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How Much Does Size Erode Mutual Fund Performance? A Regression Discontinuity Approach
Reuter, Jonathan - 2010
The level of diseconomies of scale in asset management has important implications for tests of manager skill and the expected level of performance persistence. To identify the causal impact of fund size on future returns, we exploit the fact that small differences in returns can cause discrete...
Persistent link: https://www.econbiz.de/10013138476
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Fund Performance, Managers’ Genuine Stock Selection Skills and Managerial Replacement : Evidence from the UK Unit Trust Industry
Zhang, Zhichao - 2010
managerial replacement. We find that managers with superior performance that is due to sample variation are more likely to be … dismissed than are ‘unlucky' managers indicating that many fund companies are not captivated by the ‘lucky' managers' extreme … performance and willing to give ‘unlucky' managers another chance. Furthermore, underperforming managers are more likely to be …
Persistent link: https://www.econbiz.de/10013149085
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What do mutual fund managers' private portfolios tell us about their skills?
Ibert, Markus - In: Journal of financial intermediation 53 (2023), pp. 1-12
Persistent link: https://www.econbiz.de/10014234560
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Deriving managerial skills by dissecting holding changes of mutual funds : evidence from China
Jun, Xiao; Ren, He; Sun, Ping-Wen - In: Pacific-Basin finance journal 68 (2021), pp. 1-21
Persistent link: https://www.econbiz.de/10013332516
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Unencumbered by style : why do funds change factor loadings and does it help?
Bai, Ting; Hilscher, Jens; Scherbina, Anna - 2024
-skill managers outperform their low-skill peers in the following month in terms of raw returns and alphas. This outperformance is …
Persistent link: https://www.econbiz.de/10014515889
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Hedge fund boards and the market for independent directors
Clifford, Christopher P.; Ellis, Jesse A.; Gerken, … - In: Journal of financial and quantitative analysis : JFQA 53 (2018) 5, pp. 2067-2101
Persistent link: https://www.econbiz.de/10011959072
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Hedge Fund Boards and the Market for Independent Directors
Clifford, Christopher P. - 2017
We provide the first examination of hedge fund boards and their directors. The majority of directorships are held by extremely busy independent directors. These directors are sought after by funds because they have more reputational capital at stake, making them independent and credible monitors...
Persistent link: https://www.econbiz.de/10012972390
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Indirect incentives of hedge fund managers
Lim, Jongha; Sensoy, Berk A.; Weisbach, Michael S. - In: The journal of finance : the journal of the American … 71 (2016) 2, pp. 871-918
Persistent link: https://www.econbiz.de/10011482355
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Reviewing the hedge funds literature I : hedge funds and hedge funds' managerial characteristics
El Kalak, Izidin; Azevedo, Alcino; Hudson, Robert - In: International review of financial analysis 48 (2016), pp. 85-97
Persistent link: https://www.econbiz.de/10011624404