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Kosten der privaten Altersvorsorge: Private Rentenversicherungen und Fondssparpläne im Vergleich

Westerheide, Peter - 2001

Ansparen in Investmentfonds mit gleicher durchschnittlicher Renditeerwartung vor Kosten, wie sie private Rentenversicherungen … bieten, und den hier unterstellten Kosten für aktienorientierte Investmentfonds aus Kostensicht nicht immer effizient ist …. Sofern aktienorientierte Investmentfonds jedoch im langfristigen Durchschnitt höhere Renditen vor Kosten erwirtschaften …

Persistent link: https://www.econbiz.de/10010297736

The Benefits of Creating an Integrated EU Market for Investment Funds

Heinemann, Friedrich - 2002

The fast growing EU market for investment funds is still characterised by a continuing relevance of national borders. This papers assesses this market?s degree of integration, the potential benefits from more integration and the obstacles to cross-border sales of funds. The analysis shows that...

Persistent link: https://www.econbiz.de/10010298094

Socially Responsible Investments in Germany, Switzerland and the United States: An Analysis of Investment Funds and Indices

Schröder, Michael - 2003

The aim of this study is the analysis of so called socially responsible investments (SRI). First, the performance of SRI equity investment funds and equity indices is investigated using Jensen´s alpha as performance measure. The analysis considers market timing strategies of the fund management...

Persistent link: https://www.econbiz.de/10010298128

The Connection of Stock Markets Between Germany and the USA: New Evidence From a Co-integration Study

Eberts, Elke - 2003

This paper uses an empirical connection between real stock market indices of Germany and the USA for forecasting corresponding returns. We are starting from the random walk as the traditional forecasting model in stock market applications, extending it by co-integration. Since the cointegrating...

Persistent link: https://www.econbiz.de/10010297288

Multifaktormodelle zur Erklärung deutscher Aktienrenditen: eine empirische Analyse

Stehle, Richard; Schulz, Anja; Schröder, Michael; … - 2003

Dieses Papier untersucht, inwieweit Multifaktormodelle nach Fama/French (1993) am deutschen Aktienmarkt die zeitliche Streuung von Renditen abbilden und Portfolio-Renditen im Querschnitt erklären können. Analog zu vergleichbar angelegten Studien am US-amerikanischen, kanadischen und britischen...

Persistent link: https://www.econbiz.de/10010297296

German Exchange Rate Exposure at DAX and Aggregate Level, International Trade, and the Role of Exchange Rate Adjustment Costs

Jamin, Gösta; Entorf, Horst - 2004

overall market risk vis-?-vis currency risk). The main innovation lies in testing implications of exchange rate adjustment … level. Furthermore, there is indication of asymmetric adjustment costs as effects from appreciations of domestic currency …

Persistent link: https://www.econbiz.de/10010297319

Modeling Asset Returns: A Comparison of Theoretical and Empirical Models

Lüders, Erik; Schröder, Michael - 2004

This paper presents and compares several time-series models for returns of broadbased stock indices. These models nest a nonlinear asymmetric GARCH (NGARCH) model as a special case. Some of these models are empirically motivated ad-hoc specifications others are derived from a representative...

Persistent link: https://www.econbiz.de/10010297345

Are IPOs of Different VCs Different?

Tykvová, Tereza; Walz, Uwe - 2004

This paper sets out to analyze the influence of different types of venture capitalists on the performance of their portfolio firms around and after IPO. We investigate the hypothesis that different governance structures, objectives, and track records of different types of VCs have a significant...

Persistent link: https://www.econbiz.de/10010297354

The Power Law and Dividend Yields

Lüders, Erik; Lüders-Amann, Inge; Schröder, Michael - 2004

Recent research suggests that the power law is one of the most universal laws in nature and it also seems to work quite fine in economics and finance. In this paper we show that the power law explains extremely well the relationship between the value of broad-based market indices and their...

Persistent link: https://www.econbiz.de/10010297376

GPD-linked Bonds as a Financing Tool for Developing Countries and Emerging Markets

Schröder, Michael; Heinemann, Friedrich; Kruse, Susanne; … - 2004

The paper examines the applicability of GDP-linked bonds for the financing of developing countries and emerging markets. GDP-linked bonds are bonds of which the coupon and/or redemption payments are tied to the GDP of the issuing country. The study encompasses a detailed empirical analysis of...

Persistent link: https://www.econbiz.de/10010297388