TY - JOUR A1 - Schmitz, Philipp A1 - Weber, Martin T1 - Buying and selling behavior of individual investors in option-like securities JF - Die Betriebswirtschaft : DBW N2 - We analyze the trading behavior of individual investors in option-like securities, namely bankissued warrants, and thus expand the growing literature of investors behavior to a new kind of securities. A unique data set from a large German discount broker gives us the opportunity to analyze the trading behavior of 1,454 investors, making 89,958 transactions in 6,724 warrants on 397 underlyings. In different logit regression, we make use of the facts that investors can speculate on rising and falling prices of the underlying with call and put warrants and that we also have information about the stock portfolios of the investors. We report several facts about the trading behavior of individual investors in warrants that are consistent with the literature on the behavior of individual investors in the stock market. The warrant investors buy calls and sell puts if the price of the underlying has decreased over the past trading days and they sell calls and buy puts if the price of the underlying has increased. That means, the investors follow negative feedback trading strategies in all four trading categories observed. In addition, we find strong evidence for the disposition effect for call as well as put warrants, which is reversed in December. The trading behavior is also influenced if the underlying reaches some exceptionally prices, e.g. highs, lows or the strike price. We show that hedging, as one natural candidate to buy puts, does not play an important role in the market for bank-issued warrants. KW - Bank-issued Warrants KW - Disposition Effect KW - Negative Feedback Trading KW - Trading Behavior KW - Individual Investors Y1 - 2012 U6 - https://doi.org/10.2139/ssrn.2055088 SN - 0342-7064 VL - 72 IS - 5 SP - 409 EP - 426 PB - Schäffer-Poeschel CY - Stuttgart ER - TY - JOUR A1 - Vieira da Silva, Maria Eugenia A1 - Schwarzer, Klemens A1 - Hoffschmidt, Bernhard A1 - Pinheiro Rodrigues, Frederico A1 - Schwarzer, Tarik A1 - Costa Rocha, Paulo Alexandre T1 - Mass transfer correlation for evaporation–condensation thermal process in the range of 70 °C–95 °C JF - Renewable energy Y1 - 2013 SN - 1879-0682 (E-Journal); 0960-1481 (Print) VL - Vol. 53 SP - 174 EP - 179 PB - Elsevier CY - Amsterdam ER - TY - JOUR A1 - Pohl, Martina A1 - Siegert, Petra A1 - Mesch, K. A1 - Bruhn, H. A1 - Grötzinger, Joachim T1 - Active site mutants of pyruvate decarboxylase from Zymomonas mobilis : a site-directed mutagenesis study of L112, I472, I476, E473 and N482 JF - European journal of biochemistry Y1 - 1998 SN - 1432-1033 (E-Journal); 1742-4658 (E-Journal); 0014-2956 (Print); 1742-464X (Print) VL - Vol. 257 IS - Iss. 3 SP - 538 EP - 546 ER - TY - JOUR A1 - Iding, Hans A1 - Siegert, Petra A1 - Mesch, K. A1 - Pohl, Martina T1 - Application of α-keto acid decarboxylases in biotransformations JF - Biochimica et biophysica acta (BBA) - Protein structure and molecular enzymology Y1 - 1998 SN - 1879-2588 (E-Journal); 0167-4838 (Print) VL - Vol. 1385 IS - Iss. 2 SP - 307 EP - 322 ER - TY - JOUR A1 - Iding, Hans A1 - Dünnwald, Thomas A1 - Greiner, Lasse A1 - Liese, Andreas A1 - Müller, Michael A1 - Siegert, Petra A1 - Grötzinger, Joachim A1 - Demir, Ayhan S. A1 - Pohl, Martina T1 - Benzoylformate Decarboxylase from Pseudomonas putida as Stable Catalyst for the Synthesis of Chiral 2-Hydroxy Ketones JF - Chemistry - a European journal Y1 - 2000 SN - 1521-3765 (E-Journal); 0947-6539 (Print) VL - Vol. 6 IS - Iss. 8 SP - 1483 EP - 1495 ER - TY - JOUR A1 - Dünnwald, Thomas A1 - Demir, Ayhan S. A1 - Siegert, Petra A1 - Pohl, Martina A1 - Müller, Michael T1 - Enantioselective Synthesis of (S)-2-Hydroxypropanone Derivatives by Benzoylformate Decarboxylase Catalyzed C−C Bond Formation JF - European journal of organic chemistry Y1 - 2000 SN - 0365-5490 (E-Journal); 1099-0690 (E-Journal); 0075-4617 (Print); 0170-2041 (Print); 0947-3440 (Print); 1434-193X (Print); 1434-243X (Print) VL - Vol. 2000 IS - Iss. 11 SP - 2161 EP - 2170 ER - TY - JOUR A1 - Dünnwald, Thomas A1 - Demir, Ayhan S. A1 - Siegert, Petra A1 - Pohl, Martina A1 - Müller, Michael T1 - ChemInform Abstract: Enantioselective synthesis of (S)-2-Hydroxypropanone derivatives by Benzoylformate Decarboxylase Catalyzed C—C Bond Formation JF - Cheminform Y1 - 2001 SN - 1522-2667 (E-Journal); 0931-7597 (Print) VL - Vol. 32 IS - Iss. 4 SP - Publ. online ER - TY - JOUR A1 - Dünkelmann, Pascal A1 - Kolter-Jung, Doris A1 - Nitsche, Adam A1 - Demir, Ayhan S. A1 - Siegert, Petra A1 - Lingen, Bettina A1 - Baumann, Martin A1 - Pohl, Martina A1 - Müller, Michael T1 - Development of a donor-acceptor concept for enzymatic cross-coupling reactions of adehydes : the first asymmetric cross-benzoin condensation JF - Journal of the American Chemical Society Y1 - 2002 SN - 1520-5126 (E-Journal); 0002-7863 (Print) VL - Vol. 124 SP - 12084 EP - 12085 ER - TY - JOUR A1 - Siegert, Petra A1 - McLeish, Michael J. A1 - Baumann, Martin A1 - Iding, Hans A1 - Kneen, Malea M. A1 - Kenyon, George L. A1 - Pohl, Martina T1 - Exchanging the substrate specificities of pyruvate decarboxylase from Zymomonas mobilis and benzoylformate decarboxylase from Pseudomonas putida JF - Protein engineering, design, and selection : peds Y1 - 2005 SN - 1460-213X (E-Journal); 1741-0134 (E-Journal); 0269-2139 (Print); 1741-0126 (Print) VL - Vol. 18 IS - Iss. 7 SP - 345 EP - 357 ER - TY - JOUR A1 - Ribitsch, D. A1 - Karl, W. A1 - Birner-Gruenberger, R. A1 - Gruber, K. A1 - Eiteljoerg, I. A1 - Remler, P. A1 - Wieland, S. A1 - Siegert, Petra A1 - Maurer, Karl-Heinz A1 - Schwab, H. T1 - C-terminal truncation of a metagenome-derived detergent protease for effective expression in E. coli JF - Journal of biotechnology N2 - Recently, a new alkaline protease named HP70 showing highest homology to extracellular serine proteases of Stenotrophomonas maltophilia and Xanthomonas campestris was found in the course of a metagenome screening for detergent proteases (Niehaus et al., submitted for publication). Attempts to efficiently express the enzyme in common expression hosts had failed. This study reports on the realization of overexpression in Escherichia coli after structural modification of HP70. Modelling of HP70 resulted in a two-domain structure, comprising the catalytic domain and a C-terminal domain which includes about 100 amino acids. On the basis of the modelled structure the enzyme was truncated by deletion of most of the C-terminal domain yielding HP70-C477. This structural modification allowed effective expression of active enzyme using E. coli BL21-Gold as the host. Specific activity of HP70-C477 determined with suc-l-Ala-l-Ala-l-Pro-l-Phe-p-nitroanilide as the substrate was 30 ± 5 U/mg compared to 8 ± 1 U/mg of the native enzyme. HP70-C477 was most active at 40 °C and pH 7–11; these conditions are prerequisite for a potential application as detergent enzyme. Determination of kinetic parameters at 40 °C and pH = 9.5 resulted in KM = 0.23 ± 0.01 mM and kcat = 167.5 ± 3.6 s⁻¹. MS-analysis of peptide fragments obtained from incubation of HP70 and HP70-C477 with insulin B indicated that the C-terminal domain influences the cleavage preferences of the enzyme. Washing experiments confirmed the high potential of HP70-C477 as detergent protease. Y1 - 2010 U6 - https://doi.org/10.1016/j.jbiotec.2010.09.947 SN - 1873-4863 (E-Journal); 0168-1656 (Print) VL - 150 IS - 3 SP - 408 EP - 416 PB - Elsevier CY - Amsterdam ER -