1,720,987 research outputs found
The Italian hedge funds industry: An empirical analysis of performance and persistence
No full textThis study analyses Italian hedge funds performance and persistence. The peculiarity of the Italian hedge fund industry is that 95% of the hedge funds are funds of hedge funds (FoHF), whereas only 5% of them employs other investment styles. Using monthly data on FoHF provided by MondoHedge, we examine the impact of both market variables and funds’ own characteristics on funds performance using panel data. We find that the European, the Japanese and the emerging markets equity markets, and the commodity market have a positive impact on Italian FoHF performances, while the US Bond Market negatively affects them. Moreover, we find performance fees and notice days to have a negative impact on funds performances. Finally, we test the presence of performance persistence. Employing two different nonparametric methods, we find that funds performances are persistent on a monthly and quarterly basis, while the regression-based parametric method provides evidence of persistence only on a monthly basis
CTC 2023 Frisona e Jersey: riflessioni e considerazioni
No full textIl 25 Ottobre 2023, nella sede di ANAFIBJ, si sono svolte le sedute delle Commissioni Tecniche Centrali dei Libri Genealogici della razza Frisona e Jersey. L’appuntamento è stata l’occasione per deliberare l’introduzione di importanti cambiamenti del processo di selezione delle due razze, su cui riporteremo alcune nostre riflessioni
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Improving Firms’ Decisions of Strategic Distribution Partnerships Through a New Artificial Neural Networks Approach
No full textPrivate Equity-Backed IPOs and Long-Run Market Performance Analysis of Italian Firms
No full textWe examine the long-run market performance of a sample of family and nonfamily Italian firms that went public from 1995 to 2005, in order to analyse the influence of family ownership and private equity participation on such performance. We first investigate the influence of family ownership and private equity participation on the full sample of firms considered. Afterwards, we restrict our attention to the subset of family firms, with the aim of studying the impact of private equity on their market performance. Symmetrically, we focus on the subsample of private equity backed IPOs and examine the effect of family ownership on this category of firms. As a result, our research does not provide any strong evidence of the expected positive synergies resulting from the association between private equity and family ownership
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