# kaal:claim:2816408-028

**Claim.** To sharpen assignment to treatment and control, actual registration histories were pulled from the SEC's IAPD website and historical Form ADV data and combined with Morningstar variables to build two additional control groups: firms already registered with no status change, and foreign firms completely unaffected by the US legal regime.

**Type.** design  **Support.** argued

**Holds when.**

- tighter RD designs
- US versus non-US adviser eligibility rules differ

**Source quote.**

> create two additional control groups of exempt reporting advisers (ERAs): (1) only firms that were already registered and had no change in status, and (2) foreign firms that are completely unaffected by the US legal regime.

**From.** Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, *Did the Dodd-Frank Act Impact Private Fund Performance  – Evidence from 2010 – 2015* (2016), 6. NARROWER RD DESIGN, page 12

**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, private-funds

**Keywords.** control-groups, exempt-reporting-advisers, form-adv, research-design

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