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Hedge fund performance and managerial social capital

Author

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  • Rosmah Mat Isa
  • Rashid Ameer

Abstract

Purpose - This article seeks to explain and empirically test the relationship between managerial social capital and hedge fund performance. Design/methodology/approach - This article uses a capital asset pricing model (CAPM)‐style five factor model to estimate excess returns for the top 25 hedge funds. Findings - The results show that hedge funds managers with more affiliation diversity have higher annualised rate of return. This result seems to suggest managers with more social networks and affiliation have access to market niche of wealthy investors to increase their investor base. Hedge fund managers' prior skills sets and repertoire of knowledge significantly influence their risk taking attitude. Research limitations/implications - The sample consists of the top 25 hedge funds. Originality/value - The article discusses the role and implications of managerial social capital in hedge fund marketing and performance.

Suggested Citation

  • Rosmah Mat Isa & Rashid Ameer, 2007. "Hedge fund performance and managerial social capital," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 8(3), pages 246-259, May.
    • Handle: RePEc:eme:jrfpps:15265940710750495
    DOI: 10.1108/15265940710750495
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