Finding Your Calling: Matching Skills with Jobs in the Mutual Fund Industry

• 成果类型: Article; Early Access
• 署名作者: Cici, Gjergji; Hendriock, Mario; Kempf, Alexander
• 署名单位: University of Kansas; University of Cologne; University of Cologne
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc2022.02805
• 发表日期: 2025
• 关键词: Human capital; Mutual funds; occupational match finding

摘要

To best utilize labor, companies need to match employees' skills with jobs that best fit those skills. Exploiting unique features of the mutual fund industry, we identify instances when this matching happens for fund managers and study its consequences. When fund managers are matched, they deliver a significantly higher risk-adjusted performance. Fund companies use this information to maximize company value by increasing assets under the management of these managers (i.e., assigning them to more and larger funds) and by collecting higher fees from these managers' funds. In addition, they make the expertise of these managers available to other managers of the fund company.