Risk Consistency and Professional Fund Managers’ Investment Behavior: Questionnaire-based Analysis on Japanese Market*

Masayuki Susai (Nagasaki University)
Hiroshi Moriyasu (Nagasaki University)

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2.Brief Summary of Questionnaire – Type Survey

This questionnaire-type survey was conducted in 2005. All respondents were fund managers of investment trusts and pension funds in Japanese trust and investment banks. We sent questionnaires to each respondent by mail and requested for them to send the questionnaires back to us. We collected 283 questionnaires out of 823 .

The questions are divided into four sections. In section 1, we ask about the respondent’s background. In section 2, we ask about the relationship between operation performance and incentives. The third section features general questions on fund managing operations. In the final section, we ask respondents about their investment behavior and information gathering processi.