kapitalmarkttheoretische Konzept des rationalen Investors
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kapitalmarkttheoretische Konzept des rationalen Investors

kapitalmarkttheoretische Konzept des rationalen Investors


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About the Book

Inhaltsangabe: Einleitung: Das Geschehen an den Aktienmärkten während der vergangenen Jahre war von in diesen Dimensionen bislang ungeahnten Turbulenzen geprägt: Auf eine Phase der Euphorie mit enormen Kurssteigerungen, die fast allen Börsen weltweit neue Rekordstände bescherten, folgte eine mittlerweile drei Jahre andauernde Depression, in deren Verlauf die Marktkapitalisierung der einstigen Börsenstars aus der New Economy ebenso auf einen Bruchteil der früheren Höhe zusammenschrumpfte wie auch der Wert von vermeintlich absolut krisensicheren Qualitätsaktien. Weder das Kursfeuerwerk in der letzten Zeit vor der Jahrtausendwende, das der US-Notenbankchef Alan Greenspan bereits 1996 als „irrational exuberance" bezeichnet hatte, noch die gigantische Wertvernichtung, die anschließend einsetzte, wurden in dieser Intensität von Börsenexperten auch nur annähernd vorhergesehen. Im Rahmen von retrospektiven Analysen wird in aller Regel auf nicht näher spezifizierte „psychologische Faktoren" verwiesen, die für die eingetretenen Entwicklungen ursächlich gewesen seien. Vor diesem Hintergrund ist es Zielsetzung der vorliegenden Arbeit, einen Überblick über wissenschaftliche Ansätze zu vermitteln, die psychologische Erkenntnisse in die ökonomische Analyse des Börsengeschehens zu integrieren versuchen. Als Einstieg in die Thematik werden im 2. Kapitel die Grundlagen der Kapitalmarkttheorie dargestellt, die quantitative Modelle zur Preisbildung an der Börse und zur optimalen Strukturierung von Wertpapieranlagen umfasst. In Verbindung mit den Grundsätzen der Entscheidungstheorie, die eine formale Analyse menschlichen Entscheidungsverhaltens ermöglichen, lässt sich hieraus das Idealbild eines rational agierenden Investors ableiten, wie es in theoretischen Kapitalmarktmodellen vorausgesetzt wird. Als Gegenentwurf zu den Schlussfolgerungen der Kapitalmarkttheorie versucht der empirisch ausgerichtete Forschungsansatz der Behavioral Finance, das reale Börsengeschehen unter der Prämis


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Product Details
  • ISBN-13: 9783838689494
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 8 mm
  • Weight: 245 gr
  • ISBN-10: 3838689496
  • Publisher Date: 14 Aug 2005
  • Height: 210 mm
  • No of Pages: 140
  • Series Title: German
  • Sub Title: Eine Kritik aus Sicht der Behavioral Finance
  • Width: 148 mm


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