[{"date_created":"2019-12-18T15:53:47Z","department":[{"_id":"19"},{"_id":"186"}],"keyword":["credit default swaps","risk perception of CDS investors","mergers and acquisitions","event study"],"type":"working_paper","citation":{"ieee":"A. Uhde and B. Hippert, <i>The relationship between announcements of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes</i>. 2019.","apa":"Uhde, A., &#38; Hippert, B. (2019). <i>The relationship between announcements of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes</i>.","chicago":"Uhde, André, and Benjamin Hippert. <i>The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes</i>, 2019.","short":"A. Uhde, B. Hippert, The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes, 2019.","mla":"Uhde, André, and Benjamin Hippert. <i>The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes</i>. 2019.","bibtex":"@book{Uhde_Hippert_2019, title={The relationship between announcements of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes}, author={Uhde, André and Hippert, Benjamin}, year={2019} }","ama":"Uhde A, Hippert B. <i>The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes</i>.; 2019."},"abstract":[{"lang":"eng","text":"Employing a sample of 492 merger and acquisition (M&A) announcements from\r\n284 acquirers across North America and Europe between 2005 and 2018, this study\r\nanalyzes the impact of M&A announcements on an acquirers abnormal CDS spread\r\nchanges. We \fnd that spreads from CDS which are written on acquirers increase\r\nby 310 bps during a symmetric \fve-day event window suggesting that investors\r\nexpect an increase in the acquirers credit risk exposure due to M&As. Next to\r\nthis baseline \fnding, we conduct a large variety of sensitivity analyses to gain more\r\ninsight into the driving factors of the rising risk perception of CDS investors due to\r\nM&A announcements."}],"_id":"15392","language":[{"iso":"eng"}],"user_id":"36049","jel":["G14","G34"],"author":[{"full_name":"Uhde, André","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","id":"36049"},{"id":"48476","full_name":"Hippert, Benjamin","last_name":"Hippert","first_name":"Benjamin"}],"title":"The relationship between announcements of complete mergers and acquisitions and acquirers' abnormal CDS-Spread changes","year":"2019","status":"public","date_updated":"2024-04-17T13:35:41Z"},{"department":[{"_id":"189"},{"_id":"635"}],"type":"working_paper","date_created":"2023-01-18T12:11:27Z","citation":{"short":"J. Müller, V. Gawehn, Tax Avoidance - Are Banks Any Different?, 2019.","chicago":"Müller, Jens, and Vanessa Gawehn. <i>Tax Avoidance - Are Banks Any Different?</i>, 2019.","apa":"Müller, J., &#38; Gawehn, V. (2019). <i>Tax Avoidance - Are Banks Any Different?</i>","ieee":"J. Müller and V. Gawehn, <i>Tax Avoidance - Are Banks Any Different?</i> 2019.","ama":"Müller J, Gawehn V. <i>Tax Avoidance - Are Banks Any Different?</i>; 2019.","bibtex":"@book{Müller_Gawehn_2019, title={Tax Avoidance - Are Banks Any Different?}, author={Müller, Jens and Gawehn, Vanessa}, year={2019} }","mla":"Müller, Jens, and Vanessa Gawehn. <i>Tax Avoidance - Are Banks Any Different?</i> 2019."},"user_id":"83776","language":[{"iso":"eng"}],"_id":"37346","date_updated":"2023-01-24T10:31:34Z","author":[{"id":"1245","full_name":"Müller, Jens","last_name":"Müller","first_name":"Jens"},{"id":"52547","full_name":"Gawehn, Vanessa","last_name":"Gawehn","first_name":"Vanessa"}],"title":"Tax Avoidance - Are Banks Any Different?","year":"2019","status":"public"},{"citation":{"chicago":"Asenkerschbaumer, Stefan, and Caren Sureth-Sloane. “Aus Daten müssen Informationen werden.” <i>Frankfurter Allgemeine Zeitung</i>, 2019.","short":"S. Asenkerschbaumer, C. Sureth-Sloane, Frankfurter Allgemeine Zeitung (2019).","ieee":"S. Asenkerschbaumer and C. Sureth-Sloane, “Aus Daten müssen Informationen werden,” <i>Frankfurter Allgemeine Zeitung</i>, no. 209, 2019.","apa":"Asenkerschbaumer, S., &#38; Sureth-Sloane, C. (2019). Aus Daten müssen Informationen werden. <i>Frankfurter Allgemeine Zeitung</i>, <i>209</i>.","bibtex":"@article{Asenkerschbaumer_Sureth-Sloane_2019, title={Aus Daten müssen Informationen werden}, number={209}, journal={Frankfurter Allgemeine Zeitung}, author={Asenkerschbaumer, Stefan and Sureth-Sloane, Caren}, year={2019} }","ama":"Asenkerschbaumer S, Sureth-Sloane C. Aus Daten müssen Informationen werden. <i>Frankfurter Allgemeine Zeitung</i>. 2019.","mla":"Asenkerschbaumer, Stefan, and Caren Sureth-Sloane. “Aus Daten müssen Informationen werden.” <i>Frankfurter Allgemeine Zeitung</i>, no. 209, 2019."},"issue":"209","publication":"Frankfurter Allgemeine Zeitung","department":[{"_id":"187"}],"type":"newspaper_article","date_created":"2019-11-13T08:16:56Z","date_updated":"2023-07-13T13:10:29Z","publication_status":"published","author":[{"last_name":"Asenkerschbaumer","first_name":"Stefan","full_name":"Asenkerschbaumer, Stefan"},{"id":"530","orcid":" 0000-0002-8183-5901","last_name":"Sureth-Sloane","first_name":"Caren","full_name":"Sureth-Sloane, Caren"}],"status":"public","title":"Aus Daten müssen Informationen werden","year":"2019","publication_date":"2019-09-09","user_id":"68544","language":[{"iso":"ger"}],"_id":"14903","page":"18"},{"volume":66,"user_id":"115848","_id":"20688","page":"1756-1782","status":"public","quality_controlled":"1","citation":{"ama":"Hüther N, Robinson DT, Sievers S, Hartmann-Wendels T. Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships. <i>Management Science (VHB-JOURQUAL 4 Ranking A+)</i>. 2019;66(4):1756-1782. doi:<a href=\"https://doi.org/10.1287/mnsc.2018.3274\">10.1287/mnsc.2018.3274</a>","bibtex":"@article{Hüther_Robinson_Sievers_Hartmann-Wendels_2019, title={Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships}, volume={66}, DOI={<a href=\"https://doi.org/10.1287/mnsc.2018.3274\">10.1287/mnsc.2018.3274</a>}, number={4}, journal={Management Science (VHB-JOURQUAL 4 Ranking A+)}, author={Hüther, Niklas and Robinson, David T. and Sievers, Sönke and Hartmann-Wendels, Thomas}, year={2019}, pages={1756–1782} }","mla":"Hüther, Niklas, et al. “Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships.” <i>Management Science (VHB-JOURQUAL 4 Ranking A+)</i>, vol. 66, no. 4, 2019, pp. 1756–82, doi:<a href=\"https://doi.org/10.1287/mnsc.2018.3274\">10.1287/mnsc.2018.3274</a>.","chicago":"Hüther, Niklas, David T. Robinson, Sönke Sievers, and Thomas Hartmann-Wendels. “Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships.” <i>Management Science (VHB-JOURQUAL 4 Ranking A+)</i> 66, no. 4 (2019): 1756–82. <a href=\"https://doi.org/10.1287/mnsc.2018.3274\">https://doi.org/10.1287/mnsc.2018.3274</a>.","short":"N. Hüther, D.T. Robinson, S. Sievers, T. Hartmann-Wendels, Management Science (VHB-JOURQUAL 4 Ranking A+) 66 (2019) 1756–1782.","apa":"Hüther, N., Robinson, D. T., Sievers, S., &#38; Hartmann-Wendels, T. (2019). Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships. <i>Management Science (VHB-JOURQUAL 4 Ranking A+)</i>, <i>66</i>(4), 1756–1782. <a href=\"https://doi.org/10.1287/mnsc.2018.3274\">https://doi.org/10.1287/mnsc.2018.3274</a>","ieee":"N. Hüther, D. T. Robinson, S. Sievers, and T. Hartmann-Wendels, “Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships,” <i>Management Science (VHB-JOURQUAL 4 Ranking A+)</i>, vol. 66, no. 4, pp. 1756–1782, 2019, doi: <a href=\"https://doi.org/10.1287/mnsc.2018.3274\">10.1287/mnsc.2018.3274</a>."},"doi":"10.1287/mnsc.2018.3274","language":[{"iso":"eng"}],"main_file_link":[{"url":"https://pubsonline.informs.org/doi/10.1287/mnsc.2018.3274"}],"article_type":"original","intvolume":"        66","publication_status":"published","date_updated":"2026-04-09T08:27:26Z","publication_identifier":{"issn":["0025-1909","1526-5501"]},"author":[{"last_name":"Hüther","first_name":"Niklas","full_name":"Hüther, Niklas"},{"full_name":"Robinson, David T.","first_name":"David T.","last_name":"Robinson"},{"id":"46447","first_name":"Sönke","last_name":"Sievers","full_name":"Sievers, Sönke"},{"full_name":"Hartmann-Wendels, Thomas","last_name":"Hartmann-Wendels","first_name":"Thomas"}],"year":"2019","title":"Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships","department":[{"_id":"275"}],"keyword":["venture capital","compensation","private equity","VC partnership","pay-performance relation"],"type":"journal_article","date_created":"2020-12-08T13:19:35Z","abstract":[{"lang":"eng","text":"We offer the first empirical analysis connecting the timing of general partner (GP) compensation to private equity fund performance. Using detailed information on limited partnership agreements between private equity limited and general partners, we find that “GP-friendly” contracts—agreements that pay general partners on a deal-by-deal basis instead of withholding carried interest until a benchmark return has been earned—are associated with higher returns, both gross and net of fees. This is robust to measures of performance persistence, time period effects, and other contract terms and is related to exit-timing incentives. Timing practices balance GP incentives against limited partner downside protection."}],"related_material":{"link":[{"url":"https://pubsonline.informs.org/doi/suppl/10.1287/mnsc.2018.3274/suppl_file/mnsc.2018.3274.sm1.pdf","relation":"supplementary_material"},{"relation":"other","url":"https://corpgov.law.harvard.edu/2018/01/13/paying-for-performance-in-private-equity-evidence-from-vc-partnerships"},{"url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3087320","relation":"earlier_version"}]},"publication":"Management Science (VHB-JOURQUAL 4 Ranking A+)","issue":"4"},{"page":"599-626","main_file_link":[{"url":"https://link.springer.com/article/10.1007/s11573-019-00929-2"}],"_id":"21427","language":[{"iso":"eng"}],"user_id":"96670","volume":89,"title":"Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption","status":"public","year":"2019","author":[{"full_name":"Diller, Markus","last_name":"Diller","first_name":"Markus"},{"first_name":"Thomas","last_name":"Späth","full_name":"Späth, Thomas"},{"full_name":"Lorenz, Johannes","last_name":"Lorenz","first_name":"Johannes"}],"date_updated":"2026-04-09T08:55:33Z","intvolume":"        89","date_created":"2021-03-09T09:57:12Z","type":"journal_article","department":[{"_id":"187"}],"publication":"Journal of Business Economics","issue":"5","citation":{"short":"M. Diller, T. Späth, J. Lorenz, Journal of Business Economics 89 (2019) 599–626.","chicago":"Diller, Markus, Thomas Späth, and Johannes Lorenz. “Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption.” <i>Journal of Business Economics</i> 89, no. 5 (2019): 599–626.","apa":"Diller, M., Späth, T., &#38; Lorenz, J. (2019). Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption. <i>Journal of Business Economics</i>, <i>89</i>(5), 599–626.","ieee":"M. Diller, T. Späth, and J. Lorenz, “Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption,” <i>Journal of Business Economics</i>, vol. 89, no. 5, pp. 599–626, 2019.","ama":"Diller M, Späth T, Lorenz J. Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption. <i>Journal of Business Economics</i>. 2019;89(5):599-626.","bibtex":"@article{Diller_Späth_Lorenz_2019, title={Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption}, volume={89}, number={5}, journal={Journal of Business Economics}, author={Diller, Markus and Späth, Thomas and Lorenz, Johannes}, year={2019}, pages={599–626} }","mla":"Diller, Markus, et al. “Inheritance Tax Planning with Uncertain Future Payroll Expenses: An Analytical Solution to the Optimal Choice between Full and Standard Exemption.” <i>Journal of Business Economics</i>, vol. 89, no. 5, 2019, pp. 599–626."},"abstract":[{"lang":"eng","text":"Under the German Inheritance Tax and Gift Tax Act, the transfer of business assets can be exempted from taxation up to 100%. However, this exemption depends on the evolution of the company’s payroll, which is highly uncertain. We model the uncertain nature of payroll evolution using a Geometric Brownian motion. We obtain closed-form solutions for the expected effective exemption and for the expected effective tax rate. We find that the uncertainty effect is most pronounced for moderate negative and positive growth rates. Furthermore, higher uncertainty reduces the value of the effective tax exemption. Also, we find that the (partially progressive) German inheritance tax function by trend promotes standard exemption. The results enable tax planners to make an optimal choice between standard or full exemption and allow for calculating the expected tax burden."}],"quality_controlled":"1"},{"date_updated":"2026-04-09T08:55:10Z","intvolume":"        29","title":"Population Dynamics of Tax Avoidance with Crowding Effects","year":"2019","status":"public","author":[{"first_name":"Johannes","last_name":"Lorenz","full_name":"Lorenz, Johannes"}],"user_id":"96670","doi":"10.1007/s00191-018-0572-6","volume":29,"page":"581-609","main_file_link":[{"url":"https://link.springer.com/article/10.1007/s00191-018-0572-6"}],"_id":"21424","language":[{"iso":"eng"}],"quality_controlled":"1","abstract":[{"lang":"eng","text":"There are two ways for taxpayers to avoid paying taxes: legal tax optimization and illegal tax evasion. The government reacts by altering the law, and by conducting audits, respectively. These phenomena are modeled as a strategic interaction between all taxpayers: the more taxpayers optimize, the lower the optimization result as a consequence of the government tightening the tax law. The more taxpayers evade, the higher the risk of detection because of the tax agencies increasing the audit probability. It emerges that, in equilibrium, the population shares of optimizers and evaders are not interdependent; rather, they both increase to the detriment of the share of non-optimizing taxpayers. If the government reacts to changed optimization behavior with too large a delay, an equilibrium tax law cannot be reached. Tax codes should be updated rapidly in order to avoid a permanent change of the tax law, which is costly both for the legislator and the taxpayers facing legal uncertainty."}],"publication":"Journal of Evolutionary Economics","citation":{"chicago":"Lorenz, Johannes. “Population Dynamics of Tax Avoidance with Crowding Effects.” <i>Journal of Evolutionary Economics</i> 29 (2019): 581–609. <a href=\"https://doi.org/10.1007/s00191-018-0572-6\">https://doi.org/10.1007/s00191-018-0572-6</a>.","ama":"Lorenz J. Population Dynamics of Tax Avoidance with Crowding Effects. <i>Journal of Evolutionary Economics</i>. 2019;29:581-609. doi:<a href=\"https://doi.org/10.1007/s00191-018-0572-6\">10.1007/s00191-018-0572-6</a>","short":"J. Lorenz, Journal of Evolutionary Economics 29 (2019) 581–609.","bibtex":"@article{Lorenz_2019, title={Population Dynamics of Tax Avoidance with Crowding Effects}, volume={29}, DOI={<a href=\"https://doi.org/10.1007/s00191-018-0572-6\">10.1007/s00191-018-0572-6</a>}, journal={Journal of Evolutionary Economics}, author={Lorenz, Johannes}, year={2019}, pages={581–609} }","apa":"Lorenz, J. (2019). Population Dynamics of Tax Avoidance with Crowding Effects. <i>Journal of Evolutionary Economics</i>, <i>29</i>, 581–609. <a href=\"https://doi.org/10.1007/s00191-018-0572-6\">https://doi.org/10.1007/s00191-018-0572-6</a>","mla":"Lorenz, Johannes. “Population Dynamics of Tax Avoidance with Crowding Effects.” <i>Journal of Evolutionary Economics</i>, vol. 29, 2019, pp. 581–609, doi:<a href=\"https://doi.org/10.1007/s00191-018-0572-6\">10.1007/s00191-018-0572-6</a>.","ieee":"J. Lorenz, “Population Dynamics of Tax Avoidance with Crowding Effects,” <i>Journal of Evolutionary Economics</i>, vol. 29, pp. 581–609, 2019, doi: <a href=\"https://doi.org/10.1007/s00191-018-0572-6\">10.1007/s00191-018-0572-6</a>."},"type":"journal_article","department":[{"_id":"187"}],"date_created":"2021-03-09T09:44:25Z"},{"title":"Violations of Dominance in Decision-Making","year":"2019","publication_identifier":{"issn":["2198-3402","2198-2627"]},"author":[{"id":"66936","full_name":"Kourouxous, Thomas","last_name":"Kourouxous","first_name":"Thomas"},{"first_name":"Thomas","last_name":"Bauer","full_name":"Bauer, Thomas"}],"date_updated":"2026-04-09T08:56:23Z","publication_status":"published","intvolume":"        12","main_file_link":[{"url":"https://link.springer.com/article/10.1007/s40685-019-0093-7"}],"language":[{"iso":"eng"}],"doi":"10.1007/s40685-019-0093-7","issue":"1","publication":"Business Research","abstract":[{"text":"A key premise underlying most of the economic literature is that rational decision-makers will choose dominant strategies over dominated alternatives. However, prior literature in various disciplines including business, psychology, and economics document a series of phenomena associated with violations of the dominance principle in decision-making. In this comprehensive review, we discuss conditions under which people violate the dominance principle in decision-making. When presenting violations of dominance in empirical and experimental studies, we differentiate between absolute, statewise, and stochastic (first- and second-order) violations of dominance. Furthermore, we categorize the literature by the leading causes for dominance violations: framing, reference points, certainty effects, bounded rationality, and emotional responses.","lang":"eng"}],"date_created":"2019-11-13T08:27:11Z","type":"journal_article","department":[{"_id":"187"},{"_id":"635"}],"status":"public","page":"209-239","_id":"14905","user_id":"96670","volume":12,"citation":{"chicago":"Kourouxous, Thomas, and Thomas Bauer. “Violations of Dominance in Decision-Making.” <i>Business Research</i> 12, no. 1 (2019): 209–39. <a href=\"https://doi.org/10.1007/s40685-019-0093-7\">https://doi.org/10.1007/s40685-019-0093-7</a>.","short":"T. Kourouxous, T. Bauer, Business Research 12 (2019) 209–239.","ieee":"T. Kourouxous and T. Bauer, “Violations of Dominance in Decision-Making,” <i>Business Research</i>, vol. 12, no. 1, pp. 209–239, 2019, doi: <a href=\"https://doi.org/10.1007/s40685-019-0093-7\">10.1007/s40685-019-0093-7</a>.","apa":"Kourouxous, T., &#38; Bauer, T. (2019). Violations of Dominance in Decision-Making. <i>Business Research</i>, <i>12</i>(1), 209–239. <a href=\"https://doi.org/10.1007/s40685-019-0093-7\">https://doi.org/10.1007/s40685-019-0093-7</a>","bibtex":"@article{Kourouxous_Bauer_2019, title={Violations of Dominance in Decision-Making}, volume={12}, DOI={<a href=\"https://doi.org/10.1007/s40685-019-0093-7\">10.1007/s40685-019-0093-7</a>}, number={1}, journal={Business Research}, author={Kourouxous, Thomas and Bauer, Thomas}, year={2019}, pages={209–239} }","ama":"Kourouxous T, Bauer T. Violations of Dominance in Decision-Making. <i>Business Research</i>. 2019;12(1):209-239. doi:<a href=\"https://doi.org/10.1007/s40685-019-0093-7\">10.1007/s40685-019-0093-7</a>","mla":"Kourouxous, Thomas, and Thomas Bauer. “Violations of Dominance in Decision-Making.” <i>Business Research</i>, vol. 12, no. 1, 2019, pp. 209–39, doi:<a href=\"https://doi.org/10.1007/s40685-019-0093-7\">10.1007/s40685-019-0093-7</a>."},"quality_controlled":"1"},{"citation":{"bibtex":"@article{Majdanska_Wu_2019, title={Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs}, volume={93}, number={10}, journal={Tax Notes International}, author={Majdanska, Alicja and Wu, Yuchen}, year={2019}, pages={1045–1065} }","ama":"Majdanska A, Wu Y. Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs. <i>Tax Notes International</i>. 2019;93(10):1045-1065.","short":"A. Majdanska, Y. Wu, Tax Notes International 93 (2019) 1045–1065.","chicago":"Majdanska, Alicja, and Yuchen Wu. “Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs.” <i>Tax Notes International</i> 93, no. 10 (2019): 1045–65.","ieee":"A. Majdanska and Y. Wu, “Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs,” <i>Tax Notes International</i>, vol. 93, no. 10, pp. 1045–1065, 2019.","mla":"Majdanska, Alicja, and Yuchen Wu. “Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs.” <i>Tax Notes International</i>, vol. 93, no. 10, 2019, pp. 1045–65.","apa":"Majdanska, A., &#38; Wu, Y. (2019). Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs. <i>Tax Notes International</i>, <i>93</i>(10), 1045–1065."},"issue":"10","publication":"Tax Notes International","quality_controlled":"1","date_created":"2019-11-13T08:37:26Z","department":[{"_id":"187"}],"type":"journal_article","author":[{"full_name":"Majdanska, Alicja","last_name":"Majdanska","first_name":"Alicja"},{"full_name":"Wu, Yuchen","last_name":"Wu","first_name":"Yuchen"}],"year":"2019","title":"Using Impact Evaluation to Examine Domestic and International Cooperative Compliance Programs","status":"public","intvolume":"        93","date_updated":"2026-04-09T08:55:46Z","publication_status":"published","language":[{"iso":"eng"}],"_id":"14910","page":"1045-1065","volume":93,"user_id":"96670"},{"publication":"Journal of Banking & Finance","citation":{"bibtex":"@article{Pelster_Hofmann_2018, title={About the Fear of Reputational Loss: Social Trading and the Disposition Effect}, DOI={<a href=\"https://doi.org/10.1016/j.jbankfin.2018.07.003\">10.1016/j.jbankfin.2018.07.003</a>}, journal={Journal of Banking &#38; Finance}, author={Pelster, Matthias and Hofmann, Annette}, year={2018} }","ama":"Pelster M, Hofmann A. About the Fear of Reputational Loss: Social Trading and the Disposition Effect. <i>Journal of Banking &#38; Finance</i>. 2018. doi:<a href=\"https://doi.org/10.1016/j.jbankfin.2018.07.003\">10.1016/j.jbankfin.2018.07.003</a>","mla":"Pelster, Matthias, and Annette Hofmann. “About the Fear of Reputational Loss: Social Trading and the Disposition Effect.” <i>Journal of Banking &#38; Finance</i>, 2018, doi:<a href=\"https://doi.org/10.1016/j.jbankfin.2018.07.003\">10.1016/j.jbankfin.2018.07.003</a>.","chicago":"Pelster, Matthias, and Annette Hofmann. “About the Fear of Reputational Loss: Social Trading and the Disposition Effect.” <i>Journal of Banking &#38; Finance</i>, 2018. <a href=\"https://doi.org/10.1016/j.jbankfin.2018.07.003\">https://doi.org/10.1016/j.jbankfin.2018.07.003</a>.","short":"M. Pelster, A. Hofmann, Journal of Banking &#38; Finance (2018).","ieee":"M. Pelster and A. Hofmann, “About the Fear of Reputational Loss: Social Trading and the Disposition Effect,” <i>Journal of Banking &#38; Finance</i>, 2018.","apa":"Pelster, M., &#38; Hofmann, A. (2018). About the Fear of Reputational Loss: Social Trading and the Disposition Effect. <i>Journal of Banking &#38; Finance</i>. <a href=\"https://doi.org/10.1016/j.jbankfin.2018.07.003\">https://doi.org/10.1016/j.jbankfin.2018.07.003</a>"},"date_created":"2018-07-10T08:13:12Z","type":"journal_article","department":[{"_id":"186"},{"_id":"578"}],"year":"2018","title":"About the Fear of Reputational Loss: Social Trading and the Disposition Effect","status":"public","author":[{"last_name":"Pelster","orcid":" https://orcid.org/0000-0001-5740-2420","first_name":"Matthias","full_name":"Pelster, Matthias","id":"67265"},{"full_name":"Hofmann, Annette","last_name":"Hofmann","first_name":"Annette"}],"date_updated":"2022-01-06T06:59:21Z","_id":"3520","doi":"10.1016/j.jbankfin.2018.07.003","user_id":"67265"},{"publisher":"Kluwer Law International","_id":"3902","page":"654-675","volume":46,"user_id":"68607","ddc":["330"],"status":"public","has_accepted_license":"1","citation":{"bibtex":"@article{Hoppe_Schanz_Sturm_Sureth-Sloane_2018, title={What are the Drivers of Tax Complexity for MNCs? Global Evidence}, volume={46}, number={8/9}, journal={Intertax}, publisher={Kluwer Law International}, author={Hoppe, Thomas and Schanz, Deborah and Sturm, Susann and Sureth-Sloane, Caren}, year={2018}, pages={654–675} }","ama":"Hoppe T, Schanz D, Sturm S, Sureth-Sloane C. What are the Drivers of Tax Complexity for MNCs? Global Evidence. <i>Intertax</i>. 2018;46(8/9):654-675.","mla":"Hoppe, Thomas, et al. “What Are the Drivers of Tax Complexity for MNCs? Global Evidence.” <i>Intertax</i>, vol. 46, no. 8/9, Kluwer Law International, 2018, pp. 654–75.","chicago":"Hoppe, Thomas, Deborah Schanz, Susann Sturm, and Caren Sureth-Sloane. “What Are the Drivers of Tax Complexity for MNCs? Global Evidence.” <i>Intertax</i> 46, no. 8/9 (2018): 654–75.","short":"T. Hoppe, D. Schanz, S. Sturm, C. Sureth-Sloane, Intertax 46 (2018) 654–675.","ieee":"T. Hoppe, D. Schanz, S. Sturm, and C. Sureth-Sloane, “What are the Drivers of Tax Complexity for MNCs? Global Evidence,” <i>Intertax</i>, vol. 46, no. 8/9, pp. 654–675, 2018.","apa":"Hoppe, T., Schanz, D., Sturm, S., &#38; Sureth-Sloane, C. (2018). What are the Drivers of Tax Complexity for MNCs? Global Evidence. <i>Intertax</i>, <i>46</i>(8/9), 654–675."},"file_date_updated":"2019-03-02T12:25:33Z","project":[{"grant_number":"P01","_id":"37","name":"Der Einfluss von steuerlicher Regulierung auf multinationale Unternehmen"}],"quality_controlled":"1","language":[{"iso":"eng"}],"author":[{"id":"22671","full_name":"Hoppe, Thomas","last_name":"Hoppe","first_name":"Thomas"},{"full_name":"Schanz, Deborah","first_name":"Deborah","last_name":"Schanz"},{"first_name":"Susann","last_name":"Sturm","full_name":"Sturm, Susann"},{"last_name":"Sureth-Sloane","first_name":"Caren","full_name":"Sureth-Sloane, Caren","id":"530"}],"publication_identifier":{"issn":["\t0165-2826"]},"year":"2018","title":"What are the Drivers of Tax Complexity for MNCs? 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This is surprising as the latest developments-for example, those triggered by the BEPS project-have given rise to the conjecture that complexity drivers may have changed, thus questioning the findings of prior studies. In this article, we shed light on this issue and provide a global picture of the current drivers of tax complexity that multinational corporations face based on a survey of 221 highly experienced tax consultants from 108 countries. Our results show that prior complexity drivers of the tax code are still important, with details and changes of tax regulations being the two most important complexity drivers. We also find evidence for new important complexity drivers emerging from different areas of the tax framework, such as inconsistent decisions among tax officers (tax audits) or retroactively applied tax law amendments (tax enactment). Based on the tax consultants' responses, we develop a concept of tax complexity that is characterized by two pillars, tax code and tax framework complexity and illustrates the various aspects that should be considered when assessing the complexity of a country's tax system."}]},{"type":"report","department":[{"_id":"275"}],"date_created":"2021-01-06T08:39:28Z","citation":{"short":"S. Sievers, G. Keienburg, T. Schmid, D. Degen, Synergies Take Center Stage, The Boston Consulting Group, Inc., M&#38;A Report, 2018.","chicago":"Sievers, Sönke, Georg Keienburg, Timo Schmid, and Dominik Degen. <i>Synergies Take Center Stage</i>. The Boston Consulting Group, Inc., M&#38;A Report, 2018.","apa":"Sievers, S., Keienburg, G., Schmid, T., &#38; Degen, D. (2018). <i>Synergies Take Center Stage</i>. The Boston Consulting Group, Inc., M&#38;A Report.","ieee":"S. Sievers, G. Keienburg, T. Schmid, and D. Degen, <i>Synergies Take Center Stage</i>. 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(2018). <i>Update on the M&#38;A market entitled As Prices Peak, Should Dealmakers wait for the next Downturn?</i> The Boston Consulting Group, Inc., M&#38;A Report.","ieee":"S. Sievers, D. Degen, G. Keienburg, T. Schmid, and J. Kengelbach, <i>Update on the M&#38;A market entitled As Prices Peak, Should Dealmakers wait for the next Downturn?</i> The Boston Consulting Group, Inc., M&#38;A Report, 2018.","short":"S. Sievers, D. Degen, G. Keienburg, T. Schmid, J. 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Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltunsplanung. In: Betz S, ed. <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>. 2nd ed. Hamburg; 2018:87-116.","short":"S. Betz, in: S. Betz (Ed.), Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik, 2nd ed., Hamburg, 2018, pp. 87–116.","chicago":"Betz, Stefan. “Operative Handlungsempfehlungen Für Eine Kostenorientierte Instandhaltunsplanung.” In <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>, edited by Stefan Betz, 2nd ed., 87–116. Hamburg, 2018.","bibtex":"@inbook{Betz_2018, place={Hamburg}, edition={2}, title={Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltunsplanung}, booktitle={Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik}, author={Betz, Stefan}, editor={Betz, StefanEditor}, year={2018}, pages={87–116} }","mla":"Betz, Stefan. “Operative Handlungsempfehlungen Für Eine Kostenorientierte Instandhaltunsplanung.” <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>, edited by Stefan Betz, 2nd ed., 2018, pp. 87–116.","apa":"Betz, S. (2018). Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltunsplanung. In S. Betz (Ed.), <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i> (2nd ed., pp. 87–116). Hamburg.","ieee":"S. Betz, “Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltunsplanung,” in <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, 2nd ed., S. Betz, Ed. Hamburg, 2018, pp. 87–116."},"publication":"Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik"},{"publication":"Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik","citation":{"bibtex":"@inbook{Betz_2018, place={Hamburg}, edition={2}, title={Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen}, booktitle={Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik}, author={Betz, Stefan}, editor={Betz, StefanEditor}, year={2018}, pages={147–178} }","ama":"Betz S. Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen. In: Betz S, ed. <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>. 2nd ed. Hamburg; 2018:147-178.","mla":"Betz, Stefan. “Innovationsrisikomanagement Bei Unsicheren Cash-Flow-Prognosen.” <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>, edited by Stefan Betz, 2nd ed., 2018, pp. 147–78.","chicago":"Betz, Stefan. “Innovationsrisikomanagement Bei Unsicheren Cash-Flow-Prognosen.” In <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>, edited by Stefan Betz, 2nd ed., 147–78. Hamburg, 2018.","short":"S. Betz, in: S. Betz (Ed.), Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik, 2nd ed., Hamburg, 2018, pp. 147–178.","ieee":"S. Betz, “Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen,” in <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, 2nd ed., S. Betz, Ed. Hamburg, 2018, pp. 147–178.","apa":"Betz, S. (2018). Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen. In S. Betz (Ed.), <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i> (2nd ed., pp. 147–178). Hamburg."},"date_created":"2018-10-25T10:32:40Z","place":"Hamburg","type":"book_chapter","department":[{"_id":"193"}],"title":"Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen","year":"2018","status":"public","author":[{"id":"54","full_name":"Betz, Stefan","first_name":"Stefan","last_name":"Betz"}],"date_updated":"2022-01-06T07:01:27Z","page":"147-178","edition":"2","_id":"4866","user_id":"21811","editor":[{"first_name":"Stefan","last_name":"Betz","full_name":"Betz, Stefan"}]},{"title":"Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik","year":"2018","status":"public","date_updated":"2022-01-06T07:01:27Z","edition":"2","_id":"4867","editor":[{"first_name":"Stefan","last_name":"Betz","full_name":"Betz, Stefan","id":"54"}],"user_id":"21811","citation":{"ama":"Betz S, ed. <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>. 2nd ed. Hamburg; 2018.","bibtex":"@book{Betz_2018, place={Hamburg}, edition={2}, title={Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik}, year={2018} }","mla":"Betz, Stefan, editor. <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>. 2nd ed., 2018.","chicago":"Betz, Stefan, ed. <i>Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik</i>. 2nd ed. Hamburg, 2018.","short":"S. Betz, ed., Industrielles Controlling - Planung, Steuerung Und Kontrolle von Beschaffung, Produktion Und Logistik, 2nd ed., Hamburg, 2018.","apa":"Betz, S. (Ed.). (2018). <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i> (2nd ed.). Hamburg.","ieee":"S. Betz, Ed., <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, 2nd ed. Hamburg, 2018."},"date_created":"2018-10-25T10:34:05Z","place":"Hamburg","department":[{"_id":"193"}],"type":"book_editor"},{"language":[{"iso":"ger"}],"_id":"4394","user_id":"72091","status":"public","title":"Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG","year":"2018","author":[{"first_name":"Markus","last_name":"Schümmer","full_name":"Schümmer, Markus"},{"first_name":"Johannes","last_name":"Leusder","full_name":"Leusder, Johannes"},{"full_name":"Weinrich, Arndt","last_name":"Weinrich","first_name":"Arndt","orcid":"0000-0002-3983-0269","id":"72091"}],"jel":["H2","M41"],"publication_status":"published","date_updated":"2022-01-06T07:01:00Z","article_type":"original","date_created":"2018-09-14T08:42:16Z","keyword":["Effektive Besteuerung von Outbound-Investitionen in den USA Qualifikation von Einkünften als passiv  Anwendung des Motivtests auf die USA"],"type":"journal_article","department":[{"_id":"186"},{"_id":"189"}],"publication":"IStR Internationales Steuerrecht","citation":{"ieee":"M. Schümmer, J. Leusder, and A. Weinrich, “Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG,” <i>IStR Internationales Steuerrecht</i>, 2018.","apa":"Schümmer, M., Leusder, J., &#38; Weinrich, A. (2018). Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG. <i>IStR Internationales Steuerrecht</i>.","short":"M. Schümmer, J. Leusder, A. Weinrich, IStR Internationales Steuerrecht (2018).","chicago":"Schümmer, Markus, Johannes Leusder, and Arndt Weinrich. “Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG.” <i>IStR Internationales Steuerrecht</i>, 2018.","mla":"Schümmer, Markus, et al. “Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG.” <i>IStR Internationales Steuerrecht</i>, 2018.","bibtex":"@article{Schümmer_Leusder_Weinrich_2018, title={Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG}, journal={IStR Internationales Steuerrecht}, author={Schümmer, Markus and Leusder, Johannes and Weinrich, Arndt}, year={2018} }","ama":"Schümmer M, Leusder J, Weinrich A. Implikationen der US-Steuerreform auf die Hinzurechnungsbesteuerung nach dem AStG. <i>IStR Internationales Steuerrecht</i>. 2018."},"extern":"1","abstract":[{"text":"    1. Effektive Besteuerung von Outbound-Investitionen in den USA\r\n    2. Qualifikation von Einkünften als passiv\r\n    3. Anwendung des Motivtests auf die USA?\r\n    4. Fazit und Ausblick","lang":"eng"}]},{"main_file_link":[{"url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3114054_code1908122.pdf?abstractid=3114054&mirid=1","open_access":"1"}],"_id":"5007","language":[{"iso":"eng"}],"series_title":"WU International Taxation Research Paper Series","user_id":"68607","volume":"No. 2018-04","status":"public","year":"2018","title":"Tax Avoidance and Accounting Conservatism","author":[{"last_name":"Bornemann","first_name":"Tobias","full_name":"Bornemann, Tobias"}],"date_updated":"2022-01-06T07:01:34Z","date_created":"2018-10-30T12:14:40Z","type":"working_paper","department":[{"_id":"187"}],"oa":"1","citation":{"ieee":"T. Bornemann, <i>Tax Avoidance and Accounting Conservatism</i>, vol. No. 2018-04. 2018.","mla":"Bornemann, Tobias. <i>Tax Avoidance and Accounting Conservatism</i>. Vol. No. 2018-04, 2018.","apa":"Bornemann, T. (2018). <i>Tax Avoidance and Accounting Conservatism</i> (Vol. No. 2018-04).","bibtex":"@book{Bornemann_2018, series={WU International Taxation Research Paper Series}, title={Tax Avoidance and Accounting Conservatism}, volume={No. 2018-04}, author={Bornemann, Tobias}, year={2018}, collection={WU International Taxation Research Paper Series} }","chicago":"Bornemann, Tobias. <i>Tax Avoidance and Accounting Conservatism</i>. Vol. No. 2018-04. WU International Taxation Research Paper Series, 2018.","short":"T. Bornemann, Tax Avoidance and Accounting Conservatism, 2018.","ama":"Bornemann T. <i>Tax Avoidance and Accounting Conservatism</i>. Vol No. 2018-04.; 2018."},"abstract":[{"text":"This study analyzes the relation between accounting conservatism, future tax rate cuts and countries’ level of book-tax conformity. Firms have an incentive to increase conservatism in financial reporting when a tax rate cut is imminent to shift taxable income into the lower taxed future. Using a panel of firms across 18 countries from 1995 to 2010 I find that conditional conservatism is positively and significantly associated with future tax rate cuts when book-tax conformity is high. This effect is particularly pronounced for firms that concentrate the majority of their operations in the country in which the tax rate is cut. In contrast, there is no significant relation between future tax rate cuts and unconditional conservatism.","lang":"eng"}]},{"date_updated":"2022-01-06T07:01:34Z","author":[{"first_name":"Tobias","last_name":"Bornemann","full_name":"Bornemann, Tobias"}],"year":"2018","status":"public","title":"Do Transfer Pricing Rules Distort R&D Investment Decisions?","volume":"No. 2018-02","user_id":"68607","_id":"5008","series_title":"WU International Taxation Research Paper Series","language":[{"iso":"eng"}],"main_file_link":[{"url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3114071"}],"abstract":[{"text":"This study analyzes the impact of transfer pricing on multinational enterprises’ R&D investment decisions. Specifically, I examine the effects of two commonly used contract designs to exchange and develop intangible assets across group affiliates: licensing and cost sharing agreements. Whilst serving as a tool to allocate taxable income between group affiliates, the economic implications of licensing and cost sharing agreements differ. Whereas licensing agreements provide for a sharing rule on the intangible’s profits, cost sharing agreements on the other hand provide a sharing rule on R&D development costs. This difference matters when firms simultaneously use internal transfer prices to allocate taxable income and provide local management with sufficient investment incentives. Using a multiple-agent, moral hazard investment framework I model a multinational firm with comparable group affiliates in two countries that delegates the R&D investment decision to a local risk and effort averse affiliate manager. The results suggest that the optimal contract not only depends on available tax benefits, but also on R&D investment and manager specific characteristics. A licensing agreement provides management with larger incentives to invest in R&D mitigating agency concerns associated with R&D. On the other hand, using a cost sharing agreement the firm can cater different risk preferences among managers potentially increasing investment. The arm’s length principle however may distort an efficient allocation of R&D costs when using a cost sharing agreement.","lang":"eng"}],"citation":{"mla":"Bornemann, Tobias. <i>Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?</i> Vol. No. 2018-02, 2018.","ama":"Bornemann T. <i>Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?</i> Vol No. 2018-02.; 2018.","bibtex":"@book{Bornemann_2018, series={WU International Taxation Research Paper Series}, title={Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?}, volume={No. 2018-02}, author={Bornemann, Tobias}, year={2018}, collection={WU International Taxation Research Paper Series} }","apa":"Bornemann, T. (2018). <i>Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?</i> (Vol. No. 2018-02).","ieee":"T. Bornemann, <i>Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?</i>, vol. No. 2018-02. 2018.","chicago":"Bornemann, Tobias. <i>Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?</i> Vol. No. 2018-02. WU International Taxation Research Paper Series, 2018.","short":"T. Bornemann, Do Transfer Pricing Rules Distort R&#38;D Investment Decisions?, 2018."},"department":[{"_id":"187"}],"type":"working_paper","date_created":"2018-10-30T12:16:19Z"}]