Economics Faculty Database
Economics
Arts & Sciences
Duke University

 HOME > Arts & Sciences > Economics > Faculty    Search Help Login pdf version printable version 

Publications [#266729] of David A. Hsieh

Journal Articles

  1. Edelman, D; Fung, W; Hsieh, DA, Exploring uncharted territories of the hedge fund Industry: Empirical characteristics of mega hedge fund firms, Journal of Financial Economics, vol. 109 no. 3 (September, 2013), pp. 734-758, Elsevier BV, ISSN 0304-405X [doi]
    (last updated on 2020/02/22)

    Abstract:
    This paper investigates mega hedge fund management companies that collectively manage over 50% of the industry's assets, incorporating previously unavailable data from those that do not report to commercial databases. We find similarities among mega firms that report performance to commercial databases compared with those that do not. We show that the largest divergences between the performance of reporting and nonreporting mega firms can be traced to differential exposure to credit markets. Thus, the performance of hard-to-observe mega firms can be inferred from observable data. This conclusion is robust to delisting bias and the presence of serially correlated returns. © 2013 Elsevier B.V.


Duke University * Arts & Sciences * Economics * Faculty * Research * Staff * Master's * Ph.D. * Reload * Login