This article examines competition and investor behavior in the mutual fund industry for the
universe of US mutual funds during 1976–2009. Over this period, industry assets increased by …

This paper examines the relation between the replacement of mutual fund managers and their
prior performance. Using the growth rate in a fund's asset base and its portfolio returns as …

For a sample of 1163 mutual funds started over the period 1979–1992, we find that fund
initiations are positively related to the level of assets invested in and the capital gains …

This paper studies the mutual fund industry in 56 countries and examines where this financial
innovation has flourished. The fund industry is larger in countries with stronger rules, laws, …

We study mutual fund mergers between 1999 and 2001 to understand the role and effectiveness
of fund boards. Some fund mergers—typically across-family mergers—benefit target …

We examine the investment behavior of market participants within different international
markets (ie, US, Hong Kong, Japan, South Korea, and Taiwan), specifically with regard to their …

Using a new database, we study fees charged by 46,580 mutual fund classes offered for
sale in 18 countries, which account for about 86% of the world fund industry in 2002. We …

Founders create their organizations, yet are often expected to eventually become liabilities
to these same organizations. Past empirical research on the relationship between CEO …

Using a sample of all-star analysts who switch investment banks, we examine (1) whether
analyst behavior is influenced by banking relationships and (2) whether analyst behavior …

I examine the impact of mutual fund manager replacement on subsequent fund performance.
Using a sample of 393 domestic equity and bond fund managers that were replaced over …