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  • https://doi.org/10.1111/eufm.12457

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Born after the Volcker Rule: Regulatory change, managerial remuneration and hedge fund performance

Research output: Contribution to Journal/Magazine › Journal article › peer-review

E-pub ahead of print

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Born after the Volcker Rule: Regulatory change, managerial remuneration and hedge fund performance. / Bowe , Michael ; Kolokolova, Olga; Yu, Lijie.
In: European Financial Management, 06.09.2023.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Bowe , M, Kolokolova, O & Yu, L 2023, 'Born after the Volcker Rule: Regulatory change, managerial remuneration and hedge fund performance', European Financial Management. https://doi.org/10.1111/eufm.12457

APA

Bowe , M., Kolokolova, O., & Yu, L. (2023). Born after the Volcker Rule: Regulatory change, managerial remuneration and hedge fund performance. European Financial Management. Advance online publication. https://doi.org/10.1111/eufm.12457

Vancouver

Bowe M, Kolokolova O, Yu L. Born after the Volcker Rule: Regulatory change, managerial remuneration and hedge fund performance. European Financial Management. 2023 Sept 6. Epub 2023 Sept 6. doi: 10.1111/eufm.12457

Author

Bowe , Michael ; Kolokolova, Olga ; Yu, Lijie. / Born after the Volcker Rule : Regulatory change, managerial remuneration and hedge fund performance. In: European Financial Management. 2023.

Bibtex

@article{5b4b7a948deb4d6ca8b12d395a715328,
title = "Born after the Volcker Rule: Regulatory change, managerial remuneration and hedge fund performance",
abstract = "Substantial remunerative benefits accrue to managers of new hedge funds launched after the implementation of the Volcker Rule if their previous employer is a large US bank. After the rule, ex-bankers' funds charge higher management fees and receive more flows as compared with other new hedge funds established during the same period. This phenomenon is related to changes in investor perception of the distribution of skills of new fund managers rather than to the actual differences in skills. Ex-bankers' funds are indistinguishable from other funds in terms of performance, risk, and liquidation probability, both before and after the Volcker Rule.",
author = "Michael Bowe and Olga Kolokolova and Lijie Yu",
year = "2023",
month = sep,
day = "6",
doi = "10.1111/eufm.12457",
language = "English",
journal = "European Financial Management",
issn = "1354-7798",
publisher = "Wiley-Blackwell",

}

RIS

TY - JOUR

T1 - Born after the Volcker Rule

T2 - Regulatory change, managerial remuneration and hedge fund performance

AU - Bowe , Michael

AU - Kolokolova, Olga

AU - Yu, Lijie

PY - 2023/9/6

Y1 - 2023/9/6

N2 - Substantial remunerative benefits accrue to managers of new hedge funds launched after the implementation of the Volcker Rule if their previous employer is a large US bank. After the rule, ex-bankers' funds charge higher management fees and receive more flows as compared with other new hedge funds established during the same period. This phenomenon is related to changes in investor perception of the distribution of skills of new fund managers rather than to the actual differences in skills. Ex-bankers' funds are indistinguishable from other funds in terms of performance, risk, and liquidation probability, both before and after the Volcker Rule.

AB - Substantial remunerative benefits accrue to managers of new hedge funds launched after the implementation of the Volcker Rule if their previous employer is a large US bank. After the rule, ex-bankers' funds charge higher management fees and receive more flows as compared with other new hedge funds established during the same period. This phenomenon is related to changes in investor perception of the distribution of skills of new fund managers rather than to the actual differences in skills. Ex-bankers' funds are indistinguishable from other funds in terms of performance, risk, and liquidation probability, both before and after the Volcker Rule.

U2 - 10.1111/eufm.12457

DO - 10.1111/eufm.12457

M3 - Journal article

JO - European Financial Management

JF - European Financial Management

SN - 1354-7798

ER -