Does Educational Diversity of Managers Matter for the Performance of Team-Managed Funds?
Accounting & Finance
37 Pages Posted: 20 Apr 2016 Last revised: 15 Mar 2017
Date Written: April 19, 2016
We study the effect of the educational diversity of managers on the performance of team-managed mutual funds using a large sample of U.S. equity funds from 1994 to 2013. We consider diversity in terms of both final educational degree and field of educational specialization. We find that, in general, both types of diversity have a positive impact on fund performance, and our results are robust over a wide range of performance metrics and changes in market conditions.
Keywords: Fund Manager, Education, Diversity, Team-Managed, Performance
JEL Classification: G23, G28
Suggested Citation: Suggested Citation