Empirical analysis of mutual funds has focused on the relationship between funds and fund investors, and little is known about the nature of compensation contracts between firms and managers. This column uses Swedish data to provide novel insights on the relationship between mutual fund firms and manager compensation. In contrast to how investors compensate the fund company, a concave relationship is observed between pay and revenue. The sensitivity of pay to performance is surprisingly weak, with firm-level characteristics playing an important role in dynamic compensation.
Markus Ibert, Ron Kaniel, Stijn Van Nieuwerburgh, Roine Vestman, 08 September 2017
Related
-
Noboru Kawahama
Most Read
-
Hötte, Somers, Theodorakopoulos
-
Doepke, Hannusch, Kindermann, Tertilt
-
Harrison
-
Hartmann, Leonello, Manganelli, Papoutsi, Schnabel, Sigaux
-
Attinasi, Gerinovics, Gunnella, Mancini, Metelli
-
Burgess, Sievertsen
-
Eichengreen, O'Rourke
-
Mitze, Kosfeld, Rode, Wälde
-
Heldring, Robinson
-
Allen
Blogs&Reviews
-
Carraro, Cœuré, Dhand, Eichengreen, Mills, Rey, Sapir, Schwarzer
-
Evenett
-
Fullerton, Levinson
-
Hoffmann, Moench, Pavlova, Schultefrankenfeld
-
Reichlin, Adam, McKibbin, McMahon, Reis, Ricco, Weder di Mauro
Events
-
7 July - 1 December 2022 / Zoom webinar /
-
11 - 11 July 2022 / online / SUERF - The European Money and Finance Forum BAFFI CAREFIN Bocconi University
-
11 - 13 July 2022 / / National Council of Applied Economic Researach (NCAER)
-
13 - 13 July 2022 / / CEPR and WIPO
-
8 - 19 August 2022 / Online / Harvard Kennedy School Executive Education
CEPR Policy Research
-
Gobillon, Solignac
-
Giglio, Maggiori, Stroebel, Weber
-
Summers, Fatás
-
Favero, Galasso
-
Butt, Churm, McMahon, Morotz, Schanz
-
Eichengreen, Avgouleas, Poiares Maduro, Panizza, Portes, Weder di Mauro, Wyplosz, Zettelmeyer
-
Baldwin, Beck, Bénassy-Quéré, Blanchard, Corsetti, De Grauwe, den Haan, Giavazzi, Gros, Kalemli-Ozcan, Micossi, Papaioannou, Pesenti, Pissarides , Tabellini, Weder di Mauro
-
Baldwin, Nakatomi
-
Thimann
-
Goodhart, Perotti