Russ Wermers

University of Maryland - Robert H. Smith School of Business

Professor of Finance

Department of Finance

College Park, MD 20742-1815

United States

http://www.rhsmith.umd.edu/finance/rwermers/

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

SCHOLARLY PAPERS

50

DOWNLOADS
Rank 523

SSRN RANKINGS

Top 523

in Total Papers Downloads

46,901

SSRN CITATIONS
Rank 1,352

SSRN RANKINGS

Top 1,352

in Total Papers Citations

541

CROSSREF CITATIONS

361

Scholarly Papers (50)

1.

Is Money Really 'Smart'? New Evidence on the Relation between Mutual Fund Flows, Manager Behavior, and Performance Persistence

Number of pages: 56 Posted: 23 Jul 2003
Russ Wermers
University of Maryland - Robert H. Smith School of Business
Downloads 7,434 (970)
Citation 61

Abstract:

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mutual funds, market efficiency, performance evaluation

2.

False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas

Published in Journal of Finance, February 2010, Swiss Finance Institute Research Paper No. 08-18, Robert H. Smith School Research Paper No. RHS 06-043
Number of pages: 53 Posted: 05 Mar 2008 Last Revised: 27 Oct 2019
Laurent Barras, O. Scaillet and Russ Wermers
McGill University - Desautels Faculty of Management, University of Geneva GSEM and GFRI and University of Maryland - Robert H. Smith School of Business
Downloads 5,955 (1,446)
Citation 44

Abstract:

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Mutual Fund Performance, Multiple-Hypothesis Test, Luck, False Discovery Rate

3.
Downloads 4,185 ( 2,664)
Citation 57

Investing in Mutual Funds When Returns are Predictable

Number of pages: 58 Posted: 08 Jun 2004
Doron Avramov and Russ Wermers
Interdisciplinary Center (IDC) Herzliyah and University of Maryland - Robert H. Smith School of Business
Downloads 4,185 (2,625)
Citation 57

Abstract:

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Equity mutual fund, asset allocation, manager skills, business cycle

Investing in Mutual Funds When Returns are Predictable

Journal of Financial Economics (JFE), Forthcoming
Posted: 01 Jun 2005
Doron Avramov and Russ Wermers
Interdisciplinary Center (IDC) Herzliyah and University of Maryland - Robert H. Smith School of Business

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4.

Forecasting Stock Returns through An Efficient Aggregation of Mutual Fund Holdings

Review of Financial Studies, Forthcoming, AFA 2007 Chicago Meetings Paper
Number of pages: 50 Posted: 19 Mar 2006 Last Revised: 17 Jul 2012
Russ Wermers, Tong Yao and Jane Zhao
University of Maryland - Robert H. Smith School of Business, University of Iowa - Henry B. Tippie College of Business and PanAgora Asset Management
Downloads 2,946 (4,872)
Citation 14

Abstract:

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mutual funds, performance persistence, portfolio disclosure, stock selection

Monitoring Daily Hedge Fund Performance When Only Monthly Data is Available

Number of pages: 28 Posted: 20 Mar 2009 Last Revised: 09 Jan 2013
Daniel Li, Michael Markov and Russ Wermers
Markov Processes International LLC, Markov Processes International LLC and University of Maryland - Robert H. Smith School of Business
Downloads 1,937 (9,523)
Citation 3

Abstract:

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hedge funds, hedging, replication, portfolio management, risk management, VaR

Monitoring Daily Hedge Fund Performance When Only Monthly Data is Available

Journal of Investment Consulting, Vol. 14, No. 1, 57-68, 2013
Number of pages: 14 Posted: 23 Dec 2013
Daniel Li, Michael Markov and Russ Wermers
Markov Processes International LLC, Markov Processes International LLC and University of Maryland - Robert H. Smith School of Business
Downloads 81 (362,220)

Abstract:

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G10, G11

6.

The Value of Active Mutual Fund Management: An Examination of the Stockholdings and Trades of Fund Managers

Journal of Financial and Quantitative Analysis
Number of pages: 45 Posted: 07 Jul 2000
Emory University - Department of Finance, University of Illinois at Chicago - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 1,878 (10,228)
Citation 29

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7.
Downloads 1,625 ( 12,873)
Citation 41

Runs on Money Market Mutual Funds

Number of pages: 60 Posted: 14 Mar 2011 Last Revised: 12 Sep 2015
MIT Sloan School of Management, UCSD and University of Maryland - Robert H. Smith School of Business
Downloads 1,229 (19,468)
Citation 43

Abstract:

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Money market mutual funds; bank runs; strategic complementarities

Runs on Money Market Mutual Funds

Number of pages: 44 Posted: 19 Mar 2012
Russ Wermers
University of Maryland - Robert H. Smith School of Business
Downloads 396 (88,692)
Citation 7

Abstract:

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Money market funds, banking

8.
Downloads 1,620 ( 12,909)
Citation 12

Mutual Fund Herding and the Impact on Stock Prices

Number of pages: 49 Posted: 21 Oct 1998
Russ Wermers
University of Maryland - Robert H. Smith School of Business
Downloads 1,620 (12,682)
Citation 12

Abstract:

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Mutual Fund Herding and the Impact on Stock Prices

Posted: 24 Oct 1998
Russ Wermers
University of Maryland - Robert H. Smith School of Business

Abstract:

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Mutual Fund Performance Evaluation with Active Peer Benchmarks

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 54 Posted: 19 Feb 2009 Last Revised: 13 Aug 2013
University of Queensland, Hebrew University of Jerusalem - Department of Economics, Deceased and University of Maryland - Robert H. Smith School of Business
Downloads 1,118 (22,418)
Citation 15

Abstract:

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Endogenous Benchmarks

AFA 2010 Atlanta Meetings Paper
Number of pages: 45 Posted: 21 Mar 2009
University of Queensland, Hebrew University of Jerusalem - Department of Economics, University of Maryland - Robert H. Smith School of Business and Deceased
Downloads 227 (161,101)
Citation 1

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10.

Seasonal Asset Allocation: Evidence from Mutual Fund Flows

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 127 Posted: 17 Nov 2011 Last Revised: 04 Sep 2015
York University - Schulich School of Business, University of Toronto - Rotman School of Management, University of British Columbia (UBC) - Sauder School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 1,286 (18,483)
Citation 23

Abstract:

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household finance, mutual fund flow seasonality, net exchanges, net flows, sentiment, time-varying risk aversion, risk tolerance

Can Mutual Fund 'Stars' Really Pick Stocks? New Evidence from a Bootstrap Analysis

Number of pages: 56 Posted: 28 Nov 2005 Last Revised: 17 Oct 2013
Imperial College Business School, UCSD, University of Maryland - Robert H. Smith School of Business and University of California, San Diego (UCSD) - Department of Economics
Downloads 1,254 (18,899)
Citation 93

Abstract:

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mutual funds, performance evaluation, bootstrap

Can Mutual Fund 'Stars' Really Pick Stocks? New Evidence from a Bootstrap Analysis

Journal of Finance, Vol. 61, No. 6, December 2006
Posted: 19 Dec 2011
Imperial College Business School, UCSD, University of Maryland - Robert H. Smith School of Business and University of California, San Diego (UCSD) - Department of Economics

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mutual funds, performance evaluation, bootstrap

12.

Mutual Fund Performance and Governance Structure: The Role of Portfolio Managers and Boards of Directors

Number of pages: 59 Posted: 30 Jan 2013 Last Revised: 13 Feb 2014
Bill Ding and Russ Wermers
Zhejiang University and University of Maryland - Robert H. Smith School of Business
Downloads 1,184 (20,941)
Citation 18

Abstract:

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governance of asset management institutions, mutual fund boards, portfolio manager disciplinary mechanisms

13.

Herd Behavior in Voluntary Disclosure Decisions: An Examination of Capital Expenditure Forecasts*

AAA 2006 Financial Accounting and Reporting Section (FARS) Meeting Paper
Number of pages: 55 Posted: 17 Jan 2005
University of Illinois at Urbana-Champaign, University of Maryland - Department of Accounting & Information Assurance and University of Maryland - Robert H. Smith School of Business
Downloads 1,085 (23,833)
Citation 8

Abstract:

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herding, disclosure

14.

Analyst Recommendations, Mutual Fund Herding, and Overreaction in Stock Prices

Management Science, Forthcoming, AFA 2010 Atlanta Meetings Paper
Number of pages: 37 Posted: 22 Mar 2009 Last Revised: 23 May 2013
Nerissa C. Brown, Kelsey D. Wei and Russ Wermers
University of Illinois at Urbana-Champaign, University of Texas at Dallas and University of Maryland - Robert H. Smith School of Business
Downloads 994 (27,137)
Citation 42

Abstract:

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analyst revisions, mutual fund herding, managerial myopia

15.

Matter of Style: The Causes and Consequences of Style Drift in Institutional Portfolios

Number of pages: 35 Posted: 19 Mar 2012
Russ Wermers
University of Maryland - Robert H. Smith School of Business
Downloads 986 (27,402)
Citation 28

Abstract:

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Mutual fund performance, style drift

Do Institutional Investors Monitor their Large-Scale vs. Small-Scale Investments Differently? Evidence from the Say-On-Pay Vote

Robert H. Smith School Research Paper No. RHS 2510442, 13th Annual Mid-Atlantic Research Conference in Finance (MARC) Paper, 2018
Number of pages: 52 Posted: 17 Oct 2014 Last Revised: 08 Jun 2020
Miriam Schwartz-Ziv and Russ Wermers
Hebrew University of Jerusalem - Department of Finance and Banking and University of Maryland - Robert H. Smith School of Business
Downloads 766 (38,422)
Citation 1

Abstract:

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shareholder's votes, say-on-pay, financial institutions, small shareholders

Do Institutional Investors Monitor Their Large vs. Small Investments Differently? Evidence from the Say-on-Pay Vote

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 541/2017
Number of pages: 62 Posted: 24 Jan 2018 Last Revised: 26 Jul 2018
Miriam Schwartz-Ziv and Russ Wermers
Hebrew University of Jerusalem - Department of Finance and Banking and University of Maryland - Robert H. Smith School of Business
Downloads 203 (179,223)
Citation 6

Abstract:

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shareholder’s votes, say-on-pay, financial institutions, small shareholders

17.

Active Investing and the Efficiency of Security Markets

The Journal of Investment Management, 2020, Forthcoming
Number of pages: 25 Posted: 09 Apr 2019 Last Revised: 16 Dec 2019
Russ Wermers
University of Maryland - Robert H. Smith School of Business
Downloads 929 (29,864)
Citation 2

Abstract:

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active management, index funds, passive management, market efficiency

18.

Portfolio Performance, Discount Dynamics, and the Turnover of Closed-End Fund Managers

EFA 2006 Zurich Meetings Paper, AFA 2008 New Orleans Meetings Paper
Number of pages: 45 Posted: 23 Mar 2005 Last Revised: 27 Nov 2008
Russ Wermers, Youchang Wu and Josef Zechner
University of Maryland - Robert H. Smith School of Business, University of Oregon - Lundquist College of Business and Vienna University of Economics and Business
Downloads 847 (33,956)
Citation 12

Abstract:

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Closed-end fund, manager turnover, discount

19.

Uncommon Value: The Characteristics and Investment Performance of Contrarian Funds

Number of pages: 51 Posted: 22 Apr 2012
Kelsey D. Wei, Russ Wermers and Tong Yao
University of Texas at Dallas, University of Maryland - Robert H. Smith School of Business and University of Iowa - Henry B. Tippie College of Business
Downloads 650 (48,608)
Citation 12

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20.

Institutional Trading around Corporate News: Evidence from Textual Analysis

Robert H. Smith School Research Paper
Number of pages: 65 Posted: 05 Oct 2013 Last Revised: 05 Dec 2019
Alan Guoming Huang, Hongping Tan and Russ Wermers
University of Waterloo, McGill University and University of Maryland - Robert H. Smith School of Business
Downloads 640 (49,588)
Citation 8

Abstract:

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Institutional trading, Public news, Textual analysis

21.

Do Fund Managers Misestimate Climatic Disaster Risk?

Review of Financial Studies, Forthcoming, Indian School of Business
Number of pages: 64 Posted: 02 Aug 2019 Last Revised: 21 Apr 2020
Shashwat Alok, Nitin Kumar and Russ Wermers
Indian School of Business (ISB), Hyderabad, Indian School of Business (ISB), Hyderabad and University of Maryland - Robert H. Smith School of Business
Downloads 614 (52,388)
Citation 21

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Climate finance, climate risks, mutual funds

22.

The Hedge Fund Industry Is Bigger (and Has Performed Better) Than You Think

OFR WP 20-01
Number of pages: 61 Posted: 27 Feb 2020 Last Revised: 08 Mar 2021
Board of Governors of the Federal Reserve System, Aalto University School of Business, University of Oulu and University of Maryland - Robert H. Smith School of Business
Downloads 599 (54,063)
Citation 1

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hedge funds, net assets, gross assets, strategy, domicile, returns, flows

23.

Performance Evaluation of Active Managers: An Overview of Current Practice

Investments & Wealth Monitor, January/February 2011
Number of pages: 8 Posted: 27 Oct 2010 Last Revised: 22 Nov 2011
Jason C. Hsu, Vitali Kalesnik and Russ Wermers
Rayliant Global Advisors, Research Affiliates Global Advisors and University of Maryland - Robert H. Smith School of Business
Downloads 588 (55,366)

Abstract:

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Performance, Evaluation

24.

Holding Horizon: A New Measure of Active Investment Management

American Finance Association Meetings 2015 Paper, Asian Finance Association (AsianFA) 2018 Conference
Number of pages: 104 Posted: 31 Oct 2014 Last Revised: 15 Dec 2020
Chunhua Lan, Fabio Moneta and Russ Wermers
University of New Brunswick - Fredericton, Telfer School of Management, University of Ottawa and University of Maryland - Robert H. Smith School of Business
Downloads 530 (62,995)
Citation 6

Abstract:

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mutual funds, performance evaluation, investment horizons, selection skills

25.

The Freedom of Information Act and the Race Towards Information Acquisition

Robert H. Smith School Research Paper No. RHS 2517075, Finance Down Under 2015 Building on the Best from the Cellars of Finance Paper
Number of pages: 54 Posted: 01 Nov 2014 Last Revised: 30 Apr 2015
Antonio Gargano, Alberto G. Rossi and Russ Wermers
University of Houston - C.T. Bauer College of Business, Georgetown University and University of Maryland - Robert H. Smith School of Business
Downloads 512 (65,751)
Citation 21

Abstract:

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Institutional Investors, Hedge Funds, Freedom of Information Act

26.

Style Migration and the Cross-Section of Stock Returns

AFA 2011 Denver Meetings Paper, UIC College of Business Administration Research Paper No. 10-05
Number of pages: 56 Posted: 19 May 2010 Last Revised: 02 Jan 2011
Hsiu-Lang Chen and Russ Wermers
University of Illinois at Chicago - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 485 (70,368)

Abstract:

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27.

Do ETFs Increase Liquidity?

Number of pages: 54 Posted: 17 Mar 2018 Last Revised: 25 Sep 2020
Mehmet Saglam, Tugkan Tuzun and Russ Wermers
University of Cincinnati - Department of Finance - Real Estate, Board of Governors of the Federal Reserve System and University of Maryland - Robert H. Smith School of Business
Downloads 450 (77,058)
Citation 1

Abstract:

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ETFs, Liquidity

28.

Share Restrictions and Investor Flows in the Hedge Fund Industry

Number of pages: 49 Posted: 20 Nov 2015 Last Revised: 29 Mar 2019
University of Massachusetts Amherst - Department of Finance, University of California at Irvine, University of Massachusetts at Amherst - Eugene M. Isenberg School of Management - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 409 (86,238)
Citation 12

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hedge fund flows, investor flow restrictions, hedge fund flow-performance relation

Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds

Review of Financial Studies, Forthcoming
Number of pages: 60 Posted: 21 Nov 2012 Last Revised: 04 Jul 2016
Youchang Wu, Russ Wermers and Josef Zechner
University of Oregon - Lundquist College of Business, University of Maryland - Robert H. Smith School of Business and Vienna University of Economics and Business
Downloads 339 (106,075)
Citation 3

Abstract:

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closed-end fund, closed-end fund discount, portfolio manager, managerial rent

Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds

CFS Working Paper, No. 548
Number of pages: 63 Posted: 26 Oct 2016 Last Revised: 11 Jan 2018
Youchang Wu, Russ Wermers and Josef Zechner
University of Oregon - Lundquist College of Business, University of Maryland - Robert H. Smith School of Business and Vienna University of Economics and Business
Downloads 44 (492,576)
Citation 11

Abstract:

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G23, G34

30.

Costly Information Production, Information Intensity, and Mutual Fund Performance

Number of pages: 61 Posted: 03 Mar 2017 Last Revised: 23 Nov 2018
George J. Jiang, Ke Shen, Russ Wermers and Tong Yao
Washington State University, Lehigh University - College of Business, University of Maryland - Robert H. Smith School of Business and University of Iowa - Henry B. Tippie College of Business
Downloads 364 (98,625)
Citation 1

Abstract:

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information intensity; performance persistence

Mutual Fund Return Predictability in Partially Segmented Markets

Number of pages: 77 Posted: 23 Mar 2009 Last Revised: 22 Oct 2011
Board of Governors of the Federal Reserve System, Claremont Colleges, Claremont McKenna College, Robert Day School of Economics and Finance, Students, UCSD and University of Maryland - Robert H. Smith School of Business
Downloads 362 (98,504)
Citation 3

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European equity markets; mutual fund performance; time-varying investment opportunities.

The Cross-Section of Conditional Mutual Fund Performance in European Stock Markets

Journal of Financial Economics (JFE), Forthcoming
Posted: 23 Mar 2011 Last Revised: 05 Sep 2012
Board of Governors of the Federal Reserve System, Claremont Colleges, Claremont McKenna College, Robert Day School of Economics and Finance, Students, UCSD and University of Maryland - Robert H. Smith School of Business

Abstract:

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European equity markets, mutual fund performance, time-varying investment opportunities

32.

Modeling Private Equity: A Machine-Learning Approach

Number of pages: 65 Posted: 06 May 2019 Last Revised: 25 Aug 2020
Barings, Markov Processes International LLC, University Of Hawaii At Manoa, Shidler College of Business and University of Maryland - Robert H. Smith School of Business
Downloads 337 (107,859)

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Private Equity, Buyout Funds, Time-Series, Supervised Machine Learning, Jackknife, Cross-Validation, Factor Modeling, Long Horizons, Overlapping Observations

Investor Information Acquisition and Money Market Fund Risk Rebalancing During the 2011-12 Eurozone Crisis

Robert H. Smith School Research Paper No. RHS 2886171
Number of pages: 78 Posted: 16 Dec 2016 Last Revised: 15 Dec 2019
University of Colorado at Boulder - Department of Finance, MIT Sloan School of Management, UCSD and University of Maryland - Robert H. Smith School of Business
Downloads 275 (132,948)
Citation 14

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Money market funds, Eurozone crisis, financial fragility, endogenous information acqui- sition, transparency in short-term funding markets

Transparency, Investor Information Acquisition, and Money Market Fund Risk Rebalancing During the 2011-12 Eurozone Crisis

CEPR Discussion Paper No. DP11895
Number of pages: 68 Posted: 16 Mar 2017
University of Colorado at Boulder - Department of Finance, MIT Sloan School of Management, UCSD and University of Maryland - Robert H. Smith School of Business
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endogenous information acquisition, eurozone crisis, financial fragility, Money market funds, transparency in short-term funding markets

34.

Reassessing False Discoveries in Mutual Fund Performance: Skill, Luck, or Lack of Power? A Reply

Journal of Finance, Forthcoming, Swiss Finance Institute Research Paper No. 19-61
Number of pages: 37 Posted: 21 Aug 2019 Last Revised: 25 Mar 2020
Laurent Barras, O. Scaillet and Russ Wermers
McGill University - Desautels Faculty of Management, University of Geneva GSEM and GFRI and University of Maryland - Robert H. Smith School of Business
Downloads 247 (148,930)
Citation 3

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False Discovery Rate, Multiple Testing, Mutual Fund Performance

35.

Network Centrality and Delegated Investment Performance

Netspar Discussion Paper No. 12/2015-065
Number of pages: 55 Posted: 07 Mar 2016 Last Revised: 02 Oct 2016
Georgetown University, City, University of London, UCSD, University of Bristol and University of Maryland - Robert H. Smith School of Business
Downloads 228 (160,855)
Citation 17

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Networks, Investment Management, Performance

36.

Cash-Flow Timing vs. Discount-Rate Timing: An Examination of Mutual Fund Market-Timing Skills

Finance Down Under 2016 Building on the Best from the Cellars of Finance , American Finance Association Meetings, 2017 Chicago
Number of pages: 89 Posted: 01 Oct 2015 Last Revised: 28 Oct 2019
Chunhua Lan and Russ Wermers
University of New Brunswick - Fredericton and University of Maryland - Robert H. Smith School of Business
Downloads 213 (171,553)
Citation 1

Abstract:

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Cash-flow timing, discount-rate timing, market timing

37.

News or Noise: Mobile Internet Technology and Stock Market Activity

Number of pages: 47 Posted: 15 May 2020 Last Revised: 03 Dec 2020
University of Illinois at Urbana-Champaign, University of Illinois at Urbana-Champaign, University of Maryland - Robert H. Smith School of Business and Arizona State University (ASU) - School of Accountancy
Downloads 164 (216,524)
Citation 3

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mobile technology, investor activity, stock market liquidity, limited attention, distraction

38.

Who Listens to Corporate Conference Calls? The Effect of 'Soft Information' on Institutional Trading

Number of pages: 55 Posted: 19 Nov 2020
Alan Guoming Huang and Russ Wermers
University of Waterloo and University of Maryland - Robert H. Smith School of Business
Downloads 133 (256,900)

Abstract:

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conference calls; institutional holdings; sentiment analysis

39.

International Characteristic-Based Asset Pricing

Number of pages: 58 Posted: 28 Dec 2018 Last Revised: 14 Feb 2021
Murali Jagannathan, Wei Jiao and Russ Wermers
SUNY at Binghamton - School of Management, Rutgers School of Business-Camden, Rutgers University and University of Maryland - Robert H. Smith School of Business
Downloads 103 (308,604)

Abstract:

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International asset pricing, Characteristic-based asset-pricing models, International mutual funds

40.

Language and Domain Specificity: A Chinese Financial Sentiment Dictionary

Number of pages: 60 Posted: 04 Mar 2021
Shanghai Jiao Tong University (SJTU), Antai College of Economics and Management, Students, University of Waterloo, University of Maryland - Robert H. Smith School of Business and Shanghai Jiao Tong University - Antai College of Economics & Management
Downloads 43 (487,574)

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Decentralized Investment Management: Evidence from the Pension Fund Industry

CEPR Discussion Paper No. DP7679
Number of pages: 57 Posted: 10 Feb 2010
City, University of London, UCSD, University of Bristol and University of Maryland - Robert H. Smith School of Business
Downloads 15 (672,605)
Citation 3
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asset management, decentralized management, pension funds, principal agent problems

Decentralized Investment Management: Evidence from the Pension Fund Industry

Number of pages: 56 Posted: 22 Jun 2020
City, University of London, Georgetown University, UCSD, University of Bristol and University of Maryland - Robert H. Smith School of Business
Downloads 12 (696,727)
Citation 4

Abstract:

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42.

Runs on Money Market Funds

CEPR Discussion Paper No. DP9906
Number of pages: 63 Posted: 02 Jun 2014
MIT Sloan School of Management, UCSD and University of Maryland - Robert H. Smith School of Business
Downloads 3 (739,937)
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bank runs, money market mutual funds, quantile regression, strategic complementarities

43.

Picking Funds with Confidence

CEPR Discussion Paper No. DP11896
Number of pages: 61 Posted: 16 Mar 2017
School of Economics and Business Economics, Aarhus University, Aarhus University - School of Business and Social Sciences, UCSD and University of Maryland - Robert H. Smith School of Business
Downloads 2 (749,985)
Citation 2
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equity mutual funds, Fund confidence set, risk-adjusted performance

44.

Investor Flows to Asset Managers: Causes and Consequences

Annual Review of Financial Economics, Vol. 6, pp. 289-310, 2014
Posted: 25 Nov 2014
University of Toronto - Rotman School of Management, University of Pennsylvania - Finance Department and University of Maryland - Robert H. Smith School of Business

Abstract:

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45.

Active Management in Mostly Efficient Markets

Financial Analysts Journal, Vol. 67, No. 6, 2011
Posted: 23 Nov 2011
Russ Wermers and Robert W. Jones
University of Maryland - Robert H. Smith School of Business and affiliation not provided to SSRN

Abstract:

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Portfolio Management, Equity Portfolio Management Strategies, Active Management, Fixed-Income Portfolio Management Strategies, Active Management, Portfolio Concepts from Capital Market Theory, Efficient Market Hypothesis, Risk Management

Performance Measurement of Mutual Funds, Hedge Funds, and Institutional Accounts

Annual Review of Financial Economics, Forthcoming
Posted: 20 Oct 2011
Russ Wermers
University of Maryland - Robert H. Smith School of Business

Abstract:

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mutual funds, hedge funds, institutional investors, pension funds, performance evaluation

Performance Measurement of Mutual Funds, Hedge Funds, and Institutional Accounts

Annual Review of Financial Economics, Vol. 3, pp. 537-574, 2011
Posted: 10 Jan 2012
Russ Wermers
University of Maryland - Robert H. Smith School of Business

Abstract:

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47.

Active Management in Mostly Efficient Markets

Financial Analysts Journal, Forthcoming
Posted: 20 Oct 2011
Robert Jones and Russ Wermers
Arwen Advisors and University of Maryland - Robert H. Smith School of Business

Abstract:

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mutual funds, active management, performance evaluation

48.

Mutual Fund Performance: An Empirical Decomposition into Stock-Picking Talent, Style, Transactions Costs, and Expenses

Posted: 03 Jul 2000
Russ Wermers
University of Maryland - Robert H. Smith School of Business

Abstract:

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49.

Momentum Investment Strategies, Portfolio Performance, and Herding: A Study of Mutual Fund Behavior

Posted: 07 Sep 1999
Mark Grinblatt, Sheridan Titman and Russ Wermers
University of California, Los Angeles (UCLA) - Finance Area, University of Texas at Austin - Department of Finance and University of Maryland - Robert H. Smith School of Business

Abstract:

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50.

Herding, Trade Reversals, and Cascading by Institutional Investors

Posted: 20 Dec 1998
Russ Wermers
University of Maryland - Robert H. Smith School of Business

Abstract:

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