Show simple item record

2015-03-30Buch DOI: 10.18452/4575
Manager Characteristics and Credit Derivative Use by U.S. Corporate Bond Funds
dc.contributor.authorGałkiewicz, Dominika Paula
dc.date.accessioned2017-06-16T01:13:47Z
dc.date.available2017-06-16T01:13:47Z
dc.date.created2015-06-18
dc.date.issued2015-03-30
dc.date.submitted2015-03-30
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/5227
dc.description.abstractThis study provides a comprehensive overview of the use of credit default swaps by U.S. corporate bond funds and analyzes in detail whether certain characteristics of managers, in addition to the fundamentals of a fund, determine how their use these credit derivatives. Results suggest that a manager’s education, age, experience, and skill are positively correlated with a fund’s CDS holdings. In particular, managers holding a master’s degree or educated at prestigious universities prefer using CDS. However, funds with older, more experienced managers or these keeping higher assets under their management are more likely to take on credit risk via selling CDS protection. Younger managers or managers that were educated at prestigious universities rather tend to buy CDS protection possibly due to differing concerns about their careers. If considering the Heckman correction for self-selection of funds into CDS use, the aforementioned findings remain stable.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.subjectManagereng
dc.subjectmanager characteristiceng
dc.subjectmutual fundeng
dc.subjectderivative useeng
dc.subjectcredit default swapeng
dc.subject.ddc310 Statistik
dc.subject.ddc330 Wirtschaft
dc.titleManager Characteristics and Credit Derivative Use by U.S. Corporate Bond Funds
dc.typebook
dc.identifier.urnurn:nbn:de:kobv:11-100230877
dc.identifier.doihttp://dx.doi.org/10.18452/4575
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages55
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2015
local.edoc.container-issue18
local.edoc.container-year2015
local.edoc.container-erstkatid2195055-6

Show simple item record