Is it who you know or what you know? Evidence from ipo allocations and mutual fund performance

• Main Authors: Hwang, Chuan-Yang, Titman, Sheridan, Wang, Yuxi
• 其他作者: Nanyang Business School
• 格式: Article
• 語言: English
• 出版: 2019
• 主題: IPO Allocations; Robustness Check; DRNTU::Business::Operations management
• 在線閱讀: https://hdl.handle.net/10356/81288; http://hdl.handle.net/10220/47458

Mutual fund managers with degrees from elite universities tend to outperform their counterparts from less elite universities. We show that the better performance of elite graduates is generated from their better connections with underwriters that facilitate allocations to underpriced initial public...