知识共享与投资绩效——来自封闭式基金的实证研究

Knowledge Sharing and Investment Performance ——Empirical Study form Closed-End Fund

许多文献的研究结果表明基金经理的分析能力有助于提高其投资绩效,却忽视了基金管理公司组织结构和知识共享对基金绩效的影响。从组织学习的视角看,基金管理公司内部的组织结构有助于形成交互学习和知识共享的机制。实证研究结果表明这种知识共享有助于提升基金的投资绩效。当然,知识共享也存在着风险因素,但研究结果表明收益与风险相匹配的原则仍然适用。

Research results of many documents mean that the analytical ability of fund managers can improve the performance of fund.However,the influence that organization structure of fund management company and knowledge sharing may exert is usually ingnored.Form the views of organization learning,the internal organization structure is conducive to the mechanism of learn across managers and knowledge.And the results of empirical study show the knowledge sharing can improve the investment performance of fund.Certainly,there exist some risk factors in the knowledge sharing,but the results show the rule of return match with risk is suitable for use.