Abstract
Performance of investment products managed by firms in which PhDs play a key role is superior to the performance of products managed by otherwise similar firms. This relation is not a result of endogenous matching between firms and PhDs. Performance is related to training (the field of study) because economics or finance PhDs outperform other PhDs. Performance is also related to talent because PhDs who published in top outlets outperform other PhDs. Field-specific training is not relevant among the most talented PhDs because the performance gap between economics or finance PhDs and other PhDs disappears among published PhDs.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 5623-5647 |
| Number of pages | 25 |
| Journal | Management Science |
| Volume | 66 |
| Issue number | 12 |
| DOIs | |
| State | Published - Dec 2020 |
Keywords
- Ability
- Doctorate
- Education
- Educational benefits
- Field-specific training
- Finance
- Investment
- Money management
- Performance
- PhD
- Publication
- Skill
- Talent
- Training
ASJC Scopus subject areas
- Strategy and Management
- Management Science and Operations Research