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Evidence on Student-Managed Funds: A Survey of U.S. Universities

Business Education & Accreditation, Vol. 1, No. 1, pp. 55-64, 2009

10 Pages Posted: 26 Feb 2010  

Zhuoming "Joe" Peng

University of Arkansas at Fort Smith

William Dukes

affiliation not provided to SSRN

Ronald Bremer

Texas Tech University

Date Written: 2009

Abstract

An analysis of student-managed funds’ operations in 35 universities in the U.S. was conducted with the data collected through an Internet-based survey. The results indicate that CAPM is used in most SMFs as the means to estimate the required rate of return. Value Line and Wall Street Journal are the two most widely used information sources by SMFs. It is not common for a SMF to be equipped with its own trading room. The median value of the SMFs is $460,000, but the sampling distribution of the SMFs’ market capitalizations is highly right-skewed. Most of the SMFs have the same asset allocation decision. In total, about 69% of the SMFs in our sample invest at least 90% of the capital in Equity.

Keywords: Education, Finance

JEL Classification: G00, A29

Suggested Citation

Peng, Zhuoming "Joe" and Dukes, William and Bremer, Ronald, Evidence on Student-Managed Funds: A Survey of U.S. Universities (2009). Business Education & Accreditation, Vol. 1, No. 1, pp. 55-64, 2009. Available at SSRN: https://ssrn.com/abstract=1555122

Zhuoming "Joe" Peng (Contact Author)

University of Arkansas at Fort Smith ( email )

William Dukes

affiliation not provided to SSRN ( email )

Ronald Bremer

Texas Tech University ( email )

2500 Broadway
Lubbock, TX 79409
United States

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