Andrea Rossi - Assistant Professor of Finance - University of Arizona
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Research Interests
Investments and Asset Management (Private Equity, Mutual Funds, Hedge Funds), Financial Markets, Investor Behavior

Publications
1. Industry Familiarity and Trading: Evidence from the Personal Portfolios of Industry Insiders
with Itzhak Ben-David and Justin Birru 
  • Journal of Financial Economics, Volume 132 (2019).  
  • ​Read: (SSRN Link) (JFE Link)
  • Media coverage: Alpha Architect
​​2. What do Mutual Fund Investors Really Care About? 
with Itzhak Ben-David, Jiacui Li, and Yang Song
  • Review of of Financial Studies, Volume 35 (2022). 
  • Read: ​(SSRN Link)  (RFS Link)
  • ​Media coverage: Yahoo! Finance, ETF.com, Columbia Law School’s Blue Sky Blog, CXO Advisory Gruop, CityWire, Alpha Architect, Alpha Architect 2
​​3. Ratings-Driven Demand and Systematic Price Fluctuations
with Itzhak Ben-David, Jiacui Li, and Yang Song
  • Review of of Financial Studies, Volume 35 (2022). ​
  • Read: ​(SSRN Link)  (RFS LINK)​

Working Papers
​​1. Decreasing Returns or Reversion to the Mean? The Case of Private Equity Fund Growth
  • (Download Paper)
  • Finalist Research Award (top 5 papers), European Investment Forum 2019
  • Media coverage: Tuck Forum on Private Equity and Venture Capital, European Investment Forum, Institutional Investor, Coller Capital: Private Equity Findings ​​
​​2. Unsmoothing Returns of Illiquid Funds 
with Spencer Couts and Andrei Goncalves​
  • (Download Paper)
  • Revise and Resubmit at RFS
  • ​Media coverage: Canadian Investment Review
​​3. The Performance of Hedge Fund Performance Fees 
with Itzhak Ben-David and Justin Birru​​
  • (Download Paper)
  • ​Media coverage: Wall Street Journal, Financial Times, National Review, Institutional Investor, Promarket, CNBC, The Evidence-Based Investor, Wealth Professional, Market Watch, Naked Capitalism, Opalesque, Institutional-Money, Toronto Star
​​4. Discontinued Positive Feedback Trading and the Decline of Return Predictability
with Itzhak Ben-David, Jiacui Li, and Yang Song
  • (Download Paper)​​
  • Revise and Resubmit at JFQA
​​5. Moving the Goalposts? Mutual Fund Benchmark Changes and Performance Manipulation
with Kevin Mullally
  • ​(Download Paper)
  • Revise and Resubmit at RFS
  • Media coverage: Wall Street Journal, The Evidence-Based Investor, Advisor Perspectives​

Work in Progress
​​1. Where Do Leveraged Buyout Fund Returns Come From?
with Berk Sensoy

​​2. How Smart Are Smart Investors?
with Kevin Mullally
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