Wolfgang Bessler

University of Hamburg

Allende-Platz 1

Hamburg, 20146

Germany

SCHOLARLY PAPERS

36

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SSRN CITATIONS
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Top 12,890

in Total Papers Citations

91

CROSSREF CITATIONS

30

Scholarly Papers (36)

1.

Multi-Asset Portfolio Optimization and Out-of-Sample Performance: An Evaluation of Black-Litterman, Mean Variance and Naïve Diversification Approaches

European Journal of Finance, Forthcoming.
Number of pages: 48 Posted: 12 Jun 2012 Last Revised: 06 Dec 2014
Wolfgang Bessler, Heiko Opfer, Dominik Wolff and Dominik Wolff
University of Hamburg, Deka Investment GmbH and Technical University of DarmstadtDeka Investment GmbH
Downloads 2,414 (11,477)
Citation 20

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Portfolio Optimization, Black-Litterman, Mean-Variance, Minimum Variance, Bayes-Stein, Naïve diversification, 1/N, Markowitz

2.
Downloads 923 (48,637)
Citation 12

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3.

Return Prediction Models and Portfolio Optimization: Evidence for Industry Portfolios

Number of pages: 62 Posted: 03 Dec 2014 Last Revised: 04 May 2021
Wolfgang Bessler, Dominik Wolff and Dominik Wolff
University of Hamburg and Technical University of DarmstadtDeka Investment GmbH
Downloads 874 (52,402)
Citation 1

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Portfolio Optimization, Return forecasts, Predictive Regression, Three-Pass Regression Filter, Black-Litterman Model

4.

Do Commodities Add Value in Multi-Asset-Portfolios? An Out-of-Sample Analysis for Different Investment Strategies

Journal of Banking and Finance, 60, 1-20, 2015
Number of pages: 57 Posted: 26 Apr 2014 Last Revised: 20 Nov 2015
Wolfgang Bessler, Dominik Wolff and Dominik Wolff
University of Hamburg and Technical University of DarmstadtDeka Investment GmbH
Downloads 844 (55,004)
Citation 19

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Commodities, Asset allocation models, Out-of-sample portfolio optimization, Diversification, Performance evaluation

5.

Asymmetric Information, Dividend Reductions, and Contagion Effects in Bank Stock Returns

Number of pages: 25 Posted: 06 Sep 2000
Wolfgang Bessler and Tom Nohel
University of Hamburg and Loyola University of Chicago
Downloads 784 (60,783)
Citation 8

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Asymmetric Information, Intra-Industry Effects, Dividend Announcements, Valuation Effects, Financial Intermedation

6.

The Performance of Venture-Backed Ipos in Germany: Exit Strategies, Lock-Up Periods, and Bank Ownership

Number of pages: 44 Posted: 12 Jun 2004
Wolfgang Bessler and Andreas Kurth
University of Hamburg and University of Giessen - Center for Finance and Banking
Downloads 640 (78,933)
Citation 8

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7.

Why Does Mutual Fund Performance Not Persist? The Impact and Interaction of Fund Flows and Manager Changes

Paris December 2010 Finance Meeting EUROFIDAI - AFFI
Number of pages: 44 Posted: 22 Oct 2010 Last Revised: 24 Jun 2020
Wolfgang Bessler, David P. Blake, Peter Lueckoff and Ian Tonks
University of Hamburg, City, University of London, Justus-Liebig-University Giessen and University of Bristol - Department of Finance and Accounting
Downloads 543 (97,025)
Citation 9

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Mutual Funds, Performance Persistence, Fund Flows, Manager Turnover

8.

Portfolio Optimization with Industry Return Prediction Models

30th Australasian Finance and Banking Conference 2017
Number of pages: 52 Posted: 01 Aug 2017
Wolfgang Bessler, Dominik Wolff and Dominik Wolff
University of Hamburg and Technical University of DarmstadtDeka Investment GmbH
Downloads 515 (103,590)
Citation 1

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Portfolio Optimization, Return Forecasts, Predictive Regression, Three-Pass Regression Filter, Black-Litterman Model

9.

The Listing and Delisting of German Firms on NYSE and NASDAQ: Were There Any Benefits?

Journal of International Financial Markets, Institutions and Money, Forthcoming
Number of pages: 50 Posted: 16 Sep 2011 Last Revised: 30 Aug 2014
University of Hamburg, University of New Hampshire - Department of Accounting & Finance, University of Giessen - Center for Finance and Banking and Justus-Liebig-University Giessen
Downloads 456 (119,855)
Citation 1

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Cross Listing, Delisting, Market Segmentation, Bonding Theories

10.

Analyzing Hedging Strategies for Fixed Income Portfolios: A Bayesian Approach for Model Selection

International Review of Financial Analysis, Forthcoming
Number of pages: 41 Posted: 26 Apr 2014 Last Revised: 25 Jan 2016
University of Hamburg, University of Giessen and Technical University of DarmstadtDeka Investment GmbH
Downloads 427 (129,406)
Citation 4

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Sovereign Debt Crisis, Bond Portfolio Management, Interest Rate Fu-tures, MGARCH, Bayesian composite hedging, Hedge Ratio, Hedging Effectiveness

11.

The 2020 European Short-Selling Ban and the Effects on Market Quality

Finance Research Letters, Forthcoming
Number of pages: 38 Posted: 18 Aug 2021
Wolfgang Bessler and Marco Vendrasco
University of Hamburg and University of Hamburg
Downloads 423 (130,826)
Citation 1

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Short-selling ban, COVID-19, market-quality measures, liquidity, volatility, trading volume

12.

Bank Risk Factors and Changing Risk Exposures of Banks: Capital Market Evidence Before and During the Financial Crisis

Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 46 Posted: 31 Aug 2012 Last Revised: 19 Feb 2013
Wolfgang Bessler and Philipp Kurmann
University of Hamburg and University of Giessen - Center for Finance and Banking
Downloads 422 (131,162)
Citation 3

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Banks, Macroeconomic Risk, Financial Crisis

13.

Factor-Investing and Asset Allocation Strategies: A Comparison of Factor Versus Sector Optimization

Journal of Asset Management, forthcoming
Number of pages: 41 Posted: 01 Apr 2021 Last Revised: 10 May 2021
University of Hamburg, University of Giessen and Technical University of DarmstadtDeka Investment GmbH
Downloads 421 (131,527)

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Asset Allocation, Portfolio Optimization, Factor-investing, Factor vs. Sector Allocation

14.

Acquisition Activities of Initial Public Offerings in Europe: An Analysis of Exit and Growth Strategies

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 48 Posted: 20 Sep 2011 Last Revised: 18 Sep 2012
Wolfgang Bessler and Jan Zimmermann
University of Hamburg and Justus-Liebig-University Giessen
Downloads 369 (152,680)
Citation 3

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Mergers & Acquisitions, Initial Public Offerings, Sequence

15.

Special Issue: New Asset Classes in Portfolio Management

Financial Markets and Portfolio Management, Vol. 21, No. 1, 2007
Number of pages: 1 Posted: 04 Jan 2007
Wolfgang Bessler
University of Hamburg
Downloads 360 (156,929)

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16.

Optimal Asset Allocation Strategies for International Equity Portfolios

Journal of International Financial Markets, Institutions & Money 2018
Number of pages: 45 Posted: 09 May 2021
University of Hamburg, University of Giessen and Technical University of DarmstadtDeka Investment GmbH
Downloads 318 (179,214)

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Asset Allocation; Portfolio Optimization; Industry Optimization; Country Optimization; Markowitz; Black-Litterman

17.

Growth Strategies of Entrepreneurial Firms after Going Public: A European Perspective

Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 36 Posted: 02 Sep 2012 Last Revised: 25 Jan 2013
Wolfgang Bessler and Jan Zimmermann
University of Hamburg and Justus-Liebig-University Giessen
Downloads 273 (210,027)
Citation 1

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Initial Public Offering, Financing Policy, Internal Growth, External Growth

18.

Hedge Funds and Optimal Asset Allocation: Bayesian Expectations, Time-Varying Investment Opportunities and Mean-Variance Spanning

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 51 Posted: 16 Sep 2011 Last Revised: 08 Dec 2011
Wolfgang Bessler, Julian Holler and Philipp Kurmann
University of Hamburg, University of Giessen - Center for Finance and Banking and University of Giessen - Center for Finance and Banking
Downloads 272 (210,802)

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hedge funds, asset allocation

19.

Hedging European Government Bond Portfolios during the Recent Sovereign Debt Crisis

Journal of International Financial Markets, Institutions and Money, Forthcoming, Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 51 Posted: 01 Sep 2012 Last Revised: 23 Oct 2014
Wolfgang Bessler, Dominik Wolff and Dominik Wolff
University of Hamburg and Technical University of DarmstadtDeka Investment GmbH
Downloads 238 (240,593)

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Sovereign Debt Crisis, Fixed Income Securities, Bond Portfolio Management, Interest Rate Futures, Hedge Ratio, Hedging Effectiveness

Capacity Effects and Winner Fund Performance: The Relevance and Interactions of Fund and Family Characteristics

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 40 Posted: 16 Sep 2011 Last Revised: 08 Dec 2011
University of Hamburg, Concordia University, Quebec - John Molson School of Business, University of Giessen - Center for Finance and Banking and Justus-Liebig-University Giessen
Downloads 141 (382,393)
Citation 2

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mutual funds, capacity effects

Capacity Effects and Winner Fund Performance: The Relevance and Interactions of Fund and Family Characteristics

Number of pages: 45 Posted: 11 Jun 2012
University of Hamburg, Concordia University, Quebec - John Molson School of Business, University of Giessen - Center for Finance and Banking and Justus-Liebig-University Giessen
Downloads 97 (507,085)

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mutual fund performance, fund and family characteristics, capacity effects

21.

Characteristic-Sorted Portfolios and Macroeconomic Risks - An Orthogonal Decomposition

Journal of Empirical Finance, Vol. 65, 2022, Michael J. Brennan Irish Finance Working Paper Series Research Paper No. 22-2
Number of pages: 77 Posted: 17 Jul 2019 Last Revised: 08 Feb 2022
Christopher Adcock, Wolfgang Bessler and Thomas Conlon
University of Minho, University of Hamburg and University College Dublin
Downloads 192 (293,575)
Citation 5

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characteristic factors, macroeconomic fundamentals, variance decomposition, quantile regression

22.

Does Corporate Hedging Enhance Shareholder Value? A Meta-Analysis

International Review of Financial Analysis, Forthcoming, Michael J. Brennan Irish Finance Working Paper Series Research Paper No. 19-4
Number of pages: 35 Posted: 19 Dec 2018 Last Revised: 21 Feb 2019
Wolfgang Bessler, Thomas Conlon and Xing Huan
University of Hamburg, University College Dublin and EDHEC Business School
Downloads 184 (304,852)
Citation 8

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Corporate Hedging, Derivatives, Firm Value, Meta Analysis

23.

Securities Market Reforms and Market Segments for IPOs: An Analysis of Listing and Delisting Decisions in Germany

Number of pages: 52 Posted: 03 Dec 2018 Last Revised: 13 Feb 2019
University of Hamburg, Handelshochschule Leipzig (HHL) - Center for Corporate Governance, University of Marburg - School of Business & Economics and University of Hamburg
Downloads 169 (328,601)

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Securities market organization, corporate governance, regulatory reforms, going public, going dark, segment transfer, delisting

24.

The Effects of Corporate Governance Reforms in Japan on the Market for Corporate Control and M&A Activity

Number of pages: 63 Posted: 16 Dec 2018 Last Revised: 07 Feb 2019
Wolfgang Bessler and Gerrit Henrich
University of Hamburg and Justus Liebig University Giessen
Downloads 160 (344,463)

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Corporate Governance, M&A, Japan, Valuation Effects, Financial Advisor

25.

Time-Varying Systematic and Idiosyncratic Risk Exposures of US Bank Holding Companies

Number of pages: 49 Posted: 02 Dec 2014
Wolfgang Bessler, Philipp Kurmann and Tom Nohel
University of Hamburg, University of Giessen - Center for Finance and Banking and Loyola University of Chicago
Downloads 123 (424,073)
Citation 3

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Bank Risk Exposures; Systematic and Idiosyncratic Risk; Financial Crises

26.

The Global Financial Crisis and Stock Market Migrations: An Analysis of Family and Non-Family Firms in Germany

International Review of Financial Analysis, Vol. 74, 2021
Number of pages: 80 Posted: 03 Dec 2018 Last Revised: 11 Aug 2021
University of Hamburg, Handelshochschule Leipzig (HHL) - Center for Corporate Governance, University of Marburg - School of Business & Economics and University of Hamburg
Downloads 118 (437,551)
Citation 1

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Securities market organization, corporate governance, regulatory changes, going dark, delisting, family firms

27.

Equity Issues and Stock Repurchases of Initial Public Offerings

European Financial Management, Forthcoming
Number of pages: 44 Posted: 29 Aug 2014
University of Hamburg, University of Hamburg, Justus-Liebig-University Giessen and Justus-Liebig-University Giessen
Downloads 118 (437,551)
Citation 1

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Initial Public Offerings, Share Repurchases, Seasoned Equity Offerings, Valuation Effects

28.

Centralized Derivatives Markets, Systemic Risk, and Recovery and Resolution of CCPs (Presentation Slides)

Presentation at Conference on Systemic Risk and the Organization of the Financial System, Chapman University, May 12, 2017
Number of pages: 45 Posted: 05 Oct 2017
Wolfgang Bessler
University of Hamburg
Downloads 76 (584,023)

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Derivatives, Systemic Risk, Centralized Clearing, Resolution

29.

Fund Flows, Manager Change and Performance Persistence

Number of pages: 65 Posted: 22 Jun 2020
Wolfgang Bessler, David P. Blake, Peter Lueckoff and Ian Tonks
University of Hamburg, City, University of London, Justus-Liebig-University Giessen and University of Bristol - Department of Finance and Accounting
Downloads 71 (606,362)

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Mutual funds, performance persistence, fund flows, manager changes

30.

The International Zero-Leverage Phenomenon

Midwest Finance Association 2013 Annual Meeting Paper
Posted: 05 Apr 2012 Last Revised: 16 Oct 2014
Wolfgang Bessler, Wolfgang Drobetz, Rebekka Haller and Iwan Meier
University of Hamburg, University of Hamburg, University of Hamburg and HEC Montreal - Department of Finance

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Capital structure, zero-leverage, debt conservatism, financial constraints, financial flexibility

31.

Patents and the Performance of Technology Firms: Evidence from Initial Public Offerings in Germany

Financial Markets and Portfolio Management, Vol. 22, No. 4, pp. 323-356, 2008
Posted: 18 Jun 2010
Wolfgang Bessler and Claudia Bittelmeyer
University of Hamburg and University of Giessen

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Innovation, Patents, Initial public offerings, Long-run performance

32.

Ship Funds as a New Asset Class: An Empirical Analysis of the Relationship between Spot and Forward Prices in Freight Markets

Journal of Asset Management, Vol. 9, No. 2, pp. 102-120, 2008
Posted: 26 Jul 2008
Wolfgang Bessler, Wolfgang Drobetz and Jörg Seidel
University of Hamburg, University of Hamburg and University of Hamburg - Faculty of Economics and Business Administration, Chair of Corporate and Ship Finance

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asset management, ship funds, freight markets, VEC model

33.

Bank Stock Returns and Economic Variables: An Empirical Analysis for Germany

EFMA 2004 Basel Meetings Paper
Posted: 17 May 2006
Wolfgang Bessler and Heiko Opfer
University of Hamburg and Deka Investment GmbH

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34.

Multi-Factor-Asset Pricing Models for German Stocks: An Empirical Analysis of Time Varying Parameters

Posted: 10 May 2004
Wolfgang Bessler and Heiko Opfer
University of Hamburg and Deka Investment GmbH

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Dividend Policy of Bank Initial Public Offerings

Posted: 29 Apr 2003
Wolfgang Bessler, James P. Murtagh and Dona D. Siregar
University of Hamburg, Siena College and Rensselaer Polytechnic Institute (RPI)

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dividend policy, bank, initial public offerings

Dividend Policy of Bank Initial Public Offerings

Data Not Availalbe
Posted: 17 May 2006
Wolfgang Bessler, James P. Murtagh and Dona D. Siregar
University of Hamburg, Siena College and Rensselaer Polytechnic Institute (RPI)

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dividend policy, bank, initial public offerings

36.

Going Public: A Corporate Governance Perspective

Posted: 27 Jun 1997
Wolfgang Bessler, Fred R. Kaen and Heidemarie Sherman
University of Hamburg, University of New Hampshire - Department of Accounting & Finance and CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute

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