Financial Industry Affiliation and Hedge Fund Performance

Published Online:https://doi.org/10.1287/mnsc.2020.3864

References

  • Agarwal V, Daniel ND, Naik NY (2009) Role of managerial incentives and discretion in hedge fund performance. J. Finance 64(5):2221–2256.CrossrefGoogle Scholar
  • Agarwal V, Daniel ND, Naik NY (2011) Do hedge funds manage their reported returns? Rev. Financial Stud. 24(10):3282–3320.CrossrefGoogle Scholar
  • Agarwal V, Mullally K, Naik NY (2015) The economics and finance of hedge funds: A review of the academic literature. Foundations Trends Finance 10(1):1–111.CrossrefGoogle Scholar
  • Aggarwal RK, Jorion P (2010) The performance of emerging hedge funds and managers. J. Financial Econom. 96(2):238–256.CrossrefGoogle Scholar
  • Aragon GO (2007) Share restrictions and asset pricing: Evidence from the hedge fund industry. J. Financial Econom. 83(1):33–58.CrossrefGoogle Scholar
  • Baquero G, Ter Horst J, Verbeek M (2005) Survival, look-ahead bias, and persistence in hedge fund performance. J. Financial Quant. Anal. 40(3):493–517.CrossrefGoogle Scholar
  • Bertrand M, Mullainathan S (2003) Enjoying the quiet life? Corporate governance and managerial preferences. J. Political Econom. 111(5):1043–1075.CrossrefGoogle Scholar
  • Berzins J, Liu CH, Trzcinka C (2013) Asset management and investment banking. J. Financial Econom. 110(1):215–231.CrossrefGoogle Scholar
  • Bhattacharya U, Lee J, Pool V (2013) Conflicting family values in mutual fund families. J. Finance 68(1):173–200.CrossrefGoogle Scholar
  • Bollen NPB, Pool VK (2009) Do hedge fund managers misreport returns? Evidence from the pooled distribution. J. Finance 64(5):2257–2288.CrossrefGoogle Scholar
  • Bollen NPB, Pool VK (2012) Suspicious patterns in hedge fund returns and the risk of fraud. Rev. Financial Stud. 25(9):2674–2702.CrossrefGoogle Scholar
  • Brown S, Goetzmann W, Liang B, Schwarz C (2008) Mandatory disclosure and operational risk: Evidence from hedge fund registration. J. Finance 63(6):2785–2815.CrossrefGoogle Scholar
  • Cao C, Liang B, Lo AW, Petrasek L (2018) Hedge fund holdings and stock market efficiency. Rev. Asset Pricing Stud. 8(1):77–116.CrossrefGoogle Scholar
  • Dimmock SG, Gerken WC (2012) Predicting fraud by investment managers. J. Financial Econom. 105(1):153–173.CrossrefGoogle Scholar
  • Dimmock SG, Gerken WC, Graham N (2018) Is fraud contagious? Coworker influence on misconduct by financial advisors. J. Finance 73(3):1417–1450.CrossrefGoogle Scholar
  • Fecht F, Hackethal A, Karabulut Y (2018) Is proprietary trading detrimental to retail investors? J. Finance 73(3):1323–1361.CrossrefGoogle Scholar
  • Franzoni F, Giannetti M (2019) Financial conglomerate affiliated hedge funds: Risk taking behavior and liquidity provision. J. Financial Econom. 134(2):355–380.CrossrefGoogle Scholar
  • Fung W, Hsieh DA (2004) Hedge fund benchmarks: A risk-based approach. Financial Anal. J. 60(5):65–80.CrossrefGoogle Scholar
  • Fung W, Hsieh DA, Naik NY, Teo M (2020) Hedge fund franchises. Management Sci, ePub ahead of print August 6, https://doi.org/10.1287/mnsc.2019.3516.Google Scholar
  • Gaspar JM, Massa M, Matos P (2006) Favoritism in mutual fund families? Evidence on strategic cross-fund subsidization. J. Finance 61(1):73–104.CrossrefGoogle Scholar
  • Griffin JM, Xu J (2009) How smart are the smart guys? A unique view from hedge fund stock holdings. Rev. Financial Stud. 22(7):2531–2570.CrossrefGoogle Scholar
  • Hao (G)Q, Yan X(S) (2012) The performance of investment bank-affiliated mutual funds: Conflicts of interest or informational advantage? J. Financial Quant. Anal. 47(3):537–565.CrossrefGoogle Scholar
  • Ivashina V, Sun Z (2011) Institutional stock trading on loan market information. J. Financial Econom. 100(2):284–303.CrossrefGoogle Scholar
  • Jorion P, Schwarz C (2019) The fix is in: Properly backing out backfill bias. Rev. Financial Stud. 32(12):5048–5099.Google Scholar
  • Karpati B (2012) Enforcement priorities in the alternative space. Speech, December 19, Regulatory Compliance Association, New York.Google Scholar
  • Kosowski R, Naik N, Teo M (2007) Do hedge funds deliver alpha? A Bayesian and bootstrap analysis. J. Financial Econom. 84(1):229–264.CrossrefGoogle Scholar
  • Kumar N, Mullally K, Ray S, Tang Y (2020) Prime (information) brokerage. J. Financial Econom. 137(2):371–391.CrossrefGoogle Scholar
  • Liang B, Park H (2010) Predicting hedge fund failure: A comparison of risk measures. J. Financial Quant. Anal. 45(1):199–222.CrossrefGoogle Scholar
  • Loughran T, Ritter JR (1995) The new issues puzzle. J. Finance 50(1):23–51.CrossrefGoogle Scholar
  • Lu Y, Mitra D, Musto D, Ray S (2020) Can brands circumvent marketing regulations? Exploiting umbrella branding in financial markets. Marketing Sci. 39(1):71–91.Google Scholar
  • Massa M (2003) How do family strategies affect fund performance? When performance-maximization is not the only game in town. J. Financial Econom. 67(2):249–304.CrossrefGoogle Scholar
  • Massa M, Rehman Z (2008) Information flows within financial conglomerates: Evidence from the banks-mutual fund relationship. J. Financial Econom. 89(2):288–306.CrossrefGoogle Scholar
  • Massoud N, Nandy D, Saunders A, Song K (2011) Do hedge funds trade on private information? Evidence from syndicated lending and short-selling. J. Financial Econom. 99(3):477–499.CrossrefGoogle Scholar
  • Nanda V, Wang ZJ, Zheng L (2004) Family values and the star phenomenon: Strategies of mutual fund families. Rev. Financial Stud. 17(3):667–698.CrossrefGoogle Scholar
  • Riewe J (2015) Conflicts, conflicts everywhere. Speech, February 26, IA Watch 17th Annual IA Compliance Conf., Washington, DC.Google Scholar
  • Sialm C, Tham M (2016) Spillover effects in mutual fund companies. Management Sci. 62(5):1472–1486.LinkGoogle Scholar
  • Sun L, Teo M (2019) Public hedge funds. J. Financial Econom. 131(1):44–60.CrossrefGoogle Scholar
  • Teo M (2009) Does size matter in the hedge fund industry? Working paper, Singapore Management University, Singapore.Google Scholar
  • Yin C (2016) The optimal size of hedge funds: Conflict between investors and fund managers. J. Finance 71(4):1857–1894.CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.