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Multifaktormodelle zur Erklärung deutscher Aktienrenditen: eine empirische Analyse
Stehle, Richard; Schulz, Anja; Schröder, Michael; … - 2003
Dieses Papier untersucht, inwieweit Multifaktormodelle nach Fama/French (1993) am deutschen Aktienmarkt die zeitliche Streuung von Renditen abbilden und Portfolio-Renditen im Querschnitt erklären können. Analog zu vergleichbar angelegten Studien am US-amerikanischen, kanadischen und britischen...
Persistent link: https://www.econbiz.de/10010297296
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Der Einfluss ökologischer und sozialer Nachhaltigkeit auf den Shareholder Value europäischer Aktiengesellschaften
Schröder, Michael; Rennings, Klaus; Ziegler, Andreas - 2002
Dieses Papier betrachtet den Effekt der Umwelt- und Sozialperformance europäischer Unternehmen auf deren Shareholder Value. Der Shareholder Value wird dabei mit der durchschnittlichen monatlichen Aktienrendite zwischen 1996 und 2001 operationalisiert. Die Studie basiert auf zweistufigen...
Persistent link: https://www.econbiz.de/10010298089
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The Connection of Stock Markets Between Germany and the USA: New Evidence From a Co-integration Study
Eberts, Elke - 2003
run. Thus, the estimation period shows that with increasing forecasting horizon predictability of simple real returns of …
Persistent link: https://www.econbiz.de/10010297288
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German Exchange Rate Exposure at DAX and Aggregate Level, International Trade, and the Role of Exchange Rate Adjustment Costs
Jamin, Gösta; Entorf, Horst - 2004
multi-factor modelling instead of augmented CAPM, application of moving window panel regressions, orthogonalization of …
Persistent link: https://www.econbiz.de/10010297319
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Modeling Asset Returns: A Comparison of Theoretical and Empirical Models
Lüders, Erik; Schröder, Michael - 2004
model performs well, the estimation for two indices could be significantly improved by an extension which follows from the …
Persistent link: https://www.econbiz.de/10010297345
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Are IPOs of Different VCs Different?
Tykvová, Tereza; Walz, Uwe - 2004
This paper sets out to analyze the influence of different types of venture capitalists on the performance of their portfolio firms around and after IPO. We investigate the hypothesis that different governance structures, objectives, and track records of different types of VCs have a significant...
Persistent link: https://www.econbiz.de/10010297354
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The Power Law and Dividend Yields
Lüders, Erik; Lüders-Amann, Inge; Schröder, Michael - 2004
Recent research suggests that the power law is one of the most universal laws in nature and it also seems to work quite fine in economics and finance. In this paper we show that the power law explains extremely well the relationship between the value of broad-based market indices and their...
Persistent link: https://www.econbiz.de/10010297376
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GPD-linked Bonds as a Financing Tool for Developing Countries and Emerging Markets
Schröder, Michael; Heinemann, Friedrich; Kruse, Susanne; … - 2004
The paper examines the applicability of GDP-linked bonds for the financing of developing countries and emerging markets. GDP-linked bonds are bonds of which the coupon and/or redemption payments are tied to the GDP of the issuing country. The study encompasses a detailed empirical analysis of...
Persistent link: https://www.econbiz.de/10010297388
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The Impact of a Stock Market Downturn on Corporate Financing Activities in Germany
Westerheide, Peter; Meitner, Matthias - 2005
The paper analyses the potential impact of stock market developments on lending behaviour from different perspectives. First we scrutinize the impact of stock market movements on the banks' and on the borrowers' balance sheets. Subsequently we estimate aggregate credit supply and demand...
Persistent link: https://www.econbiz.de/10010297504
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Makroökonomische Nachrichten und die Reaktion des 15-Sekunden-DAX: Eine Ereignisstudie zur Wirkung der ZEW-Konjunkturprognose
Entorf, Horst; Steiner, Christian - 2006
In der vorliegenden Arbeit wird die Reaktion des DAX auf makroökonomischen Konjunkturmeldungen in Form von Veröffentlichungen des ZEW-Finanzmarkttests untersucht. Zur Messung der Reaktion stehen die 15- Sekunden-Intraday-Realisationen des XDAX zur Verfügung. Die mittels Vergleich von...
Persistent link: https://www.econbiz.de/10010297516