Browsing by Author "Guettler, Andre"
Now showing items 1-4 of 4
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Financial incentives and loan officer behavior: multitasking and allocation of effort under an incomplete contract
2015We investigate the implications of providing loan officers with a compensation structure that rewards loan volume and penalizes poor performance. Using a unique data set provided by a large international commercial bank, ... -
How do lending relationships affect access to credit and loan conditions in microlending?
2011-08A key problem facing microlenders is the high level of information asymmetry between them and their borrowers. In this paper, we analyze whether the relationship intensity between microlenders and borrowers helps to overcome ... -
On portfolio optimization: imposing the right constraints
2013-04We reassess the recent finding that no established portfolio strategy outperforms the naively diversified portfolio, 1/N, by developing a constrained minimum-variance portfolio strategy on a shrinkage theory based framework. ... -
Using industry momentum to improve portfolio performance
2012-05Minimum-variance portfolios, which ignore the mean and focus on the (co)variances of asset returns, outperform mean-variance approaches in out-of-sample tests. Despite these promising results, minimum-variance policies ...
