{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/investor-returns",
 "identifier": "kaal:entity:investor-returns",
 "name": "Investor returns",
 "termCode": "investor-returns",
 "inDefinedTermSet": {
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 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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   "value": [
    "2010",
    "2016"
   ]
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-032",
   "identifier": "kaal:claim:1664809-032",
   "text": "If Congress enacts section 7216, EU investors will on the whole probably earn a lower return on their investments than they otherwise would, because the substantial costs the US litigation system imposes on EU companies will be passed on to investors.",
   "abstract": "enacts section 7216, EU investors will, on the whole probably, earn",
   "citation": "Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809",
   "datePublished": "2010",
   "claim_type": "predictive",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "enactment of section 7216",
    "costs of US litigation borne by EU issuers"
   ],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2150377-029",
   "identifier": "kaal:claim:2150377-029",
   "text": "Registration and disclosure costs had not reached investors at the time of the survey: 76.09% of respondents reported that their investors' rate of return was not affected, while 23.91% believed investors would be affected.",
   "abstract": "Of those who responded, 76.09% stated that their investors' rate of return has not been affected by the registration and disclosure requirements, whereas 23.91% of respondents believe their investors will be affected by the registration and disclosure requirements.",
   "citation": "Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377",
   "datePublished": "2012",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "respondents to survey Questions 11a and 11b",
    "measured within three months of the registration effective date"
   ],
   "source_pdf_sha256": "0b58bb409cac7674d78515f5374096f9a349de3bbd1983c990e0edc85a635a09",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2150377-030",
   "identifier": "kaal:claim:2150377-030",
   "text": "The incidence of Dodd-Frank compliance cost falls on the management company rather than the fund: the responses indicate that the management company bears the brunt of registration and disclosure costs, and whether and how those expenses will be passed to investors over time is unclear.",
   "abstract": "In the pool of respondents for this study, the responses seem to indicate that it is the management company that bears the brunt of costs associated with the registration and disclosure requirements. It is unclear whether and how the increased expenses will be passed on to investors over time.",
   "citation": "Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377",
   "datePublished": "2012",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "the pool of respondents in this study",
    "short run, within months of the registration effective date"
   ],
   "source_pdf_sha256": "0b58bb409cac7674d78515f5374096f9a349de3bbd1983c990e0edc85a635a09",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2732915-033",
   "identifier": "kaal:claim:2732915-033",
   "text": "Sixty five percent of adviser survey respondents believed that their fund earnings were not affected by the Dodd-Frank Act.",
   "abstract": "Figure 16 shows that 65% of adviser survey respondents believed that fund earnings were not affected by the Dodd-Frank Act.",
   "citation": "Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "responses to survey question 11 on fund earnings and net rate of return to investors"
   ],
   "source_pdf_sha256": "643658c02f6625bca35595696116d0ad74d681ed8579c644832ae4a88b2a8c14",
   "status": "current"
  }
 ],
 "description": "4 claims in the published works of Wulf A. Kaal carry the concept tag 'investor-returns'. Derived node: a roster, not an adjudicated definition."
}