Fung & Hsieh, 1997, "Empirical Characteristics of Dynamic Trading Strategies: The Case of Hedge Funds," Review of Financial Studies.

Fung & Hsieh, 2000, "Performance Characteristics of Hedge Funds and CTA Funds: Natural Versus Spurious Biases," JFQA.

Fung & Hsieh, 2001, "The Risk in Hedge Fund Strategies: Theory and Evidence from Trend Followers," Review of Financial Studies.

Fung & Hsieh, 2002, "The Risk in Fixed-Income Hedge Fund Styles,” Journal of Fixed Income.

Agarwal & Naik, 2004, " Risks and portfolio decisions involving hedge funds," Review of Financial Studies.

Fung & Hsieh, 2004, "Hedge Fund Benchmarks: A Risk Based Approach," Financial Analyst Journal.

Ibbotson & Chen, 2006, “The A, B, C’s of Hedge Funds: Alphas, Betas and Costs”, Yale ICF Working Paper No. 06-10

Kosowski, Naik and Teo, 2006, ”Do Hedge Funds Deliver Alpha? A Bayesian and Bootstrap Analysis, forthcoming in Journal of Financial Economics

Fung & Hsieh, 2007, "Hedge Funds: An Industry in Its Adolescence“, Atlanta Fed Economic Review

Fung, Hsieh, Naik, Ramadorai, 2007, "Hedge Funds: Performance, Risk and Capital Formation," Working Paper, forthcoming in Journal of Finance.

Fung & Hsieh, 2007, "Hedge Fund in Transition: The Clones Have Landed,“ Financial Stability Review: Special Issue on Hedge Funds, Banque de France,