Hallahan, T and Faff, Robert and Benson, K (2008) Fortune favours the bold? exploring tournament behavior among Australian superannuation funds. Journal of Financial Services Research, 33 (3). pp. 205-220. ISSN 0920-8550
Full text not available in this repository. (Request a copy from the Strathclyde author)Abstract
In this paper we investigate the tournament induced risk-shifting behavior of Australian "multi-sector growth funds". We apply a regression-based methodology and examine tournaments based on the calendar year and the financial year. In our core analysis we find evidence in favor of Taylor's (J Econ Behav Organ 1455: 1-11, 2003) risk shifting tournament hypothesis for financial year-end tournaments. Apart from the standard tournament hypothesis we also report a range of findings regarding stability; fund age; and fund size. Support for the Taylor hypothesis generally continues across these variations as well.
| Item type: | Article |
|---|---|
| ID code: | 41060 |
| Keywords: | fortune, bold, tournament behavior , australian, superannuation funds, mutual funds, risk taking, incentives, tournaments, Accounting |
| Subjects: | Social Sciences > Commerce > Accounting |
| Department: | Strathclyde Business School > Accounting and Finance |
| Related URLs: | |
| Depositing user: | Pure Administrator |
| Date Deposited: | 10 Sep 2012 15:34 |
| Last modified: | 10 Sep 2012 15:34 |
| URI: | http://strathprints.strath.ac.uk/id/eprint/41060 |
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