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Informationseffizienz von Handelsplattformen für Schiffsfonds

Author

Listed:
  • Küster Simic, André
  • Prigge, Stefan
  • Thönnessen, Rasmus

Abstract

Geschlossene Fonds sind heutzutage ein wichtiger Bestandteil des Kapitalmarktes. Mehr und mehr haben sich für solche Fonds Handelsplattformen, sog. Zweitmärkte, herausgebildet, auf denen diese Beteiligung nach Erwerb gehandelt werden können. In diesem Artikel wird der marktmikrostrukturtheoretischen Frage nachgegangen, ob die Abschlüsse für Schiffsfonds auf solchen Plattformen informationseffizient sind. Es zeigt sich, dass die Abschlusskurse stark von theoretischen Wertdeterminanten wie beispielsweise dem Charterratenniveau abhängen. Somit kann man die Hypothese, dass informationseffiziente Abschlüsse auf solchen Plattformen zustande kommen, nicht abgelehnt werden.

Suggested Citation

  • Küster Simic, André & Prigge, Stefan & Thönnessen, Rasmus, 2008. "Informationseffizienz von Handelsplattformen für Schiffsfonds," Working Paper Series 04/2008, Hamburg School of Business Administration (HSBA).
    • Handle: RePEc:zbw:hsbawp:042008
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    More about this item

    Keywords

    Martkeffizienz; Informationseffizienz; geschlossene Fonds; Wertdeterminanten;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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