPTIVE MARKET CEO CONFIDENCE INTERVAL CONFIDENCE INTERVALS DEVELOPMENT BANK DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CORPORATE DEBT DOMESTIC MARKET DOMESTIC STOCK DOMESTIC STOCKS DUMMY VARIABLE EQUITY MUTUAL FUNDS EQUITY SECURITIES EXCESS PERFORMANCE EXPOSURE FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SERVICES FINANCIAL STUDIES FLOWS FUND FAMILIES FUND HOLDINGS FUND MANAGEMENT FUND MANAGER FUND MANAGERS FUND SHARE GOVERNMENT DEBT HEDGE FUND HEDGE FUND INDUSTRY HEDGE FUNDS HOLDING INDIVIDUAL ACCOUNTS INDIVIDUAL FUND INDIVIDUAL FUND RETURNS INDIVIDUAL RETIREMENT INDIVIDUAL RETIREMENT ACCOUNTS INDIVIDUAL SECURITIES INDIVIDUAL STOCK INDIVIDUAL STOCKS INSTITUTIONAL INVESTORS INTERNATIONAL BANK INVESTMENT BEHAVIOR INVESTMENT DECISION INVESTMENT STRATEGIES INVESTMENT STRATEGY LIQUIDITY MARKET BENCHMARK MARKET CAPITALIZATION MARKET INDEX MARKET PORTFOLIO MARKET RETURNS MOMENTUM INVESTMENT STRATEGIES MOMENTUM STRATEGIES MOMENTUM TRADING MONEY MANAGEMENT MONEY MANAGERS MUTUAL FUND MUTUAL FUND BEHAVIOR MUTUAL FUND HERDING MUTUAL FUND INDUSTRY MUTUAL FUND MANAGERS MUTUAL FUND PERFORMANCE MUTUAL FUNDS MUTUAL-FUND MUTUAL-FUND FAMILIES NUMBER OF SHARES OPTIMAL PORTFOLIO OVERALL PORTFOLIO PASSIVE PORTFOLIO PENSION PENSION FUND PENSION FUND INVESTMENT PENSION FUND MANAGERS PENSION FUNDS PENSION SYSTEM PENSION SYSTEMS PENSIONS PERFORMANCE FEES POLITICAL ECONOMY PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO CHANGE PORTFOLIO CHOICE PORTFOLIO CHOICES PORTFOLIO COMPOSITION PORTFOLIO HOLDING PORTFOLIO HOLDINGS PORTFOLIO MANAGEMENT PORTFOLIO MANAGERS PORTFOLIO OF FUND PORTFOLIO PERFORMANCE PORTFOLIO RETURNS PORTFOLIO STRATEGIES PORTFOLIO WEIGHT PORTFOLIO WEIGHTS PORTFOLIOS PRICE CHANGES PRIVATE PENSION PRIVATE SECTOR DEVELOPMENT PROFESSIONAL INVESTORS PURCHASING RATE OF RETURN REGULATORY CONSTRAINTS RETIREMENT SAVINGS RETURN RETURNS RISK TAKING S&P SALES SAVINGS SECURITIES SHARE OF ASSETS SHARE OF STOCK SHORT SELLING SMALL FUND STOCK CHARACTERISTICS STOCK INDEX STOCK MARKET STOCK OWNERSHIP STOCK PRICE STOCK PRICES STOCK RETURNS STOCK SPLITS STOCK TRADES STOCK WEIGHTS STOCKS SUCCESS FEES TIME DUMMY TRADING TRADING ACTIVITY TRADING VOLUME VALUE OF ASSETS WINDOW DRESSING
Online Access:	http://documents.worldbank.org/curated/en/2014/07/19902944/strategic-interactions-portfolio-choice-money-management-evidence-colombian-pension-funds http://hdl.handle.net/10986/19382

Internet

http://documents.worldbank.org/curated/en/2014/07/19902944/strategic-interactions-portfolio-choice-money-management-evidence-colombian-pension-funds
http://hdl.handle.net/10986/19382

Strategic Interactions and Portfolio Choice in Money Management : Evidence from Colombian Pension Funds

Internet

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