[{"issue":"1","year":"2014","publisher":"Springer Science and Business Media LLC","date_created":"2023-10-10T09:17:53Z","title":"Modeling sequential R&amp;D investments: a binomial compound option approach","publication":"Business Research","abstract":[{"lang":"eng","text":"<jats:title>Abstract</jats:title><jats:p>In this paper, we propose a binomial approach to modeling sequential R&amp;D investments. More specifically, we present a compound real options approach, simplifying the existing valuation methodology. Based upon the same set of assumptions as prior models, we show that the number of computational steps for valuing any compound option can be reduced to a single step. We demonstrate the applicability of our approach using the real-world example of valuing a new drug application. Overall, our work provides a heuristic framework for fostering the adoption of binomial compound option valuation techniques in R&amp;D management.</jats:p>"}],"keyword":["Business","Management and Accounting (miscellaneous)"],"language":[{"iso":"eng"}],"publication_identifier":{"issn":["2198-3402","2198-2627"]},"publication_status":"published","intvolume":"         8","page":"39-59","citation":{"chicago":"Hauschild, Bastian, and Daniel Reimsbach. “Modeling Sequential R&#38;amp;D Investments: A Binomial Compound Option Approach.” <i>Business Research</i> 8, no. 1 (2014): 39–59. <a href=\"https://doi.org/10.1007/s40685-014-0017-5\">https://doi.org/10.1007/s40685-014-0017-5</a>.","ieee":"B. Hauschild and D. Reimsbach, “Modeling sequential R&#38;amp;D investments: a binomial compound option approach,” <i>Business Research</i>, vol. 8, no. 1, pp. 39–59, 2014, doi: <a href=\"https://doi.org/10.1007/s40685-014-0017-5\">10.1007/s40685-014-0017-5</a>.","ama":"Hauschild B, Reimsbach D. Modeling sequential R&#38;amp;D investments: a binomial compound option approach. <i>Business Research</i>. 2014;8(1):39-59. doi:<a href=\"https://doi.org/10.1007/s40685-014-0017-5\">10.1007/s40685-014-0017-5</a>","apa":"Hauschild, B., &#38; Reimsbach, D. (2014). Modeling sequential R&#38;amp;D investments: a binomial compound option approach. <i>Business Research</i>, <i>8</i>(1), 39–59. <a href=\"https://doi.org/10.1007/s40685-014-0017-5\">https://doi.org/10.1007/s40685-014-0017-5</a>","mla":"Hauschild, Bastian, and Daniel Reimsbach. “Modeling Sequential R&#38;amp;D Investments: A Binomial Compound Option Approach.” <i>Business Research</i>, vol. 8, no. 1, Springer Science and Business Media LLC, 2014, pp. 39–59, doi:<a href=\"https://doi.org/10.1007/s40685-014-0017-5\">10.1007/s40685-014-0017-5</a>.","short":"B. Hauschild, D. Reimsbach, Business Research 8 (2014) 39–59.","bibtex":"@article{Hauschild_Reimsbach_2014, title={Modeling sequential R&#38;amp;D investments: a binomial compound option approach}, volume={8}, DOI={<a href=\"https://doi.org/10.1007/s40685-014-0017-5\">10.1007/s40685-014-0017-5</a>}, number={1}, journal={Business Research}, publisher={Springer Science and Business Media LLC}, author={Hauschild, Bastian and Reimsbach, Daniel}, year={2014}, pages={39–59} }"},"date_updated":"2023-10-30T11:36:54Z","volume":8,"author":[{"full_name":"Hauschild, Bastian","last_name":"Hauschild","first_name":"Bastian"},{"id":"100169","full_name":"Reimsbach, Daniel","last_name":"Reimsbach","first_name":"Daniel"}],"doi":"10.1007/s40685-014-0017-5","type":"journal_article","status":"public","_id":"47908","department":[{"_id":"186"},{"_id":"815"}],"user_id":"21810"},{"supervisor":[{"first_name":"Stefan","last_name":"Betz","id":"54","full_name":"Betz, Stefan"}],"date_created":"2024-01-09T09:30:53Z","author":[{"full_name":"Puls, Christoph","last_name":"Puls","first_name":"Christoph"}],"date_updated":"2024-01-10T09:16:20Z","publisher":"Dr. Kovac","title":"Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen","publication_status":"published","publication_identifier":{"isbn":["978-3-8300-7989-7"]},"citation":{"short":"C. Puls, Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen, Dr. Kovac, Hamburg, 2014.","bibtex":"@book{Puls_2014, place={Hamburg}, title={Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen}, publisher={Dr. Kovac}, author={Puls, Christoph}, year={2014} }","mla":"Puls, Christoph. <i>Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen</i>. Dr. Kovac, 2014.","apa":"Puls, C. (2014). <i>Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen</i>. Dr. Kovac.","chicago":"Puls, Christoph. <i>Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen</i>. Hamburg: Dr. Kovac, 2014.","ieee":"C. Puls, <i>Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen</i>. Hamburg: Dr. Kovac, 2014.","ama":"Puls C. <i>Zielorientiertes Management von Logistikdienstleistungen in Netzwerken kooperierender Unternehmen</i>. Dr. Kovac; 2014."},"page":"247","place":"Hamburg","year":"2014","user_id":"21811","department":[{"_id":"193"}],"_id":"50371","language":[{"iso":"ger"}],"type":"dissertation","status":"public"},{"type":"dissertation","status":"public","_id":"50378","department":[{"_id":"193"}],"user_id":"21811","language":[{"iso":"ger"}],"publication_identifier":{"isbn":["978-3-8300-8244-6"]},"publication_status":"published","year":"2014","place":"Hamburg","page":"249","citation":{"ama":"Ortgiese M. <i>Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk</i>. Dr. Kovac; 2014.","ieee":"M. Ortgiese, <i>Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk</i>. Hamburg: Dr. Kovac, 2014.","chicago":"Ortgiese, Malte. <i>Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk</i>. Hamburg: Dr. Kovac, 2014.","short":"M. Ortgiese, Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk, Dr. Kovac, Hamburg, 2014.","bibtex":"@book{Ortgiese_2014, place={Hamburg}, title={Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk}, publisher={Dr. Kovac}, author={Ortgiese, Malte}, year={2014} }","mla":"Ortgiese, Malte. <i>Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk</i>. Dr. Kovac, 2014.","apa":"Ortgiese, M. (2014). <i>Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk</i>. Dr. Kovac."},"date_updated":"2024-01-10T09:18:50Z","publisher":"Dr. Kovac","date_created":"2024-01-09T10:57:18Z","author":[{"full_name":"Ortgiese, Malte","last_name":"Ortgiese","first_name":"Malte"}],"supervisor":[{"first_name":"Stefan","id":"54","full_name":"Betz, Stefan","last_name":"Betz"}],"title":"Integrierte Lagerstandort- und -kapazitätsplanung als Gegenstand der strategischen Logistk"},{"_id":"46059","user_id":"74000","department":[{"_id":"187"}],"language":[{"iso":"ger"}],"type":"dissertation","status":"public","date_updated":"2024-02-06T10:22:17Z","author":[{"first_name":"Pia","last_name":"Kortebusch","full_name":"Kortebusch, Pia"}],"date_created":"2023-07-13T13:54:48Z","title":"Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation","main_file_link":[{"url":"http://digital.ub.uni-paderborn.de/hs/content/titleinfo/1227762"}],"place":"Paderborn","year":"2014","citation":{"ama":"Kortebusch P. <i>Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation</i>.; 2014.","ieee":"P. Kortebusch, <i>Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation</i>. Paderborn, 2014.","chicago":"Kortebusch, Pia. <i>Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation</i>. Paderborn, 2014.","apa":"Kortebusch, P. (2014). <i>Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation</i>.","short":"P. Kortebusch, Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation, Paderborn, 2014.","bibtex":"@book{Kortebusch_2014, place={Paderborn}, title={Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation}, author={Kortebusch, Pia}, year={2014} }","mla":"Kortebusch, Pia. <i>Zur Attraktivität von Advance Tax Rulings (ATRs) und Advance Pricing Agreements (APAs) für Investoren und Steuerbehörden: The Attractiveness of Advance Tax Rulings (ATRs) and Advance Pricing Agreements(APAs) for Investors and Tax Authorities, Synopse zur Dissertation</i>. 2014."}},{"extern":"1","language":[{"iso":"eng"}],"department":[{"_id":"635"},{"_id":"186"},{"_id":"551"}],"user_id":"88603","_id":"37107","status":"public","type":"conference","conference":{"start_date":"2014-03-03","name":"DART Research Seminar","location":"Graz, Austria"},"title":"Does mandatory IFRS adoption facilitate debt financing? ","date_created":"2023-01-17T13:20:21Z","author":[{"first_name":"Annita","last_name":"Florou","full_name":"Florou, Annita"},{"first_name":"Urska","id":"54068","full_name":"Kosi, Urska","last_name":"Kosi"}],"date_updated":"2023-01-17T13:36:58Z","citation":{"ama":"Florou A, Kosi U. Does mandatory IFRS adoption facilitate debt financing? . In: ; 2014.","ieee":"A. Florou and U. Kosi, “Does mandatory IFRS adoption facilitate debt financing? ,” presented at the DART Research Seminar, Graz, Austria, 2014.","chicago":"Florou, Annita, and Urska Kosi. “Does Mandatory IFRS Adoption Facilitate Debt Financing? ,” 2014.","short":"A. Florou, U. Kosi, in: 2014.","mla":"Florou, Annita, and Urska Kosi. <i>Does Mandatory IFRS Adoption Facilitate Debt Financing? </i>. 2014.","bibtex":"@inproceedings{Florou_Kosi_2014, title={Does mandatory IFRS adoption facilitate debt financing? }, author={Florou, Annita and Kosi, Urska}, year={2014} }","apa":"Florou, A., &#38; Kosi, U. (2014). <i>Does mandatory IFRS adoption facilitate debt financing? </i>. DART Research Seminar, Graz, Austria."},"year":"2014"},{"_id":"37090","user_id":"88603","department":[{"_id":"635"},{"_id":"186"},{"_id":"551"}],"extern":"1","language":[{"iso":"eng"}],"type":"working_paper","status":"public","date_updated":"2023-01-18T14:02:24Z","date_created":"2023-01-17T12:52:18Z","author":[{"first_name":"Jernej","last_name":"Koren","full_name":"Koren, Jernej"},{"id":"54068","full_name":"Kosi, Urska","last_name":"Kosi","first_name":"Urska"},{"first_name":"Aljosa","last_name":"Valentincic","full_name":"Valentincic, Aljosa"}],"title":"Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk","year":"2014","citation":{"ieee":"J. Koren, U. Kosi, and A. Valentincic, <i>Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk</i>. 2014.","chicago":"Koren, Jernej, Urska Kosi, and Aljosa Valentincic. <i>Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk</i>, 2014.","apa":"Koren, J., Kosi, U., &#38; Valentincic, A. (2014). <i>Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk</i>.","ama":"Koren J, Kosi U, Valentincic A. <i>Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk</i>.; 2014.","bibtex":"@book{Koren_Kosi_Valentincic_2014, title={Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk}, author={Koren, Jernej and Kosi, Urska and Valentincic, Aljosa}, year={2014} }","short":"J. Koren, U. Kosi, A. Valentincic, Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk, 2014.","mla":"Koren, Jernej, et al. <i>Cost of Debt for Private Firms Revisited: Voluntary Audits as a Reflection of Risk</i>. 2014."}},{"publication":"Accounting in Europe","type":"journal_article","abstract":[{"lang":"eng","text":"This study examines the determinants of financial firms' lobbying behaviour in the replacement process of International Financial Reporting Standard 4 (IFRS 4) Insurance Contracts. Based on comment letters in response to International Accounting Standards Board's (IASB) Exposure Draft 2010/8, we investigate firms' lobbying decisions and their long-term lobbying intensity. Using an international sample of publicly listed financial firms, we show that insurance companies and financially constrained IFRS firms are more likely to lobby the IASB. We also examine the long-term lobbying activity in the IFRS 4 replacement process during the years 2007–2010. We find that insurance companies and firms with dispersed ownership lobby more. Our results are stronger for IFRS firms compared to US generally accepted accounting principles users. Overall, we document intense lobbying by financial firms and present results that are largely consistent with economic consequences of anticipated accounting changes being the main driver of firms' lobbying behaviour. These results are in line with prior findings for non-financial firms."}],"status":"public","_id":"4037","department":[{"_id":"551"},{"_id":"635"},{"_id":"186"}],"user_id":"54068","keyword":["standard setting","IASB","corporate lobbying","financial firms","IFRS 4"],"extern":"1","language":[{"iso":"eng"}],"publication_status":"published","issue":"1","year":"2014","page":"89-112","intvolume":"        11","citation":{"apa":"Kosi, U., &#38; Reither, A. (2014). Determinants of corporate participation in the IFRS 4 (insurance contracts) replacement process. <i>Accounting in Europe</i>, <i>11</i>(1), 89–112. <a href=\"https://doi.org/10.1080/17449480.2014.897459\">https://doi.org/10.1080/17449480.2014.897459</a>","bibtex":"@article{Kosi_Reither_2014, title={Determinants of corporate participation in the IFRS 4 (insurance contracts) replacement process}, volume={11}, DOI={<a href=\"https://doi.org/10.1080/17449480.2014.897459\">10.1080/17449480.2014.897459</a>}, number={1}, journal={Accounting in Europe}, author={Kosi, Urska and Reither, Antonia}, year={2014}, pages={89–112} }","short":"U. Kosi, A. Reither, Accounting in Europe 11 (2014) 89–112.","mla":"Kosi, Urska, and Antonia Reither. “Determinants of Corporate Participation in the IFRS 4 (Insurance Contracts) Replacement Process.” <i>Accounting in Europe</i>, vol. 11, no. 1, 2014, pp. 89–112, doi:<a href=\"https://doi.org/10.1080/17449480.2014.897459\">10.1080/17449480.2014.897459</a>.","chicago":"Kosi, Urska, and Antonia Reither. “Determinants of Corporate Participation in the IFRS 4 (Insurance Contracts) Replacement Process.” <i>Accounting in Europe</i> 11, no. 1 (2014): 89–112. <a href=\"https://doi.org/10.1080/17449480.2014.897459\">https://doi.org/10.1080/17449480.2014.897459</a>.","ieee":"U. Kosi and A. Reither, “Determinants of corporate participation in the IFRS 4 (insurance contracts) replacement process,” <i>Accounting in Europe</i>, vol. 11, no. 1, pp. 89–112, 2014, doi: <a href=\"https://doi.org/10.1080/17449480.2014.897459\">10.1080/17449480.2014.897459</a>.","ama":"Kosi U, Reither A. Determinants of corporate participation in the IFRS 4 (insurance contracts) replacement process. <i>Accounting in Europe</i>. 2014;11(1):89-112. doi:<a href=\"https://doi.org/10.1080/17449480.2014.897459\">10.1080/17449480.2014.897459</a>"},"jel":["D72","M41","M48"],"date_updated":"2023-01-24T15:33:00Z","volume":11,"date_created":"2018-08-22T07:55:49Z","author":[{"last_name":"Kosi","full_name":"Kosi, Urska","id":"54068","first_name":"Urska"},{"first_name":"Antonia","full_name":"Reither, Antonia","last_name":"Reither"}],"title":"Determinants of corporate participation in the IFRS 4 (insurance contracts) replacement process","doi":"10.1080/17449480.2014.897459"},{"publication":"SSRN Electronic Journal ","type":"journal_article","abstract":[{"text":"This study examines the effect of audit on private firms’ cost of debt. We use a sample of 1,949 small private firms operating in the period 2006-2010 with optional financial statement audit. High quality data allows us to construct a more precise interest rate measure than existing studies employ. After controlling for obvious sources of demand for voluntary audits (ownership complexity, subsidiary status, bank relations), we find a robust central result that voluntary audits increase rather than decrease the cost of debt financing, contrary to several existing studies. This finding indicates that voluntary audits are generally treated as “adopting a label” and penalised by creditors, regardless of the perceived auditor quality as a result of the lemon problem in the audit market. Even Big-4 audits increase the cost of debt, likely as a result due to the lemon problem in the audit market, although the increase is smaller than for non-Big-4 audits. The results are sensitive to the estimation method used (OLS, Heckman’s two-step, PSM) and (sub-)sample selection. We show that disregarding the underlying assumptions of these estimation methods may lead to incorrect inferences. Additional analyses show that audited firms’ reported earnings are less informative about future operating performance than earnings of their unaudited counterparts. Our results also indicate that results are sensitive to cost of debt definition and this might have affected the results reported in the existing literature. ","lang":"eng"}],"year":"2014","status":"public","citation":{"ieee":"J. Koren, U. Kosi, and A. Valentincic, “Does Financial Statement Audit Reduce the Cost of Debt of Private Firms?,” <i>SSRN Electronic Journal </i>, 2014.","chicago":"Koren, Jernej, Urska Kosi, and Aljosa Valentincic. “Does Financial Statement Audit Reduce the Cost of Debt of Private Firms?” <i>SSRN Electronic Journal </i>, 2014.","ama":"Koren J, Kosi U, Valentincic A. Does Financial Statement Audit Reduce the Cost of Debt of Private Firms? <i>SSRN Electronic Journal </i>. Published online 2014.","apa":"Koren, J., Kosi, U., &#38; Valentincic, A. (2014). Does Financial Statement Audit Reduce the Cost of Debt of Private Firms? <i>SSRN Electronic Journal </i>.","bibtex":"@article{Koren_Kosi_Valentincic_2014, title={Does Financial Statement Audit Reduce the Cost of Debt of Private Firms?}, journal={SSRN Electronic Journal }, author={Koren, Jernej and Kosi, Urska and Valentincic, Aljosa}, year={2014} }","short":"J. Koren, U. Kosi, A. Valentincic, SSRN Electronic Journal  (2014).","mla":"Koren, Jernej, et al. “Does Financial Statement Audit Reduce the Cost of Debt of Private Firms?” <i>SSRN Electronic Journal </i>, 2014."},"_id":"4879","date_updated":"2023-01-24T15:32:08Z","department":[{"_id":"551"},{"_id":"635"},{"_id":"186"}],"date_created":"2018-10-26T07:39:16Z","user_id":"54068","author":[{"last_name":"Koren","full_name":"Koren, Jernej","first_name":"Jernej"},{"full_name":"Kosi, Urska","id":"54068","last_name":"Kosi","first_name":"Urska"},{"first_name":"Aljosa","last_name":"Valentincic","full_name":"Valentincic, Aljosa"}],"title":"Does Financial Statement Audit Reduce the Cost of Debt of Private Firms?","language":[{"iso":"eng"}]},{"language":[{"iso":"ger"}],"_id":"5036","department":[{"_id":"187"},{"_id":"179"},{"_id":"635"}],"series_title":"arqus, Quantitative Research in Taxation","user_id":"530","status":"public","type":"working_paper","title":"Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment","date_updated":"2026-01-10T10:19:19Z","volume":166,"date_created":"2018-10-30T13:41:42Z","author":[{"last_name":"Fahr","full_name":"Fahr, Rene","id":"111","first_name":"Rene"},{"last_name":"Janssen","full_name":"Janssen, Elmar A.","first_name":"Elmar A."},{"full_name":"Sureth-Sloane, Caren","id":"530","last_name":"Sureth-Sloane","orcid":" 0000-0002-8183-5901","first_name":"Caren"}],"year":"2014","intvolume":"       166","citation":{"apa":"Fahr, R., Janssen, E. A., &#38; Sureth-Sloane, C. (2014). <i>Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment</i> (Vol. 166).","bibtex":"@book{Fahr_Janssen_Sureth-Sloane_2014, series={arqus, Quantitative Research in Taxation}, title={Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment}, volume={166}, author={Fahr, Rene and Janssen, Elmar A. and Sureth-Sloane, Caren}, year={2014}, collection={arqus, Quantitative Research in Taxation} }","mla":"Fahr, Rene, et al. <i>Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment</i>. 2014.","short":"R. Fahr, E.A. Janssen, C. Sureth-Sloane, Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment, 2014.","ieee":"R. Fahr, E. A. Janssen, and C. Sureth-Sloane, <i>Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment</i>, vol. 166. 2014.","chicago":"Fahr, Rene, Elmar A. Janssen, and Caren Sureth-Sloane. <i>Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment</i>. Vol. 166. arqus, Quantitative Research in Taxation, 2014.","ama":"Fahr R, Janssen EA, Sureth-Sloane C. <i>Can Tax Rate Changes Accelerate Investment Under Entry and Exit Flexibility? - Insights from an Economic Experiment</i>. Vol 166.; 2014."}},{"editor":[{"full_name":"Betz, Stefan","last_name":"Betz","first_name":"Stefan"}],"status":"public","publication":"Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik","type":"book_chapter","language":[{"iso":"ger"}],"_id":"2610","department":[{"_id":"193"}],"user_id":"21811","year":"2013","place":"Hamburg","page":"87-116","citation":{"mla":"Betz, Stefan. “Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung.” <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, edited by Stefan Betz, 2013, pp. 87–116.","bibtex":"@inbook{Betz_2013, place={Hamburg}, title={Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung}, booktitle={Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik}, author={Betz, Stefan}, editor={Betz, StefanEditor}, year={2013}, pages={87–116} }","short":"S. Betz, in: S. Betz (Ed.), Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik, Hamburg, 2013, pp. 87–116.","apa":"Betz, S. (2013). Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung. In S. Betz (Ed.), <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i> (pp. 87–116). Hamburg.","ama":"Betz S. Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung. In: Betz S, ed. <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>. Hamburg; 2013:87-116.","ieee":"S. Betz, “Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung,” in <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, S. Betz, Ed. Hamburg, 2013, pp. 87–116.","chicago":"Betz, Stefan. “Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung.” In <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, edited by Stefan Betz, 87–116. Hamburg, 2013."},"publication_status":"published","title":"Operative Handlungsempfehlungen für eine kostenorientierte Instandhaltungsplanung","date_updated":"2022-01-06T06:57:16Z","author":[{"first_name":"Stefan","full_name":"Betz, Stefan","id":"54","last_name":"Betz"}],"date_created":"2018-05-03T12:09:36Z"},{"publication_status":"published","page":"147-178","citation":{"ieee":"S. Betz, “Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen,” in <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i>, S. Betz, Ed. Hamburg, 2013, pp. 147–178.","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, 147–78. Hamburg, 2013.","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>. Hamburg; 2013:147-178.","apa":"Betz, S. (2013). Innovationsrisikomanagement bei unsicheren Cash-Flow-Prognosen. In S. Betz (Ed.), <i>Industrielles Controlling - Planung, Steuerung und Kontrolle von Beschaffung, Produktion und Logistik</i> (pp. 147–178). Hamburg.","short":"S. Betz, in: S. 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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. 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Investment distortions and the value of the government’s tax claim. <i>Applied Financial Economics (VHB-JOURQUAL 3 Ranking C)</i>, <i>23</i>(11), 977–989. <a href=\"https://doi.org/10.1080/09603107.2013.786161\">https://doi.org/10.1080/09603107.2013.786161</a>","bibtex":"@article{Kreutzmann_Sievers_Mueller_2013, title={Investment distortions and the value of the government’s tax claim}, volume={23}, DOI={<a href=\"https://doi.org/10.1080/09603107.2013.786161\">10.1080/09603107.2013.786161</a>}, number={11}, journal={Applied Financial Economics (VHB-JOURQUAL 3 Ranking C)}, publisher={Taylor \\&#38; Francis}, author={Kreutzmann, Daniel and Sievers, Sönke and Mueller, Christian}, year={2013}, pages={977–989} }","mla":"Kreutzmann, Daniel, et al. “Investment Distortions and the Value of the Government’s Tax Claim.” <i>Applied Financial Economics (VHB-JOURQUAL 3 Ranking C)</i>, vol. 23, no. 11, Taylor \\&#38; Francis, 2013, pp. 977–89, doi:<a href=\"https://doi.org/10.1080/09603107.2013.786161\">10.1080/09603107.2013.786161</a>.","short":"D. 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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. "}],"publication":"Applied Financial Economics (VHB-JOURQUAL 3 Ranking C)"}]