[{"department":[{"_id":"635"},{"_id":"186"},{"_id":"551"}],"type":"conference","date_created":"2023-01-17T13:52:28Z","extern":"1","citation":{"mla":"Kosi, Urska, et al. <i>Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?</i> 2013.","bibtex":"@inproceedings{Kosi_Florou_Pope_2013, title={Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?}, author={Kosi, Urska and Florou, Annita and Pope, Peter F. }, year={2013} }","ama":"Kosi U, Florou A, Pope PF. Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information? In: ; 2013.","ieee":"U. Kosi, A. Florou, and P. F. Pope, “Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?,” presented at the 9th Workshop on European Financial Reporting, Valencia, Spain, 2013.","apa":"Kosi, U., Florou, A., &#38; Pope, P. F. (2013). <i>Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?</i> 9th Workshop on European Financial Reporting, Valencia, Spain.","short":"U. Kosi, A. Florou, P.F. Pope, in: 2013.","chicago":"Kosi, Urska, Annita Florou, and Peter F.  Pope. “Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?,” 2013."},"user_id":"88603","language":[{"iso":"eng"}],"_id":"37115","date_updated":"2023-01-17T13:52:33Z","conference":{"end_date":"2013-09-06","name":"9th Workshop on European Financial Reporting","start_date":"2013-09-05","location":"Valencia, Spain"},"author":[{"full_name":"Kosi, Urska","last_name":"Kosi","first_name":"Urska","id":"54068"},{"last_name":"Florou","first_name":"Annita","full_name":"Florou, Annita"},{"first_name":"Peter F. ","last_name":"Pope","full_name":"Pope, Peter F. "}],"status":"public","year":"2013","title":"Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?"},{"abstract":[{"text":"Private firms are likely to use the financial reporting process more for other objectives, such as tax savings, than for communicating performance. However, observing firms choosing accounting policies for tax-minimisation purposes is not straightforward due to (i) tax and non-tax costs of reporting lower income (ii) accounting policies that result in lower reported income and no tax savings but generate non-tax benefits (iii) preparers' multiple incentives and (iv) econometric issues. We observe a large sample of 20,505 private firms writing off assets in two separate regimes, one that generates tax savings and one that does not. Firms significantly decrease, but continue to use, write-offs after the adverse change in tax treatment of write-offs. The exogenous tax change should not affect other reporting incentives. This allows us to disentangle the tax-minimisation incentive from other (un-observable) incentives, including debt contracting, dividends and employee relations that contribute to the observed anomalous positive relationship between write-offs and profitability. We show that for private firms (i) obtaining tax savings is important overall (ii) non-tax costs and benefits are probably also important and (iii) earnings informativeness for future cash flows increases after the adverse tax legislation change.","lang":"eng"}],"extern":"1","publication":"European Accounting Review","issue":"1","department":[{"_id":"551"},{"_id":"186"},{"_id":"635"}],"type":"journal_article","date_created":"2018-07-12T08:20:29Z","intvolume":"        22","date_updated":"2023-01-24T15:33:44Z","publication_status":"published","author":[{"full_name":"Kosi, Urska","last_name":"Kosi","first_name":"Urska","id":"54068"},{"last_name":"Valentincic","first_name":"Aljosa","full_name":"Valentincic, Aljosa"}],"title":"Write-offs and profitability in private firms: Disentangling the impact of tax-minimisation incentives","year":"2013","doi":"10.1080/09638180.2012.661938","language":[{"iso":"eng"}],"citation":{"apa":"Kosi, U., &#38; Valentincic, A. (2013). Write-offs and profitability in private firms: Disentangling the impact of tax-minimisation incentives. <i>European Accounting Review</i>, <i>22</i>(1), 117–150. <a href=\"https://doi.org/10.1080/09638180.2012.661938\">https://doi.org/10.1080/09638180.2012.661938</a>","ieee":"U. Kosi and A. Valentincic, “Write-offs and profitability in private firms: Disentangling the impact of tax-minimisation incentives,” <i>European Accounting Review</i>, vol. 22, no. 1, pp. 117–150, 2013, doi: <a href=\"https://doi.org/10.1080/09638180.2012.661938\">10.1080/09638180.2012.661938</a>.","short":"U. Kosi, A. Valentincic, European Accounting Review 22 (2013) 117–150.","chicago":"Kosi, Urska, and Aljosa Valentincic. “Write-Offs and Profitability in Private Firms: Disentangling the Impact of Tax-Minimisation Incentives.” <i>European Accounting Review</i> 22, no. 1 (2013): 117–50. <a href=\"https://doi.org/10.1080/09638180.2012.661938\">https://doi.org/10.1080/09638180.2012.661938</a>.","mla":"Kosi, Urska, and Aljosa Valentincic. “Write-Offs and Profitability in Private Firms: Disentangling the Impact of Tax-Minimisation Incentives.” <i>European Accounting Review</i>, vol. 22, no. 1, 2013, pp. 117–50, doi:<a href=\"https://doi.org/10.1080/09638180.2012.661938\">10.1080/09638180.2012.661938</a>.","ama":"Kosi U, Valentincic A. Write-offs and profitability in private firms: Disentangling the impact of tax-minimisation incentives. <i>European Accounting Review</i>. 2013;22(1):117-150. doi:<a href=\"https://doi.org/10.1080/09638180.2012.661938\">10.1080/09638180.2012.661938</a>","bibtex":"@article{Kosi_Valentincic_2013, title={Write-offs and profitability in private firms: Disentangling the impact of tax-minimisation incentives}, volume={22}, DOI={<a href=\"https://doi.org/10.1080/09638180.2012.661938\">10.1080/09638180.2012.661938</a>}, number={1}, journal={European Accounting Review}, author={Kosi, Urska and Valentincic, Aljosa}, year={2013}, pages={117–150} }"},"status":"public","volume":22,"user_id":"54068","_id":"3549","page":"117-150"},{"status":"public","title":"Does mandatory IFRS adoption facilitate debt financing? ","year":"2013","conference":{"start_date":"2013-01-07","name":"FACTS-Forschungswerkstatt","location":"Berlin, Germany"},"author":[{"full_name":"Florou, Annita","first_name":"Annita","last_name":"Florou"},{"id":"54068","full_name":"Kosi, Urska","last_name":"Kosi","first_name":"Urska"}],"date_updated":"2023-01-24T15:34:43Z","_id":"37110","language":[{"iso":"eng"}],"user_id":"54068","citation":{"chicago":"Florou, Annita, and Urska Kosi. “Does Mandatory IFRS Adoption Facilitate Debt Financing? ,” 2013.","short":"A. Florou, U. Kosi, in: 2013.","apa":"Florou, A., &#38; Kosi, U. (2013). <i>Does mandatory IFRS adoption facilitate debt financing? </i>. FACTS-Forschungswerkstatt, Berlin, Germany.","ieee":"A. Florou and U. Kosi, “Does mandatory IFRS adoption facilitate debt financing? ,” presented at the FACTS-Forschungswerkstatt, Berlin, Germany, 2013.","ama":"Florou A, Kosi U. Does mandatory IFRS adoption facilitate debt financing? . In: ; 2013.","bibtex":"@inproceedings{Florou_Kosi_2013, title={Does mandatory IFRS adoption facilitate debt financing? }, author={Florou, Annita and Kosi, Urska}, year={2013} }","mla":"Florou, Annita, and Urska Kosi. <i>Does Mandatory IFRS Adoption Facilitate Debt Financing? </i>. 2013."},"extern":"1","date_created":"2023-01-17T13:28:19Z","type":"conference","department":[{"_id":"635"},{"_id":"186"},{"_id":"551"}]},{"language":[{"iso":"eng"}],"doi":"10.1080/09638180.2012.682781","author":[{"full_name":"Niemann, Rainer","last_name":"Niemann","first_name":"Rainer"},{"id":"530","full_name":"Sureth-Sloane, Caren","first_name":"Caren","orcid":" 0000-0002-8183-5901","last_name":"Sureth-Sloane"}],"publication_identifier":{"issn":["0963-8180","1468-4497"]},"year":"2013","title":"Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility","intvolume":"        22","date_updated":"2023-01-31T12:13:03Z","publication_status":"published","date_created":"2018-10-30T13:53:32Z","department":[{"_id":"187"},{"_id":"635"}],"type":"journal_article","publication":"European Accounting Review","issue":"2","_id":"5045","publisher":"Informa UK Limited","page":"367-390","volume":22,"user_id":"21222","status":"public","citation":{"mla":"Niemann, Rainer, and Caren Sureth-Sloane. “Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility.” <i>European Accounting Review</i>, vol. 22, no. 2, Informa UK Limited, 2013, pp. 367–90, doi:<a href=\"https://doi.org/10.1080/09638180.2012.682781\">10.1080/09638180.2012.682781</a>.","apa":"Niemann, R., &#38; Sureth-Sloane, C. (2013). Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility. <i>European Accounting Review</i>, <i>22</i>(2), 367–390. <a href=\"https://doi.org/10.1080/09638180.2012.682781\">https://doi.org/10.1080/09638180.2012.682781</a>","ieee":"R. Niemann and C. Sureth-Sloane, “Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility,” <i>European Accounting Review</i>, vol. 22, no. 2, pp. 367–390, 2013, doi: <a href=\"https://doi.org/10.1080/09638180.2012.682781\">10.1080/09638180.2012.682781</a>.","short":"R. Niemann, C. Sureth-Sloane, European Accounting Review 22 (2013) 367–390.","ama":"Niemann R, Sureth-Sloane C. Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility. <i>European Accounting Review</i>. 2013;22(2):367-390. doi:<a href=\"https://doi.org/10.1080/09638180.2012.682781\">10.1080/09638180.2012.682781</a>","chicago":"Niemann, Rainer, and Caren Sureth-Sloane. “Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility.” <i>European Accounting Review</i> 22, no. 2 (2013): 367–90. <a href=\"https://doi.org/10.1080/09638180.2012.682781\">https://doi.org/10.1080/09638180.2012.682781</a>.","bibtex":"@article{Niemann_Sureth-Sloane_2013, title={Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility}, volume={22}, DOI={<a href=\"https://doi.org/10.1080/09638180.2012.682781\">10.1080/09638180.2012.682781</a>}, number={2}, journal={European Accounting Review}, publisher={Informa UK Limited}, author={Niemann, Rainer and Sureth-Sloane, Caren}, year={2013}, pages={367–390} }"},"quality_controlled":"1"},{"date_updated":"2023-01-31T12:13:21Z","intvolume":"        90","year":"2013","status":"public","title":"Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung","author":[{"first_name":"Pia","last_name":"Vollert","full_name":"Vollert, Pia"},{"full_name":"Eikel, Carolin","last_name":"Eikel","first_name":"Carolin"},{"first_name":"Caren","orcid":" 0000-0002-8183-5901","last_name":"Sureth-Sloane","full_name":"Sureth-Sloane, Caren","id":"530"}],"user_id":"21222","volume":90,"page":"367-379","language":[{"iso":"ger"}],"_id":"5048","quality_controlled":"1","publication":"Steuer und Wirtschaft","issue":"4","citation":{"bibtex":"@article{Vollert_Eikel_Sureth-Sloane_2013, title={Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung}, volume={90}, number={4}, journal={Steuer und Wirtschaft}, author={Vollert, Pia and Eikel, Carolin and Sureth-Sloane, Caren}, year={2013}, pages={367–379} }","short":"P. Vollert, C. Eikel, C. Sureth-Sloane, Steuer und Wirtschaft 90 (2013) 367–379.","ama":"Vollert P, Eikel C, Sureth-Sloane C. Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung. <i>Steuer und Wirtschaft</i>. 2013;90(4):367-379.","chicago":"Vollert, Pia, Carolin Eikel, and Caren Sureth-Sloane. “Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung.” <i>Steuer und Wirtschaft</i> 90, no. 4 (2013): 367–79.","ieee":"P. Vollert, C. Eikel, and C. Sureth-Sloane, “Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung,” <i>Steuer und Wirtschaft</i>, vol. 90, no. 4, pp. 367–379, 2013.","mla":"Vollert, Pia, et al. “Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung.” <i>Steuer und Wirtschaft</i>, vol. 90, no. 4, 2013, pp. 367–79.","apa":"Vollert, P., Eikel, C., &#38; Sureth-Sloane, C. (2013). Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung. <i>Steuer und Wirtschaft</i>, <i>90</i>(4), 367–379."},"type":"journal_article","department":[{"_id":"187"},{"_id":"635"}],"date_created":"2018-10-30T13:58:31Z"},{"language":[{"iso":"eng"}],"_id":"46697","user_id":"49063","year":"2013","title":"Threat and normative appeals to reduce product returns in online retailing – An effective marketing practice?","status":"public","conference":{"location":"Istanbul","name":"42nd EMAC Annual Conference"},"author":[{"full_name":"Garnefeld, I.","first_name":"I.","last_name":"Garnefeld"},{"id":"3043","first_name":"Eva","orcid":"0000-0001-6053-1012","last_name":"Münkhoff","full_name":"Münkhoff, Eva"},{"full_name":"Raum, K.","first_name":"K.","last_name":"Raum"}],"date_updated":"2023-08-25T10:03:46Z","publication_status":"published","date_created":"2023-08-25T09:25:17Z","type":"conference","department":[{"_id":"785"}],"publication":"42nd EMAC Annual Conference, Istanbul","citation":{"bibtex":"@inproceedings{Garnefeld_Münkhoff_Raum_2013, title={Threat and normative appeals to reduce product returns in online retailing – An effective marketing practice?}, booktitle={42nd EMAC Annual Conference, Istanbul}, author={Garnefeld, I. and Münkhoff, Eva and Raum, K.}, year={2013} }","ama":"Garnefeld I, Münkhoff E, Raum K. Threat and normative appeals to reduce product returns in online retailing – An effective marketing practice? In: <i>42nd EMAC Annual Conference, Istanbul</i>. ; 2013.","mla":"Garnefeld, I., et al. “Threat and Normative Appeals to Reduce Product Returns in Online Retailing – An Effective Marketing Practice?” <i>42nd EMAC Annual Conference, Istanbul</i>, 2013.","short":"I. Garnefeld, E. Münkhoff, K. Raum, in: 42nd EMAC Annual Conference, Istanbul, 2013.","chicago":"Garnefeld, I., Eva Münkhoff, and K. Raum. “Threat and Normative Appeals to Reduce Product Returns in Online Retailing – An Effective Marketing Practice?” In <i>42nd EMAC Annual Conference, Istanbul</i>, 2013.","ieee":"I. Garnefeld, E. Münkhoff, and K. Raum, “Threat and normative appeals to reduce product returns in online retailing – An effective marketing practice?,” presented at the 42nd EMAC Annual Conference, Istanbul, 2013.","apa":"Garnefeld, I., Münkhoff, E., &#38; Raum, K. (2013). Threat and normative appeals to reduce product returns in online retailing – An effective marketing practice? <i>42nd EMAC Annual Conference, Istanbul</i>. 42nd EMAC Annual Conference, Istanbul."}},{"_id":"46696","language":[{"iso":"eng"}],"user_id":"49063","author":[{"id":"3043","orcid":"0000-0001-6053-1012","first_name":"Eva","last_name":"Münkhoff","full_name":"Münkhoff, Eva"},{"full_name":"Garnefeld, I.","last_name":"Garnefeld","first_name":"I."},{"full_name":"Bruns, A.","last_name":"Bruns","first_name":"A."}],"conference":{"name":"42nd EMAC Annual Conference","location":"Istanbul"},"title":"How to prolong a sales promotion – Ex-post time extension versus reframing","year":"2013","status":"public","publication_status":"published","date_updated":"2023-08-25T10:03:52Z","date_created":"2023-08-25T09:24:06Z","department":[{"_id":"785"}],"type":"conference","citation":{"apa":"Münkhoff, E., Garnefeld, I., &#38; Bruns, A. (2013). How to prolong a sales promotion – Ex-post time extension versus reframing. <i>42nd EMAC Annual Conference, Istanbul</i>. 42nd EMAC Annual Conference, Istanbul.","ieee":"E. Münkhoff, I. Garnefeld, and A. Bruns, “How to prolong a sales promotion – Ex-post time extension versus reframing,” presented at the 42nd EMAC Annual Conference, Istanbul, 2013.","chicago":"Münkhoff, Eva, I. Garnefeld, and A. Bruns. “How to Prolong a Sales Promotion – Ex-Post Time Extension versus Reframing.” In <i>42nd EMAC Annual Conference, Istanbul</i>, 2013.","short":"E. Münkhoff, I. Garnefeld, A. Bruns, in: 42nd EMAC Annual Conference, Istanbul, 2013.","mla":"Münkhoff, Eva, et al. “How to Prolong a Sales Promotion – Ex-Post Time Extension versus Reframing.” <i>42nd EMAC Annual Conference, Istanbul</i>, 2013.","ama":"Münkhoff E, Garnefeld I, Bruns A. How to prolong a sales promotion – Ex-post time extension versus reframing. In: <i>42nd EMAC Annual Conference, Istanbul</i>. ; 2013.","bibtex":"@inproceedings{Münkhoff_Garnefeld_Bruns_2013, title={How to prolong a sales promotion – Ex-post time extension versus reframing}, booktitle={42nd EMAC Annual Conference, Istanbul}, author={Münkhoff, Eva and Garnefeld, I. and Bruns, A.}, year={2013} }"},"publication":"42nd EMAC Annual Conference, Istanbul"},{"author":[{"full_name":"Münkhoff, Eva","first_name":"Eva","last_name":"Münkhoff","orcid":"0000-0001-6053-1012","id":"3043"}],"publication_identifier":{"isbn":["9783658021214","9783658021221"]},"year":"2013","status":"public","title":"Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen","publication_status":"published","date_updated":"2023-09-01T10:06:58Z","_id":"46643","publisher":"Springer Gabler","language":[{"iso":"ger"}],"alternative_title":["Eine latente Wachstumskurvenanalyse"],"user_id":"49063","doi":"10.1007/978-3-658-02122-1","citation":{"mla":"Münkhoff, Eva. <i>Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen</i>. Springer Gabler, 2013, doi:<a href=\"https://doi.org/10.1007/978-3-658-02122-1\">10.1007/978-3-658-02122-1</a>.","bibtex":"@book{Münkhoff_2013, place={Wiesbaden}, title={Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen}, DOI={<a href=\"https://doi.org/10.1007/978-3-658-02122-1\">10.1007/978-3-658-02122-1</a>}, publisher={Springer Gabler}, author={Münkhoff, Eva}, year={2013} }","ama":"Münkhoff E. <i>Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen</i>. Springer Gabler; 2013. doi:<a href=\"https://doi.org/10.1007/978-3-658-02122-1\">10.1007/978-3-658-02122-1</a>","ieee":"E. Münkhoff, <i>Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen</i>. Wiesbaden: Springer Gabler, 2013.","apa":"Münkhoff, E. (2013). <i>Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen</i>. Springer Gabler. <a href=\"https://doi.org/10.1007/978-3-658-02122-1\">https://doi.org/10.1007/978-3-658-02122-1</a>","chicago":"Münkhoff, Eva. <i>Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen</i>. Wiesbaden: Springer Gabler, 2013. <a href=\"https://doi.org/10.1007/978-3-658-02122-1\">https://doi.org/10.1007/978-3-658-02122-1</a>.","short":"E. Münkhoff, Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen, Springer Gabler, Wiesbaden, 2013."},"date_created":"2023-08-22T15:34:19Z","place":"Wiesbaden","department":[{"_id":"785"}],"type":"book"},{"year":"2013","title":"How do the unemployed search for a job? – Evidence from the EU Labour Force Survey","publication_identifier":{"issn":["2193-9012"]},"author":[{"first_name":"Ronald","last_name":"Bachmann","full_name":"Bachmann, Ronald"},{"first_name":"Daniel","last_name":"Baumgarten","full_name":"Baumgarten, Daniel","id":"102770"}],"date_updated":"2024-10-01T14:09:37Z","publication_status":"published","intvolume":"         2","article_number":"22","language":[{"iso":"eng"}],"doi":"10.1186/2193-9012-2-22","publication":"IZA Journal of European Labor Studies","issue":"1","extern":"1","date_created":"2024-10-01T14:07:43Z","type":"journal_article","department":[{"_id":"892"}],"status":"public","publisher":"Springer Science and Business Media LLC","_id":"56304","user_id":"102261","volume":2,"citation":{"ama":"Bachmann R, Baumgarten D. How do the unemployed search for a job? – Evidence from the EU Labour Force Survey. <i>IZA Journal of European Labor Studies</i>. 2013;2(1). doi:<a href=\"https://doi.org/10.1186/2193-9012-2-22\">10.1186/2193-9012-2-22</a>","bibtex":"@article{Bachmann_Baumgarten_2013, title={How do the unemployed search for a job? – Evidence from the EU Labour Force Survey}, volume={2}, DOI={<a href=\"https://doi.org/10.1186/2193-9012-2-22\">10.1186/2193-9012-2-22</a>}, number={122}, journal={IZA Journal of European Labor Studies}, publisher={Springer Science and Business Media LLC}, author={Bachmann, Ronald and Baumgarten, Daniel}, year={2013} }","mla":"Bachmann, Ronald, and Daniel Baumgarten. “How Do the Unemployed Search for a Job? – Evidence from the EU Labour Force Survey.” <i>IZA Journal of European Labor Studies</i>, vol. 2, no. 1, 22, Springer Science and Business Media LLC, 2013, doi:<a href=\"https://doi.org/10.1186/2193-9012-2-22\">10.1186/2193-9012-2-22</a>.","chicago":"Bachmann, Ronald, and Daniel Baumgarten. “How Do the Unemployed Search for a Job? – Evidence from the EU Labour Force Survey.” <i>IZA Journal of European Labor Studies</i> 2, no. 1 (2013). <a href=\"https://doi.org/10.1186/2193-9012-2-22\">https://doi.org/10.1186/2193-9012-2-22</a>.","short":"R. Bachmann, D. Baumgarten, IZA Journal of European Labor Studies 2 (2013).","apa":"Bachmann, R., &#38; Baumgarten, D. (2013). How do the unemployed search for a job? – Evidence from the EU Labour Force Survey. <i>IZA Journal of European Labor Studies</i>, <i>2</i>(1), Article 22. <a href=\"https://doi.org/10.1186/2193-9012-2-22\">https://doi.org/10.1186/2193-9012-2-22</a>","ieee":"R. Bachmann and D. Baumgarten, “How do the unemployed search for a job? – Evidence from the EU Labour Force Survey,” <i>IZA Journal of European Labor Studies</i>, vol. 2, no. 1, Art. no. 22, 2013, doi: <a href=\"https://doi.org/10.1186/2193-9012-2-22\">10.1186/2193-9012-2-22</a>."}},{"intvolume":"        90","date_updated":"2024-10-01T14:14:13Z","publication_status":"published","author":[{"first_name":"Daniel","last_name":"Baumgarten","full_name":"Baumgarten, Daniel","id":"102770"}],"publication_identifier":{"issn":["0022-1996"]},"year":"2013","title":"Exporters and the rise in wage inequality: Evidence from German linked employer–employee data","doi":"10.1016/j.jinteco.2012.10.001","language":[{"iso":"eng"}],"extern":"1","publication":"Journal of International Economics","issue":"1","department":[{"_id":"892"}],"type":"journal_article","date_created":"2024-10-01T14:12:49Z","status":"public","volume":90,"user_id":"102261","_id":"56306","publisher":"Elsevier BV","page":"201-217","citation":{"short":"D. Baumgarten, Journal of International Economics 90 (2013) 201–217.","chicago":"Baumgarten, Daniel. “Exporters and the Rise in Wage Inequality: Evidence from German Linked Employer–Employee Data.” <i>Journal of International Economics</i> 90, no. 1 (2013): 201–17. <a href=\"https://doi.org/10.1016/j.jinteco.2012.10.001\">https://doi.org/10.1016/j.jinteco.2012.10.001</a>.","ieee":"D. Baumgarten, “Exporters and the rise in wage inequality: Evidence from German linked employer–employee data,” <i>Journal of International Economics</i>, vol. 90, no. 1, pp. 201–217, 2013, doi: <a href=\"https://doi.org/10.1016/j.jinteco.2012.10.001\">10.1016/j.jinteco.2012.10.001</a>.","apa":"Baumgarten, D. (2013). Exporters and the rise in wage inequality: Evidence from German linked employer–employee data. <i>Journal of International Economics</i>, <i>90</i>(1), 201–217. <a href=\"https://doi.org/10.1016/j.jinteco.2012.10.001\">https://doi.org/10.1016/j.jinteco.2012.10.001</a>","bibtex":"@article{Baumgarten_2013, title={Exporters and the rise in wage inequality: Evidence from German linked employer–employee data}, volume={90}, DOI={<a href=\"https://doi.org/10.1016/j.jinteco.2012.10.001\">10.1016/j.jinteco.2012.10.001</a>}, number={1}, journal={Journal of International Economics}, publisher={Elsevier BV}, author={Baumgarten, Daniel}, year={2013}, pages={201–217} }","ama":"Baumgarten D. Exporters and the rise in wage inequality: Evidence from German linked employer–employee data. <i>Journal of International Economics</i>. 2013;90(1):201-217. doi:<a href=\"https://doi.org/10.1016/j.jinteco.2012.10.001\">10.1016/j.jinteco.2012.10.001</a>","mla":"Baumgarten, Daniel. “Exporters and the Rise in Wage Inequality: Evidence from German Linked Employer–Employee Data.” <i>Journal of International Economics</i>, vol. 90, no. 1, Elsevier BV, 2013, pp. 201–17, doi:<a href=\"https://doi.org/10.1016/j.jinteco.2012.10.001\">10.1016/j.jinteco.2012.10.001</a>."}},{"department":[{"_id":"892"}],"type":"journal_article","date_created":"2024-10-01T14:10:44Z","extern":"1","publication":"European Economic Review","doi":"10.1016/j.euroecorev.2013.03.007","language":[{"iso":"eng"}],"intvolume":"        61","publication_status":"published","date_updated":"2024-10-01T14:12:18Z","publication_identifier":{"issn":["0014-2921"]},"author":[{"id":"102770","last_name":"Baumgarten","first_name":"Daniel","full_name":"Baumgarten, Daniel"},{"last_name":"Geishecker","first_name":"Ingo","full_name":"Geishecker, Ingo"},{"first_name":"Holger","last_name":"Görg","full_name":"Görg, Holger"}],"title":"Offshoring, tasks, and the skill-wage pattern","year":"2013","citation":{"short":"D. Baumgarten, I. Geishecker, H. Görg, European Economic Review 61 (2013) 132–152.","chicago":"Baumgarten, Daniel, Ingo Geishecker, and Holger Görg. “Offshoring, Tasks, and the Skill-Wage Pattern.” <i>European Economic Review</i> 61 (2013): 132–52. <a href=\"https://doi.org/10.1016/j.euroecorev.2013.03.007\">https://doi.org/10.1016/j.euroecorev.2013.03.007</a>.","ieee":"D. Baumgarten, I. Geishecker, and H. Görg, “Offshoring, tasks, and the skill-wage pattern,” <i>European Economic Review</i>, vol. 61, pp. 132–152, 2013, doi: <a href=\"https://doi.org/10.1016/j.euroecorev.2013.03.007\">10.1016/j.euroecorev.2013.03.007</a>.","apa":"Baumgarten, D., Geishecker, I., &#38; Görg, H. (2013). Offshoring, tasks, and the skill-wage pattern. <i>European Economic Review</i>, <i>61</i>, 132–152. <a href=\"https://doi.org/10.1016/j.euroecorev.2013.03.007\">https://doi.org/10.1016/j.euroecorev.2013.03.007</a>","bibtex":"@article{Baumgarten_Geishecker_Görg_2013, title={Offshoring, tasks, and the skill-wage pattern}, volume={61}, DOI={<a href=\"https://doi.org/10.1016/j.euroecorev.2013.03.007\">10.1016/j.euroecorev.2013.03.007</a>}, journal={European Economic Review}, publisher={Elsevier BV}, author={Baumgarten, Daniel and Geishecker, Ingo and Görg, Holger}, year={2013}, pages={132–152} }","ama":"Baumgarten D, Geishecker I, Görg H. Offshoring, tasks, and the skill-wage pattern. <i>European Economic Review</i>. 2013;61:132-152. doi:<a href=\"https://doi.org/10.1016/j.euroecorev.2013.03.007\">10.1016/j.euroecorev.2013.03.007</a>","mla":"Baumgarten, Daniel, et al. “Offshoring, Tasks, and the Skill-Wage Pattern.” <i>European Economic Review</i>, vol. 61, Elsevier BV, 2013, pp. 132–52, doi:<a href=\"https://doi.org/10.1016/j.euroecorev.2013.03.007\">10.1016/j.euroecorev.2013.03.007</a>."},"volume":61,"user_id":"102261","_id":"56305","publisher":"Elsevier BV","page":"132-152","status":"public"},{"author":[{"full_name":"Kundisch, Dennis","last_name":"Kundisch","first_name":"Dennis","id":"21117"},{"full_name":"Magenheim, Johannes","last_name":"Magenheim","first_name":"Johannes"},{"last_name":"Beutner","first_name":"Marc","full_name":"Beutner, Marc"},{"last_name":"Herrmann","first_name":"Philipp","full_name":"Herrmann, Philipp"},{"full_name":"Reinhardt, W.","first_name":"W.","last_name":"Reinhardt"},{"full_name":"Zoyke, A.","first_name":"A.","last_name":"Zoyke"}],"year":"2013","title":"Classroom Response Systems","status":"public","intvolume":"        36","date_updated":"2025-01-16T13:03:59Z","publication_status":"published","language":[{"iso":"eng"}],"_id":"2654","page":"389-393","volume":36,"user_id":"16205","citation":{"chicago":"Kundisch, Dennis, Johannes Magenheim, Marc Beutner, Philipp Herrmann, W. Reinhardt, and A. Zoyke. “Classroom Response Systems.” <i>Informatik-Spektrum</i> 36, no. 4 (2013): 389–93.","ama":"Kundisch D, Magenheim J, Beutner M, Herrmann P, Reinhardt W, Zoyke A. Classroom Response Systems. <i>Informatik-Spektrum</i>. 2013;36(4):389-393.","short":"D. Kundisch, J. Magenheim, M. Beutner, P. Herrmann, W. Reinhardt, A. Zoyke, Informatik-Spektrum 36 (2013) 389–393.","bibtex":"@article{Kundisch_Magenheim_Beutner_Herrmann_Reinhardt_Zoyke_2013, title={Classroom Response Systems}, volume={36}, number={4}, journal={Informatik-Spektrum}, author={Kundisch, Dennis and Magenheim, Johannes and Beutner, Marc and Herrmann, Philipp and Reinhardt, W. and Zoyke, A.}, year={2013}, pages={389–393} }","apa":"Kundisch, D., Magenheim, J., Beutner, M., Herrmann, P., Reinhardt, W., &#38; Zoyke, A. (2013). Classroom Response Systems. <i>Informatik-Spektrum</i>, <i>36</i>(4), 389–393.","mla":"Kundisch, Dennis, et al. “Classroom Response Systems.” <i>Informatik-Spektrum</i>, vol. 36, no. 4, 2013, pp. 389–93.","ieee":"D. Kundisch, J. Magenheim, M. Beutner, P. Herrmann, W. Reinhardt, and A. Zoyke, “Classroom Response Systems,” <i>Informatik-Spektrum</i>, vol. 36, no. 4, pp. 389–393, 2013."},"publication":"Informatik-Spektrum","issue":"4","date_created":"2018-05-04T09:16:17Z","department":[{"_id":"276"},{"_id":"210"}],"type":"journal_article"},{"issue":"2","publication":"Journal of Business Economics","date_created":"2024-11-25T09:25:33Z","department":[{"_id":"681"}],"type":"journal_article","author":[{"first_name":"Philip","last_name":"Yang","full_name":"Yang, Philip","id":"100432"},{"full_name":"Janssen, Simon","first_name":"Simon","last_name":"Janssen"},{"last_name":"Pfeifer","first_name":"Christian","full_name":"Pfeifer, Christian"},{"full_name":"Backes-Gellner, Uschi","last_name":"Backes-Gellner","first_name":"Uschi"}],"publication_identifier":{"issn":["0044-2372","1861-8928"]},"year":"2013","title":"Careers and productivity in an internal labor market","intvolume":"        83","date_updated":"2025-04-09T13:20:08Z","publication_status":"published","language":[{"iso":"eng"}],"doi":"10.1007/s11573-012-0649-x","citation":{"bibtex":"@article{Yang_Janssen_Pfeifer_Backes-Gellner_2013, title={Careers and productivity in an internal labor market}, volume={83}, DOI={<a href=\"https://doi.org/10.1007/s11573-012-0649-x\">10.1007/s11573-012-0649-x</a>}, number={2}, journal={Journal of Business Economics}, publisher={Springer Science and Business Media LLC}, author={Yang, Philip and Janssen, Simon and Pfeifer, Christian and Backes-Gellner, Uschi}, year={2013}, pages={121–143} }","ama":"Yang P, Janssen S, Pfeifer C, Backes-Gellner U. Careers and productivity in an internal labor market. <i>Journal of Business Economics</i>. 2013;83(2):121-143. doi:<a href=\"https://doi.org/10.1007/s11573-012-0649-x\">10.1007/s11573-012-0649-x</a>","mla":"Yang, Philip, et al. “Careers and Productivity in an Internal Labor Market.” <i>Journal of Business Economics</i>, vol. 83, no. 2, Springer Science and Business Media LLC, 2013, pp. 121–43, doi:<a href=\"https://doi.org/10.1007/s11573-012-0649-x\">10.1007/s11573-012-0649-x</a>.","short":"P. Yang, S. Janssen, C. Pfeifer, U. Backes-Gellner, Journal of Business Economics 83 (2013) 121–143.","chicago":"Yang, Philip, Simon Janssen, Christian Pfeifer, and Uschi Backes-Gellner. “Careers and Productivity in an Internal Labor Market.” <i>Journal of Business Economics</i> 83, no. 2 (2013): 121–43. <a href=\"https://doi.org/10.1007/s11573-012-0649-x\">https://doi.org/10.1007/s11573-012-0649-x</a>.","ieee":"P. Yang, S. Janssen, C. Pfeifer, and U. Backes-Gellner, “Careers and productivity in an internal labor market,” <i>Journal of Business Economics</i>, vol. 83, no. 2, pp. 121–143, 2013, doi: <a href=\"https://doi.org/10.1007/s11573-012-0649-x\">10.1007/s11573-012-0649-x</a>.","apa":"Yang, P., Janssen, S., Pfeifer, C., &#38; Backes-Gellner, U. (2013). Careers and productivity in an internal labor market. <i>Journal of Business Economics</i>, <i>83</i>(2), 121–143. <a href=\"https://doi.org/10.1007/s11573-012-0649-x\">https://doi.org/10.1007/s11573-012-0649-x</a>"},"status":"public","_id":"57400","publisher":"Springer Science and Business Media LLC","page":"121-143","volume":83,"user_id":"80877"},{"quality_controlled":"1","citation":{"ama":"Sievers S, Mokwa CF, Keienburg G. The relevance of financial versus non-financial information for the valuation of venture capital-backed firms. <i>European Accounting Review (VHB-JOURQUAL 4 Ranking A)</i>. 2013;22(3):467-511. doi:<a href=\"https://doi.org/10.1080/09638180.2012.741051\">10.1080/09638180.2012.741051</a>","bibtex":"@article{Sievers_Mokwa_Keienburg_2013, title={The relevance of financial versus non-financial information for the valuation of venture capital-backed firms}, volume={22}, DOI={<a href=\"https://doi.org/10.1080/09638180.2012.741051\">10.1080/09638180.2012.741051</a>}, number={3}, journal={European Accounting Review (VHB-JOURQUAL 4 Ranking A)}, publisher={Taylor \\&#38; Francis}, author={Sievers, Sönke and Mokwa, Christopher F and Keienburg, Georg}, year={2013}, pages={467–511} }","mla":"Sievers, Sönke, et al. “The Relevance of Financial versus Non-Financial Information for the Valuation of Venture Capital-Backed Firms.” <i>European Accounting Review (VHB-JOURQUAL 4 Ranking A)</i>, vol. 22, no. 3, Taylor \\&#38; Francis, 2013, pp. 467–511, doi:<a href=\"https://doi.org/10.1080/09638180.2012.741051\">10.1080/09638180.2012.741051</a>.","short":"S. Sievers, C.F. Mokwa, G. Keienburg, European Accounting Review (VHB-JOURQUAL 4 Ranking A) 22 (2013) 467–511.","chicago":"Sievers, Sönke, Christopher F Mokwa, and Georg Keienburg. “The Relevance of Financial versus Non-Financial Information for the Valuation of Venture Capital-Backed Firms.” <i>European Accounting Review (VHB-JOURQUAL 4 Ranking A)</i> 22, no. 3 (2013): 467–511. <a href=\"https://doi.org/10.1080/09638180.2012.741051\">https://doi.org/10.1080/09638180.2012.741051</a>.","apa":"Sievers, S., Mokwa, C. F., &#38; Keienburg, G. (2013). The relevance of financial versus non-financial information for the valuation of venture capital-backed firms. <i>European Accounting Review (VHB-JOURQUAL 4 Ranking A)</i>, <i>22</i>(3), 467–511. <a href=\"https://doi.org/10.1080/09638180.2012.741051\">https://doi.org/10.1080/09638180.2012.741051</a>","ieee":"S. Sievers, C. F. Mokwa, and G. Keienburg, “The relevance of financial versus non-financial information for the valuation of venture capital-backed firms,” <i>European Accounting Review (VHB-JOURQUAL 4 Ranking A)</i>, vol. 22, no. 3, pp. 467–511, 2013, doi: <a href=\"https://doi.org/10.1080/09638180.2012.741051\">10.1080/09638180.2012.741051</a>."},"status":"public","jel":["G24","G32","M41"],"user_id":"115848","volume":22,"page":"467-511","publisher":"Taylor \\& Francis","_id":"5191","abstract":[{"text":"This study examines the relevance of financial and non-financial information for the valuation of venture capital (VC) investments. Based on a hand-collected data set on venture-backed start-ups in Germany, we investigate the internal due diligence documents of over 200 investment rounds. We document that balance sheet and income statement items capture as much economic content as verifiable non-financial information (e.g. team experience or the number of patents) while controlling for several deal characteristics (e.g. industry, investment round, or yearly VC fund inflows). In addition, we show that valuations based on accounting and non-accounting information yield a level of valuation accuracy that is comparable to that of publicly traded firms. Further analyses show that the industry-specific total asset multiples outperform the popular revenue multiples but lead to significantly less accurate results than those obtained from the more comprehensive valuation models. Overall, our findings might inform researchers and standard-setters of the usefulness of accounting information for investment companies and provide additional evidence to gauge the overall valuation accuracy in VC settings.","lang":"eng"}],"related_material":{"link":[{"url":"http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1449740","relation":"earlier_version"}]},"extern":"1","publication":"European Accounting Review (VHB-JOURQUAL 4 Ranking A)","issue":"3","keyword":["value relevance","equity valuation","venture capital","human capital","start-ups"],"type":"journal_article","department":[{"_id":"275"}],"date_created":"2018-10-31T11:27:42Z","date_updated":"2026-04-09T07:59:17Z","publication_status":"published","intvolume":"        22","article_type":"original","title":"The relevance of financial versus non-financial information for the valuation of venture capital-backed firms","year":"2013","author":[{"id":"46447","first_name":"Sönke","last_name":"Sievers","full_name":"Sievers, Sönke"},{"full_name":"Mokwa, Christopher F","last_name":"Mokwa","first_name":"Christopher F"},{"full_name":"Keienburg, Georg","last_name":"Keienburg","first_name":"Georg"}],"doi":"10.1080/09638180.2012.741051","main_file_link":[{"url":"http://www.tandfonline.com/doi/full/10.1080/09638180.2012.741051"}],"language":[{"iso":"eng"}]},{"citation":{"bibtex":"@article{Klobucnik_Sievers_2013, title={Valuing high technology growth firms}, volume={83}, DOI={<a href=\"https://doi.org/10.1007/s11573-013-0684-2\">https://doi.org/10.1007/s11573-013-0684-2</a>}, number={9}, journal={Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)}, publisher={Springer}, author={Klobucnik, Jan and Sievers, Sönke}, year={2013}, pages={947–984} }","ama":"Klobucnik J, Sievers S. Valuing high technology growth firms. <i>Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)</i>. 2013;83(9):947-984. doi:<a href=\"https://doi.org/10.1007/s11573-013-0684-2\">https://doi.org/10.1007/s11573-013-0684-2</a>","mla":"Klobucnik, Jan, and Sönke Sievers. “Valuing High Technology Growth Firms.” <i>Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)</i>, vol. 83, no. 9, Springer, 2013, pp. 947–84, doi:<a href=\"https://doi.org/10.1007/s11573-013-0684-2\">https://doi.org/10.1007/s11573-013-0684-2</a>.","chicago":"Klobucnik, Jan, and Sönke Sievers. “Valuing High Technology Growth Firms.” <i>Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)</i> 83, no. 9 (2013): 947–84. <a href=\"https://doi.org/10.1007/s11573-013-0684-2\">https://doi.org/10.1007/s11573-013-0684-2</a>.","short":"J. Klobucnik, S. Sievers, Journal of Business Economics (VHB-JOURQUAL 4 Ranking B) 83 (2013) 947–984.","ieee":"J. Klobucnik and S. Sievers, “Valuing high technology growth firms,” <i>Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)</i>, vol. 83, no. 9, pp. 947–984, 2013, doi: <a href=\"https://doi.org/10.1007/s11573-013-0684-2\">https://doi.org/10.1007/s11573-013-0684-2</a>.","apa":"Klobucnik, J., &#38; Sievers, S. (2013). Valuing high technology growth firms. <i>Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)</i>, <i>83</i>(9), 947–984. <a href=\"https://doi.org/10.1007/s11573-013-0684-2\">https://doi.org/10.1007/s11573-013-0684-2</a>"},"quality_controlled":"1","_id":"5192","publisher":"Springer","page":"947-984","volume":83,"user_id":"115848","jel":["G11","G12","G17","G33"],"status":"public","date_created":"2018-10-31T11:31:56Z","department":[{"_id":"275"}],"keyword":["Schwartz-Moon model","Market mispricing","Empirical test","Company valuation","Trading strategy"],"type":"journal_article","issue":"9","publication":"Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)","abstract":[{"lang":"eng","text":"For the valuation of fast growing innovative firms Schwartz and Moon (Financ Anal J 56:62–75, 2000), (Financ Rev 36:7–26, 2001) develop a fundamental valuation model where key parameters follow stochastic processes. While prior research shows promising potential for this model, it has never been tested on a large scale dataset. Thus, guided by economic theory, this paper is the first to design a large-scale applicable implementation on around 30,000 technology firm quarter observations from 1992 to 2009 for the US to assess this model. Evaluating the feasibility and performance of the Schwartz-Moon model reveals that it is comparably accurate to the traditional sales multiple with key advantages in valuing small and non-listed firms. Most importantly, however, the model is able to indicate severe market over- or undervaluation from a fundamental perspective. We demonstrate that a trading strategy based on our implementation has significant investment value. Consequently, the model seems suitable for detecting misvaluations as the dot-com bubble."}],"extern":"1","language":[{"iso":"eng"}],"main_file_link":[{"url":"https://link.springer.com/article/10.1007/s11573-013-0684-2"}],"doi":"https://doi.org/10.1007/s11573-013-0684-2","author":[{"last_name":"Klobucnik","first_name":"Jan","full_name":"Klobucnik, Jan"},{"id":"46447","full_name":"Sievers, Sönke","last_name":"Sievers","first_name":"Sönke"}],"title":"Valuing high technology growth firms","year":"2013","intvolume":"        83","article_type":"original","date_updated":"2026-04-09T08:00:16Z","publication_status":"published"},{"volume":30,"user_id":"115848","_id":"5113","publisher":"Wiley Online Library","page":"42-79","jel":["G12","G14","M41"],"status":"public","quality_controlled":"1","citation":{"ama":"Heinrichs N, Hess D, Homburg C, Lorenz M, Sievers S. Extended dividend, cash flow, and residual income valuation models: Accounting for deviations from ideal conditions. <i>Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)</i>. 2013;30(1):42-79. doi:<a href=\"https://doi.org/10.2139/ssrn.1145201\">10.2139/ssrn.1145201</a>","bibtex":"@article{Heinrichs_Hess_Homburg_Lorenz_Sievers_2013, title={Extended dividend, cash flow, and residual income valuation models: Accounting for deviations from ideal conditions}, volume={30}, DOI={<a href=\"https://doi.org/10.2139/ssrn.1145201\">10.2139/ssrn.1145201</a>}, number={1}, journal={Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)}, publisher={Wiley Online Library}, author={Heinrichs, Nicolas and Hess, Dieter and Homburg, Carsten and Lorenz, Michael and Sievers, Sönke}, year={2013}, pages={42–79} }","mla":"Heinrichs, Nicolas, et al. “Extended Dividend, Cash Flow, and Residual Income Valuation Models: Accounting for Deviations from Ideal Conditions.” <i>Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)</i>, vol. 30, no. 1, Wiley Online Library, 2013, pp. 42–79, doi:<a href=\"https://doi.org/10.2139/ssrn.1145201\">10.2139/ssrn.1145201</a>.","short":"N. Heinrichs, D. Hess, C. Homburg, M. Lorenz, S. Sievers, Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+) 30 (2013) 42–79.","chicago":"Heinrichs, Nicolas, Dieter Hess, Carsten Homburg, Michael Lorenz, and Sönke Sievers. “Extended Dividend, Cash Flow, and Residual Income Valuation Models: Accounting for Deviations from Ideal Conditions.” <i>Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)</i> 30, no. 1 (2013): 42–79. <a href=\"https://doi.org/10.2139/ssrn.1145201\">https://doi.org/10.2139/ssrn.1145201</a>.","apa":"Heinrichs, N., Hess, D., Homburg, C., Lorenz, M., &#38; Sievers, S. (2013). Extended dividend, cash flow, and residual income valuation models: Accounting for deviations from ideal conditions. <i>Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)</i>, <i>30</i>(1), 42–79. <a href=\"https://doi.org/10.2139/ssrn.1145201\">https://doi.org/10.2139/ssrn.1145201</a>","ieee":"N. Heinrichs, D. Hess, C. Homburg, M. Lorenz, and S. Sievers, “Extended dividend, cash flow, and residual income valuation models: Accounting for deviations from ideal conditions,” <i>Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)</i>, vol. 30, no. 1, pp. 42–79, 2013, doi: <a href=\"https://doi.org/10.2139/ssrn.1145201\">10.2139/ssrn.1145201</a>."},"doi":"10.2139/ssrn.1145201","language":[{"iso":"eng"}],"main_file_link":[{"url":"http://onlinelibrary.wiley.com/doi/10.1111/j.1911-3846.2011.01148.x/abstract"}],"intvolume":"        30","article_type":"original","date_updated":"2026-04-09T08:22:32Z","publication_status":"published","author":[{"first_name":"Nicolas","last_name":"Heinrichs","full_name":"Heinrichs, Nicolas"},{"last_name":"Hess","first_name":"Dieter","full_name":"Hess, Dieter"},{"first_name":"Carsten","last_name":"Homburg","full_name":"Homburg, Carsten"},{"full_name":"Lorenz, Michael","first_name":"Michael","last_name":"Lorenz"},{"id":"46447","first_name":"Sönke","last_name":"Sievers","full_name":"Sievers, Sönke"}],"year":"2013","title":"Extended dividend, cash flow, and residual income valuation models: Accounting for deviations from ideal conditions","department":[{"_id":"275"}],"type":"journal_article","keyword":["Dividend Discount Model","Residual Income","Discounted Cash Flow","Dirty Surplus","Terminal Value","Valuation Error"],"date_created":"2018-10-31T07:58:17Z","related_material":{"link":[{"relation":"earlier_version","url":"http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1145201"}]},"abstract":[{"text":"Standard equity valuation approaches (i.e., DDM, RIM, and DCF model) are derived under the assumption of ideal conditions, such as infinite payoffs and clean surplus accounting. Because these conditions are hardly ever met, we extend the standard approaches, based on the fundamental principle of financial statement articulation. The extended models are then tested empirically by employing two sets of forecasts: (1) analyst forecasts provided by Value Line and (2) forecasts generated by cross-sectional regression models. The main result is that our extended models yield considerably smaller valuation errors. Moreover, by construction, identical value estimates are obtained across the extended models. By reestablishing empirical equivalence under non-ideal conditions, our approach provides a benchmark that enables us to quantify the errors resulting from individual deviations from ideal conditions, and thus, to analyze the robustness of the standard approaches. Finally, by providing a level playing field for the different valuation approaches, our findings have implications for other empirical settings, for example, estimating the implied cost of capital. ","lang":"eng"}],"extern":"1","issue":"1","publication":"Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)"},{"abstract":[{"text":"This article examines and extends research on the relation between the capital asset pricing model market beta, accounting risk measures and macroeconomic risk factors. We employ a beta decomposition approach that nests competing models with different business risk proxies and allows to frame cross-model comparison. Because model tests require estimated independent variables resulting in measurement error, we empirically estimate three comparable model specifications with instrumental variable estimators and for the first time provide thorough instrument diagnostics in this setting. Correcting for the heretofore neglected weak instruments problem we find that growth risk (i.e., the risk of firm sales variations that are inconsistent with the market wide trends), is the business risk that explains cross-sectional variations in market beta best.","lang":"eng"}],"extern":"1","publication":"Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)","issue":"3","department":[{"_id":"275"}],"type":"journal_article","keyword":["CAPM","Cost of capital","Accounting beta","Intrinsic business risk","Growth risk","Instrumental variables"],"date_created":"2021-01-05T09:28:36Z","article_type":"original","date_updated":"2026-04-09T08:02:58Z","publication_status":"published","publication_identifier":{"issn":["0924-865X","1573-7179"]},"author":[{"full_name":"Schlueter, Tobias","first_name":"Tobias","last_name":"Schlueter"},{"id":"46447","full_name":"Sievers, Sönke","last_name":"Sievers","first_name":"Sönke"}],"year":"2013","title":"Determinants of market beta: the impacts of firm-specific accounting figures and market conditions","doi":"10.1007/s11156-013-0352-1","language":[{"iso":"eng"}],"main_file_link":[{"url":"https://link.springer.com/article/10.1007/s11156-013-0352-1"}],"quality_controlled":"1","citation":{"ama":"Schlueter T, Sievers S. Determinants of market beta: the impacts of firm-specific accounting figures and market conditions. <i>Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)</i>. 2013;(3):535-570. doi:<a href=\"https://doi.org/10.1007/s11156-013-0352-1\">10.1007/s11156-013-0352-1</a>","bibtex":"@article{Schlueter_Sievers_2013, title={Determinants of market beta: the impacts of firm-specific accounting figures and market conditions}, DOI={<a href=\"https://doi.org/10.1007/s11156-013-0352-1\">10.1007/s11156-013-0352-1</a>}, number={3}, journal={Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)}, author={Schlueter, Tobias and Sievers, Sönke}, year={2013}, pages={535–570} }","mla":"Schlueter, Tobias, and Sönke Sievers. “Determinants of Market Beta: The Impacts of Firm-Specific Accounting Figures and Market Conditions.” <i>Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)</i>, no. 3, 2013, pp. 535–70, doi:<a href=\"https://doi.org/10.1007/s11156-013-0352-1\">10.1007/s11156-013-0352-1</a>.","short":"T. Schlueter, S. Sievers, Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B) (2013) 535–570.","chicago":"Schlueter, Tobias, and Sönke Sievers. “Determinants of Market Beta: The Impacts of Firm-Specific Accounting Figures and Market Conditions.” <i>Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)</i>, no. 3 (2013): 535–70. <a href=\"https://doi.org/10.1007/s11156-013-0352-1\">https://doi.org/10.1007/s11156-013-0352-1</a>.","apa":"Schlueter, T., &#38; Sievers, S. (2013). Determinants of market beta: the impacts of firm-specific accounting figures and market conditions. <i>Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)</i>, <i>3</i>, 535–570. <a href=\"https://doi.org/10.1007/s11156-013-0352-1\">https://doi.org/10.1007/s11156-013-0352-1</a>","ieee":"T. Schlueter and S. Sievers, “Determinants of market beta: the impacts of firm-specific accounting figures and market conditions,” <i>Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B)</i>, no. 3, pp. 535–570, 2013, doi: <a href=\"https://doi.org/10.1007/s11156-013-0352-1\">10.1007/s11156-013-0352-1</a>."},"jel":["C36","G11","G12"],"status":"public","user_id":"115848","_id":"20863","page":"535-570"},{"publication":"Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)","issue":"11","abstract":[{"text":"This study integrates the government in the context of company valuation. Our framework allows to analyze and to quantify the risk-sharing effects and conflicts of interest between the government and the shareholders when firms follow different financial policies. We provide novel evidence that firms with fixed future levels of debt might invest more than socially desirable. Economically, this happens if the gain in tax-shields is big enough to outweigh the loss in the unlevered firm value. Our findings have implications for the practice of investment subsidy programs provided by the government to avoid fostering investments beyond the socially optimal level. ","lang":"eng"}],"extern":"1","date_created":"2018-10-31T07:50:58Z","department":[{"_id":"275"}],"type":"journal_article","keyword":["corporate tax claim","company valuation","optimal investment","cost of capital"],"author":[{"last_name":"Kreutzmann","first_name":"Daniel","full_name":"Kreutzmann, Daniel"},{"id":"46447","full_name":"Sievers, Sönke","first_name":"Sönke","last_name":"Sievers"},{"full_name":"Mueller, Christian","last_name":"Mueller","first_name":"Christian"}],"title":"Investment distortions and the value of the government's tax claim","year":"2013","intvolume":"        23","article_type":"original","date_updated":"2026-04-09T08:04:59Z","publication_status":"published","language":[{"iso":"eng"}],"main_file_link":[{"url":"https://www.tandfonline.com/doi/full/10.1080/09603107.2013.786161#.VE5YmBZwmAd"}],"doi":"10.1080/09603107.2013.786161","citation":{"mla":"Kreutzmann, Daniel, et al. “Investment Distortions and the Value of the Government’s Tax Claim.” <i>Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)</i>, vol. 23, no. 11, Taylor \\&#38; Francis, 2013, pp. 977–89, doi:<a href=\"https://doi.org/10.1080/09603107.2013.786161\">10.1080/09603107.2013.786161</a>.","ama":"Kreutzmann D, Sievers S, Mueller C. Investment distortions and the value of the government’s tax claim. <i>Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)</i>. 2013;23(11):977-989. doi:<a href=\"https://doi.org/10.1080/09603107.2013.786161\">10.1080/09603107.2013.786161</a>","bibtex":"@article{Kreutzmann_Sievers_Mueller_2013, title={Investment distortions and the value of the government’s tax claim}, volume={23}, DOI={<a href=\"https://doi.org/10.1080/09603107.2013.786161\">10.1080/09603107.2013.786161</a>}, number={11}, journal={Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)}, publisher={Taylor \\&#38; Francis}, author={Kreutzmann, Daniel and Sievers, Sönke and Mueller, Christian}, year={2013}, pages={977–989} }","apa":"Kreutzmann, D., Sievers, S., &#38; Mueller, C. (2013). Investment distortions and the value of the government’s tax claim. <i>Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)</i>, <i>23</i>(11), 977–989. <a href=\"https://doi.org/10.1080/09603107.2013.786161\">https://doi.org/10.1080/09603107.2013.786161</a>","ieee":"D. Kreutzmann, S. Sievers, and C. Mueller, “Investment distortions and the value of the government’s tax claim,” <i>Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)</i>, vol. 23, no. 11, pp. 977–989, 2013, doi: <a href=\"https://doi.org/10.1080/09603107.2013.786161\">10.1080/09603107.2013.786161</a>.","short":"D. Kreutzmann, S. Sievers, C. Mueller, Applied Financial Economics (VHB-JOURQUAL 4 Ranking C) 23 (2013) 977–989.","chicago":"Kreutzmann, Daniel, Sönke Sievers, and Christian Mueller. “Investment Distortions and the Value of the Government’s Tax Claim.” <i>Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)</i> 23, no. 11 (2013): 977–89. <a href=\"https://doi.org/10.1080/09603107.2013.786161\">https://doi.org/10.1080/09603107.2013.786161</a>."},"jel":["G31","G32","H21","H25"],"status":"public","publisher":"Taylor \\& Francis","_id":"5108","page":"977-989","volume":23,"user_id":"115848"},{"has_accepted_license":"1","status":"public","volume":22,"ddc":["040"],"user_id":"65453","_id":"2519","publisher":"Springer Nature","page":"657-680","project":[{"_id":"1","name":"SFB 901"},{"name":"SFB 901 - Project Area A","_id":"2"},{"name":"SFB 901 - Subproject A3","_id":"7"}],"citation":{"ieee":"C.-J. Haake and J. T. Martini, “Negotiating Transfer Prices,” <i>Group Decision and Negotiation</i>, vol. 22, no. 4, pp. 657–680, 2012.","mla":"Haake, Claus-Jochen, and Jan Thomas Martini. “Negotiating Transfer Prices.” <i>Group Decision and Negotiation</i>, vol. 22, no. 4, Springer Nature, 2012, pp. 657–80, doi:<a href=\"https://doi.org/10.1007/s10726-012-9286-6\">10.1007/s10726-012-9286-6</a>.","apa":"Haake, C.-J., &#38; Martini, J. T. (2012). Negotiating Transfer Prices. <i>Group Decision and Negotiation</i>, <i>22</i>(4), 657–680. <a href=\"https://doi.org/10.1007/s10726-012-9286-6\">https://doi.org/10.1007/s10726-012-9286-6</a>","bibtex":"@article{Haake_Martini_2012, title={Negotiating Transfer Prices}, volume={22}, DOI={<a href=\"https://doi.org/10.1007/s10726-012-9286-6\">10.1007/s10726-012-9286-6</a>}, number={4}, journal={Group Decision and Negotiation}, publisher={Springer Nature}, author={Haake, Claus-Jochen and Martini, Jan Thomas}, year={2012}, pages={657–680} }","short":"C.-J. Haake, J.T. Martini, Group Decision and Negotiation 22 (2012) 657–680.","ama":"Haake C-J, Martini JT. Negotiating Transfer Prices. <i>Group Decision and Negotiation</i>. 2012;22(4):657-680. doi:<a href=\"https://doi.org/10.1007/s10726-012-9286-6\">10.1007/s10726-012-9286-6</a>","chicago":"Haake, Claus-Jochen, and Jan Thomas Martini. “Negotiating Transfer Prices.” <i>Group Decision and Negotiation</i> 22, no. 4 (2012): 657–80. <a href=\"https://doi.org/10.1007/s10726-012-9286-6\">https://doi.org/10.1007/s10726-012-9286-6</a>."},"file_date_updated":"2018-08-09T09:59:39Z","intvolume":"        22","date_updated":"2022-01-06T06:56:54Z","publication_status":"published","author":[{"last_name":"Haake","first_name":"Claus-Jochen","full_name":"Haake, Claus-Jochen","id":"20801"},{"last_name":"Martini","first_name":"Jan Thomas","full_name":"Martini, Jan Thomas"}],"publication_identifier":{"issn":["0926-2644","1572-9907"]},"year":"2012","title":"Negotiating Transfer Prices","doi":"10.1007/s10726-012-9286-6","language":[{"iso":"eng"}],"publication":"Group Decision and Negotiation","issue":"4","department":[{"_id":"205"},{"_id":"475"}],"type":"journal_article","date_created":"2018-04-26T10:49:51Z","file":[{"creator":"cjhaake","date_created":"2018-08-09T09:59:39Z","file_name":"Negotiating Transfer Prices.pdf","file_size":407410,"access_level":"closed","relation":"main_file","date_updated":"2018-08-09T09:59:39Z","file_id":"3870","content_type":"application/pdf","success":1}]},{"status":"public","has_accepted_license":"1","publisher":"Springer Nature","_id":"2521","page":"583-612","volume":10,"user_id":"65453","ddc":["040"],"citation":{"apa":"Haake, C.-J., Krieger, T., &#38; Minter, S. (2012). On the institutional design of burden sharing when financing external border enforcement in the EU. <i>International Economics and Economic Policy</i>, <i>10</i>(4), 583–612. <a href=\"https://doi.org/10.1007/s10368-012-0226-3\">https://doi.org/10.1007/s10368-012-0226-3</a>","ieee":"C.-J. Haake, T. Krieger, and S. Minter, “On the institutional design of burden sharing when financing external border enforcement in the EU,” <i>International Economics and Economic Policy</i>, vol. 10, no. 4, pp. 583–612, 2012.","short":"C.-J. Haake, T. Krieger, S. Minter, International Economics and Economic Policy 10 (2012) 583–612.","chicago":"Haake, Claus-Jochen, Tim Krieger, and Steffen Minter. “On the Institutional Design of Burden Sharing When Financing External Border Enforcement in the EU.” <i>International Economics and Economic Policy</i> 10, no. 4 (2012): 583–612. <a href=\"https://doi.org/10.1007/s10368-012-0226-3\">https://doi.org/10.1007/s10368-012-0226-3</a>.","mla":"Haake, Claus-Jochen, et al. “On the Institutional Design of Burden Sharing When Financing External Border Enforcement in the EU.” <i>International Economics and Economic Policy</i>, vol. 10, no. 4, Springer Nature, 2012, pp. 583–612, doi:<a href=\"https://doi.org/10.1007/s10368-012-0226-3\">10.1007/s10368-012-0226-3</a>.","ama":"Haake C-J, Krieger T, Minter S. On the institutional design of burden sharing when financing external border enforcement in the EU. <i>International Economics and Economic Policy</i>. 2012;10(4):583-612. doi:<a href=\"https://doi.org/10.1007/s10368-012-0226-3\">10.1007/s10368-012-0226-3</a>","bibtex":"@article{Haake_Krieger_Minter_2012, title={On the institutional design of burden sharing when financing external border enforcement in the EU}, volume={10}, DOI={<a href=\"https://doi.org/10.1007/s10368-012-0226-3\">10.1007/s10368-012-0226-3</a>}, number={4}, journal={International Economics and Economic Policy}, publisher={Springer Nature}, author={Haake, Claus-Jochen and Krieger, Tim and Minter, Steffen}, year={2012}, pages={583–612} }"},"file_date_updated":"2018-08-09T10:01:16Z","project":[{"_id":"1","name":"SFB 901"},{"name":"SFB 901 - Project Area A","_id":"2"},{"_id":"7","name":"SFB 901 - Subproject A3"}],"publication_identifier":{"issn":["1612-4804","1612-4812"]},"author":[{"full_name":"Haake, Claus-Jochen","first_name":"Claus-Jochen","last_name":"Haake","id":"20801"},{"full_name":"Krieger, Tim","last_name":"Krieger","first_name":"Tim"},{"last_name":"Minter","first_name":"Steffen","full_name":"Minter, Steffen"}],"year":"2012","title":"On the institutional design of burden sharing when financing external border enforcement in the EU","intvolume":"        10","publication_status":"published","date_updated":"2022-01-06T06:56:55Z","language":[{"iso":"eng"}],"doi":"10.1007/s10368-012-0226-3","publication":"International Economics and Economic Policy","issue":"4","date_created":"2018-04-26T10:51:03Z","file":[{"access_level":"closed","file_size":442955,"file_name":"On the institutional design of burden sharing when financing external border enforcement in the EU.pdf","date_updated":"2018-08-09T10:01:16Z","relation":"main_file","success":1,"content_type":"application/pdf","file_id":"3871","creator":"cjhaake","date_created":"2018-08-09T10:01:16Z"}],"department":[{"_id":"205"},{"_id":"475"}],"type":"journal_article"}]