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Value Investing anhand des Piotroski Fundamentalwert Scores: Eine empirische Analyse des deutschen Aktienmarktes

Value Investing anhand des Piotroski Fundamentalwert Scores: Eine empirische Analyse des deutschen Aktienmarktes

          
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About the Book

Bachelorarbeit aus dem Jahr 2018 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 2,0, Duale Hochschule Baden-Württemberg, Ravensburg, früher: Berufsakademie Ravensburg, Sprache: Deutsch, Abstract: Es gibt zahlreiche Investmentstrategien, mit deren Hilfe Anleger versuchen, eine risikoadjustierte Überrendite auf dem Kapitalmarkt zu erwirtschaften. Eine der populärsten Strategien ist das sogenannte Value Investing. Diese Strategie beruft sich auf eine der bekanntesten existierenden Kapitalmarktanomalie: der Wertanomalie (englisch value anomaly). Die Grundlage für das Value Investing ist die Fundamentalwertanalyse. Hierbei wird versucht durch eine systematische Untersuchung der betriebswirtschaftlichen Daten, den intrinsischen Wert eines Unternehmens zu bestimmen. Der Aktienwert eines Unternehmens, der sich durch das Zusammentreffen von An-gebot und Nachfrage an der Börse bildet, kann von diesem intrinsischen Wert abweichen. Beim Value Investing wird gezielt in unterbewertete Unternehmen investiert, mit der Annahme, dass sich der Aktienkurs auf längere Sicht wieder dem intrinsischen Wert angleichen wird. In der Praxis stellt sich jedoch die Frage, wie diese sogenannten Value Unternehmen identifiziert werden können. Theoretisch ist es einerseits möglich, eine umfassende Reihe von Kennzahlen und Prognosen anhand der Jahresabschlüsse zu erstellen und dadurch Rückschlüsse auf den intrinsischen Wert zu erhalten. Diese Vorgehensweise wird als reine Value Strategie bezeichnet. Oftmals scheitert eine umfassende Fundamentalwertanalyse allerdings an der Komplexität und dem Zeitaufwand, den ein Investor hierfür betreiben müsste.


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Product Details
  • ISBN-13: 9783668856981
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 96
  • Spine Width: 6 mm
  • Weight: 136 gr
  • ISBN-10: 3668856982
  • Publisher Date: 23 Jan 2019
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Sub Title: Eine empirische Analyse des deutschen Aktienmarktes
  • Width: 148 mm


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