[{"_id":"29317","language":[{"iso":"eng"}],"doi":"10.21314/JOR.2022.044","user_id":"36049","status":"public","year":"2022","title":"Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall","author":[{"id":"23991","first_name":"Sebastian","last_name":"Letmathe","full_name":"Letmathe, Sebastian"},{"full_name":"Feng, Yuanhua","first_name":"Yuanhua","last_name":"Feng","id":"20760"},{"orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","full_name":"Uhde, André","id":"36049"}],"jel":["C14","C51","C52","G17","G32"],"date_updated":"2024-04-17T13:34:54Z","publication_status":"inpress","date_created":"2022-01-13T11:23:02Z","keyword":["Semiparametric","long memory","GARCH models","forecasting","Value at Risk","Expected Shortfall","traffic light test","Basel Committee on Banking Supervision"],"type":"journal_article","department":[{"_id":"186"},{"_id":"19"}],"publication":"Journal of Risk","citation":{"ama":"Letmathe S, Feng Y, Uhde A. Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall. <i>Journal of Risk</i>. doi:<a href=\"https://doi.org/10.21314/JOR.2022.044\">10.21314/JOR.2022.044</a>","bibtex":"@article{Letmathe_Feng_Uhde, title={Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall}, DOI={<a href=\"https://doi.org/10.21314/JOR.2022.044\">10.21314/JOR.2022.044</a>}, journal={Journal of Risk}, author={Letmathe, Sebastian and Feng, Yuanhua and Uhde, André} }","mla":"Letmathe, Sebastian, et al. “Semiparametric GARCH Models with Long Memory Applied to Value at Risk and Expected Shortfall.” <i>Journal of Risk</i>, doi:<a href=\"https://doi.org/10.21314/JOR.2022.044\">10.21314/JOR.2022.044</a>.","chicago":"Letmathe, Sebastian, Yuanhua Feng, and André Uhde. “Semiparametric GARCH Models with Long Memory Applied to Value at Risk and Expected Shortfall.” <i>Journal of Risk</i>, n.d. <a href=\"https://doi.org/10.21314/JOR.2022.044\">https://doi.org/10.21314/JOR.2022.044</a>.","short":"S. Letmathe, Y. Feng, A. Uhde, Journal of Risk (n.d.).","apa":"Letmathe, S., Feng, Y., &#38; Uhde, A. (n.d.). Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall. <i>Journal of Risk</i>. <a href=\"https://doi.org/10.21314/JOR.2022.044\">https://doi.org/10.21314/JOR.2022.044</a>","ieee":"S. Letmathe, Y. Feng, and A. Uhde, “Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall,” <i>Journal of Risk</i>, doi: <a href=\"https://doi.org/10.21314/JOR.2022.044\">10.21314/JOR.2022.044</a>."},"abstract":[{"text":"In this paper new semiparametric GARCH models with long memory are in- troduced. The estimation of the nonparametric scale function is carried out by an adapted version of the SEMIFAR algorithm (Beran et al., 2002). Recurring on the revised recommendations by the Basel Committee to measure market risk in the banks' trading books (Basel Committee on Banking Supervision, 2013), the semi- parametric GARCH models are applied to obtain rolling one-step ahead forecasts for the Value at Risk (VaR) and Expected Shortfall (ES) for market risk assets. In addition, standard regulatory traffic light tests (Basel Committee on Banking Supervision, 1996) and a newly introduced traffic light test for the ES are carried out for all models. The practical relevance of our proposal is demonstrated by a comparative study. Our results indicate that semiparametric long memory GARCH models are an attractive alternative to their conventional, parametric counterparts.","lang":"eng"}]},{"author":[{"full_name":"Uhde, André","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","id":"36049"}],"jel":["G21","G28","H25","H71"],"status":"public","year":"2021","title":"Tax avoidance through securitization","intvolume":"        79","date_updated":"2022-01-06T07:01:40Z","_id":"5163","language":[{"iso":"eng"}],"page":"411-421","volume":79,"doi":"10.1016/j.qref.2020.07.008","user_id":"81176","citation":{"chicago":"Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review of Economics and Finance</i> 79 (2021): 411–21. <a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">https://doi.org/10.1016/j.qref.2020.07.008</a>.","short":"A. Uhde, The Quarterly Review of Economics and Finance 79 (2021) 411–421.","apa":"Uhde, A. (2021). Tax avoidance through securitization. <i>The Quarterly Review of Economics and Finance</i>, <i>79</i>, 411–421. <a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">https://doi.org/10.1016/j.qref.2020.07.008</a>","ieee":"A. Uhde, “Tax avoidance through securitization,” <i>The Quarterly Review of Economics and Finance</i>, vol. 79, pp. 411–421, 2021.","ama":"Uhde A. Tax avoidance through securitization. <i>The Quarterly Review of Economics and Finance</i>. 2021;79:411-421. doi:<a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>","bibtex":"@article{Uhde_2021, title={Tax avoidance through securitization}, volume={79}, DOI={<a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>}, journal={The Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2021}, pages={411–421} }","mla":"Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review of Economics and Finance</i>, vol. 79, 2021, pp. 411–21, doi:<a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>."},"publication":"The Quarterly Review of Economics and Finance","abstract":[{"lang":"eng","text":"Employing a unique hand-collected sample of 956 credit risk securitization transactions issued by 64 stock-listed\r\nEuropean banks across the EU-13 plus Switzerland over the period from 1997 to 2010, this paper empirically analyzes\r\nthe impact of securitization on the issuing banks’ effective tax rates. Our analysis reveals that banks may reduce their\r\ntax expense through securitization via a direct and indirect channel suggesting that tax avoidance may be a further\r\nmotive for banks to engage in the securitization business. These baseline findings remain robust under various\r\nrobustness checks, especially when implementing structural equation models and controlling for a reverse causality\r\nbetween the banks’ tax burden and their incentive to securitize. Finally, various sensitivity analyses provide further\r\nimportant results and implications for tax policies, banking regulation and the ongoing process of revitalizing the\r\nEuropean securitization market."}],"date_created":"2018-10-31T09:55:40Z","department":[{"_id":"186"},{"_id":"188"}],"keyword":["Securitization","Credit risk transfer","Effective tax rates","European banking"],"type":"journal_article"},{"title":"CDS Investors’ Risk Perceptions of M&A Announcements","status":"public","year":"2021","jel":["G14","G34"],"author":[{"first_name":"Benjamin","last_name":"Hippert","full_name":"Hippert, Benjamin"},{"full_name":"Uhde, André","last_name":"Uhde","first_name":"André","id":"36049"}],"publication_status":"unpublished","date_updated":"2023-11-17T10:23:54Z","language":[{"iso":"eng"}],"_id":"36060","user_id":"36049","citation":{"ieee":"B. Hippert and A. Uhde, <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>. .","apa":"Hippert, B., &#38; Uhde, A. (n.d.). <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>.","chicago":"Hippert, Benjamin, and André Uhde. <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>, n.d.","short":"B. Hippert, A. Uhde, CDS Investors’ Risk Perceptions of M&#38;A Announcements, n.d.","mla":"Hippert, Benjamin, and André Uhde. <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>.","bibtex":"@book{Hippert_Uhde, title={CDS Investors’ Risk Perceptions of M&#38;A Announcements}, author={Hippert, Benjamin and Uhde, André} }","ama":"Hippert B, Uhde A. <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>."},"abstract":[{"lang":"eng","text":"Merging a sample of 492 merger and acquisition (M&A) announcements from 284 acquiring firms across Europe and North America with data from 5-year single-name credit default swaps (CDSs) written on stock-listed acquiring firms between 2005 and 2018, the paper at hand empirically analyzes the CDS investors’ risk perceptions of M&A announcements using event study methodologies. As a baseline result, we provide evidence for significantly positive cumulative average abnormal CDS spread changes for both, European and North American acquirers suggesting that CDS investors perceive an increase in the acquiring firms’ credit risk exposures due to M&A announcements. Our baseline finding holds under several robustness checks, especially when controlling for the robustness of the empirical design. Moreover, results from a large variety of sensitivity analyses reveal a number of deal and firm characteristics that may explain why CDS investors from our sample expect an increase in the acquirers’ credit risk exposures due to forthcoming M&A transactions. "}],"date_created":"2023-01-11T11:31:54Z","keyword":["credit default swaps","risk perception of CDS investors","mergers and acquisitions","event study"],"type":"working_paper","department":[{"_id":"186"},{"_id":"188"}]},{"_id":"36063","language":[{"iso":"eng"}],"user_id":"36049","status":"public","title":"Determinants of CDS Trading on Major Banks","year":"2021","jel":["G10","G12","G21"],"author":[{"first_name":"Benjamin","last_name":"Hippert","full_name":"Hippert, Benjamin"},{"full_name":"Uhde, André","first_name":"André","last_name":"Uhde","id":"36049"},{"first_name":"Sascha Tobias","last_name":"Wengerek","full_name":"Wengerek, Sascha Tobias"}],"date_updated":"2023-11-17T10:23:44Z","publication_status":"unpublished","date_created":"2023-01-11T11:34:17Z","keyword":["banking","outstanding CDS net notional","determinants of bank CDS trading"],"type":"working_paper","department":[{"_id":"186"},{"_id":"188"}],"citation":{"bibtex":"@book{Hippert_Uhde_Wengerek, title={Determinants of CDS Trading on Major Banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias} }","ama":"Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>.","mla":"Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>.","short":"B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major Banks, n.d.","chicago":"Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants of CDS Trading on Major Banks</i>, n.d.","ieee":"B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS Trading on Major Banks</i>. .","apa":"Hippert, B., Uhde, A., &#38; Wengerek, S. T. (n.d.). <i>Determinants of CDS Trading on Major Banks</i>."},"abstract":[{"text":"This paper empirically investigates determinants of the outstanding net notional amount\r\nof credit default swaps (CDSs) contracts written on banks. We extend and complement the\r\nprevious literature dealing with CDS trading by analyzing a comprehensive set of CDS tradingspecific,\r\nbank-fundamental, macroeconomic and bank-institutional determinants. We find that\r\nrisk hedging clearly dominates an investor’s speculation and arbitrage motive, while the latter,\r\nhowever, exhibits the strongest impact on the outstanding net notional amount of bank CDSs.\r\nFurthermore, being classified as a G-SIB, being a constituent of the main CDS index and the\r\nequity trading volume may significantly explain changes in the outstanding CDS net notional on\r\nbanks. The analysis at hand provides important implications for both academics and practitioners,\r\nsince understanding the trading motives of bank CDS investors provides a deeper insight into the\r\nopaque CDS market. ","lang":"eng"}]},{"date_updated":"2024-04-17T13:35:20Z","status":"public","title":"Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict","year":"2021","jel":["F14","F18","F23","F51"],"author":[{"full_name":"Wengerek, Sascha Tobias","first_name":"Sascha Tobias","last_name":"Wengerek"},{"id":"36049","full_name":"Uhde, André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André"}],"user_id":"21810","language":[{"iso":"eng"}],"_id":"29313","abstract":[{"text":"Employing a unique sample of 2,849 tariff imposition announcements by and against the United States (U.S.) over the period from 2018 to 2019, this study analyzes the impact of recent tariff announcements on share prices from 859 U.S. companies. We provide evidence for negative (cumulative) average abnormal stock returns due to tariff announcements during a symmetric three-day event window. We suggest that stock market investors expect adverse impacts of tariff impositions, e.g. a decrease in the companies’ future cash flows and a threat of retaliation. The negative wealth effects are observed irrespective of whether the Trump administration announces safeguard tariffs to protect domestic firms or a retaliation is declared by foreign countries. Moreover, building several subsamples, we find that the adverse impact is mostly driven by announcements involving China and is associated with a variety of sector, tariff, trade and firm characteristics. ","lang":"eng"}],"citation":{"bibtex":"@book{Wengerek_Uhde_2021, title={Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict}, author={Wengerek, Sascha Tobias and Uhde, André}, year={2021} }","ama":"Wengerek ST, Uhde A. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>.; 2021.","mla":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>. 2021.","chicago":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>, 2021.","short":"S.T. Wengerek, A. Uhde, Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict, 2021.","ieee":"S. T. Wengerek and A. Uhde, <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>. 2021.","apa":"Wengerek, S. T., &#38; Uhde, A. (2021). <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict</i>."},"type":"working_paper","keyword":["event study","international relations","protectionism","strategic trade policy","tariffs","trade conflict"],"department":[{"_id":"186"},{"_id":"19"}],"date_created":"2022-01-13T11:06:25Z"},{"author":[{"first_name":"Benjamin","last_name":"Hippert","full_name":"Hippert, Benjamin"},{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","full_name":"Uhde, André"}],"title":"CDS investors’ risk perceptions of M&A announcements","status":"public","year":"2021","date_updated":"2024-04-17T13:35:29Z","language":[{"iso":"eng"}],"_id":"29315","user_id":"21810","citation":{"mla":"Hippert, Benjamin, and André Uhde. <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>. 2021.","ama":"Hippert B, Uhde A. <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>.; 2021.","bibtex":"@book{Hippert_Uhde_2021, title={CDS investors’ risk perceptions of M&#38;A announcements}, author={Hippert, Benjamin and Uhde, André}, year={2021} }","apa":"Hippert, B., &#38; Uhde, A. (2021). <i>CDS investors’ risk perceptions of M&#38;A announcements</i>.","ieee":"B. Hippert and A. Uhde, <i>CDS investors’ risk perceptions of M&#38;A announcements</i>. 2021.","short":"B. Hippert, A. Uhde, CDS Investors’ Risk Perceptions of M&#38;A Announcements, 2021.","chicago":"Hippert, Benjamin, and André Uhde. <i>CDS Investors’ Risk Perceptions of M&#38;A Announcements</i>, 2021."},"abstract":[{"lang":"eng","text":"We merge a sample of 492 merger and acquisition (M&A) announcements from 284 acquiring firms across North America and Europe with data from 5-year single-name credit default swaps (CDSs) that are written on stock-listed acquiring firms between 2005 and 2018. Subsequently, we empirically analyze the CDS investors’ risk perception of M&A announcements using event study methodologies. As a baseline finding, we provide evidence for significantly positive cumulative average abnormal CDS spread changes suggesting that CDS investors perceive an increase in the acquiring firms’ credit risk exposures due to M&A announcements. Our baseline finding holds under several robustness checks, especially when controlling for the robustness of the empirical design as well as regional and sectoral differences. Moreover, results from a large variety of sensitivity analyses including deal and firm characteristics provide a deeper insight into the driving factors of CDS investors’ risk perceptions of M&A announcements."}],"date_created":"2022-01-13T11:15:12Z","department":[{"_id":"186"},{"_id":"19"}],"type":"working_paper"},{"title":"Risk allocation through securitization - Evidence from non-performing loans","status":"public","year":"2021","jel":["G21","G28","G32"],"author":[{"last_name":"Hippert","first_name":"Benjamin","full_name":"Hippert, Benjamin"},{"full_name":"Uhde, André","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","id":"36049"},{"full_name":"Wengerek, Sascha Tobias","last_name":"Wengerek","first_name":"Sascha Tobias"}],"date_updated":"2024-04-17T13:36:05Z","_id":"29316","language":[{"iso":"eng"}],"user_id":"36049","citation":{"ieee":"B. Hippert, A. Uhde, and S. T. Wengerek, <i>Risk allocation through securitization - Evidence from non-performing loans</i>. 2021.","apa":"Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2021). <i>Risk allocation through securitization - Evidence from non-performing loans</i>.","chicago":"Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Risk Allocation through Securitization - Evidence from Non-Performing Loans</i>, 2021.","short":"B. Hippert, A. Uhde, S.T. Wengerek, Risk Allocation through Securitization - Evidence from Non-Performing Loans, 2021.","mla":"Hippert, Benjamin, et al. <i>Risk Allocation through Securitization - Evidence from Non-Performing Loans</i>. 2021.","bibtex":"@book{Hippert_Uhde_Wengerek_2021, title={Risk allocation through securitization - Evidence from non-performing loans}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}, year={2021} }","ama":"Hippert B, Uhde A, Wengerek ST. <i>Risk Allocation through Securitization - Evidence from Non-Performing Loans</i>.; 2021."},"abstract":[{"text":"Employing a unique and hand-collected dataset of securitization transactions by European banks, this paper analyzes the relationship between true sale loan securitization and the issuing banks’ non-performing loans to total assets ratios (NPLRs). We provide evidence for an NPLR-reducing effect during the boom phase of securitizations suggesting that banks (partly) securitized NPLs as the most risky junior tranche. In contrast, we find the reverse effect during the crises period indicating that issuing banks demonstrated `skin in the game'. A variety of sensitivity analyses provides further important implications for the vital debate on reducing NPL exposures and regulating securitization markets.","lang":"eng"}],"date_created":"2022-01-13T11:19:28Z","type":"working_paper","keyword":["European Banking","Non-performing Loans","Risk Allocation","Securitization"],"department":[{"_id":"186"}]},{"date_updated":"2022-12-23T10:41:04Z","year":"2020","title":"Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?","status":"public","author":[{"last_name":"Mehring","first_name":"Oliver","full_name":"Mehring, Oliver"},{"full_name":"Olsson, Per","first_name":"Per","last_name":"Olsson"},{"full_name":"Sievers, Soenke","last_name":"Sievers","first_name":"Soenke"},{"last_name":"Sofilkanitsch ","first_name":"Christian","full_name":"Sofilkanitsch , Christian"},{"id":"36049","full_name":"Uhde, André","last_name":"Uhde","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857"},{"full_name":"Eber, Michael","last_name":"Eber","first_name":"Michael"}],"user_id":"26589","_id":"34593","publisher":"TRR","language":[{"iso":"eng"}],"citation":{"mla":"Mehring, Oliver, et al. <i>Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter?</i> TRR, 2020.","ama":"Mehring O, Olsson P, Sievers S, Sofilkanitsch  C, Uhde A, Eber M. <i>Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter?</i> TRR; 2020.","bibtex":"@book{Mehring_Olsson_Sievers_Sofilkanitsch _Uhde_Eber_2020, title={Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?}, publisher={TRR}, author={Mehring, Oliver and Olsson, Per and Sievers, Soenke and Sofilkanitsch , Christian and Uhde, André and Eber, Michael}, year={2020} }","apa":"Mehring, O., Olsson, P., Sievers, S., Sofilkanitsch , C., Uhde, A., &#38; Eber, M. (2020). <i>Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?</i> TRR.","ieee":"O. Mehring, P. Olsson, S. Sievers, C. Sofilkanitsch , A. Uhde, and M. Eber, <i>Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?</i> TRR, 2020.","short":"O. Mehring, P. Olsson, S. Sievers, C. Sofilkanitsch , A. Uhde, M. Eber, Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter?, TRR, 2020.","chicago":"Mehring, Oliver, Per Olsson, Soenke Sievers, Christian Sofilkanitsch , André Uhde, and Michael Eber. <i>Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter?</i> TRR, 2020."},"type":"working_paper","date_created":"2022-12-20T11:53:58Z"},{"citation":{"mla":"Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review of Economics and Finance</i>, 2020, doi:<a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>.","bibtex":"@article{Uhde_2020, title={Tax avoidance through securitization}, DOI={<a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>}, journal={The Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2020} }","ama":"Uhde A. Tax avoidance through securitization. <i>The Quarterly Review of Economics and Finance</i>. Published online 2020. doi:<a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>","ieee":"A. Uhde, “Tax avoidance through securitization,” <i>The Quarterly Review of Economics and Finance</i>, 2020, doi: <a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">10.1016/j.qref.2020.07.008</a>.","apa":"Uhde, A. (2020). Tax avoidance through securitization. <i>The Quarterly Review of Economics and Finance</i>. <a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">https://doi.org/10.1016/j.qref.2020.07.008</a>","chicago":"Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review of Economics and Finance</i>, 2020. <a href=\"https://doi.org/10.1016/j.qref.2020.07.008\">https://doi.org/10.1016/j.qref.2020.07.008</a>.","short":"A. Uhde, The Quarterly Review of Economics and Finance (2020)."},"publication":"The Quarterly Review of Economics and Finance","abstract":[{"text":"Employing a unique hand-collected sample of 956 credit risk securitization transactions issued by 64 stock-listed European banks across the EU-13 plus Switzerland over the period from 1997 to 2010, this paper empirically analyzes the impact of securitization on the issuing banks’ effective tax rates. Our analysis reveals that banks may reduce their tax expense through securitization via a direct and indirect channel suggesting that tax avoidance may be a further motive for banks to engage in the securitization business. These baseline findings remain robust under various robustness checks, especially when implementing structural equation models and controlling for a reverse causality between the banks’ tax burden and their incentive to securitize. Finally, various sensitivity analyses provide further important results and implications for tax policies, banking regulation and the ongoing process of revitalizing the European securitization market.","lang":"eng"}],"date_created":"2020-08-01T07:20:33Z","department":[{"_id":"19"}],"type":"journal_article","keyword":["Securitization","Credit risk transfer","Effective tax rates","European banking"],"publication_identifier":{"issn":["1062-9769"]},"jel":["G21","G28","H25","H71"],"author":[{"last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","full_name":"Uhde, André","id":"36049"}],"title":"Tax avoidance through securitization","year":"2020","status":"public","article_type":"original","date_updated":"2024-04-17T13:35:56Z","language":[{"iso":"eng"}],"_id":"17522","user_id":"36049","doi":"10.1016/j.qref.2020.07.008"},{"jel":["G21","G28","H25","H71"],"author":[{"full_name":"Uhde, André","last_name":"Uhde","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","id":"36049"}],"title":"Tax avoidance through securitization","status":"public","year":"2020","date_updated":"2024-04-17T13:36:03Z","language":[{"iso":"eng"}],"_id":"17401","user_id":"36049","citation":{"mla":"Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review of Economics and Finance</i>, 2020.","ama":"Uhde A. Tax avoidance through securitization. <i>The Quarterly Review of Economics and Finance</i>. Published online 2020.","bibtex":"@article{Uhde_2020, title={Tax avoidance through securitization}, journal={The Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2020} }","apa":"Uhde, A. (2020). Tax avoidance through securitization. <i>The Quarterly Review of Economics and Finance</i>.","ieee":"A. Uhde, “Tax avoidance through securitization,” <i>The Quarterly Review of Economics and Finance</i>, 2020.","chicago":"Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review of Economics and Finance</i>, 2020.","short":"A. Uhde, The Quarterly Review of Economics and Finance (2020)."},"publication":"The Quarterly Review of Economics and Finance","abstract":[{"lang":"eng","text":"Employing a unique hand-collected sample of 956 credit risk securitization transactions issued by 64 stock-listed European banks across the EU-13 plus Switzerland over the period from 1997 to 2010, this paper empirically analyzes the impact of securitization on the issuing banks’ effective tax rates. Our analysis reveals that banks may reduce their tax expense through securitization via a direct and indirect channel suggesting that tax avoidance may be a further motive for banks to engage in the securitization business. These baseline findings remain robust under various robustness checks, especially when implementing structural equation models and controlling for a reverse causality between the banks’ tax burden and their incentive to securitize. Finally, various sensitivity analyses provide further important results and implications for tax policies, banking regulation and the ongoing process of revitalizing the European securitization market."}],"date_created":"2020-07-20T06:29:36Z","department":[{"_id":"19"}],"type":"journal_article","keyword":["Securitization","credit risk transfer","effective tax rates","European banking"]},{"status":"public","jel":["C61","G01","G11","G15","G23"],"page":"203-259","_id":"4562","user_id":"36049","volume":22,"citation":{"mla":"Hippert, Benjamin, et al. “Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe.” <i>Review of Derivatives Research </i>, vol. 22, no. 2, 2019, pp. 203–59, doi:<a href=\"https://doi.org/10.1007/s11147-018-9148-8\">https://doi.org/10.1007/s11147-018-9148-8</a>.","ama":"Hippert B, Uhde A, Wengerek ST. Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe. <i>Review of Derivatives Research </i>. 2019;22(2):203-259. doi:<a href=\"https://doi.org/10.1007/s11147-018-9148-8\">https://doi.org/10.1007/s11147-018-9148-8</a>","bibtex":"@article{Hippert_Uhde_Wengerek_2019, title={Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe}, volume={22}, DOI={<a href=\"https://doi.org/10.1007/s11147-018-9148-8\">https://doi.org/10.1007/s11147-018-9148-8</a>}, number={2}, journal={Review of Derivatives Research }, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}, year={2019}, pages={203–259} }","apa":"Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2019). Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe. <i>Review of Derivatives Research </i>, <i>22</i>(2), 203–259. <a href=\"https://doi.org/10.1007/s11147-018-9148-8\">https://doi.org/10.1007/s11147-018-9148-8</a>","ieee":"B. Hippert, A. Uhde, and S. T. Wengerek, “Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe,” <i>Review of Derivatives Research </i>, vol. 22, no. 2, pp. 203–259, 2019, doi: <a href=\"https://doi.org/10.1007/s11147-018-9148-8\">https://doi.org/10.1007/s11147-018-9148-8</a>.","chicago":"Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. “Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe.” <i>Review of Derivatives Research </i> 22, no. 2 (2019): 203–59. <a href=\"https://doi.org/10.1007/s11147-018-9148-8\">https://doi.org/10.1007/s11147-018-9148-8</a>.","short":"B. Hippert, A. Uhde, S.T. Wengerek, Review of Derivatives Research  22 (2019) 203–259."},"title":"Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe","year":"2019","author":[{"full_name":"Hippert, Benjamin","last_name":"Hippert","first_name":"Benjamin","id":"48476"},{"orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","full_name":"Uhde, André","id":"36049"},{"last_name":"Wengerek","orcid":"0000-0002-7820-3903","first_name":"Sascha Tobias","full_name":"Wengerek, Sascha Tobias","id":"48837"}],"publication_status":"published","date_updated":"2022-05-04T06:15:02Z","article_type":"original","intvolume":"        22","language":[{"iso":"eng"}],"doi":"https://doi.org/10.1007/s11147-018-9148-8","issue":"2","publication":"Review of Derivatives Research ","abstract":[{"text":"Employing main and sector-specific investment-grade CDS indices from the North American and European CDS market and performing mean-variance out-of-sample analyses for conservative and aggressive investors over the period from 2006 to 2014, this paper analyzes portfolio benefits of adding corporate CDS indices to a traditional financial portfolio consisting of stock and sovereign bond indices. As a baseline result, we initially find an increase in portfolio (downside) risk-diversification when adding CDS indices, which is observed irrespective of both CDS markets, investor-types and different sub-periods, including the global financial crisis and European sovereign debt crisis. In addition, the analysis reveals higher portfolio excess returns and performance in CDS index portfolios, however, these effects clearly differ between markets, investor-types and sub-periods. Overall, portfolio benefits of adding CDS indices mainly result from the fact that institutional investors replace sovereign bond indices rather than stock indices by CDS indices due to better risk-return characteristics. Our baseline findings remain robust under a variety of robustness checks. Results from sensitivity analyses provide further important implications for institutional investors with a strategic focus on a long-term conservative portfolio management.","lang":"eng"}],"date_created":"2018-10-01T12:17:35Z","keyword":["Corporate credit default swap indices","Mean-variance asset allocation","Out-of-sample portfolio optimization","Portfolio risk-diversification","Portfolio performance evaluation"],"type":"journal_article","department":[{"_id":"188"},{"_id":"186"}]},{"date_created":"2023-01-11T10:57:04Z","department":[{"_id":"186"},{"_id":"188"}],"keyword":["event study","international relations","protectionism","strategic trade policy","tariffs","trade conflict"],"type":"working_paper","citation":{"apa":"Wengerek, S. T., &#38; Uhde, A. (2019). <i>Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict</i>. Paderborn University.","ieee":"S. T. Wengerek and A. Uhde, <i>Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict</i>. Paderborn University, 2019.","short":"S.T. Wengerek, A. Uhde, Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict, Paderborn University, 2019.","chicago":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict</i>. Paderborn University, 2019.","mla":"Wengerek, Sascha Tobias, and André Uhde. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict</i>. Paderborn University, 2019.","ama":"Wengerek ST, Uhde A. <i>Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict</i>. Paderborn University; 2019.","bibtex":"@book{Wengerek_Uhde_2019, title={Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict}, publisher={Paderborn University}, author={Wengerek, Sascha Tobias and Uhde, André}, year={2019} }"},"abstract":[{"lang":"eng","text":"Employing a unique sample of 2,849 tariff imposition announcements by and against the United States (U.S.) over the period from 2018 to 2019, this study analyzes the impact of recent tariff announcements on share prices from 859 U.S. companies. We provide evidence for negative (cumulative) average abnormal stock returns due to tariff announcements during a symmetric three-day event window. We suggest that stock market investors expect adverse impacts of tariff impositions, e.g. a decrease in the companies' future cash flows and a threat of retaliation. The negative wealth effects are observed irrespective of whether the Trump administration announces safeguard tariffs to protect domestic firms or a retaliation is declared by foreign countries. Moreover, building several subsamples, we find that the adverse impact is mostly driven by announcements involving China and is associated with a variety of sector, tariff, trade and firm characteristics. "}],"_id":"36004","language":[{"iso":"eng"}],"publisher":"Paderborn University","user_id":"21810","author":[{"first_name":"Sascha Tobias","last_name":"Wengerek","full_name":"Wengerek, Sascha Tobias"},{"full_name":"Uhde, André","last_name":"Uhde","first_name":"André","id":"36049"}],"jel":["F14","F18","F23","F51"],"year":"2019","title":"Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict","status":"public","publication_status":"published","date_updated":"2023-01-11T11:05:30Z"},{"date_created":"2022-01-13T11:12:03Z","department":[{"_id":"186"},{"_id":"19"}],"type":"working_paper","keyword":["banking","outstanding CDS net notional","determinants of bank CDS trading"],"citation":{"bibtex":"@book{Hippert_Uhde_Wengerek_2019, title={Determinants of CDS trading on major banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}, year={2019} }","ama":"Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>.; 2019.","mla":"Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>. 2019.","short":"B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major Banks, 2019.","chicago":"Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants of CDS Trading on Major Banks</i>, 2019.","ieee":"B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS trading on major banks</i>. 2019.","apa":"Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2019). <i>Determinants of CDS trading on major banks</i>."},"abstract":[{"text":"Employing credit default swap (CDS) data for a sample of 52 major banks across 18 countries from 2008 to 2016, this paper investigates determinants of the outstanding net notional amount of CDS which are written on banks. We extend the current literature dealing with CDS trading by analyzing further CDS trading-specific, fundamental bank-specific as well as macroeconomic and institutional determinants with a focus on bank CDS trading. We find that, next to well-discussed determinants for corporate firms in the literature, especially a bank's tail risk, capital adequacy, loan portfolio and business model affect a bank's outstanding CDS net notional. This finding indicates that investors in the bank CDS market partly have a recourse to a fundamental analysis for their investment decision. Our study fills an important gap since empirical studies have solely focused on sovereign and corporate CDS yet. In addition, the analysis at hand provides important implications for both academics and practitioners since understanding the trading motives of bank CDS investors gives deeper insights into the still opaque CDS market.","lang":"eng"}],"_id":"29314","language":[{"iso":"eng"}],"user_id":"21810","author":[{"full_name":"Hippert, Benjamin","first_name":"Benjamin","last_name":"Hippert"},{"last_name":"Uhde","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André","id":"36049"},{"full_name":"Wengerek, Sascha Tobias","first_name":"Sascha Tobias","last_name":"Wengerek"}],"jel":["G10","G12","G21"],"year":"2019","status":"public","title":"Determinants of CDS trading on major banks","date_updated":"2024-04-17T13:35:25Z"},{"citation":{"mla":"Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>. 2019.","bibtex":"@book{Hippert_Uhde_Wengerek_2019, place={Working Papers Dissertations from Paderborn University, Faculty of Business Administration and Economics}, series={No 51}, title={Determinants of CDS trading on major banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}, year={2019}, collection={No 51} }","ama":"Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>.; 2019.","ieee":"B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS trading on major banks</i>. Working Papers Dissertations from Paderborn University, Faculty of Business Administration and Economics, 2019.","apa":"Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2019). <i>Determinants of CDS trading on major banks</i>.","chicago":"Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants of CDS Trading on Major Banks</i>. No 51. Working Papers Dissertations from Paderborn University, Faculty of Business Administration and Economics, 2019.","short":"B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major Banks, Working Papers Dissertations from Paderborn University, Faculty of Business Administration and Economics, 2019."},"abstract":[{"lang":"eng","text":"Employing credit default swap (CDS) data for a sample of 52 major banks across 18 countries from 2008 to 2016, this paper investigates determinants of the outstanding net notional amount of CDS which are written on banks. We extend the current literature dealing with CDS trading by analyzing further CDS trading-specific, fundamental bank-specific as well as macroeconomic and institutional determinants with a focus on bank CDS trading. We find that, next to well-discussed determinants for corporate firms in the literature, especially a bank's tail risk, capital adequacy, loan portfolio and business model affect a bank's outstanding CDS net notional. This finding indicates that investors in the bank CDS market partly have a recourse to a fundamental analysis for their investment decision. Our study fills an important gap since empirical studies have solely focused on sovereign and corporate CDS yet. In addition, the analysis at hand provides important implications for both academics and practitioners since understanding the trading motives of bank CDS investors gives deeper insights into the still opaque CDS market. "}],"date_created":"2019-09-06T07:46:50Z","place":"Working Papers Dissertations from Paderborn University, Faculty of Business Administration and Economics","keyword":["banking","outstanding CDS net notional","determinants of bank CDS trading"],"type":"working_paper","department":[{"_id":"186"},{"_id":"188"}],"year":"2019","title":"Determinants of CDS trading on major banks","status":"public","jel":["G10","G12","G21"],"author":[{"last_name":"Hippert","first_name":"Benjamin","full_name":"Hippert, Benjamin","id":"48476"},{"id":"36049","last_name":"Uhde","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André"},{"orcid":"0000-0002-7820-3903","first_name":"Sascha Tobias","last_name":"Wengerek","full_name":"Wengerek, Sascha Tobias","id":"48837"}],"date_updated":"2024-04-17T13:35:52Z","language":[{"iso":"eng"}],"_id":"13145","series_title":"No 51","user_id":"36049"},{"keyword":["banking","outstanding CDS net notional","determinants of bank CDS trading"],"type":"working_paper","department":[{"_id":"186"},{"_id":"188"}],"date_created":"2018-10-31T10:05:47Z","abstract":[{"text":"Employing credit default swap (CDS) data for a sample of 52 major banks across 18\r\ncountries from 2008 to 2016, this paper investigates determinants of the outstanding\r\nnet notional amount of CDS which are written on banks. We extend the current\r\nliterature dealing with CDS trading by analyzing further CDS trading-specifi\fc,\r\nfundamental bank-speci\ffic as well as macroeconomic and institutional determinants\r\nwith a focus on bank CDS trading. We fi\fnd that, next to well-discussed determinants\r\nfor corporate \ffirms in the literature, especially a bank's tail risk, capital adequacy,\r\nloan portfolio and business model affect a bank's outstanding CDS net notional.\r\nThis \ffinding indicates that investors in the bank CDS market partly have a recourse\r\nto a fundamental analysis for their investment decision. Our study \ffills an important\r\ngap since empirical studies have solely focused on sovereign and corporate CDS yet.\r\nIn addition, the analysis at hand provides important implications for both academics\r\nand practitioners since understanding the trading motives of bank CDS investors\r\ngives deeper insights into the still opaque CDS market.","lang":"eng"}],"citation":{"apa":"Hippert, B., &#38; Uhde, A. (n.d.). <i>Determinants of CDS trading on major banks</i>.","ieee":"B. Hippert and A. Uhde, <i>Determinants of CDS trading on major banks</i>. .","chicago":"Hippert, Benjamin, and André Uhde. <i>Determinants of CDS Trading on Major Banks</i>, n.d.","short":"B. Hippert, A. Uhde, Determinants of CDS Trading on Major Banks, n.d.","mla":"Hippert, Benjamin, and André Uhde. <i>Determinants of CDS Trading on Major Banks</i>.","ama":"Hippert B, Uhde A. <i>Determinants of CDS Trading on Major Banks</i>.","bibtex":"@book{Hippert_Uhde, title={Determinants of CDS trading on major banks}, author={Hippert, Benjamin and Uhde, André} }"},"user_id":"36049","language":[{"iso":"eng"}],"_id":"5170","publication_status":"submitted","date_updated":"2024-04-17T13:35:47Z","year":"2019","title":"Determinants of CDS trading on major banks","status":"public","jel":["G10","G12","G21"],"author":[{"id":"48476","last_name":"Hippert","first_name":"Benjamin","full_name":"Hippert, Benjamin"},{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","first_name":"André","full_name":"Uhde, André"}]},{"citation":{"short":"A. Uhde, B. Hippert, The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes, 2019.","chicago":"Uhde, André, and Benjamin Hippert. <i>The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes</i>, 2019.","apa":"Uhde, A., &#38; Hippert, B. (2019). <i>The relationship between announcements of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes</i>.","ieee":"A. Uhde and B. Hippert, <i>The relationship between announcements of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes</i>. 2019.","ama":"Uhde A, Hippert B. <i>The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes</i>.; 2019.","bibtex":"@book{Uhde_Hippert_2019, title={The relationship between announcements of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes}, author={Uhde, André and Hippert, Benjamin}, year={2019} }","mla":"Uhde, André, and Benjamin Hippert. <i>The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes</i>. 2019."},"abstract":[{"text":"Employing a sample of 492 merger and acquisition (M&A) announcements from\r\n284 acquirers across North America and Europe between 2005 and 2018, this study\r\nanalyzes the impact of M&A announcements on an acquirers abnormal CDS spread\r\nchanges. We \fnd that spreads from CDS which are written on acquirers increase\r\nby 310 bps during a symmetric \fve-day event window suggesting that investors\r\nexpect an increase in the acquirers credit risk exposure due to M&As. Next to\r\nthis baseline \fnding, we conduct a large variety of sensitivity analyses to gain more\r\ninsight into the driving factors of the rising risk perception of CDS investors due to\r\nM&A announcements.","lang":"eng"}],"date_created":"2019-12-18T15:53:47Z","department":[{"_id":"19"},{"_id":"186"}],"keyword":["credit default swaps","risk perception of CDS investors","mergers and acquisitions","event study"],"type":"working_paper","jel":["G14","G34"],"author":[{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","full_name":"Uhde, André"},{"id":"48476","full_name":"Hippert, Benjamin","first_name":"Benjamin","last_name":"Hippert"}],"status":"public","title":"The relationship between announcements of complete mergers and acquisitions and acquirers' abnormal CDS-Spread changes","year":"2019","date_updated":"2024-04-17T13:35:41Z","language":[{"iso":"eng"}],"_id":"15392","user_id":"36049"},{"date_created":"2018-10-26T07:22:22Z","type":"journal_article","department":[{"_id":"275"}],"publication":"Die Wirtschaftsprüfung","issue":"9","abstract":[{"lang":"ger","text":"Restrukturierungen werden sowohl durch die Digitalisierung, aber auch durch klassische Themen – beispielsweise\r\ndie Notwendigkeit von Umsatz- und Kostensynergien in kompetitiven Märkten – verstärkt vorangetrieben.\r\nDieser Beitrag beleuchtet vor allem die Motive und Folgen aus wissenschaftlicher Perspektive, indem großzahlige\r\nempirische Befunde zu den Themen Beschäftigung, Finanzkennzahlen und Kapitalerhöhungen sowie steuerliche\r\nMotive prägnant zusammengefasst und im Kontext des geplanten Joint Ventures von thyssenkrupp und Tata\r\nSteel diskutiert werden."}],"main_file_link":[{"url":"https://www.idw.de/blob/108664/22a8a20e1240f553a0e6794daf8541c4/down-2018-09-data.pdf"}],"language":[{"iso":"ger"}],"title":"Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp","year":"2018","author":[{"id":"46447","full_name":"Sievers, Sönke","last_name":"Sievers","first_name":"Sönke"},{"first_name":"Caren","last_name":"Sureth-Sloane","orcid":" 0000-0002-8183-5901","full_name":"Sureth-Sloane, Caren","id":"530"},{"id":"36049","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André"}],"date_updated":"2024-04-17T13:34:51Z","publication_status":"published","intvolume":"        71","article_type":"original","citation":{"chicago":"Sievers, Sönke, Caren Sureth-Sloane, and André Uhde. “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” <i>Die Wirtschaftsprüfung</i> 71, no. 9 (2018): 569–75.","short":"S. Sievers, C. Sureth-Sloane, A. Uhde, Die Wirtschaftsprüfung 71 (2018) 569–575.","ieee":"S. Sievers, C. Sureth-Sloane, and A. Uhde, “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp,” <i>Die Wirtschaftsprüfung</i>, vol. 71, no. 9, pp. 569–575, 2018.","apa":"Sievers, S., Sureth-Sloane, C., &#38; Uhde, A. (2018). Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp. <i>Die Wirtschaftsprüfung</i>, <i>71</i>(9), 569–575.","bibtex":"@article{Sievers_Sureth-Sloane_Uhde_2018, title={Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp}, volume={71}, number={9}, journal={Die Wirtschaftsprüfung}, author={Sievers, Sönke and Sureth-Sloane, Caren and Uhde, André}, year={2018}, pages={569–575} }","ama":"Sievers S, Sureth-Sloane C, Uhde A. Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp. <i>Die Wirtschaftsprüfung</i>. 2018;71(9):569-575.","mla":"Sievers, Sönke, et al. “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” <i>Die Wirtschaftsprüfung</i>, vol. 71, no. 9, 2018, pp. 569–75."},"page":"569-575","_id":"4874","user_id":"36049","volume":71,"status":"public"},{"author":[{"last_name":"Sureth-Sloane","first_name":"Caren","orcid":" 0000-0002-8183-5901","full_name":"Sureth-Sloane, Caren","id":"530"},{"id":"46447","first_name":"Sönke","last_name":"Sievers","full_name":"Sievers, Sönke"},{"id":"36049","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André"}],"title":"Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp","year":"2018","status":"public","intvolume":"        71","date_updated":"2026-05-27T10:58:42Z","language":[{"iso":"ger"}],"_id":"4678","page":"569-575","volume":71,"user_id":"530","citation":{"short":"C. Sureth-Sloane, S. Sievers, A. Uhde, Die Wirtschaftsprüfung 71 (2018) 569–575.","chicago":"Sureth-Sloane, Caren, Sönke Sievers, and André Uhde. “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” <i>Die Wirtschaftsprüfung</i> 71, no. 9 (2018): 569–75.","ieee":"C. Sureth-Sloane, S. Sievers, and A. Uhde, “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp,” <i>Die Wirtschaftsprüfung</i>, vol. 71, no. 9, pp. 569–575, 2018.","apa":"Sureth-Sloane, C., Sievers, S., &#38; Uhde, A. (2018). Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp. <i>Die Wirtschaftsprüfung</i>, <i>71</i>(9), 569–575.","bibtex":"@article{Sureth-Sloane_Sievers_Uhde_2018, title={Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp}, volume={71}, number={9}, journal={Die Wirtschaftsprüfung}, author={Sureth-Sloane, Caren and Sievers, Sönke and Uhde, André}, year={2018}, pages={569–575} }","ama":"Sureth-Sloane C, Sievers S, Uhde A. Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp. <i>Die Wirtschaftsprüfung</i>. 2018;71(9):569-575.","mla":"Sureth-Sloane, Caren, et al. “Restrukturierungen: operative und finanzielle Wertbeiträge. 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