Do Prime Brokers Induce Similarities in Hedge Funds Performance?

Gerasimova, Nataliya

doi:10.2139/ssrn.2564243

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2015

2023

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Cited by 7 publications

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“…Eren (2015) develops a theoretical model to show that trading relationships between hedge funds and prime brokers can reflect specialization benefits. Chung and Kang (2016) and Gerasimova (2016) report that the return comovement of hedge funds that share the same prime broker is larger, and that the comovement is likely due to common information. 12 Kumar, Mullally, Ray, and Tang (2017) provide evidence that hedge funds obtain early information from their prime brokers about corporate clients that obtain loans from the prime broker's investment bank.…”

Section: Introductionmentioning

confidence: 99%