PONZI FINANCE AND THE HEDGE FUND INDUSTRY

Willi Semmler and Raphaele Chappe ()
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Raphaele Chappe: Economics Department, New School University, 6 East 16th Street, New York, NY 10003, USA;

Advances in Complex Systems (ACS), 2012, vol. 15, issue supp0, 1-25

Abstract: This paper presents a stochastic dynamic model that can be used to describe situations in asset management where hedge funds may inadvertently find themselves running a Ponzi financing scheme. Greater transparency is necessary to reduce such opportunities, such as audited financials, and disclosure of valuation methodologies. In that respect, new regulatory frameworks enacted by the Obama administration and the European Union are welcome developments.

Keywords: Ponzi finance; hedge fund; financial regulation (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1142/S0219525912500373

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