performance of hedge funds both in the cross-section and over time. We measure uncertainty about volatility of the market …-taking incentives arising from performance-based compensation of hedge funds. …

. The superior performance of MS funds continues to hold even when we control for fund characteristics such as size … MS funds and FOFs can co-exist in equilibrium in view of the significant differential in performance? We suggest that … ability in MS funds may be the driving force behind their superior performance relative to FOFs. …

This paper investigates the impact of work group diversity on performance. Analyzing a uniquely large sample of … management teams from the U.S. mutual fund industry we find that the influence of diversity on performance depends on the … dimension of diversity that is analyzed. Informational diversity has a positive impact on performance, which is driven by tenure …