Hedge Funds

Structure, Strategies, and Performance
Erscheinungsjahr 2017
ISBN: 978-0-19-060737-1
Verlag: OXFORD UNIV PR

Buch, Englisch, 696 Seiten, Format (B × H): 161 mm x 240 mm, Gewicht: 1195 g

Hedge Funds: Structure, Strategies, and Performance provides a synthesis of the theoretical and empirical literature on this intriguing, complex, and frequently misunderstood topic.

The book dispels some common misconceptions of hedge funds, showing that they are not a monolithic asset class but pursue highly diverse strategies. Furthermore, not all hedge funds are unusually risky, excessively leveraged, invest only in illiquid asses, attempt to profit from short-term market movements, or only benefit hedge fund managers due to their high fees. Among the core issues addressed are how hedge funds are structured and how they work, hedge fund strategies, leading issues in this investment, and the latest trends and developments.

The authors examine hedge funds from a range of perspectives, and from the theoretical to the practical. The book explores the background, organization, and economics of hedge funds, as well as their structure. A key part is the diverse investment strategies hedge funds follow, for example some are activists, others focusing on relative value, and all have views on managing risk. The book examines various ways to evaluate hedge fund performance, and enhances understanding of their regulatory environment. The extensive and engaging examination of these issues help the reader understands the important issues and trends facing hedge funds, as well as their future prospects.

Autoren/Hrsg.

Baker, H. Kent

Filbeck, Greg

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Unternehmensfinanzierung
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen

Inhaltsverzeichnis

- Contents

- List of Figures

- List of Tables

- Acknowledgments

- About the Editors

- About the Contributors

- Abbreviations

- Part One INTRODUCTION

- 1. Hedge Fund Fundamentals

- H. Kent Baker and Greg Filbeck

- 2. The Economics of Hedge Funds

- Shantanu Dutta, Arup Ganguly, and Lin Ge

- 3. The Life Cycle of Hedge Funds: A New Perspective

- Mila Getmansky and Rachel (Kyungyeon) Koh

- 4. Characteristics of Successful Hedge Fund Managers

- Ashrafee T. Hossain, Samir Saadi, and Maxim Treff

- Part Two STRUCTURE OF HEDGE FUND

- 5. Hedge Fund Organization

- Douglas Cumming, Na Dai, and Sofia Johan

- 6. Hedge Fund Governance

- Lamia Chourou, Ashrafee T. Hossain, and Samir Saadi

- 7. Activist Hedge Funds

- Tony Calenda, Chris Milliken, and Andrew C. Spieler

- 8. The Tax Framework of Hedge Funds

- François-Serve Lhabitant and Michel Brocard

- 9. Compensation and Incentives in Hedge Funds

- Garrett C. C. Smith and Gaurav Gupta

- 10. Off Shore Hedge Funds

- Roberto J. Santillán-Salgado and Juan José García-Santos

- Part Three INVESTMENT STRATEGIES OF HEDGE FUNDS

- 11. Directional Equity Hedge Fund Strategies

- Oreste Auleta and Filippo Stefanini

- 12. Event Driven Hedge Fund Strategies

- Caroline Farrelly and François-Serge Lhabitant

- 13. Global Derivatives Hedge Fund Strategies

- Christopher Barnes, Ehsan Nikbakht, and Andrew C. Spieler

- 14. Relative Value Hedge Funds Strategies

- George Dikanorov, Joseph McBride, and Andrew C. Spieler

- 15. Multi-strategy Hedge Funds

- Paul-Henri Bayart-De-Germont and Daniel Capocci

- Part Four RISKS AND REGULATION

- 16. Risk Measurement and Management for Hedge Funds

- Guillaume Weisang

- 17. Hedge Funds and Systemic Risk

- Wulf A. Kaal and Timothy A. Krause

- 18. Operational Risk Management for Hedge Funds

- Claus Huber and Daniel Imfeld

- 19. Hedge Fund Due Diligence

- Jason Scharfman

- 20. Hedge Fund Regulation

- Wulf A. Kaal and Dale Oesterle

- Part Five HEDGE FUND PERFORMANCE

- 21. Issues in Hedge Fund Research

- Thuy Bui and Abhishek Ganguly

- 22. Hedge Fund Pricing

- David Hampton

- 23. Evaluating Hedge Fund Performance

- David M. Smith

- 24. Financial Crises and Evaporating Diversification Benefits of Hedge Funds

- Monica Billio, Mila Getmansky Sherman, and Loriana Pelizzon

- 25. Hedge Fund Replication

- Paul Lajbcygier and Mikhail Tupitsyn

- 26. Hedge Funds and Performance Persistence

- Nan Qin and Ying Wang

- 27. Benchmarking and Bias in Hedge Funds

- Jeffrey S. Smith, Kenneth Small, and Phillip Njoroge

- 28. Style Analysis and Consistency

- William R. McCumber and Jyotsaana Parajuli

- Part Six ISSUES, TRENDS, AND FUTURE PROSPECTS OF HEDGE FUNDS

- 29. Current Hedge Fund Debates and Controversies

- Dianna Preece

- 30. Trends and Future Prospects of Hedge Funds

- Hunter M. Holzhauer

- Discussion Questions and Answers

- Index

Über Autor(innen)

H. Kent Baker is a University Professor of Finance in the Kogod School of Business at American University. As one of the most prolific finance academics, Professor Baker has authored or edited 26 books and has published more than 160 refereed articles in such journals as the Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal, and Journal of Portfolio Management. He has consulting and training experience with more than 100 organizations. Professor Baker holds a BSBA from Georgetown University; M.Ed., MBA, and DBA degrees from the University of Maryland; and an MA, MS, and two PhDs from American University. He also holds CFA and CMA designations.

Greg Filbeck is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Behrend and serves as the Interim Director for the Black School of Business. Professor Filbeck has authored or edited seven books and published more than 90 refereed academic journal articles appearing in the Financial Analysts Journal, Financial Review, and Journal of Business, Finance, and Accounting. He received a BS from Murray State University; an MS from Penn State University, and a DBA (finance) from the University of Kentucky. He also holds the CFA, FRM, PRM, CIPM, and CAIA designations.