. Theoretical research suggests that money managers' short term focus stems from their career concerns and greater fund transparency … about fund managers' portfolio choices, we examine whether increased transparency encourages myopic corporate investment … behavior. We find that corporate innovation declines following the regulatory shock. Moreover, evidence from mutual fund …

fund families show higher sales and redemption rates. Further family size also affects the flow-performance relationship … redemptions, with investors strongly redeeming their shares from intra-family losers. -- Mutual Funds ; Fund Family ; Flow …

We present evidence of the impact of buy-side analysts on the behavior and performance of fund managers. Using data … provided by a large global asset manager, we relate buy-side analysts' recommendations to fund transactions on a daily basis …. Our results show that buy-side analysts have a significant influence on trading decisions: Fund managers almost certainly …

We study whether fund families efficiently allocate their fund managers to different market segments. Whether a fund … employed. We show that in the more efficient investment grade bond fund market segment, fund managers cannot translate higher … skill into higher fund alpha. In contrast, skilled managers can generate higher alpha in the less efficient high yield bond …

This paper develops a new approach that controls for commonalities in actively managed investment fund returns when … benchmark for each individual fund within that group. We demonstrate that this model substantially reduces the correlation … between fund residuals from standard models used for equity and fixed-income funds, and improves the estimates of fund α's and …