@article{50719, abstract = {{We propose an indicator for detecting anomalous stock market valuation in real time such that market participants receive timely signals so as to be able to take stabilizing action. Unlike existing approaches, our anomaly indicator introduces three methodological novelties. First, we use an endogenous, purely data-driven, nonparametric trend identification method to separate long-term market movements from more short-term ones. Second, we apply SETAR models that allow for asymmetric expansions and contractions around the long-term trend and find systematic stock price cycles. Third, we implement these findings in our indicator and conduct real-time market forecasts, which have so far been neglected in the literature. Applications of our indicator using monthly S&P 500 stock data from 1970 to the end of 2022 show that short-term anomalous market movements can be identified in real time up to one year ahead. We predict all major anomalies, including the 1987 Bubble and the initial phase of the Financial Crisis that began in 2007. In total, our anomaly indicator identifies more than 80% of all – even minor – anomalous episodes. Thus, smoothing market exaggerations through early signaling seems possible.}}, author = {{Fritz, Marlon and Gries, Thomas and Wiechers, Lukas}}, issn = {{1469-7688}}, journal = {{Quantitative Finance}}, keywords = {{General Economics, Econometrics and Finance, Finance}}, pages = {{1--14}}, publisher = {{Informa UK Limited}}, title = {{{An early indicator for anomalous stock market performance}}}, doi = {{10.1080/14697688.2023.2281529}}, year = {{2024}}, } @article{48512, author = {{Deng, Wei and Hubner-Benz, Sylvia and Frese, Michael and Song, Zhaoli}}, issn = {{1075-4253}}, journal = {{Journal of International Management}}, keywords = {{Strategy and Management, Finance, Business and International Management}}, number = {{3}}, publisher = {{Elsevier BV}}, title = {{{Different ways lead to ambidexterity: Configurations for team innovation across China, India, and Singapore}}}, doi = {{10.1016/j.intman.2023.101027}}, volume = {{29}}, year = {{2023}}, } @article{53329, author = {{Tao, Youshan and Winkler, Michael}}, issn = {{1468-1218}}, journal = {{Nonlinear Analysis: Real World Applications}}, keywords = {{Applied Mathematics, Computational Mathematics, General Economics, Econometrics and Finance, General Engineering, General Medicine, Analysis}}, publisher = {{Elsevier BV}}, title = {{{Analysis of a chemotaxis-SIS epidemic model with unbounded infection force}}}, doi = {{10.1016/j.nonrwa.2022.103820}}, volume = {{71}}, year = {{2023}}, } @article{44591, abstract = {{AbstractThe ability of various policy activities to reduce the reproduction rate of the COVID-19 disease is widely discussed. Using a stringency index that comprises a variety of lockdown levels, such as school and workplace closures, we analyze the effectiveness of government restrictions. At the same time, we investigate the capacity of a range of lockdown measures to lower the reproduction rate by considering vaccination rates and testing strategies. By including all three components in an SIR (Susceptible, Infected, Recovery) model, we show that a general and comprehensive test strategy is instrumental in reducing the spread of COVID-19. The empirical study demonstrates that testing and isolation represent a highly effective and preferable approach towards overcoming the pandemic, in particular until vaccination rates have risen to the point of herd immunity.}}, author = {{Fritz, Marlon and Gries, Thomas and Redlin, Margarete}}, issn = {{2199-9023}}, journal = {{International Journal of Health Economics and Management}}, keywords = {{Health Policy, Economics, Econometrics and Finance (miscellaneous)}}, publisher = {{Springer Science and Business Media LLC}}, title = {{{The effectiveness of vaccination, testing, and lockdown strategies against COVID-19}}}, doi = {{10.1007/s10754-023-09352-1}}, year = {{2023}}, } @article{41929, abstract = {{AbstractThe advent of social media and its commodification have created a never-ending feedback loop between businesses and their customers. In this context, constant negative Word-of-Mouth (NWOM) may jeopardize a corporate image and cause defensiveness in corporate communication. This paper presents a case study of several customer service accounts of the railway company Deutsche Bahn on Twitter to investigate the management and control of constant NWOM and the impact of accountability strategies on customers’ perception of the firm. To this end, a sample of 36,757 Twitter postings was drawn and analyzed by means of sentiment and content analysis techniques. The findings suggest that the perceived accountability towards the firm declined in case of an attitude shift towards the user. In contrast, the firm was being held accountable more insistently after expressed defensiveness, regardless of the firm’s actual accountableness. With this paper, we introduce the notion of accountability management and an accompanying theoretical framework to the literature. This provides a novel perspective on constant NWOM countermeasures for organizations that are part of ‘toxic’ industries or face unrightfully claimed accusations, i.e., when being held accountable for outer circumstances beyond their control.}}, author = {{Mirbabaie, Milad and Stieglitz, Stefan and Marx, Julian}}, issn = {{2366-6153}}, journal = {{Schmalenbach Journal of Business Research}}, keywords = {{Management of Technology and Innovation, General Economics, Econometrics and Finance, General Business, Management and Accounting}}, publisher = {{Springer Science and Business Media LLC}}, title = {{{Negative Word of Mouth On Social Media: A Case Study of Deutsche Bahn’s Accountability Management}}}, doi = {{10.1007/s41471-022-00152-w}}, year = {{2023}}, } @article{43105, author = {{Black, Tobias and Fuest, Mario and Lankeit, Johannes and Mizukami, Masaaki}}, issn = {{1468-1218}}, journal = {{Nonlinear Analysis: Real World Applications}}, keywords = {{Applied Mathematics, Computational Mathematics, General Economics, Econometrics and Finance, General Engineering, General Medicine, Analysis}}, publisher = {{Elsevier BV}}, title = {{{Possible points of blow-up in chemotaxis systems with spatially heterogeneous logistic source}}}, doi = {{10.1016/j.nonrwa.2023.103868}}, volume = {{73}}, year = {{2023}}, } @article{33665, author = {{Fritz, Marlon}}, issn = {{2110-7017}}, journal = {{International Economics}}, keywords = {{General Economics, Econometrics and Finance, General Business, Management and Accounting}}, pages = {{157--167}}, publisher = {{Elsevier BV}}, title = {{{Improved output gap estimates and forecasts using a local linear regression}}}, doi = {{10.1016/j.inteco.2022.09.007}}, volume = {{172}}, year = {{2022}}, } @article{34473, abstract = {{Psychologists claim that being treated kindly puts individuals in a positive emotional state: they then treat an unrelated third party more kindly. Numerous experiments document that subjects indeed ‘pay forward’ specific behavior. For example, they are less generous after having experienced stinginess. This, however, is not necessarily driven by emotions. Subjects may also imitate what they regard as socially adequate behavior. Here, I present an experiment in which imitation is not possible at the next opportunity to act with a stranger: after being given either a fun or an annoying job, subjects have to decide whether to be generous or not. I find that although subjects who are given the annoying job report more negative emotions than those with the fun job, they do not treat an unrelated third person more unkindly in terms of passing on less money. }}, author = {{Schnedler, Wendelin}}, issn = {{0899-8256}}, journal = {{Games and Economic Behavior}}, keywords = {{Economics and Econometrics, Finance}}, pages = {{542--558}}, publisher = {{Elsevier BV}}, title = {{{The broken chain: Evidence against emotionally driven upstream indirect reciprocity}}}, doi = {{10.1016/j.geb.2022.10.008}}, volume = {{136}}, year = {{2022}}, } @article{46580, author = {{Fahr, René and Janssen, Elmar and Sureth-Sloane, Caren}}, issn = {{0015-2218}}, journal = {{FinanzArchiv}}, keywords = {{Finance}}, number = {{1-2}}, publisher = {{Mohr Siebeck}}, title = {{{Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment}}}, doi = {{10.1628/fa-2022-0001}}, volume = {{78}}, year = {{2022}}, } @article{39362, abstract = {{AbstractThis article presents an overview of characteristics of Citizen Social Science (CSS) in Germany. CSS is defined as scientific research in the humanities and social sciences, carried out in cooperation between professional and non-professional researchers. The study draws on an online survey and semi-structured interviews with project coordinators and co-researchers. It finds that participatory research activities in the humanities and social sciences are very diverse in their disciplinary traditions and organisational settings. Key features of CSS activities initiated inside as well as outside academic institutions are analysed to understand patterns of participation and cooperation. The results show that CSS activities are frequently realised in heterogeneous consortia of academic and non-academic partners. These consortia influence interactions between professional and non-professional researchers. To investigate these observations further, the article extends the analytical gaze from participation of individual volunteers to various forms of cooperation in consortia. This shift in attention brings to sight additional actors and activities that are usually not, or only marginally, considered in discussions about C(S)S. Staff of civil society organisations, municipalities, schools or cross-sectoral initiatives as well as university students are involved in making CSS work. In addition to research tasks, CSS rests on science communication, project management and intermediation activities. This extended perspective captures more diverse constellations of knowledge production in participatory research in the social sciences and humanities than the common focus on participation. In this way, the article aims to lay the groundwork for understanding the functioning of CSS beyond aspects described by the concept of invited and uninvited participation. It shows that CSS activities are not limited to capacitating lay people for participation in science. A more adequate description is that such projects are concerned with facilitating cooperation with co-researchers and other partners in consortia inside and outside of academia. On this basis, the article introduces the notion of cooperation capacity as a heuristic device to propose new prompts for research on CSS as well as for supporting CSS practice.}}, author = {{Göbel, Claudia and Mauermeister, Sylvi and Henke, Justus}}, issn = {{2662-9992}}, journal = {{Humanities and Social Sciences Communications}}, keywords = {{General Economics, Econometrics and Finance, General Psychology, General Social Sciences, General Arts and Humanities, General Business, Management and Accounting}}, number = {{1}}, publisher = {{Springer Science and Business Media LLC}}, title = {{{Citizen Social Science in Germany—cooperation beyond invited and uninvited participation}}}, doi = {{10.1057/s41599-022-01198-1}}, volume = {{9}}, year = {{2022}}, } @article{42671, abstract = {{Artificial conversational agents are becoming increasingly popular in various spheres of life. Contemporary AI is able to talk to humans using sophis­ticated conversational techniques and human-like conversational patterns. For instance, Google Duplex, a cutting-edge voice interface, is capable of autonomously making customer service calls that barely register as robotic. With the frequency of human-computer interactions on the rise, there is a growing need to study their features: how misunderstandings are resolved, how conversational aims are achieved. This article is an empirical investigation of the interaction between an advanced conver­sational agent and human interactant. Using the framework of ethnomethodology and conversation analysis, the authors analyze the procedurally unfolding and naturally emerging conversational practices, as well as the normative structures that emerge as a result. The research is based on a recording of a call between Google Duplex and a human operator. We explore how to reach conversational closing — a microstructure that requires cooperation between the speakers. Despite interactional tensions caused by the robot’s incongruous prosody, conversational closing is produced by the gradual achievement of epistemic balance. The authors empha­size the relationship between the institu­tional context of the interaction and the non-human agent’s robotic nature. The results serve as a foundation for future studies in human-robot interaction and provide a deeper understanding of how conversational closings are achieved in liminal cases.}}, author = {{Egorova, Anastasia I. and Klowait, Nils}}, issn = {{2219-5467}}, journal = {{The monitoring of public opinion economic&social changes}}, keywords = {{Economics, Econometrics and Finance (miscellaneous), Sociology and Political Science}}, number = {{1}}, publisher = {{VCIOM, Russia (Russian Public Opinion Research Center)}}, title = {{{How to Say Good-Bye to a Robot? The Matter of Conversational Closing}}}, doi = {{10.14515/monitoring.2021.1.1810}}, year = {{2021}}, } @article{42670, abstract = {{The field of human-computer interaction (HCI) investigates the intersection between the design of devices and users. From an early focus on interaction modeling based on psychological experiments, the field has since experienced a shift towards the study of how actual humans interact with autonomous devices. The field became conductive to ethnographic, observational and videographic studies of human-device interaction. Conversation-analytic HCI became possible. That said, this new wave of researchers was never truly able to dethrone the psychological common sense of the field. With recent developments in both the technical-sensorial capabilities and outward actuational range of embodied virtual agents, the field of HCI has once again returned to the question of the sequential unfolding of the interaction between users and intelligent agents, and the multimodal interactional repertoire that is deployed throughout. This review will highlight the situational orientation of high-impact research in the field, and relate it to the cotemporaneous development of ethnomethodological and conversation analytic frameworks. Acknowledgments. The article was prepared in the framework of a research grant funded by the Ministry of Science and Higher Education of the Russian Federation (grant ID: 075-15-2020-908). The article was prepared in cooperation with the Sber (ex. – Sberbank’s) Gamification Lab.}}, author = {{Klowait, Nils and Erofeeva, Maria A.}}, issn = {{2219-5467}}, journal = {{The monitoring of public opinion economic&social changes}}, keywords = {{Economics, Econometrics and Finance (miscellaneous), Sociology and Political Science}}, number = {{1}}, publisher = {{VCIOM, Russia (Russian Public Opinion Research Center)}}, title = {{{The Rise of Interactional Multimodality in Human-Computer Interaction}}}, doi = {{10.14515/monitoring.2021.1.1793}}, year = {{2021}}, } @article{47919, abstract = {{AbstractWe examine whether and how political embeddedness influences financial reporting quality in China by investigating how government ownership and political connections affect Chinese listed firms’ choices of earnings management strategies. The results show that state‐owned enterprises (SOEs), and in particular, central SOEs, are more likely to substitute accrual‐based earnings management strategies with costlier but less detectable real earnings management strategies than non‐SOEs. The results also indicate that politically connected enterprises (PCEs) are more likely to employ less detectable real earnings management strategies than non‐PCEs, so much so that PCEs’ total earnings management level is higher than that of non‐PCEs.}}, author = {{Wang, Zhi and Braam, Geert and Reimsbach, Daniel and Wang, Jiaxin}}, issn = {{0810-5391}}, journal = {{Accounting & Finance}}, keywords = {{Economics, Econometrics and Finance (miscellaneous), Finance, Accounting}}, number = {{5}}, pages = {{4723--4755}}, publisher = {{Wiley}}, title = {{{Political embeddedness and firms’ choices of earnings management strategies in China}}}, doi = {{10.1111/acfi.12690}}, volume = {{60}}, year = {{2020}}, } @article{41180, author = {{Ortmann, Regina and Pelster, Matthias and Wengerek, Sascha Tobias}}, issn = {{1544-6123}}, journal = {{Finance Research Letters}}, keywords = {{Finance}}, publisher = {{Elsevier BV}}, title = {{{COVID-19 and investor behavior}}}, doi = {{10.1016/j.frl.2020.101717}}, volume = {{37}}, year = {{2020}}, } @article{29224, abstract = {{Altruistically motivated investment has become the subject of economic, psychological and sociological research in recent years. The long tradition of ethical considerations concerning investment behavior has often been mentioned by historians but rarely investigated. This paper presents a case study of the 19th century philhellene banker Jean-Gabriel Eynard, who was philanthropically active in Greece, but also invested part of his capital on the emerging Greek market. Drawing on the methodological approach of the “sociology of morality”, this article examines how Eynard invested in Greece, which norms and values concerning investment behavior he articulated and how far they were comparable with the norms and values of today’s Socially Responsible Investment. What emerges is that the practices and the norms of Socially Responsible and Ethical Investment then and now are remarkably similar, while the “moral background” (G. Abend) has changed considerably in some, but not all points.}}, author = {{Schönhärl, Korinna}}, issn = {{0340-8728}}, journal = {{Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte}}, keywords = {{Economics, Econometrics and Finance (miscellaneous), Sociology and Political Science, History, Cultural Studies}}, number = {{2}}, pages = {{167--190}}, publisher = {{Wissenschaftliche Verlagsgesellschaft mbH}}, title = {{{Socially Responsible Investment in 19th Century Greece: A Case Study of a Swiss Banker}}}, doi = {{10.25162/vswg-2019-0007}}, volume = {{106}}, year = {{2019}}, } @article{46803, abstract = {{ABSTRACTDrawing on the political theory of judicial decision making, our paper proposes a new and parsimonious ex ante litigation risk measure: federal judge ideology. We find that judge ideology complements existing measures of litigation risk based on industry membership and firm characteristics. Firms in liberal circuits (the third quartile in ideology) are 33.5% more likely to be sued in securities class action lawsuits than those in conservative circuits (the first quartile in ideology). This result is stronger after the U.S. Supreme Court's ruling in the Tellabs case. We next show that the effect of judge ideology on litigation risk is greater for firms with more sophisticated shareholders and with higher expected litigation costs. Furthermore, judicial appointments affect litigation risk and the value of firms in the circuit, highlighting the economic consequences of political appointments of judges. Finally, using our new measure, we document that litigation risk deters managers from providing long‐term earnings guidance, a result that existing measures of litigation risk cannot show.}}, author = {{HUANG, ALLEN and HUI, KAI WAI and Li, Reeyarn}}, issn = {{0021-8456}}, journal = {{Journal of Accounting Research}}, keywords = {{Economics and Econometrics, Finance, Accounting}}, number = {{2}}, pages = {{431--489}}, publisher = {{Wiley}}, title = {{{Federal Judge Ideology: A New Measure of Ex Ante Litigation Risk}}}, doi = {{10.1111/1475-679x.12260}}, volume = {{57}}, year = {{2019}}, } @article{45588, author = {{Kesternich, Martin and Römer, Daniel and Flues, Florens}}, issn = {{0014-2921}}, journal = {{European Economic Review}}, keywords = {{Economics and Econometrics, Finance}}, pages = {{76--91}}, publisher = {{Elsevier BV}}, title = {{{The power of active choice: Field experimental evidence on repeated contribution decisions to a carbon offsetting program}}}, doi = {{10.1016/j.euroecorev.2019.02.001}}, volume = {{114}}, year = {{2019}}, } @article{40492, author = {{Sackel, Johanna}}, issn = {{0340-8728}}, journal = {{Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte}}, keywords = {{Economics, Econometrics and Finance (miscellaneous), Sociology and Political Science, History, Cultural Studies}}, number = {{2}}, pages = {{183--200}}, publisher = {{Wissenschaftliche Verlagsgesellschaft mbH}}, title = {{{„Rationale Fischerei“? Das Konzept des Maximum Sustainable Yield im Spannungsfeld von Ökonomie und Ökologie}}}, doi = {{10.25162/vswg-2018-0005}}, volume = {{105}}, year = {{2018}}, } @article{47913, author = {{Reimsbach, Daniel and Hahn, Rüdiger and Gürtürk, Anil}}, issn = {{0963-8180}}, journal = {{European Accounting Review}}, keywords = {{Business, Management and Accounting (miscellaneous), Accounting, Business and International Management, Economics, Econometrics and Finance (miscellaneous), Economics and Econometrics, Finance}}, number = {{3}}, pages = {{559--581}}, publisher = {{Informa UK Limited}}, title = {{{Integrated Reporting and Assurance of Sustainability Information: An Experimental Study on Professional Investors’ Information Processing}}}, doi = {{10.1080/09638180.2016.1273787}}, volume = {{27}}, year = {{2017}}, } @article{45589, author = {{Kesternich, Martin and Lange, Andreas and Sturm, Bodo}}, issn = {{1386-4157}}, journal = {{Experimental Economics}}, keywords = {{Economics, Econometrics and Finance (miscellaneous)}}, number = {{1}}, pages = {{180--204}}, publisher = {{Springer Science and Business Media LLC}}, title = {{{On the performance of rule-based contribution schemes under endowment heterogeneity}}}, doi = {{10.1007/s10683-017-9535-2}}, volume = {{21}}, year = {{2017}}, }