Document Type
Article
Publication Date
12-1-2010
Abstract
University endowments with broad portfolio diversification have been correlated with performance, but antecedents to investment committees' diversification decisions have not been tested previously. Investment committee characteristics including diverse investment expertise, a learning commitment and open-mindedness are postulated to affect portfolio diversification via the mediating effect of Portfolio Theory. The use of Portfolio Theory framework leads to greater portfolio diversification among top-performing endowments than among bottom-performing endowments
Keywords
portfolios, portfolio diversification, decision processes, Portfolio Theory, open-mindedness, learning commitment, expertise, performance, decision process
Rights
© The Author(s). Kelvin Smith Library provides access for non-commercial, personal, or research use only. All other use, including but not limited to commercial or scholarly reproductions, redistribution, publication or transmission, whether by electronic means or otherwise, without prior written permission is strictly prohibited.
Department/Center
Design & Innovation
Recommended Citation
Lord, Mimi, "Making Markowitz Proud: How High-Performing University Endowments Achieve Portfolio Diversification" (2010). Student Scholarship. 292.
https://commons.case.edu/studentworks/292