| 书目名称 | The Predictabilty of German Stock Returns | | 编辑 | Judith Klähn | | 视频video | | | 丛书名称 | Empirische Finanzmarktforschung/Empirical Finance | | 图书封面 |  | | 描述 | Ten years ago, most textbooks on financial management advocated the thesis that stock returns are essentially unpredictable. This theory is called the Random Walk Approach to the development of asset prices. The approach said that the stock market is subject to random changes, which are, by definition, unpredictable. Apparent predictabilities, if ever discovered, were either dismissed as statistical artifacts or as data that cannot be exploited after transaction costs. In the meantime, the world of financial economics has turned upside down. We now realize clearly that returns are indeed predictable to a large extent. Recent studies have confirmed that U.S. stock returns are highly predictable. In this new research context, Judith Klahn posed the question whether German stock returns follow the same pattern. The predictability of German stock returns is the topic of her thesis. She is in a position to identify the relevant variables in the German context. Her basic result is that the driving forces of the German stock market and the U.S. stock market differ in most aspects. According to the Handelsblatt, Judith Klahn‘s statement is: "Deutscher Aktienmarkt ist kaum mit der Wall Stre | | 出版日期 | Book 2000 | | 关键词 | Empirische Finanzmarktforschung; Finanzmarkt; German stock market; Germany; market research; statistical | | 版次 | 1 | | doi | https://doi.org/10.1007/978-3-322-81378-7 | | isbn_softcover | 978-3-8244-7102-7 | | isbn_ebook | 978-3-322-81378-7Series ISSN 2945-8218 Series E-ISSN 2945-8226 | | issn_series | 2945-8218 | | copyright | Betriebswirtschaftlicher Verlag Dr. Th. Gabler GmbH, Wiesbaden, und Deutscher Universitäts-Verlag Gm |
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发表于 2025-3-21 17:44:21
