Demographic changes, tight public budgets, and reduced generosity of occupational pension plans shift the responsibility for an adequate retirement provision towards the individual. Applying the theoretical perspectives of Behavioral Finance and New Institutionalism to the domain of retirement...

Consumer education and advice can play a vital role in raising awareness for a potential undersaving for retirement. Both may help consumers to select the appropriate pension plan, provider and product and to revise and adapt already taken decisions. Presenting offers in financial education in...

The underpricing phenomenon of Initial Public Offerings (IPOs) has been widely studied across different stock markets around the world and has often been explained to be a result of asymmetrically distributed information and ex-ante uncertainty. However, as Ritter and Welch (2002) argue, these...

The overallotment or greenshoe option has become very popular in the German IPO market since its introduction in 1995 and is nowadays an important tool to stabilize IPOs or to issue additional shares in the case of excess demand. Besides providing evidence for the prevalence of price support...

Real-world portfolio composition is often far from being mean-variance optimal. One of the phenomena documented in investment portfolios is the home bias effect, that is, investors hold a higher-than-optimal portion of domestic assets. Analyzing hand-collected data from annual reports of German...