# kaal:claim:3405660-010

**Claim.** Hedge fund disclosure to counterparties and investors relies on balance sheet concepts that are uninformative about the actual nature of market risk and credit risk exposures.

**Type.** failure  **Support.** argued

**Source quote.**

> Disclosure by hedge funds to counterparties and investors are often made by using balance-sheet concepts, which are not informative about the nature of the exposures to market risk and credit risk.

**From.** Kaal, *Indirect Regulation of Hedge Funds* (2019), II.1 Industry Practices, page 11

**Cite as.** Kaal, Indirect Regulation of Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3405660

**Verify.** sha256 of source PDF `cf507b1833071765bc13a5605f38c2591582eca85f40869e38b6ff075c04d29d` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Indirect%20Regulation%20of%20Hedge%20Funds.pdf

**Failure mode.** balance sheet disclosure inadequacy  (family: disclosure-ineffectiveness)

**Topics.** disclosure, economics, risk-and-incentives, private-funds

**Keywords.** disclosure, market-risk, credit-risk, hedge-fund-transparency

**Related claims.**

- supports: https://wulfkaal.github.io/claims/2714974-026
- extends: https://wulfkaal.github.io/claims/2714974-025

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.