We find a negative relation between hedge fund manager’s personal income tax rates and fund performance. Using changes … in tax deferral regulation or state-level tax rates suggest causality in the tax-performance relation. Managers are less … disincentivizing managers to engage in more demanding acquisition and processing of information. However, higher incentives from …

Dieses Papier untersucht vier Themenbereiche: Erstens werden die Determinanten der Netto-Zuflüsse in Hedgefonds … untersucht. Zweitens betrachten wir die Anreize für das Management von Hedgefonds. Drittens untersuchen wir das Verhalten von …

managers simultaneously manage multiple funds. We show that wellperforming managers multitask either by taking over poorly … performing funds within fund companies (i.e., acquired funds) or by launching new funds. We find that funds managed by managers …

We examine the determinants and consequences of mutual fund managers simultaneously managing multiple funds. Well …-performing managers multitask by taking over poorly performing funds or launching new funds. Subsequent to multitasking, funds run by … managers prior to multitasking (i.e., incumbent funds) experience performance deterioration while the performance of the …

between managers and investors while consequences of fee changes reflect the opportunistic behavior of managers in …

asymmetric with much greater incidence of fee increases compared to fee decreases. We find that managers of younger and smaller … findings are consistent with opportunistic behavior of emerging fund managers in expropriating surplus from their investors. …