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Are momentum traders different? Implications for the momentum puzzle
Menkhoff, Lukas - 2010
-term horizon, by a behavioural view on the market and by a somewhat lower degree of risk aversion, whereas they are like other fund … the risk of momentum trading on short-term horizons and that the short-term oriented momentum traders are not in a …
Persistent link: https://www.econbiz.de/10010270394
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Quantifizierbarkeit von Risiken auf Finanzmärkten
Härdle, Wolfgang Karl; Kirchner, Christian F. W. - 2009
Risiko verbinden ließe, wenn man nur die Finanzprodukte entsprechend gestaltete, hat sich diese Wahnvorstellung …
Persistent link: https://www.econbiz.de/10010270820
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How risky is the German pension system? The volatility of the internal rates of return
Heidler, Matthias; Raffelhüschen, Bernd - 2005
In this paper we analyze exemplarily the volatility of the internal rates of return of the German pension system over the life-cycle of an individual born in 1957. The outcome is compared to an alternative defined-contribution or defined-benefit policy. Based on the actual data, our resultsshow...
Persistent link: https://www.econbiz.de/10010300850
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Do voluntary payments to advisors improve the quality of financial advice? An experimental sender-receiver game
Angelova, Vera; Regner, Tobias - 2012
The market for retail financial products (e.g. investment funds or insurances) is marred by information asymmetries. Clients are not well informed about the quality of these products. They have to rely on the recommendations of advisors. Incentives of advisors and clients may not be aligned,...
Persistent link: https://www.econbiz.de/10010281621
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The influence of buy-side analysts on mutual fund trading
Frey, Stefan; Herbst, Patrick - 2010
We present evidence of the impact of buy-side analysts on the behavior and performance of fund managers. Using data provided by a large global asset manager, we relate buy-side analysts' recommendations to fund transactions on a daily basis. Our results show that buy-side analysts have a...
Persistent link: https://www.econbiz.de/10010302544
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Trust, sociability and stock market participation
Georgarakos, Dimitris; Pasini, Giacomo - 2009
We investigate the effects of both trust and sociability for stock market participation, the role of which has been examined separately by existing finance literature. We use internationally comparable household data from the Survey of Health, Ageing and Retirement in Europe supplemented with...
Persistent link: https://www.econbiz.de/10010303716
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Zur Qualität professioneller Wechselkursprognosen
Schmidt, Robert - 2003
Die Berücksichtigung der zukünftigen Entwicklung des Wechselkurses ist sowohl für internationale Unternehmen als auch für international tätige Investoren unabdingbar. Allerdings ist die Erstellung von Wechsel- kursprognosen schwierig, da bis zum heutigen Zeitpunkt kein allgemein anerkanntes...
Persistent link: https://www.econbiz.de/10010305747
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Anlageverhalten auf Finanzmärkten: Das risikoaverse Handeln von Privathaushalten in Deutschland
von Lüde, Rolf - In: Wirtschaftsdienst 93 (2013) 5, pp. 328-336
kultureller Kontexte zu verstehen. Die Deutschen sind in ihrem Anlageverhalten stark sicherheitsorientiert, wobei sie ein - wie … in historical, institutional and cultural frameworks. Thus, the perception of fi nancial risk is a function of culturally … inherited social norms and conventions attached to different fi nancial risk-taking domains. Private investors' behaviour is …
Persistent link: https://www.econbiz.de/10011307038
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"Siegreiche Strategien". Geeignet für Anlagen zur Altersversorgung?
Scholtz, Hellmut D. - In: Die Rentenversicherung 45 (2004) 3, pp. 41-46
Es werden mehrere Anlagestrategien mit Hilfe von Stichproben und statistischen Signifikanztest untersucht,die in der Zeitschrift Capital als besonders erfolgversprechend empfohlen werden. Daraus lässt sich entnehmen, ob diese für eine Anlagestrategie zur Altersvorsorge eine gewisse Eignung...
Persistent link: https://www.econbiz.de/10010330975
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Do investors optimize, follow heuristics, or listen to experts?
Gehrig, Thomas P.; Güth, Werner; Levínský, René; … - 2008
In the experimental scenario several agents repeatedly invest in n (n2) state-specific assets. The evolutionarily stable and equilibrium (Blume and Easley, 1992) portfolio for this situation requires to distribute funds according to the constant probabilities of the various states. The different...
Persistent link: https://www.econbiz.de/10010274010