Dass, Nishant; Nanda, Vikram; Wang, Qinghai - In: Journal of Financial Economics 110 (2013) 1, pp. 254-277
The literature suggests that while decentralized decision making can allow for greater specialization in an organization, it heightens the cost of coordinating decisions. The mutual fund industry—in particular, sole- and team-managed balanced funds—provides an ideal setting to test the...