The distorting effect of the prudent-man laws on institutional equity investments

Article Abstract:

The effects of legal liabilities on the investment behavior and preference of institutional investment managers is examined. Bank managers and investment managers, prefer to invest in high quality stocks because of legal constraints. Mutual fund managers, however, are not affected by such constraints and can invest in relatively high-risk but high return investments. This difference in tendencies could account for the discrepancies in their investment performance.

Commercial Banks, Bank Investment Advisory Services, Management, Portfolio management, Institutional investments

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The performance of professional market timers: daily evidence from executed strategies

Article Abstract:

The abilities of 30 investment advisers are evaluated between 1986 and 1995 on a daily basis. When evaluated on a monthly basis, the strong performance of specific advisers is negligible. It is important to have daily performance evaluations to determine the abilities of the advisers.

Statistics, Mutual fund industry

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Following the leader: a study of individual analysts' earnings forecasts

Article Abstract:

A study to develop a ranking system for security analysts is provided.

Investment analysis, Securities analysis

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