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Erfüllen Finanzanalysten ihre Funktion als Informationsintermediär und stellen crowd-basierte Plattformen eine Alternative für Investoren dar?

Erfüllen Finanzanalysten ihre Funktion als Informationsintermediär und stellen crowd-basierte Plattformen eine Alternative für Investoren dar?

          
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About the Book

Masterarbeit aus dem Jahr 2018 im Fachbereich BWL - Rechnungswesen, Bilanzierung, Steuern, Note: 2,0, Universität Mannheim (Lehrstuhl für ABWL und Rechnungswesen), Sprache: Deutsch, Abstract: Finanzanalysten spielen eine wichtige Rolle als Informationsintermediär auf dem Kapitalmarkt, indem sie Informationen systematisieren, verarbeiten und anderen Kapitalmarktakteuren zur Verfügung stellen. Am Ende ihres Informationsverarbeitungsprozesses stehen sogenannte Research Reports, die unter anderem Ertragsprognosen und Aktienempfehlungen enthalten und die an ihre Kunden, wie beispielsweise institutionelle Investoren, verteilt werden. Eine kritische und unverzerrte Informationsverarbeitung dient potentiellen Investoren als wichtige Grundlage für ihre Anlageentscheidungen. Die Arbeit der Finanzanalysten unterliegt jedoch inhärenten Interessenkonflikten. Einerseits sollen sie im Dienste ihrer Kunden Unternehmen beurteilen und Empfehlungen abgeben. Andererseits müssen sie aber auch ein enges Verhältnis zum Management des beobachteten Unternehmens pflegen, um so an exklusive Informationen zu gelangen. Zudem dürfen sie in ihren Schätzungen und Empfehlungen auch den Interessen des eigenen Arbeitgebers nicht zuwiderlaufen. Diese Interessenkonflikte können zu Verzerrungen führen, die bereits in zahlreichen empirischen Studien nachgewiesen wurden. Resultierend aus den Problemen in Bezug auf die Prognoseverzerrungen der Finanzanalysten gründete der ehemalige Hedgefonds-Manager Leigh Drogen im Jahr 2011 die crowd-basierte Plattform Estimize.com, die es ihren Usern ermöglicht, Ertragsprognosen für Unternehmen abzugeben. In dieser Arbeit soll auf Basis dieser Behauptungen geprüft werden, ob Estimize gegenüber den Finanzanalysten eine echte Alternative als Informationsintermediär für Investoren darstellen kann. Dazu wird zunächst im zweiten Kapitel aus theoretischer Perspektive hergeleitet, warum Informationsintermediäre auf dem Kapitalmarkt auftreten, um auf dieser Basis deren öko


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Product Details
  • ISBN-13: 9783668794467
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 84
  • Spine Width: 5 mm
  • Width: 148 mm
  • ISBN-10: 3668794464
  • Publisher Date: 22 Aug 2018
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 122 gr


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Erfüllen Finanzanalysten ihre Funktion als Informationsintermediär und stellen crowd-basierte Plattformen eine Alternative für Investoren dar?
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