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Hedge Funds and Systemic Risk [Mīkstie vāki]

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  • Formāts: Paperback / softback, 146 pages, height x width: 229x152 mm
  • Izdošanas datums: 10-Oct-2012
  • Izdevniecība: RAND
  • ISBN-10: 0833076841
  • ISBN-13: 9780833076847
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  • Cena: 26,10 €
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Hedge Funds and Systemic RiskPalielināt
  • Formāts: Paperback / softback, 146 pages, height x width: 229x152 mm
  • Izdošanas datums: 10-Oct-2012
  • Izdevniecība: RAND
  • ISBN-10: 0833076841
  • ISBN-13: 9780833076847
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9780833076847.html
Keywords:
This report explores the extent to which hedge funds create or contribute to systemic risk, the role they played in the financial crisis, and whether and how the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010 addresses the potential systemic risks posed by hedge funds.

Preface iii
Figures
ix
Tables
xi
Summary xiii
Acknowledgments xxvii
Abbreviations xxix
Chapter One Introduction
1(8)
Potential Contribution of Hedge Funds to Systemic Risk
4(1)
Research Methods
5(1)
Organization of This Report
6(3)
Chapter Two Background on the Hedge Fund Industry
9(22)
Overview of the Hedge Fund Industry
9(19)
Legal Structure and Role in the Financial System
9(3)
Number of Hedge Funds and Assets Under Management
12(3)
Restrictions on Investor Withdrawals from Hedge Funds
15(1)
Characteristics of Hedge Fund Investors
16(1)
Distribution of Funds in the Industry, by Size and Characteristics of Hedge Fund Advisers
17(4)
Hedge Fund Returns and Investment Strategies
21(7)
Attributes of Hedge Funds That Amplify and Mitigate Their Potential Contribution to Systemic Risk
28(3)
Chapter Three The Collapse of Long-Term Capital Management
31(8)
Factors Leading to the Collapse of Long-Term Capital Management
31(2)
The Rescue of Long-Term Capital Management
33(1)
The Aftermath of the Collapse of Long-Term Capital Management
34(3)
Lessons from the Collapse of Long-Term Capital Management
37(2)
Chapter Four Hedge Funds and the Financial Crisis of 2007-2008
39(24)
Factors Underlying the Financial Crisis
39(2)
Hedge Fund Contribution to the Financial Crisis Through the Credit Channel
41(4)
Impact of Hedge Fund Losses on Creditors
41(2)
The Failure of the Bear Stearns Hedge Funds
43(2)
Hedge Fund Contribution to the Financial Crisis Through the Market Channel
45(16)
Hedge Fund Contribution to the Buildup of the Housing Bubble
45(5)
Hedge Fund Deleveraging
50(5)
Short Selling
55(4)
Hedge Fund Runs on Investment Banks
59(2)
Assessment of Hedge Fund Contributions to the Financial Crisis
61(2)
Chapter Five Potential Hedge Fund Threats to Financial Stability and Reforms to Address Them
63(36)
Potential Hedge Fund Threats to Financial Stability
63(5)
Lack of Information on Hedge Funds
63(1)
Lack of Appropriate Margin in Derivatives Trades
64(1)
Runs on Prime Brokers
64(1)
Short Selling
65(1)
Compromised Risk-Management Incentives
65(1)
Lack of Portfolio Liquidity and Excessive Leverage
66(2)
Financial Reforms That Address Hedge Fund Contributions to Systemic Risk
68(28)
Reforms That Address Lack of Information on Hedge Funds
68(6)
Reforms That Address Lack of Appropriate Margin in Derivatives Trades
74(3)
Reforms That Address Hedge Fund Runs on Prime Brokers
77(2)
Reforms That Address Short Selling
79(3)
Reforms That Address Risk-Management Incentives
82(4)
Reforms That Address the Liquidity and Leverage of Hedge Fund Portfolios
86(10)
Summary
96(3)
Chapter Six Conclusion
99(4)
Appendix Regulatory Reforms That Address Potential Systemic Risks Posed by Hedge Funds 103(4)
References 107