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Indirect incentives of hedge fund managers
Lim, Jongha; Sensoy, Berk A.; Weisbach, Michael S. - In: The journal of finance : the journal of the American … 71 (2016) 2, pp. 871-918
Persistent link: https://www.econbiz.de/10011482355
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Indirect incentives of hedge fund managers
Lim, Jongha; Sensoy, Berk A.; Weisbach, Michael S. - 2013
Persistent link: https://www.econbiz.de/10009733351
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Indirect incentives of hedge fund managers
Lim, Jongha; Sensoy, Berk A.; Weisbach, Michael S. - 2013
direct incentives from incentive fees and managers' personal stakes in the fund. Combining direct and indirect incentives …
Persistent link: https://www.econbiz.de/10009724568
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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10012459758
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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10013084738
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CEO investment cycles
Pan, Yihui; Wang, Tracy Yue; Weisbach, Michael S. - In: The review of financial studies 29 (2016) 11, pp. 2955-2999
Persistent link: https://www.econbiz.de/10011619873
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Ceo investment cycles
Pan, Yihui; Wang, Tracy Yue; Weisbach, Michael S. - 2013
Persistent link: https://www.econbiz.de/10010126685
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CEO investment cycles
Pan, Yihui; Wang, Tracy Yue; Weisbach, Michael S. - 2013
This paper documents the existence of a CEO Investment Cycle, in which disinvestment decreases over CEO tenure while investment increases, leading to “cyclical” firm growth in assets as well as in employment. The estimated variation in investment rate over the CEO cycle is of the same order...
Persistent link: https://www.econbiz.de/10009782415
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CEO Investment Cycles
Pan, Yihui - 2013
This paper documents the existence of a CEO Investment Cycle, in which firms disinvest early in a CEO's tenure and increase investment subsequently, leading to "cyclical" firm growth in assets as well as in employment over CEO tenure. The CEO investment cycle occurs for both firings and...
Persistent link: https://www.econbiz.de/10012459331
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CEO Investment Cycles
Pan, Yihui - 2013
This paper documents the existence of a CEO Investment Cycle, in which firms disinvest early in a CEO's tenure and increase investment subsequently, leading to "cyclical" firm growth in assets as well as in employment over CEO tenure. The CEO investment cycle occurs for both firings and...
Persistent link: https://www.econbiz.de/10013077654