that the law constrains managerial majority shareholders, both in their day-to-day management and when they redeem the …

We empirically analyze the nature of returns to scale in active mutual fund management. We find strong evidence of … avoid econometric biases are insignificant. We also find that the active management industry has become more skilled over …

Across many sectors, research has established that management explains a notable portion of productivity differences … across organizations. A remaining question, however, is whether it is managers themselves or firm-wide management practices … this setting, managers move between stores but management practices are set by firm policy and largely fixed, allowing us …