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The impact of work group diversity on performance: Large sample evidence from the mutual fund industry

  • Bär, Michaela
  • Niessen, Alexandra
  • Ruenzi, Stefan

This paper investigates the impact of work group diversity on performance. Analyzing a uniquely large sample of management teams from the U.S. mutual fund industry we find that the influence of diversity on performance depends on the dimension of diversity that is analyzed. Informational diversity has a positive impact on performance, which is driven by tenure diversity as well as educational diversity. Social category diversity has a negative impact on performance, which is mainly driven by gender diversity while age diversity has no strong impact. Our results have important implications for the optimal composition of work groups and for investment strategies of fund investors.

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Paper provided by University of Cologne, Centre for Financial Research (CFR) in its series CFR Working Papers with number 07-16.

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Date of creation: 2007
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Handle: RePEc:zbw:cfrwps:0716
Contact details of provider: Postal: 0221 / 470 5607
Phone: 0221 / 470 5607
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Web page: http://cfr-cologne.de/english/version06/html/home.php
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  1. Prather, Larry J. & Middleton, Karen L., 2002. "Are N+1 heads better than one?: The case of mutual fund managers," Journal of Economic Behavior & Organization, Elsevier, vol. 47(1), pages 103-120, January.
  2. Dora L. Costa & Matthew E. Kahn, 2003. "Cowards And Heroes: Group Loyalty In The American Civil War," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 519-548, May.
  3. Niessen, Alexandra & Ruenzi, Stefan, 2007. "Sex matters: Gender differences in a professional setting," CFR Working Papers 06-01, University of Cologne, Centre for Financial Research (CFR).
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