{"title":"《股票法案》是否影响了对冲基金的业绩、风险和流动?","authors":"Laleh Samarbakhsh, Meet Shah","doi":"10.1108/ijmf-04-2021-0174","DOIUrl":null,"url":null,"abstract":"PurposeThis research aims to examine hedge funds’ performance, risk and flow before and after the implementation of the Stop Trading on Congressional Knowledge (STOCK) Act.Design/methodology/approachThis paper includes the use of different factor models to highlight the performance and risk of hedge funds before and after the implementation of the STOCK Act. Hedge fund holdings are retrieved from Thomson Reuters Lipper Hedge Fund Database (TASS).FindingsThis study finds significant differences before and after the implementation of the STOCK Act. The results for the entire sample period indicate that hedge funds suffered lower-alpha, standard deviation and idiosyncratic risk after the implementation of the STOCK Act.Originality/valueThe paper’s originality and value lie in addressing the relationship gap between the STOCK Act and hedge fund performance.","PeriodicalId":138725,"journal":{"name":"PSN: Markets & Investment (Topic)","volume":"67 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Did the STOCK Act Impact the Performance, Risk, and Flow of Hedge Funds?\",\"authors\":\"Laleh Samarbakhsh, Meet Shah\",\"doi\":\"10.1108/ijmf-04-2021-0174\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"PurposeThis research aims to examine hedge funds’ performance, risk and flow before and after the implementation of the Stop Trading on Congressional Knowledge (STOCK) Act.Design/methodology/approachThis paper includes the use of different factor models to highlight the performance and risk of hedge funds before and after the implementation of the STOCK Act. Hedge fund holdings are retrieved from Thomson Reuters Lipper Hedge Fund Database (TASS).FindingsThis study finds significant differences before and after the implementation of the STOCK Act. The results for the entire sample period indicate that hedge funds suffered lower-alpha, standard deviation and idiosyncratic risk after the implementation of the STOCK Act.Originality/valueThe paper’s originality and value lie in addressing the relationship gap between the STOCK Act and hedge fund performance.\",\"PeriodicalId\":138725,\"journal\":{\"name\":\"PSN: Markets & Investment (Topic)\",\"volume\":\"67 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-04-07\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"PSN: Markets & Investment (Topic)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1108/ijmf-04-2021-0174\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"PSN: Markets & Investment (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/ijmf-04-2021-0174","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Did the STOCK Act Impact the Performance, Risk, and Flow of Hedge Funds?
PurposeThis research aims to examine hedge funds’ performance, risk and flow before and after the implementation of the Stop Trading on Congressional Knowledge (STOCK) Act.Design/methodology/approachThis paper includes the use of different factor models to highlight the performance and risk of hedge funds before and after the implementation of the STOCK Act. Hedge fund holdings are retrieved from Thomson Reuters Lipper Hedge Fund Database (TASS).FindingsThis study finds significant differences before and after the implementation of the STOCK Act. The results for the entire sample period indicate that hedge funds suffered lower-alpha, standard deviation and idiosyncratic risk after the implementation of the STOCK Act.Originality/valueThe paper’s originality and value lie in addressing the relationship gap between the STOCK Act and hedge fund performance.
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