Research Foundation Occasional Papers
The Research Foundation of CFA Institute is pleased to offer the following Occasional Papers for your review. These works include award-winning papers from various global contests as well as other papers deemed valuable to the global investment community.
To submit a paper for review by our research committee and advisory board, please contact the Research Foundation.
Endogenous Benchmarks
Source: Asian Finance Association Award
Sponsors: CFA Institute, Research Foundation of CFA Institute, and the Asian Finance Association
Authors: David Hunter | Eugene Kandel | Shmuel Kandel | Russell Wermers
This paper is a recipient of the award for Best Paper on Asia Pacific Investments at the Asia Finance Association 2011 Annual Conference. The award was sponsored by the Research Foundation of CFA Institute.
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Hedge Funds, Active Management, and the Asset Allocation Decision: A Descriptive Framework
Source: Advanced Portfolio Management
Author: Roy D. Henriksson
"Hedge Funds, Active Management, and the Asset Allocation Decision" has been selected by Larry Siegel, Research Director of the Research Foundation, as an Occasional Paper that provides valuable insights for global investment professionals. Henriksson evaluates the role of hedge funds in investor portfolios and explores whether they should be considered as a separate asset class or a form of active management.
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The Long and Short of Leveraged ETFs: The Financial Crisis and Performance Attribution
Source: Toronto CFA Society Hillsdale Research Award
Author: Pauline M. Shum
This is the winning paper from the Toronto CFA Society Hillsdale Research Award (2011). This paper establishes a framework for assessing the performance of leveraged ETFs. The author proposes a way to distinguish compounding, fund management, and trading/premium discounts, and how each impacts the assessment of fund performance.
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Private Placements, Regulatory Restrictions, and Firm Value: Theory and Evidence from the Indian Market
Source: Asian Finance Association Award
Sponsors: CFA Institute, Research Foundation of CFA Institute, and the Asian Finance Association
Authors: V. Ravi Anshuman | Vijaya B. Marisetty | Marti G. Subrahmanyam
This paper is a recipient of the award for Best Paper on Asia Pacific Investments at the Asia Finance Association 2011 Annual Conference. The award was sponsored by the Research Foundation of CFA Institute.
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