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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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Indirect incentives of hedge fund managers
Lim, Jongha; Sensoy, Berk A.; Weisbach, Michael S. - 2013
Persistent link: https://www.econbiz.de/10009733351
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Indirect incentives of hedge fund managers
Lim, Jongha; Sensoy, Berk A.; Weisbach, Michael S. - 2013
direct incentives from incentive fees and managers' personal stakes in the fund. Combining direct and indirect incentives …
Persistent link: https://www.econbiz.de/10009724568
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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10012459758
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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10013084738
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Measuring institutional investors' skill from their investments in private equity
Cavagnaro, Daniel R.; Sensoy, Berk A.; Wang, Yingdi; … - 2016
Persistent link: https://www.econbiz.de/10011539712
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Measuring institutional investors' skill from their investments in private equity
Cavagnaro, Daniel R.; Sensoy, Berk A.; Wang, Yingdi; … - 2018
Using a large sample of institutional investors' investments in private equity funds raised between 1991 and 2011, we estimate the extent to which investors' skill affects their returns. Bootstrap analyses show that the variance of actual performance is higher than would be expected by chance,...
Persistent link: https://www.econbiz.de/10011962225
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Understanding corporate governance through learning models of managerial competence
Hermalin, Benjamin E.; Weisbach, Michael S. - 2014
Persistent link: https://www.econbiz.de/10010356253
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Understanding corporate governance through learning models of managerial competence
Hermalin, Benjamin E.; Weisbach, Michael S. - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10010353296
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Understanding Corporate Governance Through Learning Models of Managerial Competence
Hermalin, Benjamin E. - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10012458636