A common risk that plan sponsors face is incorrectly terminating an effective strategy. Even funds that outperform over the long term can experience subperiods of short-term underperformance. This paper uses a sample of 525 institutional large-cap equity strategies to analyze the likelihood of...

We examine how the motivation behind the launch of a mutual fund is associated with the fund's subsequent performance. We find that mutual funds have incentives to cater to investor sentiment to attract assets under management by launching trendy mutual funds. The incentives to launch trendy...

In this paper, we re-examine the findings of Strebulaev and Yang (2014) related to zero leverage firms when applied to bottom quintile of small firms. For this paper, we eliminate the 10 million in Total Assets minimum to be included in the Strebulaev and Yang (2014) sample. This change would...