IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-04140867.html
   My bibliography  Save this paper

Une adresse à Mayfair ou Vendôme: la rationalité spatiale des Hedge Funds

Author

Listed:
  • Yamina Tadjeddine

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

With financial globalization, there has been a thorough reorganization of financial activities. A new geography of finance has emerged with, first of all, activities being transferred from the historical heart of big cities to the peripheral areas. Alternative asset management that has emerged in Europe in the past ten years is undoubtedly the paradox example of this suburbanization movement. We notice a high level of spatial concentration in the historical heart of Paris and London. Hedge Funds, particularly independent organizations choose Upper Class area. To provide an understanding of the future dynamics of the location of financial activities we need to redefine the notion of financial market. To provide an understanding of this location of alternative activities we need to redefine the socio-economic characteristics of hedge funds. The specific nature of this activity – highly skilled employees, high value-added knowledge services, lack of public information – justify concentration in order to take advantage of informational externalities and of the presence of specialized companies. An address in Mayfair or at Place Vendôme counts in the world of hedge funds.

Suggested Citation

  • Yamina Tadjeddine, 2009. "Une adresse à Mayfair ou Vendôme: la rationalité spatiale des Hedge Funds," Working Papers hal-04140867, HAL.
    • Handle: RePEc:hal:wpaper:hal-04140867
    Note: View the original document on HAL open archive server: https://hal.science/hal-04140867
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04140867/document
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Brueckner, Jan K. & Thisse, Jacques-Francois & Zenou, Yves, 1999. "Why is central Paris rich and downtown Detroit poor?: An amenity-based theory," European Economic Review, Elsevier, vol. 43(1), pages 91-107, January.
    2. Paul Almeida & Bruce Kogut, 1999. "Localization of Knowledge and the Mobility of Engineers in Regional Networks," Management Science, INFORMS, vol. 45(7), pages 905-917, July.
    3. Alberto Alesina & Eliana La Ferrara, 2003. "Ethnic Diversity and Economic Performance," Harvard Institute of Economic Research Working Papers 2028, Harvard - Institute of Economic Research.
    4. Gunther Capelle-Blancard & Matthieu Crozet & Fabien Tripier, 2007. "La localisation des activités financières dans l'Union européenne," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00758384, HAL.
    5. Ludovic Dibiaggio & Michel Ferrary, 2003. "Communautés de pratique et réseaux sociaux dans la dynamique de fonctionnement des clusters de hautes technologies," Revue d'Économie Industrielle, Programme National Persée, vol. 103(1), pages 111-130.
    6. Jan K. Brueckner & Jacques-François Thisse & Yves Zenou, 1999. "Why is central Paris rich and downtown Detroit poor?," Post-Print hal-04103047, HAL.
    7. Pierre Agnes, 2000. "The “End of Geography” in Financial Services? Local Embeddedness and Territorialization in the Interest Rate Swaps Industry," Economic Geography, Taylor & Francis Journals, vol. 76(4), pages 347-366, October.
    8. Gunther Capelle-Blancard & Yamina Tadjeddine, 2007. "Les places financières," Post-Print halshs-00265669, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lin, Joanne Yuh-Jye & Jenelius, Erik & Cebecauer, Matej & Rubensson, Isak & Chen, Cynthia, 2023. "The equity of public transport crowding exposure," Journal of Transport Geography, Elsevier, vol. 110(C).
    2. Loumeau, Gabriel, 2023. "Locating Public Facilities: Theory and Micro Evidence from Paris," Journal of Urban Economics, Elsevier, vol. 135(C).
    3. Marino, Marianna & Parrotta, Pierpaolo & Pozzoli, Dario, 2016. "Educational diversity and knowledge transfers via inter-firm labor mobility," Journal of Economic Behavior & Organization, Elsevier, vol. 123(C), pages 168-183.
    4. Maré, David C. & Fabling, Richard & Stillman, Steven, 2011. "Immigration and Innovation," IZA Discussion Papers 5686, Institute of Labor Economics (IZA).
    5. Said Benjamin Bonakdar & Michael Roos, 2023. "Dissimilarity effects on house prices: what is the value of similar neighbours?," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 18(1), pages 59-86, January.
    6. Laursen, Keld & Leten, Bart & Nguyen, Ngoc Han & Vancauteren, Mark, 2020. "Mounting corporate innovation performance: The effects of high-skilled migrant hires and integration capacity," Research Policy, Elsevier, vol. 49(9).
    7. Marchiori, Luca & Pascal, Julien & Pierrard, Olivier, 2023. "(In)efficient commuting and migration choices: Theory and policy in an urban search model," Regional Science and Urban Economics, Elsevier, vol. 102(C).
    8. Lauriane BELLOY, 2023. "Do short-term rentals impact population movements? An analysis in six french urban areas," Working papers of Transitions Energétiques et Environnementales (TREE) hal-04135401, HAL.
    9. Annekatrin Niebuhr, 2010. "Migration and innovation: Does cultural diversity matter for regional R&D activity?," Papers in Regional Science, Wiley Blackwell, vol. 89(3), pages 563-585, August.
    10. Viggo Nordvik & Liv Osland & Inge Thorsen & Ingrid Sandvig Thorsen, 2019. "Capitalization of neighbourhood diversity and segregation," Environment and Planning A, , vol. 51(8), pages 1775-1799, November.
    11. Schulz, Rainer & Watson, Verity & Wersing, Martin, 2023. "Teleworking and housing demand," Regional Science and Urban Economics, Elsevier, vol. 101(C).
    12. Raphael Bergoeing, 2022. "Desarrollo Urbano de Santiago: Perspectivas y Lecciones," Documentos de Trabajo 352, Centro de Economía Aplicada, Universidad de Chile.
    13. David C. Maré & Richard Fabling & Steven Stillman, 2014. "Innovation and the local workforce," Papers in Regional Science, Wiley Blackwell, vol. 93(1), pages 183-201, March.
    14. Gupta, Abhimanyu & Halket, Jonathan, 2023. "Household sorting in an ancient setting," Journal of Urban Economics, Elsevier, vol. 135(C).
    15. Seltzer, Andrew J. & Wadsworth, Jonathan, 2023. "The impact of public transportation and commuting on urban labor markets: evidence from the New Survey of London Life and Labour, 1929–1932," LSE Research Online Documents on Economics 120895, London School of Economics and Political Science, LSE Library.
    16. Ceren Ozgen & Peter Nijkamp & Jacques Poot, 2013. "The impact of cultural diversity on firm innovation: evidence from Dutch micro-data," IZA Journal of Migration and Development, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 2(1), pages 1-24, December.
    17. Konstantin Kholodilin & Irina Koroleva & Darya Kryutchenko, 2022. "Where is the consumer centre? A case of St. Petersburg," Regional Science Policy & Practice, Wiley Blackwell, vol. 14(4), pages 916-938, August.
    18. Lauriane BELLOY, 2023. "Do short-term rentals impact population movements? An analysis in six french urban areas," Working Papers hal-04135401, HAL.
    19. Owen, Ann L. & Temesvary, Judit, 2018. "The performance effects of gender diversity on bank boards," Journal of Banking & Finance, Elsevier, vol. 90(C), pages 50-63.
    20. Klaus Desmet & Ignacio Ortuño-Ortín & Romain Wacziarg, 2009. "The political economy of ethnolinguistic cleavages," Working Papers 2009-17, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.

    More about this item

    Keywords

    Financial Institution; Financial Geography; Informational Externalities;
    All these keywords.

    JEL classification:

    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • G2 - Financial Economics - - Financial Institutions and Services

    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:hal:wpaper:hal-04140867. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.