Thesis (Ph. D.)--University of Missouri-Columbia, 2001. / Typescript. Vita. Includes bibliographical references (leaves 173-184). Also available on the Internet.

Thesis (Ph. D.)--University of Missouri-Columbia, 2001. / Typescript. Vita. Includes bibliographical references (leaves 173-184). Also available on the Internet.

Background – Due to the increased complexity of the Swedish financial market, the increased demand for financial services and the increased number of financial advisors, the role of financial advisors is important on the financial market. The external control from Finansinspektionen has been increased in order to eliminate rogue advisors and this type of control often affects employees’ motivation in a negative way. Because of the important role financial advisors have on the financial market, it is essential that they are motivated in order to perform well in their profession.  Purpose – The purpose of this study is to investigate how the external control affects the work motivation of financial advisors and how motivational factors could be used when designing a management control system in a context characterized by high external control. To answer this purpose, this thesis answers these following three research questions: What do financial advisors perceive to be the most effective motivational factors? How does the external control influence the motivation of financial advisors? How could the work be designed to maximize the motivation of financial advisors? Method – In order to fulfill the purpose of this study, we have a qualitative approach were we conducted ten semi-structured interviews with financial advisors. The financial advisors are working at two large Swedish financial advisory companies. Findings/Conclusion – After analyzing the empirical data, with relevant theories, interesting findings were made. In general, the external control from Finansinspektionen is interpreted as unmotivating by financial advisors. To counter this, it is important that the employers invest resources to develop IT-systems that minimize the time spent on these work tasks. The administrative work, which arises from the external control, would become more effective and not so time consuming. The management control systems must be designed so that they maximize the motivation of the advisors. Employers must also use correctly designed reward systems in order to have motivated employees. Practical Implications – This study contributes to important findings for managers in Swedish financial advisory companies. Since the management control systems could be designed in another way to maximize the motivation of the financial advisors, this study is an important contribution to the financial sector, where the financial advisors operate.

This thesis examines the degree to which alternative funds deviate from their style-benchmark and how this is related to past performance and fund size, and how it impacts future risk and returns. Additionally the thesis examines how security selection and market timing skills differ across varying degrees of deviation from the benchmark. The thesis uses data for hedge funds, funds of funds, and CTA funds from the Center for International Securities and Derivatives Markets and employs fund???s tracking error relative to their style-benchmark to estimate the level of drift. The style-benchmarks used are the median return for all reporting funds that follow a particular style and funds are assigned a benchmark based on their self-reported style. First, this thesis documents statistically significant differences in the tracking errors of portfolios of funds with the highest tracking error versus funds with the lowest tracking error, implying that some managers drift from their self-reported style-benchmarks. Second, funds??? benchmark-inconsistency is less severe in the case of funds that have a regulatory obligation to disclose their performance, suggesting that the absence of regulation fosters an environment where managers can be more flexible with their investment approach. Third, the tendency to drift from the benchmark is most prevalent amongst funds with superior past performance as well as small funds. Fourth, future total portfolio risk increases as funds display more benchmarkinconsistency, suggesting that managers adopt riskier strategies as they attempt to enhance returns. Fifth, the thesis demonstrates that CTA funds that display drift from their benchmark produce higher absolute and relative returns in subsequent periods regardless of the direction of the general market. In contrast, the findings show for hedge funds and funds of funds, benchmark-inconsistent funds are likely to outperform in bull markets and underperform in bear markets. Finally, this thesis shows that more benchmark-consistent managers have better security selection skill. The main contribution of this thesis is in identifying the group of hedge funds, funds of funds, and CTA funds that are likely to deviate from their self-reported style-benchmark and the risk-return consequences of such deviations. The findings have implications for investors and regulators.

Thesis (Ph. D.)--Oregon State University, 1993. / Typescript (photocopy). Includes bibliographical references (leaves 68-73). Also available on the World Wide Web.

Thesis (Ph. D.)--University of Sydney, 2002. / Title from title screen (viewed 16 April 2008). Submitted in fulfilment of the requirements for the degree of Doctor of Philosophy to the Discipline of Finance, School of Business, Faculty of Economics and Business. Includes bibliographical references. Also available in print form.

Thesis (Ph. D.)--Washington State University, May 2009. / Title from PDF title page (viewed on Apr. 10, 2009). "College of Education." Includes bibliographical references (p. 52-58).

Thesis (Ph. D.)--University of Missouri-Columbia, 2008. / The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file (viewed on June 10, 2009) Vita. Includes bibliographical references.

Thesis (Ed. D.)--Illinois State University, 1978. / Title from title page screen, viewed Jan. 10, 2005. Dissertation Committee: Charles W. Edwards (chair), Kenneth H. Strand, John McCarthy, Vernon A. Adams, James Clack. Includes bibliographical references (leaves 123-129) and abstract. Also available in print.

Thesis (Ph. D.)--University of Oregon, 1999. / Typescript. Includes vita and abstract. Includes bibliographical references (leaves 158-169). Also available for download via the World Wide Web; free to University of Oregon users. Address: http://wwwlib.umi.com/cr/uoregon/fullcit?p9947973.