Die Bedeutung der Behavioral Finance Theorie für institutionelle Anleger
- Abstract
This Bachelor Thesis analysis the importance of the Behavioral Finance Theory for institutional investors. In order to illustrate which behavioral factors are of interest for professional traders, this thesis commences with an introduction of the efficient market hypothesis and highlights capital market biases which cannot be explained by the neoclassical paradigm. The Behavioral Finance Theory, which aroused from the analysis of those biases is thereafter explained and set into the context of its relevance for institutional investors.
The findings of the theoretical research are scrutinized by an empirical research, consisting of two interviews with experts in the field of the behavioral finance.
By summarizing the results of the theoretical and empirical research it can be elucidated that the Behavioral Finance Theory, due to its descriptive nature, is not of significant importance to institutional traders.