Performance fees that are designed to incentivize money managers to exert more effort may also distort a manager's risk …

examine the effects of variations on a compensation structure that includes a percentage management fee, a performance …

During the recent financial crisis, capital flow to hedge funds plunged, and competition among hedge fund managers … intensified. This leads to a transfer of bargaining power from hedge fund managers to investors when negotiating fund managers … managers during crisis periods. Our model predicts that when bargaining power is on the investors' side, hedge fund managers …

Indirect incentives exist in the money management industry when good current performance increases future inflows of … direct incentives from incentive fees and managers' personal stakes in the fund. Combining direct and indirect incentives … ourunderstanding of incentives in the asset management industry …