Does size matter in the hedge fund industry?
We document a negative and convex relationship between hedge fund size and future risk-adjusted returns. Small hedge funds outperform large hedge funds by 3.65 percent per year after adjusting for risk. This over performance is not driven by fund age, leverage, serial correlation, or self-selection...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2009
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| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/5174 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6173/viewcontent/SSRN_id1331754.pdf |
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| Institution: | Singapore Management University |
| Language: | English |