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~institution:"National Bureau of Economic Research"
~institution:"W. Kohlhammer GmbH"
~person:"Del Guercio, Diane"
~subject:"Investment Fund"
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Mutual Fund Performance and the Incentive to Generate Alpha
Del Guercio, Diane
-
2011
find that flows chase risk-adjusted returns, and that funds respond by investing more in active
management
. Importantly …
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