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We examine the determinants and consequences of changes in hedge fund fee structures. We show that fee changes are asymmetric with much greater incidence of fee increases compared to fee decreases. We find that managers of younger and smaller funds are more likely to increase fees after good...
Persistent link: https://www.econbiz.de/10009006784
Using a novel dataset that tracks daily changes in hedge fund fee structure, we examine the determinants and consequences of changes in the three components of the fee structure, namely the management fee, incentive fee, and the high-water mark provision. We find that funds respond symmetrically...
Persistent link: https://www.econbiz.de/10013109004
This study investigates the pricing regime choices between per-flight and/or per-passenger charges for international … airports. Each country may choose (i) mix charges for per-flight and per-passenger charges, (ii) per-flight charges only, (iii …) per-passenger charges only, and (iv) marginal-operating-cost pricing for each type of charge (Duo-MOC pricing). Each …
Persistent link: https://www.econbiz.de/10014080659
-based charges distort production decisions and lead to outcomes such as high-grading and premature mine closure. We argue that it is …
Persistent link: https://www.econbiz.de/10011458141
Persistent link: https://www.econbiz.de/10011485492
The move from traditional to open-access journals—which charge no subscription fees, only submission fees—is gaining support in academia. We analyze a two-sided-market model in which journals cannot commit to subscription fees when authors (who prefer low subscription fees because this...
Persistent link: https://www.econbiz.de/10012903350
Persistent link: https://www.econbiz.de/10011891393
The move from traditional to open-access journals--which charge no subscription fees, only submission fees--is gaining support in academia. We analyze a two-sided-market model in which journals cannot commit to subscription fees when authors (who prefer low subscription fees because this boosts...
Persistent link: https://www.econbiz.de/10012456455