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Paper by Melvyn Teo
This paper analyzes the relationship between the risk-adjusted performance of hedge funds and their proximity to investments using data on Asian hedge funds. We find, relative to an augmented Fung and Hsieh (2004) factor model, that hedge funds with a physical presence (head or research office) in their investment region outperform other hedge funds by 5.28 percent per year. …
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16 January, 2008| Economy |
@ 12:16
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