Does It All Add Up? Benchmarks and the Compensation of Active Portfolio Managers
- 1 July 1997
- journal article
- Published by University of Chicago Press in The Journal of Business
- Vol. 70 (3) , 323-350
- https://doi.org/10.1086/209721
Abstract
In this article we examine theoretically the use of benchmark portfolios in the compensation of privately informed portfolio managers. We find that the use of a...Keywords
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