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Cited by 474

The DOI matches its Crossref record; 19 of the 19 references it cites were found in a registry or an index.

Careers and Survival: Competition and Risk in the Hedge Fund and CTA Industry

Open access
Brown, Stephen J., Goetzmann, William N., Park, James·2001·The Journal of Finance
DOI 10.1111/0022-1082.00392
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Abstract

Investors in hedge funds and commodity trading advisors (CTAs) are concerned with risk as well as return. We investigate the volatility of hedge funds and CTAs in light of managerial career concerns. We find an association between past performance and risk levels consistent with previous findings for mutual fund managers. Variance shifts depend upon relative rather than absolute fund performance. The importance of relative rankings points to the importance of reputation costs in the investment industry. Our analysis of factors contributing to fund disappearance shows that survival depends on absolute and relative performance, excess volatility, and on fund age.

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Crossref · 10.1111/0022-1082.00392

Cites

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Metadata

Authors
Brown, S. J., Goetzmann, W. N., & Park, J.
Venue
The Journal of Finance
Publisher
Wiley
Published
2001-10
Volume
56
Issue
5
Pages
1869-1886
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.00392
OpenAlex
W2154721935
Cited by
474
References
19
FWCI
24.91
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Careers and Survival: Competition and Risk in the Hedge Fund and CTA Industry. https://app.cochat.ai/papers/10.1111/0022-1082.00392
The paper
Brown, S. J., Goetzmann, W. N., & Park, J. (2001). Careers and Survival: Competition and Risk in the Hedge Fund and CTA Industry. The Journal of Finance. https://doi.org/10.1111/0022-1082.00392

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.