We compare fund flows and asset valuations of bond mutual funds whose managers concurrently manage portfolios with … performance-based fees and those whose managers do not. We find that bond mutual funds whose managers concurrently manage …

In their seminal paper on bond fund performance, Blake, Elton and Gruber (1993) state that survivorship bias is … unimportant for this market segment. Many bond fund studies have since been published without treating survivorship bias despite … disappearance of bond funds comprehensively. As key determinants we identify fund size and flows. Compared to equity funds, returns …

What are the economic determinants of the level and volatility of the second moments of stock and bond returns? We …-1997 change in the stock-bond covariance. Also, the second moments of risk premium news explain most of the variance of the …

We analyze whether bond investors price tail risk exposures of financial institutions using a comprehensive sample of … bond issuances by U.S. financial institutions. Although primary bond yield spreads increase with an institutions' own tail … moral hazard in bond markets and weaken market discipline …