{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,14]],"date-time":"2026-01-14T14:35:56Z","timestamp":1768401356497,"version":"3.49.0"},"reference-count":44,"publisher":"Oxford University Press (OUP)","issue":"3","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2017,5,1]]},"abstract":"<jats:title>Abstract<\/jats:title>\n               <jats:p>The dramatic increase in the percentage of mutual funds lending equities suggests that lending fees are an increasingly important source of income for investment advisors. We find that funds that lend equities underperform otherwise similar funds in spite of lending income. The effect of lending is concentrated in funds that cannot act on the short-selling signal due investment restrictions set by the fund family to diversify their fund offerings across styles. Our findings suggest that the family organization explains why fund managers lend, rather than sell, stocks with short selling demand.<\/jats:p>","DOI":"10.1093\/rof\/rfw059","type":"journal-article","created":{"date-parts":[[2016,9,30]],"date-time":"2016-09-30T15:05:53Z","timestamp":1475247953000},"page":"1093-1121","source":"Crossref","is-referenced-by-count":62,"title":["Fund Performance and Equity Lending: Why Lend What You Can Sell?"],"prefix":"10.1093","volume":"21","author":[{"given":"Richard","family":"Evans","sequence":"first","affiliation":[{"name":"1University of Virginia Darden School of Business"}]},{"given":"Miguel A.","family":"Ferreira","sequence":"additional","affiliation":[{"name":"2Nova School of Business and Economics"}]},{"given":"Melissa","family":"Porras Prado","sequence":"additional","affiliation":[{"name":"2Nova School of Business and Economics"}]}],"member":"286","published-online":{"date-parts":[[2016,11,5]]},"reference":[{"key":"2025100616090386900_rfw059-B1","doi-asserted-by":"crossref","first-page":"461","DOI":"10.1111\/jfir.12043","article-title":"Affiliated agents, board of directors and mutual fund securities lending returns","volume":"37","author":"Adams","year":"2014","journal-title":"Journal of Financial Research"},{"key":"2025100616090386900_rfw059-B2","doi-asserted-by":"crossref","first-page":"273","DOI":"10.1017\/S0022109009090188","article-title":"Hedge funds for retail investors? 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