Global tournaments

Javier Vidal-García (), Marta Vidal, Laura Molero González and Juan E. Trinidad-Segovia
Additional contact information
Javier Vidal-García: Complutense University of Madrid
Marta Vidal: Universidad Europea de Madrid
Laura Molero González: University of Almería
Juan E. Trinidad-Segovia: University of Almería

Risk Management, 2025, vol. 27, issue 1, No 5, 13 pages

Abstract: Abstract We examine whether funds that lag performance around the world increase their risk exposure to improve performance with the intention that larger returns will attract new capital inflow and boost the fund manager´s fees. Previous research confirmed that underperforming funds increased their risk to improve performance, the aim of this paper is to examine whether this phenomenon holds around the world using daily returns. The major problem of employing monthly observations to measure risk on an annual basis is that insufficient data prevent adequate evaluations, to address this issue we use a large sample of daily returns for funds in 35 countries around the world over the 1990–2023 period.

Keywords: Mutual funds; Tournaments; Portfolio management; Fund performance (search for similar items in EconPapers)
JEL-codes: G11 G12 (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1057/s41283-024-00157-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:risman:v:27:y:2025:i:1:d:10.1057_s41283-024-00157-1

Ordering information: This journal article can be ordered from
https://www.palgrave.com/gp/journal/41283

DOI: 10.1057/s41283-024-00157-1

Access Statistics for this article

Risk Management is currently edited by Igor Loncarski

More articles in Risk Management from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().