Regulation of hedge funds and private equity
|Author:||Mgr. Michal Šinka|
|Year:||2011 - winter|
|Leaders:|| prof. PhDr. Petr Teplý Ph.D.
|Work type:|| Finance, Financial Markets and Banking
|Awards and prizes:|
|Abstract:||The aim of the thesis is to analyse the non-bank regulatory framework with particular
attention devoted to hedge funds and private equity funds. The thesis describes functioning
of the funds, discusses their performance during the global financial crisis of 2007-present
and, predominantly, describes and analyses the EU and U.S. regulatory reforms with
respect to these institutions which have arisen as a response to the crisis. Based on the
analysis of the measures incorporated in these reforms, the thesis outlines its own proposal
of an alternative investment fund regulatory framework which, if applied, would lead to a
more efficient functioning of the alternative investment industry than what is likely to be
the outcome of the already adopted reforms.
The nature of the thesis is institutional; its methodology is characterized by a broad
literature survey. Hedge funds and private equity funds are considered both in pre-crisis
context as well as in circumstances that have been brought about by the crisis. Several
hypotheses concerning systemic risk and the approach of the regulatory reforms to it are
assessed. Mostly qualitative analysis is employed to evaluate the hypotheses.