kaal:claim:2816408-008

A third channel is measurement rather than economics: if regulation curbs misreporting, private fund advisers' performance would appear to decrease simply because managers are less able to inflate their monthly returns.

Source quote, verbatim

It is possible that similar results apply to private fund advisers, e.g. private fund advisers' performance appeared to decrease because managers were less able to inflate their monthly returns.

From

Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Private Fund Performance – Evidence from 2010 – 2015 (2016), 4. MOTIVATION, p. 7
https://ssrn.com/abstract=2816408 · source PDF

Cite as

Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Private Fund Performance – Evidence from 2010 – 2015 (2016). SSRN: https://ssrn.com/abstract=2816408

Holds when

if misreporting was upward biased before regulation
inferred by analogy to findings at public companies and hedge funds

Classification

mechanismsupport: argueddisclosureresearch-methods

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