Veronika Krepely Pool

Academic Degrees

• PhD, Finance, Vanderbilt University, 2006

Selected Publications

• Pool, Veronika K., Clemens Sialm, and Irina Stefanescu (2016), “It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans,” Journal of Finance, 71(4): 1779-1812.
• Pool, Veronika Krepely, Noah Stoffman, and Scott Yonker (2015), "The People in Your Neighborhood: Social Interactions and Mutual Fund Portfolios," Journal of Finance, 70(6): 2679-2732.

Abstract We find that socially connected fund managers have more similar holdings and trades. The portfolio overlap of funds whose managers reside in the same neighborhood is considerably higher than that of funds whose managers live in the same city but in different neighborhoods. These effects are larger when managers are neighbors longer or are of a similar ethnic background, and are not explained by preferences. Valuable information is transmitted through these peer networks: a long-short strategy composed of stocks purchased minus sold by neighboring managers delivers positive risk-adjusted returns. Unlike prior empirical work, our tests disentangle the effects of social interactions from community effects.

• Pool, Veronika K., Utpal Bhattacharya, and Jung Hoon Lee (2013), “Conflicting Family Values in Mutual Fund Families,” Journal of Finance 68, 173-200.
• Bollen, Nick and Veronika K. Pool (2012), “Suspicious Patterns in Hedge Fund Returns and the Risk of Fraud,” Review of Financial Studies 25, 2673-2702.
• Pool, Veronika K., Noah Stoffman, and Scott Yonker (2012), “No Place Like Home: Familiarity in Mutual Fund Manager Portfolio Choice,” Review of Financial Studies 25, 2563-2599.
• Bollen, Nick and Veronika K. Pool (2009), “Do Hedge Fund Managers Misreport Returns? Evidence from the Pooled Distribution,” Journal of Finance 64, No. 5, pp. 2257-2288.
• Bollen, Nick and Veronika K. Pool (2008), “Conditional Return Smoothing in the Hedge Fund Industry,” Journal of Financial and Quantitative Analysis 43, No. 2, June, pp. 267-298.
• Pool, Veronika K., Hans Stoll, and Robert Whaley (2008), “Failure to Exercise Call Options: An Anomaly and a Trading Game,” Journal of Financial Markets 11, pp. 1-35.