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Kapitalmarktanomalien am Aktienmarkt. Erklärungsansätze und grundlegende Testmethoden

Kapitalmarktanomalien am Aktienmarkt. Erklärungsansätze und grundlegende Testmethoden


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About the Book

Studienarbeit aus dem Jahr 2020 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,3, Justus-Liebig-Universität Gießen, Sprache: Deutsch, Abstract: Das Ziel der vorliegenden Arbeit ist es, einen Überblick über die Arten der Kapitalmarktanomalien zu verschaffen, wie sie zustande kommen, gemessen und erklärt werden können. Außerdem soll gezeigt werden, wie sich die Anomalien auf die Portfolioperformance auswirken, ob man aus ihnen profitable Anlagestrategien ziehen kann und welche Konsequenzen dies für das Asset Management mit sich bringt. "As goes January, so goes the year". So lautet eine der bekanntesten Börsenweisheiten an den internationalen Finanzmärkten. Dieser Spruch hängt mit dem Januar-Effekt zusammen und bedeutet, dass Investoren im Januar eine höhere durchschnittliche Rendite erzielen können als in den restlichen Monaten eines Handelsjahres. Dem Januar wird aber auch noch eine zweite Bedeutung beigemessen. Der Januar hat eine Prognosefähigkeit für das restliche Börsenjahr. Somit deuten steigende (fallende) Aktienkurse im Januar daraufhin, dass die Aktienkurse in den übrigen Monaten ebenfalls steigen (fallen). Neben diesem Januar-Effekt, welcher auch als Kalenderanomalie bezeichnet wird, existieren noch weitere Anomalien unterschiedlichster Art. Diese Anomalien widersprechen der neoklassischen Kapitalmarkttheorie, da man durch diese Überrenditen erzielen und Aktienkurse prognostizieren kann. Sie treten auf, wenn sich viele Anleger am Markt gleichzeitig irrational verhalten. In der jungen Vergangenheit haben Marktanomalien immer mehr an Bedeutung gewonnen und sind somit auch ein großes Thema für das praktische Asset Management, da sich Investoren fragen, wie sie diese Anomalien zu ihrem Profit ausnutzen können.


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Product Details
  • ISBN-13: 9783346194312
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 40
  • Spine Width: 3 mm
  • Width: 148 mm
  • ISBN-10: 3346194310
  • Publisher Date: 01 Apr 2020
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 113 gr


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