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Final published version
Licence: CC BY: Creative Commons Attribution 4.0 International License
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Managerial behavior in fund tournaments—the impact of TrueSkill
AU - Swade, Alexander
AU - Köchling, Gerrit
AU - Posch, Peter
PY - 2021/1/9
Y1 - 2021/1/9
N2 - Measuring mutual fund managers’ skills by Microsoft’s TrueSkill algorithm, we find highly skilled managers to behave self-confident resulting in higher risk-taking in the second half of the year compared to less skilled managers. Introducing the TrueSkill algorithm, which is widely used in the e-sports community, to this branch of literature, we can replicate previous findings and theories suggesting overconfidence for mid-years winners.
AB - Measuring mutual fund managers’ skills by Microsoft’s TrueSkill algorithm, we find highly skilled managers to behave self-confident resulting in higher risk-taking in the second half of the year compared to less skilled managers. Introducing the TrueSkill algorithm, which is widely used in the e-sports community, to this branch of literature, we can replicate previous findings and theories suggesting overconfidence for mid-years winners.
KW - Fund Tournament
KW - Skill
KW - Risk-shifting
KW - TrueSkill
KW - Bayesian Network
U2 - 10.1057/s41260-020-00198-7
DO - 10.1057/s41260-020-00198-7
M3 - Journal article
VL - 22
SP - 62
EP - 75
JO - Journal of Asset Management
JF - Journal of Asset Management
SN - 1470-8272
IS - 1
ER -