Addressing recent calls by European regulatory and supervisory authorities, we develop a new bottom-up climate risk assessment method to examine the resilience of the European banking industry regarding transitory climate risks. We illustrate our approach by estimating the impact of a 50-100 EUR...

Using data from surveys as well as as real transactions we analyze which and why investors choose funds with performance fees even though these funds may be more expensive. According to agency theory, performance fees could incentivize managers to achieve better returns, but they could also...

Unter dem Besitztumseffekt wird die Tatsache verstanden, daß Entscheider Alternativen bezüglich eines Referenzpunktes beurteilen und dabei Verluste stärker gewichten als Gewinne. Diese unterschiedliche Beurteilung spiegelt sich auch in einer starken Diskrepanz zwischen Kauf- und Verkaufspreis...