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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

Eric K. M. Tan

University of Otago - Department of Accountancy and Finance

Anindya Sen

University of Otago - Department of Accountancy and Finance

Date Written: April 19, 2016

Abstract

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

Tan, Eric K. M. and Sen, Anindya, Does Educational Diversity of Managers Matter for the Performance of Team-Managed Funds? (April 19, 2016). Accounting & Finance. Available at SSRN: https://ssrn.com/abstract=2766816

Eric K. M. Tan (Contact Author)

University of Otago - Department of Accountancy and Finance ( email )

PO Box 56
Dunedin, 9054
New Zealand

Anindya Sen

University of Otago - Department of Accountancy and Finance ( email )

PO Box 56
Dunedin, 9054
New Zealand

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