I analyze skill's role in active management under general equilibrium with many assets and costly trading. More … management in aggregate then corrects prices more, shrinking the profits those opportunities offer. The latter effect can … dominate in a setting consistent with numerous empirical properties of active management and stock returns …

The existence of complementarity across management practices has been proposed as one potential explanation for the … joint adoption of management practices have been conducted. Using unique detailed data on internal organization …, Total Quality Management, re-engineering, and a reduction in the number of layers in the hierarchy …

secure persistently superior performance via investments in better management and organization. We empirically analyze the … management is driven by two key organizational trade-offs: employee initiative vs. coordination as well as exploration of novel …