---
_id: '63835'
abstract:
- lang: eng
text: This article examines the liquidity effects of a wealth tax on residential
rental real estate. Using data from a real estate corporation, we simulate the
effects of a wealth tax on cash flows from the rental operations. The level of
detail of the data enables us to conduct analyses at the annual, regional and
year of construction level. A comparison with real estate data from other sources
supports external validity. The results of the simulation show that the introduction
of a wealth tax can significantly reduce the cash flow from rental operations
and lead to liquidity problems. On average over all observations, a wealth tax
rate of 2% leads to a negative cash flow after all costs. In general, this finding
implies that growth-oriented real estate is more affected by a wealth tax in terms
of liquidity than rental yield-oriented real estate. Particularly in large cities
with high market values but relatively low rents, the liquidity effects can be
more than three times as high as in rural or industrial regions – potentially
leading to a relative loss of investment attractiveness. As a wealth tax is decoupled
from rental income, the tax burden is very sensitive to market developments, including
the interest rate environment. As a result, investments in residential rental
real estate are exposed to additional uncertainty. This additional tax uncertainty
might impair the willingness to invest and should therefore be taken into account
in political discussions on the reintroduction of a wealth tax.
author:
- first_name: Ralf
full_name: Maiterth, Ralf
last_name: Maiterth
- first_name: Yuri
full_name: Piper, Yuri
id: '49955'
last_name: Piper
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: Maiterth R, Piper Y, Sureth-Sloane C. Liquidity Effects of a Wealth Tax
on Residential Rental Real Estate.; 2026. doi:10.2139/ssrn.6147767
apa: Maiterth, R., Piper, Y., & Sureth-Sloane, C. (2026). Liquidity Effects
of a Wealth Tax on Residential Rental Real Estate. https://doi.org/10.2139/ssrn.6147767
bibtex: '@book{Maiterth_Piper_Sureth-Sloane_2026, series={TRR 266 Accounting for
Transparency Working Paper Series No. 221}, title={Liquidity Effects of a Wealth
Tax on Residential Rental Real Estate}, DOI={10.2139/ssrn.6147767},
author={Maiterth, Ralf and Piper, Yuri and Sureth-Sloane, Caren}, year={2026},
collection={TRR 266 Accounting for Transparency Working Paper Series No. 221}
}'
chicago: Maiterth, Ralf, Yuri Piper, and Caren Sureth-Sloane. Liquidity Effects
of a Wealth Tax on Residential Rental Real Estate. TRR 266 Accounting for
Transparency Working Paper Series No. 221, 2026. https://doi.org/10.2139/ssrn.6147767.
ieee: R. Maiterth, Y. Piper, and C. Sureth-Sloane, Liquidity Effects of a Wealth
Tax on Residential Rental Real Estate. 2026.
mla: Maiterth, Ralf, et al. Liquidity Effects of a Wealth Tax on Residential
Rental Real Estate. 2026, doi:10.2139/ssrn.6147767.
short: R. Maiterth, Y. Piper, C. Sureth-Sloane, Liquidity Effects of a Wealth Tax
on Residential Rental Real Estate, 2026.
date_created: 2026-02-02T13:38:29Z
date_updated: 2026-02-09T11:18:25Z
department:
- _id: '187'
doi: 10.2139/ssrn.6147767
jel:
- H22
- H23
- H24
- R31
language:
- iso: eng
publication_status: published
series_title: TRR 266 Accounting for Transparency Working Paper Series No. 221
status: public
title: Liquidity Effects of a Wealth Tax on Residential Rental Real Estate
type: working_paper
user_id: '96670'
year: '2026'
...
---
_id: '64904'
author:
- first_name: Sounia
full_name: Kombert, Sounia
last_name: Kombert
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: Kombert S, Sureth-Sloane C. Schocks durch Zölle und Steuern. Handelskonflikte
und Abkommen werden zur zentralen Frage für Unternehmen. Wie bewältigen sie die
neue Unsicherheit? Frankfurter Allgemeine Zeitung. 2026:16, Sp. 1-4.
apa: Kombert, S., & Sureth-Sloane, C. (2026). Schocks durch Zölle und Steuern.
Handelskonflikte und Abkommen werden zur zentralen Frage für Unternehmen. Wie
bewältigen sie die neue Unsicherheit? Frankfurter Allgemeine Zeitung, 51,
16, Sp. 1-4.
bibtex: '@article{Kombert_Sureth-Sloane_2026, title={Schocks durch Zölle und Steuern.
Handelskonflikte und Abkommen werden zur zentralen Frage für Unternehmen. Wie
bewältigen sie die neue Unsicherheit?}, number={51}, journal={Frankfurter Allgemeine
Zeitung}, author={Kombert, Sounia and Sureth-Sloane, Caren}, year={2026}, pages={16,
Sp. 1-4} }'
chicago: Kombert, Sounia, and Caren Sureth-Sloane. “Schocks Durch Zölle Und Steuern.
Handelskonflikte Und Abkommen Werden Zur Zentralen Frage Für Unternehmen. Wie
Bewältigen Sie Die Neue Unsicherheit?” Frankfurter Allgemeine Zeitung,
2026.
ieee: S. Kombert and C. Sureth-Sloane, “Schocks durch Zölle und Steuern. Handelskonflikte
und Abkommen werden zur zentralen Frage für Unternehmen. Wie bewältigen sie die
neue Unsicherheit?,” Frankfurter Allgemeine Zeitung, no. 51, pp. 16, Sp.
1-4, 2026.
mla: Kombert, Sounia, and Caren Sureth-Sloane. “Schocks Durch Zölle Und Steuern.
Handelskonflikte Und Abkommen Werden Zur Zentralen Frage Für Unternehmen. Wie
Bewältigen Sie Die Neue Unsicherheit?” Frankfurter Allgemeine Zeitung,
no. 51, 2026, pp. 16, Sp. 1-4.
short: S. Kombert, C. Sureth-Sloane, Frankfurter Allgemeine Zeitung (2026) 16, Sp.
1-4.
date_created: 2026-03-12T08:53:31Z
date_updated: 2026-03-12T08:54:10Z
department:
- _id: '187'
issue: '51'
language:
- iso: eng
page: 16, Sp. 1-4
publication: Frankfurter Allgemeine Zeitung
publication_date: 2026-03-02
status: public
title: Schocks durch Zölle und Steuern. Handelskonflikte und Abkommen werden zur zentralen
Frage für Unternehmen. Wie bewältigen sie die neue Unsicherheit?
type: newspaper_article
user_id: '96670'
year: '2026'
...
---
_id: '64903'
author:
- first_name: Thomas
full_name: Hoppe, Thomas
last_name: Hoppe
- first_name: Deborah
full_name: Schanz, Deborah
last_name: Schanz
- first_name: Susann
full_name: Sturm, Susann
last_name: Sturm
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: 'Hoppe T, Schanz D, Sturm S, Sureth-Sloane C. Steuerkomplexität: Wie lässt
sie sich messen und welche Folgen hat sie? Schmalenbach IMPULSE. 2026;(6):1-12.
doi:10.54585/IEZK8936'
apa: 'Hoppe, T., Schanz, D., Sturm, S., & Sureth-Sloane, C. (2026). Steuerkomplexität:
Wie lässt sie sich messen und welche Folgen hat sie? Schmalenbach IMPULSE,
6, 1–12. https://doi.org/10.54585/IEZK8936'
bibtex: '@article{Hoppe_Schanz_Sturm_Sureth-Sloane_2026, title={Steuerkomplexität:
Wie lässt sie sich messen und welche Folgen hat sie?}, DOI={10.54585/IEZK8936},
number={6}, journal={Schmalenbach IMPULSE}, author={Hoppe, Thomas and Schanz,
Deborah and Sturm, Susann and Sureth-Sloane, Caren}, year={2026}, pages={1–12}
}'
chicago: 'Hoppe, Thomas, Deborah Schanz, Susann Sturm, and Caren Sureth-Sloane.
“Steuerkomplexität: Wie Lässt Sie Sich Messen Und Welche Folgen Hat Sie?” Schmalenbach
IMPULSE, no. 6 (2026): 1–12. https://doi.org/10.54585/IEZK8936.'
ieee: 'T. Hoppe, D. Schanz, S. Sturm, and C. Sureth-Sloane, “Steuerkomplexität:
Wie lässt sie sich messen und welche Folgen hat sie?,” Schmalenbach IMPULSE,
no. 6, pp. 1–12, 2026, doi: 10.54585/IEZK8936.'
mla: 'Hoppe, Thomas, et al. “Steuerkomplexität: Wie Lässt Sie Sich Messen Und Welche
Folgen Hat Sie?” Schmalenbach IMPULSE, no. 6, 2026, pp. 1–12, doi:10.54585/IEZK8936.'
short: T. Hoppe, D. Schanz, S. Sturm, C. Sureth-Sloane, Schmalenbach IMPULSE (2026)
1–12.
date_created: 2026-03-12T08:49:50Z
date_updated: 2026-03-12T08:54:13Z
department:
- _id: '187'
doi: 10.54585/IEZK8936
issue: '6'
language:
- iso: eng
page: 1-12
publication: Schmalenbach IMPULSE
status: public
title: 'Steuerkomplexität: Wie lässt sie sich messen und welche Folgen hat sie?'
type: journal_article
user_id: '96670'
year: '2026'
...
---
_id: '63577'
author:
- first_name: Eva
full_name: Eberhartinger, Eva
last_name: Eberhartinger
- first_name: Raffael
full_name: Speitmann, Raffael
last_name: Speitmann
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: Eberhartinger E, Speitmann R, Sureth-Sloane C. Banks’ tax disclosure, financial
secrecy, and tax haven heterogeneity. Journal of International Accounting,
Auditing and Taxation (JIAAT). 2026;60. doi:10.1016/j.intaccaudtax.2026.100759
apa: Eberhartinger, E., Speitmann, R., & Sureth-Sloane, C. (2026). Banks’ tax
disclosure, financial secrecy, and tax haven heterogeneity. Journal of International
Accounting, Auditing and Taxation (JIAAT), 60. https://doi.org/10.1016/j.intaccaudtax.2026.100759
bibtex: '@article{Eberhartinger_Speitmann_Sureth-Sloane_2026, title={Banks’ tax
disclosure, financial secrecy, and tax haven heterogeneity}, volume={60}, DOI={10.1016/j.intaccaudtax.2026.100759},
journal={Journal of International Accounting, Auditing and Taxation (JIAAT)},
author={Eberhartinger, Eva and Speitmann, Raffael and Sureth-Sloane, Caren}, year={2026}
}'
chicago: Eberhartinger, Eva, Raffael Speitmann, and Caren Sureth-Sloane. “Banks’
Tax Disclosure, Financial Secrecy, and Tax Haven Heterogeneity.” Journal of
International Accounting, Auditing and Taxation (JIAAT) 60 (2026). https://doi.org/10.1016/j.intaccaudtax.2026.100759.
ieee: 'E. Eberhartinger, R. Speitmann, and C. Sureth-Sloane, “Banks’ tax disclosure,
financial secrecy, and tax haven heterogeneity,” Journal of International Accounting,
Auditing and Taxation (JIAAT), vol. 60, 2026, doi: 10.1016/j.intaccaudtax.2026.100759.'
mla: Eberhartinger, Eva, et al. “Banks’ Tax Disclosure, Financial Secrecy, and Tax
Haven Heterogeneity.” Journal of International Accounting, Auditing and Taxation
(JIAAT), vol. 60, 2026, doi:10.1016/j.intaccaudtax.2026.100759.
short: E. Eberhartinger, R. Speitmann, C. Sureth-Sloane, Journal of International
Accounting, Auditing and Taxation (JIAAT) 60 (2026).
date_created: 2026-01-13T08:35:28Z
date_updated: 2026-04-09T07:24:33Z
department:
- _id: '187'
doi: 10.1016/j.intaccaudtax.2026.100759
intvolume: ' 60'
language:
- iso: eng
publication: Journal of International Accounting, Auditing and Taxation (JIAAT)
publication_status: published
quality_controlled: '1'
status: public
title: Banks' tax disclosure, financial secrecy, and tax haven heterogeneity
type: journal_article
user_id: '74000'
volume: 60
year: '2026'
...
---
_id: '56815'
abstract:
- lang: eng
text: This study investigates the determinants of tax complexity in Indonesia, focusing
on the perspectives of tax officers and firms, and thus provides a case study
relevant to developing countries. Understanding tax complexity in this context
is crucial as developing nations frequently encounter legislative, fiscal, and
administrative challenges that exacerbate their tax complexity. Complexity can
hinder investment, impair tax revenue collection, and impede economic development.
The authors adapt a global survey instrument to the Indonesian context and collect
responses from Indonesian tax officers and firms. Transfer pricing is perceived
as the most complex tax regulation which is consistent with cross-country studies.
However, in contrast to the global findings, statutory tax rates and taxes on
dividends rank second and third in Indonesia. While Indonesian tax officers emphasize
the complexity of transfer pricing regulations, firms are more concerned about
the complexity of tax procedures, especially tax guidance and tax audits. Furthermore,
comparative analyses show that tax officers perceive tax regulations as being
more complex than tax procedures. In contrast, firms perceive the opposite, particularly
for tax audits. The findings offer a nuanced picture of tax complexity in a developing
country and provide guidance for tax reforms in Indonesia. They also serve as
a commencement for further analyses of developing countries.
author:
- first_name: Adrian
full_name: Schipp, Adrian
id: '44288'
last_name: Schipp
- first_name: Fernando
full_name: Siahaan, Fernando
last_name: Siahaan
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: 'Schipp A, Siahaan F, Sureth-Sloane C. Determinants of Tax Complexity: Evidence
from a Developing Country. Intertax. 2026;54(2):102-122. doi:http://dx.doi.org/10.2139/ssrn.4924632'
apa: 'Schipp, A., Siahaan, F., & Sureth-Sloane, C. (2026). Determinants of Tax
Complexity: Evidence from a Developing Country. Intertax, 54(2),
102–122. http://dx.doi.org/10.2139/ssrn.4924632'
bibtex: '@article{Schipp_Siahaan_Sureth-Sloane_2026, title={Determinants of Tax
Complexity: Evidence from a Developing Country}, volume={54}, DOI={http://dx.doi.org/10.2139/ssrn.4924632},
number={2}, journal={Intertax}, author={Schipp, Adrian and Siahaan, Fernando and
Sureth-Sloane, Caren}, year={2026}, pages={102–122} }'
chicago: 'Schipp, Adrian, Fernando Siahaan, and Caren Sureth-Sloane. “Determinants
of Tax Complexity: Evidence from a Developing Country.” Intertax 54, no.
2 (2026): 102–22. http://dx.doi.org/10.2139/ssrn.4924632.'
ieee: 'A. Schipp, F. Siahaan, and C. Sureth-Sloane, “Determinants of Tax Complexity:
Evidence from a Developing Country,” Intertax, vol. 54, no. 2, pp. 102–122,
2026, doi: http://dx.doi.org/10.2139/ssrn.4924632.'
mla: 'Schipp, Adrian, et al. “Determinants of Tax Complexity: Evidence from a Developing
Country.” Intertax, vol. 54, no. 2, 2026, pp. 102–22, doi:http://dx.doi.org/10.2139/ssrn.4924632.'
short: A. Schipp, F. Siahaan, C. Sureth-Sloane, Intertax 54 (2026) 102–122.
date_created: 2024-10-30T07:25:39Z
date_updated: 2026-04-09T07:24:54Z
department:
- _id: '187'
doi: http://dx.doi.org/10.2139/ssrn.4924632
intvolume: ' 54'
issue: '2'
language:
- iso: eng
main_file_link:
- url: https://kluwerlawonline.com/journalarticle/Intertax/54.2/TAXI2026020
page: 102-122
publication: Intertax
publication_status: published
quality_controlled: '1'
status: public
title: 'Determinants of Tax Complexity: Evidence from a Developing Country'
type: journal_article
user_id: '74000'
volume: 54
year: '2026'
...
---
_id: '65737'
abstract:
- lang: eng
text: 'We examine German individuals'' preferences for income and wealth taxation
and, importantly, the interplay between these two tax instruments. While prior
research often examines wealth tax preferences in isolation, actual tax systems
consist of multiple interacting taxes. To capture this dynamic, we elicit preferred
tax burdens in a large-scale online experiment with 2,702 participants randomly
assigned to one of four treatment groups: respondents state either an unspecified
overall tax burden, separate income and wealth tax burdens, an income tax burden
only, or a wealth tax burden only. Our baseline estimates reveal average (marginal)
tax rates of approximately 17.4% (18.9%) for income and 4.1% (2.3%) for wealth.
We find that participants associate wealth with an ability-to-pay taxes: when
a wealth tax is not explicitly available, preferred income tax rates are approximately
30% higher. However, when both instruments are available, participants do not
treat them as substitutes. Instead, they appear to treat the two taxes as separate
mental bins: the standalone income and wealth tax burdens are combined in a notably
additive manner, resulting in a significantly higher overall tax burden. Further,
respondents apply implicit exemptions for low levels of wealth and favor a wealth
tax base focused primarily on financial assets and real estate other than the
primary residence.'
author:
- first_name: Ralf
full_name: Maiterth, Ralf
last_name: Maiterth
- first_name: Yuri
full_name: Piper, Yuri
id: '49955'
last_name: Piper
- first_name: Cornelius
full_name: Schneider, Cornelius
last_name: Schneider
citation:
ama: Maiterth R, Piper Y, Schneider C. Preferences for Taxing Wealth and Income.;
2026. doi:10.2139/ssrn.6832418
apa: Maiterth, R., Piper, Y., & Schneider, C. (2026). Preferences for Taxing
Wealth and Income. https://doi.org/10.2139/ssrn.6832418
bibtex: '@book{Maiterth_Piper_Schneider_2026, series={TRR 266 Accounting for Transparency
Working Paper Series No. 239}, title={Preferences for Taxing Wealth and Income},
DOI={10.2139/ssrn.6832418},
author={Maiterth, Ralf and Piper, Yuri and Schneider, Cornelius}, year={2026},
collection={TRR 266 Accounting for Transparency Working Paper Series No. 239}
}'
chicago: Maiterth, Ralf, Yuri Piper, and Cornelius Schneider. Preferences for
Taxing Wealth and Income. TRR 266 Accounting for Transparency Working Paper
Series No. 239, 2026. https://doi.org/10.2139/ssrn.6832418.
ieee: R. Maiterth, Y. Piper, and C. Schneider, Preferences for Taxing Wealth
and Income. 2026.
mla: Maiterth, Ralf, et al. Preferences for Taxing Wealth and Income. 2026,
doi:10.2139/ssrn.6832418.
short: R. Maiterth, Y. Piper, C. Schneider, Preferences for Taxing Wealth and Income,
2026.
date_created: 2026-06-01T06:46:10Z
date_updated: 2026-06-01T06:47:26Z
department:
- _id: '187'
doi: 10.2139/ssrn.6832418
language:
- iso: eng
main_file_link:
- open_access: '1'
oa: '1'
series_title: TRR 266 Accounting for Transparency Working Paper Series No. 239
status: public
title: Preferences for Taxing Wealth and Income
type: working_paper
user_id: '96670'
year: '2026'
...
---
_id: '66348'
author:
- first_name: Mahdi
full_name: Rahali, Mahdi
id: '80161'
last_name: Rahali
- first_name: Bianca
full_name: Beyer, Bianca
last_name: Beyer
- first_name: Joachim
full_name: Gassen, Joachim
last_name: Gassen
- first_name: Sebastian
full_name: Geschonke, Sebastian
last_name: Geschonke
citation:
ama: 'Rahali M, Beyer B, Gassen J, Geschonke S. Neue Mikrodaten Zu Unternehmensinsolvenzen
in Deutschland: Die Insol Datenbank.'
apa: 'Rahali, M., Beyer, B., Gassen, J., & Geschonke, S. (n.d.). Neue Mikrodaten
zu Unternehmensinsolvenzen in Deutschland: Die insol Datenbank.'
bibtex: '@book{Rahali_Beyer_Gassen_Geschonke, title={Neue Mikrodaten zu Unternehmensinsolvenzen
in Deutschland: Die insol Datenbank}, author={Rahali, Mahdi and Beyer, Bianca
and Gassen, Joachim and Geschonke, Sebastian} }'
chicago: 'Rahali, Mahdi, Bianca Beyer, Joachim Gassen, and Sebastian Geschonke.
Neue Mikrodaten Zu Unternehmensinsolvenzen in Deutschland: Die Insol Datenbank,
n.d.'
ieee: 'M. Rahali, B. Beyer, J. Gassen, and S. Geschonke, Neue Mikrodaten zu Unternehmensinsolvenzen
in Deutschland: Die insol Datenbank. .'
mla: 'Rahali, Mahdi, et al. Neue Mikrodaten Zu Unternehmensinsolvenzen in Deutschland:
Die Insol Datenbank.'
short: 'M. Rahali, B. Beyer, J. Gassen, S. Geschonke, Neue Mikrodaten Zu Unternehmensinsolvenzen
in Deutschland: Die Insol Datenbank, n.d.'
date_created: 2026-07-08T07:40:14Z
date_updated: 2026-07-08T07:40:27Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
language:
- iso: eng
publication_status: unpublished
status: public
title: 'Neue Mikrodaten zu Unternehmensinsolvenzen in Deutschland: Die insol Datenbank'
type: working_paper
user_id: '80161'
year: '2026'
...
---
_id: '66357'
author:
- first_name: Mahdi
full_name: Rahali, Mahdi
id: '80161'
last_name: Rahali
citation:
ama: Rahali M. COVID-19 Insolvency Moratoria, Firm Selection, and Allocative
Efficiency.
apa: Rahali, M. (n.d.). COVID-19 insolvency moratoria, firm selection, and allocative
efficiency.
bibtex: '@book{Rahali, title={COVID-19 insolvency moratoria, firm selection, and
allocative efficiency}, author={Rahali, Mahdi} }'
chicago: Rahali, Mahdi. COVID-19 Insolvency Moratoria, Firm Selection, and Allocative
Efficiency, n.d.
ieee: M. Rahali, COVID-19 insolvency moratoria, firm selection, and allocative
efficiency. .
mla: Rahali, Mahdi. COVID-19 Insolvency Moratoria, Firm Selection, and Allocative
Efficiency.
short: M. Rahali, COVID-19 Insolvency Moratoria, Firm Selection, and Allocative
Efficiency, n.d.
date_created: 2026-07-08T07:45:43Z
date_updated: 2026-07-08T07:45:46Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
language:
- iso: eng
publication_status: unpublished
status: public
title: COVID-19 insolvency moratoria, firm selection, and allocative efficiency
type: working_paper
user_id: '80161'
year: '2026'
...
---
_id: '66497'
author:
- first_name: Christian
full_name: Kaeser, Christian
last_name: Kaeser
- first_name: Deborah
full_name: Schanz, Deborah
last_name: Schanz
- first_name: Caren
full_name: Sureth-Sloane, Caren
last_name: Sureth-Sloane
citation:
ama: Kaeser C, Schanz D, Sureth-Sloane C. Steuern, Standort, Unternehmensstrategie
– Wie wettbewerbsfähig sind Deutschlands Steuer-, Zoll- und Investitionspolitik?
Schmalenbach IMPULSE. 2026;6(1-4). doi:10.54585/CLIM8326
apa: Kaeser, C., Schanz, D., & Sureth-Sloane, C. (2026). Steuern, Standort,
Unternehmensstrategie – Wie wettbewerbsfähig sind Deutschlands Steuer-, Zoll-
und Investitionspolitik? Schmalenbach IMPULSE, 6(1–4). https://doi.org/10.54585/CLIM8326
bibtex: '@article{Kaeser_Schanz_Sureth-Sloane_2026, title={Steuern, Standort, Unternehmensstrategie
– Wie wettbewerbsfähig sind Deutschlands Steuer-, Zoll- und Investitionspolitik?},
volume={6}, DOI={10.54585/CLIM8326},
number={1–4}, journal={Schmalenbach IMPULSE}, author={Kaeser, Christian and Schanz,
Deborah and Sureth-Sloane, Caren}, year={2026} }'
chicago: Kaeser, Christian, Deborah Schanz, and Caren Sureth-Sloane. “Steuern, Standort,
Unternehmensstrategie – Wie wettbewerbsfähig sind Deutschlands Steuer-, Zoll-
und Investitionspolitik?” Schmalenbach IMPULSE 6, no. 1–4 (2026). https://doi.org/10.54585/CLIM8326.
ieee: 'C. Kaeser, D. Schanz, and C. Sureth-Sloane, “Steuern, Standort, Unternehmensstrategie
– Wie wettbewerbsfähig sind Deutschlands Steuer-, Zoll- und Investitionspolitik?,”
Schmalenbach IMPULSE, vol. 6, no. 1–4, 2026, doi: 10.54585/CLIM8326.'
mla: Kaeser, Christian, et al. “Steuern, Standort, Unternehmensstrategie – Wie wettbewerbsfähig
sind Deutschlands Steuer-, Zoll- und Investitionspolitik?” Schmalenbach IMPULSE,
vol. 6, no. 1–4, 2026, doi:10.54585/CLIM8326.
short: C. Kaeser, D. Schanz, C. Sureth-Sloane, Schmalenbach IMPULSE 6 (2026).
date_created: 2026-07-15T11:38:44Z
date_updated: 2026-07-15T11:38:58Z
department:
- _id: '187'
doi: 10.54585/CLIM8326
intvolume: ' 6'
issue: 1-4
language:
- iso: ger
publication: Schmalenbach IMPULSE
status: public
title: Steuern, Standort, Unternehmensstrategie – Wie wettbewerbsfähig sind Deutschlands
Steuer-, Zoll- und Investitionspolitik?
type: journal_article
user_id: '74000'
volume: 6
year: '2026'
...
---
_id: '66840'
author:
- first_name: Christian
full_name: Danner, Christian
last_name: Danner
- first_name: 'Martin '
full_name: 'Lagarden, Martin '
last_name: Lagarden
- first_name: Jan Thomas
full_name: Martini, Jan Thomas
last_name: Martini
- first_name: Rainer
full_name: Niemann, Rainer
last_name: Niemann
- first_name: Andreas
full_name: Oestreicher, Andreas
last_name: Oestreicher
- first_name: Juliane
full_name: Sassmann, Juliane
last_name: Sassmann
- first_name: Ulrich
full_name: Schreiber, Ulrich
last_name: Schreiber
- first_name: Dirk
full_name: Simons, Dirk
last_name: Simons
- first_name: Caren
full_name: Sureth-Sloane, Caren
last_name: Sureth-Sloane
- first_name: Dennis
full_name: Voeller, Dennis
last_name: Voeller
citation:
ama: Danner C, Lagarden M, Martini JT, et al. Mandatory Binding Arbitration – Economic
Evaluation of an International Norm. International Transfer Pricing Journal.
2026;33(5). doi:10.59403/pmxpqx
apa: Danner, C., Lagarden, M., Martini, J. T., Niemann, R., Oestreicher, A., Sassmann,
J., Schreiber, U., Simons, D., Sureth-Sloane, C., & Voeller, D. (2026). Mandatory
Binding Arbitration – Economic Evaluation of an International Norm. International
Transfer Pricing Journal, 33(5). https://doi.org/10.59403/pmxpqx
bibtex: '@article{Danner_Lagarden_Martini_Niemann_Oestreicher_Sassmann_Schreiber_Simons_Sureth-Sloane_Voeller_2026,
title={Mandatory Binding Arbitration – Economic Evaluation of an International
Norm}, volume={33}, DOI={10.59403/pmxpqx},
number={5}, journal={International Transfer Pricing Journal}, author={Danner,
Christian and Lagarden, Martin and Martini, Jan Thomas and Niemann, Rainer and
Oestreicher, Andreas and Sassmann, Juliane and Schreiber, Ulrich and Simons, Dirk
and Sureth-Sloane, Caren and Voeller, Dennis}, year={2026} }'
chicago: Danner, Christian, Martin Lagarden, Jan Thomas Martini, Rainer Niemann,
Andreas Oestreicher, Juliane Sassmann, Ulrich Schreiber, Dirk Simons, Caren Sureth-Sloane,
and Dennis Voeller. “Mandatory Binding Arbitration – Economic Evaluation of an
International Norm.” International Transfer Pricing Journal 33, no. 5 (2026).
https://doi.org/10.59403/pmxpqx.
ieee: 'C. Danner et al., “Mandatory Binding Arbitration – Economic Evaluation
of an International Norm,” International Transfer Pricing Journal, vol.
33, no. 5, 2026, doi: 10.59403/pmxpqx.'
mla: Danner, Christian, et al. “Mandatory Binding Arbitration – Economic Evaluation
of an International Norm.” International Transfer Pricing Journal, vol.
33, no. 5, 2026, doi:10.59403/pmxpqx.
short: C. Danner, M. Lagarden, J.T. Martini, R. Niemann, A. Oestreicher, J. Sassmann,
U. Schreiber, D. Simons, C. Sureth-Sloane, D. Voeller, International Transfer
Pricing Journal 33 (2026).
date_created: 2026-08-25T06:22:56Z
date_updated: 2026-08-25T06:23:03Z
department:
- _id: '187'
doi: 10.59403/pmxpqx
intvolume: ' 33'
issue: '5'
language:
- iso: eng
publication: International Transfer Pricing Journal
status: public
title: Mandatory Binding Arbitration – Economic Evaluation of an International Norm
type: journal_article
user_id: '74000'
volume: 33
year: '2026'
...
---
_id: '66839'
author:
- first_name: Reinald
full_name: Koch, Reinald
last_name: Koch
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: 'Koch R, Sureth-Sloane C. Steuern und Zölle als strategische Entscheidungsgrößen:
Wirkungen auf Investitionen, Lieferketten und den Standort Deutschland. Der
Betrieb. 2026;79(35):2110-2177.'
apa: 'Koch, R., & Sureth-Sloane, C. (2026). Steuern und Zölle als strategische
Entscheidungsgrößen: Wirkungen auf Investitionen, Lieferketten und den Standort
Deutschland. Der Betrieb, 79(35), 2110–2177.'
bibtex: '@article{Koch_Sureth-Sloane_2026, title={Steuern und Zölle als strategische
Entscheidungsgrößen: Wirkungen auf Investitionen, Lieferketten und den Standort
Deutschland}, volume={79}, number={35}, journal={Der Betrieb}, author={Koch, Reinald
and Sureth-Sloane, Caren}, year={2026}, pages={2110–2177} }'
chicago: 'Koch, Reinald, and Caren Sureth-Sloane. “Steuern und Zölle als strategische
Entscheidungsgrößen: Wirkungen auf Investitionen, Lieferketten und den Standort
Deutschland.” Der Betrieb 79, no. 35 (2026): 2110–77.'
ieee: 'R. Koch and C. Sureth-Sloane, “Steuern und Zölle als strategische Entscheidungsgrößen:
Wirkungen auf Investitionen, Lieferketten und den Standort Deutschland,” Der
Betrieb, vol. 79, no. 35, pp. 2110–2177, 2026.'
mla: 'Koch, Reinald, and Caren Sureth-Sloane. “Steuern und Zölle als strategische
Entscheidungsgrößen: Wirkungen auf Investitionen, Lieferketten und den Standort
Deutschland.” Der Betrieb, vol. 79, no. 35, 2026, pp. 2110–77.'
short: R. Koch, C. Sureth-Sloane, Der Betrieb 79 (2026) 2110–2177.
date_created: 2026-08-25T06:18:20Z
date_updated: 2026-08-25T06:18:28Z
department:
- _id: '187'
intvolume: ' 79'
issue: '35'
language:
- iso: ger
page: 2110-2177
publication: Der Betrieb
status: public
title: 'Steuern und Zölle als strategische Entscheidungsgrößen: Wirkungen auf Investitionen,
Lieferketten und den Standort Deutschland'
type: journal_article
user_id: '74000'
volume: 79
year: '2026'
...
---
_id: '65315'
abstract:
- lang: eng
text: "This study examines the drivers of perceived corporate transfer pricing complexity.
Our analysis is based on survey data from \r\nmultinational firms in the manufacturing
sector. We identify three key strategies expected to reduce transfer pricing complexity
\r\nand associated compliance costs while enhancing tax compliance: standardising
transfer pricing documentation, strengthening \r\ncooperation between tax authorities,
and increasing transparency through expanded information exchange among tax \r\nauthorities
and between tax authorities and firms. The findings provide evidence-based insights
for international tax policy \r\naimed at reducing transfer pricing complexity
and associated administrative burdens for both firms and tax administrations. "
author:
- first_name: Stefan
full_name: Greil, Stefan
last_name: Greil
- first_name: Eleonore
full_name: Kaluza-Thiesen, Eleonore
last_name: Kaluza-Thiesen
- first_name: Kim Alina
full_name: Schulz, Kim Alina
id: '68607'
last_name: Schulz
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
citation:
ama: 'Greil S, Kaluza-Thiesen E, Schulz KA, Sureth-Sloane C. Navigating Transfer
Pricing Complexity: Standardization, Cooperation, Transparency. eJournal of
Tax Research. 2026;24(1):1-37.'
apa: 'Greil, S., Kaluza-Thiesen, E., Schulz, K. A., & Sureth-Sloane, C. (2026).
Navigating Transfer Pricing Complexity: Standardization, Cooperation, Transparency.
EJournal of Tax Research, 24(1), 1–37.'
bibtex: '@article{Greil_Kaluza-Thiesen_Schulz_Sureth-Sloane_2026, title={Navigating
Transfer Pricing Complexity: Standardization, Cooperation, Transparency}, volume={24},
number={1}, journal={eJournal of Tax Research}, author={Greil, Stefan and Kaluza-Thiesen,
Eleonore and Schulz, Kim Alina and Sureth-Sloane, Caren}, year={2026}, pages={1–37}
}'
chicago: 'Greil, Stefan, Eleonore Kaluza-Thiesen, Kim Alina Schulz, and Caren Sureth-Sloane.
“Navigating Transfer Pricing Complexity: Standardization, Cooperation, Transparency.”
EJournal of Tax Research 24, no. 1 (2026): 1–37.'
ieee: 'S. Greil, E. Kaluza-Thiesen, K. A. Schulz, and C. Sureth-Sloane, “Navigating
Transfer Pricing Complexity: Standardization, Cooperation, Transparency,” eJournal
of Tax Research, vol. 24, no. 1, pp. 1–37, 2026.'
mla: 'Greil, Stefan, et al. “Navigating Transfer Pricing Complexity: Standardization,
Cooperation, Transparency.” EJournal of Tax Research, vol. 24, no. 1, 2026,
pp. 1–37.'
short: S. Greil, E. Kaluza-Thiesen, K.A. Schulz, C. Sureth-Sloane, EJournal of Tax
Research 24 (2026) 1–37.
date_created: 2026-04-02T08:35:24Z
date_updated: 2026-07-02T12:06:56Z
department:
- _id: '187'
intvolume: ' 24'
issue: '1'
language:
- iso: eng
page: 1-37
publication: eJournal of Tax Research
quality_controlled: '1'
status: public
title: 'Navigating Transfer Pricing Complexity: Standardization, Cooperation, Transparency'
type: journal_article
user_id: '96670'
volume: 24
year: '2026'
...
---
_id: '66443'
author:
- first_name: Caren
full_name: Sureth, Caren
id: '530'
last_name: Sureth
orcid: ' 0000-0002-8183-5901'
citation:
ama: 'Sureth C. Steuersicherheit als Standortfaktor: Planbarkeit statt Investitionshemmnis.
Betriebs-Berater. 2026;81(29):I.'
apa: 'Sureth, C. (2026). Steuersicherheit als Standortfaktor: Planbarkeit statt
Investitionshemmnis. Betriebs-Berater, 81(29), I.'
bibtex: '@article{Sureth_2026, title={Steuersicherheit als Standortfaktor: Planbarkeit
statt Investitionshemmnis}, volume={81}, number={29}, journal={Betriebs-Berater},
author={Sureth, Caren}, year={2026}, pages={I} }'
chicago: 'Sureth, Caren. “Steuersicherheit Als Standortfaktor: Planbarkeit Statt
Investitionshemmnis.” Betriebs-Berater 81, no. 29 (2026): I.'
ieee: 'C. Sureth, “Steuersicherheit als Standortfaktor: Planbarkeit statt Investitionshemmnis,”
Betriebs-Berater, vol. 81, no. 29, p. I, 2026.'
mla: 'Sureth, Caren. “Steuersicherheit Als Standortfaktor: Planbarkeit Statt Investitionshemmnis.”
Betriebs-Berater, vol. 81, no. 29, 2026, p. I.'
short: C. Sureth, Betriebs-Berater 81 (2026) I.
date_created: 2026-07-13T06:27:30Z
date_updated: 2026-07-13T06:28:49Z
department:
- _id: '187'
intvolume: ' 81'
issue: '29'
language:
- iso: eng
page: I
publication: Betriebs-Berater
status: public
title: 'Steuersicherheit als Standortfaktor: Planbarkeit statt Investitionshemmnis'
type: journal_article
user_id: '96670'
volume: 81
year: '2026'
...
---
_id: '66449'
abstract:
- lang: eng
text: "This paper evaluates the forecasting performance of an expanded class of
(semi-)parametric \r\nGARCH models belonging to the EGARCH family (EGF), including
recently introduced long \r\nand short memory specifications and their semiparametric
extensions. The semiparametric \r\nvariants employ a multiplicative volatility
decomposition into conditional and slowly varying \r\nunconditional components,
where the latter is estimated via a data-driven local polynomial \r\nsmoother
to accommodate non-stationarities commonly observed in financial time series.
Based \r\non the revised Basel Committee framework for market-risk assessment,
all models are capable \r\nof producing rolling one-day-ahead forecasts for Value
at Risk (VaR) and Expected Shortfall \r\n(ES) under a wide range of symmetric
and skewed innovation distributions. Their forecasting \r\naccuracy is examined
using the regulatory traffic light tests for VaR and the recently developed \r\nES-specific
traffic light procedure, complemented by the regulatory loss function. In addition,
\r\nmodel selection incorporates both a recently proposed corrected firm-oriented
loss function that \r\naccounts for opportunity costs and the Weighted Absolute
Deviation (WAD) criterion. The \r\nempirical comparison demonstrates that (semiparametric)
long memory GARCH models - \r\nparticularly those combining fractional dynamics
with nonparametric scale adjustments - can \r\nserve as valuable alternatives
to traditional parametric short memory models, offering more \r\nstable volatility
estimates and improved tail-risk forecasts for practical risk management \r\napplications."
author:
- first_name: Dominik Christian
full_name: Hanke, Dominik Christian
id: '63677'
last_name: Hanke
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
- first_name: Yuanhua
full_name: Feng, Yuanhua
id: '20760'
last_name: Feng
citation:
ama: Hanke DC, Uhde A, Feng Y. Application of Novel Exponential (Semi-)Parametric
Short and Long Memory GARCH Models under Regulatory Requirements of Basel III.;
2026.
apa: Hanke, D. C., Uhde, A., & Feng, Y. (2026). Application of Novel Exponential
(Semi-)Parametric Short and Long Memory GARCH Models under Regulatory Requirements
of Basel III.
bibtex: '@book{Hanke_Uhde_Feng_2026, title={Application of Novel Exponential (Semi-)Parametric
Short and Long Memory GARCH Models under Regulatory Requirements of Basel III},
author={Hanke, Dominik Christian and Uhde, André and Feng, Yuanhua}, year={2026}
}'
chicago: Hanke, Dominik Christian, André Uhde, and Yuanhua Feng. Application
of Novel Exponential (Semi-)Parametric Short and Long Memory GARCH Models under
Regulatory Requirements of Basel III, 2026.
ieee: D. C. Hanke, A. Uhde, and Y. Feng, Application of Novel Exponential (Semi-)Parametric
Short and Long Memory GARCH Models under Regulatory Requirements of Basel III.
2026.
mla: Hanke, Dominik Christian, et al. Application of Novel Exponential (Semi-)Parametric
Short and Long Memory GARCH Models under Regulatory Requirements of Basel III.
2026.
short: D.C. Hanke, A. Uhde, Y. Feng, Application of Novel Exponential (Semi-)Parametric
Short and Long Memory GARCH Models under Regulatory Requirements of Basel III,
2026.
date_created: 2026-07-13T09:21:49Z
date_updated: 2026-07-16T09:07:19Z
ddc:
- '330'
department:
- _id: '200'
- _id: '186'
file:
- access_level: open_access
content_type: application/pdf
creator: dhanke
date_created: 2026-07-13T09:21:45Z
date_updated: 2026-07-13T09:21:45Z
file_id: '66450'
file_name: TAF_WP_105_HankeUhdeFeng2026.pdf
file_size: 1830858
relation: main_file
file_date_updated: 2026-07-13T09:21:45Z
has_accepted_license: '1'
jel:
- C22
- C4
- C5
- C6
- B26
keyword:
- semiparametric GARCH extension
- data-driven local polynomial smoother
- long memory
- GARCH models
- Value at Risk
- Expected Shortfall
- traffic light test
- backtesting
- Basel III
- market risk
language:
- iso: eng
oa: '1'
status: public
title: Application of Novel Exponential (Semi-)Parametric Short and Long Memory GARCH
Models under Regulatory Requirements of Basel III
type: working_paper
user_id: '63677'
year: '2026'
...
---
_id: '66447'
abstract:
- lang: eng
text: "Volatility modeling is utilized across numerous fields including finance,
environmental studies, and \r\nsocial sciences. It is particularly relevant in
scenarios where understanding and predicting conditional \r\nvariability is crucial,
such as when dealing with incremental or time-dependent data. In this paper, novel
\r\nshort and long memory volatility models of the EGARCH family are introduced
and analyzed, which \r\nare closely related to the well-established EGARCH model
proposed by Nelson (1991) but share \r\ndesirable theoretical properties in several
dimensions. Recently developed members of the so-called \r\nEGARCH family, which
introduces a modulus-log transformation proposed by John and Draper (1980) \r\nand
a power transformation for the size and magnitude effect to tackle the problem
with near-zero \r\ninnovations and the asymmetric impact of positive and negative
shocks on the volatility, are discussed. \r\nAfter a theoretical discussion of
the proposed and related volatility models, the practical performance \r\nof the
elaborated volatility models is compared to well-established and traditional GARCH
approaches. \r\nA general QMLE algorithm is proposed to estimate the model parameters.
The practical relevance of the \r\nadvanced models is illustrated through a comparative
study. By applying these volatility models to a \r\nvariety of international stock
index returns, this paper identifies market-specific characteristics as well \r\nas
unique strengths and weaknesses of discussed volatility models. Although the practical
performance \r\nof the recently introduced models is comparable to those obtained
by the traditional EGARCH model, \r\nthey generally outperform traditional non-exponential
volatility models used as benchmarks and thus \r\nprovide a useful alternative
to existing short and long memory volatility models. "
author:
- first_name: Dominik Christian
full_name: Hanke, Dominik Christian
id: '63677'
last_name: Hanke
- first_name: Yuanhua
full_name: Feng, Yuanhua
id: '20760'
last_name: Feng
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
citation:
ama: Hanke DC, Feng Y, Uhde A. Comparing the Behaviors of Some Original Short
and Long Memory Exponential Volatility Models.; 2026.
apa: Hanke, D. C., Feng, Y., & Uhde, A. (2026). Comparing the behaviors of
some original short and long memory exponential volatility models.
bibtex: '@book{Hanke_Feng_Uhde_2026, title={Comparing the behaviors of some original
short and long memory exponential volatility models}, author={Hanke, Dominik
Christian and Feng, Yuanhua and Uhde, André}, year={2026} }'
chicago: Hanke, Dominik Christian, Yuanhua Feng, and André Uhde. Comparing the
Behaviors of Some Original Short and Long Memory Exponential Volatility Models,
2026.
ieee: D. C. Hanke, Y. Feng, and A. Uhde, Comparing the behaviors of some original
short and long memory exponential volatility models. 2026.
mla: Hanke, Dominik Christian, et al. Comparing the Behaviors of Some Original
Short and Long Memory Exponential Volatility Models. 2026.
short: D.C. Hanke, Y. Feng, A. Uhde, Comparing the Behaviors of Some Original Short
and Long Memory Exponential Volatility Models, 2026.
date_created: 2026-07-13T09:15:09Z
date_updated: 2026-07-16T09:07:24Z
ddc:
- '330'
department:
- _id: '186'
file:
- access_level: open_access
content_type: application/pdf
creator: dhanke
date_created: 2026-07-13T09:14:58Z
date_updated: 2026-07-13T09:14:58Z
file_id: '66448'
file_name: TAF_WP_104_HankeFengUhde2026.pdf
file_size: 1169286
relation: main_file
file_date_updated: 2026-07-13T09:14:58Z
has_accepted_license: '1'
jel:
- C4
- C5
- B23
- B26
- C32
keyword:
- Modulus Log-GARCH
- Modified (FI)EGARCH
- Modulus asymmetric (FI)Log-GARCH
- (FI)EGARCH
- long memory
- modulus-log transformation
- QMLE
- model selection
- implementation in R
language:
- iso: eng
oa: '1'
status: public
title: Comparing the behaviors of some original short and long memory exponential
volatility models
type: working_paper
user_id: '63677'
year: '2026'
...
---
_id: '65862'
abstract:
- lang: eng
text: This study examines how private peers’ disclosure transparency affects public
firms’ information environment, captured through analyst forecast behavior. Focusing
on the most important private firms operating in U.S. industries, we investigate
whether private peer disclosure—despite differing substantially from public firm
disclosure—is incorporated into analysts’ forecasts. In a cross-sectional analysis,
we document lower forecast quality in industries where private peers’ disclosure
intensity is low. In contrast, when private peers’ disclosure intensity is high,
forecast quality does not differ from that in industries with only public peers.
We find consistent results for a subsample of U.S. private peers. Consistent with
this interpretation, a difference-in-differences analysis documents increased
analyst forecast activity around the disclosure dates of private peers. Together,
these findings indicate that analysts incorporate private peers’ information when
these peers are both economically important and sufficiently transparent, and
highlight that variation in private firms’ disclosure intensity generates heterogenous
externalities for public firms. Overall, our evidence supports a cost-benefit
trade-off in analysts’ information acquisition, and, by documenting the relevance
of private peers’ information for public firms, contributes to the debate on the
externalities of private firms’ disclosure transparency.
author:
- first_name: Bianca
full_name: Beyer, Bianca
last_name: Beyer
- first_name: Vanessa
full_name: Flagmeier, Vanessa
last_name: Flagmeier
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
orcid: 0009-0009-2545-5929
citation:
ama: Beyer B, Flagmeier V, Kosi U. Private Peers’ Disclosure Transparency and
Public Firms’ Information Environment. TRR 266 Accounting for Transparency;
2026. doi:10.2139/ssrn.4438123
apa: Beyer, B., Flagmeier, V., & Kosi, U. (2026). Private Peers’ Disclosure
Transparency and Public Firms’ Information Environment. TRR 266 Accounting
for Transparency. https://doi.org/10.2139/ssrn.4438123
bibtex: '@book{Beyer_Flagmeier_Kosi_2026, series={TRR 266 Accounting for Transparency
Working Paper Series No. 143}, title={Private Peers’ Disclosure Transparency and
Public Firms’ Information Environment}, DOI={10.2139/ssrn.4438123},
publisher={TRR 266 Accounting for Transparency}, author={Beyer, Bianca and Flagmeier,
Vanessa and Kosi, Urska}, year={2026}, collection={TRR 266 Accounting for Transparency
Working Paper Series No. 143} }'
chicago: Beyer, Bianca, Vanessa Flagmeier, and Urska Kosi. Private Peers’ Disclosure
Transparency and Public Firms’ Information Environment. TRR 266 Accounting
for Transparency Working Paper Series No. 143. TRR 266 Accounting for Transparency,
2026. https://doi.org/10.2139/ssrn.4438123.
ieee: B. Beyer, V. Flagmeier, and U. Kosi, Private Peers’ Disclosure Transparency
and Public Firms’ Information Environment. TRR 266 Accounting for Transparency,
2026.
mla: Beyer, Bianca, et al. Private Peers’ Disclosure Transparency and Public
Firms’ Information Environment. TRR 266 Accounting for Transparency, 2026,
doi:10.2139/ssrn.4438123.
short: B. Beyer, V. Flagmeier, U. Kosi, Private Peers’ Disclosure Transparency and
Public Firms’ Information Environment, TRR 266 Accounting for Transparency, 2026.
date_created: 2026-06-15T08:15:56Z
date_updated: 2026-08-25T09:58:22Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
doi: 10.2139/ssrn.4438123
language:
- iso: eng
publication_identifier:
issn:
- 1556-5068
publication_status: published
publisher: TRR 266 Accounting for Transparency
series_title: TRR 266 Accounting for Transparency Working Paper Series No. 143
status: public
title: Private Peers’ Disclosure Transparency and Public Firms’ Information Environment
type: working_paper
user_id: '15866'
year: '2026'
...
---
_id: '66347'
author:
- first_name: Mahdi
full_name: Rahali, Mahdi
id: '80161'
last_name: Rahali
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
orcid: 0009-0009-2545-5929
- first_name: Joachim
full_name: Gassen, Joachim
last_name: Gassen
citation:
ama: Rahali M, Kosi U, Gassen J. The Spatial and Sectoral Incidence of Germany’s
COVID-19 Insolvency Gap.
apa: Rahali, M., Kosi, U., & Gassen, J. (n.d.). The spatial and sectoral
incidence of Germany’s COVID-19 insolvency gap.
bibtex: '@book{Rahali_Kosi_Gassen, title={The spatial and sectoral incidence of
Germany’s COVID-19 insolvency gap}, author={Rahali, Mahdi and Kosi, Urska and
Gassen, Joachim} }'
chicago: Rahali, Mahdi, Urska Kosi, and Joachim Gassen. The Spatial and Sectoral
Incidence of Germany’s COVID-19 Insolvency Gap, n.d.
ieee: M. Rahali, U. Kosi, and J. Gassen, The spatial and sectoral incidence of
Germany’s COVID-19 insolvency gap. .
mla: Rahali, Mahdi, et al. The Spatial and Sectoral Incidence of Germany’s COVID-19
Insolvency Gap.
short: M. Rahali, U. Kosi, J. Gassen, The Spatial and Sectoral Incidence of Germany’s
COVID-19 Insolvency Gap, n.d.
date_created: 2026-07-08T07:16:20Z
date_updated: 2026-08-25T09:48:49Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
language:
- iso: eng
publication_status: unpublished
status: public
title: The spatial and sectoral incidence of Germany’s COVID-19 insolvency gap
type: working_paper
user_id: '15866'
year: '2026'
...
---
_id: '65896'
author:
- first_name: Dennis
full_name: Böing, Dennis
id: '99410'
last_name: Böing
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
orcid: 0009-0009-2545-5929
citation:
ama: Böing D, Kosi U. Dissemination of Information by Small Caps.
apa: Böing, D., & Kosi, U. (n.d.). Dissemination of information by small
caps.
bibtex: '@book{Böing_Kosi, title={Dissemination of information by small caps}, author={Böing,
Dennis and Kosi, Urska} }'
chicago: Böing, Dennis, and Urska Kosi. Dissemination of Information by Small
Caps, n.d.
ieee: D. Böing and U. Kosi, Dissemination of information by small caps. .
mla: Böing, Dennis, and Urska Kosi. Dissemination of Information by Small Caps.
short: D. Böing, U. Kosi, Dissemination of Information by Small Caps, n.d.
date_created: 2026-06-15T11:20:59Z
date_updated: 2026-08-25T09:50:10Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
language:
- iso: eng
publication_status: unpublished
status: public
title: Dissemination of information by small caps
type: working_paper
user_id: '15866'
year: '2026'
...
---
_id: '65860'
abstract:
- lang: eng
text: We investigate the role of stakeholders in the CSR reporting of non-listed
savings banks in Germany. They are established by municipal trustees and serve
clients in their distinct operating area. Reporting discretion under the Non-Financial
Reporting Directive may lead to variation in CSR reporting due to differences
in sustainability interests of banks’ stakeholders and CSR governance (e.g. existence
of a CSR manager). We document that the CSR reports and specific CSR dimensions
are intensely associated with the existence of strong CSR governance and to a
lesser extent with the interests of municipal trustees and bank clients. However,
the associations with these stakeholders are predominantly present in banks with
strong CSR governance. Our findings inform policy discussions about detailed CSR
disclosure requirements (e.g. the European Sustainability Reporting Standards)
and extension of reporting scope to firms with regional orientation and absence
of typical shareholders.
author:
- first_name: Maryna
full_name: Gulenko, Maryna
last_name: Gulenko
- first_name: Saskia
full_name: Kohlhase, Saskia
last_name: Kohlhase
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
orcid: 0009-0009-2545-5929
citation:
ama: Gulenko M, Kohlhase S, Kosi U. The Role of Stakeholders in CSR Reporting of
Non-Listed Banks. Accounting in Europe. Published online 2026:1-35. doi:10.1080/17449480.2026.2631702
apa: Gulenko, M., Kohlhase, S., & Kosi, U. (2026). The Role of Stakeholders
in CSR Reporting of Non-Listed Banks. Accounting in Europe, 1–35. https://doi.org/10.1080/17449480.2026.2631702
bibtex: '@article{Gulenko_Kohlhase_Kosi_2026, title={The Role of Stakeholders in
CSR Reporting of Non-Listed Banks}, DOI={10.1080/17449480.2026.2631702},
journal={Accounting in Europe}, publisher={Informa UK Limited}, author={Gulenko,
Maryna and Kohlhase, Saskia and Kosi, Urska}, year={2026}, pages={1–35} }'
chicago: Gulenko, Maryna, Saskia Kohlhase, and Urska Kosi. “The Role of Stakeholders
in CSR Reporting of Non-Listed Banks.” Accounting in Europe, 2026, 1–35.
https://doi.org/10.1080/17449480.2026.2631702.
ieee: 'M. Gulenko, S. Kohlhase, and U. Kosi, “The Role of Stakeholders in CSR Reporting
of Non-Listed Banks,” Accounting in Europe, pp. 1–35, 2026, doi: 10.1080/17449480.2026.2631702.'
mla: Gulenko, Maryna, et al. “The Role of Stakeholders in CSR Reporting of Non-Listed
Banks.” Accounting in Europe, Informa UK Limited, 2026, pp. 1–35, doi:10.1080/17449480.2026.2631702.
short: M. Gulenko, S. Kohlhase, U. Kosi, Accounting in Europe (2026) 1–35.
date_created: 2026-06-15T08:08:05Z
date_updated: 2026-08-25T10:15:25Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
doi: 10.1080/17449480.2026.2631702
language:
- iso: eng
main_file_link:
- open_access: '1'
url: https://doi.org/10.1080/17449480.2026.2631702
oa: '1'
page: 1-35
publication: Accounting in Europe
publication_identifier:
issn:
- 1744-9480
- 1744-9499
publication_status: published
publisher: Informa UK Limited
status: public
title: The Role of Stakeholders in CSR Reporting of Non-Listed Banks
type: journal_article
user_id: '15866'
year: '2026'
...
---
_id: '65894'
abstract:
- lang: eng
text: We examine the relation between voluntary audit and the cost of debt in private
firms. We use a sample of 7420 small private firms operating in the period 2006-2022
that are not subject to mandatory audits. Firms self-select into voluntary audits
because of the economic setting (e.g., ownership complexity, export, subsidiary
status) or because firm fundamentals limit their access to financial debt. In
the outcome analyses, we find that voluntary audits result in higher, rather than
lower, interest rates with increases ranging from approximately 1.7 percentage
points, but going higher depending on the exact specification. This effect is
present regardless of the perceived audit quality (Big-4 vs. non-Big-4), consistent
across auditor types. Audited firms’ earnings are less informative about future
operating performance. Voluntary audits facilitate access to financial debt for
high-risk firms. The price paid is reflected in higher interest rates for voluntary
audits – firms with higher information/fundamental risk.
article_number: '105474'
author:
- first_name: Riste
full_name: Ichev, Riste
last_name: Ichev
- first_name: Jernej
full_name: Koren, Jernej
last_name: Koren
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
orcid: 0009-0009-2545-5929
- first_name: Katarina
full_name: Sitar Sustar, Katarina
last_name: Sitar Sustar
- first_name: Aljosa
full_name: Valentincic, Aljosa
last_name: Valentincic
citation:
ama: 'Ichev R, Koren J, Kosi U, Sitar Sustar K, Valentincic A. Cost of debt for
private firms revisited: voluntary audits as a reflection of risk. International
Review of Economics & Finance. 2026;109. doi:10.1016/j.iref.2026.105474'
apa: 'Ichev, R., Koren, J., Kosi, U., Sitar Sustar, K., & Valentincic, A. (2026).
Cost of debt for private firms revisited: voluntary audits as a reflection of
risk. International Review of Economics & Finance, 109, Article
105474. https://doi.org/10.1016/j.iref.2026.105474'
bibtex: '@article{Ichev_Koren_Kosi_Sitar Sustar_Valentincic_2026, title={Cost of
debt for private firms revisited: voluntary audits as a reflection of risk}, volume={109},
DOI={10.1016/j.iref.2026.105474},
number={105474}, journal={International Review of Economics & Finance}, publisher={Elsevier
}, author={Ichev, Riste and Koren, Jernej and Kosi, Urska and Sitar Sustar, Katarina
and Valentincic, Aljosa}, year={2026} }'
chicago: 'Ichev, Riste, Jernej Koren, Urska Kosi, Katarina Sitar Sustar, and Aljosa
Valentincic. “Cost of Debt for Private Firms Revisited: Voluntary Audits as a
Reflection of Risk.” International Review of Economics & Finance 109
(2026). https://doi.org/10.1016/j.iref.2026.105474.'
ieee: 'R. Ichev, J. Koren, U. Kosi, K. Sitar Sustar, and A. Valentincic, “Cost of
debt for private firms revisited: voluntary audits as a reflection of risk,” International
Review of Economics & Finance, vol. 109, Art. no. 105474, 2026, doi: 10.1016/j.iref.2026.105474.'
mla: 'Ichev, Riste, et al. “Cost of Debt for Private Firms Revisited: Voluntary
Audits as a Reflection of Risk.” International Review of Economics & Finance,
vol. 109, 105474, Elsevier , 2026, doi:10.1016/j.iref.2026.105474.'
short: R. Ichev, J. Koren, U. Kosi, K. Sitar Sustar, A. Valentincic, International
Review of Economics & Finance 109 (2026).
date_created: 2026-06-15T10:26:04Z
date_updated: 2026-08-25T10:18:05Z
department:
- _id: '186'
- _id: '551'
- _id: '635'
doi: 10.1016/j.iref.2026.105474
intvolume: ' 109'
language:
- iso: eng
main_file_link:
- open_access: '1'
url: https://doi.org/10.1016/j.iref.2026.105474
oa: '1'
publication: International Review of Economics & Finance
publication_identifier:
issn:
- 1059-0560
publication_status: published
publisher: 'Elsevier '
status: public
title: 'Cost of debt for private firms revisited: voluntary audits as a reflection
of risk'
type: journal_article
user_id: '15866'
volume: 109
year: '2026'
...