---
_id: '37115'
author:
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
- first_name: Annita
full_name: Florou, Annita
last_name: Florou
- first_name: 'Peter F. '
full_name: 'Pope, Peter F. '
last_name: Pope
citation:
ama: 'Kosi U, Florou A, Pope PF. Does Mandatory IFRS Adoption Improve the Credit
Relevance of Accounting Information? In: ; 2013.'
apa: Kosi, U., Florou, A., & Pope, P. F. (2013). Does Mandatory IFRS Adoption
Improve the Credit Relevance of Accounting Information? 9th Workshop on European
Financial Reporting, Valencia, Spain.
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} }'
chicago: Kosi, Urska, Annita Florou, and Peter F. Pope. “Does Mandatory IFRS Adoption
Improve the Credit Relevance of Accounting Information?,” 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.
mla: Kosi, Urska, et al. Does Mandatory IFRS Adoption Improve the Credit Relevance
of Accounting Information? 2013.
short: 'U. Kosi, A. Florou, P.F. Pope, in: 2013.'
conference:
end_date: 2013-09-06
location: Valencia, Spain
name: 9th Workshop on European Financial Reporting
start_date: 2013-09-05
date_created: 2023-01-17T13:52:28Z
date_updated: 2023-01-17T13:52:33Z
department:
- _id: '635'
- _id: '186'
- _id: '551'
extern: '1'
language:
- iso: eng
status: public
title: Does Mandatory IFRS Adoption Improve the Credit Relevance of Accounting Information?
type: conference
user_id: '88603'
year: '2013'
...
---
_id: '3549'
abstract:
- lang: eng
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.
author:
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
- first_name: Aljosa
full_name: Valentincic, Aljosa
last_name: Valentincic
citation:
ama: 'Kosi U, Valentincic A. Write-offs and profitability in private firms: Disentangling
the impact of tax-minimisation incentives. European Accounting Review.
2013;22(1):117-150. doi:10.1080/09638180.2012.661938'
apa: 'Kosi, U., & Valentincic, A. (2013). Write-offs and profitability in private
firms: Disentangling the impact of tax-minimisation incentives. European Accounting
Review, 22(1), 117–150. https://doi.org/10.1080/09638180.2012.661938'
bibtex: '@article{Kosi_Valentincic_2013, title={Write-offs and profitability in
private firms: Disentangling the impact of tax-minimisation incentives}, volume={22},
DOI={10.1080/09638180.2012.661938},
number={1}, journal={European Accounting Review}, author={Kosi, Urska and Valentincic,
Aljosa}, year={2013}, pages={117–150} }'
chicago: 'Kosi, Urska, and Aljosa Valentincic. “Write-Offs and Profitability in
Private Firms: Disentangling the Impact of Tax-Minimisation Incentives.” European
Accounting Review 22, no. 1 (2013): 117–50. https://doi.org/10.1080/09638180.2012.661938.'
ieee: 'U. Kosi and A. Valentincic, “Write-offs and profitability in private firms:
Disentangling the impact of tax-minimisation incentives,” European Accounting
Review, vol. 22, no. 1, pp. 117–150, 2013, doi: 10.1080/09638180.2012.661938.'
mla: 'Kosi, Urska, and Aljosa Valentincic. “Write-Offs and Profitability in Private
Firms: Disentangling the Impact of Tax-Minimisation Incentives.” European Accounting
Review, vol. 22, no. 1, 2013, pp. 117–50, doi:10.1080/09638180.2012.661938.'
short: U. Kosi, A. Valentincic, European Accounting Review 22 (2013) 117–150.
date_created: 2018-07-12T08:20:29Z
date_updated: 2023-01-24T15:33:44Z
department:
- _id: '551'
- _id: '186'
- _id: '635'
doi: 10.1080/09638180.2012.661938
extern: '1'
intvolume: ' 22'
issue: '1'
language:
- iso: eng
page: 117-150
publication: European Accounting Review
publication_status: published
status: public
title: 'Write-offs and profitability in private firms: Disentangling the impact of
tax-minimisation incentives'
type: journal_article
user_id: '54068'
volume: 22
year: '2013'
...
---
_id: '37110'
author:
- first_name: Annita
full_name: Florou, Annita
last_name: Florou
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
citation:
ama: 'Florou A, Kosi U. Does mandatory IFRS adoption facilitate debt financing?
. In: ; 2013.'
apa: Florou, A., & Kosi, U. (2013). Does mandatory IFRS adoption facilitate
debt financing? . FACTS-Forschungswerkstatt, Berlin, Germany.
bibtex: '@inproceedings{Florou_Kosi_2013, title={Does mandatory IFRS adoption facilitate
debt financing? }, author={Florou, Annita and Kosi, Urska}, year={2013} }'
chicago: Florou, Annita, and Urska Kosi. “Does Mandatory IFRS Adoption Facilitate
Debt Financing? ,” 2013.
ieee: A. Florou and U. Kosi, “Does mandatory IFRS adoption facilitate debt financing?
,” presented at the FACTS-Forschungswerkstatt, Berlin, Germany, 2013.
mla: Florou, Annita, and Urska Kosi. Does Mandatory IFRS Adoption Facilitate
Debt Financing? . 2013.
short: 'A. Florou, U. Kosi, in: 2013.'
conference:
location: Berlin, Germany
name: FACTS-Forschungswerkstatt
start_date: 2013-01-07
date_created: 2023-01-17T13:28:19Z
date_updated: 2023-01-24T15:34:43Z
department:
- _id: '635'
- _id: '186'
- _id: '551'
extern: '1'
language:
- iso: eng
status: public
title: 'Does mandatory IFRS adoption facilitate debt financing? '
type: conference
user_id: '54068'
year: '2013'
...
---
_id: '5045'
author:
- first_name: Rainer
full_name: Niemann, Rainer
last_name: Niemann
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: Niemann R, Sureth-Sloane C. Sooner or Later? – Paradoxical Investment Effects
of Capital Gains Taxation under Simultaneous Investment and Abandonment Flexibility.
European Accounting Review. 2013;22(2):367-390. doi:10.1080/09638180.2012.682781
apa: Niemann, R., & Sureth-Sloane, C. (2013). Sooner or Later? – Paradoxical
Investment Effects of Capital Gains Taxation under Simultaneous Investment and
Abandonment Flexibility. European Accounting Review, 22(2), 367–390.
https://doi.org/10.1080/09638180.2012.682781
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={10.1080/09638180.2012.682781},
number={2}, journal={European Accounting Review}, publisher={Informa UK Limited},
author={Niemann, Rainer and Sureth-Sloane, Caren}, year={2013}, pages={367–390}
}'
chicago: 'Niemann, Rainer, and Caren Sureth-Sloane. “Sooner or Later? – Paradoxical
Investment Effects of Capital Gains Taxation under Simultaneous Investment and
Abandonment Flexibility.” European Accounting Review 22, no. 2 (2013):
367–90. https://doi.org/10.1080/09638180.2012.682781.'
ieee: 'R. Niemann and C. Sureth-Sloane, “Sooner or Later? – Paradoxical Investment
Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment
Flexibility,” European Accounting Review, vol. 22, no. 2, pp. 367–390,
2013, doi: 10.1080/09638180.2012.682781.'
mla: Niemann, Rainer, and Caren Sureth-Sloane. “Sooner or Later? – Paradoxical Investment
Effects of Capital Gains Taxation under Simultaneous Investment and Abandonment
Flexibility.” European Accounting Review, vol. 22, no. 2, Informa UK Limited,
2013, pp. 367–90, doi:10.1080/09638180.2012.682781.
short: R. Niemann, C. Sureth-Sloane, European Accounting Review 22 (2013) 367–390.
date_created: 2018-10-30T13:53:32Z
date_updated: 2023-01-31T12:13:03Z
department:
- _id: '187'
- _id: '635'
doi: 10.1080/09638180.2012.682781
intvolume: ' 22'
issue: '2'
language:
- iso: eng
page: 367-390
publication: European Accounting Review
publication_identifier:
issn:
- 0963-8180
- 1468-4497
publication_status: published
publisher: Informa UK Limited
quality_controlled: '1'
status: public
title: Sooner or Later? – Paradoxical Investment Effects of Capital Gains Taxation
under Simultaneous Investment and Abandonment Flexibility
type: journal_article
user_id: '21222'
volume: 22
year: '2013'
...
---
_id: '5048'
author:
- first_name: Pia
full_name: Vollert, Pia
last_name: Vollert
- first_name: Carolin
full_name: Eikel, Carolin
last_name: Eikel
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: Vollert P, Eikel C, Sureth-Sloane C. Advance Pricing Agreements (APAs) als
Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische Betrachtung.
Steuer und Wirtschaft. 2013;90(4):367-379.
apa: Vollert, P., Eikel, C., & Sureth-Sloane, C. (2013). Advance Pricing Agreements
(APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten – eine kritische
Betrachtung. Steuer und Wirtschaft, 90(4), 367–379.
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}
}'
chicago: 'Vollert, Pia, Carolin Eikel, and Caren Sureth-Sloane. “Advance Pricing
Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten
– eine kritische Betrachtung.” Steuer und Wirtschaft 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,” Steuer und Wirtschaft, 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.” Steuer
und Wirtschaft, vol. 90, no. 4, 2013, pp. 367–79.
short: P. Vollert, C. Eikel, C. Sureth-Sloane, Steuer und Wirtschaft 90 (2013) 367–379.
date_created: 2018-10-30T13:58:31Z
date_updated: 2023-01-31T12:13:21Z
department:
- _id: '187'
- _id: '635'
intvolume: ' 90'
issue: '4'
language:
- iso: ger
page: 367-379
publication: Steuer und Wirtschaft
quality_controlled: '1'
status: public
title: Advance Pricing Agreements (APAs) als Instrument zur Vermeidung von Verrechnungspreiskonflikten
– eine kritische Betrachtung
type: journal_article
user_id: '21222'
volume: 90
year: '2013'
...
---
_id: '46697'
author:
- first_name: I.
full_name: Garnefeld, I.
last_name: Garnefeld
- first_name: Eva
full_name: Münkhoff, Eva
id: '3043'
last_name: Münkhoff
orcid: 0000-0001-6053-1012
- first_name: K.
full_name: Raum, K.
last_name: Raum
citation:
ama: 'Garnefeld I, Münkhoff E, Raum K. Threat and normative appeals to reduce product
returns in online retailing – An effective marketing practice? In: 42nd EMAC
Annual Conference, Istanbul. ; 2013.'
apa: Garnefeld, I., Münkhoff, E., & Raum, K. (2013). Threat and normative appeals
to reduce product returns in online retailing – An effective marketing practice?
42nd EMAC Annual Conference, Istanbul. 42nd EMAC Annual Conference, Istanbul.
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} }'
chicago: Garnefeld, I., Eva Münkhoff, and K. Raum. “Threat and Normative Appeals
to Reduce Product Returns in Online Retailing – An Effective Marketing Practice?”
In 42nd EMAC Annual Conference, Istanbul, 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.
mla: Garnefeld, I., et al. “Threat and Normative Appeals to Reduce Product Returns
in Online Retailing – An Effective Marketing Practice?” 42nd EMAC Annual Conference,
Istanbul, 2013.
short: 'I. Garnefeld, E. Münkhoff, K. Raum, in: 42nd EMAC Annual Conference, Istanbul,
2013.'
conference:
location: Istanbul
name: 42nd EMAC Annual Conference
date_created: 2023-08-25T09:25:17Z
date_updated: 2023-08-25T10:03:46Z
department:
- _id: '785'
language:
- iso: eng
publication: 42nd EMAC Annual Conference, Istanbul
publication_status: published
status: public
title: Threat and normative appeals to reduce product returns in online retailing
– An effective marketing practice?
type: conference
user_id: '49063'
year: '2013'
...
---
_id: '46696'
author:
- first_name: Eva
full_name: Münkhoff, Eva
id: '3043'
last_name: Münkhoff
orcid: 0000-0001-6053-1012
- first_name: I.
full_name: Garnefeld, I.
last_name: Garnefeld
- first_name: A.
full_name: Bruns, A.
last_name: Bruns
citation:
ama: 'Münkhoff E, Garnefeld I, Bruns A. How to prolong a sales promotion – Ex-post
time extension versus reframing. In: 42nd EMAC Annual Conference, Istanbul.
; 2013.'
apa: Münkhoff, E., Garnefeld, I., & Bruns, A. (2013). How to prolong a sales
promotion – Ex-post time extension versus reframing. 42nd EMAC Annual Conference,
Istanbul. 42nd EMAC Annual Conference, Istanbul.
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} }'
chicago: Münkhoff, Eva, I. Garnefeld, and A. Bruns. “How to Prolong a Sales Promotion
– Ex-Post Time Extension versus Reframing.” In 42nd EMAC Annual Conference,
Istanbul, 2013.
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.
mla: Münkhoff, Eva, et al. “How to Prolong a Sales Promotion – Ex-Post Time Extension
versus Reframing.” 42nd EMAC Annual Conference, Istanbul, 2013.
short: 'E. Münkhoff, I. Garnefeld, A. Bruns, in: 42nd EMAC Annual Conference, Istanbul,
2013.'
conference:
location: Istanbul
name: 42nd EMAC Annual Conference
date_created: 2023-08-25T09:24:06Z
date_updated: 2023-08-25T10:03:52Z
department:
- _id: '785'
language:
- iso: eng
publication: 42nd EMAC Annual Conference, Istanbul
publication_status: published
status: public
title: How to prolong a sales promotion – Ex-post time extension versus reframing
type: conference
user_id: '49063'
year: '2013'
...
---
_id: '46643'
alternative_title:
- Eine latente Wachstumskurvenanalyse
author:
- first_name: Eva
full_name: Münkhoff, Eva
id: '3043'
last_name: Münkhoff
orcid: 0000-0001-6053-1012
citation:
ama: Münkhoff E. Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen.
Springer Gabler; 2013. doi:10.1007/978-3-658-02122-1
apa: Münkhoff, E. (2013). Umsatz- und Profitabilitätsauswirkungen industrieller
Dienstleistungen. Springer Gabler. https://doi.org/10.1007/978-3-658-02122-1
bibtex: '@book{Münkhoff_2013, place={Wiesbaden}, title={Umsatz- und Profitabilitätsauswirkungen
industrieller Dienstleistungen}, DOI={10.1007/978-3-658-02122-1},
publisher={Springer Gabler}, author={Münkhoff, Eva}, year={2013} }'
chicago: 'Münkhoff, Eva. Umsatz- und Profitabilitätsauswirkungen industrieller
Dienstleistungen. Wiesbaden: Springer Gabler, 2013. https://doi.org/10.1007/978-3-658-02122-1.'
ieee: 'E. Münkhoff, Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen.
Wiesbaden: Springer Gabler, 2013.'
mla: Münkhoff, Eva. Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen.
Springer Gabler, 2013, doi:10.1007/978-3-658-02122-1.
short: E. Münkhoff, Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen,
Springer Gabler, Wiesbaden, 2013.
date_created: 2023-08-22T15:34:19Z
date_updated: 2023-09-01T10:06:58Z
department:
- _id: '785'
doi: 10.1007/978-3-658-02122-1
language:
- iso: ger
place: Wiesbaden
publication_identifier:
isbn:
- '9783658021214'
- '9783658021221'
publication_status: published
publisher: Springer Gabler
status: public
title: Umsatz- und Profitabilitätsauswirkungen industrieller Dienstleistungen
type: book
user_id: '49063'
year: '2013'
...
---
_id: '56304'
article_number: '22'
author:
- first_name: Ronald
full_name: Bachmann, Ronald
last_name: Bachmann
- first_name: Daniel
full_name: Baumgarten, Daniel
id: '102770'
last_name: Baumgarten
citation:
ama: Bachmann R, Baumgarten D. How do the unemployed search for a job? – Evidence
from the EU Labour Force Survey. IZA Journal of European Labor Studies.
2013;2(1). doi:10.1186/2193-9012-2-22
apa: Bachmann, R., & Baumgarten, D. (2013). How do the unemployed search for
a job? – Evidence from the EU Labour Force Survey. IZA Journal of European
Labor Studies, 2(1), Article 22. https://doi.org/10.1186/2193-9012-2-22
bibtex: '@article{Bachmann_Baumgarten_2013, title={How do the unemployed search
for a job? – Evidence from the EU Labour Force Survey}, volume={2}, DOI={10.1186/2193-9012-2-22},
number={122}, journal={IZA Journal of European Labor Studies}, publisher={Springer
Science and Business Media LLC}, author={Bachmann, Ronald and Baumgarten, Daniel},
year={2013} }'
chicago: Bachmann, Ronald, and Daniel Baumgarten. “How Do the Unemployed Search
for a Job? – Evidence from the EU Labour Force Survey.” IZA Journal of European
Labor Studies 2, no. 1 (2013). https://doi.org/10.1186/2193-9012-2-22.
ieee: 'R. Bachmann and D. Baumgarten, “How do the unemployed search for a job? –
Evidence from the EU Labour Force Survey,” IZA Journal of European Labor Studies,
vol. 2, no. 1, Art. no. 22, 2013, doi: 10.1186/2193-9012-2-22.'
mla: Bachmann, Ronald, and Daniel Baumgarten. “How Do the Unemployed Search for
a Job? – Evidence from the EU Labour Force Survey.” IZA Journal of European
Labor Studies, vol. 2, no. 1, 22, Springer Science and Business Media LLC,
2013, doi:10.1186/2193-9012-2-22.
short: R. Bachmann, D. Baumgarten, IZA Journal of European Labor Studies 2 (2013).
date_created: 2024-10-01T14:07:43Z
date_updated: 2024-10-01T14:09:37Z
department:
- _id: '892'
doi: 10.1186/2193-9012-2-22
extern: '1'
intvolume: ' 2'
issue: '1'
language:
- iso: eng
publication: IZA Journal of European Labor Studies
publication_identifier:
issn:
- 2193-9012
publication_status: published
publisher: Springer Science and Business Media LLC
status: public
title: How do the unemployed search for a job? – Evidence from the EU Labour Force
Survey
type: journal_article
user_id: '102261'
volume: 2
year: '2013'
...
---
_id: '56306'
author:
- first_name: Daniel
full_name: Baumgarten, Daniel
id: '102770'
last_name: Baumgarten
citation:
ama: 'Baumgarten D. Exporters and the rise in wage inequality: Evidence from German
linked employer–employee data. Journal of International Economics. 2013;90(1):201-217.
doi:10.1016/j.jinteco.2012.10.001'
apa: 'Baumgarten, D. (2013). Exporters and the rise in wage inequality: Evidence
from German linked employer–employee data. Journal of International Economics,
90(1), 201–217. https://doi.org/10.1016/j.jinteco.2012.10.001'
bibtex: '@article{Baumgarten_2013, title={Exporters and the rise in wage inequality:
Evidence from German linked employer–employee data}, volume={90}, DOI={10.1016/j.jinteco.2012.10.001},
number={1}, journal={Journal of International Economics}, publisher={Elsevier
BV}, author={Baumgarten, Daniel}, year={2013}, pages={201–217} }'
chicago: 'Baumgarten, Daniel. “Exporters and the Rise in Wage Inequality: Evidence
from German Linked Employer–Employee Data.” Journal of International Economics
90, no. 1 (2013): 201–17. https://doi.org/10.1016/j.jinteco.2012.10.001.'
ieee: 'D. Baumgarten, “Exporters and the rise in wage inequality: Evidence from
German linked employer–employee data,” Journal of International Economics,
vol. 90, no. 1, pp. 201–217, 2013, doi: 10.1016/j.jinteco.2012.10.001.'
mla: 'Baumgarten, Daniel. “Exporters and the Rise in Wage Inequality: Evidence from
German Linked Employer–Employee Data.” Journal of International Economics,
vol. 90, no. 1, Elsevier BV, 2013, pp. 201–17, doi:10.1016/j.jinteco.2012.10.001.'
short: D. Baumgarten, Journal of International Economics 90 (2013) 201–217.
date_created: 2024-10-01T14:12:49Z
date_updated: 2024-10-01T14:14:13Z
department:
- _id: '892'
doi: 10.1016/j.jinteco.2012.10.001
extern: '1'
intvolume: ' 90'
issue: '1'
language:
- iso: eng
page: 201-217
publication: Journal of International Economics
publication_identifier:
issn:
- 0022-1996
publication_status: published
publisher: Elsevier BV
status: public
title: 'Exporters and the rise in wage inequality: Evidence from German linked employer–employee
data'
type: journal_article
user_id: '102261'
volume: 90
year: '2013'
...
---
_id: '56305'
author:
- first_name: Daniel
full_name: Baumgarten, Daniel
id: '102770'
last_name: Baumgarten
- first_name: Ingo
full_name: Geishecker, Ingo
last_name: Geishecker
- first_name: Holger
full_name: Görg, Holger
last_name: Görg
citation:
ama: Baumgarten D, Geishecker I, Görg H. Offshoring, tasks, and the skill-wage pattern.
European Economic Review. 2013;61:132-152. doi:10.1016/j.euroecorev.2013.03.007
apa: Baumgarten, D., Geishecker, I., & Görg, H. (2013). Offshoring, tasks, and
the skill-wage pattern. European Economic Review, 61, 132–152. https://doi.org/10.1016/j.euroecorev.2013.03.007
bibtex: '@article{Baumgarten_Geishecker_Görg_2013, title={Offshoring, tasks, and
the skill-wage pattern}, volume={61}, DOI={10.1016/j.euroecorev.2013.03.007},
journal={European Economic Review}, publisher={Elsevier BV}, author={Baumgarten,
Daniel and Geishecker, Ingo and Görg, Holger}, year={2013}, pages={132–152} }'
chicago: 'Baumgarten, Daniel, Ingo Geishecker, and Holger Görg. “Offshoring, Tasks,
and the Skill-Wage Pattern.” European Economic Review 61 (2013): 132–52.
https://doi.org/10.1016/j.euroecorev.2013.03.007.'
ieee: 'D. Baumgarten, I. Geishecker, and H. Görg, “Offshoring, tasks, and the skill-wage
pattern,” European Economic Review, vol. 61, pp. 132–152, 2013, doi: 10.1016/j.euroecorev.2013.03.007.'
mla: Baumgarten, Daniel, et al. “Offshoring, Tasks, and the Skill-Wage Pattern.”
European Economic Review, vol. 61, Elsevier BV, 2013, pp. 132–52, doi:10.1016/j.euroecorev.2013.03.007.
short: D. Baumgarten, I. Geishecker, H. Görg, European Economic Review 61 (2013)
132–152.
date_created: 2024-10-01T14:10:44Z
date_updated: 2024-10-01T14:12:18Z
department:
- _id: '892'
doi: 10.1016/j.euroecorev.2013.03.007
extern: '1'
intvolume: ' 61'
language:
- iso: eng
page: 132-152
publication: European Economic Review
publication_identifier:
issn:
- 0014-2921
publication_status: published
publisher: Elsevier BV
status: public
title: Offshoring, tasks, and the skill-wage pattern
type: journal_article
user_id: '102261'
volume: 61
year: '2013'
...
---
_id: '2654'
author:
- first_name: Dennis
full_name: Kundisch, Dennis
id: '21117'
last_name: Kundisch
- first_name: Johannes
full_name: Magenheim, Johannes
last_name: Magenheim
- first_name: Marc
full_name: Beutner, Marc
last_name: Beutner
- first_name: Philipp
full_name: Herrmann, Philipp
last_name: Herrmann
- first_name: W.
full_name: Reinhardt, W.
last_name: Reinhardt
- first_name: A.
full_name: Zoyke, A.
last_name: Zoyke
citation:
ama: Kundisch D, Magenheim J, Beutner M, Herrmann P, Reinhardt W, Zoyke A. Classroom
Response Systems. Informatik-Spektrum. 2013;36(4):389-393.
apa: Kundisch, D., Magenheim, J., Beutner, M., Herrmann, P., Reinhardt, W., &
Zoyke, A. (2013). Classroom Response Systems. Informatik-Spektrum, 36(4),
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} }'
chicago: 'Kundisch, Dennis, Johannes Magenheim, Marc Beutner, Philipp Herrmann,
W. Reinhardt, and A. Zoyke. “Classroom Response Systems.” Informatik-Spektrum
36, no. 4 (2013): 389–93.'
ieee: D. Kundisch, J. Magenheim, M. Beutner, P. Herrmann, W. Reinhardt, and A. Zoyke,
“Classroom Response Systems,” Informatik-Spektrum, vol. 36, no. 4, pp.
389–393, 2013.
mla: Kundisch, Dennis, et al. “Classroom Response Systems.” Informatik-Spektrum,
vol. 36, no. 4, 2013, pp. 389–93.
short: D. Kundisch, J. Magenheim, M. Beutner, P. Herrmann, W. Reinhardt, A. Zoyke,
Informatik-Spektrum 36 (2013) 389–393.
date_created: 2018-05-04T09:16:17Z
date_updated: 2025-01-16T13:03:59Z
department:
- _id: '276'
- _id: '210'
intvolume: ' 36'
issue: '4'
language:
- iso: eng
page: 389-393
publication: Informatik-Spektrum
publication_status: published
status: public
title: Classroom Response Systems
type: journal_article
user_id: '16205'
volume: 36
year: '2013'
...
---
_id: '57400'
author:
- first_name: Philip
full_name: Yang, Philip
id: '100432'
last_name: Yang
- first_name: Simon
full_name: Janssen, Simon
last_name: Janssen
- first_name: Christian
full_name: Pfeifer, Christian
last_name: Pfeifer
- first_name: Uschi
full_name: Backes-Gellner, Uschi
last_name: Backes-Gellner
citation:
ama: Yang P, Janssen S, Pfeifer C, Backes-Gellner U. Careers and productivity in
an internal labor market. Journal of Business Economics. 2013;83(2):121-143.
doi:10.1007/s11573-012-0649-x
apa: Yang, P., Janssen, S., Pfeifer, C., & Backes-Gellner, U. (2013). Careers
and productivity in an internal labor market. Journal of Business Economics,
83(2), 121–143. https://doi.org/10.1007/s11573-012-0649-x
bibtex: '@article{Yang_Janssen_Pfeifer_Backes-Gellner_2013, title={Careers and productivity
in an internal labor market}, volume={83}, DOI={10.1007/s11573-012-0649-x},
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} }'
chicago: 'Yang, Philip, Simon Janssen, Christian Pfeifer, and Uschi Backes-Gellner.
“Careers and Productivity in an Internal Labor Market.” Journal of Business
Economics 83, no. 2 (2013): 121–43. https://doi.org/10.1007/s11573-012-0649-x.'
ieee: 'P. Yang, S. Janssen, C. Pfeifer, and U. Backes-Gellner, “Careers and productivity
in an internal labor market,” Journal of Business Economics, vol. 83, no.
2, pp. 121–143, 2013, doi: 10.1007/s11573-012-0649-x.'
mla: Yang, Philip, et al. “Careers and Productivity in an Internal Labor Market.”
Journal of Business Economics, vol. 83, no. 2, Springer Science and Business
Media LLC, 2013, pp. 121–43, doi:10.1007/s11573-012-0649-x.
short: P. Yang, S. Janssen, C. Pfeifer, U. Backes-Gellner, Journal of Business Economics
83 (2013) 121–143.
date_created: 2024-11-25T09:25:33Z
date_updated: 2025-04-09T13:20:08Z
department:
- _id: '681'
doi: 10.1007/s11573-012-0649-x
intvolume: ' 83'
issue: '2'
language:
- iso: eng
page: 121-143
publication: Journal of Business Economics
publication_identifier:
issn:
- 0044-2372
- 1861-8928
publication_status: published
publisher: Springer Science and Business Media LLC
status: public
title: Careers and productivity in an internal labor market
type: journal_article
user_id: '80877'
volume: 83
year: '2013'
...
---
_id: '5191'
abstract:
- lang: eng
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.
article_type: original
author:
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
- first_name: Christopher F
full_name: Mokwa, Christopher F
last_name: Mokwa
- first_name: Georg
full_name: Keienburg, Georg
last_name: Keienburg
citation:
ama: Sievers S, Mokwa CF, Keienburg G. The relevance of financial versus non-financial
information for the valuation of venture capital-backed firms. European Accounting
Review (VHB-JOURQUAL 4 Ranking A). 2013;22(3):467-511. doi:10.1080/09638180.2012.741051
apa: Sievers, S., Mokwa, C. F., & Keienburg, G. (2013). The relevance of financial
versus non-financial information for the valuation of venture capital-backed firms.
European Accounting Review (VHB-JOURQUAL 4 Ranking A), 22(3), 467–511.
https://doi.org/10.1080/09638180.2012.741051
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={10.1080/09638180.2012.741051},
number={3}, journal={European Accounting Review (VHB-JOURQUAL 4 Ranking A)}, publisher={Taylor
\& Francis}, author={Sievers, Sönke and Mokwa, Christopher F and Keienburg,
Georg}, year={2013}, pages={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.” European Accounting Review (VHB-JOURQUAL 4 Ranking A) 22, no. 3
(2013): 467–511. https://doi.org/10.1080/09638180.2012.741051.'
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,”
European Accounting Review (VHB-JOURQUAL 4 Ranking A), vol. 22, no. 3,
pp. 467–511, 2013, doi: 10.1080/09638180.2012.741051.'
mla: Sievers, Sönke, et al. “The Relevance of Financial versus Non-Financial Information
for the Valuation of Venture Capital-Backed Firms.” European Accounting Review
(VHB-JOURQUAL 4 Ranking A), vol. 22, no. 3, Taylor \& Francis, 2013, pp.
467–511, doi:10.1080/09638180.2012.741051.
short: S. Sievers, C.F. Mokwa, G. Keienburg, European Accounting Review (VHB-JOURQUAL
4 Ranking A) 22 (2013) 467–511.
date_created: 2018-10-31T11:27:42Z
date_updated: 2026-04-09T07:59:17Z
department:
- _id: '275'
doi: 10.1080/09638180.2012.741051
extern: '1'
intvolume: ' 22'
issue: '3'
jel:
- G24
- G32
- M41
keyword:
- value relevance
- equity valuation
- venture capital
- human capital
- start-ups
language:
- iso: eng
main_file_link:
- url: http://www.tandfonline.com/doi/full/10.1080/09638180.2012.741051
page: 467-511
publication: European Accounting Review (VHB-JOURQUAL 4 Ranking A)
publication_status: published
publisher: Taylor \& Francis
quality_controlled: '1'
related_material:
link:
- relation: earlier_version
url: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1449740
status: public
title: The relevance of financial versus non-financial information for the valuation
of venture capital-backed firms
type: journal_article
user_id: '115848'
volume: 22
year: '2013'
...
---
_id: '5192'
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.
article_type: original
author:
- first_name: Jan
full_name: Klobucnik, Jan
last_name: Klobucnik
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
citation:
ama: Klobucnik J, Sievers S. Valuing high technology growth firms. Journal of
Business Economics (VHB-JOURQUAL 4 Ranking B). 2013;83(9):947-984. doi:https://doi.org/10.1007/s11573-013-0684-2
apa: Klobucnik, J., & Sievers, S. (2013). Valuing high technology growth firms.
Journal of Business Economics (VHB-JOURQUAL 4 Ranking B), 83(9),
947–984. https://doi.org/10.1007/s11573-013-0684-2
bibtex: '@article{Klobucnik_Sievers_2013, title={Valuing high technology growth
firms}, volume={83}, DOI={https://doi.org/10.1007/s11573-013-0684-2},
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} }'
chicago: 'Klobucnik, Jan, and Sönke Sievers. “Valuing High Technology Growth Firms.”
Journal of Business Economics (VHB-JOURQUAL 4 Ranking B) 83, no. 9 (2013):
947–84. https://doi.org/10.1007/s11573-013-0684-2.'
ieee: 'J. Klobucnik and S. Sievers, “Valuing high technology growth firms,” Journal
of Business Economics (VHB-JOURQUAL 4 Ranking B), vol. 83, no. 9, pp. 947–984,
2013, doi: https://doi.org/10.1007/s11573-013-0684-2.'
mla: Klobucnik, Jan, and Sönke Sievers. “Valuing High Technology Growth Firms.”
Journal of Business Economics (VHB-JOURQUAL 4 Ranking B), vol. 83, no.
9, Springer, 2013, pp. 947–84, doi:https://doi.org/10.1007/s11573-013-0684-2.
short: J. Klobucnik, S. Sievers, Journal of Business Economics (VHB-JOURQUAL 4 Ranking
B) 83 (2013) 947–984.
date_created: 2018-10-31T11:31:56Z
date_updated: 2026-04-09T08:00:16Z
department:
- _id: '275'
doi: https://doi.org/10.1007/s11573-013-0684-2
extern: '1'
intvolume: ' 83'
issue: '9'
jel:
- G11
- G12
- G17
- G33
keyword:
- Schwartz-Moon model
- Market mispricing
- Empirical test
- Company valuation
- Trading strategy
language:
- iso: eng
main_file_link:
- url: https://link.springer.com/article/10.1007/s11573-013-0684-2
page: 947-984
publication: Journal of Business Economics (VHB-JOURQUAL 4 Ranking B)
publication_status: published
publisher: Springer
quality_controlled: '1'
status: public
title: Valuing high technology growth firms
type: journal_article
user_id: '115848'
volume: 83
year: '2013'
...
---
_id: '5113'
abstract:
- lang: eng
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. '
article_type: original
author:
- first_name: Nicolas
full_name: Heinrichs, Nicolas
last_name: Heinrichs
- first_name: Dieter
full_name: Hess, Dieter
last_name: Hess
- first_name: Carsten
full_name: Homburg, Carsten
last_name: Homburg
- first_name: Michael
full_name: Lorenz, Michael
last_name: Lorenz
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
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. Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+).
2013;30(1):42-79. doi:10.2139/ssrn.1145201'
apa: 'Heinrichs, N., Hess, D., Homburg, C., Lorenz, M., & Sievers, S. (2013).
Extended dividend, cash flow, and residual income valuation models: Accounting
for deviations from ideal conditions. Contemporary Accounting Research (VHB-JOURQUAL
4 Ranking A+), 30(1), 42–79. https://doi.org/10.2139/ssrn.1145201'
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={10.2139/ssrn.1145201},
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}
}'
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.” Contemporary Accounting Research
(VHB-JOURQUAL 4 Ranking A+) 30, no. 1 (2013): 42–79. https://doi.org/10.2139/ssrn.1145201.'
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,” Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking
A+), vol. 30, no. 1, pp. 42–79, 2013, doi: 10.2139/ssrn.1145201.'
mla: 'Heinrichs, Nicolas, et al. “Extended Dividend, Cash Flow, and Residual Income
Valuation Models: Accounting for Deviations from Ideal Conditions.” Contemporary
Accounting Research (VHB-JOURQUAL 4 Ranking A+), vol. 30, no. 1, Wiley Online
Library, 2013, pp. 42–79, doi:10.2139/ssrn.1145201.'
short: N. Heinrichs, D. Hess, C. Homburg, M. Lorenz, S. Sievers, Contemporary Accounting
Research (VHB-JOURQUAL 4 Ranking A+) 30 (2013) 42–79.
date_created: 2018-10-31T07:58:17Z
date_updated: 2026-04-09T08:22:32Z
department:
- _id: '275'
doi: 10.2139/ssrn.1145201
extern: '1'
intvolume: ' 30'
issue: '1'
jel:
- G12
- G14
- M41
keyword:
- Dividend Discount Model
- Residual Income
- Discounted Cash Flow
- Dirty Surplus
- Terminal Value
- Valuation Error
language:
- iso: eng
main_file_link:
- url: http://onlinelibrary.wiley.com/doi/10.1111/j.1911-3846.2011.01148.x/abstract
page: 42-79
publication: Contemporary Accounting Research (VHB-JOURQUAL 4 Ranking A+)
publication_status: published
publisher: Wiley Online Library
quality_controlled: '1'
related_material:
link:
- relation: earlier_version
url: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1145201
status: public
title: 'Extended dividend, cash flow, and residual income valuation models: Accounting
for deviations from ideal conditions'
type: journal_article
user_id: '115848'
volume: 30
year: '2013'
...
---
_id: '20863'
abstract:
- lang: eng
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.
article_type: original
author:
- first_name: Tobias
full_name: Schlueter, Tobias
last_name: Schlueter
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
citation:
ama: 'Schlueter T, Sievers S. Determinants of market beta: the impacts of firm-specific
accounting figures and market conditions. Review of Quantitative Finance and
Accounting (VHB-JOURQUAL 4 Ranking B). 2013;(3):535-570. doi:10.1007/s11156-013-0352-1'
apa: 'Schlueter, T., & Sievers, S. (2013). Determinants of market beta: the
impacts of firm-specific accounting figures and market conditions. Review of
Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B), 3,
535–570. https://doi.org/10.1007/s11156-013-0352-1'
bibtex: '@article{Schlueter_Sievers_2013, title={Determinants of market beta: the
impacts of firm-specific accounting figures and market conditions}, DOI={10.1007/s11156-013-0352-1},
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}
}'
chicago: 'Schlueter, Tobias, and Sönke Sievers. “Determinants of Market Beta: The
Impacts of Firm-Specific Accounting Figures and Market Conditions.” Review
of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking B), no. 3 (2013):
535–70. https://doi.org/10.1007/s11156-013-0352-1.'
ieee: 'T. Schlueter and S. Sievers, “Determinants of market beta: the impacts of
firm-specific accounting figures and market conditions,” Review of Quantitative
Finance and Accounting (VHB-JOURQUAL 4 Ranking B), no. 3, pp. 535–570, 2013,
doi: 10.1007/s11156-013-0352-1.'
mla: 'Schlueter, Tobias, and Sönke Sievers. “Determinants of Market Beta: The Impacts
of Firm-Specific Accounting Figures and Market Conditions.” Review of Quantitative
Finance and Accounting (VHB-JOURQUAL 4 Ranking B), no. 3, 2013, pp. 535–70,
doi:10.1007/s11156-013-0352-1.'
short: T. Schlueter, S. Sievers, Review of Quantitative Finance and Accounting (VHB-JOURQUAL
4 Ranking B) (2013) 535–570.
date_created: 2021-01-05T09:28:36Z
date_updated: 2026-04-09T08:02:58Z
department:
- _id: '275'
doi: 10.1007/s11156-013-0352-1
extern: '1'
issue: '3'
jel:
- C36
- G11
- G12
keyword:
- CAPM
- Cost of capital
- Accounting beta
- Intrinsic business risk
- Growth risk
- Instrumental variables
language:
- iso: eng
main_file_link:
- url: https://link.springer.com/article/10.1007/s11156-013-0352-1
page: 535-570
publication: Review of Quantitative Finance and Accounting (VHB-JOURQUAL 4 Ranking
B)
publication_identifier:
issn:
- 0924-865X
- 1573-7179
publication_status: published
quality_controlled: '1'
status: public
title: 'Determinants of market beta: the impacts of firm-specific accounting figures
and market conditions'
type: journal_article
user_id: '115848'
year: '2013'
...
---
_id: '5108'
abstract:
- lang: eng
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. '
article_type: original
author:
- first_name: Daniel
full_name: Kreutzmann, Daniel
last_name: Kreutzmann
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
- first_name: Christian
full_name: Mueller, Christian
last_name: Mueller
citation:
ama: Kreutzmann D, Sievers S, Mueller C. Investment distortions and the value of
the government’s tax claim. Applied Financial Economics (VHB-JOURQUAL 4 Ranking
C). 2013;23(11):977-989. doi:10.1080/09603107.2013.786161
apa: Kreutzmann, D., Sievers, S., & Mueller, C. (2013). Investment distortions
and the value of the government’s tax claim. Applied Financial Economics (VHB-JOURQUAL
4 Ranking C), 23(11), 977–989. https://doi.org/10.1080/09603107.2013.786161
bibtex: '@article{Kreutzmann_Sievers_Mueller_2013, title={Investment distortions
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number={11}, journal={Applied Financial Economics (VHB-JOURQUAL 4 Ranking C)},
publisher={Taylor \& Francis}, author={Kreutzmann, Daniel and Sievers, Sönke
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chicago: 'Kreutzmann, Daniel, Sönke Sievers, and Christian Mueller. “Investment
Distortions and the Value of the Government’s Tax Claim.” Applied Financial
Economics (VHB-JOURQUAL 4 Ranking C) 23, no. 11 (2013): 977–89. https://doi.org/10.1080/09603107.2013.786161.'
ieee: 'D. Kreutzmann, S. Sievers, and C. Mueller, “Investment distortions and the
value of the government’s tax claim,” Applied Financial Economics (VHB-JOURQUAL
4 Ranking C), vol. 23, no. 11, pp. 977–989, 2013, doi: 10.1080/09603107.2013.786161.'
mla: Kreutzmann, Daniel, et al. “Investment Distortions and the Value of the Government’s
Tax Claim.” Applied Financial Economics (VHB-JOURQUAL 4 Ranking C), vol.
23, no. 11, Taylor \& Francis, 2013, pp. 977–89, doi:10.1080/09603107.2013.786161.
short: D. Kreutzmann, S. Sievers, C. Mueller, Applied Financial Economics (VHB-JOURQUAL
4 Ranking C) 23 (2013) 977–989.
date_created: 2018-10-31T07:50:58Z
date_updated: 2026-04-09T08:04:59Z
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- cost of capital
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title: Investment distortions and the value of the government's tax claim
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citation:
ama: Haake C-J, Martini JT. Negotiating Transfer Prices. Group Decision and Negotiation.
2012;22(4):657-680. doi:10.1007/s10726-012-9286-6
apa: Haake, C.-J., & Martini, J. T. (2012). Negotiating Transfer Prices. Group
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number={4}, journal={Group Decision and Negotiation}, publisher={Springer Nature},
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chicago: 'Haake, Claus-Jochen, and Jan Thomas Martini. “Negotiating Transfer Prices.”
Group Decision and Negotiation 22, no. 4 (2012): 657–80. https://doi.org/10.1007/s10726-012-9286-6.'
ieee: C.-J. Haake and J. T. Martini, “Negotiating Transfer Prices,” Group Decision
and Negotiation, vol. 22, no. 4, pp. 657–680, 2012.
mla: Haake, Claus-Jochen, and Jan Thomas Martini. “Negotiating Transfer Prices.”
Group Decision and Negotiation, vol. 22, no. 4, Springer Nature, 2012,
pp. 657–80, doi:10.1007/s10726-012-9286-6.
short: C.-J. Haake, J.T. Martini, Group Decision and Negotiation 22 (2012) 657–680.
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- first_name: Steffen
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citation:
ama: Haake C-J, Krieger T, Minter S. On the institutional design of burden sharing
when financing external border enforcement in the EU. International Economics
and Economic Policy. 2012;10(4):583-612. doi:10.1007/s10368-012-0226-3
apa: Haake, C.-J., Krieger, T., & Minter, S. (2012). On the institutional design
of burden sharing when financing external border enforcement in the EU. International
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DOI={10.1007/s10368-012-0226-3},
number={4}, journal={International Economics and Economic Policy}, publisher={Springer
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pages={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.”
International Economics and Economic Policy 10, no. 4 (2012): 583–612.
https://doi.org/10.1007/s10368-012-0226-3.'
ieee: C.-J. Haake, T. Krieger, and S. Minter, “On the institutional design of burden
sharing when financing external border enforcement in the EU,” International
Economics and Economic Policy, vol. 10, no. 4, pp. 583–612, 2012.
mla: Haake, Claus-Jochen, et al. “On the Institutional Design of Burden Sharing
When Financing External Border Enforcement in the EU.” International Economics
and Economic Policy, vol. 10, no. 4, Springer Nature, 2012, pp. 583–612, doi:10.1007/s10368-012-0226-3.
short: C.-J. Haake, T. Krieger, S. Minter, International Economics and Economic
Policy 10 (2012) 583–612.
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title: On the institutional design of burden sharing when financing external border
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