[1]牛华伟a,徐 飞a,潘婧炀b.私募基金经理个体特征对基金业绩影响实证研究[J].金融教育研究,2018,(03):23-30.
 NIU Huaweia,XU Feia,PAN Jingyangb.An Empirical Study on the Impact of Private Fund Managers' Personal Characteristics on Fund Performance[J].,2018,(03):23-30.
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私募基金经理个体特征对基金业绩影响实证研究()
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《金融教育研究》[ISSN:1006-6977/CN:61-1281/TN]

卷:
期数:
2018年03期
页码:
23-30
栏目:
金融理论探讨
出版日期:
2018-06-20

文章信息/Info

Title:
An Empirical Study on the Impact of Private Fund Managers' Personal Characteristics on Fund Performance
文章编号:
2095-0098(2018)03-0023-08
作者:
牛华伟a 徐 飞a 潘婧炀b
南京审计大学 a.金融学院; b.商学院,江苏 南京 211815
Author(s):
NIU Huaweia XU Feia PAN Jingyangb
a.School of Finance; b.Business School,Nanjing Audit University,Nanjing,Jiangsu 211815,China
关键词:
私募基金 个体特征 基金业绩
Keywords:
private fund personal characteristics fund performance
分类号:
F830
文献标志码:
A
摘要:
私募基金经理个体特征与基金业绩之间存在关联,却鲜有研究深入探讨其二者的关系。本文从私募基金经理从业年限、学历、管理基金数量及职业背景四个维度衡量基金经理的个体特征,以风险调整后的基金夏普指数衡量基金业绩,分析了基金经理个体特征对基金业绩的具体影响关系。实证研究表明:基金经理的从业年限与基金的夏普指数显著正相关; 本科及以下学历的基金经理反而比硕士及以上学历的基金经理所管理的基金收益更好; 相较于非券商背景的基金经理,具有券商背景的基金经理取得的业绩更好,并且职业背景对基金业绩的影响大于学历对基金业绩的影响。此外,私募基金经理管理的基金数量与基金收益无显著关系。
Abstract:
There is a correlation between private fund managers' personal characteristics and fund performance,but few studies deeply discuss the relationship between them.This paper measures the personal characteristics of fund managers based on the four dimensions.The four dimensions are working years,degree,the number of funds managed,and the occupational background.By using the risk-adjusted fund's Sharpe index to measure the fund performance; this article analyzes the specific impact of individual characteristics of fund managers on fund performance.The empirical results are as follows:the working years of fund manager is significantly positively correlated with the fund's Sharpe index; fund managers with bachelor degree or below have better fund returns than fund managers with master degree or above; compared with non-buyers background fund managers,fund managers with brokerage background get better fund performance,and the professional background has greater impact on fund performance than education's impact on fund performance; in addition,there is no significant relationship between the number of funds managed by private fund managers and fund returns.

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备注/Memo

备注/Memo:
收稿日期:2018-04-12
基金项目:国家自然科学基金青年科学基金项目(71501099); 江苏省自然科学基金青年项目(BK2050725); 江苏省重点序列学科(应用经济学)专项经费(苏政办发[2014]37号)
作者简介:牛华伟(1980-),男,江苏徐州人,博士,副教授,硕导,研究方向为金融工程与公司金融;
徐 飞(1994-),男,江苏连云港人,硕士研究生;
潘婧炀(1995-),女,吉林延吉人,硕士研究生。
更新日期/Last Update: 2018-06-20