We compare the forecasting ability of the ifo-business expectations and ZEW-business expectations for the German industrial production in detail. Both are qualitative monthly surveys. While the ifo indicator is based on surveys of enterprises, the ZEW polls financial analysts from banks,...

We document using the ZEW panel of German stock market forecasters that weak forecasters tend to be overconfident in the sense that they provide extreme forecasts and their confidence intervals are less likely to contain eventual realizations. Moderate filters based on forecast accuracy over...

This paper shows that politicians' pressure to climb the career ladder increases bank risk exposure in their region. Chinese local politicians are set growth targets in their region that are relative to each other. Growth is stimulated by debt-financed programs which are mainly financed via bank...

In recent years, the socially responsible investing (SRI) industry has become an important segment of international capital markets by incorporating ESG (Environmental, Social and Governance) factors into investment selection and management processes. This study analyses whether SRI mutual funds...

This paper extends earlier studies on exchange rate expectations' formation by using new data and adding information about forecasters' reliance on fundamental analysis for the first time. We replicate the conventional result of non rational expectations. Moreover, biases in expectations are...

Dieses Papier betrachtet den Effekt der Umwelt- und Sozialperformance europäischer Unternehmen auf deren durchschnittliche monatliche Aktienrendite zwischen 1996 und 2001. Die Studie basiert auf zweistufigen ¨okonometrischen Verfahren, die neuere finanzökonomische Erkenntnisse (insbesondere...

Studie zu Dispozinsen / Ratenkrediten Aktenzeichen: 514-06.01-2810HS034 Laufzeit 8/2011 – 5/2012 - Zusammenfassung – In Deutschland verfügen etwa 80 Prozent der Haushalte über einen Dispositionskredit. Bei beträchtlicher Variation liegt der eingeräumte Kreditrahmen bei knapp dem 3-fachen...

Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading question analysed in this apper. In contrast to other studies we use expectations instead of realised data. Therefore we analyse the implicit structural models forecasters have in...

[Einleitung] China ist inzwischen zu einem wichtigen Faktor der Weltwirtschaft geworden. Entsprechend sind die Einschätzungen der aktuellen Situation sowie der zukünftigen Entwicklung der chinesischen Wirtschaft von großer Bedeutung für die Beurteilung des Wirtschaftswachstums in Asien, USA,...