Institutional investment flows and the determinants of top fund manager turnover

Elor Dishi*, David R. Gallagher, Jerry T. Parwada

*Corresponding author for this work

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

This study examines how the termination of superannuation investment mandates contributes to the departure of top fund managers in companies delegated the portfolio management role. Terminations of superannuation plan mandates increase the probability of a fund company changing the responsible fund manager. Objective-adjusted returns are also significant managerial turnover considerations. These results illustrate that significant losses of superannuation fund clients act as an external control mechanism in the investment management industry that complements internal managerial performance measures.

Original languageEnglish
Pages (from-to)243-266
Number of pages24
JournalAccounting and Finance
Volume47
Issue number2
DOIs
Publication statusPublished - Jun 2007
Externally publishedYes

Fingerprint Dive into the research topics of 'Institutional investment flows and the determinants of top fund manager turnover'. Together they form a unique fingerprint.

  • Cite this