This book presents a series of contributions on key issues in the decision-making behind the management of financial assets. It provides insight into topics such as quantitative and traditional portfolio construction, performance clustering and incentives in the UK pension fund industry, pension...

This thesis consists of three essays on the interaction of investor clienteles and mutual fund behavior. The first essay (Cici, Kempf, and Sorhage 2015, Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flowsʺ) adds to the literature on fund...

An informative look at institutional investment management methods and practiceThe policies, practices, and decisions of institutional investment managers worldwide affect the economic health of not only the institutions themselves, but of countless individual clients as well. Overall, this area...

This dissertation consists of three empirical studies on capital market efficiency in a broader sense. Two of the three papers are dedicated to the examination of short-term stock-returns in the wake of large one-day price changes – positive or negative. If significant abnormal returns can be...