Measuring Managerial Skill in the Mutual Fund Industry
---- Acknowledgements -----
We could not have conducted this research without the help of the following research assistants for which we are grateful: Ashraf El Gamal, Maxine Holland, Christine Kang, Fon Kulalert, Ian Linford, Binying Liu, Jin Ngai, Michael Nolop, William Vijverberg and Christina Zhu. We thank George Chacko, Rick Green, Ralph Koijen, David Musto, Paul Pfleiderer, Anamaria Pieschacon, Robert Stambaugh and seminar participants at Robeco, Stockholm School of Economics, Stanford, University of Chicago, University of Toronto, Vanderbilt, Wharton, the NBER summer institute, and the Stanford Berkeley joint seminar for helpful comments and suggestions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.