Diversification is famously referred to as the only “free lunch” in investing, but it has been
under assault since the 2007–2009 global financial crisis, when virtually all longonly asset …

Given the tremendous growth of factor allocation strategies in active and passive fund
management, we investigate whether factor or sector asset allocation strategies provide …

In this paper, we investigate the diversification benefits associated with factor investing in US
stock markets, using the dummy-variable framework for asset allocation. We find that beta …

These lecture notes cover old and new investment methods, regulatory and legal
developments and the role of technology as a game changer in asset management. The …

With the evolution of index-based investing in the past decades, we investigate three
investment universes consisting of sector, factor, and country indices in the European equity …

Die nachfolgende Dissertation entstand während meiner Tätigkeit als wissenschaftlicher
(Projekt-) Mitarbeiter bei Prof. Dr. Thorsten Poddig am Lehrstuhl für Finanzwirtschaft …

1.1 Background In efficient markets, all relevant information should already be included in
asset prices and thus investors should not be able to gain excess returns with respect to …

One of the principal questions in financial economics and applied finance relates to the
optimal allocation of capital assets to portfolios. In recent times this field has received …