--- _id: '29049' abstract: - lang: eng text: "This study investigates the conditions under which tax rate changes accelerate risky investments.\r\nWhile tax rate increases are often expected to harm investment, analytical\r\nstudies find tax rate increases may foster investment under flexibility.We design a theorybased\r\nexperimentwith a binomial random walk and entry–exit flexibility.We find accelerated\r\ninvestment upon tax rate increases irrespective of an exit option, but no corresponding\r\nresponse to tax cuts. This asymmetry may be due to tax salience and mechanisms\r\nfrom irreversible choice under uncertainty. Given this evidence of unexpected tax-reform\r\neffects, tax policymakers should carefully consider behavioral aspects." article_type: original author: - first_name: René full_name: Fahr, René last_name: Fahr - first_name: Elmar A. full_name: Janssen, Elmar A. last_name: Janssen - first_name: Caren full_name: Sureth-Sloane, Caren id: '530' last_name: Sureth-Sloane orcid: ' 0000-0002-8183-5901' citation: ama: Fahr R, Janssen EA, Sureth-Sloane C. Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment. FinanzArchiv / Public Finance Analysis. 2022;78(1-2):239-289. apa: Fahr, R., Janssen, E. A., & Sureth-Sloane, C. (2022). Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment. FinanzArchiv / Public Finance Analysis, 78(1–2), 239–289. bibtex: '@article{Fahr_Janssen_Sureth-Sloane_2022, title={Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment}, volume={78}, number={1–2}, journal={FinanzArchiv / Public Finance Analysis}, author={Fahr, René and Janssen, Elmar A. and Sureth-Sloane, Caren}, year={2022}, pages={239–289} }' chicago: 'Fahr, René, Elmar A. Janssen, and Caren Sureth-Sloane. “Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment.” FinanzArchiv / Public Finance Analysis 78, no. 1–2 (2022): 239–89.' ieee: R. Fahr, E. A. Janssen, and C. Sureth-Sloane, “Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment,” FinanzArchiv / Public Finance Analysis, vol. 78, no. 1–2, pp. 239–289, 2022. mla: Fahr, René, et al. “Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment.” FinanzArchiv / Public Finance Analysis, vol. 78, no. 1–2, 2022, pp. 239–89. short: R. Fahr, E.A. Janssen, C. Sureth-Sloane, FinanzArchiv / Public Finance Analysis 78 (2022) 239–289. date_created: 2021-12-20T08:23:13Z date_updated: 2022-11-13T09:58:10Z department: - _id: '187' intvolume: ' 78' issue: 1-2 jel: - H25 - H21 - C91 keyword: - Economic ExperimentM - Investment Decisions - Tax Effects - Timing Flexibility - Uncertainty language: - iso: eng page: 239-289 publication: FinanzArchiv / Public Finance Analysis publication_status: published status: public title: Can Tax Rate Changes Accelerate Investment under Entry and Exit Flexibility? – Insights from an Economic Experiment type: journal_article user_id: '530' volume: 78 year: '2022' ... --- _id: '16249' abstract: - lang: eng text: Timing plays a crucial role in the context of information security investments. We regard timing in two dimensions, namely the time of announcement in relation to the time of investment and the time of announcement in relation to the time of a fundamental security incident. The financial value of information security investments is assessed by examining the relationship between the investment announcements and their stock market reaction focusing on the two time dimensions. Using an event study methodology, we found that both dimensions influence the stock market return of the investing organization. Our results indicate that (1) after fundamental security incidents in a given industry, the stock price will react more positively to a firm’s announcement of actual information security investments than to announcements of the intention to invest; (2) the stock price will react more positively to a firm’s announcements of the intention to invest after the fundamental security incident compared to before; and (3) the stock price will react more positively to a firm’s announcements of actual information security investments after the fundamental security incident compared to before. Overall, the lowest abnormal return can be expected when the intention to invest is announced before a fundamental information security incident and the highest return when actual investing after a fundamental information security incident in the respective industry. author: - first_name: Eva full_name: Szubartowicz, Eva last_name: Szubartowicz - first_name: Guido full_name: Schryen, Guido id: '72850' last_name: Schryen citation: ama: 'Szubartowicz E, Schryen G. Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements. Journal of Information System Security. 2020;16(1):3-31.' apa: 'Szubartowicz, E., & Schryen, G. (2020). Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements. Journal of Information System Security, 16(1), 3–31.' bibtex: '@article{Szubartowicz_Schryen_2020, title={Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements}, volume={16}, number={1}, journal={Journal of Information System Security}, publisher={Information Institute Publishing, Washington DC, USA}, author={Szubartowicz, Eva and Schryen, Guido}, year={2020}, pages={3–31} }' chicago: 'Szubartowicz, Eva, and Guido Schryen. “Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements.” Journal of Information System Security 16, no. 1 (2020): 3–31.' ieee: 'E. Szubartowicz and G. Schryen, “Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements,” Journal of Information System Security, vol. 16, no. 1, pp. 3–31, 2020.' mla: 'Szubartowicz, Eva, and Guido Schryen. “Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements.” Journal of Information System Security, vol. 16, no. 1, Information Institute Publishing, Washington DC, USA, 2020, pp. 3–31.' short: E. Szubartowicz, G. Schryen, Journal of Information System Security 16 (2020) 3–31. date_created: 2020-03-05T10:29:00Z date_updated: 2022-01-06T06:52:47Z ddc: - '000' department: - _id: '277' file: - access_level: open_access content_type: application/pdf creator: hsiemes date_created: 2020-03-05T10:26:11Z date_updated: 2020-03-05T10:35:49Z file_id: '16250' file_name: Timing in Information Security - JISSEC format PREPUBLICATION.pdf file_size: 478056 relation: main_file file_date_updated: 2020-03-05T10:35:49Z has_accepted_license: '1' intvolume: ' 16' issue: '1' keyword: - Event Study - Information Security - Investment Announcements - Stock Price Reaction - Value of Information Security Investments language: - iso: eng oa: '1' page: 3 - 31 publication: Journal of Information System Security publisher: Information Institute Publishing, Washington DC, USA status: public title: 'Timing in Information Security: An Event Study on the Impact of Information Security Investment Announcements' type: journal_article user_id: '61579' volume: 16 year: '2020' ... --- _id: '1452' abstract: - lang: eng text: Opinion leaders of an investment network can have a significant impact on capital mar-kets because their investment decisions are adopted by their peers and trigger large trad-ing cascades, increasing herding behavior and comovement among stock returns. This paper analyzes the interaction-based relations of traders from a large social trading plat-form and identifies the driving forces and the opinion leaders within a large online trading network as the nodes with the highest centrality and the highest force of infection, respec-tively. Relying on recent insights from epidemiological research, I maintain that central-ity identifies the most central traders in the network, while the expected force quantifies the most influential traders and their spreading power. I study the behavior and charac-teristics that set central and influential traders apart from other traders. The ability to identify focal points and their trading behavior within a trading network is important for investors, investment advisers, and policy makers. article_type: original author: - first_name: Matthias full_name: Pelster, Matthias id: '67265' last_name: Pelster orcid: ' https://orcid.org/0000-0001-5740-2420' citation: ama: 'Pelster M. I’ll Have What S/he’s Having: A Case Study of a Social Trading Network. Proceedings of the International Conference on Information Systems. 2017.' apa: 'Pelster, M. (2017). I’ll Have What S/he’s Having: A Case Study of a Social Trading Network. Proceedings of the International Conference on Information Systems.' bibtex: '@article{Pelster_2017, title={I’ll Have What S/he’s Having: A Case Study of a Social Trading Network}, journal={Proceedings of the International Conference on Information Systems}, author={Pelster, Matthias}, year={2017} }' chicago: 'Pelster, Matthias. “I’ll Have What S/He’s Having: A Case Study of a Social Trading Network.” Proceedings of the International Conference on Information Systems, 2017.' ieee: 'M. Pelster, “I’ll Have What S/he’s Having: A Case Study of a Social Trading Network,” Proceedings of the International Conference on Information Systems, 2017.' mla: 'Pelster, Matthias. “I’ll Have What S/He’s Having: A Case Study of a Social Trading Network.” Proceedings of the International Conference on Information Systems, 2017.' short: M. Pelster, Proceedings of the International Conference on Information Systems (2017). date_created: 2018-03-20T11:34:47Z date_updated: 2022-01-06T06:52:00Z department: - _id: '186' - _id: '578' keyword: - Online trading - investment advice - network modeling - Expected Force - herding. language: - iso: eng publication: Proceedings of the International Conference on Information Systems publication_status: published status: public title: 'I’ll Have What S/he’s Having: A Case Study of a Social Trading Network' type: journal_article urn: '14524' user_id: '67265' year: '2017' ... --- _id: '5588' abstract: - lang: eng text: The protection of information technology (IT) has become and is predicted to remain a key economic challenge for organizations. While research on IT security investment is fast growing, it lacks a theoretical basis for structuring research, explaining economic-technological phenomena and guide future research. We address this shortcoming by suggesting a new theoretical model emerging from a multi-theoretical perspective adopt-ing the Resource-Based View and the Organizational Learning Theory. The joint appli-cation of these theories allows to conceptualize in one theoretical model the organiza-tional learning effects that occur when the protection of organizational resources through IT security countermeasures develops over time. We use this model of IT security invest-ments to synthesize findings of a large body of literature and to derive research gaps. We also discuss managerial implications of (closing) these gaps by providing practical ex-amples. author: - first_name: Eva full_name: Weishäupl, Eva last_name: Weishäupl - first_name: Emrah full_name: Yasasin, Emrah last_name: Yasasin - first_name: Guido full_name: Schryen, Guido id: '72850' last_name: Schryen citation: ama: 'Weishäupl E, Yasasin E, Schryen G. A Multi-Theoretical Literature Review on Information Security Investments using the Resource-Based View and the Organizational Learning Theory. In: International Conference on Information Systems. ; 2015.' apa: Weishäupl, E., Yasasin, E., & Schryen, G. (2015). A Multi-Theoretical Literature Review on Information Security Investments using the Resource-Based View and the Organizational Learning Theory. In International Conference on Information Systems. bibtex: '@inproceedings{Weishäupl_Yasasin_Schryen_2015, title={A Multi-Theoretical Literature Review on Information Security Investments using the Resource-Based View and the Organizational Learning Theory}, booktitle={International Conference on Information Systems}, author={Weishäupl, Eva and Yasasin, Emrah and Schryen, Guido}, year={2015} }' chicago: Weishäupl, Eva, Emrah Yasasin, and Guido Schryen. “A Multi-Theoretical Literature Review on Information Security Investments Using the Resource-Based View and the Organizational Learning Theory.” In International Conference on Information Systems, 2015. ieee: E. Weishäupl, E. Yasasin, and G. Schryen, “A Multi-Theoretical Literature Review on Information Security Investments using the Resource-Based View and the Organizational Learning Theory,” in International Conference on Information Systems, 2015. mla: Weishäupl, Eva, et al. “A Multi-Theoretical Literature Review on Information Security Investments Using the Resource-Based View and the Organizational Learning Theory.” International Conference on Information Systems, 2015. short: 'E. Weishäupl, E. Yasasin, G. Schryen, in: International Conference on Information Systems, 2015.' date_created: 2018-11-14T11:25:38Z date_updated: 2022-01-06T07:02:03Z ddc: - '000' department: - _id: '277' extern: '1' file: - access_level: open_access content_type: application/pdf creator: hsiemes date_created: 2018-12-07T11:45:31Z date_updated: 2018-12-13T15:09:32Z file_id: '6038' file_name: ICIS PROCEEDINGS PAPER - Security Investments.pdf file_size: 958019 relation: main_file file_date_updated: 2018-12-13T15:09:32Z has_accepted_license: '1' keyword: - Information Security - Investment - Literature review - Resource-based View - Organi-zational Learning Theory - Multi-theoretical Perspective language: - iso: eng oa: '1' publication: International Conference on Information Systems status: public title: A Multi-Theoretical Literature Review on Information Security Investments using the Resource-Based View and the Organizational Learning Theory type: conference user_id: '61579' year: '2015' ... --- _id: '5590' abstract: - lang: eng text: 'Nowadays, providing employees with failure-free access to various systems, applications and services is a crucial factor for organizations? success as disturbances potentially inhibit smooth workflows and thereby harm productivity. However, it is a challenging task to assign access rights to employees? accounts within a satisfying time frame. In addition, the management of multiple accounts and identities can be very onerous and time consuming for the responsible administrator and therefore expensive for the organization. In order to meet these challenges, firms decide to invest in introducing an Identity and Access Management System (IAMS) that supports the organization by using policies to assign permissions to accounts, groups, and roles. In practice, since various versions of IAMSs exist, it is a challenging task to decide upon introduction of an IAMS. The following study proposes a first attempt of a decision support model for practitioners which considers four alternatives: Introduction of an IAMS with Role-based Access Control RBAC) or without and no introduction of IAMS again with or without RBAC. To underpin the practical applicability of the proposed model, we parametrize and operationalize it based on a real world use case using input from an expert interview.' author: - first_name: Eva full_name: Weishäupl, Eva last_name: Weishäupl - first_name: Michael full_name: Kunz, Michael last_name: Kunz - first_name: Emrah full_name: Yasasin, Emrah last_name: Yasasin - first_name: Gerit full_name: Wagner, Gerit last_name: Wagner - first_name: Julian full_name: Prester, Julian last_name: Prester - first_name: Guido full_name: Schryen, Guido id: '72850' last_name: Schryen - first_name: Günther full_name: Pernul, Günther last_name: Pernul citation: ama: 'Weishäupl E, Kunz M, Yasasin E, et al. Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory. In: 2nd International Workshop on Security in Highly Connected IT Systems (SHCIS?15). ; 2015.' apa: Weishäupl, E., Kunz, M., Yasasin, E., Wagner, G., Prester, J., Schryen, G., & Pernul, G. (2015). Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory. In 2nd International Workshop on Security in highly connected IT Systems (SHCIS?15). bibtex: '@inproceedings{Weishäupl_Kunz_Yasasin_Wagner_Prester_Schryen_Pernul_2015, title={Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory}, booktitle={2nd International Workshop on Security in highly connected IT Systems (SHCIS?15)}, author={Weishäupl, Eva and Kunz, Michael and Yasasin, Emrah and Wagner, Gerit and Prester, Julian and Schryen, Guido and Pernul, Günther}, year={2015} }' chicago: Weishäupl, Eva, Michael Kunz, Emrah Yasasin, Gerit Wagner, Julian Prester, Guido Schryen, and Günther Pernul. “Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory.” In 2nd International Workshop on Security in Highly Connected IT Systems (SHCIS?15), 2015. ieee: E. Weishäupl et al., “Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory,” in 2nd International Workshop on Security in highly connected IT Systems (SHCIS?15), 2015. mla: Weishäupl, Eva, et al. “Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory.” 2nd International Workshop on Security in Highly Connected IT Systems (SHCIS?15), 2015. short: 'E. Weishäupl, M. Kunz, E. Yasasin, G. Wagner, J. Prester, G. Schryen, G. Pernul, in: 2nd International Workshop on Security in Highly Connected IT Systems (SHCIS?15), 2015.' date_created: 2018-11-14T11:27:20Z date_updated: 2022-01-06T07:02:04Z ddc: - '000' department: - _id: '277' extern: '1' file: - access_level: open_access content_type: application/pdf creator: hsiemes date_created: 2018-12-07T11:46:28Z date_updated: 2018-12-13T15:09:54Z file_id: '6040' file_name: Towards an Economic Approach to IAMS.PDF file_size: 166015 relation: main_file file_date_updated: 2018-12-13T15:09:54Z has_accepted_license: '1' keyword: - Identity and Access Management - Economic Decision Making - Information Systems - Information Security Investment - Decision Theory language: - iso: eng oa: '1' publication: 2nd International Workshop on Security in highly connected IT Systems (SHCIS?15) status: public title: Towards an Economic Approach to Identity and Access Management Systems Using Decision Theory type: conference user_id: '61579' year: '2015' ... --- _id: '5108' abstract: - lang: eng text: 'This study integrates the government in the context of company valuation. Our framework allows to analyze and to quantify the risk-sharing effects and conflicts of interest between the government and the shareholders when firms follow different financial policies. We provide novel evidence that firms with fixed future levels of debt might invest more than socially desirable. Economically, this happens if the gain in tax-shields is big enough to outweigh the loss in the unlevered firm value. Our findings have implications for the practice of investment subsidy programs provided by the government to avoid fostering investments beyond the socially optimal level. ' article_type: original author: - first_name: Daniel full_name: Kreutzmann, Daniel last_name: Kreutzmann - first_name: Sönke full_name: Sievers, Sönke id: '46447' last_name: Sievers - first_name: Christian full_name: Mueller, Christian last_name: Mueller citation: ama: Kreutzmann D, Sievers S, Mueller C. Investment distortions and the value of the government’s tax claim. Applied Financial Economics (VHB-JOURQUAL 3 Ranking C). 2013;23(11):977-989. doi:10.1080/09603107.2013.786161 apa: Kreutzmann, D., Sievers, S., & Mueller, C. (2013). Investment distortions and the value of the government’s tax claim. Applied Financial Economics (VHB-JOURQUAL 3 Ranking C), 23(11), 977–989. https://doi.org/10.1080/09603107.2013.786161 bibtex: '@article{Kreutzmann_Sievers_Mueller_2013, title={Investment distortions and the value of the government’s tax claim}, volume={23}, DOI={10.1080/09603107.2013.786161}, number={11}, journal={Applied Financial Economics (VHB-JOURQUAL 3 Ranking C)}, publisher={Taylor \& Francis}, author={Kreutzmann, Daniel and Sievers, Sönke and Mueller, Christian}, year={2013}, pages={977–989} }' chicago: 'Kreutzmann, Daniel, Sönke Sievers, and Christian Mueller. “Investment Distortions and the Value of the Government’s Tax Claim.” Applied Financial Economics (VHB-JOURQUAL 3 Ranking C) 23, no. 11 (2013): 977–89. https://doi.org/10.1080/09603107.2013.786161.' ieee: D. Kreutzmann, S. Sievers, and C. Mueller, “Investment distortions and the value of the government’s tax claim,” Applied Financial Economics (VHB-JOURQUAL 3 Ranking C), vol. 23, no. 11, pp. 977–989, 2013. mla: Kreutzmann, Daniel, et al. “Investment Distortions and the Value of the Government’s Tax Claim.” Applied Financial Economics (VHB-JOURQUAL 3 Ranking C), vol. 23, no. 11, Taylor \& Francis, 2013, pp. 977–89, doi:10.1080/09603107.2013.786161. short: D. Kreutzmann, S. Sievers, C. Mueller, Applied Financial Economics (VHB-JOURQUAL 3 Ranking C) 23 (2013) 977–989. date_created: 2018-10-31T07:50:58Z date_updated: 2022-01-06T07:01:38Z department: - _id: '275' doi: 10.1080/09603107.2013.786161 extern: '1' intvolume: ' 23' issue: '11' jel: - G31 - G32 - H21 - H25 keyword: - corporate tax claim - company valuation - optimal investment - cost of capital language: - iso: eng main_file_link: - url: https://www.tandfonline.com/doi/full/10.1080/09603107.2013.786161#.VE5YmBZwmAd page: 977-989 publication: Applied Financial Economics (VHB-JOURQUAL 3 Ranking C) publication_status: published publisher: Taylor \& Francis status: public title: Investment distortions and the value of the government's tax claim type: journal_article user_id: '46447' volume: 23 year: '2013' ... --- _id: '5172' author: - first_name: Sönke full_name: Sievers, Sönke id: '46447' last_name: Sievers citation: ama: 'Sievers S. Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues. Verlag-Haus Monsenstein und Vannerdat; 2013.' apa: 'Sievers, S. (2013). Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues. Verlag-Haus Monsenstein und Vannerdat.' bibtex: '@book{Sievers_2013, title={Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues}, publisher={Verlag-Haus Monsenstein und Vannerdat}, author={Sievers, Sönke}, year={2013} }' chicago: 'Sievers, Sönke. Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues. Verlag-Haus Monsenstein und Vannerdat, 2013.' ieee: 'S. Sievers, Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues. Verlag-Haus Monsenstein und Vannerdat, 2013.' mla: 'Sievers, Sönke. Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues. Verlag-Haus Monsenstein und Vannerdat, 2013.' short: 'S. Sievers, Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues, Verlag-Haus Monsenstein und Vannerdat, 2013.' date_created: 2018-10-31T10:10:35Z date_updated: 2022-01-06T07:01:41Z department: - _id: '275' keyword: - Unternehmensbewertung - Unternehmenswachstum - Return on Investment Unternehmensbewertung - Investition - Steuervergünstigung language: - iso: eng publication_identifier: isbn: - 978-3-86582-925-2 publication_status: published publisher: Verlag-Haus Monsenstein und Vannerdat status: public title: 'Company Valuation and Growth: Theory, Empirical Evidence and Practical Implementation Issues' type: book user_id: '64756' year: '2013' ...