fund manager duality using a broad sample of single managed US equity funds. We find that duality managers significantly … underperform non-duality managers. This underperformance results from duality funds in the bottom performance quintile. This … suggests that duality managers can avoid being laid off despite their bad performance. Consistent with this lower risk of …

, we compare performance, risk, and style of equity mutual fund managers having a CFA designation and an MBA degree to … managers with only one of these qualifications. We document that the performance between these groups does not significantly … differ. However, managers with both degrees show less extreme and more persistent performance. Furthermore, consistent with …

We study the decisions and performance of managers who are also chair of the board (duality managers). We hypothesize … that duality managers take more risky decisions and deliver worse performance than non-duality managers due to reduced … hypotheses: Duality managers take risk that they could easily avoid, deviate from their benchmarks, make extreme decisions, and …