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X-WR-CALNAME:Facultad de Economía y Negocios
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X-WR-CALDESC:Eventos para Facultad de Economía y Negocios
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DTSTART:20210404T030000
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DTSTART;TZID=America/Santiago:20210906T150000
DTEND;TZID=America/Santiago:20210906T163000
DTSTAMP:20260404T043624
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UID:22987-1630940400-1630945800@fen.uahurtado.cl
SUMMARY:Seminarios Académicos de Economía | Invitado:  Hervé Roche
DESCRIPTION:La Facultad de Economía y Negocios de la UAH tiene el agrado de invitarte al 14º seminario del ciclo de Seminarios Académicos de Economía 2021. \n\n\n\n\n\n\n\n\nEn esta ocasión Hervé Roche\, profesor asociado de la Escuela de Negocios de la Universidad Adolfo Ibáñez\, presentará su trabajo «Strategic Asset Allocation under Peer Group Benchmarks» escrito en conjunto con Nicolas Sahuguet\, HEC Montreal. \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAbstract \nIn the managed fund industry\, compensation is linked to relative performance. As a consequence\, behavior takes the form of a tournament. We analyze a contest between two risk averse fund managers who allocate funds between a risk-free bond and a risky stock. The manager with the higher return wins the contest and his compensation is proportional to the difference of returns between the funds. We analyze the Nash equilibria of the game. We show that there exists an equilibrium in pure strategies in which managers coordinate in using opposite extreme investment strategies. We then derive a symmetric full-support mixed strategy equilibrium. We then investigate the impact of the competitiveness of the benchmark on investment strategies. \n\n\n\n\n\n\n\n\nLunes 6 de septiembre\, 15:00 hrs. \n*El seminario se realizará a través de Zoom \nPara ingresar haz click aquí
URL:https://fen.uahurtado.cl/calendario/seminarios-academicos-de-economia-invitado-herve-roche/
CATEGORIES:Eventos Economía
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