Dieses Papier beschäftigt sich mit dem Herdenverhalten (“Herding”) vonInvestmentfondsmanagern in Folge von Analystenempfehlungen. Dabei wird zunächstuntersucht, ob sich überhaupt ein gleichgerichtetes Verhalten der Fondsmanager nachVeröffentlichung einer Analystenempfehlung beobachten...

The authors determine the time horizon on the risk of stock investments.

This paper provides evidence on the hypothesis that many behavioral finance patterns are sodeeply rooted in human behavior that they are difficult to overcome by learning. We test thison a target group which has undoubtedly very strong incentives to learn efficient behavior,i.e. fund managers....

Our questionnaire survey finds that most fund managers rely on the strategies ofbuy-&-hold, momentum and contrarian trading. These strategies are typically appliedmutually. Their use is rooted in the attributes and beliefs of the respective fund managers:buy-&-hold traders behave fundamentally...