# Hypothesis testing

`kaal:entity:hypothesis-testing`

**Status.** derived

This node is assembled mechanically from the 6 claims that carry the concept tag `hypothesis-testing`. 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

6 claims across 2 works, 2014 to 2015.

**2014**

- [2389423-016](https://wulfkaal.github.io/claims/2389423-016) [empirical/evidenced] -- Linear, robust, and non-linear regression models all show positive and statistically significant coefficients, and compliance costs per unit of AUM do not diminish in the sample, so the hypothesis that smaller advisers pay relatively more is not supported.
  > Figures X and Y show that linear, robust, and non-linear regression models show positive and statistically significant coefficients. Compliance costs per unit AUM do not diminish in the sample. There is thus no support for the hypothesis.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423
- [2389423-031](https://wulfkaal.github.io/claims/2389423-031) [empirical/evidenced] -- Compliance costs per unit of AUM do not diminish in the entire sample or in the multi strategy subsample, so there is no support for the hypothesis that smaller advisers bear relatively higher Title IV compliance cost.
  > Compliance costs per unit AUM do not diminish in the entire sample and in the multi strategy subsample. There is thus no support for the hypothesis.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423

**2015**

- [2629451-025](https://wulfkaal.github.io/claims/2629451-025) [empirical/evidenced] *(failure mode)* -- The authors reject Hypothesis 1: they find no evidence that the market reacts negatively to the N/DPA announcement and the start of the term and positively to the end of the term, contrary to the cost-imposition view of N/DPAs.
  > There is no evidence to support Hypothesis 1: The market does not react negatively at ANDPAE (E1a) and BNDPAT (E1b) and positively at ENDPAT (E1c).
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451
- [2629451-026](https://wulfkaal.github.io/claims/2629451-026) [empirical/evidenced] -- The data support Hypothesis 2: the market reacts positively at the DOJ announcement and at the start of the N/DPA term and negatively at the end of the term.
  > Figures 2 to 4a support Hypothesis 2: The market reacts positively at ANDPAE (E1a) and BNDPAT (E1b) and negatively at ENDPAT (E1c).
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451
- [2629451-029](https://wulfkaal.github.io/claims/2629451-029) [empirical/evidenced] -- The data support Hypothesis 3: the market reacts positively when N/DPA governance changes become mandatory at the start of the term and negatively when they cease to be mandatory at its end.
  > Figures 3, 3a, 4, and 4a support Hypothesis 3: The market reacts positively at BNDPAT (E1b) and negatively at ENDPAT (E1c).
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451
- [2629451-032](https://wulfkaal.github.io/claims/2629451-032) [empirical/asserted] -- Market reaction to N/DPAs is industry specific, supporting the hypothesis that investors in some industries are more sensitive to N/DPA effects than investors in others.
  > We find industry-specific effects that support Hypothesis 4.
  Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451

## 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/hypothesis-testing.md | sha256sum

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