Portfolio Performance Manipulation and Manipulation-Proof Performance Measures
William Goetzmann (),
Matthew Spiegel and
Ivo Welch ()
Yale School of Management Working Papers from Yale School of Management
Over the years numerous portfolio performance measures have been proposed. In general they are designed to capture some particular enhancement that might result from active management. However, if a principal uses a measure to judge an agent, then the agent has an incentive to game the measure. Our paper sh
Date: 2002-03-01, Revised 2006-04-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed
Downloads: (external link)
Journal Article: Portfolio Performance Manipulation and Manipulation-proof Performance Measures (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ysm:somwrk:amz2471
Access Statistics for this paper
More papers in Yale School of Management Working Papers from Yale School of Management Contact information at EDIRC.
Bibliographic data for series maintained by ().