TY - JOUR A1 - Schmitz, Philipp A1 - Weber, Martin T1 - Buying and selling behavior of individual investors in option-like securities Y1 - 2007 SP - 1 EP - 36 ER - 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 - Goedhuys, Micheline A1 - Janz, Norbert A1 - Mohnen, Pierre T1 - Knowledge-based productivity in “low-tech” industries: evidence from firms in developing countries JF - Industrial and corporate change N2 - Using firm-level data from five developing countries—Brazil, Ecuador, South Africa, Tanzania, and Bangladesh—and three industries—food processing, textiles, and the garments and leather products—this article examines the importance of various sources of knowledge for explaining productivity and formally tests whether sector- or country-specific characteristics dominate these relationships. Knowledge sources driving productivity appear mainly sector specific. Also differences in the level of development affect the effectiveness of knowledge sources. In the food processing sector, firms with higher educated managers are more productive, and in least-developed countries, additionally those with technology licenses and imported machinery and equipment. In the capital-intensive textiles sector, productivity is higher in firms that conduct R&D. In the garments and leather products sector, higher education of the managers, licensing, and R&D raise productivity. Y1 - 2014 U6 - https://doi.org/10.1093/icc/dtt006 SN - 1464-3650 (E-Journal); 0960-6491 (Print) VL - 23 IS - 1 SP - 1 EP - 23 PB - Oxford University Press CY - Oxford ER - TY - JOUR A1 - Lindemann, Markus A1 - Runge, Alexander T1 - Permanent IT-support in electronic commerce transactions JF - Electronic markets : the international journal of networked business. Vol. 7 (1997), iss. 1 Y1 - 1997 SN - 1422-8890 SP - 18 EP - 20 ER - TY - JOUR A1 - Lindemann, Markus A1 - Schmid, Beat F. T1 - Framework for specifying, building and operating electronic markets JF - International journal of electronic commerce. Vol. 3 (1998/99), No. 2 Y1 - 1999 SN - 1086-4415 SP - 7 EP - 21 ER - TY - JOUR A1 - Palmer, J. W. A1 - Lindemann, Markus T1 - Business models and market mechanisms : evaluating efficiency in consumer electronic markets JF - Data base and advanced information systems. Bd. 34 (2003), H. 2 Y1 - 2003 SN - 0105-9912 SP - 23 EP - 38 ER - TY - JOUR A1 - Weigand, Christoph T1 - Statistical Tests Based on Reliability and Precision JF - Economic Quality Control : EQC ; international journal for quality and reliability N2 - The construction of a statistical test is investigated which is based only on “reliability” and “precision” as quality criteria. The reliability of a statistical test is quantifiedin a straightforward way by the probability that the decision of the test is correct. However, the quantification of the precision of a statistical test is not at all evident. Thereforethe paper presents and discusses several approaches. Moreover the distinction of “nullhypothesis” and “alternative hypothesis” is not necessary any longer. Y1 - 2012 U6 - https://doi.org/10.1515/eqc-2012-0002 SN - 1869-6147 VL - 27 IS - 1 SP - 43 EP - 64 PB - De Gruyter CY - Berlin ER - TY - JOUR A1 - Fredebeul-Krein, Markus A1 - Knoben, Werner T1 - Long term risk sharing contracts as an approach to establish public–private partnerships for investment into next generation access networks JF - Telecommunications Policy Y1 - 2010 SN - 0308-5961 VL - 34 IS - 9 SP - 528 EP - 539 ER - TY - JOUR A1 - Fredebeul-Krein, Markus A1 - Steingröver, Markus T1 - Next Generation Access Networks: Why is there a higher risk of investment and how to deal with it? JF - Wettbewerbsprobleme im Internet / Jörn Kruse ... (Hrsg.). Mit Beitr. von: Patrick F. E. Beschorner ... Y1 - 2009 SN - 978-3-8329-5024-8 N1 - Hamburger Forum Medienökonomie ; 9 SP - 83 EP - 102 PB - Nomos, Ed. Fischer CY - Baden-Baden ER - TY - JOUR A1 - Weigand, Christoph T1 - Defining Precisions for Reliable Measurement and Estimation Procedures JF - Economic Quality Control. 24 (2009), H. 1 Y1 - 2009 SN - 0940-5151 SP - 5 EP - 33 PB - De Gruyter CY - Berlin ER - TY - JOUR A1 - Mischke, Winfried T1 - Kurzkommentierung der §§ 433, 436, 446 - 453, 474 - 479 BGB JF - LexisNexis : Elektronische Ressource / Recht (2009) Y1 - 2009 ER - TY - JOUR A1 - Mischke, Winfried T1 - Die Garantie im Kaufrecht JF - Betriebs-Berater. 50 (1995), H. 22 Y1 - 1995 SN - 0340-7918 SP - 1093 EP - 1096 ER - TY - JOUR A1 - Pietsch, Wolfram T1 - IT Service Deployment JF - QFD : transactions from International Symposium on QFD 2007 - Williamsburg, the Nineteenth Symposium on Quality Function Deployment ; September 7 - 8, 2007, Williamsburg, VA ; [companion document to the Thirteenth International and Nineteenth North American Symposium on Quality Function Deployment (ISQFD'07)] / [organized and hosted by the QFD Institute] Y1 - 2007 SN - 1-889477-19-2 N1 - QFD 2007, 19th Symposium on Quality Function Deployment, Williamsburg, VA, US, Sep 7-8, 2007 SP - 203 EP - 212 PB - QFD Inst. CY - Ann Arbor, Mich. ER - TY - JOUR A1 - Grap, Rolf Dietmar T1 - If you think, education is expensive, try incompetence JF - Beschaffung aktuell (2007) Y1 - 2007 SN - 0341-4507 N1 - freier Zugang nach Registrierung SP - 62 EP - 63 ER - TY - JOUR A1 - Janz, Norbert A1 - Goedhuys, Micheline A1 - Mairesse, Jacques A1 - Mohnen, Pierre T1 - Micro-evidence on innovation and development (MEIDE): an introduction / Goedhuys, Micheline ; Janz, Norbert ; Mairesse, Jacques ; Mohnen, Pierre JF - The European Journal of Development Research. 20 (2008), H. 2 Y1 - 2008 SN - 1743-9728 SP - 167 EP - 171 ER - TY - JOUR A1 - Janz, Norbert A1 - Goedhuys, Micheline A1 - Mohnen, Pierre T1 - What drives productivity in Tanzanian manufacturing firms: technology or business environment? / Goedhuys, Micheline ; Janz, Norbert ; Mohnen, Pierre JF - The European Journal of Development Research. 20 (2008), H. 2 Y1 - 2008 SN - 1743-9728 SP - 199 EP - 218 ER - TY - JOUR A1 - Fredebeul-Krein, Markus T1 - Adopting a coherent institutional framework for the Ukrainian telecom sector: Lessons to be learnt from European and German experience JF - Zerkalo Nedeli (2003) Y1 - 2003 N1 - (Ukrainian Journal) ER - TY - JOUR A1 - Fredebeul-Krein, Markus T1 - Regulating Prices of Unbundled Access to the Local Loop: A German Case Study JF - Telekomunikacja i techniki informacyjne (2002) Y1 - 2002 SN - 1640-1549 N1 - Telecommunications and Information Technologies SP - 10 EP - 18 ER - TY - JOUR A1 - Pietsch, Wolfram T1 - Customer-Oriented Specification and Evaluation of IT Service Level Agreements JF - Software process improvement : Elektronische Ressource : 12th European conference ; proceedings / EuroSPI 2005, Budapest, Hungary, November 9 - 11, 2005. Ita Richardson ... (ed.) Y1 - 2005 SN - 3-540-30286-7 N1 - Lecture notes in computer science ; 3792 ; EuroSPI <12, 2005, Budapest> SP - 83 EP - 94 PB - Springer CY - Berlin [u.a.] ER - TY - JOUR A1 - Fredebeul-Krein, Markus A1 - Vogel, Erika T1 - Underground Storage Facilities in the German natural gas market: A need for access regulation to ensure competition? JF - Zeitschrift für Energiewirtschaft. 30 (2006), H. 4 Y1 - 2006 SN - 0343-5377 SP - 257 EP - 270 ER -