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The Life Cycle of Hedge Funds : Fund Flows, Size, Competition, and Performance
Getmansky Sherman, Mila - 2012
liquidating in this category increases. We interpret this finding as a result of competition among hedge funds in a category. As … competition increases, marginal funds are more likely to be liquidated than funds that deliver superior risk-adjusted returns. We …, competition, market impact, and favorable category positioning that are modeled in the paper. Hedge funds in capacity constrained …
Persistent link: https://www.econbiz.de/10013105104
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Hedge fund performance
Nagy, Istvan - 2013
Persistent link: https://www.econbiz.de/10010237136
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The Performance Life Cycle of Hedge Funds : Can Investors Achieve Lasting Performance?
Gao, Chao - 2019
We examine the performance life cycle of hedge funds. Performance declines with age are pervasive, not just for the average fund, but also for past winners and for funds with characteristics that predict cross-sectional returns. Fund growth and decreasing performance incentives appear to...
Persistent link: https://www.econbiz.de/10012899455
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The performance life cycle of hedge funds : can investors achieve lasting performance?
Gao, Chao; Haight, Timothy D.; Yin, Chengdong - In: The journal of portfolio management : JPM 48 (2022) 5, pp. 189-217
Persistent link: https://www.econbiz.de/10013176845
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Can the market identify prosperous activist engagements? : evidence from announcement and long-term buy-and-hold returns
Hartmann, Jochen; Pelster, Matthias; Sievers, Sönke - In: The quarterly review of economics and finance : journal … 89 (2023), pp. 174-187
Persistent link: https://www.econbiz.de/10014429606
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Industry herding by hedge funds
Caglayan, Mustafa O.; Celiker, Umut; Sonaer, Gokhan - In: The European journal of finance 27 (2021) 18, pp. 1887-1907
Persistent link: https://www.econbiz.de/10013373210
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Hedge fund alphas : do they reflect managerial skills or mere compensation for liquidity risk bearing?
Gibson, Rajna; Wang, Songtao - 2008
This article analyzes the effect of liquidity risk on the performance of various hedge fund portfolio strategies. Similarly to Avramov et al. (2007), we find that, before accounting for the effect of liquidity risk, hedge fund portfolios that incorporate predictability in managerial skills...
Persistent link: https://www.econbiz.de/10003966170
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Mutual fund herding in response to hedge fund herding and the impacts on stock prices
Jiao, Yawen; Ye, Pengfei - In: Journal of banking & finance 49 (2014), pp. 131-148
Persistent link: https://www.econbiz.de/10010508058
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Institutional Investors and Hedge Fund Activism
Kedia, Simi - 2020
Hedge fund activists have ambiguous relationships with the institutional shareholders in their target firms. While some support their activities, others counter their actions. Due to their relatively small holdings in target firms, the activists typically need the cooperation of other...
Persistent link: https://www.econbiz.de/10012838812
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Alpha-Beta-Churn of Equity Picks by Institutional Investors and the Robust Superiority of Hedge Funds
Chung, Richard - 2015
The empirical literature on investment performance suggests that only hedge funds among institutional investors have delivered consistent superior performance. We examine whether this stylized fact holds when we narrow focus to long-equity holdings. In our sample period of 1997-2006, the...
Persistent link: https://www.econbiz.de/10013017566