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Narayan Y. Naik

London Business School - Institute of Finance and Accounting

Associate Professor of Finance

Sussex Place

Regent's Park

London NW1 4SA

United Kingdom

  • London Business School - Institute of Finance and Accounting

    • Email
    • Tel: +44 20 7262 5050
    • Fax: +44 20 724 3317
SCHOLARLY PAPERS

39

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CITATIONS
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834

Scholarly Papers (39)

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1.

Hedge Funds: Performance, Risk, and Capital Formation

Downloads 5,503 ( 936)
Citation 118

Hedge Funds: Performance, Risk, and Capital Formation

The Journal of Finance, Vol. LXIII, No. 4, August 2008
Number of pages: 44 Posted: 16 Aug 2005 Last Revised: 11 Jul 2011
William Fung, David A. Hsieh, Tarun Ramadorai and Narayan Y. Naik
Maple Financial Group, Duke University - Fuqua School of Business, Imperial College London and London Business School - Institute of Finance and Accounting
Downloads 5,449 (930)
Citation 118

Abstract:

hedge funds, funds-of-funds, performance, alpha, survival, flows, capacity constraints

Hedge Funds: Performance, Risk and Capital Formation

CEPR Discussion Paper No. 5565
Number of pages: 33 Posted: 27 Jun 2006
William Fung, David A. Hsieh, Tarun Ramadorai and Narayan Y. Naik
Maple Financial Group, Duke University - Fuqua School of Business, Imperial College London and London Business School - Institute of Finance and Accounting
Downloads 54 (318,035)
Citation 118

Abstract:

Hedge funds, performance, alpha, factor models, flow, funds-of-hedge funds

2.

On Taking the 'Alternative' Route: Risks, Rewards, Style and Performance Persistence of Hedge Funds

Number of pages: 39 Posted: 25 Feb 1999
Vikas Agarwal and Narayan Y. Naik
Georgia State University and London Business School - Institute of Finance and Accounting
Downloads 3,530 (1,899)
Citation 36

Abstract:

3.

Performance Evaluation of Hedge Funds with Option-Based and Buy-and-Hold Strategies

EFA 0373; FA Working Paper No. 300
Number of pages: 51 Posted: 04 Oct 2000
Vikas Agarwal and Narayan Y. Naik
Georgia State University and London Business School - Institute of Finance and Accounting
Downloads 2,736 (2,908)
Citation 31

Abstract:

4.

Risk and Return in Convertible Arbitrage: Evidence from the Convertible Bond Market

Journal of Empirical Finance, Forthcoming
Number of pages: 57 Posted: 15 Aug 2008 Last Revised: 15 Jan 2011
Vikas Agarwal, William Fung, Yee Cheng Loon and Narayan Y. Naik
Georgia State University, Maple Financial Group, Securities and Exchange Commission (SEC) and London Business School - Institute of Finance and Accounting
Downloads 2,444 (3,403)
Citation 22

Abstract:

Hedge Funds, Convertible Bonds, Convertible Arbitrage, Supply, Risk Factors

5.

Flows, Performance, and Managerial Incentives in Hedge Funds

EFA 2003 Annual Conference Paper No. 501
Number of pages: 44 Posted: 03 Nov 2003
Vikas Agarwal, Naveen D. Daniel and Narayan Y. Naik
Georgia State University, Drexel University - Department of Finance and London Business School - Institute of Finance and Accounting
Downloads 2,214 (4,147)
Citation 57

Abstract:

6.

Multi-Period Performance Persistence Analysis of Hedge Funds

Downloads 2,067 ( 5,182)
Citation 117

Multi-Period Performance Persistence Analysis of Hedge Funds

Number of pages: 27 Posted: 23 Feb 2000
Vikas Agarwal and Narayan Y. Naik
Georgia State University and London Business School - Institute of Finance and Accounting
Downloads 2,067 (5,077)
Citation 117

Abstract:

Multi-Period Performance Persistence Analysis of Hedge Funds

Journal of Financial and Quantitative Analysis, Vol. 35, No. 3, September 2000
Posted: 09 Mar 2001
Vikas Agarwal and Narayan Y. Naik
Georgia State University and London Business School - Institute of Finance and Accounting

Abstract:

Hedge funds, performance, persistence

7.

Do Hedge Funds Deliver Alpha? A Bayesian and Bootstrap Analysis

Downloads 1,928 ( 5,802)
Citation 86

Do Hedge Funds Deliver Alpha? A Bayesian and Bootstrap Analysis

Number of pages: 47 Posted: 01 Nov 2005
Robert Kosowski, Narayan Y. Naik and Melvyn Teo
Imperial College Business School, London Business School - Institute of Finance and Accounting and Singapore Management University - Lee Kong Chian School of Business
Downloads 1,928 (5,672)
Citation 86

Abstract:

hedge fund, persistence, Bayesian, alpha, backfill, incubation, bootstrap

Do Hedge Funds Deliver Alpha? A Bayesian and Bootstrap Analysis

Journal of Financial Economics (JFE), Vol. 84, No. 1, 2007
Posted: 19 Dec 2011
Robert Kosowski, Narayan Y. Naik and Melvyn Teo
Imperial College Business School, London Business School - Institute of Finance and Accounting and Singapore Management University - Lee Kong Chian School of Business

Abstract:

Hedge fund performance, Persistence, Alpha, Factor models, Bayesian, Bootstrap

8.

Hedge Funds, Managerial Skill, and Macroeconomic Variables

Downloads 1,547 ( 8,503)
Citation 15

Hedge Funds, Managerial Skill, and Macroeconomic Variables

AFA 2008 New Orleans Meetings Paper
Number of pages: 47 Posted: 22 Mar 2007 Last Revised: 15 Nov 2013
Doron Avramov, Robert Kosowski, Narayan Y. Naik and Melvyn Teo
Hebrew University of Jerusalem - Jerusalem School of Business Administration, Imperial College Business School, London Business School - Institute of Finance and Accounting and Singapore Management University - Lee Kong Chian School of Business
Downloads 1,547 (8,343)
Citation 15

Abstract:

hedge funds, predictability, managerial skills, macroeconomic variables

Hedge Funds, Managerial Skill, and Macroeconomic Variables

Journal of Financial Economics, Vol. 99, Issue 3, pp. 672-692, March 2011
Posted: 22 Feb 2010 Last Revised: 15 Nov 2013
Doron Avramov, Robert Kosowski, Narayan Y. Naik and Melvyn Teo
Hebrew University of Jerusalem - Jerusalem School of Business Administration, Imperial College Business School, London Business School - Institute of Finance and Accounting and Singapore Management University - Lee Kong Chian School of Business

Abstract:

Hedge Funds, Predictability, Managerial Skills, Macroeconomic Variables

9.

Role of Managerial Incentives and Discretion in Hedge Fund Performance

Journal of Finance, Forthcoming
Number of pages: 53 Posted: 08 Mar 2006 Last Revised: 11 Oct 2008
Vikas Agarwal, Naveen D. Daniel and Narayan Y. Naik
Georgia State University, Drexel University - Department of Finance and London Business School - Institute of Finance and Accounting
Downloads 1,494 (8,336)
Citation 89

Abstract:

Hedge Funds, Managerial Incentives, Discretion, Performance, Delta, Lockup Period

10.

Testing for Adverse Selection in Life Settlements: The Secondary Market for Life Insurance Policies

Number of pages: 38 Posted: 14 Jun 2013 Last Revised: 06 Jun 2016
Afonso V. Januario and Narayan Y. Naik
Schroders and London Business School - Institute of Finance and Accounting
Downloads 1,260 (107,440)

Abstract:

life settlements, secondary market for life insurance, adverse selection, longevity risk

11.

Hedge Funds for Retail Investors? An Examination of Hedged Mutual Funds

Journal of Financial and Quantitative Analysis (JFQA), Vol. 44, No. 2, 2009
Number of pages: 47 Posted: 19 Mar 2006 Last Revised: 04 Dec 2012
Nicole M. Boyson, Vikas Agarwal and Narayan Y. Naik
Northeastern University - D’Amore-McKim School of Business, Georgia State University and London Business School - Institute of Finance and Accounting
Downloads 1,159 (12,421)
Citation 15

Abstract:

Hedge funds, mutual funds, hedged mutual funds, hybrid mutual funds

12.

Do Hedge Funds Manage Their Reported Returns?

The Review of Financial Studies, Forthcoming
Number of pages: 59 Posted: 16 Mar 2006 Last Revised: 08 Jan 2011
Vikas Agarwal, Naveen D. Daniel and Narayan Y. Naik
Georgia State University, Drexel University - Department of Finance and London Business School - Institute of Finance and Accounting
Downloads 863 (19,975)
Citation 13

Abstract:

Hedge Funds, Incentives, Returns Management, December effect

13.

Market Quality and Trader Behavior in a Manipulated Market: Anatomy of a Squeeze

EFA 2002 Berlin Meetings Presented Paper
Number of pages: 53 Posted: 22 Mar 2002
Narayan Y. Naik, Pradeep K. Yadav and John J. Merrick Jr.
London Business School - Institute of Finance and Accounting, University of Oklahoma Price College of Business and College of William and Mary - Mason School of Business
Downloads 776 (23,939)
Citation 1

Abstract:

Price manipulation, Futures markets, Squeeze

14.

Risk Management with Derivatives by Dealers and Market Quality in Government Bond Markets

Downloads 647 ( 31,777)
Citation 21

Risk Management with Derivatives by Dealers and Market Quality in Government Bond Markets

London Business School, IFA Working Paper No. 338
Number of pages: 51 Posted: 22 Oct 2001
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 520 (41,844)
Citation 21

Abstract:

Risk Management with Derivatives by Dealers and Market Quality in Government Bond Markets

NYU Working Paper No. FIN-01-013
Number of pages: 51 Posted: 03 Nov 2008
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 77 (262,332)
Citation 20

Abstract:

Risk Management with Derivatives by Dealers and Market Quality in Government Bond Markets

NYU Working Paper No. S-DRP-01-12
Number of pages: 51 Posted: 07 Nov 2008
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 50 (330,049)
Citation 20

Abstract:

Risk Management with Derivatives by Dealers and Market Quality in Government Bond Markets

Journal of Finance, Vol. 58, pp. 1873-1904, October 2003
Posted: 06 Oct 2003
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business

Abstract:

15.

How Do Dealers in Government Bond Markets Manage Their Spot Risk with Derivatives? Evidence from London

AFA 2002 Atlanta Meetings; IFA Working Paper No. 301
Number of pages: 53 Posted: 10 Apr 2000
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 557 (38,015)

Abstract:

16.

Volatility of Aggregate Volatility and Hedge Fund Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 64 Posted: 29 Sep 2014 Last Revised: 29 Jul 2016
Vikas Agarwal, Yakup Eser Arısoy and Narayan Y. Naik
Georgia State University, Université Paris Dauphine - DRM Finance and London Business School - Institute of Finance and Accounting
Downloads 438 (7,120)

Abstract:

Uncertainty, volatility of volatility, hedge funds, performance

17.

The Effects of Market Reform on Trading Costs of Public Investors: Evidence from the London Stock Exchange

EFA 0372; London Business School, Institute of Finance & Accounting Working Paper No. 296
Number of pages: 48 Posted: 16 Aug 1999
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 434 (50,172)
Citation 10

Abstract:

18.

Preferencing, Internalization, Best Execution and Dealer Profits

Downloads 366 ( 65,256)
Citation 51

Preferencing, Internalization, Best Execution and Dealer Profits

Number of pages: 53 Posted: 06 Dec 1997
Oliver Hansch, S. Viswanathan and Narayan Y. Naik
Pennsylvania State University, Duke University - Fuqua School of Business and London Business School - Institute of Finance and Accounting
Downloads 366 (64,630)
Citation 51

Abstract:

Preferencing, Internalization, Best Execution, and Dealer Profits

Journal of Finance
Posted: 08 Aug 1998
Oliver Hansch, S. Viswanathan and Narayan Y. Naik
Pennsylvania State University, Duke University - Fuqua School of Business and London Business School - Institute of Finance and Accounting

Abstract:

19.

Portfolio Considerations in Risk Management by Financial Intermediaries: Evidence from Trading Behaviour of London Equity Dealers

EFA 2001 Barcelona Meetings
Number of pages: 54 Posted: 14 Jul 2001
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 344 (68,778)

Abstract:

20.

Is Stellar Hedge Fund Performance for Real?

Number of pages: 50 Posted: 12 Mar 2005
Robert Kosowski, Narayan Y. Naik and Melvyn Teo
Imperial College Business School, London Business School - Institute of Finance and Accounting and Singapore Management University - Lee Kong Chian School of Business
Downloads 298 (76,461)
Citation 1

Abstract:

Hedge funds, bootstrap, alpha, persistence

21.

Dealer Behaviour and Market Quality when Insiders Trade

Number of pages: 44 Posted: 05 Mar 2002
Narayan Y. Naik, Pradeep K. Yadav and David Hillier
London Business School - Institute of Finance and Accounting, University of Oklahoma Price College of Business and University of Strathclyde - Department of Accounting and Finance
Downloads 296 (80,325)

Abstract:

Market Quality, Inventory Control, Insider Trading

22.

Do Inventories Matter In Dealership Markets? Evidence From the London Stock Exchange

Downloads 236 (106,059)
Citation 59

Do Inventories Matter In Dealership Markets? Evidence From the London Stock Exchange

Number of pages: 60 Posted: 03 Sep 1997
Oliver Hansch, S. Viswanathan and Narayan Y. Naik
Pennsylvania State University, Duke University - Fuqua School of Business and London Business School - Institute of Finance and Accounting
Downloads 236 (105,599)
Citation 59

Abstract:

Do Inventories Matter In Dealership Markets? Evidence From the London Stock Exchange

Journal of Finance
Posted: 19 Mar 1998
Oliver Hansch, S. Viswanathan and Narayan Y. Naik
Pennsylvania State University, Duke University - Fuqua School of Business and London Business School - Institute of Finance and Accounting

Abstract:

23.

Do Dealer Firms Manage Inventory on a Stock-by-Stock or a Portfolio Basis?

EFA 2002 Berlin Meetings Presented Paper
Number of pages: 42 Posted: 22 Mar 2002
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 227 (103,360)
Citation 22

Abstract:

Dealer firm, equivalent inventory, correlated risk exposure, unhedgeable risk, effective spreads

24.

Trading Costs of Public Investors with Obligatory and Voluntary Market-Making: Evidence from Market Reforms

EFA 2003 Annual Conference Paper No. 408
Number of pages: 50 Posted: 07 Aug 2003
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 216 (107,440)
Citation 10

Abstract:

25.

Hedge Funds: A Survey of the Academic Literature

Foundations and Trends in Finance, Forthcoming
Number of pages: 120 Posted: 27 Aug 2015
Vikas Agarwal, Kevin Mullally and Narayan Y. Naik
Georgia State University, University of Alabama and London Business School - Institute of Finance and Accounting
Downloads 169 (14,554)

Abstract:

Hedge Funds, Alternative Investments, Long/Short

26.

Do Correlated Exposures Influence Intermediary Decision-making? Evidence from Trading Behavior of Equity Dealers

London Bus. School, Institute of Finance & Accounting Working Paper No. 337
Number of pages: 41 Posted: 18 Oct 2001
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 150 (158,707)
Citation 1

Abstract:

Dealer firm, equivalent inventory, correlated risk exposure, unhedgeable risk, effective spreads

27.

Herding and Delegated Portfolio Management: The Impact of Relative Performance Evaluation on Asset Allocation

IFA Working Paper 223-1996
Number of pages: 41 Posted: 19 May 1998 Last Revised: 19 Dec 2013
Ernst G. Maug and Narayan Y. Naik
University of Mannheim Business School and London Business School - Institute of Finance and Accounting
Downloads 141 (76,461)
Citation 17

Abstract:

28.

Alpha Decay and Strategic Trading

Paris December 2015 Finance Meeting EUROFIDAI - AFFI, SFS Finance Cavalcade 2016
Number of pages: 60 Posted: 21 Mar 2015 Last Revised: 01 Jun 2016
Rick Di Mascio, Anton Lines and Narayan Y. Naik
Inalytics Limited, London Business School and London Business School - Institute of Finance and Accounting
Downloads 127 (45,801)

Abstract:

Private Information, Price Formation, Trading Behaviour, Institutional Investors

29.

Growing the Asset Management Franchise: Evidence from Hedge Fund Firms

Number of pages: 54 Posted: 24 Dec 2014 Last Revised: 22 Aug 2016
William Fung, David A. Hsieh, Narayan Y. Naik and Melvyn Teo
Maple Financial Group, Duke University - Fuqua School of Business, London Business School - Institute of Finance and Accounting and Singapore Management University - Lee Kong Chian School of Business
Downloads 101 (92,459)
Citation 1

Abstract:

first funds, hedge fund firms, agency problems

30.

Do Correlated Exposures Influence Intermediary Decision-Making? Evidence from Trading Behavior of Equity Dealers

NYU Working Paper No. FIN-01-014
Number of pages: 41 Posted: 03 Nov 2008
Narayan Y. Naik and Pradeep K. Yadav
London Business School - Institute of Finance and Accounting and University of Oklahoma Price College of Business
Downloads 32 (377,126)
Citation 1

Abstract:

Dealer firm, equivalent inventory, correlated risk exposure, unhedgeable risk, effective spreads

31.

Capacity Constraints and Hedge Fund Strategy Returns

European Financial Management, Vol. 13, No. 2, pp. 239-256, March 2007
Number of pages: 18 Posted: 04 Mar 2007
Narayan Y. Naik, Tarun Ramadorai and Maria Strömqvist
London Business School - Institute of Finance and Accounting, Imperial College London and Brummer & Partners
Downloads 29 (393,028)
Citation 32

Abstract:

32.

Demystifying Hedge Funds

Business Strategy Review, Vol. 18, No. 2, pp. 68-72, Summer 2007
Number of pages: 5 Posted: 18 Jun 2007
Narayan Y. Naik and Mark Tapley
London Business School - Institute of Finance and Accounting and London Business School - Centre for Hedge Fund Research and Education
Downloads 27 (401,732)

Abstract:

33.

Hedge Funds

Foundations and Trends in Finance, Vol. 1, No. 2, 2005
Number of pages: 68 Posted: 24 Jun 2010
Vikas Agarwal and Narayan Y. Naik
Georgia State University and London Business School - Institute of Finance and Accounting
Downloads 12 (482,554)
Citation 9

Abstract:

34.

Risks and Portfolio Decisions Involving Hedge Funds

Review of Financial Studies, Forthcoming
Posted: 21 Apr 2003
Vikas Agarwal and Narayan Y. Naik
Georgia State University and London Business School - Institute of Finance and Accounting

Abstract:

hedge funds, option-based trading strategies, conditional Value-at-Risk, tail risk and multifactor models

35.

Trade Disclosure Regulation in Markets with Negotiated Trades

Review Of Financial Studies, Vol. 12, Issue 3, 1999
Posted: 03 Jun 1999
Narayan Y. Naik, S. Viswanathan and Anthony Neuberger
London Business School - Institute of Finance and Accounting, Duke University - Fuqua School of Business and Cass Business School, City, University of London

Abstract:

36.

Disclosure Regulation in Competitive Dealership Markets: Analysis of the London Stock Exchange

London Business School Institute of Finance and Accounting Working Paper 193
Posted: 04 Nov 1998
Narayan Y. Naik, S. Viswanathan and Anthony Neuberger
London Business School - Institute of Finance and Accounting, Duke University - Fuqua School of Business and Cass Business School, City, University of London

Abstract:

37.

Spin-Offs and Information

Posted: 22 Aug 1998
Michel A. Habib, D. Bruce Johnsen and Narayan Y. Naik
University of Zurich, George Mason University - School of Law and London Business School - Institute of Finance and Accounting

Abstract:

38.

Bid-Ask Bias in Cumulated Returns: An Analytical Approach

Downloads 0 (553,475)

Bid-Ask Bias in Cumulated Returns: An Analytical Approach

European Financial Management
Posted: 09 Jan 1998
Narayan Y. Naik and Vinay T. Datar
London Business School - Institute of Finance and Accounting and Seattle University

Abstract:

Bid-Ask Bias in Cumulated Returns: An Analytical Approach

European Financial Management, Vol 4, 1 March 1998
Posted: 05 May 1998
Vinay T. Datar and Narayan Y. Naik
Seattle University and London Business School - Institute of Finance and Accounting

Abstract:

39.

Spinoffs and Information

J. OF FINANCIAL INTERMEDIATION, Vol. 6 No. 2
Posted: 09 Jun 1997
Michel A. Habib, D. Bruce Johnsen and Narayan Y. Naik
University of Zurich, George Mason University - School of Law and London Business School - Institute of Finance and Accounting

Abstract:

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