In der vorliegenden Arbeit wird in vier Forschungsbeiträgen der Einfluss der Besteuerung auf Investitionsentscheidungen in Indexprodukte (Indexzertifikate, börsengehandelte Indexfonds) untersucht sowie eine Evaluierung der Auswirkungen des Gesetzes zur Reform der Investmentbesteuerung auf...

We use a unique dataset with bank clients’ security holdings for all German banks to examine how macroeconomic shocks affect asset allocation preferences of households and non-financial firms. Our analysis focuses on two alternative mechanisms which can influence portfolio choice: wealth...

We investigate financial intermediaries’ interest rate risk management as the simultaneous decision of on-balance-sheet exposure and interest rate swap use. Our findings show that both decisions are substitute risk management strategies. A higher likelihood of bank distress makes banks reduce...