Publication Type

PhD Dissertation

Publication Date

12-2016

Abstract

This paper shows that after controlling for total risks (as funds do not typically hold a completely large diversified portfolio) across different funds, female-managed funds appear to perform better in certain circumstances. For example, female-managed hedge funds perform better during post-crisis times, for investments using the Relative Value Style and also when investments are in the Asia excluding Japan region. However, there are still many conditions in which male-managed funds seem to perform better. Namely, male-managed funds performed significantly positive in the Relative Value, Security Selection, and Multiprocess Styles, notably during the pre-crisis period and also when investments are in the "America" and "Others" regions. The study also shows that females definitely do not like to take risks and female-managed funds have lesser inflows relative to male-managed funds, especially when the funds' returns are small. Moreover, fund flows into and out of female-managed funds are more sensitive to the return outcomes.

Keywords

hedge fund, gender, finance, performance

Degree Awarded

PhD in Business (General Management)

Discipline

Finance and Financial Management

Supervisor(s)

ZERRILLO, Philip Charles

First Page

1

Last Page

69

Publisher

Singapore Management University

City or Country

Singapore

Copyright Owner and License

Author

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Available for download on Saturday, January 18, 2020

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