Traditionell haben Finanz-Ökonomen Anlageentscheidungen im sogenannten "Mean-Variance-FrameworkX" von Markowitz (1952) evaluiert. Experimente haben jedoch gezeigt, dass die "Prospect Theory" von Kahneman und Tversky (1979) eine bessere Beschreibung der Entscheidungen von Anlegern unter...

This thesis consists of three essays on the interaction of investor clienteles and mutual fund behavior. The first essay (Cici, Kempf, and Sorhage 2015, Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flowsʺ) adds to the literature on fund...

IP needs to be considered as key factor in order to create value across industries, even though it correlates with many challenges. Nonetheless, IP as asset can be interconnected with the financial markets. Therefore, intermediaries, such as investment funds are necessary. Since Luxembourg is...

Pressure from institutional money managers to generate profits in the short run is often blamed for corporate myopia. Theoretical research suggests that money managers' short term focus stems from their career concerns and greater fund transparency can amplify these concerns. Using a...