We show that the similarity of a firm's technological expertise with other firms affects outcomes in the managerial labor market. Using each firm's patent portfolio to estimate its technological expertise, we find that its similarity in technological expertise with other firms is strongly...

We model and test the relations between the team management of mutual funds, fund manager ability, fund performance, and holdings. Our model predicts that team-managed funds will perform better, allocate their funds more conservatively, and trade less aggressively than single-manager funds....