How Does Human Capital Affect Investing? Evidence from University Endowments
نویسندگان
چکیده
Abstract We examine the links between human capital and endowment investing. Harnessing detailed information on university endowments, we find that higher asset allocations to alternative assets accompany levels of in endowment’s investment process. Moreover, high are linked larger returns, even a risk-adjusted basis. The improved outcomes arise because endowments (i) capture returns can assets, (ii) select or have access performing managers, (iii) minimize fees by accessing funds directly rather than through funds. Our measures include expertise alternatives governing bodies, presence chief officer, size staff. Finally, conduct novel survey confirm is central facilitating investments.
منابع مشابه
How Does Social Capital Affect Retweets?
In Twitter, a retweet happens when a user copies another user's tweet, making it clear that the content is someone else's, and is a common way to share information. This paper explores user’s perceptions of the way social capital influences retweet practices. We discuss how Twitter users perceive values and how they create benefits for the social network and themselves from three points of view...
متن کاملHow does Political Violence Affect Currency Substitution? Evidence from Egypt
In this paper we estimate a time-series model of the financial asset portfolio shares in Egypt, distinguishing between assets of varying degrees of liquidity and between domestic currency and foreign currency deposits. While financial liberalization and financial stability are found to have encouraged domestic residents to increase the share of their portfolio composed of domestic currency asse...
متن کاملHow Does Communal HIV/AIDS Affect Fertility? Evidence from Malawi
Recently there has been a surge in interest on how HIV/AIDS affects fertility in countries hit by the disease. In this study, the effect of communal HIV/AIDS on fertility in rural Malawi is estimated using individual data from the 2004 Malawi Demographic and Health Survey on fertility and the ideal number of children. The survey includes individual HIV status, making it possible to distinguish ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Finance
سال: 2022
ISSN: ['1875-824X', '1572-3097']
DOI: https://doi.org/10.1093/rof/rfac017