Investor irrationality and closed-end hedge funds

This study questions the rationality of people investing in HFs. I use a sample of London listed closed-end hedge funds to evaluate two criteria that imply irrational behavior. I find that the rationality of investors can not be rejected for the majority of time. However, the results also imply that investors react irrationally when facing the worsening economic conditions in the second half of 2008.

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Year of publication:	2009
Authors:	Zimmermann, Heinz ; Dietiker, Oliver
Publisher:	Basel : Universität Basel, Wirtschaftswissenschaftliches Zentrum (WWZ)
Subject:	Hedgefonds \| Anlageverhalten \| Rationalität \| Schätzung \| London

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Series:	WWZ Forschungsbericht ; 09/09
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Research Report
Language:	English
Other identifiers:	611993236 [GVK] hdl:10419/127527 [Handle]
Source:	EconStor

Persistent link: https://www.econbiz.de/10011428799