Wesentliche Argumentationslinien der Diskussion über Aufgaben, Ausgestaltung und Auswertung der externen Rechnungslegung unter Berücksichtigung von alternativen Darstellungsmöglichkeiten.
Übersichtliche Lehrbuchdarstellung zu einem aktuellen theoretischen Thema, insbesondere auch als "Grundlagenforschung" für das Kapitalmarktgeschehen. Aus dem Inhalt: Einleitung. Starkes und schwaches ...Kausalitätsprinzip. Einführung notwendiger Grundbegriffe. Eingrenzung des Begriffes "Chaos". Methoden zur Charakterisierung chaotischen Verhaltens. Schlußbetrachtung.
"Loistl-Lingemann" präsentieren einen längst überfälligen Überblick über das Angebot an Software, die für das erfolgreiche Agieren auf modernen Märkten immer notwendiger wird.
This article is a comment on the paper by Harry Markowitz on “Mean-Variance approximations to expected utility”, European Journal of Operational Research, 234 (2014), 436-355. This comment is ...followed by the reply of Harry Markowitz.
Recent finance and economic forecasting and risk calculation failures made obvious that macro-modelling without micro-foundation may be treacherous. Reliable macro-modelling requires the consistent ...bundling of individual actions into intermediate and macro-variables exploiting the individual actions' coordination and its dynamics. The degree of coordination may range from chaos - absence of coordination - to determined situations caused by macro-level equilibrium dictating any agent's actions and inhibiting interactions. Coordination clusters individual actions into real decision units such as companies, political parties and unions. It structures the emergent intermediate and macro-level situations vitally.The paper presents first a centennial history of prominent scholars' quotes questioning the equilibrium paradigm, a short survey of prevailing paradigm's deficiencies laid bare once again by the latest financial crises.It proposes second discrete choice (DC) - successfully applied in different fields - to model the individual agent's decision. DCs innovative integration into a Markov process provides a steady foundation to model interactions of individual agents consistently.The final section justifies the actions' proposed interactive bundling by referring to recent advances in data processing and network topology. The dynamic modelling of the actions' and interactions' coordination breaks fresh grounds both with regards to mathematical, computational and economic modeling requirements. The combination of latest developments in data processing like Big Data and the recently (re)discovered network topology capabilities may cope with these challenges.
Computerized trading controlled by algorithms - "Algorithmic Trading" - has become a fashionable term in investment banking. We investigate a set of Xetra order data to find traces of algorithmic ...trading by studying the lifetimes of cancelled orders. Even though it is widely agreed that an algorithm must randomize its order activities to avoid exploitation by other traders, we still find systematic patterns in the submission and cancellation of certain Xetra orders, indicating the activity of algorithmic trading. The trading patterns observed might be interpreted as fishing for profitable roundtrips.
