---
_id: '29840'
abstract:
- lang: eng
  text: Due to the proliferation of Virtual Reality (VR) technology, VR is finding
    new applications in various domains, such as stock trading. Here, traders invest
    in stocks intending to increase their profit. For this purpose, in conventional
    stock trading, traders usually make use of 2D applications on desktop or laptop
    devices. This leads to many drawbacks such as poor visibility due to limited 2D
    representation, complex interaction due to indirect interaction via mouse and
    keyboard, or restricted support for collaboration between traders. To overcome
    these issues, we have developed a novel collaborative, virtual environment for
    stock trading, which enables stock traders to view financial information and trade
    stocks with other collaborators. The main results of a usability study indicate
    that the VR environment, compared to conventional stock trading, shows no significant
    advantages concerning efficiency and effectiveness, however, we could observe
    an increased user satisfaction and better collaboration.
author:
- first_name: Enes
  full_name: Yigitbas, Enes
  id: '8447'
  last_name: Yigitbas
  orcid: 0000-0002-5967-833X
- first_name: Sebastian
  full_name: Gottschalk, Sebastian
  id: '47208'
  last_name: Gottschalk
- first_name: Alexander
  full_name: Nowosad, Alexander
  last_name: Nowosad
- first_name: Gregor
  full_name: Engels, Gregor
  id: '107'
  last_name: Engels
citation:
  ama: 'Yigitbas E, Gottschalk S, Nowosad A, Engels G. Development and Evaluation
    of a Collaborative Stock Trading Environment in Virtual Reality. In: <i>Proceedings
    of the 17th International Conference on Wirtschaftsinformatik</i>. AIS; 2022.'
  apa: Yigitbas, E., Gottschalk, S., Nowosad, A., &#38; Engels, G. (2022). Development
    and Evaluation of a Collaborative Stock Trading Environment in Virtual Reality.
    <i>Proceedings of the 17th International Conference on Wirtschaftsinformatik</i>.
    17th International Conference on Wirtschaftsinformatik, Nuremberg.
  bibtex: '@inproceedings{Yigitbas_Gottschalk_Nowosad_Engels_2022, title={Development
    and Evaluation of a Collaborative Stock Trading Environment in Virtual Reality},
    booktitle={Proceedings of the 17th International Conference on Wirtschaftsinformatik},
    publisher={AIS}, author={Yigitbas, Enes and Gottschalk, Sebastian and Nowosad,
    Alexander and Engels, Gregor}, year={2022} }'
  chicago: Yigitbas, Enes, Sebastian Gottschalk, Alexander Nowosad, and Gregor Engels.
    “Development and Evaluation of a Collaborative Stock Trading Environment in Virtual
    Reality.” In <i>Proceedings of the 17th International Conference on Wirtschaftsinformatik</i>.
    AIS, 2022.
  ieee: E. Yigitbas, S. Gottschalk, A. Nowosad, and G. Engels, “Development and Evaluation
    of a Collaborative Stock Trading Environment in Virtual Reality,” presented at
    the 17th International Conference on Wirtschaftsinformatik, Nuremberg, 2022.
  mla: Yigitbas, Enes, et al. “Development and Evaluation of a Collaborative Stock
    Trading Environment in Virtual Reality.” <i>Proceedings of the 17th International
    Conference on Wirtschaftsinformatik</i>, AIS, 2022.
  short: 'E. Yigitbas, S. Gottschalk, A. Nowosad, G. Engels, in: Proceedings of the
    17th International Conference on Wirtschaftsinformatik, AIS, 2022.'
conference:
  end_date: 2022-02-23
  location: Nuremberg
  name: 17th International Conference on Wirtschaftsinformatik
  start_date: 2022-02-21
date_created: 2022-02-15T07:24:50Z
date_updated: 2022-02-15T07:25:45Z
department:
- _id: '66'
- _id: '534'
keyword:
- virtual reality
- stock trading
- collaboration
- usability
language:
- iso: eng
main_file_link:
- open_access: '1'
  url: https://aisel.aisnet.org/wi2022/hci/hci/17/
oa: '1'
publication: Proceedings of the 17th International Conference on Wirtschaftsinformatik
publisher: AIS
status: public
title: Development and Evaluation of a Collaborative Stock Trading Environment in
  Virtual Reality
type: conference
user_id: '47208'
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. <i>Journal of
    Information System Security</i>. 2020;16(1):3-31.'
  apa: 'Szubartowicz, E., &#38; Schryen, G. (2020). Timing in Information Security:
    An Event Study on the Impact of Information Security Investment Announcements.
    <i>Journal of Information System Security</i>, <i>16</i>(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.”
    <i>Journal of Information System Security</i> 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,” <i>Journal
    of Information System Security</i>, 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.” <i>Journal
    of Information System Security</i>, 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: '5130'
abstract:
- lang: ger
  text: "Unternehmen, die regelmäßig ihr Geschäftsfeldportfolio durch aktives M&A-Geschäft
    in Form von\r\nVerkäufen und Käufen steuern, erzielen deutlich bessere Ein- und
    Zweijahresrenditen für Aktionäre\r\nals alternative M&A-Strategien. Ursächlich
    hierfür ist u.a., dass die bekannten Effekte in Form von\r\nAbschlägen für z.B.
    diversifizierende Transaktionen oder Stock-Deals deutlich geringer ausfallen als\r\nbei
    Vergleichsgruppen wie z.B. One-Time-Deal Unternehmen.\r\nDieser Beitrag analysiert
    die Gründe für den Erfolg von Portfoliomastern, Unternehmen die mehr\r\nals vier
    Deals in fünf Jahren durchführen. Durch ein professionalisiertes M&A-Management
    grenzen\r\nsie sich positiv in ihrer mittel- und langfristigen Renditeentwicklung
    gegenüber Strategic-Shiftern\r\n(zwei bis vier Deals) und One-Timern ab. Ihr Erfolg
    beruht darauf sowohl bei diversifizierenden\r\nals auch Stock-Deals bekannte übliche
    Performanceabschläge zu vermeiden und auch in volatilen\r\nMarkphasen wertschaffende
    Deals umzusetzen."
article_type: original
author:
- first_name: Sönke
  full_name: Sievers, Sönke
  id: '46447'
  last_name: Sievers
- first_name: Oliver
  full_name: Mehring, Oliver
  id: '36373'
  last_name: Mehring
- first_name: Georg
  full_name: Keienburg, Georg
  last_name: Keienburg
- first_name: Jens
  full_name: Kengelbach, Jens
  last_name: Kengelbach
citation:
  ama: Sievers S, Mehring O, Keienburg G, Kengelbach J. Erfolgsfaktoren bei Mergers
    and Acquisitions – Warum schaffen Portfoliomaster mehr Value Added? <i>Corporate
    Finance (VHB-JOURQUAL 4 Ranking C)</i>. 2016;81(9):283-290.
  apa: Sievers, S., Mehring, O., Keienburg, G., &#38; Kengelbach, J. (2016). Erfolgsfaktoren
    bei Mergers and Acquisitions – Warum schaffen Portfoliomaster mehr Value Added?
    <i>Corporate Finance (VHB-JOURQUAL 4 Ranking C)</i>, <i>81</i>(9), 283–290.
  bibtex: '@article{Sievers_Mehring_Keienburg_Kengelbach_2016, title={Erfolgsfaktoren
    bei Mergers and Acquisitions – Warum schaffen Portfoliomaster mehr Value Added?},
    volume={81}, number={9}, journal={Corporate Finance (VHB-JOURQUAL 4 Ranking C)},
    publisher={Corporate Finance}, author={Sievers, Sönke and Mehring, Oliver and
    Keienburg, Georg and Kengelbach, Jens}, year={2016}, pages={283–290} }'
  chicago: 'Sievers, Sönke, Oliver Mehring, Georg Keienburg, and Jens Kengelbach.
    “Erfolgsfaktoren bei Mergers and Acquisitions – Warum schaffen Portfoliomaster
    mehr Value Added?” <i>Corporate Finance (VHB-JOURQUAL 4 Ranking C)</i> 81, no.
    9 (2016): 283–90.'
  ieee: S. Sievers, O. Mehring, G. Keienburg, and J. Kengelbach, “Erfolgsfaktoren
    bei Mergers and Acquisitions – Warum schaffen Portfoliomaster mehr Value Added?,”
    <i>Corporate Finance (VHB-JOURQUAL 4 Ranking C)</i>, vol. 81, no. 9, pp. 283–290,
    2016.
  mla: Sievers, Sönke, et al. “Erfolgsfaktoren bei Mergers and Acquisitions – Warum
    schaffen Portfoliomaster mehr Value Added?” <i>Corporate Finance (VHB-JOURQUAL
    4 Ranking C)</i>, vol. 81, no. 9, Corporate Finance, 2016, pp. 283–90.
  short: S. Sievers, O. Mehring, G. Keienburg, J. Kengelbach, Corporate Finance (VHB-JOURQUAL
    4 Ranking C) 81 (2016) 283–290.
date_created: 2018-10-31T08:36:37Z
date_updated: 2026-04-09T08:01:51Z
department:
- _id: '275'
intvolume: '        81'
issue: '9'
keyword:
- M&A
- Erfolgsfaktoren
- Transaktionsanzahl
- Diversifizierung
- Volatilität
- Cash-Deals
- Stock-Deals
- Portfoliomaster
language:
- iso: ger
main_file_link:
- url: https://research.owlit.de/document/4ac211e6-6e18-3aac-b452-3db2723c84dc
page: 283-290
publication: Corporate Finance (VHB-JOURQUAL 4 Ranking C)
publication_status: published
publisher: Corporate Finance
status: public
title: Erfolgsfaktoren bei Mergers and Acquisitions – Warum schaffen Portfoliomaster
  mehr Value Added?
type: journal_article
user_id: '115848'
volume: 81
year: '2016'
...
---
_id: '5193'
abstract:
- lang: eng
  text: We study the predictive ability of individual analyst target price changes
    for post-event abnormal stock returns within each recommendation category. Although
    prior studies generally demonstrate the investment value of target prices, we
    find that target price changes do not cause abnormal returns within each recommendation
    level. Instead, contradictory analyst signals (e.g., strong buy reiterations with
    large target price decreases) neutralize each other, whereas confirmatory signals
    reinforce each other. Further, our analysis reveals that large target price downgrades
    can be explained by preceding stock price decreases. However, upgrades are not
    preceded by stock price increases, thereby demonstrating asymmetric analyst behavior
    when adjusting target prices to stock prices. Our results suggest that investors
    should treat recommendations with caution when they are issued with large contradictory
    target price changes. Thus, instead of blindly following a recommendation, investors
    might put more weight on the change in the corresponding target price and consider
    transaction costs.
article_type: original
author:
- first_name: Stefan
  full_name: Kanne, Stefan
  last_name: Kanne
- first_name: Jan
  full_name: Klobucnik, Jan
  last_name: Klobucnik
- first_name: Daniel
  full_name: Kreutzmann, Daniel
  last_name: Kreutzmann
- first_name: Sönke
  full_name: Sievers, Sönke
  id: '46447'
  last_name: Sievers
citation:
  ama: Kanne S, Klobucnik J, Kreutzmann D, Sievers S. To buy or not to buy? The value
    of contradictory analyst signals. <i>Financial Markets and Portfolio Management
    (VHB-JOURQUAL 3 Ranking C)</i>. 2012;26(4):405-428. doi:<a href="https://doi.org/10.1007/s11408-012-0196-z">10.1007/s11408-012-0196-z</a>
  apa: Kanne, S., Klobucnik, J., Kreutzmann, D., &#38; Sievers, S. (2012). To buy
    or not to buy? The value of contradictory analyst signals. <i>Financial Markets
    and Portfolio Management (VHB-JOURQUAL 3 Ranking C)</i>, <i>26</i>(4), 405–428.
    <a href="https://doi.org/10.1007/s11408-012-0196-z">https://doi.org/10.1007/s11408-012-0196-z</a>
  bibtex: '@article{Kanne_Klobucnik_Kreutzmann_Sievers_2012, title={To buy or not
    to buy? The value of contradictory analyst signals}, volume={26}, DOI={<a href="https://doi.org/10.1007/s11408-012-0196-z">10.1007/s11408-012-0196-z</a>},
    number={4}, journal={Financial Markets and Portfolio Management (VHB-JOURQUAL
    3 Ranking C)}, publisher={Springer}, author={Kanne, Stefan and Klobucnik, Jan
    and Kreutzmann, Daniel and Sievers, Sönke}, year={2012}, pages={405–428} }'
  chicago: 'Kanne, Stefan, Jan Klobucnik, Daniel Kreutzmann, and Sönke Sievers. “To
    Buy or Not to Buy? The Value of Contradictory Analyst Signals.” <i>Financial Markets
    and Portfolio Management (VHB-JOURQUAL 3 Ranking C)</i> 26, no. 4 (2012): 405–28.
    <a href="https://doi.org/10.1007/s11408-012-0196-z">https://doi.org/10.1007/s11408-012-0196-z</a>.'
  ieee: S. Kanne, J. Klobucnik, D. Kreutzmann, and S. Sievers, “To buy or not to buy?
    The value of contradictory analyst signals,” <i>Financial Markets and Portfolio
    Management (VHB-JOURQUAL 3 Ranking C)</i>, vol. 26, no. 4, pp. 405–428, 2012.
  mla: Kanne, Stefan, et al. “To Buy or Not to Buy? The Value of Contradictory Analyst
    Signals.” <i>Financial Markets and Portfolio Management (VHB-JOURQUAL 3 Ranking
    C)</i>, vol. 26, no. 4, Springer, 2012, pp. 405–28, doi:<a href="https://doi.org/10.1007/s11408-012-0196-z">10.1007/s11408-012-0196-z</a>.
  short: S. Kanne, J. Klobucnik, D. Kreutzmann, S. Sievers, Financial Markets and
    Portfolio Management (VHB-JOURQUAL 3 Ranking C) 26 (2012) 405–428.
date_created: 2018-10-31T11:34:44Z
date_updated: 2022-01-06T07:01:43Z
department:
- _id: '275'
doi: 10.1007/s11408-012-0196-z
extern: '1'
intvolume: '        26'
issue: '4'
jel:
- G11
- G12
- G17
- G24
keyword:
- Analyst recommendation
- Target price
- Stock performance
- Trading strategy
language:
- iso: eng
main_file_link:
- url: https://link.springer.com/article/10.1007/s11408-012-0196-z
page: 405-428
publication: Financial Markets and Portfolio Management (VHB-JOURQUAL 3 Ranking C)
publication_status: published
publisher: Springer
status: public
title: To buy or not to buy? The value of contradictory analyst signals
type: journal_article
user_id: '46447'
volume: 26
year: '2012'
...
---
_id: '9742'
abstract:
- lang: eng
  text: New mechatronic systems, called self-optimizing systems, are able to adapt
    their behavior according to environmental, user and system specific influences.
    Self-optimizing systems are complex and due to their non-deterministic behavior
    comprise hidden risks, which cannot be foreseen in the design phase of the system.
    Therefore, this paper presents modifications of the current condition monitoring
    policy, to be able to cope with this new kind of systems. Beside avoiding critical
    situations evoked by self-optimization, the proposed concept uses self-optimization
    to increase the dependability of the system. In this case, the concept is applied
    to the active guidance module of an innovative rail-bound vehicle.
author:
- first_name: Christoph
  full_name: Sondermann-Wölke, Christoph
  last_name: Sondermann-Wölke
- first_name: Walter
  full_name: Sextro, Walter
  id: '21220'
  last_name: Sextro
citation:
  ama: 'Sondermann-Wölke C, Sextro W. Towards the Integration of Condition Monitoring
    in Self-Optimizing Function Modules. In: <i>Future Computing, Service Computation,
    Cognitive, Adaptive, Content, Patterns, 2009. COMPUTATIONWORLD ’09. Computation
    World:</i> ; 2009:15-20. doi:<a href="https://doi.org/10.1109/ComputationWorld.2009.47">10.1109/ComputationWorld.2009.47</a>'
  apa: Sondermann-Wölke, C., &#38; Sextro, W. (2009). Towards the Integration of Condition
    Monitoring in Self-Optimizing Function Modules. In <i>Future Computing, Service
    Computation, Cognitive, Adaptive, Content, Patterns, 2009. COMPUTATIONWORLD ’09.
    Computation World:</i> (pp. 15–20). <a href="https://doi.org/10.1109/ComputationWorld.2009.47">https://doi.org/10.1109/ComputationWorld.2009.47</a>
  bibtex: '@inproceedings{Sondermann-Wölke_Sextro_2009, title={Towards the Integration
    of Condition Monitoring in Self-Optimizing Function Modules}, DOI={<a href="https://doi.org/10.1109/ComputationWorld.2009.47">10.1109/ComputationWorld.2009.47</a>},
    booktitle={Future Computing, Service Computation, Cognitive, Adaptive, Content,
    Patterns, 2009. COMPUTATIONWORLD ’09. Computation World:}, author={Sondermann-Wölke,
    Christoph and Sextro, Walter}, year={2009}, pages={15–20} }'
  chicago: Sondermann-Wölke, Christoph, and Walter Sextro. “Towards the Integration
    of Condition Monitoring in Self-Optimizing Function Modules.” In <i>Future Computing,
    Service Computation, Cognitive, Adaptive, Content, Patterns, 2009. COMPUTATIONWORLD
    ’09. Computation World:</i>, 15–20, 2009. <a href="https://doi.org/10.1109/ComputationWorld.2009.47">https://doi.org/10.1109/ComputationWorld.2009.47</a>.
  ieee: C. Sondermann-Wölke and W. Sextro, “Towards the Integration of Condition Monitoring
    in Self-Optimizing Function Modules,” in <i>Future Computing, Service Computation,
    Cognitive, Adaptive, Content, Patterns, 2009. COMPUTATIONWORLD ’09. Computation
    World:</i>, 2009, pp. 15–20.
  mla: Sondermann-Wölke, Christoph, and Walter Sextro. “Towards the Integration of
    Condition Monitoring in Self-Optimizing Function Modules.” <i>Future Computing,
    Service Computation, Cognitive, Adaptive, Content, Patterns, 2009. COMPUTATIONWORLD
    ’09. Computation World:</i>, 2009, pp. 15–20, doi:<a href="https://doi.org/10.1109/ComputationWorld.2009.47">10.1109/ComputationWorld.2009.47</a>.
  short: 'C. Sondermann-Wölke, W. Sextro, in: Future Computing, Service Computation,
    Cognitive, Adaptive, Content, Patterns, 2009. COMPUTATIONWORLD ’09. Computation
    World:, 2009, pp. 15–20.'
date_created: 2019-05-13T09:31:52Z
date_updated: 2022-01-06T07:04:19Z
department:
- _id: '151'
doi: 10.1109/ComputationWorld.2009.47
keyword:
- condition monitoring
- mechatronic systems
- rail bound vehicle
- rail guidance module
- self-optimization
- self-optimizing function modules
- condition monitoring
- mechatronics
- railway rolling stock
- self-adjusting systems
language:
- iso: eng
page: 15 -20
publication: 'Future Computing, Service Computation, Cognitive, Adaptive, Content,
  Patterns, 2009. COMPUTATIONWORLD ''09. Computation World:'
status: public
title: Towards the Integration of Condition Monitoring in Self-Optimizing Function
  Modules
type: conference
user_id: '55222'
year: '2009'
...