I provide evidence that fund managers who overweight firms with the most differentiated products ('monopolies') exhibit … environment using the 9/11 terrorist attacks. I document that managers who place larger monopoly bets are less likely to invest …

As institutional investors have become more aggressive in deploying their capital, fund managers have become more … the stocks equally, even those chosen by both of the underlying funds' managers. However, stocks chosen by both managers …

-liquidation sensitivity, suggesting real economic consequences for active fund managers and fund management companies. …

We study capital allocations to managers with two mutual funds, and show that investors learn about managers from their …

capital and its impact on bond risk premia. We show that institutional fund managers trade strongly procyclically: they … career concerns among institutional fund managers. …

evidence that this procyclical behavior is driven by career concerns among institutional fund managers. …

This paper investigates whether bond fund managers with credit rating experience outperform their peers. We document … that bond fund managers who previously worked in credit rat- ing agencies on average create higher risk-adjusted returns … information advantage provided by previous colleagues (network). Last, we document net inflows to funds managed by agent managers …