Hedge funds and financial markets : an asset management and corporate governance perspective
Author(s)
Bibliographic Information
Hedge funds and financial markets : an asset management and corporate governance perspective
（Gabler research, . Geld,
Gabler, 2012
1st ed
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Note
Thesis (doctoral)--Justus-Liebig Universität Gießen, 2011
Bibliography: p. 369-410
Description and Table of Contents
Description
Hedge funds have started to play an important role in financial markets during the last decade. They have affected important aspects of financial intermediation such as asset allocation decisions and corporate governance. Julian Holler provides an excellent theoretical and empirical analysis of these issues. His analysis offers strong support that hedge funds enable investors to improve asset allocation decisions. Consequently, hedge funds are an interesting alternative asset class for institutional investors. In contrast to results for the U.S. capital market his research provides evidence that hedge fund activism does not persistently increase the value of firms in Germany. This result suggests that the institutional environment has a strong influence on the effectiveness of corporate governance mechanisms.
Table of Contents
Hedge Funds as an Individual Investment and from a Portfolio Perspective. - Hedge Fund Activism and Corporate Governance in Germany. - Empirical Analysis: Optimal Asset Allocation with Hedge Funds and the Valuation Effects of Hedge Fund Activism in Germany.
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