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Leibniz Universität Hannover >
Wirtschaftswissenschaftliche Fakultät, Universität Hannover >
Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/38745
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Menkhoff, Lukas | | en_US |
| dc.date.accessioned | | 2010-05-28 | | en_US |
| dc.date.accessioned | | 2010-08-13T12:19:28Z | | - |
| dc.date.available | | 2010-08-13T12:19:28Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/38745 | | - |
| dc.description.abstract | | This paper examines the puzzlingly high unexploited momentum returns from a new perspective. We analyze characteristics of momentum traders in a sample of 692 fund managers. We find that momentum traders are 'defined' by their short-term horizon, by a behavioural view on the market and by a somewhat lower degree of risk aversion, whereas they are like other fund managers with respect to sophistication. This is consistent with the interpretation that momentum returns may compensate for the risk of momentum trading on short-term horizons and that the short-term oriented momentum traders are not in a position to perform long-term arbitrage. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Wirtschaftswiss. Fak., Leibniz Univ. Hannover | | en_US |
| dc.relation.ispartofseries | | Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät // Wirtschaftswissenschaftliche Fakultät, Leibniz Universität Hannover 448 | | en_US |
| dc.subject.jel | | G14 | | en_US |
| dc.subject.jel | | G23 | | en_US |
| dc.subject.jel | | D85 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | momentum trading | | en_US |
| dc.subject.keyword | | market efficiency | | en_US |
| dc.subject.keyword | | behavioural finance | | en_US |
| dc.subject.keyword | | risk | | - |
| dc.subject.stw | | Investmentfonds | | en_US |
| dc.subject.stw | | Führungskräfte | | en_US |
| dc.subject.stw | | Anlageverhalten | | en_US |
| dc.subject.stw | | Wertpapierhandel | | en_US |
| dc.subject.stw | | Zeit | | en_US |
| dc.subject.stw | | Risikoaversion | | en_US |
| dc.subject.stw | | Welt | | en_US |
| dc.title | | Are momentum traders different? Implications for the momentum puzzle | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 626930383 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover
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