Gli hedge fund: caratteristiche, impatto sui mercati e ruolo nelle crisi finanziarie
AbstractHedge Funds are extensively cited as the main actors responsible for the financial crisis erupted in the latest decades. Their natural characteristic for secrecy and their fame for high propensity towards risks, together with the ample use of leverage, help to explain why these operators are often indicated as the main cause for the increase in markets: volatility and instability. The paper analyses the nature of these institutions and their distinctive characteristics: main investment strategies, performance measurement tools and typical organization structures. The second part of the work examines the advantages that both academics and professionals recognize to the hedge fund presence on the markets: improved price efficiency, increased market liquidity and, above all, continuing innovation. This part is followed by the analysis of the critical aspects that cause them to be on trial for any situation of financial market distress and turbulence. In particular, the study analyses the role of hedge funds in the present global economic crisis. The final part of the paper focuses on considerations regarding the present debate, which divides the financial community, on the opportunity of introducing specific regulation for the hedge fund industry.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Macerata University, Department of Studies on Economic Development (DiSSE) in its series Working Papers with number 20-2009.
Date of creation: Aug 2009
Date of revision: Oct 2009
Financial Crisis; Hedge Fund;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-24 (All new papers)
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carlo Sampaoli).
If references are entirely missing, you can add them using this form.