本文基于社会关系网络理论，构建开放式股票型基金的基金经理和上市公司高管的校友关系矩阵，计算其网络中心度指标，比较研究海外留学归国的基金经理和非留学基金经理各自的校友关系网络对基金业绩的影响差异。结果表明：在我国关系型社会中，校友关系能够给基金业绩带来正向影响，基金经理的校友网络中心度越高，基金业绩越好。海外留学归国的基金经理并没有导致更好的基金业绩表现，其校友关系给基金业绩带来的正向影响弱于非留学基金经理。

本研究创新探讨了是否具有海外留学经历的校友关系对基金业绩带来的差异化影响，丰富拓展了社会关系网络对基金业绩影响的研究，也补充了社会文化影响经济活动的理论文献。同时，本研究对投资者评估基金经理能力、合理选择基金，基金公司合理配置人力资源、选拔培养优秀基金经理有理论指导意义。

Based on the perspective of social relationship network, this paper constructs an alumni relationship matrix for fund managers in open-ended stock funds and executives of listed companies and calculate their network centrality indicators. It compares the impact of alumni relationship networks between overseas returnees and local fund managers on fund performance. The results show that in China's relational society, alumni relationships have a positive impact on fund performance. The higher the centrality of fund managers' alumni networks, the better their managed fund performance. Fund managers returning from overseas studies don’t bring better fund performance, and their alumni relationships have a weaker positive impact on fund performance than local fund managers.
This study innovatively explores the differential impact of alumni relationships with or without overseas study experience on fund performance, enriching and expanding the research on the impact of social relationship networks on fund performance, and supplementing theoretical literature on the impact of social and cultural factors on economic activities. At the same time, this study has theoretical guidance significance for investors to evaluate the ability of fund managers and select funds reasonably, for fund companies to allocate human resources reasonably and select and cultivate excellent fund managers.