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The aim of this study is the analysis of so called socially responsible investments (SRI). First, the performance of SRI equity investment funds and equity indices is investigated using Jensen´s alpha as performance measure. The analysis considers market timing strategies of the fund management...
Persistent link: https://www.econbiz.de/10010298128
A fund's performance is usually compared to the performance of an index or other funds. If a fund trails the benchmark, the fund manager is often replaced. We argue that this may lead to excessive risk-taking if fund managers differ in ability and have the opportunity to take excessive risk. To...
Persistent link: https://www.econbiz.de/10010427567
Recent research reveals that hedge fund returns exhibit a range of different,possibly non-linear pay-off patterns. It is difficult to qualify all these patternssimultaneously as being rational in a traditional framework for optimal financial decisionmaking. In this paper we present a simple...
Persistent link: https://www.econbiz.de/10010324945
This paper examines the puzzlingly high unexploited momentum returns from a new perspective. We analyze characteristics of momentum traders in a sample of 692 fund managers. We find that momentum traders are 'defined' by their short-term horizon, by a behavioural view on the market and by a...
Persistent link: https://www.econbiz.de/10010270394
referring to the notion of responsibility which is a central concept of political philosophy and theory. It will be shown that …
Persistent link: https://www.econbiz.de/10010304380
In this paper, we discuss the relationship between responsibility and joint production. Responsibility mirrors our … ability to act freely. We can act freely only if we can assume responsibility for our actions and their consequences; the … limits of our responsibility are therefore also the limits of our liberty (part I). Thus, a problem of responsibility arises …
Persistent link: https://www.econbiz.de/10011422114
Probleme die Verantwortung trägt. In ihrer Komplexität machen es diese Umweltprobleme vielmehr fraglich, ob wir für unsere … Eingriffe in die Natur Verantwortung überhaupt übernehmen können. Und was heißt überhaupt: Verantwortung tragen oder … Verantwortung übernehmen? Diese Fragen lassen sich mithilfe des Konzepts der Kuppelproduktion untersuchen. In diesem Aufsatz …
Persistent link: https://www.econbiz.de/10011422124
Dorfentwicklung Niedersachsen. The article elaborates the importance of collective responsibility of citizens, administration and … municipalities in villages and points out the need for further studies. The need for taking over responsibility as a topic in the …
Persistent link: https://www.econbiz.de/10012108701
We derive a natural definition of responsibility in a formal model where employees care for their career prospects: A … are equilibria where either a single agent or no agent is responsible for a task but joint responsibility never arises …
Persistent link: https://www.econbiz.de/10010262163
, Verantwortung, Gerechtigkeit, Nachhaltigkeit und Corporate Citizenship – eingehend illustriert. Hierauf aufbauend skizziert der …, responsibility, sustainability, and corporate citizenship. Based on this analysis, the article spells out implications for the way …
Persistent link: https://www.econbiz.de/10011733747