Hedge funds: Past, present, and future

Journal of Economic Perspectives

Volumn 21, Issue 2, 2007, Pages 175-194

  Stulz, René M ^a,b,c  

^a OHIO STATE UNIVERSITY   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c European Corporate Governance Institute   (Belgium)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 34547304063     PISSN: 08953309     EISSN: None     Source Type: Journal    
DOI: 10.1257/jep.21.2.175     Document Type: Article

References (33)

1. Ackermann, Carl, Richard McEnally, and David Ravenscraft. 1999. "The Performance of Hedge Funds: Risk, Return, and Incentives." Journal of Finance, 54(3): 833-74.
2. Agarwal, Vikas, Nicole M. Boyson, and Narayan Y. Naik. 2006. "Hedge Funds for Retail Investors? An Examination of Hedged Mutual Funds." BNP Paribas Hedge Fund Centre Working Paper Series HF-021, London Business School. Available at SSRN: http://ssrn.com/abstract= 891621.
3. Agarwal, Vikas, Naveen D. Daniel, and Narayan Y. Naik. 2006. "Why is Santa so Kind to Hedge Funds? The December Return Puzzle!" Available at SSRN: http://ssrn.com/abstract= 891169.
4. Almazan, Andres, Keith C. Brown, Murray Carbon, and David A. Chapman. 2004. "Why onstrain Your Mutual Fund Manager?" Journal of Financial Economics, 73(2): 289-321.
5. Anderson, Jenny. 2006a. "As Lenders, Hedge Funds Draw Insider Scrutiny." New York Times, October 16.
6. Anderson, Jenny. 2006b. "Atop Hedge Funds, Richest of the Rich Get Even More So." New York Times, May 26.
7. Barberis, Nicholas, and Andrei Shleifer. 2003. "Style Investing." Journal of Financial Economics, 68(2):161-99.
8. Boyson, Nicole M., Christof W. Stahel, and René M. Stulz. 2006. "Is There Hedge Fund Contagion?" Charles A. Dice Center Working Paper Series No. 2006-1, Fisher College of Business (Ohio State University). Available at SSRN: http://ssrn.com/abstract=884202.
9. Brunnermeier, Markus K., and Stefan Nagel. 004. "Hedge Funds and the Technology Bubble." Journal of Finance, 59(5): 2013-40.
10. BusinessWeek Online. 2005. "Hedge Fund Sleuths." November 21. http://www.businessweek.com/magazine/content/05_47/b3960129.htm.
11. Chan, Nicholas, Mila Getmansky, Shane M. Haas, and Andrew W. Lo. 2006. "Systemic Risk and Hedge Funds." In The Risks of Financial Institutions, ed. Mark Carey and René M. Stulz, 235-330. Chicago: University of Chicago Press.
12. Eichengreen, Barry, David Mathieson, Banldm Chadha, Anne Jansen, Laura Kodres, and Sunil Sharma. 1998. "Hedge Funds and Financial Market Dynamics." International Monetary Fund Occasional Paper 166.
13. Elton, Edwin J., Martin J. Gruber, and Christopher R. Blake. 2003. "Incentive Fees and Mutual Funds." Journal of Finance, 58(2): 779-804.
14. Fung, William, and David A. Hsieh. 1997. "Empirical Characteristics of Dynamic Trading Strategies: The Case of Hedge Funds." Review of Financial Studies, 10(2): 275-302.
15. Fung, William, David A, Hsieh, Narayanan Naik, and Tarun Ramadorai. 2007. "Hedge Funds: Performance, Risk, and Capital Formation." BNP Paribas Hedge Fund Centre Working Paper Series HF-025, London Business School, London, UK. Available at SSRN: http://ssrn.com/abstract= 778124.
16. Garbaravicius, Thomas, and Frank Dierick. 2005. "Hedge Funds and Their Implications for Financial Stability." European Central Bank Occasional Paper 34.
17. Getmansky, Mila, Andrew W. Lo, and Igor Makarov. 2004. "An Econometric Model of Serial Correlation and Illiquidity in Hedge Fund Returns." Journal of Financial Economics, 74(3): 529-609.
18. Hu, Henry T. C., and Bernard S. Black. 2006. "Hedge Funds, Insiders, and Decoupling of Economic and Voting Ownership in Public Companies: Empty Voting and Hidden (Morphable) Ownership." European Corporate Governance Institute Law Working Paper 56/2006.
19. Ibbotson, Roger G., and Peng Chen. 2005. "Sources of Hedge Fund Returns: Alphas, Betas, and Costs." Yale ICF [International Center for Finance] Working Paper 05-17, Yale University, New Haven, CN.
20. Investment Company Institute. 2005. "2005 Investment Company Fact Book." Washington, D.C. Available at http://www.ici.org/statements/ res/2005_factbook.pdf.
21. Jagannathan, Ravi, Alexey Malakhov, and Dmitry Novikov. 2006. "Do Hot Hands Persist Among Hedge Fund Managers? An Empirical Evaluation." National Bureau of Economic Research Working Paper W12015.
22. Kat, Harry M., and Helder P. Palaro. 2006. "Hedge Fund Returns: You Can Make Them Yourself!" AIRC [Alternative Investments Research Center] Working Paper 0023, Sir John Cass Business School.
23. Koski, Jennifer Lynch, and Jeffrey Pontiff. 1999. "How Are Derivatives Used? Evidence from the Mutual Fund Industry." Journal of Finance, 54(2): 791-816.
24. Kosowski, Robert, Narayan Y. Naik, and Melvyn Teo. Forthcoming. "Do Hedge Funds Deliver Alpha? A Bayesian and Bootstrap Analysis." Journal of Financial Economics. Working paper version available at SSRN: http://ssrn.com/abstract=829025.
25. Lowenstein, Roger. 2001. When Genius Failed: The Rise and Fall of Long-Term Capital Management. New York, NY: Random House.
26. Malkiel, Burton G. 1995. "Returns From Investing in Equity Mutual Funds 1971 to 1991." Journal of Finance, 50(2): 549-72.
27. Malkiel, Burton G., and Atanu Saha. 2005. "Hedge Funds: Risk and Return." Financial Analysts Journal, 61(6): 80-8.
28. New York Times. 2006. "Regulating Hedge Funds." September 24.
29. Presidential Task Force on Market Mechanisms. 1998. Report, Washington, DC.
30. Schurr, Stephen. 2006. "Hedge Fund Stars Earn over $1 bn." Financial Times, May 26.
31. Shleifer, Andrei, and Robert W. Vishny. 1997. "The Limits of Arbitrage." Journal of Finance, 52(1): 35-55.
32. Tremont Capital Management 2005. "Tremont Asset Flow Report." Second Quarter 2005. New York.
33. U.S. Securities and Exchange Commission. 2003. "Implications of the Growth of Hedge Funds." Staff Report to the Securities Exchange Commission, Washington, D.C.