Analysis on relationships between funds manager's behavior and funds performance
PU Yong-jian · Journal of systems engineering · 2006
During researching security investment funds appraisal system,the relationships of funds managers' behaviors and funds performance perhaps will be omitted by the study topic.based on the behaviors finance theory,a linear relation model of funds managers' behavior and funds performance is set up on basis of principal-agent in the paper.The model points out the managers' optimization decision behavior,and points out the numeral methods of determing the relationships between managers' optimization efforts,optimization capability and funds performance.It brings definite theory basis to the funds investor for choosing manager and brings definite theory guidance to the risk preference of manager,economic environment expectation and economic environment risk expectation which estimates the funds expecting performance variation.