دانلود مقاله ISI انگلیسی شماره 104786
ترجمه فارسی عنوان مقاله

صندوق وجوه صندوق سیاست و اوراق بهادار

عنوان انگلیسی
Hedge fund politics and portfolios
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
104786 2017 18 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Banking & Finance, Volume 75, February 2017, Pages 80-97

پیش نمایش مقاله
پیش نمایش مقاله  صندوق وجوه صندوق سیاست و اوراق بهادار

چکیده انگلیسی

Consistent with the well-documented relation between political orientation and psychological traits, hedge funds’ political orientations are related to their portfolio decisions. Relative to politically conservative hedge funds, politically liberal hedge funds exhibit a preference for smaller stocks, less mature companies, volatile stocks, unprofitable companies, non-dividend paying companies, and lottery-type securities. Politically liberal hedge funds are also more likely to enter new positions or fully exit existing positions, and make larger adjustments to their U.S. equity market exposure. Our results suggest that psychological characteristics can influence the portfolio decisions of even those at the very top of the financial sophistication ladder.