Juha Joenväärä

Aalto University School of Business

Finland

  • Aalto University School of Business

SCHOLARLY PAPERS

17

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49

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13

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“  Do Activist Hedge Funds Deliver Alpha for Their Investors?  ”

  • Aalto University School of Business

Scholarly Papers (17)

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1.

Raising Capital from Not-So-Sophisticated Investors: Hedge Fund Flows to Name Gravitas

Number of pages: 59 Posted: 23 Mar 2017 Last Revised: 02 Feb 2023
Juha Joenväärä and Cristian Ioan Tiu
Aalto University School of Business and University at Buffalo
Downloads 3,432 (5,976)

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Salience bias, Flows, Behavioral biases, Hedge funds

2.

Hedge Fund Performance: Are Stylized Facts Sensitive to Which Database One Uses?

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Hedge Fund Performance: Are Stylized Facts Sensitive to Which Database One Uses?

Number of pages: 70 Posted: 22 Jan 2012 Last Revised: 02 Apr 2019
Juha Joenväärä, Mikko Kauppila, Robert Kosowski and Pekka Tolonen
Aalto University School of Business, University of Oulu, Imperial College Business School and University of Oulu
Downloads 3,016 (7,243)
Citation 36

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Hedge fund performance, persistence, sample selection bias, managerial skill

Hedge Fund Performance: Are Stylized Facts Sensitive to Which Database One Uses?

Critical Finance Review, Forthcoming
Posted: 25 Mar 2019 Last Revised: 02 Apr 2019
Juha Joenväärä, Mikko Kauppila, Robert Kosowski and Pekka Tolonen
Aalto University School of Business, University of Oulu, Imperial College Business School and University of Oulu

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Hedge fund performance, persistence, sample selection bias, managerial skill

3.

Hedge Fund Performance: End of an Era?

Nicolas P.B. Bollen, Juha Joenväärä & Mikko Kauppila (2021) Hedge Fund Performance: End of an Era?, Financial Analysts Journal, 77:3, 109-132, DOI: 10.1080/0015198X.2021.1921564
Number of pages: 43 Posted: 11 Sep 2017 Last Revised: 19 Aug 2021
Nicolas P. B. Bollen, Juha Joenväärä and Mikko Kauppila
Vanderbilt University - Finance, Aalto University School of Business and University of Oulu
Downloads 2,092 (13,126)
Citation 15

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hedge fund performance

4.

A Bias-Free Assessment of the Hedge Fund Industry: A New Evaluation of Total Assets, Alphas, and the Flow-Performance Relation

OFR WP 20-01
Number of pages: 70 Posted: 27 Feb 2020 Last Revised: 11 Oct 2023
Daniel Barth, Juha Joenväärä, Mikko Kauppila and Russ Wermers
Board of Governors of the Federal Reserve System, Aalto University School of Business, University of Oulu and University of Maryland - Robert H. Smith School of Business
Downloads 1,345 (25,882)
Citation 1

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hedge funds, net assets, gross assets, strategy, domicile, returns, flows

5.

The Effect of Regulatory Constraints on Fund Performance: New Evidence from UCITS Hedge Funds

Downloads 593 (79,527)

The Effect of Regulatory Constraints on Fund Performance: New Evidence from UCITS Hedge Funds

Number of pages: 55 Posted: 24 Apr 2015 Last Revised: 10 Jun 2020
Juha Joenväärä and Robert Kosowski
Aalto University School of Business and Imperial College Business School
Downloads 593 (78,558)

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hedge fund performance, mutual fund performance, managerial skill, regulation, constraints

Effect of Regulatory Constraints on Fund Performance: New Evidence from UCITS Hedge Funds

CEPR Discussion Paper No. DP10577
Number of pages: 79 Posted: 05 May 2015
Juha Joenväärä and Robert Kosowski
Aalto University School of Business and Imperial College Business School
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hedge fund performance, managerial skill, mutual fund performance, regulation

The Effect of Regulatory Constraints on Fund Performance: New Evidence from UCITS Hedge Funds

Review of Finance, Forthcoming
Posted: 18 Jun 2020
Juha Joenväärä and Robert Kosowski
Aalto University School of Business and Imperial College Business School

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hedge fund performance, mutual fund performance, managerial skill, regulation, constraints

6.

A Note on the Valuation of Asset Management Firms

Number of pages: 22 Posted: 02 Sep 2015 Last Revised: 21 Dec 2018
Juha Joenväärä and Bernd Scherer
Aalto University School of Business and EDHEC Business School - Department of Economics & Finance
Downloads 577 (82,253)

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Asset manager, Valuation, Operating Margins

7.

The Vocabulary of Hedge Funds

Number of pages: 57 Posted: 21 Aug 2019 Last Revised: 28 Jun 2021
Juha Joenväärä, Jari Karppinen, Melvyn Teo and Cristian Ioan Tiu
Aalto University School of Business, University of Oulu, Singapore Management University - Lee Kong Chian School of Business and University at Buffalo
Downloads 576 (82,451)
Citation 1

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hedge funds, textual analysis, lexical diversity, vocabulary, linguistic skills, corporate disclosures, cognitive ability, lexical richness

8.

The Effect of Investment Constraints on Hedge Fund Investor Returns

Downloads 538 (89,829)
Citation 6

The Effect of Investment Constraints on Hedge Fund Investor Returns

Number of pages: 83 Posted: 03 Dec 2013 Last Revised: 14 Jan 2018
Juha Joenväärä, Robert Kosowski and Pekka Tolonen
Aalto University School of Business, Imperial College Business School and University of Oulu
Downloads 538 (88,827)

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Hedge Fund Performance, Persistence, Frictions, Managerial Skill

The Effect of Investment Constraints on Hedge Fund Investor Returns

CEPR Discussion Paper No. DP12599
Number of pages: 86 Posted: 22 Jan 2018
Juha Joenväärä, Robert Kosowski and Pekka Tolonen
Aalto University School of Business, Imperial College Business School and University of Oulu
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Citation 5
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frictions, Hedge Fund Performance, Managerial Skill, Persistence

The Effect of Investment Constraints on Hedge Fund Investor Returns

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 19 Jan 2018
Juha Joenväärä, Robert Kosowski and Pekka Tolonen
Aalto University School of Business, Imperial College Business School and University of Oulu

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Hedge Fund Performance, Persistence, Frictions, Managerial Skill

9.

Responsible Investing: Costs and Benefits for University Endowment Funds

Number of pages: 64 Posted: 07 Sep 2019 Last Revised: 26 Jul 2023
George O. Aragon, Yuxiang Jiang, Juha Joenväärä and Cristian Ioan Tiu
Arizona State University (ASU) - Finance Department, Southwestern University of Finance and Economics (SWUFE), Aalto University School of Business and University at Buffalo
Downloads 500 (98,237)
Citation 2

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Endowments, social responsibility, charitable donations, fund performance

10.

Information Content of Hedge Fund Equity Option Holdings

Number of pages: 42 Posted: 23 Nov 2016 Last Revised: 29 Sep 2022
Juha Joenväärä, Mikko Kauppila and Pekka Tolonen
Aalto University School of Business, University of Oulu and University of Oulu
Downloads 385 (133,565)

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Hedge Funds, Informed Trading, Option Return Predictability, Leverage

11.

Hedge Fund Tail Risk: Hedging Mechanisms and Performance

Number of pages: 57 Posted: 15 Jan 2015 Last Revised: 21 Sep 2016
Juha Joenväärä and Mikko Kauppila
Aalto University School of Business and University of Oulu
Downloads 358 (144,715)

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hedge fund performance, tail risk, options, hedging, low-risk anomaly

12.

Share Restrictions, Risk Taking and Hedge Fund Performance

Number of pages: 37 Posted: 27 Jan 2009 Last Revised: 25 Aug 2009
Juha Joenväärä and Pekka Tolonen
Aalto University School of Business and University of Oulu
Downloads 300 (174,627)

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hedge fund performance, cost of illiquidity, lockup period, notice period

13.

The Decline in Hedge Fund Performance Persistence

Number of pages: 54 Posted: 06 Nov 2023
Nicolas P. B. Bollen, Juha Joenväärä and Mikko Kauppila
Vanderbilt University - Finance, Aalto University School of Business and University of Oulu
Downloads 248 (212,617)

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performance persistence, decreasing returns to scale, replication, hedge funds

14.

Institutional Investors’ ETF Usage and Stock Selection Ability

Number of pages: 47 Posted: 04 Aug 2016 Last Revised: 16 Feb 2018
Juha Joenväärä and Hamed Salehi
Aalto University School of Business and University of Oulu - Department of Economics, Accounting and Finance
Downloads 230 (227,930)

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institutional investors, exchange-traded funds, investment style, stock selection ability

15.

Frictional Diversification Costs: Evidence from a Panel of Fund of Hedge Fund Holdings

Number of pages: 51 Posted: 19 Dec 2013 Last Revised: 16 Mar 2018
Juha Joenväärä and Bernd Scherer
Aalto University School of Business and EDHEC Business School - Department of Economics & Finance
Downloads 181 (283,551)
Citation 1

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diversification, hedge funds, fund-of-funds, frictional costs, operational risk

16.

Hedge Fund Performance: Are Stylized Facts Sensitive to Which Database One Uses?

CEPR Discussion Paper No. DP13618
Number of pages: 73 Posted: 01 Apr 2019 Last Revised: 16 Apr 2019
Juha Joenväärä, Mikko Kaupila, Robert Kosowski and Pekka Tolonen
Aalto University School of Business, University of Oulu, Imperial College Business School and University of Oulu
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Hedge Fund Performance, Managerial Skill, Persistence, Sample selection bias

17.

Hedge Fund Portfolio Selection with Fund Characteristics

Journal of Banking and Finance, Vol. 132, No. 17, 2021
Posted: 11 May 2009 Last Revised: 19 Aug 2021
Juha Joenväärä, Hannu Kahra and Mikko Kauppila
Aalto University School of Business, Estonian Business School, Department of Economics and Finance and University of Oulu

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hedge fund performance, portfolio optimization, fund's characteristics, share restrictions, managerial incentive