The hedge fund game

This paper examines theoretical properties of incentive contracts in the hedge fund industry. We show that it is very difficult to structure incentive payments that distinguish between unskilled managers, who cannot generate excess market returns, and skilled managers who can deliver such returns. U...

תיאור מלא

מידע ביבליוגרפי
Main Authors: Foster, D, Young, H
פורמט: Working paper
שפה:English
יצא לאור: 2008
נושאים: