...After imposing liquidity constraints, and after correcting for non-surviving vehicles, we get a sample of 114 instruments. The risk and return characteristics of three portfolio strategies, two partially rebalanced and one fully rebalanced, are compared.

The question of whether the CEO should also serve as chairman of the board is one of the most hotly debated issues in the recent corporate governance discussion. While agencytheoretic arguments advocate a separation of decision and control functions, the empirical evidence focusing on U.S....

Current discussions about public and private pension plans often state that the stock market is less risky in the long run than in the short run. Pension plans with their rather long planning horizon are therefore asked to increase the allocation to the stock market. Such statements, however,...

Das Anlageverhalten von Privatinvestoren unterscheidet sich teilweise markant von Voraussagen, die aufgrund von Modellen der Portfolioselektion getroffen werden können. So sind zum Beispiel Portfolios häufig nicht breit diversifiziert, weder bezüglich der Anzahl Titel noch bezüglich der...