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Index-Effekt. Einfluss von Exchange Traded Funds auf die Volatilität während der Indexanpassung

Index-Effekt. Einfluss von Exchange Traded Funds auf die Volatilität während der Indexanpassung

          
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About the Book

Studienarbeit aus dem Jahr 2020 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,3, Hochschule für Wirtschaft und Recht Berlin, Veranstaltung: BWL/Bank, Sprache: Deutsch, Abstract: Diese Arbeit beschäftigt sich mit dem Einfluss von Exchange Traded Funds (ETF) auf die Volatilität der Einzelwerte. Im Speziellen wird der Einfluss von ETFs auf die Kurse nach Indexanpassungen untersucht und gemessen. Zu Beginn werden die grundlegenden Begriffe erläutert und der Markt für ETFs untersucht. Im Hauptteil wird der Einfluss auf die Preisbildung untersucht. Hierbei wird der Blick zuerst auf die Bedeutung des Kapitalmarkts in Deutschland, danach auf die Handelsvolumina von ETFs und zuletzt auf die Volatilität an den Kapitalmärkten gerichtet. Die ermittelten Erkenntnisse werden anschließend auf die jüngsten Indexanpassungen des DAX ́ angewendet (Commerzbank AG - Wirecard AG; Wirecard AG - Delivery Hero SE), um im letzten Punkt eine Antwort auf die Leitfrage zu geben und mögliche Lösungsansätze zu formulieren. Die Bedeutung von Exchange Traded Funds nahm in den letzten zwei Jahrzehnten immer weiter zu. ETF-Anbieter versprechen auch Kleinanlegern mit geringem Kapitaleinsatz eine lukrative und kostengünstige Anlagemöglichkeit. Die Nullzinspolitik unterstützt diesen Trend und so steigt die Nachfrage nach dem innovativen Finanzanlageprodukt immer weiter. Dies führt dazu, dass die Emittenten immer mehr Produkte auf den Markt bringen, um von der hohen Nachfrage zu profitieren. So bietet zum Beispiel Lyxor (fusioniert mit ComStage ehemals Teil der Commerzbank AG) über 300 verschiedene ETFs an. Aufgrund des hohen Volumens sollten ETF ́s kritisch hinterfragt werden, um mögliche Risiken für die Kapitalmärkte und die Volkswirtschaften frühzeitig zu erkennen. Das Phänomen, nach dem Kurse der Einzelwerte, die in einen Index aufgenommen werden, steigen und Kurse der Einzelwerte, die einen Index verlassen müssen, fallen, wird Index-Effekt genannt. Dieser Effekt soll, durch ETFs, die den


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Product Details
  • ISBN-13: 9783346295125
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 36
  • Spine Width: 2 mm
  • Width: 148 mm
  • ISBN-10: 3346295125
  • Publisher Date: 30 Oct 2020
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 59 gr


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Index-Effekt. Einfluss von Exchange Traded Funds auf die Volatilität während der Indexanpassung
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