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Kapitalmarktanomalien am deutschen Aktienmarkt

Kapitalmarktanomalien am deutschen Aktienmarkt


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About the Book

Bachelorarbeit aus dem Jahr 2016 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,3, Duale Hochschule Baden-Württemberg, Villingen-Schwenningen, früher: Berufsakademie Villingen-Schwenningen, Sprache: Deutsch, Abstract: Historisch betrachtet gibt es Börsenphasen, in denen die Strategie aufgeht und andere, in denen genau ein umgekehrtes Handeln sinnvoll gewesen wäre. So ist der DAX beispielsweise im Mai 2013 rund 6 % gestiegen und legte damit einen der besten Monate überhaupt hin. Das Gegenbeispiel zeigt jedoch bei einer Durchschnittsbetrachtung der DAX-Monate ab 1948, dass der Mai historisch gesehen mit -0,1 % der zweitschlechteste Monat überhaupt ist. Neben der auch als Halloween-Effekt bezeichneten Anomalie existieren weitere Anomalien oder Unregelmäßigkeiten. Untersuchungen in der Vergangenheit haben immer wieder einzelne Effekte nachgewiesen, wobei der Erfolg der Effekte häufig abhängig ist vom jeweiligen Land. Bisherige Untersuchungen haben den Fokus i. d. R. auf einzelne Effekte gelegt und reichen nicht stringent bis in die Gegenwart. Deshalb soll anhand der vorliegenden Arbeit die Frage beantwortet werden, wie sich ausgewählte Kalendereffekte in der neueren Börsengeschichte ab dem Jahr 2000 entwickelt haben. Ziel ist es, einen Überblick über die einzelnen Effekte sowie über den theoretischen Hintergrund und aktuelle Untersuchungen zu geben. Dabei liegt der Schwerpunkt der Untersuchung nicht nur auf der zeitlichen Entwicklung der Effekte, sondern auch auf der Betrachtung absolut erzielbarer Renditen in den einzelnen Jahren. Zudem wird eine Unterscheidung in die drei größten deutschen Indizes DAX, MDAX und SDAX vorgenommen, um mögliche Unterschiede in den Größenklassen herauszustellen. Der DAX gilt aufgrund der Zusammensetzung als der bekannteste deutsche Index, jedoch zeigen zahlreiche Untersuchungen, dass gerade auch kleinere Indizes aufgrund des Kleinfirmen-Effektes attraktive Renditen aufweisen können. Für die Betrachtung einer möglichen Handels


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Product Details
  • ISBN-13: 9783668442009
  • Publisher: Grin Verlag
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Sub Title: Untersuchung der empirischen Persistenz ausgewählter Effekte anhand von Größenkriterien
  • Width: 148 mm
  • ISBN-10: 3668442002
  • Publisher Date: 31 May 2017
  • Height: 210 mm
  • No of Pages: 108
  • Spine Width: 7 mm
  • Weight: 199 gr


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