Wissenschaftliche LiteraturStock Markets

Daniel Hartmann

Stock Markets and Real-Time Macroeconomic Data

Schriftenreihe volkswirtschaftliche Forschungsergebnisse

It has been common practice in empirical studies to use revised macroeconomic data that are available to a researcher ex post for the analysis of historical time series. This practice, however, does not take into account that macroeconomic data are revised over time and that theses revisions can be substantial.…

Georg Bestelmeyer

Equity Markets and the Real Economy

Finanzmanagement

The author analyzes the influence of investors’ macroeconomic expectations on the U.S. equity market by focusing on three central issues: First, “Do investors’ equity risk premia expectations depend on overall business conditions? Hereby, the importance of economic conditions for doubtlessly one of the most…

Burcu Erdogan

Analyzing Convergence/Divergence in European Financial Markets

Schriftenreihe volkswirtschaftliche Forschungsergebnisse

The European Union implemented significant financial reforms in order to facilitate financial integration since the beginning of the 1980s. With the introduction of the euro, the process of integrating financial markets accelerated. All the restructuring efforts reflect an expectation of positive effects from a…

Niklas Lampenius

Decision Making in Financial Markets

Development and Validation of a Behavioral Model Utilizing a Multi-Agent-Multi-Period Stock Market Simulation

Finanzmanagement

This work extends the discussion on artificial markets research using a novel approach to model decision making in financial markets. The topic is motivated through a thorough overview on economic and behavioral decision making as well as a review of the stock market simulation literature. A decision making model…

Achim Friedrich Himmelmann

Innovation Economics: Capital Market Perception of Corporate Innovation Activities

Finanzmanagement

Innovationsaktivitäten von Unternehmen gewinnen in einer zunehmend wissensbasierten Ökonomie immer mehr an Bedeutung. Wettbewerbsvorteile und die Erschließung zukünftiger Erfolgspotentiale hängen entscheidend von der Innovationskraft der Unternehmen ab. [...]

Alexandra Niessen

The Price Impact of Macroeconomic News on Capital Markets

Finanzmanagement

The core question of this book is how macroeconomic information impacts asset prices. Macroeconomic announcements are important for asset prices, because they provide information on current and future economic conditions. They are widely discussed by investors and extensively covered by the public press.…

Jürgen Huber

Wahlbörsen: Preisbildung auf politischen Märkten zur Vorhersage von Wahlergebnissen

POLITICA – Schriftenreihe zur politischen Wissenschaft

Anläßlich der US-Präsidentschaftswahl 1988 wurde an der University of Iowa die erste Wahlbörse veranstaltet und überraschte Veranstalter, Teilnehmer und Kommentatoren mit einer Prognose, die zehn mal exakter war als die besten Umfragen.

Bei der nächsten Wahl 1992 wurde wieder ein Markt veranstaltet, wobei…