{"id":2696,"date":"2017-09-27T09:43:48","date_gmt":"2017-09-27T00:43:48","guid":{"rendered":"https:\/\/www.waseda.jp\/inst\/sgu\/?p=2696"},"modified":"2017-09-27T09:43:48","modified_gmt":"2017-09-27T00:43:48","slug":"research-seminarlazy-investors-lazy-fund-managers-lousy-performance-national-culture-and-mutual-fund-management","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/inst\/sgu\/news-en\/2017\/09\/27\/2696\/","title":{"rendered":"Research Seminar:\u201cLazy Investors, Lazy Fund Managers, Lousy Performance: National Culture and Mutual Fund Management.\u201d"},"content":{"rendered":"<p>On July 31, 2017, <a href=\"https:\/\/www.waseda.jp\/eape\/en\/index.php\">TGU Center for Positive\/Empirical Analyses of Political Economy at Waseda University<\/a> hosted a research seminar by <a href=\"https:\/\/www.cass.city.ac.uk\/faculties-and-research\/experts\/aneel-keswani\">Dr. Aneel Keswani<\/a>, Reader in Finance at Cass Business School (City, University of London), titled \u201cLazy Investors, Lazy Fund Managers, Lousy Performance: National Culture and Mutual Fund Management.\u201d The seminar was co-sponsored by <a href=\"https:\/\/www.waseda.jp\/inst\/wias\/en\/\">Waseda Institute for Advanced Study<\/a> (WIAS) and Professor <a href=\"http:\/\/www.waseda.jp\/sem-miyajima\/pg163.html\">Hideaki Miyajima<\/a> of the Faculty of Commerce chaired the seminar.<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-2691\" src=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01937-610x458.jpg\" alt=\"DSC01937\" width=\"610\" height=\"458\" srcset=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01937-610x458.jpg 610w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01937-360x270.jpg 360w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01937-768x576.jpg 768w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01937-940x705.jpg 940w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01937-720x540.jpg 720w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-2692\" src=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01965-360x270.jpg\" alt=\"DSC01965\" width=\"360\" height=\"270\" srcset=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01965-360x270.jpg 360w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01965-610x458.jpg 610w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01965-768x576.jpg 768w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01965-940x705.jpg 940w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC01965-720x540.jpg 720w\" sizes=\"auto, (max-width: 360px) 100vw, 360px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>In the seminar, Dr. Keswani presented his joint research with Dr. Miguel of ISCTE Business School and Dr. Ramos of ESSEC Business School. Their analysis of international fund data showed that culture can explain differences in how sensitive fund flows are to past fund performance and fund fees.\u00a0 Recently, many researchers analyzed the effect of national culture on the behavior of corporations or investors. This research by Dr. Keswani additionally contributes to the existing research by showing that the fund flows are also impacted by the national culture.<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-2693\" src=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02007-360x270.jpg\" alt=\"DSC02007\" width=\"360\" height=\"270\" srcset=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02007-360x270.jpg 360w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02007-610x458.jpg 610w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02007-768x576.jpg 768w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02007-940x705.jpg 940w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02007-720x540.jpg 720w\" sizes=\"auto, (max-width: 360px) 100vw, 360px\" \/><\/p>\n<p>During the seminar, Waseda faculty members posed questions and comments, and the students listened to the lively exchanges between them.<\/p>\n<p>In addition, Dr. Keswani taught a summer intensive course at MSc in Finance Program of Waseda Business School (Graduate School of Business and Finance) from August 4 to 9. The course titled \u201cAsset Management\u201d enrolled students from both MSc Program and MBA Program, where Dr. Keswani combined lectures and case discussions. A student who attended the course appreciated his course very much, saying that the experienced lecturer from the U.K. hosted lively and inspiring lectures and discussions.<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-2695\" src=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02038-1-610x288.jpg\" alt=\"DSC02038-1\" width=\"610\" height=\"288\" srcset=\"https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02038-1-610x288.jpg 610w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02038-1-768x363.jpg 768w, https:\/\/www.waseda.jp\/inst\/sgu\/assets\/uploads\/2017\/09\/DSC02038-1-940x444.jpg 940w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 31, 2017, TGU Center for Positive\/Empirical Analyses of Political Economy at Waseda University hosted  [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[99,111],"class_list":["post-2696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-en-eape","tag-report-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/2696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/comments?post=2696"}],"version-history":[{"count":0,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/2696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/media\/2688"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/media?parent=2696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/categories?post=2696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/tags?post=2696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}