A tangled tale of training and talent: Phds in institutional asset management

Ranadeb Chaudhuri, Zoran Ivković, Joshua Pollet, Charles Trzcinka

Research output: Contribution to journalArticlepeer-review

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 languageEnglish (US)
Pages (from-to)5623-5647
Number of pages25
JournalManagement Science
Volume66
Issue number12
DOIs
StatePublished - 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

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