Strategic thinking: the core of investment decision-making in Fund-of-Fund (FoF)

Wang, J ORCID: https://orcid.org/0000-0003-1200-2209, Tan, L ORCID: https://orcid.org/0000-0001-6986-1923, Wang, Y ORCID: https://orcid.org/0000-0001-5438-4255 and Wang, JY, 2024. Strategic thinking: the core of investment decision-making in Fund-of-Fund (FoF). Journal of Chinese Economic and Business Studies. ISSN 1476-5284

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Abstract

This study investigates FoF managers’ investment decision-making process and the most important fund/fund manager attributes perceived by FoF managers. We find that FoF managers apply strategic thinking and actively seek out fund managers who also possess strategic thinking competencies. Our findings show that the determinants of fund performance identified in the existing literature (e.g. fund age and education background) play a complementary role at fund-level investment decision, whereas selecting fund managers with strategic thinking competencies (e.g. accumulated working experience, individual cognitive ability, personality, core value and personal beliefs) dominates the qualitative criteria in FoF managers’ thought processes. This study provides new empirical evidence from FoF managers, which sheds light on the challenges FoF managers face in the fund-level investment decisions. The comprehensive thematic framework of this study contributes to the investment decision-making literature and the findings of the study will be useful to practitioners while making investment decisions.

Item Type:	Journal article
Publication Title:	Journal of Chinese Economic and Business Studies
Creators:	Wang, J., Tan, L., Wang, Y. and Wang, J.Y.
Publisher:	Informa UK Limited
Date:	4 September 2024
ISSN:	1476-5284
Identifiers:	Number Type 10.1080/14765284.2024.2388491 DOI 2210813 Other
Rights:	© 2024 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent.
Divisions:	Schools > Nottingham Business School
Record created by:	Laura Ward
Date Added:	09 Sep 2024 10:27
Last Modified:	09 Sep 2024 10:27
URI:	https://irep.ntu.ac.uk/id/eprint/52182

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