... findings include that social comparison does not evoke motivation to compete unless incentives are offered and that increases in risk-taking depend both on what the other chooses and the incentives. It is common that companies in the mutual fund industry seek to improve investment managers' performance...

... the belief that risk taking is a winning strategy. Originality/value The results provide a broad framework for directions of research on social comparison processes in the mutual fund industry addressing the difficulties in implementing performance evaluations. Tommy Gärling can be contacted...