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Value-Effekte am deutschen Aktienmarkt

Value-Effekte am deutschen Aktienmarkt


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About the Book

In der empirischen Kapitalmarktforschung konnte der Value-Effekt in den Neunzigerjahren von Fama und French zum ersten Mal nachgewiesen werden. Der Value-Effekt stellt eine Anomalie dar, die nicht mit der Theorie effizienter Kapitalmärkte und dem Kapitalmarktmodell CAPM vereinbar ist. Bis heute wurden jedoch zahlreiche Studien durchgeführt die international verschiedene Value-Effekte untersuchten und risikoadjustierte Überrenditen nachweisen konnten. Die genauen Ursachen für diesen Effekt sind sehr vielfältig. Die Behavioral Finance scheint jedoch plausible verhaltenstheoretische Erklärungsansätze für die Value-Anomalien liefern zu können. Dieses Buch behandelt die empirische Untersuchung des deutschen Aktienmarktes von 1991 bis 2012 in Bezug auf den Value-Effekt. So konnten für einfache Value-Strategien risikoadjustierte Überrenditen im Vergleich zu Growth-Strategien und dem Gesamtmarkt nachgewiesen werden. Im Sinne der Columbia University von New York und Warren Buffett sind wertorientierte Aspekte genau so wichtig für eine erfolgreiche Value-Strategie wie wachstumsorientierte Aspekte. Daher untersucht diese Studie ebenfalls die Kombination aus einfachen Value-Kennzahlen und dem historischen Gewinnwachstum.
About the Author: Lasse Erdweg wurde 1990 in Erkelenz geboren. Sein Banking & Finance Studium an der University of Applied Sciences Cologne schloss der Autor im Jahr 2014 mit dem akademischen Grad Bachelor of Science erfolgreich ab. Bereits während des Studiums sammelte der Autor umfassende praktische Erfahrungen in der Finanzbranche. Fasziniert und schockiert von der Art und Weise wie heute die Kapitalmärkte und die Geldanlage funktionieren, begann er diese zu analysieren und zu untersuchen. Seine Erkenntnisse und Erfahrungen motivierten ihn, sich der Thematik des vorliegenden Buches zu widmen.


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Product Details
  • ISBN-13: 9783842872691
  • Publisher: Diplomica Verlag Gmbh
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 5 mm
  • Weight: 177 gr
  • ISBN-10: 3842872690
  • Publisher Date: 19 Jun 2014
  • Height: 210 mm
  • No of Pages: 98
  • Series Title: German
  • Sub Title: Wie lassen sich langfristig Werte schaffen?
  • Width: 148 mm


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