Purpose – The purpose of this paper is to explain legislative and regulatory changes and related developments that will be of interest to hedge funds and other private funds as they traverse the shifting regulatory landscape in 2012. Design/methodology/approach – The paper provides a general...

Purpose – The purpose of this paper is to review significant questions raised by the US Supreme Court's June 13, 2011 decision in Janus Capital Group, Inc. v. First Derivative Traders and discuss issues that fund directors and advisers may want to consider as a result....

Purpose – Academic research has shown that diversification today may not only include stocks and bonds but also alternative investments like hedge funds. However, practical and effective methods to identify the hedge fund styles that really enhance the risk return characteristics of a...

Purpose – The purpose of this paper is to explore how hedge fund database biases developed during the 2007‐2009 financial crisis. Design/methodology/approach – The sample consists of 8,935 hedge funds from the Lipper TASS Hedge Fund Database for the January 2002‐September 2010 time...

Purpose – The purpose of this paper is to examine the possibility of creating hedge funds “clones” using liquid exchange traded instruments. Design/methodology/approach – Authors analyze the performance of fixed weight and extended Kalman filter generated clone portfolios (EKF) for 14...

Purpose – The purpose of this paper is to propose that simple measures of linear association are unable to capture accurately the dependence between the survival of hedge funds and funds of funds, respectively. The paper then aims to advocate the use of copulas to model the joint survival of...

Purpose – The purpose of this paper is to investigate the return performance of different investment strategies in the hedge fund sector, with a particular emphasis on the recent US financial crisis of 2007‐2010. Additionally, the paper aims to investigate the comovement of hedge fund index...

Purpose – This paper seeks to analyse Steel Partners' investments and activism targeting United Industrial, Ronson, and BKF Capital to provide context for the debate surrounding shareholder activism by hedge funds and how incumbent management should cope with it. Steel Partners is one of the...

Purpose – The paper was written with the intention of drawing attention to a fundamental dysfunction that is widespread in large organizations today – a myopic focus on maximizing shareholder value. Design/methodology/approach – The paper identifies the source of the dysfunction, the...

Purpose – The purpose of this paper is to investigate what is denoted as episodes of concentrated short‐selling activity, or consecutive days of abnormal short‐sale activity in a particular stock. The motivation to do so is two fold. First, US regulators and regulators in other countries...