Does It All Add Up? Benchmarks and the Compensation of Active Portfolio Managers
Anat R. Admati, Paul Pfleiderer
Abstract
Anat R. Admati, Paul Pfleiderer
Abstract
I. Introduction In this article we exam-ine theoretically the Suppose a portfolio manager investing in Japa- use of benchmark port-folios in the compensa-nese stocks realizes a return of 27%. How well tion of privately in-has she performed? A good answer to this ques-
OpenAlex reports 339 citations for this work. Citation counts describe recorded attention and do not establish research quality.
A contribution statement is not available in the OpenAlex record.
Method details are not available in the OpenAlex metadata.
Findings are not separately available in the OpenAlex metadata.
Limitations are not available in the OpenAlex metadata.
Application details are not available in the OpenAlex metadata.
I. Introduction In this article we exam-ine theoretically the Suppose a portfolio manager investing in Japa- use of benchmark port-folios in the compensa-nese stocks realizes a return of 27%. How well tion of privately in-has she performed? A good answer to this ques-
Key concepts: Business, Compensation (psychology), Portfolio, Process management, Accounting, Knowledge management, Computer science, Finance