Series: IMF Working Papers
Author(s): Deniz Igan , and Marcelo Pinheiro
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 08 September 2015
Keywords: Delegated portfolio management, Informativeness, Contagion, Home bias, market, markets, prices, price, value, Portfolio Choice,
We analyze the implications of linking the compensation of fund managers to the return of their portfolio relative to that of a benchmark-a common solution to the agency problem in delegated portfolio management. I...