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What is the value of retail order flow?
Hoffmann, Peter; Jank, Stephan - 2024
This paper uses regulatory data to assess the value of retail order flow in the German equity market. To this end, we examine the performance of specialized retail market makers (RMMs) that internalize a large share of retail activity via affiliated trading venues. We show that retail market...
Persistent link: https://www.econbiz.de/10015048481
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The prospects of capital markets in Central and Eastern Europe
Köke, F. Jens - 2002
Persistent link: https://www.econbiz.de/10013428498
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Do financial market experts know their theory? : new evidence from survey data
Brückbauer, Frank - 2022 - This draft: April 2022
Using a unique survey dataset, I study how financial market experts form their stock market expectations. I document a strong disagreement among experts about how important macroeconomic and financial variables are related to stock returns. The results of an analysis of the relationships between...
Persistent link: https://www.econbiz.de/10013175639
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Do financial market experts know their theory? : new evidence from survey data
Brückbauer, Frank - 2020
Using a unique survey dataset, the author studies how financial market experts form their stock market expectations. He documents a strong disagreement among experts about how important macroeconomic and financial variables are related to stock returns. The results of an analysis of the...
Persistent link: https://www.econbiz.de/10012420532
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Financial crises and the dynamic linkages between stock and bond returns
Eraslan, Sercan; Ali, Faek Menla - 2017
This paper investigates the dynamic linkages in terms of the first and second moments between stock and bond returns, within a wide range of advanced economies, over the different phases of the recent financial crisis. The adopted empirical framework is a bivariate volatility model, where...
Persistent link: https://www.econbiz.de/10011663407
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Toothless tiger with claws? : financial stability communication, expectations, and risk-taking
Beutel, Johannes; Metiu, Norbert; Stockerl, Valentin - 2021
-taking. Using a randomized information experiment, we show that communication causally affects individuals’ beliefs and investment …
Persistent link: https://www.econbiz.de/10012489541
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Financial literacy, stock market participation, and financial well-being in Germany
Bucher-Koenen, Tabea; Janssen, Bennet; Knebel, Caroline; … - 2023
We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...
Persistent link: https://www.econbiz.de/10014504767
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Capital markets, ownership and distance
Carlin, Wendy (contributor); Charlton, Andrew (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003360229
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Financial shocks and the relative dynamics of tangible and intangible investment : evidence from the euro area
Gareis, Johannes; Mayer, Eric - 2020
autoregres-sion (SVAR) framework, that, in response to an adverse financial shock, tangible in-vestment falls more than … intangible investment. This positive co-movement betweentangible and intangible investment as well as the relative resilience of … intangibleinvestment pose a challenge for the theoretical model. We show that investment-specific adjustment costs help in reconciling the …
Persistent link: https://www.econbiz.de/10012256498
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Financial markets and the allocation of capital : the role of productivity
Di Mauro, Filippo; Hassan, Fadi; Ottaviano, Gianmarco I. P. - 2018
Persistent link: https://www.econbiz.de/10011883870