Die Wirkung Makro Konomischer Ver Ffentlichungen Auf Den Deutschen Aktienmarkt
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Die Wirkung Makro Konomischer Ver Ffentlichungen Auf Den Deutschen Aktienmarkt
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Author : Florian Pach
language : de
Publisher: diplom.de
Release Date : 2005-10-18
Die Wirkung Makro Konomischer Ver Ffentlichungen Auf Den Deutschen Aktienmarkt written by Florian Pach and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-18 with Business & Economics categories.
Inhaltsangabe:Einleitung: Ziel dieser Arbeit ist es, den Einfluss der Veröffentlichung makroökonomischer Variablen auf den deutschen Aktienmarkt zu untersuchen. Makroökonomische Größen wie Leitzins, Devisenkurs, Ölpreis oder Konjunkturlage bilden einen Bestandteil der globalen Umwelt von Unternehmen und Märkten. Finanzmarktteilnehmer bilden auf Basis des Zustandes dieser wirtschaftlichen Rahmenbedingungen Erwartungen an die zukünftige Entwicklung der Wirtschaft und treffen ihre Investitionsentscheidungen. Der Finanzmarkt bildet diese Erwartungen ab und reagiert folglich mit Kursbewegungen auf Veränderungen des Investitionsumfeldes. Die Theorie der informationseffizienten Märkte unterstellt, dass die Marktpreise in jedem Augenblick alle relevanten und verfügbaren Informationen vollständig widerspiegeln. Dies bedeutet, dass der Markt bei gleichem Informationsstand jeden Individuums die neuen Gleichgewichtskurse ohne zeitliche Verzögerung realisiert. Daher existiert gemäß dieser Theorie keine Anlagestrategie zur Erwirtschaftung systematischer Überrenditen. Zahlreiche wissenschaftliche Studien untersuchen die Informationseffizienz internationaler Kapitalmärkte mit dem Ziel, eine Aussage über die Existenz eines funktionierenden Kapitalmarktes treffen zu können. Dieser besitzt die gesamtwirtschaftliche Aufgabe, die Kapitalströme zum Ort der besten Verwendung zu lenken. Marktpreise werden hierbei als Signal optimaler Kapitalallokation interpretiert. Daher kann der Markt seine Lenkungsfunktion nur erfüllen, wenn den Marktteilnehmern Preise zur Verfügung stehen, die dem wahren fundamentalen Wert entsprechen. Fehlallokationen können demgemäss nur ausgeschlossen werden, wenn die Marktpreise Informationen gemäß der Effizienztheorie enthalten. Mit Hilfe einer Ereignisstudie soll nun auf Tagesdatenbasis untersucht werden, ob bei Ankündigung neuer Informationen systematische Überrenditen erzielt werden können. Auf Ebene unternehmensspezifischer Ereignisse existieren bereits zahlreiche Untersuchungen, welche Informationsineffizienzen beispielsweise bei Dividendenankündigungen oder Änderungen der Indexzugehörigkeit aufgedeckt haben. Gang der Untersuchung: Diese Arbeit widmet sich der Analyse makroökonomischer Ereignisse. Die halbstrenge Informationseffizienz des deutschen Aktienmarktes soll bei Bekanntgabe des Ifo-Geschäftsklimaindex, des ZEW-Konjunkturindikators, des Consumer Confidence Index sowie bei Zinsentscheidungen der amerikanischen und europäischen [...]
Deutsche Nationalbibliographie Und Bibliographie Der Im Ausland Erschienenen Deutschsprachigen Ver Ffentlichungen
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Author :
language : de
Publisher:
Release Date : 2001-02
Deutsche Nationalbibliographie Und Bibliographie Der Im Ausland Erschienenen Deutschsprachigen Ver Ffentlichungen written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-02 with Dissertations, Academic categories.
The Theory Of Social Democracy
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Author : Thomas Meyer
language : en
Publisher: John Wiley & Sons
Release Date : 2013-09-30
The Theory Of Social Democracy written by Thomas Meyer and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-30 with Political Science categories.
The ascendancy of neo-liberalism in different parts of the world has put social democracy on the defensive. Its adherents lack a clear rationale for their policies. Yet a justification for social democracy is implicit in the United Nations Covenants on Human Rights, ratified by most of the worlds countries. The covenants commit all nations to guarantee that their citizens shall enjoy the traditional formal rights; but they likewise pledge governments to make those rights meaningful in the real world by providing social security and cultural recognition to every person. This new book provides a systematic defence of social democracy for our contemporary global age. The authors argue that the claims to legitimation implicit in democratic theory can be honored only by social democracy; libertarian democracies are defective in failing to protect their citizens adequately against social, economic, and environmental risks that only collective action can obviate. Ultimately, social democracy provides both a fairer and more stable social order. But can social democracy survive in a world characterized by pervasive processes of globalization? This book asserts that globalization need not undermine social democracy if it is harnessed by international associations and leavened by principles of cultural respect, toleration, and enlightenment. The structures of social democracy must, in short, be adapted to the exigencies of globalization, as has already occurred in countries with the most successful social-democratic practices.
The Price Of Capital Goods A Driver Of Investment Under Threat
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Author : Weicheng Lian
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-28
The Price Of Capital Goods A Driver Of Investment Under Threat written by Weicheng Lian and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-28 with Business & Economics categories.
Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show that the decline in the relative price of tangible tradable capital goods provided a significant impetus to the capital deepening that took place during the same time period. The broad-based decline in the relative price of machinery and equipment, in turn, was driven by the faster productivity growth in the capital goods producing sectors relative to the rest of the economy, and deeper trade integration, which induced domestic producers to lower prices and increase their efficiency. Our findings suggest an additional channel through which rising trade tensions and sluggish productivity could threaten real investment growth going forward.
Foundations Of Social Democracy
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Author : Tobias Gombert
language : en
Publisher:
Release Date : 2017
Foundations Of Social Democracy written by Tobias Gombert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Debtor Nation
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Author : Louis Hyman
language : en
Publisher: Princeton University Press
Release Date : 2011-01-03
Debtor Nation written by Louis Hyman and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-03 with History categories.
The story of personal debt in modern America Before the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the history of personal debt in modern America, Debtor Nation traces the evolution of debt over the course of the twentieth century, following its transformation from fringe to mainstream—thanks to federal policy, financial innovation, and retail competition. How did banks begin making personal loans to consumers during the Great Depression? Why did the government invent mortgage-backed securities? Why was all consumer credit, not just mortgages, tax deductible until 1986? Who invented the credit card? Examining the intersection of government and business in everyday life, Louis Hyman takes the reader behind the scenes of the institutions that made modern lending possible: the halls of Congress, the boardrooms of multinationals, and the back rooms of loan sharks. America's newfound indebtedness resulted not from a culture in decline, but from changes in the larger structure of American capitalism that were created, in part, by the choices of the powerful—choices that made lending money to facilitate consumption more profitable than lending to invest in expanded production. From the origins of car financing to the creation of subprime lending, Debtor Nation presents a nuanced history of consumer credit practices in the United States and shows how little loans became big business.
Homo Oeconomicus
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Author : Gebhard Kirchgässner
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-06-13
Homo Oeconomicus written by Gebhard Kirchgässner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-13 with Business & Economics categories.
The economic model of behaviour is fundamental not only in economic theory, but also in modern approaches of other social sciences, above all in political science and law. This book provides a comprehensive treatise of the general model, its philosophical and methodological foundations and its applications in different fields. In addition to the basic model, extensions to its assumptions are examined to account for complex applications like low-cost situations with moral behaviour.
Innocent Landscapes
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Author : David Farrell
language : en
Publisher: Dewi Lewis Publishing
Release Date : 2001
Innocent Landscapes written by David Farrell and has been published by Dewi Lewis Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Burial categories.
Winner of the 2001 European Publishers Award for Photography An extraordinary collection of photographs of six locations in the south of Ireland, known as the 'Sites of the Disappeared' which are the burial places of eight people murdered by the IRA in the 1970s and early 1980s. In thirty years of conflict and atrocities, this small group of people stood apart. They were all Catholic and, as it turned out, had not only been taken from their families but also from their homeland to be buried in the South. Illustrated with 65 full colour photographs
Social Systems
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Author : Niklas Luhmann
language : en
Publisher: Stanford University Press
Release Date : 1995
Social Systems written by Niklas Luhmann and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Social Science categories.
Germany's most prominent social thinker here sets out a contribution to sociology that aims to rework our understanding of meaning and communication. He links social theory to recent theoretical developments in scientific disciplines.
Sustainability Report 2014
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Author :
language : en
Publisher:
Release Date : 2015
Sustainability Report 2014 written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Sustainability lies at the heart of everything the EIB Group does and shapes its activities and investment decisions. This report is a testament to the achievements of the best corporate responsibility standards followed by the EIB Group. As the EU Bank and GRI organizational stakeholder, the EIB Group follows the GRI G4 reporting guidelines. This report is prepared according to the GRI G4 guidelines at the comprehensive option.