Band 3174
Hedge Fund Regulation by Banking Supervision A Comparative Institutional Analysis
-
- Englisch ausgewählt
Fr. 103.00
inkl. gesetzl. MwSt.,
Beschreibung
Produktdetails
Einband
Taschenbuch
Erscheinungsdatum
28.12.2005
Verlag
Peter Lang GmbH, Internationaler Verlag der WissenschaftenSeitenzahl
244
Maße (L/B/H)
21/14.8/1.4 cm
Gewicht
330 g
Auflage
1. Auflage
Sprache
Englisch
ISBN
978-3-631-54835-6
Hedge Fund regulation is a paradox. If regulators do not regulate Hedge Funds, markets may be at risk and investors could be insufficiently protected. On the other hand, if Hedge Funds are over-regulated jurisdictional arbitrage with all its economic detriments may occur. One way to address this dichotomy is to set up specific rules requiring disclosure and registration. So far only the German legislator and the US – SEC have decided to follow this path of regulation. The dissertation shows how these regulators and others have addressed the problem, underscoring the limited utility of such regulation. Using the analytical tool of New Institutional Economics (NIE) and Incomplete Contract Theory, this book demonstrates that indirect regulation of Hedge Funds via Basle II addresses the problem of jurisdictional arbitrage, limited transparency, and high transaction costs, whilst ensuring secrecy and high net returns. Basle II also indirectly addresses systemic risk problems and Hedge Fund’s level of leverage, as well as moral hazard problems by reforming lending practice and disclosure to Hedge Funds, thereby decreasing the capital – leverage ration of Hedge Funds.
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