Reviewing the hedge funds literature II:hedge funds' returns and risk management characteristics

El Kalak, Izidin, Azevedo, Alcino and Hudson, Robert (2016). Reviewing the hedge funds literature II:hedge funds' returns and risk management characteristics. International Review of Financial Analysis, 48 , pp. 55-66.

Abstract

This paper summarizes the literature on hedge funds (HFs) developed over the last two decades, particularly that which relates to risk management characteristics (a companion piece investigates the managerial characteristics of HFs). It discusses the successes and the shortfalls to date in developing more sophisticated risk management frameworks and tools to measure and monitor HF risks, and the empirical evidence on the role of the HFs and their investment behaviour and risk management practices on the stability of the financial system. It also classifies the HF literature considering the most recent contributions and, particularly, the regulatory developments after the 2007 financial crisis.

Publication DOI: https://doi.org/10.1016/j.irfa.2016.09.006
Divisions: Aston Business School
Additional Information: © 2016, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/
Uncontrolled Keywords: hedge funds,return characteristics,risk management characteristics
Published Date: 2016-12
Authors: El Kalak, Izidin
Azevedo, Alcino ( 0000-0002-4751-6085)
Hudson, Robert

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