Skin or Skim? Inside Investment and Hedge Fund Performance
References
- (1999) The performance of hedge funds: Risk, return, and incentives. J. Finance 54(3):833–874.Crossref, Google Scholar
- (2009) Role of managerial incentives and discretion in hedge fund performance. J. Finance 64:2221–2256.Crossref, Google Scholar
- (2013) Inferring reporting-related biases in hedge fund databases from hedge fund equity holdings. Management Sci. 59:1271–1289.Link, Google Scholar
- (2014) Macroeconomic risk and hedge fund returns. J. Financial Econom. 114:1–19.Crossref, Google Scholar
- (2012) Systematic risk and the cross section of hedge fund returns. J. Financial Econom. 106:114–131.Crossref, Google Scholar
- (2020) The hedge fund industry is bigger (and has performed better) than you think. OFR Working paper, Office of Financial Research, Washington, DC.Google Scholar
- (2004) Mutual fund flows and performance in rational markets. J. Political Econom. 112:1269–1295.Crossref, Google Scholar
- (2017) Matching capital and labor. J. Finance 72:2467–2504.Crossref, Google Scholar
- (2008) Conditional return smoothing in the hedge fund industry. J. Financial Quant. Analysis 43:267–298.Crossref, Google Scholar
- (2009) Do hedge fund managers misreport returns? Evidence from the pooled distribution. J. Finance 64:2257–2288.Crossref, Google Scholar
- (2006) Good stewards, cheap talkers, or family men? The impact of mutual fund closures on fund managers, flows, fees, and performance. Rev. Financial Stud. 20:953–982.Crossref, Google Scholar
- (2008) Mandatory disclosure and operational risk: Evidence from hedge fund registration. J. Finance 63:2785–2815.Crossref, Google Scholar
- (2014) Incentives and endogenous risk taking: A structural view on hedge fund alphas. J. Finance 69:2819–2870.Crossref, Google Scholar
- (2008) Directors’ ownership in the US mutual fund industry. J. Finance 63:2629–2677.Crossref, Google Scholar
- (2010) Payoff complementarities and financial fragility: Evidence from mutual fund outflows. J. Financial Econom. 97:239–262.Crossref, Google Scholar
- (2004) Does fund size erode mutual fund performance? The role of liquidity and organization. Amer. Econom. Rev. 94:1276–1302.Crossref, Google Scholar
- (1997) Risk taking by mutual funds as a response to incentives. J. Political Econom. 105:1167–1200.Crossref, Google Scholar
- (2010) Mutual fund incubation. J. Finance 4:1581–1611.Crossref, Google Scholar
- (1973) Risk, return, and equilibrium: Empirical tests. J. Political Econom. 81(3):607–636.Crossref, Google Scholar
- (2004) Hedge fund benchmarks: A risk-based approach. Financial Anal. J. 60:65–80.Crossref, Google Scholar
- (2008) Hedge funds: Performance, risk, and capital formation. J. Finance 63:1777–1803.Crossref, Google Scholar
- (2020) Hedge fund franchises. Management Sci. 67(2):1199–1226.Google Scholar
- (2015) Money doctors. J. Finance 70:91–114.Crossref, Google Scholar
- (2012) The life cycle of hedge funds: Fund flows, size, competition, and performance. Quart. J. Finance 2:1250003.Crossref, Google Scholar
- (2004) An econometric model of serial correlation and illiquidity in hedge fund returns. J. Financial Econom. 74:529–609.Crossref, Google Scholar
- (2011) Information spillovers and performance persistence for hedge funds. J. Financial Econom. 101:1–17.Crossref, Google Scholar
- (2017) Are mutual fund managers paid for investment skill? Rev. Financial Stud. 31:715–772.Crossref, Google Scholar
- (2014) The strategic listing decisions of hedge funds. J. Financial Quant. Anal. 49:773–796.Crossref, Google Scholar
- (2019) The fix is in: Properly backing out backfill bias. Rev. Financial Stud. 32:5048–5099.Crossref, Google Scholar
- (2019) Investor concentration, flows, and cash holdings: Evidence from hedge funds. OFR Working paper, Office of Financial Research, Washington, DC.Google Scholar
- (2011) The Big Short: Inside the Doomsday Machine (Penguin Books, London).Google Scholar
- (2020) Share restrictions and investor flows in the hedge fund industry. Working paper, University of Massachusetts Amherst, Amherst, MA.Google Scholar
- (2003) How do family strategies affect fund performance? When performance-maximization is not the only game in town. J. Financial Econom. 67:249–304.Crossref, Google Scholar
- (2014) The separation of funds and managers: A theory of investment fund structure and regulation. Yale Law J. 123:1228–1287.Google Scholar
- (2009) Hedge Fund Agreements Line by Line, 2nd Edition: A User’s Guide to LLC Operating Contracts (Thomson Reuters, Eagan, MN).Google Scholar
- (2015) Skin in the game vs. skimming the game: Governance, share restrictions, and insider flows. J. Financial Quant. Anal. 50:1293–1319.Crossref, Google Scholar
- (2010) The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed it (Crown Currency, New York).Google Scholar
- (2013) On the high-frequency dynamics of hedge fund risk exposures. J. Finance 68:597–635.Crossref, Google Scholar
- (2015) Change you can believe in? Hedge fund data revisions. J. Finance 70:963–999.Crossref, Google Scholar
- (2009) Estimating standard errors in finance panel data sets: Comparing approaches. Rev. Financial Stud. 22:435–480.Crossref, Google Scholar
- (2018) Hedge fund incentives, management commitment and survivorship. Financial Marketing Portfolio Management 32:115–142.Crossref, Google Scholar
- (2013) Capacity constraints, investor information, and hedge fund returns. J. Financial Econom. 107:401–416.Crossref, Google Scholar
- (1997) The limits of arbitrage. J. Finance 52:35–55.Crossref, Google Scholar
- (2015) Spillover effects in mutual fund companies. Management Sci. 62:1472–1486.Link, Google Scholar
- (2008) Liquidity, investment style, and the relation between fund size and fund performance. J. Financial Quant. Anal. 43:741–767.Crossref, Google Scholar
- (2016) The optimal size of hedge funds: Conflict between investors and fund managers. J. Finance 71:1857–1894.Crossref, Google Scholar

