经理人特征与基金业绩关系分析——基于中国股票型基金的一项实证研究

Managers' Characteristics and Fund Performance——An Empirical Research Based on China Stock Fund

实证检验了微观层面基金经理特征与基金公司经营层面管理策略对基金人业绩的影响。研究结果表明,基金经理个人特征的大多数变量与基金业绩之间不存在显著相关关系。而任期前是否明星基金则与基金业绩之间有着显著正相关。研究结果为理解基金业绩的主要影响因素提供了参考,也有利于投资者对证券基金的选择。

This paper empirically tests the influence of the characteristics of fund managers from the micro level and management strategy from fund company operating level on fund performance. The research results show that, there is no significant correlation between most of the variables of fund manager personal characteristics and fund performance. While there is a significant positive correlation between whether the fund is star fund before the manager＇s tenure and fund performance. The results provide a reference for understanding the main influence factors of fund performance,but also conducive to investors on the choice of securities investment fund.