This paper examines managerial replacements made by mutual fund families. Using a unique hand-collected dataset of 5,242 managerial replacement events from 1990 to 2011, this study finds fund's performance and flow ranking at the fund family level form the basis of mutual fund families'...

Hedge funds are secretive products whose quality is difficult to ascertain in advance of investment. We examine two views of past work experience as predictors of hedge fund manager pedigree. In one, sector specific (hedge fund) work experience is positively related to performance. In the other,...

Do public fund manager accolades reveal fundamental information about portfolio managers' performance? This paper examines the effect of mutual fund managers' superstar status on their money flows, performance, compensation, and risk-taking behavior. We show results consistent with Berk and van...