Local religious beliefs and mutual fund risk-taking behaviors / Tao Shu in Management science, Vol. 58 N° 10 (Octobre 2012)  

Public ISBD [article]  inManagement science > Vol. 58 N° 10 (Octobre 2012) . - pp. 1779-1796 Titre : Local religious beliefs and mutual fund risk-taking behaviors Type de document : texte imprimé Auteurs : Tao Shu, Auteur ; Johan Sulaeman, Auteur ; P. Eric Yeung, Auteur Année de publication : 2012 Article en page(s) : pp. 1779-1796 Note générale : Management Langues : Anglais (eng) Mots-clés : Risk-taking Mutual funds Geographic location Religion Résumé : We study the effects of local religious beliefs on mutual fund risk-taking behaviors. Funds located in low-Protestant or high-Catholic areas exhibit significantly higher fund return volatilities. Similar differences persist when we use the religiosity ratios at fund managers' college locations. Risk-taking associated with local religious beliefs manifests in higher portfolio concentrations, higher portfolio turnover, more aggressive interim trading, and more “tournament” risk-shifting behaviors, but not over-weighting risky individual stocks. Overall, our results suggest that local religious beliefs have significant influences on mutual fund behaviors. ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/58/10/1779.abstract [article] Local religious beliefs and mutual fund risk-taking behaviors [texte imprimé] / Tao Shu, Auteur ; Johan Sulaeman, Auteur ; P. Eric Yeung, Auteur . - 2012 . - pp. 1779-1796. Management Langues : Anglais (eng) in Management science > Vol. 58 N° 10 (Octobre 2012) . - pp. 1779-1796 Mots-clés : Risk-taking Mutual funds Geographic location Religion Résumé : We study the effects of local religious beliefs on mutual fund risk-taking behaviors. Funds located in low-Protestant or high-Catholic areas exhibit significantly higher fund return volatilities. Similar differences persist when we use the religiosity ratios at fund managers' college locations. Risk-taking associated with local religious beliefs manifests in higher portfolio concentrations, higher portfolio turnover, more aggressive interim trading, and more “tournament” risk-shifting behaviors, but not over-weighting risky individual stocks. Overall, our results suggest that local religious beliefs have significant influences on mutual fund behaviors. ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/58/10/1779.abstract

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