We investigate the performance of a sample of German mutual equity funds overthe period from 1994 to 2003. Our general finding is that mutual funds, on average,hardly produce excess returns relative to their benchmark that are large enough tocover their expenses. This conclusion is drawn from a...

This paper addresses the personal linkages between the public administration and the legislaturethat emerge because public servants pursue a political mandate. There are concernsthat the strong representation of bureaucrats in many Western parliaments compromises theconstitutionally proposed...

Auch wenn die grundsätzliche Idee von Hedge Funds schon mehr als ein halbes Jahrhundertbesteht, so hat diese Anlageform doch erst in den letzten Jahren an Bedeutunggewonnen, und zwar sowohl in der Praxis als auch in der der akademischen Forschung.Dabei sind Hedge Funds in die größere Klasse...

This paper addresses the personal linkages between the public service and the legislaturethat emerge because public servants pursue a political mandate. There are concerns thatthe strong representation of public servants in many Western parliaments compromises theconstitutionally proposed...