We examine team diversity and performance using the asset management industry as a laboratory. Employing political affiliation as a proxy, we find ideologically diverse teams perform better than homogeneous teams. The mechanism involves both improved decision-making due to more diverse...

The existing literature of performance persistence of US open-end funds is limited. We are going to use the entire population of 12083 US open-end funds to test performance persistence in different time periods, namely the first year, the third year, the fifth year and the tenth year. The sample...

To reduce a negative externality, socially responsible households can invest responsibly (SRI), consume responsibly (SRC), or do both. Which is better? In a closed microeconomic model with intertwined product and capital markets, we analyze how responsible households should use SRI and SRC to...