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Best Practices for Defined Contribution Plans
In: Northeastern U. D'Amore-McKim School of Business Research Paper No. 4559998
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The Worst of Both Worlds? Dual-Registered Investment Advisers
In: Northeastern U. D'Amore-McKim School of Business Research Paper No. 3360537
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Getting the Vote: Do School Bond Issuances and Outcomes Depend on Ballot Disclosures?
In: Northeastern U. D'Amore-McKim School of Business Research Paper No. 4584453
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Public Bond Issuance and Education Inequality
In: Northeastern U. D'Amore-McKim School of Business Research Paper No. 4099121
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The performance of female hedge fund managers
In: Review of financial economics: RFE, Band 29, Heft 1, S. 23-36
ISSN: 1873-5924
AbstractUsing data for the period 1994–2013, we examine the return and risk‐taking behavior of hedge funds having at least one female portfolio manager and funds that have all female portfolio managers. Funds with all female managers perform no differently than all male‐managed funds and have similar risk profiles. For single‐style funds, those with mixed teams of both genders underperform male‐only funds on both a raw and risk‐adjusted basis, although mixed funds incur less risk and their Sharpe ratios do not differ. For funds of funds, both all‐female and mixed funds have similar performance to male‐managed funds. We then consider the failure rate across all fund styles. Funds with at least one female manager fail at higher rates, driven by difficulty in raising capital—these funds are smaller and are less likely to be closed to new investment. Surviving funds with at least one female manager have better performance than male‐managed surviving funds, consistent with the idea that female managers need to perform better for their funds to survive. Yet, female‐managed surviving funds have fewer assets under management than surviving male‐managed funds. Using media mentions as a proxy for investor interest, female‐managed funds receive proportionately less attention. Our results suggest that there are no inherent differences in skill between female and male managers, but that only the best performing female managers manage to survive.
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Working paper
Crises, Liquidity Shocks, and Fire Sales at Commercial Banks
In: Financial Management (Forthcoming)
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How Does Past Experience Impact Hedge Fund Activism? forthcoming, Journal of Financial and Quantitative Analysis
In: Northeastern U. D'Amore-McKim School of Business Research Paper No. 2727371
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Working paper
Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities
In: NBER Working Paper No. w19984
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Working paper
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Executives vs. Chatbots: Unmasking Insights through Human-AI Differences in Earnings Conference Q&A
In: Northeastern U. D'Amore-McKim School of Business Research Paper No. 4480056
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