@inbook{5066, author = {{Sureth-Sloane, Caren}}, booktitle = {{Der Verband der Hochschullehrer für Betriebswirtschaft, Geschichte des VHB und Geschichten zum VHB}}, editor = {{Burr, Wolfgang and Wagenhofer, Alfred}}, publisher = {{Gabler Verlag}}, title = {{{Vorwort. Geschichte des VHB und der BWL: Rückblick und Einblicke}}}, year = {{2012}}, } @misc{5069, author = {{Sureth-Sloane, Caren and zu Knyphausen-Aufseß, Dodo}}, booktitle = {{Frankfurter Allgemeine Zeitung}}, number = {{276}}, pages = {{12}}, title = {{{Welcher BWLer ist ein guter Forscher?}}}, year = {{2012}}, } @article{5116, author = {{Gilroy, Bernard Michael and Kruse, Daniel}}, journal = {{WiSt-Wirtschaftswissenschaftliches Studium}}, number = {{3}}, pages = {{143--150}}, publisher = {{Verlag Franz Vahlen GmbH}}, title = {{{Die Prinzipal-Agent-Theorie als Erklärungsinstrumentarium von Korruption}}}, volume = {{41}}, year = {{2012}}, } @article{5183, author = {{Bodden, Eric and Lam, Patrick and Hendren, Laurie}}, issn = {{0164-0925}}, journal = {{ACM Transactions on Programming Languages and Systems}}, number = {{2}}, pages = {{1--52}}, publisher = {{Association for Computing Machinery (ACM)}}, title = {{{Partially Evaluating Finite-State Runtime Monitors Ahead of Time}}}, doi = {{10.1145/2220365.2220366}}, volume = {{34}}, year = {{2012}}, } @article{5193, abstract = {{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.}}, author = {{Kanne, Stefan and Klobucnik, Jan and Kreutzmann, Daniel and Sievers, Sönke}}, journal = {{Financial Markets and Portfolio Management (VHB-JOURQUAL 3 Ranking C)}}, keywords = {{Analyst recommendation, Target price, Stock performance, Trading strategy}}, number = {{4}}, pages = {{405--428}}, publisher = {{Springer}}, title = {{{To buy or not to buy? The value of contradictory analyst signals}}}, doi = {{10.1007/s11408-012-0196-z}}, volume = {{26}}, year = {{2012}}, } @article{5196, abstract = {{This study shows how venture capital investors can identify potential biases in multi-year management forecasts before an investment decision and derive significantly more accurate failure predictions. By advancing a cross-sectional projection method developed by prior research and using firm-specific information in financial statements and business plans, we derive benchmarks for management revenue forecasts. With these benchmarks, we estimate forecast errors as an a priori measure of biased expectations. Using this measure for our proprietary dataset on venture-backed start-ups in Germany, we find evidence of substantial upward forecast biases. We uncover that firms with large forecast errors fail significantly more often than do less biased entrepreneurs in years following the investment. Overall, our results highlight the implications of excessive optimism and overconfidence in entrepreneurial environments and emphasize the relevance of accounting information and business plans for venture capital investment decisions. }}, author = {{Mokwa, Christopher Frederik and Sievers, Sönke}}, journal = {{SSRN Electronic Journal}}, keywords = {{Management forecast biases, cross-sectional projection models, venture-backed start-ups, failure prediction, overoptimism, overconfidence}}, title = {{{The Relevance of Biases in Management Forecasts for Failure Prediction in Venture Capital Investments}}}, doi = {{10.2139/ssrn.2100501}}, year = {{2012}}, } @article{5198, abstract = {{This study provides evidence of significant biases in multi-year management forecasts by analyzing a proprietary dataset on venture-backed start-ups in Germany. We find that revenues and expenses are highly overestimated in each of the investigated one- to five-year-ahead planning periods. Furthermore, entrepreneurs underestimate one-year-ahead profit forecasts but clearly overestimate their profit forecasts for all longer-term forecast horizons. Additional analyses reveal that teams with prior management experience issue even more overestimated forecasts and misrepresent their forward-looking information. In contrast, greater asset verifiability and corporate lead investors are associated with lower levels of forecast errors. All key results hold if bias is either measured by traditionally comparing forecasts to ex-post realizations or by using a cross-sectional projection approach based on historical accounting data developed by prior research. }}, author = {{Mokwa, Christopher and Sievers, Sönke}}, journal = {{SSRN Electronic Journal}}, keywords = {{Management forecasts, Forecasting biases, Venture-backed start-ups, Projection methods}}, title = {{{Biases in Management Forecasts of Venture-Backed Start-Ups: Evidence from Internal Due Diligence Documents of VC Investors}}}, doi = {{10.2139/ssrn.1714399}}, year = {{2012}}, } @inbook{5242, author = {{Schmitz, Hendrik and Eibich, P. and Ziebarth, N.R.}}, booktitle = {{DIW Economic Bulletin}}, pages = {{15--24}}, publisher = {{German Institute for Economic Research}}, title = {{{Add-On Premiums Increase Price Transparency: More Policy Holders Switch Health Plans}}}, volume = {{2}}, year = {{2012}}, } @article{5243, author = {{Schmitz, Hendrik and Augurzky, B. and Beivers, A.}}, journal = {{Krankenhaus-Report 2012}}, publisher = {{Schattauer}}, title = {{{Regionale Unterschiede in der stationären Versorgung: Das ländliche Krankenhaus im Fokus}}}, year = {{2012}}, } @article{5494, author = {{Baum, M and Gsell, L and Kabst, Rüdiger}}, journal = {{Die Betriebswirtschaft (ZfB).}}, number = {{3}}, pages = {{235--253}}, title = {{{Determinanten des Employer Branding in deutschen Unternehmen: Ein neoinstitutionalistischer Erklärungsansatz.}}}, volume = {{72}}, year = {{2012}}, }