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Newsletter |
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A Day Late and a Dollar Short
As the sub prime crisis has evolved over the past several months, I have been asked by several of my fellow academics and practitioners why CISDM, or other academic centers who focus on alternative investments, failed to warn the public as to the potential risks associated with the creation of investment structures which depended on sub prime mortgages as form of investment.
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| Most
Recent Research |
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The Informational
Content of the Audit Firm Relationships with Hedge Funds: Gupta and Bouges
A considerable amount of research has been conducted on hedge funds. Returns, fund flows and factor exposures
have all been studied extensively. However, little empirical research has been done to explore the causes and
associated consequences of various institutional affiliations between hedge funds and service providers. In fact,
only recently have academic and practitioner researchers begun to empirically examine this area. In this article,
we empirically examine the impact of one of these hedge fund / service provider relationships. Specifically, we
examine the relationship between audit firm quality and funds size and / or manager tenure. Ex ante, we expected a
positive relationship amongst these variables. Our results found the relationships to be significant.
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The Chartered Alternative Investment Analyst