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Where Do Successful Managers Come From? Evidence on Personal Characteristics, Fund Managers’ Skills, and Performance

In: Financial Markets and Corporate Finance

Author

Listed:
  • Sudipta Majumdar

    (O. P. Jindal Global University
    Indian Institute of Technology (IIT) Kharagpur)

  • Sankalp Bose

    (Indian Institute of Technology (IIT) Kharagpur)

  • Abhijeet Chandra

    (Indian Institute of Technology (IIT) Kharagpur)

Abstract

Research on fund management aims to ascertain whether fund performance is attributed to fund resources or the skills of the manager. However, most of the earlier research makes assumptions about manager skills based on fund return as the return of the manager who manages multiple funds throughout their career. In this paper, we examine the impact of fund managers’ personal traits, such as age, gender, education, and experience, on their managerial abilities. We compile an extensive dataset of returns attributable to managers by sampling fund managers of Indian origin. This dataset encompasses returns accumulated over the career trajectories of managers, amalgamating performance from the diverse range of funds they have overseen throughout their tenure. The findings demonstrate that manager skills are enhanced by undergraduate technical degrees and CFA certification but are diminished by manager age and experience. This study presents findings on how fund managers’ individual traits in determining manager skills, which remains largely uncharted, particularly when viewed through the lens of emerging markets.

Suggested Citation

  • Sudipta Majumdar & Sankalp Bose & Abhijeet Chandra, 2024. "Where Do Successful Managers Come From? Evidence on Personal Characteristics, Fund Managers’ Skills, and Performance," Springer Proceedings in Business and Economics, in: Shveta Singh & Sonali Jain (ed.), Financial Markets and Corporate Finance, chapter 0, pages 149-166, Springer.
    • Handle: RePEc:spr:prbchp:978-981-97-6242-2_8
    DOI: 10.1007/978-981-97-6242-2_8
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