24-01
Gjergji Cici, Philipp Schuster, Franziska Weishaupt
Once a Trader, Always a Trader: The Role of Traders in Fund Management
Executive Summary | Download Papers (Vers. 01/2024)

23-07
Alan Guoming Huang, Russ Wermers, Jinming Xue
“Buy the Rumor, Sell the News”: Liquidity Provision by Bond Funds Following Corporate News Events
Executive Summary | Download Papers (Vers. 11/2023)

23-05
Vikas Agarwal, Wei Jiang, Yuchen Luo, Hong Zou
The Real Effect of Sociopolitical Racial Animus: Mutual Fund Manager Performance During the AAPI Hate
Executive Summary | Download Papers (Vers. 07/2023)

23-04
Vikas Agarwal, Brad Barber, Si Cheng, Allaudeen Hameed, Harshini Shanker, Ayako Yasuda
Do Investors Overvalue Startups? Evidence from the Junior Stakes of Mutual Funds
Executive Summary | Download Papers (Vers. 04/2023)

22-12
Vikas Agarwal, Alexander Cochardt, Vitaly Orlov
Birth Order and Fund Manager's Trading Behavior: Role of Sibling Rivalry
Executive Summary | Download Papers (Vers. 11/2022)

22-11
Gjergji Cici, Scott Gibson, Nan Qin, Alex Zhang
The Performance of Corporate Bond Mutual Funds and the Allocation of Underpriced New Issues
Executive Summary | Download Papers (Vers. 09/2022)

22-08
M. Gehde-Trapp, Linda Klingler
The Effect of Sentiment on Institutional Investors: A Gender Analysis
Executive Summary | Download Papers (Vers. 07/2022)

22-06
Justin Balthrop, Gjergji Cici
Conflicting Incentives in the Management of 529 Plans
Executive Summary | Download Papers (Vers. 03/2022)
forthcoming in: Journal of Law and Economics

22-04
Manuel Ammann, Alexander Cochardt, Simon Straumann, Florian Weigert
Back to the Roots: Ancestral Origin and Mutual Fund Manager Portfolio Choice
Executive Summary | Download Papers (Vers. 02/2022)

22-02
Simon Lesmeister, Peter Limbach, P. Raghavendra Rau, Florian Sonnenburg
Indexing and the Performance-Flow Relation of Actively Managed Mutual Funds
Executive Summary | Download Papers (Vers. 01/2022)

21-11
Vikas Agarwal, Honglin Ren, Ke Shen, Haibei Zhao
Redemption in Kind and Mutual Fund Liquidity Management
Executive Summary | Download Papers (Vers. 06/2022)
published in: Review of Financial Studies, Vol. 36, 2023, pp. 2274-2318.

21-09
Vikas Agarwal, Brad Barber, Si Cheng, Allaudeen Hameed, Ayako Yasuda
Private Company Valuations by Mutual Funds
Executive Summary | Download Papers (Vers. 02/2021)
published in: Review of Finance, Vol. 27, 2023, pp. 693-738.

21-05
Gjergji Cici, Pei (Alex) Zhang
On the Valuation Skills of Corporate Bond Mutual Funds
Executive Summary | Download Papers (Vers. 06/2024)
forthcoming in: Review of Finance

21-01
Turan G. Bali, Florian Weigert
Hedge Funds and the Positive Idiosyncratic Volatility Effect
Executive Summary | Download Papers (Vers. 12/2020)
forthcoming in: Review of Finance

20-14
Vikas Agarwal, Yan Lu, Sugata Ray
Are hedge funds’ charitable donations strategic?
Executive Summary | Download Papers (Vers. 12/2020)
published in: Journal of Corporate Finance, Vol. 66, 2021, 101842, pp. 1-64.

20-11
Mario Hendriock
Implied Cost of Capital and Mutual Fund Performance
Executive Summary | Download Papers (Vers. 11/2020)

20-08
Vikas Agarwal, Lei Jiang, Quan Wen
Why Do Mutual Funds Hold Lottery Stocks?
Executive Summary | Download Papers (Vers. 10/2020)
published in: Journal of Financial and Quantitative Analysis, Vol. 57, 2022, pp. 825-856.

20-07
Vikas Agarwal, Stefan Ruenzi, Florian Weigert
Unobserved Performance of Hedge Funds
Executive Summary | Download Papers (Vers. 08/2023)
forthcoming in: Journal of Finance

20-06
Manuel Ammann, Sebastian Fischer, Florian Weigert
Factor Exposure Variation and Mutual Fund Performance
Executive Summary | Download Papers (Vers. 08/2020)
published in: Financial Analysts Journal, Vol. 76, 2020, pp. 101-118.

19-05
Gjergji Cici, Mario Hendriock, Alexander Kempf
Finding your calling: Matching skills with jobs in the mutual fund industry
Executive Summary | Download Papers (Vers. 07/2022)

19-03
Gjergji Cici, Mario Hendriock, Stefan Jaspersen, Alexander Kempf
#MeToo Meets the Mutual Fund Industry: Productivity Effects of Sexual Harassment
Executive Summary | Download Papers (Vers. 08/2019)
published in: Finance Research Letters , Vol. 40, 2021, 101687, pp. 1-24.

18-04
Gjergji Cici, Alexander Kempf, Claudia Peitzmeier
Knowledge Spillovers in the Mutual Fund Industry through Labor Mobility
Executive Summary | Download Papers (Vers. 01/2019)
published in: Journal of Banking and Finance, Vol. 134, 2022, Article 106310, pp. 1-13.

16-10
Vikas Agarwal, Rahul Vashishtha, Mohan Venkatachalam
Mutual Fund Transparency and Corporate Myopia
Executive Summary | Download Papers (Vers. 08/2017)
published in: Review of Financial Studies, Vol. 31, 2018, pp. 1966–2003.

16-09
Marc-André Göricke
Do Generalists Profit from the Fund Families’ Specialists? Evidence from Mutual Fund Families Offering Sector Funds
Executive Summary | Download Papers (Vers. 12/2016)

16-07
Stefan Jaspersen
Mutual Fund Bets on Market Power
Executive Summary | Download Papers (Vers. 02/2021)

16-03
Thorsten Martin, Florian Sonnenburg
Managerial Ownership Changes and Mutual Fund Performance
Executive Summary | Download Papers (Vers. 08/2015)

15-16
David Blake, Alberto G. Rossi, Allan Timmermann, Ian Tonks, Russ Wermers
Network Centrality and Pension Fund Performance
Executive Summary | Download Papers (Vers. 11/2015)
published in: Journal of Financial Economics, Vol. 128, 2018, pp. 183-206.

15-12
Vikas Agarwal, George Aragon, Zhen Shi
Liquidity Transformation and Financial Fragility: Evidence from Funds of Hedge Funds
Executive Summary | Download Papers (Vers. 08/2015)
published in: Journal of Financial and Quantitative Analysis, Vol. 54, 2019, pp. 2355-2381.

15-09
Vikas Agarwal, Haibei Zhao
Interfund lending in mutual fund families: Role in liquidity management
Executive Summary | Download Papers (Vers. 11/2018)
published in: Review of Financial Studies, Vol. 32, 2019, pp. 4079–4115.

15-07
Vikas Agarwal, Stefan Ruenzi, Florian Weigert
Tail risk in hedge funds: A unique view from portfolio holdings
Executive Summary | Download Papers (Vers. 05/2015)
published in: Journal of Financial Economics, Vol. 125, 2017, pp. 610-636.

15-06
Chunhua Lan, Fabio Moneta, Russ Wermers
Holding Horizon: A New Measure of Active Investment Management
Executive Summary | Download Papers (Vers. 11/2018)

15-05
Laura Dahm, Christoph Sorhage
Milk or Wine:Mutual Funds’ (Dis)economies of Life
Executive Summary | Download Papers (Vers. 07/2015)

15-03
Vikas Agarwal, Y. Eser Arisoy, Narayan Y. Naik
Volatility of Aggregate Volatility and Hedge Funds Returns
Executive Summary | Download Papers (Vers. 06/2015)
published in: Journal of Financial Economics, Vol. 125, 2017, pp. 491-510.

15-02
Gjergji Cici, Stefan Jaspersen, Alexander Kempf
Speed of Information Diffusion within Fund Families
Executive Summary | Download Papers (Vers. 07/2015)
published in: Review of Asset Pricing Studies, Vol. 7, 2017, pp. 144-170.

14-14
Gjergji Cici, Laura Dahm, Alexander Kempf
Trading Efficiency of Fund Families: Impact on Fund Performance and Investment Behavior
Executive Summary | Download Papers (Vers. 09/2017)
published in: Journal of Banking and Finance, Vol. 88, 2018, pp. 1-14.

14-13
Vikas Agarwal, Yan Lu, Sugata Ray
Under one roof: A study of simultaneously managed hedge funds and funds of hedge funds
Executive Summary | Download Papers (Vers. 11/2014)
published in: Management Science, Vol. 62, 2016, pp. 722-740.

14-11
Gjergji Cici, M. Gehde-Trapp, Marc-André Göricke, Alexander Kempf
The Investment Value of Mutual Fund Managers’ Experience outside the Financial Sector
Executive Summary | Download Papers (Vers. 10/2014)
published in: Review of Financial Studies, Vol. 31, 2018, pp. 3821-3853.

14-04
Christoph Sorhage
Outsourcing of Mutual Funds’ Non-coreCompetencies
Executive Summary | Download Papers (Vers. 08/2015)

13-10
Vikas Agarwal, Linlin Ma, Kevin Mullally
Managerial Multitasking in the Mutual Fund Industry
Executive Summary | Download Papers (Vers. 12/2022)
published in: Financial Analysts Journal, Vol. 79, 2023, pp. 65-75.

13-07
Gjergji Cici, Scott Gibson, Yalin Gunduz, John J. Merrick, Jr.
Market Transparency and the Marking Precision of Bond Mutual Fund Managers
Executive Summary | Download Papers (Vers. 06/2014)
published in: Journal of Portfolio Management, Vol. 41, 2015, pp. 126-137.

13-04
Vikas Agarwal, Kevin Mullally, Yuehua Tang, Baozhong Yang
Mandatory Portfolio Disclosure, Stock Liquidity, and Mutual Fund Performance
Executive Summary | Download Papers (Vers. 05/2014)
published in: Journal of Finance, Vol. 70, 2015, pp. 2733–2776.

13-03
Vikas Agarwal, Vikram Nanda, Sugata Ray
Institutional Investment and Intermediation in the Hedge Fund Industry
Executive Summary | Download Papers (Vers. 06/2013)

12-11
Russ Wermers, Youchang Wu, Josef Zechner
Governance and Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds
Executive Summary | Download Papers (Vers. 11/2012)
published in: Review of Financial Studies, Vol. 29, 2016, pp. 3428-3470

12-07
Gjergji Cici, Claire Rosenfeld
A Study of Analyst-Run Mutual Funds: The Abilities and Roles of Buy-Side Analysts
Executive Summary | Download Papers (Vers. 11/2015)
published in: Journal of Empirical Finance, Vol. 36, 2016, pp. 8-29.

12-06
Alexander Kempf, Alexander Pütz, Florian Sonnenburg
The Impact of Duality on Managerial Decisions and Performance: Evidence from the Mutual Fund Industry
Executive Summary | Download Papers (Vers. 10/2013)

12-05
Lawrence Schmidt, Allan Timmermann, Russ Wermers
Runs on Money Market Mutual Funds
Executive Summary | Download Papers (Vers. 06/2014)
published in: American Economic Review, Vol. 106, 2016, pp. 2625-57.

12-04
Russ Wermers
A Matter of Style: The Causes and Consequences of Style Drift in Institutional Portfolios
Executive Summary | Download Papers (Vers. 03/2012)

11-16
Vikas Agarwal, Juan-Pedro Gómez, Richard Priestley
Management Compensation and Market Timing under Portfolio Constraints
Executive Summary | Download Papers (Vers. 02/2012)
published in: Journal of Economic Dynamics and Control, Vol. 36, 2012, pp. 1600-1625.

11-09
Vikas Agarwal, Sugata Ray
Determinants and Implications of Fee Changes in the Hedge Fund Industry
Executive Summary | Download Papers (Vers. 03/2011)

11-08
Gjergji Cici, Luis-Felipe Palacios
On the Use of Options by Mutual Funds: Do They Know What They Are Doing?
Executive Summary | Download Papers (Vers. 02/2013)
published in: Journal of Banking and Finance, Vol. 50, 2015, pp. 157-168.

11-07
Vikas Agarwal, Gerald D. Gay, Leng Ling
Window dressing in mutual funds
Executive Summary | Download Papers (Vers. 06/2014)
published in: Review of Financial Studies, Vol. 27, 2014, pp. 3133-3170.

11-05
Gjergji Cici
The Prevalence of the Disposition Effect in Mutual Funds´ Trades
Executive Summary | Download Papers (Vers. 04/2011)
published in: Journal of Financial and Quantitative Analysis, Vol. 47, 2012, pp. 795-820.

11-04
Stephan Jank
Mutual fund flows, expected returns, and the real economy
Executive Summary | Download Papers (Vers. 02/2011)
published in: Journal of Banking and Finance, Vol. 36, 2012, pp. 3060-3070.

11-02
Stephan Jank
Are There Disadvantaged Clienteles in Mutual Funds?
Executive Summary | Download Papers (Vers. 02/2011)

11-01
Vikas Agarwal, Costanza Meneghetti
The Role of Hedge Funds as Primary Lenders
Executive Summary | Download Papers
published in: Review of Derivatives Research, Vol. 14, 2011, pp. 241-261.

10-20
Gjergji Cici, Scott Gibson, John J. Merrick, Jr.
Missing the Marks? Dispersion in Corporate Bond Valuations Across Mutual Funds
Executive Summary | Download Papers (Vers. 12/2010)
published in: Journal of Financial Economics, Vol. 101, 2011, pp. 206-226.

10-18
Gjergji Cici, Scott Gibson
The Performance of Corporate-Bond Mutual Funds: Evidence Based on Security-Level Holdings
Executive Summary | Download Papers (Vers. 11/2010)
published in: Journal of Financial and Quantitative Analysis, Vol. 47, 2012, pp. 159-178.

10-16
Stephan Jank, Michael Wedow
Sturm und Drang in Money Market Funds: When Money Market Funds Cease to Be Narrow
Executive Summary | Download Papers (Vers. 09/2010)
published in: Journal of Financial Stability , Vol. 16, 2015, pp. 59-70.

10-15
Gjergji Cici, Alexander Kempf, Alexander Pütz
The Valuation of Hedge Funds’ Equity Positions
Executive Summary | Download Papers (Vers. 05/2013)
published in: Journal of Financial and Quantitative Analysis, Vol 51, 2016, pp. 1013-1037.

10-13
Stephan Jank, Michael Wedow
Purchase and Redemption Decisions of Mutual Fund Investors and the Role of Fund Families
Executive Summary | Download Papers (Vers. 07/2010)
published in: European Journal of Finance, Vol. 19, 2013, pp. 127-144.

10-09
Vikas Agarwal, Wei Jiang, Yuehua Tang, Baozhong Yang
Uncovering Hedge Fund Skill from the Portfolio Holdings They Hide
Executive Summary | Download Papers (Vers. 05/2011)
published in: Journal of Finance, Vol. 68, 2013, pp. 739-783.

10-08
Vikas Agarwal, Vyacheslav Fos, Wei Jiang
Inferring Reporting-Related Biases in Hedge Fund Databases from Hedge Fund Equity Holdings
Executive Summary | Download Papers (Vers. 07/2012)
published in: Management Science, Vol. 59, 2013, pp. 1271-1289.

10-07
Vikas Agarwal, Gurdip Bakshi, Joop Huij
Do Higher-Moment Equity Risks Explain Hedge Fund Returns?
Executive Summary | Download Papers (Vers. 08/2009)

10-05
Kerstin Drachter, Alexander Kempf
Vergütung von Managern deutscher Aktienfonds: Höhe, Struktur, Determinanten und Anreizwirkungen
Executive Summary | Download Paper (externer Link)
published in: Zeitschrift für Betriebswirtschaft - ZfB, Vol. 82, 2012, pp. 5-28.

10-04
Jieyan Fang, M. Gehde-Trapp, Alexander Kempf
Fund Manager Allocation
Executive Summary | Download Papers (Vers. 06/2012)
published in: Journal of Financial Economics, Vol. 111, 2014, pp. 661-674.

10-02
David Hunter, Eugene Kandel, Shmuel Kandel, Russ Wermers
Mutual Fund Performance Evaluation with Active Peer Benchmarks
Executive Summary | Download Papers (Vers. 08/2013)
published in: Journal of Financial Economics, Vol. 112, 2014, pp. 1-29.

09-03
Ayelen Banegas, Benjamin Gillen, Allan Timmermann, Russ Wermers
The Cross-section of Conditional Mutual Fund Performance in European Stock Markets
Executive Summary | Download Papers (Vers. 06/2012)
published in: Journal of Financial Economics, Vol. 108, 2013, pp. 699-726.

07-13
Alexander Kempf, Peer Osthoff
SRI Funds: Nomen est Omen
Executive Summary | Download Papers (Vers. 08/2007)
published in: Journal of Business Finance and Accounting, Vol. 35, 2008, pp. 1276-1294.

07-11
Vikas Agarwal, Jayant R. Kale
On the Relative Performance of Multi-Strategy and Funds of Hedge Funds
Executive Summary | Download Papers (Vers. 06/2007)
published in: Journal of Investment Management, Vol. 5, 2007, pp. 41-63.

07-09
Vikas Agarwal, Naveen D. Daniel, Narayan Y. Naik
Do hedge funds manage their reported returns?
Executive Summary | Download Papers (Vers. 09/2009)
published in: Review of Financial Studies, Vol. 24, 2011, pp. 3281-3320.

07-04
Vikas Agarwal, Nicole M. Boyson, Narayan Y. Naik
Hedge Funds for Retail Investors? An Examination of Hedged Mutual Funds
Executive Summary | Download Papers (Vers. 05/2007)
published in: Journal of Financial and Quantitative Analysis, Vol. 44, 2009, pp. 273-305.

06-12
Russ Wermers, Youchang Wu, Josef Zechner
Portfolio Performance, Discount Dynamics, and the Turnover of Closed-End Fund Managers
Executive Summary | Download Papers (Vers. 12/2005)

06-06
Jan P. Krahnen, Frank A. Schmid, Erik Theissen
Investment Performance and Market Share: A Study of the German Mutual Fund Industry
Executive Summary | Download Papers (Vers. 03/2006)
published in: Bessler, Wolfgang (Hrsg.): Börsen, Banken und Kapitalmärkte. Festschrift für Hartmut Schmidt zum 65. Geburtstag, Duncker & Humblot, Berlin, 2006, pp. 471-491.

06-05
Silke Ber, Stefan Ruenzi
On the Usability of Synthetic Measures of Mutual Fund Net-Flows
Executive Summary | Download Papers

06-02
Laurent Barras, Olivier Scaillet, Russ Wermers
False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas
Executive Summary | Download Papers (Vers. 04/2009)
published in: Journal of Finance, Vol. 65, 2010, pp. 179-216.

05-14
Robert Kosowski, Allan Timmermann, Russ Wermers, Hal White
Can Mutual Fund "Stars" Really Pick Stocks? New Evidence from a Bootstrap Analysis
Executive Summary | Download Papers (Vers. 05/2005)
published in: Journal of Finance, Vol. 61, 2006, pp. 2551-2596.

05-13
Doron Avramov, Russ Wermers
Investing in Mutual Funds when Returns are Predictable
Executive Summary | Download Papers (Vers. 04/2005)
published in: Journal of Financial Economics, Vol. 81, 2006, pp. 339-377.

05-10
Michaela Bär, Alexander Kempf, Stefan Ruenzi
Is a Team Different From the Sum of Its Parts? Evidence from Mutual Fund Managers
Executive Summary | Download Papers
published in: Review of Finance, Vol. 15, 2011, pp. 359-396.

04-09
Alexander Kempf, Klaus Kreuzberg
Portfolio Disclosure, Portfolio Selection and Mutual Fund Performance Evaluation
Executive Summary | Download Papers (Vers. 05/2004)

04-04
Vikas Agarwal, Naveen D. Daniel, Narayan Y. Naik
Role of managerial incentives and discretion in hedge fund performance
Executive Summary | Download Papers (Vers. 11/2009)
published in: Journal of Finance, Vol. 64, 2009, pp. 2221–2256.

04-03
Vikas Agarwal, William H. Fung, Yee Cheng Loon, Narayan Y. Naik
Risk and Return in Convertible Arbitrage: Evidence from the Convertible Bond Market
Executive Summary | Download Papers (Vers. 02/2009)
published in: Journal of Empirical Finance, Vol. 18, 2011, pp. 175-194.

04-02
Alexander Kempf, Stefan Ruenzi
Tournaments in Mutual Fund Families
Executive Summary | Download Papers (Vers. 10/2004)
published in: Review of Financial Studies, Vol. 21, 2008, pp. 1013-1036.