一、主题：Managers’ Former Working Experience and Mutual Fund Performance

二、主讲人：高震男，中央财经大学皇冠足球比分2012级金融学专业本科生，现已保送北京大学经济学院硕博

三、时间：2015年11月18日（周三）14:00-15:00

四、地点：中央财经大学沙河校区丁香园1号楼301会议室

五、点评人：陈锐，中央财经大学皇冠足球比分金融工程系讲师

文章摘要：

The paper examines mutual fund managers’ market-timing and stock-picking abilities. In particular, I study the relationship between abilities and manager’s previous working experience like industry analyst or policy analyst. Using Chinese mutual fund data over the 2002-2014 period, I find managers with industry analyst experience present 0.17%-0.27% (in different models) per month (2.04%-3.24% per year) higher alpha than the other. The policy analyst group present 4.72-10.40 (in different models) per month higher coefficient of market-timing measure than the other.