Wolfgang Bessler

University of Hamburg

Allende-Platz 1

Hamburg, 20146

Germany

SCHOLARLY PAPERS

41

DOWNLOADS
Rank 5,255

SSRN RANKINGS

Top 5,255

in Total Papers Downloads

10,395

SSRN CITATIONS
Rank 10,873

SSRN RANKINGS

Top 10,873

in Total Papers Citations

51

CROSSREF CITATIONS

64

Scholarly Papers (41)

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 2,001 (9,999)
Citation 11

Abstract:

Loading...

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

2.
Downloads 881 (34,455)
Citation 11

Abstract:

Loading...

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 783 (40,559)
Citation 1

Abstract:

Loading...

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

4.

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 756 (42,555)
Citation 6

Abstract:

Loading...

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

5.

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 672 (49,802)
Citation 13

Abstract:

Loading...

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

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 592 (58,661)
Citation 7

Abstract:

Loading...

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
Downloads 482 (75,759)
Citation 9

Abstract:

Loading...

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 403 (93,527)
Citation 1

Abstract:

Loading...

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 380 (100,104)

Abstract:

Loading...

Cross Listing, Delisting, Market Segmentation, Bonding Theories

10.

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 366 (104,727)

Abstract:

Loading...

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

11.

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 356 (107,685)
Citation 3

Abstract:

Loading...

Banks, Macroeconomic Risk, Financial Crisis

12.

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 351 (109,400)
Citation 4

Abstract:

Loading...

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

13.

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 339 (113,746)

Abstract:

Loading...

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 288 (135,453)
Citation 3

Abstract:

Loading...

Mergers & Acquisitions, Initial Public Offerings, Sequence

15.

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 229 (170,223)

Abstract:

Loading...

hedge funds, asset allocation

16.

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 226 (172,452)
Citation 1

Abstract:

Loading...

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

17.

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 193 (199,558)

Abstract:

Loading...

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 112 (310,219)
Citation 2

Abstract:

Loading...

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 61 (448,716)

Abstract:

Loading...

mutual fund performance, fund and family characteristics, capacity effects

19.

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 127 (281,882)

Abstract:

Loading...

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

20.

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 Deka Investment GmbHDarmstadt University of Technology
Downloads 126 (283,617)

Abstract:

Loading...

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

21.

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 96 (342,003)

Abstract:

Loading...

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

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 91 (356,637)

Abstract:

Loading...

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

Equity Issues and Stock Repurchases of Initial Public Offerings

European Financial Management, Vol. 22, Issue 1, pp. 31-62, 2016
Number of pages: 32 Posted: 21 Jan 2016
University of Hamburg, University of Hamburg, Justus-Liebig-University Giessen and Justus-Liebig-University Giessen
Downloads 0
Citation 1
  • Add to Cart

Abstract:

Loading...

Initial public offerings, share repurchases, seasoned equity offerings, valuation effects

23.

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 University of Warwick - Accounting Group
Downloads 89 (358,686)
Citation 2

Abstract:

Loading...

Corporate Hedging, Derivatives, Firm Value, Meta Analysis

24.

Fundamental Factor Models and Macroeconomic Risks - An Orthogonal Decomposition

Number of pages: 51 Posted: 17 Jul 2019
Christopher Adcock, Wolfgang Bessler and Thomas Conlon
University of Minho, University of Hamburg and University College Dublin
Downloads 82 (376,999)
Citation 2

Abstract:

Loading...

characteristic factors, macroeconomic fundamentals, variance decomposition, quantile regression

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 78 (388,169)
Citation 3

Abstract:

Loading...

Bank Risk Exposures; Systematic and Idiosyncratic Risk; Financial Crises

26.

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 74 (399,889)

Abstract:

Loading...

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

27.

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 62 (442,486)

Abstract:

Loading...

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

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 49 (488,704)

Abstract:

Loading...

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
Downloads 34 (560,101)

Abstract:

Loading...

Mutual funds, performance persistence, fund flows, manager changes

30.

Financing Shipping Companies and Shipping Operations: A Risk‐Management Perspective

Journal of Applied Corporate Finance, Vol. 23, Issue 4, pp. 70-82, 2011
Number of pages: 15 Posted: 22 Dec 2011
Stefan Albertijn, Wolfgang Bessler and Wolfgang Drobetz
affiliation not provided to SSRN, University of Hamburg and University of Hamburg
Downloads 8 (740,259)
Citation 1
  • Add to Cart

Abstract:

Loading...

31.

Information Asymmetry and Financing Decisions

International Review of Finance, Vol. 11, No. 1, pp. 123-154, 2011
Number of pages: 32 Posted: 09 Mar 2011
Wolfgang Bessler, Wolfgang Drobetz and Matthias C. Grninger
University of Hamburg, University of Hamburg and affiliation not provided to SSRN
Downloads 4 (771,610)
Citation 1
  • Add to Cart

Abstract:

Loading...

32.

The Returns to Hedge Fund Activism in Germany

European Financial Management, Vol. 21, Issue 1, pp. 106-147, 2015
Number of pages: 42 Posted: 29 Jan 2015
Wolfgang Bessler, Wolfgang Drobetz and Julian Holler
University of Hamburg, University of Hamburg and University of Giessen - Center for Finance and Banking
Downloads 2 (789,028)
Citation 4
  • Add to Cart

Abstract:

Loading...

Corporate governance, hedge funds, event studies, long‐run performance

33.

FMA Roundtable on New Developments in European Corporate Governance

Journal of Applied Corporate Finance, Vol. 29, Issue 1, pp. 50-75, 2017
Number of pages: 28 Posted: 12 Apr 2017
University of Delaware - John L. Weinberg Center for Corporate Governance, Hanken School of Economics - Department of Economics, University of Marburg - School of Business & Economics, University of Hamburg and Journal of Applied Corporate Finance
Downloads 1 (800,590)
Citation 1
  • Add to Cart

Abstract:

Loading...

34.

Conflicts of Interest and Research Quality of Affiliated Analysts in the German Universal Banking System: Evidence from IPO Underwriting

European Financial Management, Vol. 15, Issue 4, pp. 757-786, September 2009
Number of pages: 30 Posted: 08 Oct 2009
Wolfgang Bessler and Matthias Stanzel
University of Hamburg and affiliation not provided to SSRN
Downloads 1 (800,590)
Citation 1
  • Add to Cart

Abstract:

Loading...

35.

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

Abstract:

Loading...

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

36.

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

Abstract:

Loading...

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

37.

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

Abstract:

Loading...

asset management, ship funds, freight markets, VEC model

38.

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

Abstract:

Loading...

39.

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

Abstract:

Loading...

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)

Abstract:

Loading...

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)

Abstract:

Loading...

dividend policy, bank, initial public offerings

41.

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

Abstract:

Loading...