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Full-Text Articles in Business
Is Manager Gender Important In The Performance Of Mutual Funds?, Steven Welch, Yunqing Wang
Is Manager Gender Important In The Performance Of Mutual Funds?, Steven Welch, Yunqing Wang
Accounting and Finance Faculty Publications
We investigate whether there are differences in characteristics and performance of mutual funds caused by the manager’s gender. Through examining a large sample of U.S. domestic equity mutual fund, we find some evidence that suggests female managers have a lower risk tolerance than males. This leads to the observation that females tend to hold a higher total number of assets (stocks) and fewer assets in their top 10 holdings than do male managers. We then analyze performance within funds over time in order to evaluate the impact of changes in management’s gender composition on funds’ performance. We find some evidence …
Which Students Trade The Most? – Five Years Of Evidence From Simulations In An Introductory Investments Course, Steven Welch
Which Students Trade The Most? – Five Years Of Evidence From Simulations In An Introductory Investments Course, Steven Welch
Accounting and Finance Faculty Publications
In investment literature, overconfidence among male investors has been shown bytheir relatively high trading frequency in spite of the evidence that more trading reduces returns by way of transactions costs. In this study, given the assumption that modern, college-educated students taking an investments class should be better educated than the average investor, we posit that female and male students should not have a significant difference between them in (over)confidence, and therefore, trading frequency. We also introduce a new concept of whether domestic or international students trade more frequently, and posit some possible explanations for the results.