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

El Kalak, Izidin; Azevedo, Alcino; Hudson, Robert

Abstract

© 2016 Elsevier Inc. 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.

Citation

El Kalak, I., Azevedo, A., & Hudson, R. (2016). Reviewing the hedge funds literature I: Hedge funds and hedge funds' managerial characteristics. International review of financial analysis, 48, 85-97. https://doi.org/10.1016/j.irfa.2016.09.008

• Acceptance Date: Sep 12, 2016
• Online Publication Date: Sep 21, 2016
• Publication Date: 2016-12
• Deposit Date: Sep 15, 2016
• Publicly Available Date: Mar 23, 2018
• Journal: International review of financial analysis
• Print ISSN: 1057-5219
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 48
• Pages: 85-97
• DOI: https://doi.org/10.1016/j.irfa.2016.09.008
• Keywords: Economics and Econometrics; Finance; Hedge funds; Hedge funds characteristics, Hedge funds managers; Managerial characteristics
• Public URL: https://hull-repository.worktribe.com/output/443145
• Publisher URL: http://www.sciencedirect.com/science/article/pii/S1057521916301302
• Additional Information: This is the accepted manuscript of an article published in International review of financial analysis, 2016. The version of record is available at the DOI link in this record.