# Long term effects `kaal:entity:long-term-effects` **Status.** derived This node is assembled mechanically from the 9 claims that carry the concept tag `long-term-effects`. 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 9 claims across 4 works, 2012 to 2016. **2012** - [2150377-032](https://wulfkaal.github.io/claims/2150377-032) [empirical/evidenced] -- Registration and disclosure did not push advisers to change what they invest in: only 2.44% of respondents said they would have to change strategy significantly over five years, while 4.88% expressly reported no strategy change. > Only 2.44% of respondents indicated that they would have to change their strategy significantly as a result of the registration and disclosure requirements, but 4.88% reported that the new requirements would not result in a strategy change. Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377 - [2150377-038](https://wulfkaal.github.io/claims/2150377-038) [predictive/argued] -- Quick absorption of registration costs does not settle the policy question: even if advisers absorb the reported cost implications relatively quickly after registration, the long-term cost implications of registration and reporting obligations could still affect the private fund industry. > Although hedge fund advisers may absorb the reported cost implications of registration and disclosure rules relatively quickly after registration, the long-term cost implications of registration and reporting obligations could affect the private fund industry. Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377 - [2150377-041](https://wulfkaal.github.io/claims/2150377-041) [condition/asserted] -- The study's findings are bounded in time: because the data was collected within three months of the registration effective date, the study shows trends and perceptions but does not provide insights on the long-term implications of the registration and disclosure requirements. > Although this study shows trends and perceptions within the industry, it does not provide insights on the long-term implications of the registration and disclosure requirements because the data was collected within a relatively short time period after the registration requirements took effect. Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377 **2014** - [2447306-044](https://wulfkaal.github.io/claims/2447306-044) [empirical/asserted] *(failure mode)* -- The study's cost findings are bounded to the short run: the data cannot establish what it will cost the private fund industry to keep completing and filing Form PF annually or quarterly over time. > The data does not identify the long-term costs for the private fund industry of having to complete and file Form PF on an annual or quarterly basis. Wulf A. Kaal, Private Fund Disclosures Under the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2447306 **2016** - [2732915-004](https://wulfkaal.github.io/claims/2732915-004) [empirical/evidenced] -- Although the industry adapted well to the post Dodd-Frank environment, the Act has already produced some negative effects on the private fund industry and may produce further negative long-term effects. > Nevertheless, the findings of this study show that the Act has already had some negative effects on the industry and that it may have some negative long-term effects. Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915 - [2732915-011](https://wulfkaal.github.io/claims/2732915-011) [empirical/argued] -- Prior studies acknowledge that the SEC's mandated collection of private fund data through Form PF created several core challenges for the industry, but they do not sufficiently clarify the long-term impact of the Form PF disclosure requirements. > Although 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 long-term impact of the Form PF disclosure requirements. Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915 - [2732915-036](https://wulfkaal.github.io/claims/2732915-036) [predictive/evidenced] -- Half of the respondents indicated that the Dodd-Frank registration and disclosure rules create higher costs that will affect their funds over the next five years, while 17.4 percent expected no effect and 6.5 percent expected lower returns. > while 17.4% believed there was no effect and 6.5% suggest the effect is lower returns, 50% indicated that the Dodd- Frank registration and disclosure rules create higher costs that affect their funds. Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915 - [2732915-038](https://wulfkaal.github.io/claims/2732915-038) [predictive/argued] *(failure mode)* -- The long-term effect of the Dodd-Frank Act on the private investment fund industry is likely to be characterized by increasing additional expenses and associated barriers to entry for new market entrants. > Given these survey results, it seems possible that the long- term effect of the Dodd-Frank Act on the private investment fund industry is characterized by increasing additional expenses and associated levels of barriers to entry for market entrants. Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915 - [2739479-039](https://wulfkaal.github.io/claims/2739479-039) [predictive/evidenced] -- The comparative evidence suggests the long-term effects of the evolving post-Dodd-Frank regulatory environment may be more substantial than either the industry or regulators initially anticipated. > The comparative evidence in this study suggests that long-term ef- fects of the evolving post-Dodd-Frank-Act regulatory environment might be more substantial than the industry and regulators initially anticipated. 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 ## 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/long-term-effects.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.