Dissertationen/Habilitationen

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A Text-Based Approach to Sustainability Indicators
(2024) Tönjes, Elena Anna
This dissertation explores natural language processing (NLP) techniques applied to the field of sustainability, with a focus on the Sustainable Development Goals (SDGs) and corporate sustainability reporting. It is divided into four main sections, consisting of an introduction, two main research sections and a conclusion. The research takes advantage of advances in large language models, in particular those developed from BERT (Bidirectional Encoder Representations from Transformers) and its subsequent variants, to develop methods for analysing and extracting information from diverse textual sources. The overall aim is to develop sustainability indicators that can provide a good alternative to existing measures. The first main topic of this thesis focuses on sustainable development, introducing new approaches to quantify research and information on the SDGs, and creating a research attention index based on academic articles and a sentiment index based on voluntary national reviews. Both indices will be compared with the official SDG scores provided by the United Nations. The second main topic focuses on sustainability reporting, uncovering possible selective disclosure and creating an ESG sentiment index to compare with ESG ratings provided by rating agencies. The thesis provides a comprehensive view of how NLP can be used to develop indicators and tools that support the efficient extraction and analysis of sustainability-related data, providing valuable resources for ongoing research and policy-making in this area.
About the Link of Monetary Policy to Household Debt, Risk in the Financial System, and Inequality
(2019) Schmidt, Jörg Holger
Mortgage Debt and Time-Varying Monetary Policy TransmissionWe study the role of monetary policy for the dynamics of U.S. mortgage debt, which accounts for the largest part of household debt, between 1957Q1 and 2014Q3. A time-varying parameter VAR model allows us to study the variation in the mortgage debt sensitivity to monetary policy. We find that identically-sized policy shocks have lesser effects the more we move to the present. We use a DSGE model to show that a fall in the share of adjustable-rate mortgages (ARMs) could replicate this finding. Calibrating the model to the drop in the ARM share since the 1980s yields a drop in the sensitivity of housing debt to monetary policy that is quantitatively similar to the VAR results. A sacrifice ratio for mortgage debt reveals that a policy tightening directed towards reducing household debt became more expensive in terms of a loss in employment. Counterfactuals show that this result cannot be attributed to changes in monetary policy itself. The results are consistent with the mortgage rate conundrum´ found by Justiniano and have strong implications for policy.Unconventional Monetary Policy and Bank Risk-Taking in the Euro AreaThis paper studies risk-taking by European banks. After an overview of the banking landscape in the euro area, we construct a measure of risk-taking that relates changes in three-month-ahead expected credit standards for several non-financial private sector categories to the risk of the macroeconomic environment banks operate in. With this approach, we want to tackle the question if credit standards react disproportionately strong to changes in the monetary policy stance. We use an estimated bond-market-based measure to assess the overall riskiness prevailing in the economy. We want to shed some light on whether banks act excessively risky and provide new evidence as well as an alternative assessment on the amplifying nature of the risk-taking channel of monetary policy. We put our measure into a VAR model in which structural innovations are identified with sign restrictions. The key outcomes of this paper are the following. Expansionary monetary policy shocks decrease our measure of risk-taking. Decreases in our measure are caused by disproportionately strong reactions in credit standards compared to the overall macroeconomic risk, especially since the recent financial crisis. Disproportionately in the sense that our macroeconomic risk measure is less affected by expansionary monetary policy shocks than credit standards. The credit granting reaction depends on the category: In general, loans to non-financial corporations are less sensitive to monetary policy shocks while mortgages seem to be affected more. We conclude that expansionary monetary policy shifts the portfolio of banks to overall riskier asset holdings.Risk, Asset Pricing and Monetary Policy Transmission in Europe: Evidence from a Threshold-VAR ApproachThis paper investigates in how far monetary policy shocks impact European asset markets, conditional on different risk states. We distinguish between macroeconomic risk, political risk, and financial risk and separately extract three factors via principal component analysis from a set of candidate variables that are assumed to be driven by these latent types of risk. Next, these factors augment a threshold-vectorautoregressive model that contains assets and a short-rate. We illustrate that during periods of severe crisis, different risk regimes coincide. This impedes a clear delimitation among these three types of risk. Further on, impulse responses show that we indeed see state-dependency in the reaction of asset prices to monetary policy shocks. AA-rated corporate bond yields only show minor state-dependency if we distinguish between states of high and low macroeconomic or financial risk, but show very pronounced state-dependency for political risk. Their sensitivity to monetary policy shocks is highest if political risk is low. Non-investment-grade corporate bond yields as well as equity of industrial firms face the strongest state-dependency when we differentiate between macroeconomic or financial risk. If these risks are high, junk-bond yields are very sensitive to monetary policy shocks while the opposite holds for equity of industrial corporations. Interestingly, financial equity reacts positively or insignificant to hikes in short-rates. The positive reaction is most pronounced for states of high financial risk. Consequently, monetary policy transmission via distinct asset markets highly depends on the degree of these different kinds of risk inherent in European asset markets.fMoving Closer or Drifting Apart: Distributional Effects of Monetary PolicyThe heating debate about increasing income inequality forces monetary policy makers and academia to (re-)assess the nexus between (unconventional) monetary policy and inequality. We use a VAR framework to unveil the distributional effects of monetary policy and the role of redistribution in six advanced economies. While all of them experience an increase in Gini coefficients of gross income due to an expansionary monetary policy shock, only countries with relatively little redistribution display a significant response of net income inequality as well. To examine the underlying transmission channels we take a closer look at the sources of income, i.e. labor and capital income. Our findings suggest that the disproportional surge in capital income is the driving force behind the increase in net income inequality.
Academia in Transition: Empirical Evidence from Business Researchers
(2022) Fernandes, Mario
Academia has been subject to constant change in recent years. In particular, the introduction of market-based structures and the implementation of performance-based funding decisions, often summarized under the term ‘New Public Management’, have affected researchers in a variety of ways (Hicks 2012; Schmoch and Schubert 2010; Schubert 2009). This dissertation deals with transitions that have shaped the academic labor market. The focus here is, exemplarily, on business researchers in German-speaking countries. Based on a unique, hand-collected data set, four articles address changes that business researchers have faced during the past thirty years. The first article “Publication Behavior in Different Fields of Business Administration: From Anecdotal to Empirical Evidence” investigates into the publication behavior (e.g. regarding the focus on practitioner journals or the focus on particularly renowned journals) of business researchers who operate in different business administration fields such as accounting or finance. The analysis of such differences contains important implications regarding the allocation of funds in business administration faculties that are often based on the professors’ research output (Sieweke et al. 2014). The findings show significant differences in publication behavior across different business administration fields and highlight that especially accounting professors tend to publish differently when compared to their peers in other fields. Among other aspects, they publish more often in practitioner journals and less often in internationally renowned journals. The article discusses that these differences might lead to disadvantages concerning resource allocation within business administration faculties and, hence, should be considered when evaluating the research output of business researchers. The second article “The Times They Are a-Changin’: Profiling Newly Tenured Business Economics Professors in Germany over the Past Thirty Years” analyzes how profiles of newly tenured business researchers, who were exposed to reforms associated with New Public Management, have changed over time. The results reveal that business researchers have become more diverse (e.g. regarding their gender or the internationality of their education) and that their professional networks have increased significantly over time. Most importantly, however, the article shows that tenure requirements concerning publications in highly renowned international journals have changed as well, i.e. in order to obtain a tenured professorship today, more publications in highly renowned journals are necessary compared to thirty years ago. This article provides important practical implications, particularly for junior business researchers who strive to become a tenured professor. The third article “Closing the Gender Gap in Academia? Evidence from an Affirmative Action Program” investigates the causal effect of an affirmative action program, i.e. the so-called Professorinnenprogramm in Germany. This program intends to increase the fraction of newly tenured female professors in order to close the gender gap in the academic labor market (Löther 2019). The findings of this article reveal that this program was successful in German business administration faculties. More precisely, the article shows that the probability that a newly tenured professor is female increases at universities that participate in this program when compared to universities that do not participate. Furthermore, the article delves deeper into the mechanisms of the program and shows that the program has lowered the entry barrier regarding the publication records for new female professors while not impacting the publication records of new male professors. The fourth article “How do researchers react to changing incentives? Causal evidence from a journal ranking update” focuses on the incentive effect of journal rankings. Journal rankings become increasingly popular, for example, to objectify hiring decisions or to allocate funds within business administration faculties and thus publications in highly ranked journals are often referred to as “the currency” in academia (Aguinis et al. 2020; Osterloh and Frey 2020; Drivas and Kremmydas 2020). Despite a growing body of literature in this field, our knowledge on whether and how journal rankings actually affect researchers’ publication behavior is still limited. This article analyzes the response of business researchers located in the German-speaking countries to the update of the most prominent German business journal ranking and provides causal evidence that researchers actually respond to journal rankings by adjusting their publication behavior accordingly. Furthermore, the results indicate that especially younger researchers and those with stronger publication records respond more strongly. Hence, this article contains important implications for university managers and policy makers who intend to steer researchers’ publication behavior. Overall, this dissertation presents how the academic labor market in German-speaking countries in general, respectively the academic labor market for business researchers in particular has changed over time. The reforms associated with New Public Management have impacted academia in a variety of ways and this dissertation provides empirical – partly even causal – evidence how these reforms have changed the way research is conducted and how they have impacted hiring decisions of universities. As a result, this dissertation offers important insights for researchers, higher education managers, and policy makers going into the future.
The analysis of unconventional economic datasets
(2016) Lüdering, Jochen
The doctoral thesis at hand encompasses five research papers on three subject areas. Two manuscripts discuss the suitability of latency as measure for Internet quality across countries. The following two are concerned with the application of topic models and automatic classification of texts in an economic context, while the last paper suggests to combine social network analysis with survival analysis in order to estimate the impact of centrality on professional success.At first glance the three research areas are very different and have little in common in terms of content. While the study of Internet quality fits into the macro-development and growth literature, the two papers on topic models are only similar in terms of applied method but address questions on monetary policy and economic history respectively. Finally, the study on social networks and success belongs in the field of labor economics, sociology or business economics.At second sight one may realize that there are nonetheless some issues, which are common to the individual manuscripts: the datasets used in this analysis all consist of secondary data. This means that they were not originally intended to be used in economic analysis. Consequently, a lot of data preparation and cleaning was necessary before any econometric methods could be applied. As the data had not been used for this kind of research before, their economic analysis provides interesting new insights, which may not have been possible with conventional data. Further, the datasets stand out for their complexity and size. Which, along with fast-speed of change, are the classical criteria for Big Data. This made it necessary to carefully select methods and tools to work around the associated difficulties. The choice of the title "The Analysis of Unconventional Economic Datasets" shall emphasize the complexity and secondary nature of the data, the latter being a feature rather than a criterion of Big Data. Laney (2001) came up with three dimensions along which data might be big, which could also serve as criteria for a definition of Big Data. According to Laney (2001) the data can be changing fast, be large in size and/or of high complexity due to which the use of conventional tools and methods will be challenging. Based on the aforementioned criteria the manuscripts in this thesis deal with Big Data problems. However, I refrain from including Big Data in the dissertations title, as it has become a widely used buzzword, whose meaning has been diluted in the public perception. In addition, a comprehensive overview of Big Data applications in economics would be beyond the scope of this thesis.
Analyst reports and capital markets
(2013) Arand, Daniel
This thesis consists of three independent research papers empirically addressing several questions relating to sell-side financial analysts and their role on financial markets.The first paper analyzes the behavior of analysts in the light of conflicts of interest.The second paper determines to what extend the informativeness of analyst research from an investor´s point of view depends on the regulatory environment of the subject company as well as the regulatory background of the institutional investors of that company.The third paper examines how the 2008 financial crisis impacted sell-side analysts´ behavior and performance, as well as stock market reactions to analyst research.
Aufgabenträger oder Verkehrsunternehmen als Gesellschafter von Verkehrsverbünden? : eine Analyse bestehender Verbundstrukturen und eine Bewertung unterschiedlicher Organisationsmodelle unter institutionenökonomischen Gesichtspunkten
(2004) Knieps, Manfred
Verkehrsverbünde sind aus dem ÖPNV-Sektor heutzutage kaum mehr wegzudenken. Weite Teile des deutschen ÖPNV spielen sich inzwischen innerhalb von Verbundgebieten ab. In den letzten Jahren hat sich die Zahl der Verbünde, nicht zuletzt ausgelöst durch die Regionalisierung, sprunghaft erhöht, ihre Bedeutung ist dadurch stetig gewachsen. Den letztendlichen Erfolg oder Misserfolg eines Verkehrsverbundes exakt zu messen und zu beurteilen ist dabei ein äußerst schwieriges, wenn nicht gar völlig unmögliches Unterfangen. Dies liegt vor allem daran, dass sich zwischen den Organisationsmodellen der bestehenden Verbünde zum Teil erhebliche Unterschiede zeigen. Kaum ein Verbund gleicht dem anderen, es besteht vielmehr ein buntes Bild äußerst unterschiedlicher Verbundkonzepte. Die Gründe dafür liegen primär in den verschiedenen historischen Entwicklungen der Verbünde, den differierenden gesetzlichen Vorgaben sowie den unterschiedlichen politischen und verkehrlichen Gegebenheiten vor Ort. Die Verschiedenartigkeiten in den Organisationsmodellen der einzelnen Verbünde zu verdeutlichen ist eines der Hauptanliegen der Arbeit. Die Ausführungen sollen aber nicht auf eine reine Darstellung der bestehenden Verbundstrukturen beschränkt bleiben. Mit Hilfe von Elementen aus der Transaktionskostentheorie soll vielmehr auch untersucht werden, welche der drei unterschiedlichen Grundformen von Verbundmodellen - Unternehmens-, Misch- und Aufgabenträgerverbünde - unter welchen Bedingungen tendenziell mit den geringsten Transaktionskosten verbunden ist und damit unter volkswirtschaftlichen Gesichtspunkten am geeignetsten für die Abwicklung der Verbundaufgaben erscheint. Die Frage nach der aus transaktionskostentheoretischer Sicht effizientesten Verbundform bildet den zweiten Schwerpunkt der Untersuchung. In deren Rahmen wird zunächst die Entwicklung des Verbundwesens im deutschen ÖPNV dargestellt. Neben den Kooperationszielen und -motiven werden dabei die unterschiedlichen Zusammenarbeitsformen im ÖPNV erläutert, ein kurzer Abriss über die historische Entwicklung des Verbundwesens gegeben und auf dieser Grundlage dann eine Definition der Kooperationsform
Behavioral Accounting & Financial and Nonfinancial Disclosure
(2022) Schneider, Julia
This doctoral thesis includes four research papers in the field of behavioral accounting that analyze management accounting, corporate governance and compliance issues (Chapter A) and seven research papers in the area of financial and nonfinancial disclosure (Chapter B). In Chapter A, research papers A1 and A3 examine how different control instruments and influencing factors in the work environment affect the extent to which an employee behaves (non)compliant, which is a central issue in research and practice. In detail, paper A1 asks whether the presence and structure of corporate giving constrain employees’ excessive risk taking that was, for example, often cited as a root cause of the past global financial crisis. Contrary to widespread practice, our experimental evidence suggests that firms could constrain employees’ excessive risk taking by linking existing contributions to project rather than corporate performance. Yet, too much personal involvement in a firm’s prosocial initiatives causes excessive risk taking to rise again so that our paper highlights an inverted U-shape curve of effectiveness of getting employees involved. Paper A3 investigates whether control result transparency and detrimental effects on others can influence employees’ noncompliance, particularly misreporting, and shows that both factors work as substitutes, not as complements. Removing employees’ anonymity by notifying peers about the control result in a control procedure alleviates misreporting as long as there are no detrimental effects on others. However, once other individuals can suffer economic harm, control result transparency does not significantly reduce misreporting any further. Paper A3 thus covers a multi-hierarchical perspective and demonstrates that injunctive norms activated by the firm’s management decision to make control results transparent and injunctive norms activated by social preferences for peers’ welfare interact, and differentially influence misreporting. Both instruments are effective at crowding-in ethical considerations which were suppressed by the control procedure in an audit environment. With a view to the quest for transparency in the management of firms, paper A2 analyzes the informal control instrument of mutual monitoring, i.e., the observability of employees’ inputs (i.e., efforts, actions and work routines) and output (i.e., performance), in a multi-task environment. Consequently, mutual monitoring enables peer control by accessing richer, more accurate, more extensive, more disaggregated, and more real-time information on employees’ effort allocation between easier and more difficult tasks. The paper shows that mutual monitoring of inputs and outputs incites impression management and facades of proficiency prompting employees to prioritize easy tasks over difficult ones. Since observability also provides the basis for many widely accepted practices in total quality management implementations, the research also highlights the effect of the firm’s error culture. The research results indicate a moderation such that an open (versus a blame) error culture only without mutual monitoring significantly lowers easy task prioritization suggesting that privacy is important in supporting self-focused experimentation and distraction avoidance. These results should inspire managers to critically reflect on modern facilities that often provide nearperfect observability of the actions and performance of every employee by leveraging technological advancements (e.g., communication of real-time information) and open-workspace design. Additional to these papers, paper A4 also focuses on lower hierarchies, but refers to another employee behavior and examines the effect of donation rankings on employee performance. The study identifies an important motivational spillover effect: prosocial incentives can spill over to employees' motivation to increase performance. While it is not surprising that being ranked on the task at hand matters to how employees perform this task, it is surprising that systems on unrelated, prosocial activities like workplace giving also matter. Chapter B refers to research papers that rather focus on financial and nonfinancial disclosure topics at the management level or company level and therefore deal with questions on a company’s investor relations system. Against this background, paper B1 asks whether corporate social responsibility (CSR) reporting is an appropriate means of attracting young talents. In order to answer this research question empirically, the annual and nonfinancial reports of publicly listed German firms are processed and analyzed using computer-linguistic methods. While more pronounced CSR disclosures on the aggregate benefit a firm in increasing its attractiveness as a potential employer, the study also reveals that a strategic fit between financial and nonfinancial information may be important to credibly communicate the firm’s CSR endeavors and thereby to attract young talents. Paper B2 investigates the relation between different institutional and demographic characteristics and a firm’s Internet-based disclosure practices using a two-period panel approach. The focus is first and foremost on the novel technological features of investor communication enabling the investor to self-select targetspecific information and present information content in a user-friendly, timely and transparent way. More sophisticated and innovative investor communication practices tend to be associated with the presence of a Chief Information or Chief Sustainability Officer, lower management board turnover and an older (a younger) management board (Chief Executive Officer). Moreover, a Chief Digitalization Officer and a Digitalization committee tend to facilitate domain-specific innovative investor communication, e.g., concerning mobile applications or state-of-the-art share price information features on the firms’ investor relations website. Paper B3 examines the monetary valuation of environmental externalities on corporate level both normatively and empirically and proposes a valuation framework. While there are clear opportunities (e.g., the facilitation of comparisons between various impacts, the facilitation of communicating environmental externalities and the estimation of costs connected to potential internalizations), there are also central problems: possible ideological concerns of stakeholders as well as the subjectivity and uncertainty of the results. Overall, the controversial position of monetizing environmental externalities seems warranted. Paper B4 critically evaluates the recognition, measurement and disclosure requirements under IFRS 17. In particular, it discusses the new valuation model, the so-called building block approach which entails massive changes for the insurance industry. Paper B5 asks whether the women's quota creates transparency for investors by particularly considering the supervisory board committee level. Since the empirical findings reveal that firms provide very inhomogeneous and sometimes nontransparent and incomplete accounts of their objectives and the status quo of greater participation of women, the paper develops a "quota mirror". While paper B5 expressly addresses gender diversity, paper B6 likewise refers to a nonfinancial issue, but concentrates on sustainability reporting according to the standards of the Global Reporting Initiative and the Sustainability Accounting Standards Board covering the triple-bottom-line (economy, environment, society). Finally, paper B7 touches on both financial and nonfinancial issues by analyzing the remuneration transparency report according to §§ 21, 22 EntgTanspG. (Non-) collectively bargained firms can leverage the drafted template best practice as a guide for their next reporting season in 2021, or 2023 respectively, and remedy the disclosure deficiencies that have been apparent to date with regard to their measures to promote equality and achieve equal pay.
Besteuerung von Wohnimmobilien in Deutschland - kritische Analyse und Ansatzpunkte einer Reform
(2022) Caspari, Carolin
Die Wirkungen der beiden bedeutenden Immobiliensteuern - Grundsteuer und Grunderwerbsteuer - stehen durch die aktuellen Entwicklungen im Mittelpunkt der finanzwissenschaftlichen und politischen Diskussion. Die erforderliche Neuregelung der Grundsteuer anlässlich des Urteils des Bundesverfassungsgerichts und die wachsende Bedeutung der Grunderwerbsteuer durch den Anstieg der Steuersätze seit der Föderalismusreform II stellen umfangreiche Änderungen im Rahmen der Immobilienbesteuerung dar. Neben diesen beiden Steuern gehören zu den relevanten Steuerarten im Bereich der Immobilienbesteuerung noch die Einkommensteuer, die Erbschaftsteuer und die Zweitwohnungsteuer. Damit wird die Immobilie von insgesamt fünf Steuern erfasst, die ganz unterschiedliche Anknüpfungspunkte haben. Ziel dieser Arbeit ist die Vorstellung und Bewertung der auf die Wohnimmobilien im Privatvermögen zugreifenden Steuerarten und ihre Stellung bzw. Verzahnung im deutschen Steuersystem. Auf Basis dieser Erkenntnisse werden abschließend mögliche Reformansätze formuliert.
Die Bilanzierung latenter Steuern nach IAS 12 : eine Untersuchung der Wertrelevanz latenter Steuern im IFRS-Konzernabschluss deutscher börsennotierter Unternehmen
(2013) Meyer, Henning Dieter
Die Bilanzierung latenter Steuern gehört zu den komplexesten Sachverhalten in der internationalen Rechnungslegung. Ihre Komplexität geht einher mit dem Aufwand, der mit ihrer Bilanzierung verbunden ist. Dieser Aufwand könnte dann gerechtfertigt sein, wenn der Bilanzierung latenter Steuern auch ein entsprechender Nutzen gegenüber steht. Dies dürfte vor allem dann der Fall sein, wenn latente Steuern den Adressaten der Rechnungslegung (insbesondere Kapitalmarktteilnehmern) relevante Informationen liefern. Empirische Untersuchungen deuten zum überwiegenden Teil darauf hin, dass latente Steuern kapitalmarktrelevant sind. Allerdings basieren diese Untersuchungen zum weit überwiegenden Teil auf anglo-amerikanischen Daten und es ist unklar, ob diese Befunde auf andere Länder übertragbar sind. Zielsetzung der vorliegenden Arbeit ist daher die Untersuchung der Kapitalmarktrelevanz latenter Steuern nach IAS 12 für deutsche Unternehmen aus den vier Top-Indizes der Frankfurter Wertpapierbörse (DAX, MDAX, SDAX, TecDAX). Methodisch kommt der Ansatz sog. Value Relevance Studies zur Anwendung, der auf die statistische Assoziation zwischen Unternehmenswert und bestimmten Rechnungslegungsinformationen (hier: latente Steuern) abstellt. Die empirischen Ergebnisse der vorliegenden Untersuchung deuten darauf hin, dass latente Steuern in einem nachweisbaren Zusammenhang mit dem Unternehmenswert stehen: aktive latente Steuern stehen grundsätzlich in einem positiven und passive latente Steuern sowie Steueraufwendungen stehen in einem negativen Zusammenhang mit dem Unternehmenswert. Diese Ergebnisse stehen grundsätzlich im Einklang mit der bestehenden empirischen Evidenz. Dies gilt jedoch nicht für aktive latente Steuern auf steuerliche Verlustvorträge, die anders als die übrigen aktiven latenten Steuern in einem signifikant negativen Zusammenhang mit dem Unternehmenswert stehen. Dies widerspricht der Auffassung des IAS 12, der aktivierte steuerliche Verlustvorträge als Vermögenswert betrachtet, und steht im Widerspruch zur anglo-amerikanischen Evidenz. Dieser statistisch signifikante Zusammenhang findet sich auch in einer Stichprobe britischer Unternehmen aus dem FTSE All Share, die für Vergleichszwecke aufgebaut wurde ( matched sample ). Weitere Untersuchungen sowohl für die deutsche als auch die britische Stichprobe deuten darauf hin, dass der Zusammenhang zwischen Unternehmenswert und aktivierten steuerlichen Verlustvorträgen vor allem für solche Unternehmen negativ ist, für welche die Wahrscheinlichkeit, in Zukunft Gewinne zu erwirtschaften, mit denen die Verlustvorträge verrechnet werden können, nach Wahrnehmung des Kapitalmarkts geringer ist. Dies dürfte dafür sprechen, dass die Aktivierung steuerlicher Verlustvorträge bei diesen Unternehmen vom Kapitalmarkt als bilanzpolitisch motiviert betrachtet und dementsprechend durch einen Preisabschlag sanktioniert wird.
Cognitive Traits and Entrepreneurial Pursuits in the Digital Age: A Multi-Layered Perspective
(2023) Schade, Philipp
This doctoral thesis examines cognitive traits and entrepreneurial pursuits in the digital age. Through three empirical studies, this cumulative dissertation takes a multi-layered perspective to fathom context and agent-centric mechanisms that operate within and between different hierarchical levels and influence (corporate) entrepreneurial pursuits in the digital age. Drawing upon a data-driven machine learning approach, multilevel modeling, and longitudinal analysis, this thesis contributes towards a comprehensive and fine-grained understanding of the phenomenon of entrepreneurship in the digital age. The interdisciplinary and multi-layered perspective of this doctoral thesis offers important implications for theory and practice, as well as methodological advancements.
Corporate Venture Capital in the Digital Age
(2022) Ademi, Petrit
This doctoral thesis examines the phenomenon of corporate venture capital (CVC) in the digital age. Through three empirical studies, this thesis analyzes the integration, evaluation, and instigation activities of CVC investors under the consideration of the peculiarities that characterize the digital age. Drawing upon qualitative research, a conjoint experiment, and a longitudinal approach, this thesis derives important implications for theory and practice related to CVC investing, (corporate) entrepreneurial decision-making, the role of affordances for inter-organizational partnerships, and the characteristics of digital technologies for entrepreneurial activities.
Customer Integration in Innovation Development: Illuminating Different Design Aspects
(2021-05-11) Hanker, Anna-Lena
The aim of integrating customers into innovation development is to create innovations for improved market acceptance as customer integration enables a better understanding of customer needs, which strengthens a firm’s competitive advantage in the respective market. This dissertation provides an up-to-date overview of customer integration in innovation development and reveals existing research gaps with corresponding future research questions. Additionally, some of the most prominent research gaps regarding different customer integration design aspects in innovation development are addressed. Consequently, this dissertation advances theoretical and practical perspectives on customer integration in innovation development as an important facet of external knowledge integration within the open innovation paradigm.
Digitale Innovation in der Hochschullehre – Integration von Electronic Pair Learning in eine deutsche Präsenz-Hochschule
(2024) Schick, Lukas
Die Dissertation untersucht die Entwicklung und Integration von Electronic Pair Learning (EPL) in die Hochschullehre an deutschen Präsenz-Hochschulen. Vor dem Hintergrund der wachsenden Bedeutung individualisierten Lernens und der zunehmenden Nutzung digitaler Technologien zielt die Arbeit darauf ab, traditionelle Lehrmethoden durch EPL zu ergänzen. EPL ermöglicht ortsunabhängiges und lerntypgerechtes kollaboratives Arbeiten mit digitalen Werkzeugen. Durch die Analyse und Anpassung didaktischer Modelle wird eine optimale Implementierung von EPL in die Hochschullehre angestrebt. Die Dissertation zeigt, dass EPL die Flexibilität und Interaktivität des Lernens erhöht und gleichzeitig auf die individuellen Bedürfnisse der Studierenden eingeht. Um die Vorteile von EPL voll ausschöpfen zu können, ist unter anderem die Auswahl und Implementierung geeigneter technischer Systeme entscheidend.
Digitale Innovation in der Hochschullehre: Integration von E-Learning in einen Fachbereich einer deutschen Präsenz-Universität
(2022) Schramm, Laura Christina
Digitale Innovation in der Hochschullehre. Integration von E-Learning in einen Fachbereich einer deutschen Präsenz-Universität
Digitale Innovation in der Hochschullehre: Multi-Channel-Distribution von E-Learning-Produkten
(2024) Dörr, Lea
Die fortschreitende Digitalisierung verändert Wirtschaft, Politik und Gesellschaft tiefgreifend. Dabei trifft eine Generation, die erst im Laufe ihres Lebens mit dem Internet vertraut wurde (Digital Immigrants), auf eine jüngere, die mit Technologie aufgewachsen ist (Digital Natives). Diese unterschiedlichen Erfahrungswelten führen zu einem „Digital Gap“ in Verhalten und Umgang mit Technologie. Dieser Gap zeigt sich auch in der Hochschullehre: Digital Natives bevorzugen immer häufiger mehrdimensionale und multimediale Informationsquellen in der Hochschullehre. Um den Bedürfnissen der Studierenden gerecht zu werden und die Wettbewerbsfähigkeit der Hochschulen zu sichern, sind innovative Lehrmethoden erforderlich. Die vorliegende Arbeit entwickelt und beschreibt als Lösungsansatz dafür einen sogenannten Multi-Channel-Ansatz (MCA), bei dem Lehrinhalte über verschiedene Kanäle und Endgeräte an die Studierenden verteilt werden. Der MCA wird systematisch in ein exemplarisches Bachelor-Modul eines modellhaften Studiengangs integriert und entspricht dabei den aktuellen technologischen Gegebenheiten.
Econometric Modelling of Energy & Financial Markets
(2019) Lips, Johannes
This dissertation consists of two parts with different themes, the first part is made up of three articles in the broad category of empirical energy economics. The first paper in this category analyses the impact of changes in the prices of fossil fuels on the electricity prices. The following two articles are closely related and empirically analyse the North American oil industry to see if the financial decisions and conditions of the firms and the oil industry are affected by oil price changes. The final article provides a literature review prepared for the handbook "Corruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation. with an accompanying data analysis on the detection of financial fraud and manipulations using Benford s law.
The effects of procedures on decision making : experimental evidence
(2009) Mertins, Vanessa
There is substantial empirical evidence and increasing recognition that not only outcomes, but also the procedures leading to them, can affect people' s utility from, and their reactions to, those decisions. However, there is still a large gap between numerous studies by non-economists (e.g., psychologists, sociologists, political scientists, and legal scholars) and the fact that economists began to investigate the role of procedures only recently. Thus, there is still an important research agenda to be developed by economists. The dissertation contributes to this by investigating the underlying question how people react to otherwise identical decisions which came about by different procedures. Behavioral and experimental economics may serve as an important link. Its aim is to integrate the insights of cognitive and social psychologists, as well as those of experimental economists, with neoclassical economic theory. The dissertation is divided into two parts. The first part explores the relevance of procedures for social interaction whereas the main focus is put on recent experimental and theoretical findings in the social sciences (chapter 2). Besides, it discusses two methodological questions: First, do players decisions depend on the preference elicitation method, and second, does the approach of classifying people according to player types assist to a better understanding of behavior in experimental games (chapter 3). The second part introduces three new economic experiments for the research into procedural aspects (chapter 4-6). The objective is to analyze possible effects of (a) procedural fairness judgments, (b) procedural satisfaction, and (c) participation opportunities. Clear experimental evidence suggests that people not only value outcomes, but also the way that led to them. Thus, the dissertation contributes to a better understanding of human decision-making.
Essays in Behavioral Analytics Using Data Science and Machine Learning
(2023) Gerstel, Hannes
The dissertation includes five papers on the subject of behavioral analytics. The first two experimental studies examine the impact of debiasing tools on escalation of commitment. The third study uses econometric tools to examine the interplay between director incentives, director decisions and firm outcomes. The fourth study examines the effect of corporate cultural distance on mergers and acquisitions using transformer-based natural language processing. The fifth study examines whether machine learning can improve the accuracy of revenue forecasts.
Essays in Corporate Finance and Corporate Governance: The Changing Environment for Mergers and Acquisitions
(2021) Henrich, Gerrit
Essays in Corporate Finance and Corporate Governance: The Changing Environment for Mergers and Acquisitions
Essays in Empirical Finance
(2021-01-29) Becker, Michel
We study several research questions regarding mobile banking on a customer as well as on a banks management perspective. By this, we document that customers to retrieve information about their financial situation more often after adopting mobile banking. In addition, we document that the higher transparency about the financial situation is associated with improved financial decision-making of mobile banking users. Concretely, we find mobile banking adopters to suffer less from high-interest overdraft debt. Additionally, mobile banking adopters reduce overdraft interest and fees by reducing consumption spending, increase credit card utilization and transfer liquidity from savings accounts in times of overdraft. Finally, we show that those mobile-banking adopters, who formerly did not use the online banking service of the bank, benefit from mobile banking adoption the strongest. With respect to the research aspects on a banks management perspective, we examine drivers of mobile banking adoption as well as resulting changes in client’s banking behavior. We find that customer’s financial demands and digital skills correlate positively whereas age is associated negatively to mobile banking adoption. We document a strong increase in online banking transactions after mobile banking adoption, while ATM, call center and branch transactions get substituted. Furthermore, mobile banking adopters perform more digital money transfers and cashless payments while they reduce offline money transfers and cash payments. Finally, adopters acquire more products and active mobile banking users increase their loyalty with the bank distinctly.

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Auflistung Dissertationen/Habilitationen nach Auflistung nach Fachbereich/Einrichtung "FB 02 - Wirtschaftswissenschaften"

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