Empirical Research on the German Capital Market

This collection of fifteen original articles results from a cooperative intensive program of research on the German capital market. The program objectives included the development of expertise in modern empirical methods in financial economics and the derivation of results that might be specific to the German capital market.
The four parts of the book are dedicated to:
- problems of market structure and organization
- information and capital market
- risk and return
- futures and options
Altogether, the book gives an overview of empirical research on capital markets in Germany and helps to understand their nature. It also shows the application of modern techniques in financial research.

A Market Structure and Organization. - Market Design, Trading Behavior and Price Discovery - An Experimental Stock Market Model. - Designing an Experimental Stock Market. - Private Investor Behavior in Germany: An Empirical Survey and Experimental Results. - Market Structure and Bid-Ask Spread. - Statutory Induced Switching into a New Market. - B Information and Capital Market. - Financial Market Indicators and Real Capital Investment in Germany. - Financial Reporting and the Stock Market in Germany. - C Risk and Return. - An Investigation into the Number of Factors Generating German Stock Returns. - The German Equity Market: Risk, Return, and Liquidity. - Estimation and Prediction of Systematic Risk with Market-Based and Accounting-Based Data for German Shares. - Measuring Portfolio Performance and the Empirical Content of the APT. - D Futures and Options. - Analysis of the Call Policy of Bund, Bahn, and Post in the German Bond Market. - Time-lags between Price Changes of Stocks and Stock Options. - The Dax Futures Market and Dividends. - Impact of Stock Price Jumps on Option Values.