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Indexanpassungen (des S&P 500)

Indexanpassungen (des S&P 500)

          
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About the Book

Diplomarbeit aus dem Jahr 2006 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,7, Universität zu Köln, Veranstaltung: Betriebswirtschaftliche Finanzierungslehre / Kapitalmarktforschung, Sprache: Deutsch, Abstract: Der S&P 500 stellt den populärsten und am häufigsten als Benchmark genutzten Aktienindex der S&P-Indexfamilie und aller US-Indices dar. Seit dem Jahre 1957 aus 500 Unternehmenswerten bestehend, vereinte dieser am Ende des Jahres 2005 eine Marktkapitalisierung von 11,258 Billionen US-$. Da der S&P 500 damit über 80 % der kumulierten Marktkapitalisierung aller börsengehandelten US-Unternehmen umfasst, spiegelt er die Entwicklung des US-Aktienmarktes wider und dient folglich auch als Indikator für die generelle Wirtschaftsentwicklung der USA. Diese Indikatorfunktion wird dadurch verstärkt, dass ein über die Indexzusammensetzung wachendes und ihn entsprechend anpassendes Index-Komitee offiziell dafür Sorge trägt, dass die wichtigsten Wirtschaftssektoren und -branchen im Index zu etwa denselben wertmäßigen Anteilen wie im gesamten Unternehmensuniversum vertreten sind. Da das Komitee versucht, diese Repräsentativität mit einer minimalen Anzahl jährlicher Indexanpassungen zu gewährleisten und gleichzeitig ein kostenminimales Replizieren des S&P 500 durch indexorientierte Anleger zu ermöglichen, wurde ein Kriterienkatalog festgelegt, der dem Komitee als Entscheidungsgrundlage dafür dient, zu erkennen, welche Unternehmen in den S&P 500 neu aufgenommen und welche aufgrund von Nichterfüllung mehrerer Kriterien gestrichen werden sollten. Ziel dieser Arbeit ist die Erläuterung der Gründe und alternativen Hypothesen, welche eine Erklärung für durch Indexanpassungen des S&P 500 ausgelöste abnormale Kurseffekte liefern können. Dem theoretischen Teil der Arbeit soll eine empirische Untersuchung folgen, welche die in der letzten Zeit stattgefundenen Streichungen aus und Neuaufnahmen in den S&P 500 auf abnormale Kurseffekte hin überprüft u


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Product Details
  • ISBN-13: 9783638718356
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 6 mm
  • Width: 148 mm
  • ISBN-10: 3638718352
  • Publisher Date: 27 Sep 2007
  • Height: 210 mm
  • No of Pages: 100
  • Series Title: German
  • Weight: 141 gr


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