Humboldt-Universität zu Berlin - Finance Group


Recent Advances in Mutual Fund and Hedge Fund Research

School of Business and Economics, Humboldt University

August 25-26, 2014


Humboldt University, in cooperation with the European School of Management and Technology (ESMT), hosted its second conference on recent advances in mutual fund and hedge fund research on August 25-26, 2014. The goal of the conference was to bring together leading academics interested in asset management in a network environment, so as to provide a forum of discussion on a wide range of theoretical and empirical issues as well as policy implications relating to mutual funds and hedge funds. In total, more than 30 participants attended the conference, coming from North America, Asia, and Europe. The conference was sponsored by the collaborative research centers SFB-TR15 "Governance and the Efficiency of Economic Systems" and SFB649 "Economic Risk".
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Conference Program


Monday, August 25, 2014, ESMT


8:15 – 8:30

Welcome address


Fund Behavior

8:30 – 9:30

Hedge Fund Activists: Do They Take Cues From Institutional Exit?

Nickolay Gantchev (UNC), Chotibhak Jotikasthira (UNC)

Discussant: Eliezer Fich (Drexel)


9:30 – 10:30

Who Trades Against Mispricing?

Mariassunta Giannetti (Stockholm), Bige Kahraman (Stockholm)

Discussant: Francesco Franzoni (Swiss Finance Institute)


10:30 – 11:00

Coffee break

11:00 – 12:00

Do Mutual Funds Have a Say on Pay?

Miriam Schwartz-Ziv (Michigan State), Russ Wermers (Maryland)

Discussant: Tim Adam (Humboldt)

12:00 – 13:30

Lunch: ESMT


Fund Data

13:30 – 14:30

To Group or Not to Group? Evidence from CRSP, Morningstar Principia, and Morningstar Direct Mutual Fund Databases
Saurin Patel (Western Ontario), Sergei Sarkissian (McGill)

Discussant: Alberto Manconi (Tilburg)

14:30 – 15:00

Coffee break


Fund Performance

15:00 – 16:00

A Market-Based Funding Liquidity Measure

Zhuo Chen (Northwestern), Andrea Lu (Northwestern)

Discussant: Xi Dong (INSEAD)


16:00 – 17:00

Asset Management in Commercial Banks: Informational Edge or Conflicts of Interest?

Miguel A. Ferreira (Nova), Pedro Matos (Darden), Pedro Pires (Nova)

Discussant: Bige Kahraman (Stockholm)



Dinner: Restaurant Käfer (Deutscher Bundestag)


Tuesday, August 26, 2014, ESMT



Fund Boards

9:00 – 10:00

Director Connections in the Mutual Fund Industry

Paul Calluzzo (Rutgers)

Discussant: David Stolin (Toulouse Business School)

9:30 – 10:30

Hedge Fund Boards
Christopher Clifford (Kentucky), Jesse Ellis (North Carolina State), William Gerken (Kentucky)

Discussant: Christopher Schwartz (UC Irvine)

10:30 – 11:00 Coffee break
  Fund Flows

11:00 – 12:00

Mutual Fund Shareholder Letter Tone - Do Investors Listen?

Alexander Hillert (Mannheim), Alexandra Niessen-Ruenzi (Mannheim), Stefan Ruenzi (Mannheim)

Discussant: Darwin Choi (HKUST)

12:00 – 13:30

Lunch: ESMT





Tim Adam (HU)
Guillermo Baquero (ESMT)
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 Rudolf v. Bennigsen-Foerder                                  Stiftung für Wissenschaft und Bildung