Associate Professor Li Lu of the School of Economics and Finance, with his research team， has published their paper “Structural Holes and Hedge Fund Return Co-movement: Evidence from Network-connected Stock Hedge Funds in China” in SSCI Journal Accounting & Finance (Volume 60. Issue 3. September 2020). The other three team members are Dr. Li Yang (School of Economics and Finance, Shanghai International Studies University), Ph.D. Candidate Wang Xueding (School of Accountancy, Shanghai University of Finance and Economics; 2019 graduate of the Master of Finance Program in Shanghai International Studies University), and Associate Professor Xiao Tusheng (School of Accountancy, Shanghai University of Finance and Economics). This paper finds that the Chinese hedge funds have developed into the most important institutional investors in the equity market. It also discovered the structural holes of a hedge fund manager’s alumni networks would be related to hedge fund performance co-movement, which contains potential risk during rising and falling periods. This paper provides the academic field on hedge funds with new empirical evidence from China (market), offers the financial regulatory system of China policy proposals to formulate relevant supervisory regulations on hedge funds as well.
Translated by（Shi Kefan）
(Ji Yining)
