Vorteilhaftigkeit des börslichen Abendhandels aus Anlegersicht In dieser Studie werden die Effekte der Vorverlegung des Handelsschlusses im elektronischen deutschen Börsenhandelssystem Xetra am 3. November 2003 von 20.00 Uhr auf 17.30 Uhr auf den nicht-anonymen Parketthandel der Frankfurter...

Diese Dissertation liefert empirische Evidenz zum Investitionsverhalten von Privatanlegern. Es wird oft angenommen, dass Privatanleger schlechter informiert sind und deshalb weniger rational handeln als institutionelle Investoren. Die empirischen Befunde sind jedoch gemischt. Während der...

This paper examines individual investors' trading behaviour by testing the presence of Monday and January anomalies on the Polish futures market, where individuals are the predominant trader type. Both anomalies are well established in the literature, and they are at least partially attributed...

This paper contributes to the debate about the relative qualities of floor and electronic trading systems by analysing the effects of bringing forward the Xetra closing time from 8:00 pm to 5:30 pm in November 2003, while the Frankfurt floor remains open until 8:00 pm. This natural experiment...

In this thesis, I investigate diverse aspects of capital market efficiency in selected emerging markets. In chapter 2, the focus of analysis is on the role of trading volume and capitalisation in the process of information absorption by the stock prices. Empirical analysis is conducted for...

This paper investigates the dynamic relationship between index returns, return volatility, and trading volume for eight Asian markets and the US. We find crossborder spillovers in returns to be nonexisting, spillovers in absolute returns between Asia and the US to be strong in both directions,...

This paper investigates the dynamic relationship between index returns, return volatility, and trading volume for eight Asian markets and the US. We find crossborder spillovers in returns to be nonexisting, spillovers in absolute returns between Asia and the US to be strong in both directions,...

We analyze investors' motives for trading on international stock markets and investigate whether evidence for these motives is robust when time-varying market volatility, changes between calm and turbulent periods, and existence of international financial spillovers are controlled for. Applying...