The monetary system of a society reflects everything that this people wants, does, suffers, is; and at the same time, the monetary system of a society has an essential influence on its activity and destiny in general.

Narratives are short stories that convey values and emotions. They can spread like an epidemic and have an influence on pricing in the capital markets. In this study, we show that the contagious power of the narrative surrounding bitcoin helped to dr ...

Few trends on capital markets have received so much attention as the strong growth of exchange traded funds (ETFs). Within this asset class, the so called smart beta (SB) products enjoy ever growing popularity.

The bet on Bitcoin as our future money is a bad bet. Even if you expect crypto money in the future, you must expect that neither Bitcoin nor any of the other existing currencies will prevail.

While empirical research in the past has been able to identify seasonalities in the capital market, we show that such calendar effects have almost disappeared.

The "people's share" was the wrong way to go for a sustainable "equity culture". The share issues by Volkswagen and Deutsche Telekom showed that small shareholders were lured into risky investments. The equity culture includes a long-term investment ...