CAJ | 학술논문

实证检验了微观层面基金经理特征与基金公司经营层面管理策略对基金人业绩的影响。研究结果表明，基金经理个人特征的大多数变量与基金业绩之间不存在显著相关关系。而任期前是否明星基金则与基金业绩之间有着显著正相关。研究结果为理解基金业绩的主要影响因素提供了参考，也有利于投资者对证券基金的选择。
실증검험료미관층면기금경리특정여기금공사경영층면관리책략대기금인업적적영향。연구결과표명，기금경리개인특정적대다수변량여기금업적지간불존재현저상관관계。이임기전시부명성기금칙여기금업적지간유착현저정상관。연구결과위리해기금업적적주요영향인소제공료삼고，야유리우투자자대증권기금적선택。
This paper empirically tests the influence of the characteristics of fund managers from the micro level and management strate-gy from fund company operating level on fund performance. The research results show that,there is no significant correlation between most of the variables of fund manager personal characteristics and fund performance. While there is a significant positive correlation be-tween whether the fund is star fund before the manager’s tenure and fund performance. The results provide a reference for understanding the main influence factors of fund performance,but also conducive to investors on the choice of securities investment fund.