Long-Run Performance Evaluation of Journalists' Stock Recommendations This paper evaluates the long-run performance of buy and sell recommendations issued by journalists at German Personal Finance Magazines for the first time. We find evidence for journalists providing significant investment...

This study analyzes the accuracy of forecasted target prices within analysts' reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown) 12-month stock price. Furthermore, we determine factors that explain...

This study examines how the profiles of newly tenured business economics professors in Germany have changed over the past thirty years. We document how business economics professors have become more diverse over time, e.g., in terms of their gender and the internationality of their education....

In this paper, we substitute anecdotal with empirical evidence regarding the publication behavior of German business administration professors. We find that in particular the publication behavior of accounting researchers differs strongly from the publication behavior of researchers in other...

Portfolio Complexity and Herd Behavior: Evidence from the German Mutual Fund Market We examine the herd behavior among equity funds in Germany based on a large sample of funds from 2000 to 2009. We show that a large portion of the detected herding can be explained by identical trading among...

Our study focuses on the question whether corporate insiders in Germany exploit inside information while trading in their company's stock. In contrast to prior international studies, which are not able to link insider transactions to a formal definition of inside information, we relate insider...