A Portrait of Hedge Fund Investors: Flows, Performance and Smart Money

On Persistence in Mutual Fund Performance

1997 • 16,085 citations

Risk, Return, and Equilibrium: Empirical Tests

1973 • 14,580 citations

Limited-dependent and qualitative variables in econometrics

1983 • 13,615 citations

Costly Search and Mutual Fund Flows

1998 • 3,255 citations

On Persistence in Mutual Fund Performance

1997 • 3,173 citations

Risk Taking by Mutual Funds as a Response to Incentives

1997 • 2,276 citations

Another Puzzle: The Growth in Actively Managed Mutual Funds

1996 • 2,132 citations

Mutual Fund Flows and Performance in Rational Markets

2004 • 1,923 citations

The Performance of Hedge Funds: Risk, Return, and Incentives

1999 • 1,170 citations

Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund Industry

1992 • 1,130 citations

An econometric model of serial correlation and illiquidity in hedge fund returns

2004 • 1,039 citations

Is Money Smart? A Study of Mutual Fund Investors' Fund Selection Ability

1999 • 867 citations

The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds

2002 • 828 citations

Investor flows and the assessed performance of open-end mutual funds

1999 • 778 citations

Aggregate mutual fund flows and security returns

1995 • 770 citations

Hedge Funds: Performance, Risk, and Capital Formation

2008 • 638 citations

Multi-Period Performance Persistence Analysis of Hedge Funds

2000 • 611 citations

High‐Water Marks and Hedge Fund Management Contracts

2003 • 599 citations

Testing for Selectivity Bias in Panel Data Models

1992 • 563 citations

Is Money Really 'Smart'? New Evidence on the Relation Between Mutual Fund Flows, Manager Behavior, and Performance Persistence

2003 • 542 citations

COGNITIVE DISSONANCE AND MUTUAL FUND INVESTORS

1997 • 539 citations

The Structure and Performance of the Money Management Industry

1992 • 535 citations

Beyond Greed and Fear

2002 • 498 citations

Mutual Fund Flows and Performance in Rational Markets

2003 • 465 citations

Careers and Survival: Competition and Risk in the Hedge Fund and CTA Industry

2001 • 461 citations

How Investors Interpret Past Fund Returns

2003 • 444 citations

Does Stock Return Momentum Explain the “Smart Money” Effect?

2004 • 323 citations

Do after-tax returns affect mutual fund inflows?

2002 • 313 citations

Performance Incentive Fees: An Agency Theoretic Approach

1987 • 303 citations

Hedge Funds with Style

2003 • 297 citations

Survival, Look-Ahead Bias, and Persistence in Hedge Fund Performance

2005 • 287 citations

Mandatory Disclosure and Operational Risk: Evidence from Hedge Fund Registration

2008 • 254 citations

An Econometric Model of Serial Correlation and Illiquidity in Hedge Fund Returns

2003 • 238 citations

Hedge-Fund Benchmarks: Information Content and Biases

2002 • 222 citations

Hedge Funds: Performance, Risk, and Capital Formation

2008 • 190 citations

Does Option Compensation Increase Managerial Risk Appetite

1999 • 147 citations

Hedge Funds: The Living and the Dead

2000 • 117 citations

Hedge Funds: Myths and Limits

2002 • 113 citations

High-Water Marks and Hedge Fund Management Contracts

1998 • 113 citations

Hedge funds: an industry in its adolescence

2006 • 107 citations

Hedge Fund Performance Persistence: A New Approach

2008 • 99 citations

Multi-Period Performance Persistence Analysis of Hedge Funds

2000 • 88 citations

How Investors Interpret Past Fund Returns

2000 • 73 citations

Good Stewards, Cheap Talkers, or Family Men? The Impact of Mutual Fund Closures on Fund Managers, Flows, Fees, and Performance

2006 • 64 citations

Flows, Performance, and Managerial Incentives in the Hedge Fund Industry

2003 • 63 citations

Hedge Funds With Style

2001 • 60 citations

The Life Cycle of Hedge Funds: Fund Flows, Size and Performance

2005 • 60 citations

Survival, Look-Ahead Bias and the Persistence in Hedge Fund Performance

2004 • 51 citations

Mandatory Disclosure and Operational Risk: Evidence from Hedge Fund Registration

2006 • 50 citations

Rounding Error: A Distorting Influence on Index Data

2004 • 42 citations

Do After-Tax Returns Affect Mutual Fund Inflows?

2000 • 39 citations

Does Stock Return Momentum Explain the 'Smart Money' Effect?

2003 • 31 citations

Hedge Fund Performance Persistence: A New Approach

2008 • 13 citations

Marketing of Hedge Funds: A key strategic variable in defining possible roles of an emerging investment force

1996 • 5 citations