There are several investigations about the benefits of squalene.
The European Commission for Health and Consumers catalogues squalene as an ingredient for cosmetic. This institution says that squalene has several funtions: antistatic, emollient, hair conditioning, refatting and skin conditioning.
http://ec.europa.eu/consumers/cosmetics/cosing/index.cfm?fuseaction=search.details&id=78861
“In summary, squalene is a hydrophilic natural antioxidant. Its antiradical and antioxidant properties depend on the model system employed for the study. Nevertheless, investigations of the antioxidant properties in animal and human models are still required” Amarowicz, R. (2009), Squalene: A natural antioxidant?. Eur. J. Lipid Sci. Technol., 111: 411–412. doi: 10.1002/ejlt.200900102
In the following link, Dr. Ronco speaks about the benefits of squalene.
https://www.youtube.com/watch?v=fS3ZuMaRy64
