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Wealth Accumulation By Hypogamy In Own And Parental Education In China, Cheng Cheng, Yang Zhou
Wealth Accumulation By Hypogamy In Own And Parental Education In China, Cheng Cheng, Yang Zhou
Research Collection School of Social Sciences
Objective: This study examines how household wealth accumulation varies by different types of hypogamy on the basis of couples' own and parental education. Background: Educational hypogamy (wives having more education than their husbands) is increasingly relevant in many societies, given the reversal of the gender gap in education. Prior research has studied how marital sorting on couples' own education shapes their individual earnings trajectories. Few have examined the implications of marital sorting on parental education for family-level economic well-being. Method: Using data from the 2010–2018 China Family Panel Studies and multilevel growth curve models, this study examined how household wealth …
Race And Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo
Race And Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo
Research Collection Lee Kong Chian School Of Business
We find that minority operated funds deliver higher alphas, Sharpe ratios, and information ratios than do non-minority operated funds. Moreover, minority fund managers attended more selective schools, worked at higher status investment banks, and are more likely to hold post-graduate degrees. Yet, minority managers raise less start-up capital and attract lower investor flows. Racial homophily fuels investors' appetite for non-minority funds. To address endogeneity, we leverage on an event study of minority manager fund transitions and an instrumental variable analysis that exploits racial imprinting during childhood. The results suggest that minorities face significant barriers to entry in the hedge fund …