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Kempf, ElisabethRemove Kempf, Elisabeth →

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  • May 2017
  • Article

Distracted Shareholders and Corporate Actions

By: Elisabeth Kempf, Alberto Manconi and Oliver Spalt
Investor attention matters for corporate actions. Our new identification approach constructs firm-level shareholder "distraction" measures, by exploiting exogenous shocks to unrelated parts of institutional shareholders' portfolios. Firms with "distracted" shareholders... View Details
Keywords: Investors; Business and Shareholder Relations; Executive Compensation; Stocks; Mergers and Acquisitions
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  • 2017
  • Working Paper

Learning by Doing: The Value of Experience and the Origins of Skill for Mutual Fund Managers

By: Elisabeth Kempf, Alberto Manconi and Oliver Spalt
Learning by doing matters for professional investors. We develop a new methodology to show that mutual fund managers outperform in industries where they have obtained experience on the job. The key to our identification strategy is that we look "inside" funds and... View Details
Keywords: Fund Managers; Experience and Expertise; Performance; Forecasting and Prediction
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