The analysis of replacement and re-employment of mutual fund managers:an event history analysis

• Main Author: 潘承業
• Other Authors: 柯伯昇
• Format: Others
• Language: zh-TW
• Published: 2003
• Online Access: http://ndltd.ncl.edu.tw/handle/91537676931918063586

碩士 === 義守大學 === 管理科學研究所 === 91 === By increasing in GDP, the concept of investing becomes popular. In most investing tools, the Mutual Fund has always been adopted. Seeing the common situation of high liquidity and re-employment of mutual fund managers, the thesis tries to analyze about whether the replacement and re-employment of mutual fund managers would be affected by variables of mutual fund managers or variables of mutual fund. The variables of mutual fund managers contain five items that are gender, educational background, experience of managing mutual fund, number of seasons of managing mutual fund and the interaction of gender and number of seasons of managing mutual fund. The variables of mutual fund contain type of mutual fund, size of mutual fund, the return rate of the mutual fund, and the numbers of change of mutual fund managers in the recent 2 years. We use the Event History Method (EHA) as the research method. When we concern about the special topics such as Censoring, Ties and Discrete Time, the EHA performs better ability than traditional regression method. Research shows the replacement and re-employment models perform well by testing the goodness of fit, accuracy of model prediction and the explainable degree of independent variables. In the replacement regression model, variables such as educational background, number of seasons of managing mutual fund, the interaction of gender and number of seasons of managing mutual fund, size of mutual fund and the numbers of change of mutual fund managers in the recent 2 years perform significant relations between independent variable and dependent variable. In the re-employment model, experience of managing mutual fund, number of seasons of managing mutual fund and the numbers of change of mutual fund managers in the recent 2 years are significant. The rest of the variables are not significant in the models.