Based on a unique data set, this paper examines the pricing of equity-linked structured
products in the German market. The daily closing prices of a large variety of structured …

We study the influence of systematic probability misestimation on complex financial
investment decisions on the context of structured financial products. Structured products …

We apply cumulative prospect theory and hedonic framing to evaluate discount reverse
convertibles (DRCs) and reverse convertible bonds (RCBs) as important examples of …

The market for structured financial products in Switzerland ranks among the largest in the
world. A unique characteristic of the Swiss market is that its most successful products are …

In this paper, we first show that for classical rational investors with correct beliefs and
constant absolute or constant relative risk aversion, the utility gains from structured products …

This paper is the first to measure individual investors' realized risk-adjusted performance in
structured financial products, which represent one of the key financial innovations in recent …

This article analyses the valuation of 192 structured products without a capital guarantee. In
contrast to similar studies, this investigation takes in both the primary and the secondary …

This study analyzes bank margins in the German secondary market for exchange‐traded
structured financial products, with particular emphasis on the influence of banks' credit risk …

We study the pricing of reverse convertible (RC) bonds. These are bonds that carry high
coupon payments. In exchange, the issuer has an option at the maturity date to either …

This paper describes the first thorough empirical analysis of the pricing of leverage products
in the German retail market. These mainly exchange-traded products with an impressive …