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Konvergenz der europäischen Aktienmärkte: Eine Analyse der Entwicklungen und Herausforderungen für Investoren

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  • Peter, Manuel

Abstract

Die anhaltende Niedrigzinsphase stellt Investoren vor die Herausforderung renditestarke Erträge außerhalb festverzinslicher Anlagen zu suchen. Aktienmärkte spielen hierbei eine herausgehobene Rolle. Doch insbesondere seit den 1990er Jahren durchlaufen die internationalen Aktienmärkte eine Phase der Integration und Konvergenz, die es angesichts höherer Verlustrisiken bei Aktienanlagen erschwert, Risiken zu diversifizieren. Das vorliegende Arbeitspapier untersucht hierzu die Rolle der Euro-Währungsunion hinsichtlich ihres Beitrags zur Konvergenz der Aktienmärkte. Die Analyse versucht darüber hinaus die verschiedenen Transmissionskanäle herauszuarbeiten und deren Wirkstärken zu bestimmen. Schließlich werden die Auswirkungen der Konvergenz der Aktienmärkte für die Diversifikation von Risiken über mehrere Volkswirtschaften hinweg untersucht und diesbezüglich die vorteilhafte Möglichkeit der Streuung von Verlustrisiken über unterschiedliche Industriezweige aufgezeigt.

Suggested Citation

  • Peter, Manuel, 2015. "Konvergenz der europäischen Aktienmärkte: Eine Analyse der Entwicklungen und Herausforderungen für Investoren," Arbeitspapiere 150, University of Münster, Institute for Cooperatives.
    • Handle: RePEc:zbw:wwuifg:150
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