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 "identifier": "kaal:entity:profitability",
 "name": "Profitability",
 "termCode": "profitability",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2150377-031",
   "identifier": "kaal:claim:2150377-031",
   "text": "Of the respondents reporting an effect on management company profits, 87.50% attributed it specifically to increased costs and decreased profits caused by the registration and reporting requirements.",
   "abstract": "Of those who responded, 87.50% indicated that the profits of their investment company were affected by increased costs and decreased profits as a result of the registration and reporting 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": [
    "the 78.26% of respondents who reported that management company profits were affected"
   ],
   "source_pdf_sha256": "0b58bb409cac7674d78515f5374096f9a349de3bbd1983c990e0edc85a635a09",
   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2389416-002",
   "identifier": "kaal:claim:2389416-002",
   "text": "Contrary to the hedge fund industry's claim that increased supervision and disclosure would harm profitability, the authors find statistical evidence that the Dodd-Frank Act requirements had a positive effect on hedge fund performance.",
   "abstract": "Contrary to the hedge fund industry's claims that increased supervision and disclosure would affect their profitability, we find statistical evidence of a positive effect of the requirements introduced by the Dodd- Frank Act on hedge fund performance.",
   "citation": "Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416",
   "datePublished": "2014",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "US hedge fund advisers subject to Title IV",
    "sample period January to October 2012"
   ],
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2739479-010",
   "identifier": "kaal:claim:2739479-010",
   "text": "The private fund industry generated a disproportionate share of asset management profits: it produced 34 percent of the industry's 2013 profits, $31.2 billion of $93.0 billion, while controlling only 4 percent of total AUM.",
   "abstract": "Although it manages only 4% of the global asset management indus- try's total AUM ($2.8 trillion out of $68.7 trillion),121 the private fund industry represented 34% of profits generated by that industry in 2013 ($31.2 billion out of $93.0 billion).",
   "citation": "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",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "global asset management industry",
    "2013 profit figures"
   ],
   "source_pdf_sha256": "b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2816408-020",
   "identifier": "kaal:claim:2816408-020",
   "text": "The absence of any statistically significant effect of mandatory disclosure on hedge fund returns suggests that the transparency costs associated with disclosure do not significantly affect the profitability of hedge fund advisers.",
   "abstract": "The absence of any statistical significant effect of mandatory disclosure on hedge fund returns may suggest that the transparency costs associated with disclosure do not significantly affect the profitability of hedge fund advisers.",
   "citation": "Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Private Fund Performance  – Evidence from 2010 – 2015 (2016). SSRN: https://ssrn.com/abstract=2816408",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "conditional on the null RD result",
    "US hedge fund advisers around the $150 million threshold"
   ],
   "source_pdf_sha256": "dc3b2f9e60e42ea1b42c2e0062d65569675b014c05fcd30b15ad44d2410b2ce7",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2816408-032",
   "identifier": "kaal:claim:2816408-032",
   "text": "For much of its history the private fund industry has treated adviser registration and disclosure of proprietary information as a threat to its profitability, a view this study's evidence does not support.",
   "abstract": "For much of its history, the private fund industry has viewed private fund adviser registration and the disclosure of proprietary information as a threat to its profitability.",
   "citation": "Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Private Fund Performance  – Evidence from 2010 – 2015 (2016). SSRN: https://ssrn.com/abstract=2816408",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "argued",
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    "private fund industry over its history"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3405660-037",
   "identifier": "kaal:claim:3405660-037",
   "text": "The author concedes a standing tension: hedge funds must remain secretive because less market information about their activities is what keeps them profitable, which limits how far any transparency oriented reform can go.",
   "abstract": "On the other hand, however, hedge funds need to remain in secrecy because the less information the market has about hedge fund's activities, the easier it is for them to stay profitable.",
   "citation": "Kaal, Indirect Regulation of Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3405660",
   "datePublished": "2019",
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   "confidence": "argued",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-004",
   "identifier": "kaal:claim:3782205-004",
   "text": "A DAO will not be a genuinely profitable addition to the economy until decentralized versions of the legal system, the political system, the media, banking, and other services exist to support it.",
   "abstract": "The legal system, the political system, the media, banking, and other services are all needed before the first DAO will be a genuinely profitable addition to our economy.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "profit-seeking DAOs competing in the contemporary economy"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-017",
   "identifier": "kaal:claim:3782205-017",
   "text": "No profit-seeking decentralized organization can succeed against centralized competitors in the contemporary marketplace until all eight institutional problems are solved at once.",
   "abstract": "Finally, no decentralized organization devoted to profit can be successful in the contemporary marketplace against centralized organizations until eight big problems are solved, all at once.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "failure",
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 "description": "8 claims in the published works of Wulf A. Kaal carry the concept tag 'profitability'. Derived node: a roster, not an adjudicated definition."
}