Hedge fund managers are compensated via management fees on the assets under management (AUM) and incentive fees indexed …

Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has … picking skills and little evidence of timing skills among successful managers. This paper estimates skill separately in booms … and recessions and finds that the extent to which managers focus on stock picking or market timing fluctuates with the …

possibilities are internalized in the market, and where managers are complementary inputs to non-managerial workers. The paper … illustrates why some countries may adopt modern technologies while others stay backwards. The paper also explains why managers may …

30% of the value mutual fund managers add can be attributed to the firm's role in efficiently allocating capital amongst … its mutual fund managers. We find no evidence of a similar effect when a firm hires managers from another firm. We …