Investor irrationality and closed-end hedge funds

This study questions the rationality of people investing in HFs. I usea sample of London listed closed-end hedge funds to evaluate two criteriathat imply irrational behavior. I nd that the rationality of investorscan not be rejected for the majority of time. However, the results alsoimply that investors react irrationally when facing the worsening economicconditions in the second half of 2008.

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Year of publication:	2009-09-01
Authors:	Zimmermann, Heinz ; Dietiker, Oliver
Institutions:	Wirtschaftswissenschaftliches Zentrum <Basel>
Published in:	Wirtschaftswissenschaftliches Zentrum <Basel> - Forschungsberichte WWZ Research Paper 09/09(B-110)
Subject:	Finanzierung \| finance \| Hedge Fund \| Investor \| Rationalität \| rational behaviour \| irrational \| irrational behaviour

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Extent:	478208 bytes 21 p. application/pdf
Type of publication:	Book / Working Paper
Language:	English
Classification:	Sociological and psychological aspects ; Financial theory ; Employment of capital, capital investment planning and estimate of investment profitability ; Individual Reports, Studies ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005868109