两次世界大战期间的基金管理:20世纪20年代的英国投资信托组合资产配置

IF 1.2 1区历史学 Q3 ECONOMICS

European Review of Economic History Pub Date : 2023-01-12 DOI:10.1093/ereh/heac019

Dimitris P Sotiropoulos, Janette Rutterford, Daniele Tori, Antonis Kyparissis

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引用次数: 0

摘要

摘要本研究使用手工收集的41家公司的数据集，研究了1914年至1928年间英国投资信托公司的投资组合资产配置，其中包括40,875个投资组合。英国投资信托公司不仅在第一次世界大战中安然无恙，而且在20世纪20年代表现出色，引发了一波新的公司合并浪潮。20世纪20年代是投资信托投资组合结构发生重大变化的时期，我们的分析考察了造成这种变化的主要原因。我们表明，投资信托经理能够迅速适应新的社会经济环境，并确保其股东的高盈利能力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Fund management in the interwar period: UK investment trust portfolio asset allocation in the 1920s

Abstract This study investigates the portfolio asset allocation of UK investment trusts between 1914 and 1928 using a unique hand-collected dataset of 41 companies, which comprises 40,875 portfolio holdings. UK investment trusts not only survived WWI without major losses but also had a remarkable performance in the 1920s, which led to a wave of new incorporations. The 1920s was a period of significant shifts in investment trust portfolio composition and our analysis examines the main reasons for this. We show that investment trust managers were able to adjust quickly to the new socioeconomic circumstances and secure high profitability for their shareholders.

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来源期刊

European Review of Economic History Multiple-

CiteScore

2.60

自引率

7.10%

发文量

期刊介绍： European Review of Economic History has established itself as a major outlet for high-quality research in economic history, which is accessible to readers from a variety of different backgrounds. The Review publishes articles on a wide range of topics in European, comparative and world economic history. Contributions shed new light on existing debates, raise new or previously neglected topics and provide fresh perspectives from comparative research. The Review includes full-length articles, shorter articles, notes and comments, debates, survey articles, and review articles. It also publishes notes and announcements from the European Historical Economics Society.