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market participants use to isolate managers' idiosyncratic performance-chosen by boards to evaluate managers. Among firms …
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Suppose the value of a firm is endogenously determined by a manager's costly effort. We call this manager a distinguished player if he also can trade shares of the firm on a market. Arbitrage-free asset pricing theory suggests that the equilibrium market price reflects the value increasing...
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We show that fund families allocate their fund managers to different market segments such that their skill is rewarded … she works. Even skilled managers can generate alpha only if the market segment is inefficient. Fund families take this … relation between skill and inefficiency into account and allocate their best managers to the least efficient market segment …
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new regulations means for managers and investors. Profiles 10 highly successful hedge fund managers Addresses the Madoff …
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