Article ID Journal Published Year Pages File Type
5089685 Journal of Banking & Finance 2013 20 Pages PDF
Abstract
► Fund managers deviate from unobservable representative beliefs of peers. ► Portfolio allocations implied by representative beliefs reflect informed beliefs. ► Fund managers with portfolios close to representative beliefs possess more skill. ► Fund managers close to representative beliefs in the past outperform in the future.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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