Zusammenfassung Die häufig verwendeten Wissensabfragen zur Messung der Financial Literacy sind nur ein schwacher Prädiktor für tatsächliches Finanzverhalten. Dieser Beitrag verwendet daher Fallbeispiele als eine realitätsnahe Alternative zu Wissensabfragen, um auf die praktische Financial...

Portfolio selection has been in the focus of financial research for at least thirty years. With a hand-collected data set containing information about the portfolio structure of private and institutional investors our paper gives a brief literature review and sheds light on the home bias effect...

Election results may influence corporate performance by general changes in government spending and tax changes. In addition, specific companies or sectors might benefit or suffer from sector-specific governmental decisions. Stock market participants will incorporate expectations about political...

The currently observable flight of investors out of investment funds is counterintuitive even in a crisis situation, because they forego the benefits of the collective investment offered by the funds. In order to unveil the reasons for this development we analyze the internal governance...

The traditional information paradigm postulates that increasing the amount of information and establishing full transparency helps consumers with their decisions. We challenge this assumption and address criteria that good consumer information needs to fulfil. Based on the findings from research...

We analyze the impact of individuals' degree of extraversion and neuroticism on their decision making in an experimental asset market. To establish this link between research on experimental asset markets and social psychology we use a unique approach that combines a questionnaire designed to...

We perform an event study analysis to determine short-term abnormal stock returns following the Brexit referendum. Moreover, we examine whether firm-level internationalization helps explaining abnormal returns. We find that stocks of firms with higher proportions of domestic sales realized more...

Investors who only invest in their domestic market are typically referred to as being home-biased. We refer to firm-level internationalization and call into question whether investing in domestic stock indices actually leads to home bias. We use three measures of firm-level internationalization...