External monitoring and returns to hedge fund activist campaigns
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DOI: 10.1002/rfe.1071
Abstract: Firms targeted by hedge fund activists experience significantly higher returns when there are fewer external monitors in place at the target firm. Using analyst coverage and institutional ownership as measures of external monitoring presence, we… read more here.
Keywords: hedge fund; monitoring returns; activist; external monitoring ... See more keywords
Hedge fund attributes, insider behavior, and IPO volatility
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Economics and Finance"
DOI: 10.1007/s12197-017-9396-8
Abstract: In this study, we use regression analysis to explore the influence of hedge fund and insider attributes on the volatility in the excess stock returns for 707 initial public offerings (IPOs). For these tests, we… read more here.
Keywords: hedge funds; volatility; hedge fund; hedge ... See more keywords
Hedge fund hold ’em
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Financial Markets"
DOI: 10.1016/j.finmar.2020.100616
Abstract: Abstract Hedge fund managers who do well in poker tournaments have better fund performance. This effect is stronger for tournaments with more entrants, larger buy-ins, larger cash prizes, and for managers who place higher or… read more here.
Keywords: hedge fund; fund hold; fund;
Are hedge fund managers skilled?
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DOI: 10.1016/j.gfj.2020.100574
Abstract: Abstract This study measures the skill of hedge fund (HF) managers by calculating the value added that they extract from capital markets. Applying bootstrapping to control for luck, we find that HF managers are skilled,… read more here.
Keywords: managers skilled; fund managers; value added; hedge fund ... See more keywords
Hedge Fund Politics and Portfolios
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DOI: 10.1016/j.jbankfin.2016.10.011
Abstract: Consistent with the well-documented relation between political orientation and psychological traits, hedge funds’ political orientations are related to their portfolio decisions. Relative to politically conservative hedge funds, politically liberal hedge funds exhibit a preference for… read more here.
Keywords: hedge funds; politics portfolios; fund politics; hedge fund ... See more keywords
Hedge Fund vs. Non-Hedge Fund Institutional Demand and the Book-to-Market Effect
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2018.04.021
Abstract: Recent studies have documented that institutional investors trade contrary to the predictions of the book-to market anomaly. We examine whether a prominent sub-group of institutional investors, namely hedge funds, differ from other institutions in terms… read more here.
Keywords: book market; hedge; hedge fund;
The impact of portfolio disclosure on hedge fund performance
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Financial Economics"
DOI: 10.1016/j.jfineco.2017.06.001
Abstract: Consistent with the argument that portfolio disclosure reveals trade secrets, a difference-in-differences estimation suggests a drop in fund performance after a hedge fund begins filing Form 13F as well as an increase in return correlations… read more here.
Keywords: portfolio disclosure; hedge fund; performance; fund ... See more keywords
Analysis of an optimal stopping problem arising from hedge fund investing
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Mathematical Analysis and Applications"
DOI: 10.1016/j.jmaa.2019.123559
Abstract: Abstract We analyze the optimal withdrawal time for an investor in a hedge fund with a first-loss or shared-loss fee structure, given as the solution of an optimal stopping problem on the fund's assets with… read more here.
Keywords: hedge fund; optimal stopping; fund; stopping problem ... See more keywords
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
Does the system reward investors for fraud risk? A clinical analysis
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DOI: 10.1108/jfc-05-2021-0103
Abstract: Purpose The purpose of this study is to show that despite the profound and commendable efforts of the SEC staff and many others in the legal system, aimed at combatting a billion-dollar hedge fund manager… read more here.
Keywords: risk; system; hedge fund; case ... See more keywords
Nonlinear hedge fund index clones?
Sign Up to like & getrecommendations! Published in 2022 at "Australian Journal of Management"
DOI: 10.1177/03128962221102184
Abstract: Cloning hedge fund indexes circumvents the many challenges associated with direct hedge fund investment. Theoretically, hedge fund indexes could have nonlinear exposures to the economic risk factors that drive their returns and may require nonlinear… read more here.
Keywords: index clones; nonlinear clones; fund; hedge fund ... See more keywords