IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2011_num_101_1_5989.html
   My bibliography  Save this article

Les hedge funds : quelles implications en termes de risque systémique ?

Author

Listed:
  • Sabrina Khanniche

Abstract

[eng] Hedge funds aim to provide absolute returns. This purpose implies taking positions in complex financial markets that are sensitive to extreme losses. They are thus sources of systemic risk. In addition, a set of factors induce that hedge funds disseminate systemic risk. They indeed combine a large network of counterparts exposed to their losses with an absence of liquidity in time of market downturn, which lead to distressed sales. . Classification JEL : F4, G15, G23. [fre] La gageure de rendements exceptionnels conduit les hedge funds à prendre des positions sensibles aux risques extrêmes dans des marchés complexes. Ils sont alors sources de risque systémique. En outre, un ensemble de facteurs font des hedge funds des propagateurs de risque systémique. Ils ont un réseau dense de contreparties exposées à leurs pertes, les pannes de liquidité dans leurs marchés habituels de financement les amènent à procéder à des ventes de détresse d’actifs, ce qui est d’autant plus probable qu’ils détiennent des titres illiquides. . Classification JEL : F4, G15, G23.

Suggested Citation

  • Sabrina Khanniche, 2011. "Les hedge funds : quelles implications en termes de risque systémique ?," Revue d'Économie Financière, Programme National Persée, vol. 101(1), pages 87-102.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2011_num_101_1_5989
    DOI: 10.3406/ecofi.2011.5989
    Note: DOI:10.3406/ecofi.2011.5989
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2011.5989
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2011_num_101_1_5989
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.2011.5989?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jawadi, Fredj & Khanniche, Sabrina, 2012. "Modeling hedge fund exposure to risk factors," Economic Modelling, Elsevier, vol. 29(4), pages 1003-1018.

    More about this item

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2011_num_101_1_5989. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.