Funding Liquidity Risk and the Dynamics of Hedge Fund Lockups
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DOI: 10.1017/s0022109020000393
Abstract: Abstract We exploit the expiring nature of hedge fund lockups to create a new measure of funding liquidity risk that varies within funds. We find that hedge funds with lower funding risk generate higher returns,… read more here.
Keywords: liquidity risk; fund lockups; risk; funding liquidity ... See more keywords