Introduction

Zusammenfassung

The financial crisis in 2008 and 2009 has once again demonstrated that capital markets are important for the functioning of the economy in the industrial world. Stock markets represent one important part of the capital markets. Their importance is, for instance, reflected in numerous books and studies about different aspects of stock markets. This thesis deals with three of these aspects, namely investment trading strategies, the reactions of market participants, as well as the trading and success of institutional investors. I will describe these aspects shortly in the following. These descriptions will lead over to the three research questions I address in this thesis.