This paper experimentally investigates the impact of different pay and relative performance information policies on … employee effort. We explore three information policies: No feedback about relative performance, feedback given halfway through …-takes-all tournament. We find that, regardless of the pay scheme used, feedback does not improve performance. There are no significant peer …

managers prior to multitasking (i.e., incumbent funds) experience performance deterioration while the performance of the …

prior to multitasking (i.e., incumbent funds) experience significant performance deterioration subsequent to multitasking … while the performance of the acquired funds improves. Although there is no change in the investor flows into the incumbent …

performance, and thus as a solution to the principal-agent dilemma created by the separation of ownership and management in …

underperform non-duality managers. This underperformance results from duality funds in the bottom performance quintile. This … suggests that duality managers can avoid being laid off despite their bad performance. Consistent with this lower risk of … investment styles which lead to more extreme performance outcomes. Only about one fifth of the nonduality managers invest as …

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 …, consequently, deliver extreme performance outcomes. Furthermore, their average underperformance is 2.5 percent. All effects are the …