Individual commitment and team performance : evidence from mutual fund managers

Individual commitment and team performance : evidence from mutual fund managers

The psychology literature suggests that individual commitment has a positive effect on team performance by mitigating the free-rider problem. With its detailed management-team information, the mutual fund industry provides a unique opportunity to study how individual managerial commitment is related...

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Main Authors: Luo, Jiang, Qiao, Zheng
Other Authors: Nanyang Business School
Format: Article
Language:English
Published: 2021
Subjects:
Business::General
Mutual Fund
Literature
Online Access:https://hdl.handle.net/10356/148917
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-1489172023-05-19T07:31:18Z Individual commitment and team performance : evidence from mutual fund managers Luo, Jiang Qiao, Zheng Nanyang Business School Business::General Mutual Fund Literature The psychology literature suggests that individual commitment has a positive effect on team performance by mitigating the free-rider problem. With its detailed management-team information, the mutual fund industry provides a unique opportunity to study how individual managerial commitment is related to performance. Committed fund managers are defined as those who work only for one fund. With few incentives to acquire private information, teams with no committed members underperform those with committed members. These findings remain robust after we incorporate various controls. We also explore why non-committed teams have been used increasingly often despite their poor performance. Ministry of Education (MOE) Published version We thank an anonymous referee, Vikas Agarwal, Antonio Bernardo, Hendrik Bessembinder (the editor), Hongbin Cai, Zhanhui Chen, Stephen Dimmock, Chuan Yang Hwang, Jun-Koo Kang, and Vikram Nanda for valuable comments. Luo acknowledges the financial support from the Singapore Ministry of Education (Tier 1 Grant: RG69/13). Qiao acknowledges the financial support from the National Natural Science Foundation of China (71802171, 71790601). All errors are ours. 2021-05-17T09:10:06Z 2021-05-17T09:10:06Z 2020 Journal Article Luo, J. & Qiao, Z. (2020). Individual commitment and team performance : evidence from mutual fund managers. Journal of Financial and Quantitative Analysis, 55(6), 2073-2098. https://dx.doi.org/10.1017/S0022109019000346 0022-1090 https://hdl.handle.net/10356/148917 10.1017/S0022109019000346 2-s2.0-85065030399 6 55 2073 2098 en RG69/13 Journal of Financial and Quantitative Analysis © 2019 Michael G. Foster School of Business, University of Washington. All rights reserved. This paper was published in Journal of Financial and Quantitative Analysis and is made available with permission of Michael G. Foster School of Business, University of Washington. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Business::General
Mutual Fund
Literature
spellingShingle Business::General
Mutual Fund
Literature
Luo, Jiang
Qiao, Zheng
Individual commitment and team performance : evidence from mutual fund managers
description The psychology literature suggests that individual commitment has a positive effect on team performance by mitigating the free-rider problem. With its detailed management-team information, the mutual fund industry provides a unique opportunity to study how individual managerial commitment is related to performance. Committed fund managers are defined as those who work only for one fund. With few incentives to acquire private information, teams with no committed members underperform those with committed members. These findings remain robust after we incorporate various controls. We also explore why non-committed teams have been used increasingly often despite their poor performance.
author2 Nanyang Business School
author_facet Nanyang Business School
Luo, Jiang
Qiao, Zheng
format Article
author Luo, Jiang
Qiao, Zheng
author_sort Luo, Jiang
title Individual commitment and team performance : evidence from mutual fund managers
title_short Individual commitment and team performance : evidence from mutual fund managers
title_full Individual commitment and team performance : evidence from mutual fund managers
title_fullStr Individual commitment and team performance : evidence from mutual fund managers
title_full_unstemmed Individual commitment and team performance : evidence from mutual fund managers
title_sort individual commitment and team performance : evidence from mutual fund managers
publishDate 2021
url https://hdl.handle.net/10356/148917
_version_ 1772825958479298560

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