This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of …

greater risk. By exploiting the enactment of the American Taxpayer Relief Act 2012 as an exogenous tax shock, we observe that … co-investing fund managers increase risk-taking by 8%. Specifically, these managers adjust their portfolios by investing …

particular, we investigate the extent to which a spillover of risk among hedge funds through redemptions and failures of other … funds has affected the probability of fund failure. We find that risk spillover is significantly related to the failure … within the same investment style are adversely affected through both channels of risk spillover. In addition, we find that …

We use a unique and comprehensive data set on open-end real estate funds in Germany to study a liquidity crisis that …