# Empirical legal studies

`kaal:entity:empirical-legal-studies`

**Status.** derived

This node is assembled mechanically from the 11 claims that carry the concept tag `empirical-legal-studies`. 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

11 claims across 6 works, 2012 to 2016.

**2012**

- [2150377-012](https://wulfkaal.github.io/claims/2150377-012) [empirical/evidenced] -- This Article reports the first survey study of hedge fund advisers conducted after the SEC's registration effective date, drawing on a population of 1267 private fund advisers who registered before March 30, 2012.
  > This Article presents the results of the first survey study with hedge fund advisers after the SEC's registration effective date. The population consists of 1267 private fund advisers who registered before the SEC's registration effective date for private funds, March 30, 2012.
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377
- [2150377-013](https://wulfkaal.github.io/claims/2150377-013) [failure/evidenced] *(failure mode)* -- The hedge fund industry's concern with confidentiality and privacy is itself an obstacle to empirical research: it made obtaining a substantial effective sample size for this study difficult, independent of the survey design.
  > Given the particular concern in the hedge fund industry regarding confidentiality and privacy, obtaining a substantial effective sample size for this study proved difficult.
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377
- [2150377-014](https://wulfkaal.github.io/claims/2150377-014) [empirical/evidenced] -- Persistent multi-channel follow-up, by fax, e-mail, and telephone, yielded ninety-four completed surveys, a 7.42% response rate from a population of 1267, which is substantially higher than response rates in prior surveys of this industry.
  > This procedure proved successful and yielded ninety-four completed surveys, a response rate of 7.42% of a population of 1267. This response rate is substantially higher than the response rate of prior surveys in a related context.175
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377
- [2150377-016](https://wulfkaal.github.io/claims/2150377-016) [failure/evidenced] *(failure mode)* -- The standard remedies for selection bias are not reliably corrective: simulation studies show that many techniques used to prevent selection bias problems have mixed success rates, can worsen rather than improve estimates, and may skew results under ordinary circumstances.
  > Simulation studies have shown that many of the techniques used to prevent selection bias problems have mixed success rates, can worsen rather than improve estimates, and may skew results under ordinary circumstances.187
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377

**2014**

- [2447306-005](https://wulfkaal.github.io/claims/2447306-005) [empirical/argued] -- Prior scholarship, including the author's own earlier work, established that Form PF created core challenges for the private fund industry but did not clarify what impact the disclosure requirements actually have on managers; this study is designed to fill that gap.
  > While prior studies have acknowledged that the SEC's mandated collection of private fund data via Form PF created several core challenges for the private fund industry, these studies do not sufficiently clarify the impact of Form PF disclosure requirements on managers.
  Wulf A. Kaal, Private Fund Disclosures Under the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2447306

**2015**

- [2629451-011](https://wulfkaal.github.io/claims/2629451-011) [empirical/asserted] -- This is the first study to examine stock price reactions to non- and deferred prosecution agreements, using all publicly available N/DPAs across several industries from 1993 to 2015 (N=330).
  > This is the first study that examines stock price reactions to N/DPAs. Our hand- selected dataset contains all publicly available N/DPAs in several industries from 1993 to 2015 (N=330).
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451
- [2629451-037](https://wulfkaal.github.io/claims/2629451-037) [empirical/asserted] -- The existing literature has barely engaged the financial market implications of N/DPAs, which is the gap this study fills.
  > The literature has only marginally recognized the implications of N/DPAs for financial markets.
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451

**2016**

- [2732915-005](https://wulfkaal.github.io/claims/2732915-005) [empirical/evidenced] -- The survey achieved a response rate of 5.44 percent from a population of 1267 registered private fund advisers.
  > The response rate for this survey was 5.44% of a population of 1267.
  Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915
- [2739479-017](https://wulfkaal.github.io/claims/2739479-017) [failure/argued] *(failure mode)* -- Survey research on private fund advisers is structurally constrained because these advisers traditionally oppose publicity and hold a strong preference for confidentiality and privacy, which makes a substantial effective sample size difficult to obtain.
  > The 2012 and 2015 surveys were subject to sampling constraints. Private fund advisers traditionally oppose publicity and have a strong preference for confi- dentiality and privacy.
  Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479
- [2739479-018](https://wulfkaal.github.io/claims/2739479-018) [condition/argued] -- Neither the 2012 nor the 2015 sample is biased, and the comparison across the two populations is consistent because respondents in both surveys were equally subject to Title IV compliance obligations.
  > Neither the population sample for the 2012 survey188 nor the 2015 follow-up study189 sample are biased. The comparison of the two populations is consistent and unbiased because respondents in both surveys are equally required to com- ply with Title IV.
  Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479
- [2811718-014](https://wulfkaal.github.io/claims/2811718-014) [design/argued] -- Litigation research on private fund due diligence requires in depth evaluation of case dockets rather than only published judicial decisions, because opinions are snapshots that do not tell the whole story of a case.
  > Litigation research requires an in-depth evaluation of case dockets rather than published judicial decisions.
  Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718

## 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/empirical-legal-studies.md | sha256sum

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