This article characterizes the systematic risk exposures of hedge funds using buy-and-hold
and option-based strategies. Our results show that a large number of equity-oriented hedge …

This paper studies the “confidential holdings” of institutional investors, especially hedge funds,
where the quarter‐end equity holdings are disclosed with a delay through amendments to …

We provide a rationale for window dressing wherein investors respond to conflicting signals
of managerial ability inferred from a fund's performance and disclosed portfolio holdings. We …

Using a comprehensive hedge fund database, we examine the role of managerial incentives
and discretion in hedge fund performance. Hedge funds with greater managerial incentives…

We develop a new systematic tail risk measure for equity-oriented hedge funds to examine
the impact of tail risk on fund performance and to identify the sources of tail risk. We find that …

The risk–return characteristics, risk exposures, and performance persistence of various hedge
fund strategies remains an area of interest to alternative asset investors. Using a database …

The doubling of microprocessor performance every three years has been the result of two
factors: more transistors per chip and superlinear scali ng of the processor clock with …

Since hedge funds specify significant lock-up periods, we investigate persistence in the
performance of hedge funds using a multi-period framework in which the likelihood of observing …

The ongoing pandemic coronavirus disease 19 (COVID-19) caused by the severe acute
respiratory syndrome coronavirus 2 (SARS-CoV-2) is a matter of global concern. Environmental …

Background Global randomised controlled trials of the anti-IL-6 receptor antibody tocilizumab
in patients admitted to hospital with COVID-19 have shown conflicting results but potential …