This paper shows that conflicts of interest may exist in cases where a hedge fund manager starts a mutual fund but not in the opposite case. We compare performance, asset flows, and risk incentives to establish several key differences between these two scenarios: First, prior to concurrent...

We analyze gains from intercorporate sales of mutual fund subsidiaries, using mandated SEC disclosures to assess the performance of mutual funds transferred by these transactions. Sellers are financial conglomerates (banks) using equity-based deals to transfer poorly performing funds to highly...

In traditional PDRE (pulse detonation rocket engines), mechanical valves are used for periodic supply control and a purge process is widely used to form a buffer zone to prevent fresh fuel-oxidizer mixture from pre-ignition. However, both of them increase hardware complexity and limit increase...

To measure the propulsive performance of a high-frequency PDRE (pulse detonation rocket engine), an experimental facility was established. Utilizing the valveless mode, the PDRE was operated without the purge process at a maximum operating frequency of 110 Hz successfully. In this study,...

I investigate the role odd lot trades play in equity markets, and how this role changes over four periods: 2005, 2007, 2010, and 2012. In each of these years, I examine the determinants, price contribution, and characteristics of odd lot trading. I find that odd lot proportions are increasing,...

Kosowski, Timmermann, Wermers, and White (2006) find that certain growth-oriented fund managers have substantial skill but do not stipulate the particular skills that they possess. We examine in detail the style-timing abilities of 3,181 US growth-oriented equity mutual funds over the period...

Using an intraday transaction dataset with trader identity, we study foreign and domestic investors' trading activities and investment performance ahead of open-ending events of Taiwanese closed-end funds. Simply buying the funds at a discount and holding until open-ending generates large...

Recent studies suggest that certain growth-oriented fund managers have substantial skill but do not stipulate the particular skills that they possess. We examine in detail the style-timing abilities of growth-oriented equity mutual funds over the period from 1993 to 2006. We find that an...