Date of Award
Spring 5-2019
Document Type
Honors Thesis
Degree Name
Bachelor of Science
Department
Business
Advisor/Committee Chair
Ying Wang, Ph.D.
Abstract
This paper analyzes the relationship between manager tenure and performance in corporate bond mutual funds, using a sample from Morningstar of 665 funds from 2002-2017. Based on a univariate portfolio analysis and panel regressions, the results show a significant positive relationship between average manager tenure and corporate bond performance generally, regardless of whether performance is measured by raw monthly returns or Fama and French’s (1993) five-factor alpha. However, in the crisis periods, this paper documents a significant negative relationship between average manager tenure and fund performance.
Recommended Citation
Mottes, Matthew, "The Relationship Between Manager Tenure and Corporate Bond Mutual Fund Performance" (2019). Financial Analyst. 13.
https://scholarsarchive.library.albany.edu/honorscollege_finance/13