{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,12,5]],"date-time":"2025-12-05T09:43:25Z","timestamp":1764927805100,"version":"3.46.0"},"reference-count":28,"publisher":"Institute for Operations Research and the Management Sciences (INFORMS)","issue":"12","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Management Science"],"published-print":{"date-parts":[[2025,12]]},"abstract":"<jats:p>To best utilize labor, companies need to match employees\u2019 skills with jobs that best fit those skills. Exploiting unique features of the mutual fund industry, we identify instances when this matching happens for fund managers and study its consequences. When fund managers are matched, they deliver a significantly higher risk-adjusted performance. Fund companies use this information to maximize company value by increasing assets under the management of these managers (i.e., assigning them to more and larger funds) and by collecting higher fees from these managers\u2019 funds. In addition, they make the expertise of these managers available to other managers of the fund company.<\/jats:p>\n                  <jats:p>This paper was accepted by Lukas Schmid, finance.<\/jats:p>\n                  <jats:p>Supplemental Material: The online appendix and data files are available at https:\/\/doi.org\/10.1287\/mnsc.2022.02805 .<\/jats:p>","DOI":"10.1287\/mnsc.2022.02805","type":"journal-article","created":{"date-parts":[[2025,4,9]],"date-time":"2025-04-09T11:14:51Z","timestamp":1744197291000},"page":"9936-9954","source":"Crossref","is-referenced-by-count":0,"title":["Finding Your Calling: Matching Skills with Jobs in the Mutual Fund Industry"],"prefix":"10.1287","volume":"71","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-7030-4136","authenticated-orcid":false,"given":"Gjergji","family":"Cici","sequence":"first","affiliation":[{"name":"University of Kansas, Lawrence, Kansas 66045"}]},{"given":"Mario","family":"Hendriock","sequence":"additional","affiliation":[{"name":"Department of Finance and Centre for Financial Research (CFR), University of Cologne, 50923 Cologne, Germany"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-7455-4044","authenticated-orcid":false,"given":"Alexander","family":"Kempf","sequence":"additional","affiliation":[{"name":"Department of Finance and Centre for Financial Research (CFR), University of Cologne, 50923 Cologne, Germany"}]}],"member":"109","reference":[{"key":"B1","doi-asserted-by":"publisher","DOI":"10.1111\/jofi.12607"},{"key":"B28","doi-asserted-by":"crossref","unstructured":"Berk JB, Green RC (2004) Mutual fund flows and performance in rational markets.\n                      J. Political Econom.\n                      112(6):1269\u20131295.","DOI":"10.1086\/424739"},{"key":"B2","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2015.05.002"},{"key":"B3","doi-asserted-by":"publisher","DOI":"10.1111\/jofi.12542"},{"key":"B4","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1997.tb03808.x"},{"key":"B5","doi-asserted-by":"publisher","DOI":"10.1111\/0022-1082.00130"},{"key":"B6","doi-asserted-by":"publisher","DOI":"10.1016\/j.jbankfin.2021.106310"},{"key":"B7","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/hhy019"},{"key":"B8","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/hhp057"},{"key":"B9","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2015.04.006"},{"key":"B10","doi-asserted-by":"publisher","DOI":"10.1016\/0304-405X(93)90023-5"},{"key":"B11","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2014.10.010"},{"key":"B12","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2013.11.003"},{"key":"B13","doi-asserted-by":"publisher","DOI":"10.1016\/j.finmar.2022.100767"},{"key":"B14","doi-asserted-by":"publisher","DOI":"10.1016\/S1057-0810(96)90006-2"},{"key":"B15","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2008.08.004"},{"key":"B16","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/hhx105"},{"key":"B20","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/hhq084"},{"key":"B17","doi-asserted-by":"publisher","DOI":"10.1086\/260808"},{"key":"B18","doi-asserted-by":"publisher","DOI":"10.1111\/j.1467-937X.2009.00535.x"},{"key":"B19","unstructured":"Kempf E, Manconi A, Spalt OG (2017) Learning by doing: The value of experience and the origins of skill for mutual fund managers. Working paper, Harvard Business School, Boston."},{"key":"B21","doi-asserted-by":"publisher","DOI":"10.1561\/104.00000115"},{"key":"B22","doi-asserted-by":"publisher","DOI":"10.1086\/261668"},{"key":"B23","doi-asserted-by":"publisher","DOI":"10.1086\/261276"},{"key":"B24","doi-asserted-by":"publisher","DOI":"10.1093\/restud\/rdt048"},{"key":"B25","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2020.06.005"},{"key":"B26","doi-asserted-by":"crossref","unstructured":"Xu Y (2021) Mutual fund managers\u2019 learning from senior colleagues\u2014capital raising ability versus active investment skill. Working paper, Aarhus University, Aarhus, Denmark.","DOI":"10.2139\/ssrn.3929527"},{"key":"B27","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2021.04.027"}],"container-title":["Management Science"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/pubsonline.informs.org\/doi\/pdf\/10.1287\/mnsc.2022.02805","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,12,5]],"date-time":"2025-12-05T09:40:07Z","timestamp":1764927607000},"score":1,"resource":{"primary":{"URL":"https:\/\/pubsonline.informs.org\/doi\/10.1287\/mnsc.2022.02805"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,12]]},"references-count":28,"journal-issue":{"issue":"12","published-print":{"date-parts":[[2025,12]]}},"alternative-id":["10.1287\/mnsc.2022.02805"],"URL":"https:\/\/doi.org\/10.1287\/mnsc.2022.02805","relation":{},"ISSN":["0025-1909","1526-5501"],"issn-type":[{"type":"print","value":"0025-1909"},{"type":"electronic","value":"1526-5501"}],"subject":[],"published":{"date-parts":[[2025,12]]}}}