The results of this study indicate that companies have built strong capabilities for collecting information. However, their ability to interpret information, disseminate gained insights and trigger management reactions leaves room for improvement: Only 23% of the participants state that SF...

We investigate the relationship between a mutual fund's variation in factor exposures and its future performance. Using a dynamic state space version of Carhart (1997)'s four factor model to capture factor variation, we find that funds with volatile factor exposures underperform funds with...

The authors address the issue of effectiveness of medical rehabilitation in terms of labor market outcomes by analyzing a large representative administrative panel data set for Germany. The research design focuses on socio-demographic group differences in before-after differences in days with...

We investigate the relationship between a mutual fund's variation in factor exposures and its future performance. Using a dynamic state space version of Carhart (1997)'s four factor model to capture factor variation, we find that funds with volatile factor exposures underperform funds with...

We examine the effect of the introduction of Morningstar's Sustainability Rating in March 2016 on U.S. mutual equity fund flows. Using panel regressions, propensity score matching, and an event study methodology we find strong and robust evidence that retail investors shift money away from...

We investigate the relationship between a mutual fund’s variation in systematic risk factor exposures and its future performance. Using a dynamic state space version of Carhart (1997)’s four factor model to capture risk factor variation, we find that funds with volatile risk factor exposures...

This dissertation contributes to two recent debates in the mutual fund literature: The impact of sustainability on mutual fund flows and the connection between fund activeness and mutual fund performance. In March 2016, Morningstar, one of the leading information providers in the mutual fund...