# kaal:claim:2816408-008

**Claim.** 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.

**Type.** mechanism  **Support.** argued

**Holds when.**

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

**Source quote.**

> 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, page 7

**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

**Verify.** sha256 of source PDF `dc3b2f9e60e42ea1b42c2e0062d65569675b014c05fcd30b15ad44d2410b2ce7` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20et%20al.%20-%202016%20-%20Did%20the%20Dodd-Frank%20Act%20Impact%20Private%20Fund%20Performance%20%20%E2%80%93%20Evidence%20from%202010%20%E2%80%93%202015.pdf

**Topics.** disclosure, research-methods

**Keywords.** misreporting, mechanism, measurement-artifact, regulatory-oversight

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.