{"id":"https://openalex.org/W2139417618","doi":"https://doi.org/10.1093/rfs/hhr057","title":"The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds?","display_name":"The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds?","publication_year":2011,"publication_date":"2011-06-21","ids":{"openalex":"https://openalex.org/W2139417618","doi":"https://doi.org/10.1093/rfs/hhr057","mag":"2139417618"},"language":"en","primary_location":{"id":"doi:10.1093/rfs/hhr057","doi":"https://doi.org/10.1093/rfs/hhr057","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/hhr057","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Financial Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5025621925","display_name":"Prachi Deuskar","orcid":"https://orcid.org/0000-0001-6431-8833","observed_orcids":["https://orcid.org/0000-0001-6431-8833"]},"institutions":[{"id":"https://openalex.org/I122328836","display_name":"Indian School of Business","ror":"https://ror.org/027t6ka17","country_code":"IN","type":"education","lineage":["https://openalex.org/I122328836"]},{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]}],"countries":["IN","US"],"is_corresponding":false,"raw_author_name":"Prachi Deuskar","raw_affiliation_strings":["Department of Finance, College of Business, University of Illinois at Urbana-Champaign","Indian school of business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, College of Business, University of Illinois at Urbana-Champaign","institution_ids":["https://openalex.org/I157725225"]},{"raw_affiliation_string":"Indian school of business","institution_ids":["https://openalex.org/I122328836"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5091747589","display_name":"Joshua Matthew Pollet","orcid":"https://orcid.org/0000-0002-5301-695X","observed_orcids":["https://orcid.org/0000-0002-5301-695X"]},"institutions":[{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]},{"id":"https://openalex.org/I87216513","display_name":"Michigan State University","ror":"https://ror.org/05hs6h993","country_code":"US","type":"education","lineage":["https://openalex.org/I87216513"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Joshua M. Pollet","raw_affiliation_strings":["Department of Finance, Eli Broad College of Business, Michigan State University","University of Illinois at Urbana-Champaign - Department of Finance"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, Eli Broad College of Business, Michigan State University","institution_ids":["https://openalex.org/I87216513"]},{"raw_affiliation_string":"University of Illinois at Urbana-Champaign - Department of Finance","institution_ids":["https://openalex.org/I157725225"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5043600340","display_name":"Zhi Jay Wang","orcid":"https://orcid.org/0000-0001-7445-6017","observed_orcids":["https://orcid.org/0000-0001-7445-6017"]},"institutions":[{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]},{"id":"https://openalex.org/I181233156","display_name":"University of Oregon","ror":"https://ror.org/0293rh119","country_code":"US","type":"education","lineage":["https://openalex.org/I181233156"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Z. Jay Wang","raw_affiliation_strings":["Department of Finance, College of Business, University of Illinois at Urbana-Champaign","University of Oregon - Charles H. Lundquist School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, College of Business, University of Illinois at Urbana-Champaign","institution_ids":["https://openalex.org/I157725225"]},{"raw_affiliation_string":"University of Oregon - Charles H. Lundquist School of Business","institution_ids":["https://openalex.org/I181233156"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5035937327","display_name":"Lu Zheng","orcid":"https://orcid.org/0009-0004-3765-0557","observed_orcids":["https://orcid.org/0009-0004-3765-0557"]},"institutions":[{"id":"https://openalex.org/I204250578","display_name":"University of California, Irvine","ror":"https://ror.org/04gyf1771","country_code":"US","type":"education","lineage":["https://openalex.org/I204250578"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Lu Zheng","raw_affiliation_strings":["Department of Finance, Paul Merage School of Business, University of California at Irvine and CAFR","University of California Irvine Paul Merage School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, Paul Merage School of Business, University of California at Irvine and CAFR","institution_ids":["https://openalex.org/I204250578"]},{"raw_affiliation_string":"University of California Irvine Paul Merage School of Business","institution_ids":["https://openalex.org/I204250578"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":4028,"currency":"USD","value_usd":4028},"apc_paid":null,"fwci":18.3501,"has_fulltext":false,"cited_by_count":88,"citation_normalized_percentile":{"value":0.99046097,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"24","issue":"9","first_page":"3008","last_page":"3024"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9448000192642212,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9448000192642212,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.04089999943971634,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.005200000014156103,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mutual-fund-managers","display_name":"mutual fund managers","score":0.9290000200271606},{"id":"https://openalex.org/keywords/hedge-funds","display_name":"hedge funds","score":0.9769999980926514},{"id":"https://openalex.org/keywords/fund-performance","display_name":"fund performance","score":0.5720000267028809},{"id":"https://openalex.org/keywords/talent-migration","display_name":"talent migration","score":0.34700000286102295},{"id":"https://openalex.org/keywords/mutual-fund-industry","display_name":"mutual fund industry","score":0.43299999833106995}],"concepts":[{"id":"https://openalex.org/C155301685","wikidata":"https://www.wikidata.org/wiki/Q493177","display_name":"Open-end fund","level":4,"score":0.7825844287872314},{"id":"https://openalex.org/C34375142","wikidata":"https://www.wikidata.org/wiki/Q1156684","display_name":"Fund of funds","level":3,"score":0.7361504435539246},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7293437719345093},{"id":"https://openalex.org/C55286048","wikidata":"https://www.wikidata.org/wiki/Q5508875","display_name":"Fund administration","level":4,"score":0.7158271074295044},{"id":"https://openalex.org/C204434749","wikidata":"https://www.wikidata.org/wiki/Q105611","display_name":"Hedge fund","level":2,"score":0.6916922330856323},{"id":"https://openalex.org/C2777064782","wikidata":"https://www.wikidata.org/wiki/Q791974","display_name":"Mutual fund","level":2,"score":0.616614580154419},{"id":"https://openalex.org/C90561083","wikidata":"https://www.wikidata.org/wiki/Q6015055","display_name":"Income fund","level":5,"score":0.6009348630905151},{"id":"https://openalex.org/C124932975","wikidata":"https://www.wikidata.org/wiki/Q1061648","display_name":"Sovereign wealth fund","level":3,"score":0.5150167942047119},{"id":"https://openalex.org/C84355842","wikidata":"https://www.wikidata.org/wiki/Q361863","display_name":"Closed-end fund","level":3,"score":0.5064877271652222},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5061036944389343},{"id":"https://openalex.org/C68387835","wikidata":"https://www.wikidata.org/wiki/Q7168236","display_name":"Performance fee","level":5,"score":0.490151971578598},{"id":"https://openalex.org/C18123600","wikidata":"https://www.wikidata.org/wiki/Q4736495","display_name":"Alternative beta","level":5,"score":0.46104782819747925},{"id":"https://openalex.org/C11393971","wikidata":"https://www.wikidata.org/wiki/Q6746722","display_name":"Manager of managers fund","level":3,"score":0.4570569694042206},{"id":"https://openalex.org/C91306197","wikidata":"https://www.wikidata.org/wiki/Q45767","display_name":"Competition (biology)","level":2,"score":0.43160268664360046},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.4127899706363678},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.16017580032348633},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.08602824807167053},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.05864939093589783},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.0},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1093/rfs/hhr057","doi":"https://doi.org/10.1093/rfs/hhr057","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/hhr057","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Financial Studies","raw_type":"journal-article"},{"id":"pmh:oai:eprints.exchange.isb.edu:1013","doi":null,"is_oa":false,"landing_page_url":"https://eprints.exchange.isb.edu/id/eprint/1013/1/The%20Good%20or%20the%20Bad%20Which%20Mutual%20Fund%20Managers%20Join%20Hedge%20Funds.pdf","pdf_url":"https://eprints.exchange.isb.edu/id/eprint/1013/1/The%20Good%20or%20the%20Bad%20Which%20Mutual%20Fund%20Managers%20Join%20Hedge%20Funds.pdf","source":{"id":"https://openalex.org/S4377196660","display_name":"Digital Eprints Services at ISB (DESI) (Indian School of Business)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I122328836","host_organization_name":"Indian School of Business","host_organization_lineage":["https://openalex.org/I122328836"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.460.7081","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.460.7081","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://business.illinois.edu/zhiwang/Switchers_MFtoHF.pdf","raw_type":"text"},{"id":"pmh:oai:RePEc:oup:rfinst:v:24:y:2011:i:9:p:3008-3024","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1093/rfs/hhr057","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.48510000109672546}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":25,"referenced_works":["https://openalex.org/W1990925122","https://openalex.org/W1991208010","https://openalex.org/W2031424619","https://openalex.org/W2039352825","https://openalex.org/W2088182744","https://openalex.org/W2096583482","https://openalex.org/W2098996963","https://openalex.org/W2111562586","https://openalex.org/W2120570605","https://openalex.org/W2132594562","https://openalex.org/W2132802986","https://openalex.org/W2133441017","https://openalex.org/W2136120210","https://openalex.org/W2149522128","https://openalex.org/W2591296036","https://openalex.org/W3121579403","https://openalex.org/W3121936648","https://openalex.org/W3122476324","https://openalex.org/W3122973831","https://openalex.org/W3123430991","https://openalex.org/W3124278286","https://openalex.org/W3125306287","https://openalex.org/W3125867033","https://openalex.org/W3149901755","https://openalex.org/W4239453719"],"related_works":["https://openalex.org/W7100237895","https://openalex.org/W3153141160","https://openalex.org/W3123430991","https://openalex.org/W3122476324","https://openalex.org/W2086975914","https://openalex.org/W2198915093","https://openalex.org/W3045990165","https://openalex.org/W1982608953","https://openalex.org/W4251330266","https://openalex.org/W3121936648"],"abstract_inverted_index":{"Does":[0],"the":[1,26,37,47,69,81],"mutual":[2,15,48,83],"fund":[3,34,49,65,71,84,95],"industry":[4,72],"lose":[5],"its":[6],"best":[7],"managers":[8,21,85],"to":[9,19,45,91],"hedge":[10,33,64,70,94],"funds?":[11],"We":[12],"find":[13,58],"that":[14],"funds":[16],"are":[17,42,86],"able":[18],"retain":[20],"with":[22,60],"good":[23],"performance":[24],"in":[25],"face":[27],"of":[28,54,80],"competition":[29],"from":[30],"a":[31,77,93],"growing":[32,74],"industry.":[35,50],"On":[36],"other":[38],"hand,":[39],"poor":[40,56],"performers":[41,57],"more":[43],"likely":[44],"leave":[46],"A":[51],"small":[52,78],"fraction":[53,79],"these":[55],"jobs":[59],"smaller":[61],"and":[62],"younger":[63],"companies,":[66],"especially":[67],"when":[68],"is":[73],"rapidly.":[75],"Analogously,":[76],"better-performing":[82],"retained":[87],"by":[88],"allowing":[89],"them":[90],"manage":[92],"side-by-side.":[96]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":7},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":6},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":4},{"year":2016,"cited_by_count":6},{"year":2015,"cited_by_count":7},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":12},{"year":2012,"cited_by_count":10}],"updated_date":"2026-10-28T10:33:24.094632","created_date":"2016-06-24T00:00:00"}
