The Oxford Handbook of Hedge Funds

Edited by Douglas Cumming, Sofia Johan, and Geoffrey Wood

Provides a comprehensive, multidisciplinary overview of the hedge fund industry
Offers global coverage
Contributions from leading scholars in their fields

The Oxford Handbook of Hedge Funds

Edited by Douglas Cumming, Sofia Johan, and Geoffrey Wood

Description

The Oxford Handbook of Hedge Funds provides a comprehensive overview of the hedge fund industry from a global perspective, bringing together insights from theoretical and applied research. The book seeks to both introduce the industry and what it does to scholars and practitioners new to the area, and to provide more advanced insights to those with extensive expertise in the area. The handbook explains the main context in which hedge funds operate, how the raise capital, and their structure and governance. It evaluates the main factors that have affected the operation of hedge funds, including competition from mutual funds, the market environment, and financial regulation, explains key concepts such as hedge fund flows, and core issues of practice, such as hedge fund manager fees.

This volume provides insights into the principle head fund strategies and how these have changed over the years. The behavioural dimensions of hedge fund behaviour are evaluated, as are fintech's consequences. The volume evaluates the effects of hedge funds on the firms they invest in, in terms of internal governance, strategy and practice. Furthermore, it explores a range of ethical issues around the operation of hedge funds, how they fit within the wider political economy, and changes in hedge fund regulation and taxation strategies.

The Oxford Handbook of Hedge Funds

Edited by Douglas Cumming, Sofia Johan, and Geoffrey Wood

1. Introduction, Douglas Cumming, Sofia Johan, and Geoffrey Wood
Part 1 - Hedge Fund Industry, Flows, and Governance
2. The Lost Decade for Hedge Funds: Three Threats, Joe McCahery and F. Alexander de Roode
3. Hedge Fund Flows, Guillermo Baquero and Marno Verbeek
4. Hedge Funds and Limited Partnership Agreements, Na Dai
Part 2 - Hedge Fund Strategies
5. Investment Strategies of Hedge Funds, Hany Shawky
6. Hedge Fund Strategies in the Post-Crisis Era, Yigit Atilgan, Turan Bali, and A. Doruk Gunaydin
7. Covergence and Diversity in the Hedge Fund and Private Equity Industry, Omololu Bajulaiye, Mark Fenwick, Ivona Skultetyova, and Erik Vermeulen
8. Hedge Funds and Herding Behaviour, Neil Kellard
9. Optimal Embedded Leverage for Portfolios of Commodity Trading Advisors, Christian Lundstörm and Jarkko Peltomäki
10. Financial Technology and Hedge Funds, Wulf Kaal
Part 3 - Hedge Fund Activism
11. Hedge Fund Activism vs Other Activist Investors, Ulf von Lilienfeld-Toal and Jan Schnitzler
12. A Review of Hedge Fund Activism: Impact on Shareholders vs. Stakeholders, Hadiye Aslan
13. Gone Global: The International Diffusion of Hedge Fund Activism, Ruth Aguilera, Ryan Federo, and Yuliya Ponomareva
14. Hedge Fund Activism and Financial Performance, J.B Heaton
15. Hedge Fund Activism and Corporate Innovation, Roberto S. Santos and Sunny Li Sun
Part 4 - Hedge Fund Misconduct and Regulation
16. Hedge Funds and Financial Misreporting, Philippe Jorion
17. Misconduct at Hedge Funds, Nick Bollen
18. Outsourcing Compliance Functions and Fraud Detection, David M. Shapiro
19. Indirect Regulation of Hedge Funds, Wulf Kaal
20. Tax Optimization of Hedge Funds, Both in Terms of Their Setup and/or in Terms of Structuring their Investments, Francoise-Serge Lhabitant
21. Locating Hedge Funds in a Subjective and Political Economy Context, Ian Clarke and Emrah Karakilic

The Oxford Handbook of Hedge Funds

Edited by Douglas Cumming, Sofia Johan, and Geoffrey Wood

Author Information

Douglas Cumming, DeSantis Distinguished Professor of Finance and Entrepreneurship, College of Business, Florida Atlantic University,Sofia Johan, Assistant Professor of Finance, College of Business, Florida Atlantic University,Geoffrey Wood, DanCap Chair of Innovation and Head of DAN Management, Western University, Ontario

Douglas Cumming, J.D., Ph.D., CFA, is the DeSantis Distinguished Professor of Professor of Finance and Entrepreneurship at the College of Business, Florida Atlantic University. Douglas has published over 185 articles in leading refereed academic journals, such as the Academy of Management Journal, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Journal of International Business Studies, and has been cited over 17,000 times according to Google Scholar. He is the Editor-in-Chief of the British Journal of Management (2020-2022), the Journal of Corporate Finance (2018-2020), and the Review of Corporate Finance (2021-).

Sofia Johan, LL.B., LL.M., PhD., is an Assistant Professor of Finance at the College of Business, Florida Atlantic University. Sofia has published over 60 articles in leading refereed academic journals, such as the American Law and Economics Review, Journal of Financial Economics, Journal of Banking and Finance, Journal of Business Ethics, Entrepreneurship Theory and Practice, Strategic Entrepreneurship Journal, and Journal of International Business Studies. Sofia has been cited over 3000 times on Google Scholar. Sofia is an Associate Editor of the British Journal of Management, and the incoming Co-Editor of Venture Capital: An International Journal of Entrepreneurial Finance.

Geoffrey Wood is DanCap Chair of Innovation and Head of DAN Management at Western University in Canada, and Visiting Professor at Trinity College, Dublin. He has served as Dean and Professor of International Business, at Essex Business School and as Professor of International Business at Warwick Business School, UK. He has authored/co-authored/edited 18 books, and over 180 articles in peer-reviewed journals. He holds honorary positions at Griffith and Monash University in Australia. His research interests centre on the relationship between institutional setting, corporate governance, firm finance, and firm level work and employment relations.

Contributors:

Ruth V. Aguilera is the Distinguished Darla and Frederick Brodsky Trustee Professor in Corporate Governance and Global Business at the D'Amore-McKim School of Business at Northeastern University and a visiting strategy professor at ESADE Business School.

Hadiye Aslan is an assistant professor of finance at the J. Mack Robinson College of Business at Georgia State University.

Yigit Atilgan is Associate Professor of Finance at the Sabanci Business School.

Omololu Bajulaiye is a Lecturer and PhD Researcher at Tilburg University's Department of International Business Law, Netherlands.

Turan G. Bali is the Robert Parker Chair Professor of Finance at Georgetown University.

Guillermo Baquero is Associate Professor at ESMT Berlin.

Nicolas Bollen is Frank K. Houston Professor of Finance at the Owen School of Management, Vanderbilt University.

Ian Clark is Professor at the Nottingham Business School.

Douglas Cumming is the DeSantis Distinguished Professor of Professor of Finance and Entrepreneurship at the College of Business, Florida Atlantic University.

Na Dai is a tenured Associate Professor of Finance at the State University of New York (Albany).

A. Doruk Gunaydin is Assistant Professor at the Sabanci Business School.

Ryan Federo is an associate professor in the Department of Business Economics at Universitat de les Illes Balears-Palma de Mallorca, Spain.

Mark Fenwick is a Professor of International Business Law at the Faculty of Law, Kyushu University, Fukuoka, Japan.

J.B. Heaton is the founder and managing member of One Hat Research LLC, a financial research and consulting firm.

Sofia Johan is Assistant Professor of Finance at the College of Business, Florida Atlantic University.

Philippe Jorion is Professor of Finance at the Paul Merage School of Business at the University of California at Irvine.

Wulf Kaal is Professor and Director of the Private Investment Fund Institute, University of St. Thomas.

Emrah Karakilic is a Senior Research Fellow at Nottingham Trent University.

Neil M. Kellard is a Professor of Finance and Dean of Essex Business School at the University of Essex, UK.

Francois-Serge Lhabitant is the CEO and CIO of Kedge Capital and Professor of Finance at the EDHEC Business School, France, and a visiting professor at the Hong Kong University of Science and Technology.

Ulf von Lilienfeld-Toal is a Professor of Finance and Head of the Department of Finance at the Faculty of Law, Economics, and Finance at the University of Luxembourg.

Sunny Li Sun is an associate professor of entrepreneurship and innovation in The Manning School of Business, University of Massachusetts Lowell.

Christian Lundström Tjurhufvud is the Head of Fund Selection and Compliance Unit at the Swedish Pensions Agency.

Joseph A. McCahery is Professor of International Economic Law at Tilburg University Law School, a Senior Fellow of the European Banking Center, and Research Associate at ECGI (Brussels) and TILEC.

Jarkko Peltomäki is an Associate Professor in Finance at Stockholm Business School (SBS), Stockholm University.

Yuliya Ponomareva is a lecturer in the Department of Business at Universitat Autònoma de Barcelona.

F. Alexander de Roode is Quantitative Researcher at the asset manager Robeco.

Roberto S. Santos is a Ph.D. Candidate in Business Administration (Entrepreneurship) at the University of Massachusetts Lowell.

Jan Schnitzler is Associate Professor of Finance at Grenoble Ecole de Management.

David M. Shapiro is Distinguished Lecturer and Coordinator of the Fraud Examination and Financial Forensics (undergraduate) program at the City University of New York's John Jay College of Criminal Justice.

Hany A. Shawky is Professor of Finance and Economics at the School of Business at the University at Albany, State University of New York.

Ivona Skultetyova is a Lecturer/Researcher at Business Law Department, Tilburg University.

Marno Verbeek is Professor of Finance at Rotterdam School of Management, Erasmus University, the Netherlands (RSM).

Erik P.M. Vermeulen is a Professor of Business and Financial Law at Tilburg University in the Netherlands, Senior Legal Counsel at Signify (formerly known as Philips Lighting) and an Innovation Advisor at a law firm.

Geoffrey Wood is Professor Geoffrey Wood is DanCap Chair of Innovation and Head of DAN Management at Western University in Canada, and Visiting Professor at Trinity College, Dublin.