Paper compares the performance of mutual funds managed by publicly-traded management companies with those managed by private management companies. Joint with Jiaping Qiu . Joint with Y. Kotowitz. Paper examines the way in which investors evaluate risk in deciding which mutual funds to invest . Adviser's Guide to Financial Research , Chapter 6, MacLean Hunter, 1999.
Paper explores the issues involved in measuring mutual fund performance .
The paper develops and empirically tests a model which explains the determinants of the management expenses charged by U.S. equity funds. Joint with Y. Kotowitz . Paper examines the interaction between the flexibility of a firm's production technology and its financial structure using simulation. Joint with V. Aivazian . Paper focuses on the specificity of a firm's assets and the flexibility of its production technology to examine the interaction between production and financing decisions .