Reviewing the hedge funds literature I: Hedge funds and hedge funds' managerial characteristics

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• 作者：Izidin El Kalak^a ; ^{i.el-kalak@kent.ac.uk} ; Alcino Azevedo^b ; ^{a.azevedo@aston.ac.uk} ; Robert Hudson^c ; ^{Robert.hudson@hull.ac.uk}
• 关键词：G20 ; G23
• 刊名：International Review of Financial Analysis
• 出版年：2016
• 出版时间：December 2016
• 年：2016
• 卷：48
• 期：Complete
• 页码：85-97
• 全文大小：371 K
• 卷排序：48

文摘

This paper summarizes the literature on hedge funds (HFs) developed over the last two decades, particularly that which relates to managerial characteristics (a companion piece covers the return and risk management characteristics of HFs). It classifies, the current HF literature, suggesting which critical problems have been “solved” and which problems have not been yet adequately addressed. It also discusses the effects of past financial regulation and the prospects for the effect of new financial regulation on the HF industry and its performance and risk management practices, and suggests new avenues for research. Furthermore, it highlights the importance of managerial characteristics for HF performance, and the successes and the shortfalls to date in developing more sophisticated HF-related risk management tools.