Search   Date Range  
  in   All Years to:
Published Articles for Year 2022
Multinational Finance Journal, 2022, vol. 26, no. 3/4, pp. 27-59
Scott Brown , University of Puerto Rico    Corresponding Author
William T Ziemba , The University of British Columbia

Lotto tickets normally have negative expected value that sometimes turn positive with carryover or promotions. The purchase of lotto tickets by professional bettors has been shown to be rational economic behavior during these periods. The typical player is known to play continually and is subject to a regressive tax when a professional bettor wins the jackpot. We perform an out-of-sample experiment that provides countervailing evidence of an economically significant silver lining for the typical player from easier-to-win small prizes making lotto one type of investment for this demographic. In this light lotto participation by the typical player is, if not rational, less irrational in terms of prospect, strain, networking, and consumption theories. Finally, we show linkage between jackpot size and economic boom and bust in Puerto Rico

Keywords : Lotto; Prospect Theory; Portfolio Theory; Strain Theory; Networking Theory; Consumption Theory.
View in Bib TeX Format      View Cite Format 1      View Cite Format 2      
Multinational Finance Journal, 2022, vol. 26, no. 1/2, pp. 1-26
Iordanis Karagiannidis , The Citadel    Corresponding Author
G. Geoffrey Booth , The Citadel and Michigan State University

Mutual funds are either run by a single manager or by a management team. Which management design is better has long been a topic of interest. In the early 2000s, the proportion of team-managed funds rose, but in 2007 it leveled off. Using the constant term from Carhart’s 4-factor model as a measure of management performance and data from Morningstar Inc., this paper adds to the discussion by incorporating another important dimension to this question, i.e., whether the fund changed its management company at the same time. The results indicate, among other things, that single-managed funds that changed management companies, on average, performed better than those that did not change. They also suggest that single-managed funds outperform team-managed funds

Keywords : equity funds; performance; management; portfolio; event study
View in Bib TeX Format      View Cite Format 1      View Cite Format 2      

Copyright © 2010. All rights reserved. Multinational Finace Society. Design and Development by: Exarsis Business Solutions Ltd.

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.