Risk Analysis of a Hedge Fund Oriented on Sustainable and Responsible Investments for Emerging Markets

Prelipcean, Gabriela; Boșcoianu, Mircea

doi:10.24818/ea/2020/55/653

Cited by 7 publications

(6 citation statements)

References 12 publications

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“…Coming to the most recent period of 2016−2020, there is a drastic increase in PCSI publications, with all but one theme (ESG issues) being directly addressed, although they are indirectly linked to other themes (Aggarwal & Elembilassery, 2018;Agrawal & Hockerts, 2019;Alakent et al, 2020;Antarciuc et al, 2018;Bazley et al, 2017;Bhatt & Ahmad, 2017;Cetindamar & Ozkazanc-Pan, 2017;Chiapello & Gaëtan, 2017;Cumming et al, 2016;de Lange, 2019;Desmarais et al, 2017;Genoud, 2020;Indahl & Jacobsen, 2019;Jadevicius, 2020;Kölbel et al, 2020;Lu et al, 2020;Mayer & Scheck, 2018;Milam, 2018;Poyser et al, 2020;Prelipcean & Boscoianu, 2020;Precup, 2019;Puaschunder, 2017;Sharma et al, 2018;Siddiqui & Marinova, 2019;Watts & Scales, 2020;Xue et al, 2019;Zaccone & Pedrini, 2020;Zhu & Lu, 2020). We expect the sudden increase in publications, with ten published in 2020 alone, is due to the UN SDGs, the COVID-19 pandemic's influence on the focus on social and public well-being, including calls for renewed energy in the fight against climate change and corporate corruption, which many of these authors have touched upon.…”

Section: Theoretical Considerationsmentioning

confidence: 99%

Sustainability in Private Capital Investing: A Systematic Literature Review

Mirza¹,

Dordi²,

Alguindigue³

et al. 2023

JMS

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The private capital asset class has grown to over $10 trillion in assets under management and has significant potential to contribute to environmental, social, and governance (ESG) goals. However, there is a dearth of academic research about ESG with regards to private capital investing. This literature review adopted a mixed-methods approach, combining a quantitative (bibliometric) analysis with a qualitative review of the articles. It was found that less than 1% of the literature, written in English, between 1960-2020 on private equity and venture capital addresses topics related to sustainability. It was also observed that the 46 papers which address sustainability topics can be categorized into 13 themes, including certifications and standards, impact investing, and corporate social responsibility. Investment in private securities grew at twice the rate as public securities during the end of this time-period and interest in sustainability integration in private capital investing is growing. Incentives for private equity and venture firms to engage with sustainable investments are being driven by institutional investors, such as pension funds and insurance companies. The focus of sustainability research has typically been on public markets, hindering the potential of private capital investment to influence sustainable policy and practices. The objective of this paper is to provide evidence of the dearth of academic literature on the topic of private capital markets and sustainable investment, while identifying current themes in the existing literature so that future work may address gaps in research.

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Section: Theoretical Considerationsmentioning

confidence: 99%

Sustainability in Private Capital Investing: A Systematic Literature Review

Mirza¹,

Dordi²,

Alguindigue³

et al. 2023

JMS

View full text Add to dashboard Cite

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“…This study is also useful for the creation of an extended knowledge in the field of active portfolio management in emerging markets based on a better capability for long term learning of emerging markets. The application is dedicated for the active selection of the sub-portfolios of a hedgefund in Romanian capital markets [5], [6], [7], [8]. Hedge funds (HFs) represent private investment vehicles capable to manage diversified portfolios (not only listed instruments like stock and bonds but also derivatives).…”

Section: The Inspiration For An Innovative Design Of a Hedge-fund Architecture For Emerging Marketsmentioning

confidence: 99%

Aspects Regarding a New Methodology for Active Portfolio Management of Hedge Funds Alternative in Emerging Markets-the Case of Romanian Capital Market in the Actual Context of Post-Crisis Recovery

Vrăjitoru

Boșcoianu

Boscoianu

2021

International Conference KNOWLEDGE-BASED ORGANIZATION

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In emerging markets, the processes in portfolio management should be adapted according to the typical constraints (market liquidity aspect and other market imperfections)that limits the use of alternative instruments / strategies and diversification capabilities. The aim is to develop a new way to understand and implement innovative solutions in real portfolio management in the case of Romanian capital market. The innovation is based on a scalable hedge-fund (HF) structure that capture different alternative instruments. This HF architecture represents a versatile dynamic AIF, equipped with capabilities to integrate the synergies between diversification based on alternative instruments but also the diversification based on alternative strategies and it integrates a core thematic sub-portfolio and 2-4 satellite rotating sub-portfolios capable to compensate the impossibility to use short sales and leverage strategies.

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“…TAS (Triple Alternative Synergy) is a metaphor for complementary financing in the case of emerging markets, which takes into account a triplet of alternatives (Instruments-Strategies-Partnerships / architectural relationships) [10,14,15,16]. TAS is not only an innovative concept proposed in this paper but also a practical way that offers effective concrete possibilities to achieve the desideratum of complementary financing in emerging markets.…”

Section: Highlighting the Possibilities For Complementary Financing -Through Tasmentioning

confidence: 99%

Aligning Complementary Funding Opportunities – through TAS – the Smart Answer to the Challenges of Industry 4.0 Transformation

Vrăjitoru

Boșcoianu

Boscoianu

2021

RECENT

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Industry 4.0 transformation is an opportunity that needs to be carefully considered in a different way in emerging markets. The opportunity aims to reduce the gap with developed markets through the link of democratizing the elements of innovation (organizational and transformational technique). Although new funding programs have emerged, accessibility to funding for priority directions and for locations and regions of interest is only slightly related to expectations. Thus, the concept of complementary financing is proposed and alternative solutions and strategies based on the triple alternative assets -(venture capital and private equity funds), alternative strategies -(hedge funds adapted for emerging markets) and alternative partnerships (public -private partnerships) are identified. The proposed innovative idea is based on capturing the synergies between the three elements of the mentioned triplet and the ability to quickly connect to the financing flow through major programs (NRFF, H2020, NGD). The challenge refers to the reduced functionality of the Romanian capital market, the proposal aiming at practical solutions for creating the adequate complementary financing framework in relation to the real priorities, their dynamics but also the national strategy for reducing local and regional disparities in Romania. The idea is innovative, through modularity and scalability gives real integration capabilities in practice. It also provides an adequate response to the case of low functionality offered by emerging capital markets. In this case the special purpose vehicle SPV is represented by a special dedicated hedge fund with rotating sub-portfolios.

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Risk Analysis of a Hedge Fund Oriented on Sustainable and Responsible Investments for Emerging Markets

Cited by 7 publications

References 12 publications

Sustainability in Private Capital Investing: A Systematic Literature Review

Sustainability in Private Capital Investing: A Systematic Literature Review

Aspects Regarding a New Methodology for Active Portfolio Management of Hedge Funds Alternative in Emerging Markets-the Case of Romanian Capital Market in the Actual Context of Post-Crisis Recovery

Aligning Complementary Funding Opportunities – through TAS – the Smart Answer to the Challenges of Industry 4.0 Transformation

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