Choosing two business degrees versus choosing one: What does it tell about mutual fund managers' investment behavior?

Andreu, Laura; Puetz, Alexander

doi:10.1016/j.jbusres.2017.02.014

Cited by 12 publications

(8 citation statements)

References 32 publications

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“…Other scholars have cited good versus bad luck as a key factor (Ayadi, Ben-Ameur, & Kryzanowski, 2016;Ayadi, Chaibi, & Kryzanowski, 2016;Blake, Caulfield, Ioannidis, & Tonks, 2017). Andreu and Puetz (2017) affirmed that individuals with university degrees can be found at either extreme: outstanding returns or devastating losses. In contrast, individuals with two university degrees are more cautious investors and take fewer risks, so they achieve more modest returns.…”

Section: Manager Tenurementioning

confidence: 99%

Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis

Graham

Navarré

Navarrete

2019

Economic Research-Ekonomska Istraživanja

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This study examines the conditions that lead mutual funds to underperform or outperform competitors. Using fuzzy-set qualitative comparative analysis (fsQCA), we draw upon extensive research on fund returns to affirm and extend earlier discoveries. Fund performance (Morningstar ratings), features of the funds themselves, and characteristics of the fund managers are considered. Positive Morningstar star and analyst ratings are necessary conditions for funds to generate value (measured by Jensen's alpha). Funds with low management fees and low ongoing fees have attractive Sharpe ratios and high returns. Likewise, large funds with good Morningstar ratings have good Sharpe ratios and returns, often when fund managers have short tenures.

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Section: Manager Tenurementioning

confidence: 99%

Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis

Graham

Navarré

Navarrete

2019

Economic Research-Ekonomska Istraživanja

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“…Other individual‐level factors of general human capital could be examined that support or diminish the relationship between MMs' educational background and product ambidexterity (Kurtmollaiev et al, 2018). For instance, future research could consider MMs' participation in specific training programs inside and outside the firm that may impact product ambidexterity (Andreu and Puetz, 2017).…”

Section: Discussionmentioning

confidence: 99%

“…Moreover, and in contrast to top managers, who benefit more from more general and broad education, MMs' focus on domain‐related functional tasks benefits from more specialized education (Krausert, 2014). Prior research reveals that MMs with less specialized educational backgrounds tend to be risk‐averse and follow rather conventional approaches (Andreu and Puetz, 2017). This risk aversion can prevent effective search and opportunity recognition and hinder the development of pronounced product ambidexterity (Helfat and Martin, 2015; Voss and Voss, 2013).…”

Section: Derivation Of Hypothesesmentioning

confidence: 99%

Achieving Product Ambidexterity in New Product Development: The Role of Middle Managers' Dynamic Managerial Capabilities

Greven

Kruse

Vos

et al. 2022

J Management Studies

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While the concept of dynamic managerial capabilities was initially developed to understand top managers' strategic decisions, we theorize that it can explain how middle managers successfully contribute to functional outcomes. In this paper, we apply the dynamic managerial capabilities perspective and theorize that middle managers' capabilities to sense, seize, and reconfigure opportunities and assets, enhance product ambidexterity. We test our predictions with survey data obtained in two waves with a three‐year time lag and enriched with archival data from a sample of 185 German middle managers. Our results show that middle managers' general human capital (specialized education), structural social capital (managerial ties), and relational social capital (trust) are positively related to product ambidexterity, while their cognitive social capital (solidarity) is negatively related. We contribute by expanding the concept of dynamic managerial capabilities to middle management and provide insights into the underexplored relationship between middle managers' capabilities and functional product ambidexterity.

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“…However, due to the lack of information on manager compensation for other less-developed mutual fund industries, we incorporate both the education and industry experience of mutual fund managers as a proxy for the manager compensation assumed by mutual fund companies. According to the literature on education among professionals, education is positively related to higher wages and less frequent and shorter periods of unemployment (e.g., Cohen et al, 1997;Riddell and Song, 2011;OECD, 2014;Andreu and Puetz, 2017). Accordingly, it makes sense that the base salary of a mutual fund manager is mainly determined by education and industry experience.…”

Section: The Inputsmentioning

confidence: 99%

Efficiency of mutual fund managers: A slacks-based manager efficiency index

Andreu

Lozano

Vicente

2019

European Journal of Operational Research

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This paper develops an innovative slacks-based manager efficiency index (SMEI) to evaluate the efficiency of mutual fund managers. First, the SMEI contributes to decisions by evaluating the efficiency of the manager as a whole instead of focusing on individual mutual funds.Second, the SMEI includes socio-demographic variables to extend the mere consideration of financial variables in the model. Third, the SMEI identifies locally efficient but globally inefficient managers. This local SMEI evaluates managers in reference to the 'best practice' competitors with similar management characteristics. Finally, this paper includes a real application of the SMEI in a sample of individual managers in the Spanish mutual fund industry. This empirical illustration further examines the persistence of the efficiency scores and the influence of the SMEI variables on the efficiency of individual managers. EJOR keyword: Investment analysis Keywords:Mutual fund managers; Data envelopment analysis; Slacks-based manager efficiency index performance gauging, and duality: A variation on the Luenberger shortage function.

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Choosing two business degrees versus choosing one: What does it tell about mutual fund managers' investment behavior?

Cited by 12 publications

References 32 publications

Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis

Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis

Achieving Product Ambidexterity in New Product Development: The Role of Middle Managers' Dynamic Managerial Capabilities

Efficiency of mutual fund managers: A slacks-based manager efficiency index

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