Horst, Jenke Ter; Verbeek, Marno - In: Review of Finance 11 (2007) 4, pp. 605-632
A wide range of empirical biases hampers hedge fund databases. In this paper we focus upon survival-related biases and disentangle look-ahead biases due to self-selection of funds and due to fund termination. Self-selection arises because funds voluntarily report their information to data...