Date of Conferral

7-10-2024

Date of Award

July 2024

Degree

Doctor of Business Administration (D.B.A.)

School

Business Administration

Advisor

William Stokes

Abstract

Investment managers are concerned with investment strategy decisions, as they are one of the key predictors of successful investment management. Grounded in prospect theory, the purpose of this quantitative correlational research study was to examine the relationship between investment strategy, investment returns, and investment performance. The population consisted of 120 cases collected from Morningstar’s mutual fund database. The results of the multiple linear regression were significant, F(5, 119) = 36.598, p <.001, R2=.616. In the final model, two predictors were significant: total 5-year returns (ß = 0.034, p < .001) and large-cap investment strategy (ß = -0.357, p = .026) were significant predictors of investment performance. A key recommendation is for investment managers to determine the risk level they are willing to accept when building a portfolio. The implications for positive social change include boosting investment returns and performance, hence improving the investment industry's stability, which may result in the expansion of local economies.

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