Similar Search Results

International diversification benefits with foreign exchange investment styles

Kroencke, Tim Alexander; Schindler, Felix; Schrimpf, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

This paper provides a comprehensive analysis of portfolio choice with popular foreign exchange (FX) investment styles such as carry trades and strategies commonly known as FX momentum, and FX value. We investigate if diversification benefits can be achieved by style investing in FX markets...

Persistent link: https://www.econbiz.de/10009003568

Capital Mobility within EMU

Stirböck, Claudia; Heinemann, Friedrich - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 1999

Capital mobility is helpful to cope with the loss of adjustment instruments in EMU. High capital mobility in the sense of Feldstein and Horioka (FH) can limit the negative consequences of shocks affecting the saving capacity of an economy in the Eurozone. It is the aim of this paper to assess...

Persistent link: https://www.econbiz.de/10005098044

Price Discovery for Cross-Listed Securities from Emerging Eastern European Countries

Wölfle, Marco - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007

This study provides empirical evidence verifying the theory of price discovery for Eastern European enterprises based on their cross-listing on Western European exchanges. Despite the fact that the crosslisting behavior of companies has been analyzed very actively since the mid-70s, many...

Persistent link: https://www.econbiz.de/10005097674

How integrated are the European retail financial markets? A cointegration analysis

Heinemann, Friedrich; Schüler, Martin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2002

With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail financial markets is less advanced. For measuring financial market integration this...

Persistent link: https://www.econbiz.de/10005097922

What is the wind behind the sails to go abroad? Empirical evidence from the mutual fund industry

Lang, Gunnar; Schäfer, Henry - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

Specific industry factors determining cross-border business set-up in the European mutual fund industry are analyzed to contribute to the understanding of production specificities in the financial industry. The findings indicate that the decision on where to domicile a fund is not primarily...

Persistent link: https://www.econbiz.de/10010985661

How does the domiciliation decision affect mutual fund fees?

Lang, Gunnar; Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

In this paper, we analyze whether the domiciliation decision of mutual funds has an impact on fund fees. To explain the fee price-setting of mutual funds, we consider characteristics specific to funds, fund companies, and countries. We find that fees vary considerably across fund types and...

Persistent link: https://www.econbiz.de/10010985715

Downside risk optimization in securitized real estate markets

Kroencke, Tim Alexander; Schindler, Felix - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

Optimization of international securitized real estate portfolios has been a key topic for several decades. However, most previous analysis has focused on regional diversification by applying the traditional mean-variance (MV) framework suggested by Markowitz (1952) even if the limitations of...

Persistent link: https://www.econbiz.de/10008568598

International diversification with securitized real estate and the veiling glare from currency risk

Kroencke, Tim Alexander; Schindler, Felix - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

This paper analyzes diversification benefits from international securitized real estate in a mixed-asset context. We apply regression-based mean-variance efficiency tests, conditional on currency-unhedged and fully hedged portfolios to account for foreign exchange risk exposure. From the...

Persistent link: https://www.econbiz.de/10008869221

Age and productivity: Sector differences?

Göbel, Christian; Zwick, Thomas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

In most industrialised countries, the workforce is ageing rapidly. If ageing workforces affect sectors differently, the … possibilities to compensate deficits in skills differ between sectors. We investigate differences in the age-productivity profiles … between the (metal) manufacturing and services sectors. However, in our preferred specification that controls for several …

Persistent link: https://www.econbiz.de/10009323189

Worker Remittances and Capital Flows to Developing Countries

Kuckulenz, Anja; Buch, Claudia M. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004

Worker remittances constitute an increasingly important mechanism for the transfer of resources from developed to developing countries, and remittances are the second-largest source, behind foreign direct investment, of external funding for developing countries. Yet, literature on worker...

Persistent link: https://www.econbiz.de/10005097727