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Die Jahresabschlussanalyse
(2009)
Die Konzernrechnungslegung
(2010)
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.
1. Die Wirksamkeitsvoraussetzungen der Verdachtskündigung gegenüber einem Arbeitnehmer - Jana Scheilen | Seite 4-66
2. Besteuerungsinkongruenzen im Internationalen Steuerrecht - die Umsetzung der ATAD II in Form des § 4k EStG in Bezug auf hybride Gesellschaften und Betriebsstätten
- Max Peiffer | Seite 67-126
3. Der Zuzug einer Gesellschaft aus einem Drittstaat nach Deutschland - Herausforderungen durch die modifizierte Sitztheorie und Lösungsmöglichkeiten
- Anna-Luisa Görlich | Seite 127-189
4. Escalation of Commitment und seine Einflussfaktoren in der unternehmerischen Entscheidungsfindung: Ein Szenario-Experiment
- Theresa Hacke | Seite 190-245
Die Aufrechnung des Insolvenzverwalters gegen eine Insolvenzforderung nach ihrer Feststellung
(2012)
Leveraging Social Network Data for Analytical CRM Strategies - The Introduction of Social BI.
(2012)
Erben und Steuerbelastung
(1995)
Knowledge Management
(2001)
Für die Erstellung von Maschinenbelegungsplanen wurden im Operations Research aufwendige Optimierungsverfahren konzipiert und entsprechende Programme entwickelt. Maschinenbelegungsprobleme sind klassische Vertreter der Klasse der np-vollständigen Probleme, also sichere Kandidaten für kombinatorische Explosion der Lösungsalternativen. Deshalb ist der Einsatz konventioneller Planungssysteme wegen der hohen Rechneranforderungen der gängigen Verfahren an die Hardware oft nicht praktikabel.
A Cooperative Work Environment for Evolutionary Software Development / Kurbel, K., Pietsch, W.
(1990)
Expertensystem-Projekte. Entwicklungsmethodik, Organisation und Management / Kurbel, K., Pietsch, W.
(1989)
A Portable Implementation of Index Sequential Input-Output [Part 1] / Kurbel, Karl; Pietsch, W.
(1986)
A Portable Implementation of Index Sequential Input-Output [Part 2] / Kurbel, Karl; Pietsch, W.
(1986)
Konzepte und Instrumente für Organisation und Management evolutionärer Softwareentwicklungsprojekte
(1989)
IT Service Level Agreements
(2004)
IT Service Deployment
(2007)
IT Products are viewed and managed differently depending on the perspectives and the stage within the life cycle. A model is presented that integrates different perspectives and stages serving as an aid for the analysis of business models and focused positioning of IT-products. Four generic business models are analysed with regard to the product management function in general and the positioning field for IT-products specifically: off-the-shelf (license), license plus service, project, and system service (incl. cloud computing).