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Value Investing und Effizienzmarkthypothese

Value Investing und Effizienzmarkthypothese


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About the Book

Bachelorarbeit aus dem Jahr 2015 im Fachbereich VWL - Finanzwissenschaft, Note: 1,0, Universität Hohenheim (Lehrstuhl für Bankwirtschaft und Finanzdienstleistungen), Sprache: Deutsch, Abstract: Im weiteren Verlauf meiner Arbeit möchte ich die unterschiedlichen Auffassungen bezüglich des Value-Premiums genauer beleuchten und gegeneinander abwägen. Folgende Ausgangsfragen sollen hierbei den Gegenstand meiner Arbeit genauer eingrenzen und präzisie-ren: Wie kann das Value-Premium empirisch nachgewiesen werden? Welche Erklärungsansätze bestehen für den Erfolg von Value Strategien? Wieso existiert das Value-Premium bis zum heutigen Tag? Warum erschwert die Joint-Hypothesen Problematik die Debatte? Besteht zwischen Value Investing und EMH ein Paradoxon? Bevor ich auf diese Punkte eingehe, werde ich in Abschnitt 2.1 die Grundlagen der Effizienzmarkthypothese darlegen. Da hierzu die Literatur überaus mannigfaltig ist, möchte ich mich auf die wichtigsten Aspekte beschränken, ohne jedoch dem Leser die Möglichkeit zu nehmen, einen guten Überblick über die EMH und ihre Implikationen zu bekommen. Ferner werde ich unter 2.2 die empirische Evidenz darstellen, die dazu geführt hat, dass die EMH bis zum heutigen Tage zu den Grundlagen der Finanztheorie gehört. Daraufhin folgt eine kritische Diskussion der EMH. Daran anschließend werden erweiterte und alternative Konzepte der EMH aufgezeigt. Im dritten Abschnitt werde ich die theoretischen Grundlagen des Value Investings vorstellen, sowie Erklärungsansätze für ein Value-Premium am Aktienmarkt geben. Die Joint-Hypothesen Problematik und ihre Implikationen für das Value-Premium folgen. Abschnitt 4 erörtert das Grossmann-Stieglitz-Modells und seine Bedeutung für die Effizienz der Märkte. Abgeschlossen wird die Arbeit mit einer Schlussbetrachtung.


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Product Details
  • ISBN-13: 9783668075214
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 3 mm
  • Weight: 132 gr
  • ISBN-10: 3668075212
  • Publisher Date: 29 Oct 2015
  • Height: 210 mm
  • No of Pages: 52
  • Series Title: German
  • Sub Title: Ein Paradoxon? Erklärungsansätze zweier Finanztheorien
  • Width: 148 mm


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