management service they receive and the financial performance of commercial real estate. Design/methodology/approach The study … satisfaction at each property to assess whether superior property management generates outperformance (“positive alpha”). The study … permitted access to the financial performance results. This meant that the properties belong to only three landlords, all UK …

We examine the factors influencing published estimates of hedge fund performance. Using a sample of 1,019 intercept … characteristics and research design choices in the underlying studies. Estimates of current performance implied by best practice … management and performance fees charged by hedge funds. We also document how reported performance estimates vary with hedge fund …

CAPM alpha explains hedge fund flows better than alphas from more sophisticated models. This suggests that investors … pool together sophisticated model alpha with returns from exposures to traditional (except for the market) and exotic risks …. We decompose performance into traditional and exotic risk components and find that while investors chase both components …

factor investing on beyond-market-risk factors, Fake Alpha strategies based on factor investing look like skill from the …

predicts stock returns and it subsumes the effect of frictions on expected returns as expected theoretically. The sizable alpha …

entrenchment motives. Design/methodology/approach: We calculate the average monthly risk-adjusted return (alpha) of each portfolio … the largest employee ownership earns 1.32% of alpha per month. Further, we provide evidence that portfolios with higher …

Ratios that indicate the statistical significance of a fund's alpha typically appraise its performance. A growing … or trading frequently can significantly enhance performance ratios. This paper derives the performance …-maximizing strategy - a variant of buy-write - and the least upper bound on such performance enhancement, thereby showing that if common …