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SUMMARY:Learning By Doing: The Value Of Experience And  The Origins Of Ski
 ll For Mutual Fund Managers
DTSTART:20141128T103000
DTEND:20141128T120000
DTSTAMP:20260929T072214Z
UID:0fcb2e15194d09bcdb57653b0813cd32dba88bd24ad8c0102f370231
CATEGORIES:Conferences - Seminars
DESCRIPTION:Oliver SPALT (Tilburg University)\nLearning by doing matters f
 or professional investors. We develop a new methodology to show that mutua
 l fund managers outperform in industries where they have obtained experien
 ce on the job. The key to our identification strategy is that we look “i
 nside" funds and exploit heterogeneity in experience for the same manager 
 at a given point in time across industries. As fund managers become more e
 xperienced\, they pick better stocks\, and their trades become better pred
 ictors for abnormal stock returns around subsequent earnings announcements
 . Our approach identifies experience as a first-order driver of observed m
 utual fund manager skill.
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CONFIRMED
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