Maximilian Wegener Livres

Exploring the intricate governance of the European Union, this essay examines the decision-making processes among its 27 Member States and key institutions, including the European Commission, Council, and Parliament. It highlights the challenges of satisfying diverse needs within a complex political landscape and investigates the roles of stakeholders and lobbying in policy formulation. Additionally, the analysis reflects on the implications of the prevailing governance system in the context of the Euro crisis, offering insights into the EU's operational dynamics.

The thesis explores the phenomenon of financial bubbles, which occur when asset prices significantly deviate from their intrinsic value, contradicting the efficient market hypothesis. It examines how initial price increases create positive expectations, attracting speculative buyers focused on short-term profits rather than the asset's underlying earnings. Historical examples include notable bubbles like the South Sea bubble, the Great Crash of 1929, and the recent housing bubble in the U.S. The work analyzes the role of economic variables in determining an asset's fundamental value.

Thesis (M.A.) from the year 2014 in the subject Business economics - Investment and Finance, grade: 7.5, Maastricht University, language: English, abstract: The following study examines the performance of mutual funds investing in small cap companies in the period from 1990 until 2013. Therefore, funds investing in small companies in Germany are tested on their ability to deliver risk-adjusted abnormal returns. The returns are risk- adjusted according to Fama French (1996) three-factor model, Carhart four- factor model and the liquidity adjusted five-factor model of Pastor and Stambaugh (2003). A separate examination of the internet crisis 2000 until 2003 and the financial crisis period 2008 until 2013 is done, to assess the ability of fund managers in isolation to examine their results in situations when their skills are most needed. On average, I conclude that fund managers, investing in the small capitalization segment in Germany, are not able to outperform the market even before fees.