Esquemas de Incentivos y Carteras de Inversión Innovadoras

Translated title of the contribution: Incentive schemes and innovative portfolios

Gino Loyola, Yolanda Portilla

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which rewards extreme results and punishes moderate ones.

Translated title of the contributionIncentive schemes and innovative portfolios
Original languageSpanish
Pages (from-to)43-66
Number of pages24
JournalEstudios de Economia
Issue number1
Publication statusPublished - 1 Jun 2010

ASJC Scopus subject areas

  • Economics and Econometrics


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