# Discontinuity

`kaal:entity:discontinuity`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `discontinuity`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 1 works, 2014 to 2014.

**2014**

- [2389416-030](https://wulfkaal.github.io/claims/2389416-030) [empirical/evidenced] -- Unlike the entire sample, whose discontinuity coefficient is near zero except in March 2012, the strategic subsample shows a discontinuity coefficient that is always above zero across the sample months.
  > While the entire sample has a value always very close to zero, except for March 2012, the strategic subsample has a value always above zero.
  Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416
- [2389416-031](https://wulfkaal.github.io/claims/2389416-031) [mechanism/evidenced] -- Some large advisers reduce their AUM in the months from May to August 2012, which strongly increases the discontinuity around the registration threshold and separates the two groups more sharply, though the effect vanishes late in the sample period.
  > In particular, some large advisers reduce their AUM. This leads to a strong increase in the discontinuity around the AUM registration threshold, suggesting a stronger separation between the two groups. The effect vanishes during the last months of our sample period.
  Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416
- [2389416-037](https://wulfkaal.github.io/claims/2389416-037) [empirical/evidenced] -- Despite the great volatility of hedge fund adviser returns over the observation period, the empirical evidence for a discontinuity at the $150 million AUM threshold is robust, but the discontinuity does not persist beyond the registration effective date.
  > Despite the great volatility of hedge fund adviser returns displayed over the period under examination, the empirical evidence is robust. The discontinuity is not persistent and dissipates in the subsequent months after the registration effective date for hedge fund advisers.
  Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/discontinuity.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.