You’re fired! New Evidence on Portfolio Manager Turnover and Performance

2012 ◽  
Author(s):  
Leonard Kostovetsky ◽  
Jerold B. Warner
Keyword(s):  
Portfolio Manager ◽  
And Performance ◽  
New Evidence ◽  
Manager Turnover

You’re Fired! New Evidence on Portfolio Manager Turnover and Performance

2015 ◽  
Vol 50 (4) ◽  
pp. 729-755 ◽  
Author(s):  
Leonard Kostovetsky ◽  
Jerold B. Warner
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Previous Literature ◽  
Fund Management ◽  
Management Performance ◽  
Managerial Turnover ◽  
Portfolio Manager ◽  
And Performance ◽  
New Evidence ◽  
Manager Turnover

AbstractWe study managerial turnover for both internally managed mutual funds and those managed externally by subadvisors. We argue that turnover of subadvisors provides sharper tests and helps address several unresolved issues and puzzles from the previous literature. We find dramatically stronger inverse relations between subadvisor departures and lagged returns, and new evidence on how past flow predicts turnover. We find no evidence of improvements in return performance related to departures, but flow improvements are associated with departures of poor past performers. Our findings represent new evidence on how investors, sponsors, and boards learn about and evaluate mutual fund management performance.

scholarly journals Juxtaposition of Organizational Competitive Factors and Performance Evaluation in Conjunction with Their Implications for HRM in MNCs: Part One, Contextual Review and Comparison of Central European and Polish Findings

2017 ◽  
Vol 9 (3) ◽  
pp. 79-118
Author(s):  
Marzena Stor ◽  
József Poór ◽  
Allen D. Engle
Keyword(s):  
Multinational Corporations ◽  
Local Level ◽  
Value Added ◽  
Performance Outcomes ◽  
Performance Evaluations ◽  
Competitive Advantages ◽  
Central European ◽  
And Performance ◽  
International Hrm ◽  
New Evidence

AbstractObjective – The main goal of the paper is to determine whether there are any identifiable patterns of HRM perceptions and practices when the factors recognized as the companies’ competitive advantages and results of their performance outcomes are juxtaposed in conjunction with their implications for HRM.Methodology – The research was conducted in five Central European (CE) countries. The data collected from this region is used to assess the comparative context (descriptive statistics) for more detail correlational analyses conducted on the data coming exclusively from local subsidiaries of multinational corporations (MNCs) operating in Poland. This Polish data analysis is presented in a second article published in this volume.Findings - The average values of performance evaluations gain slightly better scores in Poland than in CE. The HQ of MNCs exert less influence on HRM practices at the local level in Poland than an average of the overall CE region.Value added – The research has theoretical significance because its results provide new evidence about the specificity of HRM in local subsidiaries of MNCs operating in the CE region. Furthermore, it identifies some patterns of HRM perceptions and practices at the local level of MNCs both in CE and Poland, and especially when the factors recognized as competitive advantages of local subsidiaries. The results of performance evaluations of these subsidiaries are juxtaposed in conjunction with their implications for HRM. All this makes a real and specific contribution to knowledge about strategic international HRM in MNCs.

scholarly journals Corporate governance and firm performance: New evidence from Brazil

2011 ◽  
Vol 8 (4) ◽  
pp. 527-531
Author(s):  
Mariana Vieira ◽  
Andre Carvalhal da Silva ◽  
Otavio Figueiredo
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Positive Relation ◽  
Academic Literature ◽  
Future Performance ◽  
Quality Of Governance ◽  
And Performance ◽  
New Evidence ◽  
The Relationship

The relationship between governance and firm performance has been vastly studied in the academic literature. Although most studies indicate a positive relation between governance and performance, this result is not clear and conclusive to many experts. This paper uses a new methodology to analyze the relation between governance and performance. We compute the change in the quality of governance and classify the firms into three groups (positive, neutral and negative variation). Then we calculate the current and future performance for each group and check if there is a relation between changes in governance and firm performance. Analyzing Brazilian data from 2002 to 2008, our results indicate that positive (negative) changes on corporate governance are associated with positive (negative) changes on firm performance

Currency derivatives for hedging: New evidence on determinants, firm risk, and performance

2017 ◽  
Vol 38 (4) ◽  
pp. 446-467 ◽  
Author(s):  
Sung C. Bae ◽  
Hyeon Sook Kim ◽  
Taek Ho Kwon
Keyword(s):  
Firm Risk ◽  
Currency Derivatives ◽  
And Performance ◽  
New Evidence

scholarly journals Total Quality Management and SME Performance: The Mediating Effect of Innovation in Malaysia

2019 ◽  
Vol 14 (1) ◽  
pp. 201-217
Author(s):  
Nurazree Mahmud ◽  
◽  
Mohd Faiz Hilmi ◽  
Yanti Aspha Ameira Mustapha ◽  
Rizuwan Abu Karim ◽  
...  
Keyword(s):  
Structural Equation ◽  
Manufacturing Industry ◽  
Equation Model ◽  
Mediating Effect ◽  
Measurement Scale ◽  
Research Model ◽  
Total Quality ◽  
And Performance ◽  
New Evidence ◽  
The Relationship

The purpose of this study was to discover the crucial issues between TQM and the performance of Malaysian SMEs. This paper also reviewed the need of the other variable in the relationship between TQM and Malaysian SME’s performance; namely innovation. This paper then presents the empirical results carried out on the Malaysian SMEs covering the manufacturing industry. The measurement scale in this study was tested and found to be reliable and valid to examine the research model. The 124 samples obtained were assessed using Smart PLS in order to examine the structural equation model. Empirical findings in this study prove that TQM had an insignificant impact on innovation and performance. Moreover, innovation mediates the relationship between TQM and performance of SMEs in Malaysia. This study provides new evidence in the important area of TQM and innovation of Malaysian SMEs. Keywords: TQM, innovation, SME performance, manufacturing, Malaysia

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