Finance Seminar with Jonathan Berk, Stanford Graduate School of Business, Stanford University

Upcoming Finance Seminar with Jonathan Berk, Stanford Graduate School of Business, Stanford University

 
Friday, September 13, 2013 - 11:00 to 12:15

The Department of Finance is proud to announce the upcoming seminar with Jonathan Berk, Stanford Graduate School of Business, Stanford University.

Jonathan will present:

Measuring Skill in the Mutual Fund Industry

 

Authors:
Jonathan B. Berk, Stanford University and NBER
Jules H. van Binsbergen, Stanford University and NBER

Abstract:

Using the dollar-value that a mutual fund adds as the measure of skill, we find that the average mutual fund adds about $2 million per year and that this skill persists for as long as 10 years. We further document that investors recognize this skill and reward it by investing more capital with better funds. Better funds earn higher aggregate fees, and there is a strong positive correlation between current compensation and future performance.

The page was last edited by: Department of Finance // 07/20/2018