Is There Too Much Benchmarking in Asset Management?
收藏NBER2020-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28020
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资源简介：
We propose a tractable model of asset management in which benchmarking arises endogenously, and analyze its unintended welfare consequences. Fund managers portfolios are not contractible and they incur private costs in running them. Incentive contracts for fund managers create a pecuniary
提供机构：
美国国家经济研究局
创建时间：
2020-11-01
