David K. Musto

TL;DR: In this article, the authors measure the effect of actual short-selling costs and constraints on trading strategies that involve short selling and find the loans of initial public offering (IPO), DotCom, large-cap, growth and low-momentum stocks to be cheap relative to the strategies' documented profits.

TL;DR: This paper found that fund managers inflate late quarter-end portfolio prices with last-minute purchases of stocks already held, and that the stocks held by the funds with the most incentive to inflate their portfolio prices were the stocks with the best performance.

TL;DR: In this article, the authors predict that strategy changes only occur after bad performance, and that bad performers who change strategy have dollar flow and future performance that are less sensitive to current performance than those that do not.

TL;DR: In this article, a comprehensive study of survivorship issues, in the context of mutual fund research, using the mutual fund data set of Carhart (1997), is presented, and the authors find that funds in their sample disappear primarily because of multi-year poor performance, and demonstrate analytically that this survival rule typically causes the survivor bias in average performance to increase in the length of the sample period.

TL;DR: In this article, the authors show that the repricing of retail funds after merging in new shareholders is predicted by the estimated effect on its demand curve, and this result is robust to other influences on repricing, including asset and account-size changes.