In this paper, a model of bounded rational investors investing their portfolio in a passive investment vehicle (e ….g., an Exchange Traded Fund replicating a broad index) or an actively managed fund is presented. The model proposes that the … bubble increases for low market liquidity and high switching speed of investors. The market volatility increases for strong …

conclusion which may be related to the structure of the domestic stock market. Furthermore, we provide evidence against the …

financial decisionmaking. In this paper we present a simple model based on loss aversion that can accommodatefor all of these … finance research. …

considers market timing strategies of the fund management and takes publicly available information into account (conditional …

along with the development of the SRI fund market, the performance sensitivity of SRI investors has increased. Today, SRI …

.We apply a sophisticated operations research algorithm embedded in inverse portfolio optimization on financial market data, ESG …

2009 reveals the appeal of a recently constructed financial databank comprising the common market return, size, value, and … momentum factors according to Carhart (1997). These risk factors from the four-factor model allow us to estimate more reliable … risk-adjusted returns than in the restrictive one-factor model based on the Capital Asset Pricing Model. In both the US and …

society including businesses. Companies have integrated corporate social responsibility into their business model as a kind of …