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On April 1st, 2019 the 18th Colloquium on Financial Markets takes place at Sparkasse KoelnBonn in Cologne. Prof. Dr. Alexander Kempf organizes the colloquium on behalf of the Centre of Financial Research (CFR) and addresses people interested in the field… Continue Reading →
In a post one year ago, we introduced our article on the previous lives of fund managers by an article accepted at the Review of Financial Studies. Naturally, not only fund managers can have previous lives – analysts may also… Continue Reading →
Moving from decentralized financial markets to central clearing has a systemic consequence. Central Clearing Counterparties (CCPs) become central “nodes” in the market participant network. If clearing members are only connected to the CCP via clearing, CCP risk management can focus… Continue Reading →
In a recent post, we introduced the January effect: higher equity returns in January. Today, we dig more deeply into the reasons for the (nowadays obsolete) market anomaly. How Do You Feel in January? In their 2018 International Review of… Continue Reading →
The first month of the new year is almost over, and it’s time for the market anomaly of the month. Following the Santa Claus rally post, we now focus on the “January effect”: positive abnormal returns in January. 3 Reasons… Continue Reading →