| Record ID | harvard_bibliographic_metadata/ab.bib.11.20150123.full.mrc:370127852:1654 |
| Source | harvard_bibliographic_metadata |
| Download Link | /show-records/harvard_bibliographic_metadata/ab.bib.11.20150123.full.mrc:370127852:1654?format=raw |
LEADER: 01654nam a2200241 a 4500
001 011421933-8
005 20080402114541.0
008 070201s2008 maua b 000 0 eng d
035 0 $aocn219450254
100 1 $aCohen, Lauren.
245 14 $aThe small world of investing :$bboard connections and mutual fund returns /$cLauren H. Cohen, Andrea Frazzini, Christopher Malloy.
260 $a[Boston] :$bHarvard Business School,$cc2008.
300 $a48 p. :$bill. ;$c28 cm.
490 1 $aWorking paper / Harvard Business School ;$v08-055
500 $a"January 2008"--Publisher's web site.
504 $aIncludes bibliographical references.
520 $aThis paper uses social networks to identify information transfer in security markets. We focus on connections between mutual fund managers and corporate board members via shared education networks. We find that portfolio managers place larger bets on firms they are connected to through their network, and perform significantly better on these holdings relative to their non-connected holdings. A replicating portfolio of connected stocks outperforms a replicating portfolio of non-connected stocks by up to 8.4% per year. Returns are concentrated around corporate news announcements, consistent with mutual fund managers gaining an informational advantage through the education networks. Our results suggest that social networks may be an important mechanism for information flow into asset prices.
700 1 $aFrazzini, Andrea.
700 1 $aMalloy, Christopher J.
710 2 $aHarvard Business School.
830 0 $aWorking paper (Harvard Business School) ;$v08-055.
988 $a20080331
906 $0MH