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 …

different risk-taking behavior of fund managers is encouraged by the asymmetric delivery of information on fund returns. Unlike …

decrease in convexity of the relationship is associated with a decrease in managers' risk shifting. Low-performers undertake …

We propose a family of incentive contracts that can attract some fund managers who are favored by investors and deter … explicitly on the utilities of the managers and investors nor have a menu of choices. The contracts have two crucial components …

managers simultaneously manage multiple funds. We show that wellperforming managers multitask either by taking over poorly … performing funds within fund companies (i.e., acquired funds) or by launching new funds. We find that funds managed by managers …