Student or educator? Sign up with your school email and get 6 months of Pro free.
CoChat
Sign Up
Cited by 530

The DOI matches its Crossref record; 37 of the 37 references it cites were found in a registry or an index.

Time‐Varying Fund Manager Skill

KACPERCZYK, MARCIN, NIEUWERBURGH, STIJN VAN, VELDKAMP, LAURA·2014·The Journal of Finance
DOI 10.1111/jofi.12084
Open this paper in CoChat — free account

Abstract

We propose a new definition of skill as general cognitive ability to pick stocks or time the market. We find evidence for stock picking in booms and market timing in recessions. Moreover, the same fund managers that pick stocks well in expansions also time the market well in recessions. These fund managers significantly outperform other funds and passive benchmarks. Our results suggest a new measure of managerial ability that weighs a fund's market timing more in recessions and stock picking more in booms. The measure displays more persistence than either market timing or stock picking alone and predicts fund performance.

Overview

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Integrity signals

Registry

Crossref · 10.1111/jofi.12084

Cites

37 of 37 references verified0 citation errors · 0 not checkable

Statistics

Verification

Claims the paper makes

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Self-check

Percentages, sums and reported differences re-computed from the paper’s own numbers.

The self-check needs the paper’s full text.

Citations

Cites

Show all 37 references

Cited by

See all 530

Metadata

Authors
KACPERCZYK, M., NIEUWERBURGH, S. V., & VELDKAMP, L.
Venue
The Journal of Finance
Publisher
Wiley
Published
2014-07-18
Volume
69
Issue
4
Pages
1455-1484
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.12084
OpenAlex
W2738776643
Cited by
530
References
37
FWCI
43.04
Type
journal article
Language
en
Open access
closed

About these checks

Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.

Statistics and arithmetic are recomputed, not judged.

Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.

What counts as a claim ›How we measure confidence ›How we check this ›

Are you an author, or do you see a problem with this page? Request a review

How to cite

Cite CoChat for the checks on this page, and the paper for its own findings.

This page
CoChat. (2026). Citation check: Time‐Varying Fund Manager Skill. https://app.cochat.ai/papers/10.1111/jofi.12084
The paper
KACPERCZYK, M., NIEUWERBURGH, S. V., & VELDKAMP, L. (2014). Time‐Varying Fund Manager Skill. The Journal of Finance. https://doi.org/10.1111/jofi.12084

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.