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This study questions the rationality of people investing in HFs. I usea sample of London listed closed-end hedge funds to evaluate two criteriathat imply irrational behavior. I nd that the rationality of investorscan not be rejected for the majority of time. However, the results alsoimply that...
Persistent link: https://www.econbiz.de/10005868109
Dieses Papier untersucht vier Themenbereiche: Erstens werden die Determinanten der Netto-Zuflüsse in Hedgefonds untersucht. Zweitens betrachten wir die Anreize für das Management von Hedgefonds. Drittens untersuchen wir das Verhalten von Hedgefondsinvestoren. Schliesslich betrachten wir, was...
Persistent link: https://www.econbiz.de/10005854266
Mechanismen und Einsatz von Hedge Funds als Anlageinstrument werden seit längerem sowohl in der Theorei wie auch in der Praxis kontrovers diskutiert. Einerseits werden die Risiken von Hedge Funds als Argument gegen deren Einsatz aufgeführt und andererseits die statistischen Charakteristiken...
Persistent link: https://www.econbiz.de/10005856982
In this paper, we first discuss the characteristics and major benefits of the Swissrisk-based capital standards for insurance companies (Swiss Solvency Test), introduced in 2006. As the insurance industry is one of the largest institutional investors in Switzerland, changes to its asset and...
Persistent link: https://www.econbiz.de/10005861404
This paper examines how the evidence of stock market predictability affectsoptimal portfolio choice for buy-and-hold and dynamic investors withdifferent planning horizons. As in Barberis (2000), particular attention ispaid to estimation risk, i.e., uncertainty about the true values of the...
Persistent link: https://www.econbiz.de/10005862986
oneperiodoptimization framework; often the mean-variance framework ofMarkowitz (1952). They therefore neglect that an investor’s welfare … the difficulties when an investor applies a myopic optimizationframework in a stochastic and dynamic market environment …
Persistent link: https://www.econbiz.de/10005862987
ausgewähltekulturell bedingte Probleme an der Schnittstelle zwischen Investor-Relations-Managern undinstitutionellen Investoren erarbeitet …Globally operating corporations are increasingly confronted with the specific behavior of aculturally diverse investor … interface of investor relationsmanagers and institutional investors. Thus, the communication and information process ofboth …
Persistent link: https://www.econbiz.de/10005864358
investor decides betweena riskless bond and a risky asset, we distinguish three aspirationlevels: a lowest threshold that one …
Persistent link: https://www.econbiz.de/10005866829
We examine whether consumer confidence – as a proxy for individual investor sentiment –affects expected stock returns …
Persistent link: https://www.econbiz.de/10005867402
Existing empirical evidence is inconclusive whether professional investors show moresophisticated behavior than individual investors. Therefore, we study two importantgroups of professional investors and compare them to laymen by way of a survey coveringabout 500 investors. We find that some...
Persistent link: https://www.econbiz.de/10005867422