Appears in: ICERI2022 Proceedings Publication year: 2022Pages: 2926-2933ISBN: 978-84-09-45476-1ISSN: 2340-1095doi: 10.21125/iceri.2022.0723Conference name: 15th annual International Conference of Education, Research and InnovationDates: 7-9 November, 2022Location: Seville, Spain

Investment consultants market their services by claiming fund manager recommendations add significant value. Using nonpublic data sourced from investment and the UK regulator, we find no such evidence, but identify several practices that explain exaggerated claims: comparisons to benchmarks instead of peers, inclusion simulated backfilled returns, use horizons allow losers be forgotten, unexpla...

Despite qualitative evidence suggesting that changes in informal hierarchy strength likely impact performance, have received little theoretical or empirical attention. We address this by extending structural adaptation theory (SAT) to develop and test a model of why how those performance. Building on SAT’s principle teams can become more ordered following stimulation, we propose pressure subseq...