Did the STOCK Act Impact the Performance, Risk, and Flow of Hedge Funds?
Meet Shah
Abstract:<p>This research examines hedge funds’ performance, risk, and flow before and after the implementation of the Stop Trading on Congressional Knowledge (STOCK) Act. This 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. Consistent with other studies, the findings suggest that private, confidenti… Show more
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