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2015-03-12Buch DOI: 10.18452/4570
Pitfalls and Perils of Financial Innovation
dc.contributor.authorAdam, Tim
dc.contributor.authorGuettler, Andre
dc.date.accessioned2017-06-16T01:12:46Z
dc.date.available2017-06-16T01:12:46Z
dc.date.created2015-06-18
dc.date.issued2015-03-12
dc.date.submitted2015-03-12
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/5222
dc.description.abstractWe use the financial crisis of 2007–2009 as a laboratory to examine the costs and benefits of teams versus single managers in asset management. We find that when a fund uses complex trading strategies involving the use of CDS team-managed funds outperform solo-managed funds. This may be due to the greater diversity of expertise, experience and skill of teams relative to single managers. During the financial crisis, however, the performance premium of teams becomes negative, which may be because of the slower decision times of teams, which are especially costly during times of rapidly changing market conditions.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectperformanceeng
dc.subjectfinancial crisiseng
dc.subjectcredit default swapseng
dc.subjectMutual fundseng
dc.subjectmanagement teamseng
dc.subjectmarket timingeng
dc.subject.ddc310 Statistik
dc.subject.ddc330 Wirtschaft
dc.titlePitfalls and Perils of Financial Innovation
dc.typebook
dc.subtitleThe Use of CDS by Corporate Bond Funds
dc.identifier.urnurn:nbn:de:kobv:11-100230817
dc.identifier.doihttp://dx.doi.org/10.18452/4570
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages37
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2015
local.edoc.container-issue13
local.edoc.container-year2015
local.edoc.container-erstkatid2195055-6

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