---
_id: '29317'
abstract:
- lang: eng
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.
author:
- first_name: Sebastian
full_name: Letmathe, Sebastian
id: '23991'
last_name: Letmathe
- first_name: Yuanhua
full_name: Feng, Yuanhua
id: '20760'
last_name: Feng
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Letmathe S, Feng Y, Uhde A. Semiparametric GARCH models with long memory applied
to Value at Risk and Expected Shortfall. Journal of Risk. doi:10.21314/JOR.2022.044
apa: Letmathe, S., Feng, Y., & Uhde, A. (n.d.). Semiparametric GARCH models
with long memory applied to Value at Risk and Expected Shortfall. Journal of
Risk. https://doi.org/10.21314/JOR.2022.044
bibtex: '@article{Letmathe_Feng_Uhde, title={Semiparametric GARCH models with long
memory applied to Value at Risk and Expected Shortfall}, DOI={10.21314/JOR.2022.044},
journal={Journal of Risk}, author={Letmathe, Sebastian and Feng, Yuanhua and Uhde,
André} }'
chicago: Letmathe, Sebastian, Yuanhua Feng, and André Uhde. “Semiparametric GARCH
Models with Long Memory Applied to Value at Risk and Expected Shortfall.” Journal
of Risk, n.d. https://doi.org/10.21314/JOR.2022.044.
ieee: 'S. Letmathe, Y. Feng, and A. Uhde, “Semiparametric GARCH models with long
memory applied to Value at Risk and Expected Shortfall,” Journal of Risk,
doi: 10.21314/JOR.2022.044.'
mla: Letmathe, Sebastian, et al. “Semiparametric GARCH Models with Long Memory Applied
to Value at Risk and Expected Shortfall.” Journal of Risk, doi:10.21314/JOR.2022.044.
short: S. Letmathe, Y. Feng, A. Uhde, Journal of Risk (n.d.).
date_created: 2022-01-13T11:23:02Z
date_updated: 2024-04-17T13:34:54Z
department:
- _id: '186'
- _id: '19'
doi: 10.21314/JOR.2022.044
jel:
- C14
- C51
- C52
- G17
- G32
keyword:
- Semiparametric
- long memory
- GARCH models
- forecasting
- Value at Risk
- Expected Shortfall
- traffic light test
- Basel Committee on Banking Supervision
language:
- iso: eng
publication: Journal of Risk
publication_status: inpress
status: public
title: Semiparametric GARCH models with long memory applied to Value at Risk and Expected
Shortfall
type: journal_article
user_id: '36049'
year: '2022'
...
---
_id: '5163'
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."
author:
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Uhde A. Tax avoidance through securitization. The Quarterly Review of Economics
and Finance. 2021;79:411-421. doi:10.1016/j.qref.2020.07.008
apa: Uhde, A. (2021). Tax avoidance through securitization. The Quarterly Review
of Economics and Finance, 79, 411–421. https://doi.org/10.1016/j.qref.2020.07.008
bibtex: '@article{Uhde_2021, title={Tax avoidance through securitization}, volume={79},
DOI={10.1016/j.qref.2020.07.008},
journal={The Quarterly Review of Economics and Finance}, author={Uhde, André},
year={2021}, pages={411–421} }'
chicago: 'Uhde, André. “Tax Avoidance through Securitization.” The Quarterly
Review of Economics and Finance 79 (2021): 411–21. https://doi.org/10.1016/j.qref.2020.07.008.'
ieee: A. Uhde, “Tax avoidance through securitization,” The Quarterly Review of
Economics and Finance, vol. 79, pp. 411–421, 2021.
mla: Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review
of Economics and Finance, vol. 79, 2021, pp. 411–21, doi:10.1016/j.qref.2020.07.008.
short: A. Uhde, The Quarterly Review of Economics and Finance 79 (2021) 411–421.
date_created: 2018-10-31T09:55:40Z
date_updated: 2022-01-06T07:01:40Z
department:
- _id: '186'
- _id: '188'
doi: 10.1016/j.qref.2020.07.008
intvolume: ' 79'
jel:
- G21
- G28
- H25
- H71
keyword:
- Securitization
- Credit risk transfer
- Effective tax rates
- European banking
language:
- iso: eng
page: 411-421
publication: The Quarterly Review of Economics and Finance
status: public
title: Tax avoidance through securitization
type: journal_article
user_id: '81176'
volume: 79
year: '2021'
...
---
_id: '36060'
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. '
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
citation:
ama: Hippert B, Uhde A. CDS Investors’ Risk Perceptions of M&A Announcements.
apa: Hippert, B., & Uhde, A. (n.d.). CDS Investors’ Risk Perceptions of M&A
Announcements.
bibtex: '@book{Hippert_Uhde, title={CDS Investors’ Risk Perceptions of M&A Announcements},
author={Hippert, Benjamin and Uhde, André} }'
chicago: Hippert, Benjamin, and André Uhde. CDS Investors’ Risk Perceptions of
M&A Announcements, n.d.
ieee: B. Hippert and A. Uhde, CDS Investors’ Risk Perceptions of M&A Announcements.
.
mla: Hippert, Benjamin, and André Uhde. CDS Investors’ Risk Perceptions of M&A
Announcements.
short: B. Hippert, A. Uhde, CDS Investors’ Risk Perceptions of M&A Announcements,
n.d.
date_created: 2023-01-11T11:31:54Z
date_updated: 2023-11-17T10:23:54Z
department:
- _id: '186'
- _id: '188'
jel:
- G14
- G34
keyword:
- credit default swaps
- risk perception of CDS investors
- mergers and acquisitions
- event study
language:
- iso: eng
publication_status: unpublished
status: public
title: CDS Investors’ Risk Perceptions of M&A Announcements
type: working_paper
user_id: '36049'
year: '2021'
...
---
_id: '36063'
abstract:
- lang: eng
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. "
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
last_name: Wengerek
citation:
ama: Hippert B, Uhde A, Wengerek ST. Determinants of CDS Trading on Major Banks.
apa: Hippert, B., Uhde, A., & Wengerek, S. T. (n.d.). Determinants of CDS
Trading on Major Banks.
bibtex: '@book{Hippert_Uhde_Wengerek, title={Determinants of CDS Trading on Major
Banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}
}'
chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. Determinants
of CDS Trading on Major Banks, n.d.
ieee: B. Hippert, A. Uhde, and S. T. Wengerek, Determinants of CDS Trading on
Major Banks. .
mla: Hippert, Benjamin, et al. Determinants of CDS Trading on Major Banks.
short: B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major
Banks, n.d.
date_created: 2023-01-11T11:34:17Z
date_updated: 2023-11-17T10:23:44Z
department:
- _id: '186'
- _id: '188'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
publication_status: unpublished
status: public
title: Determinants of CDS Trading on Major Banks
type: working_paper
user_id: '36049'
year: '2021'
...
---
_id: '29313'
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. '
author:
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
last_name: Wengerek
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Wengerek ST, Uhde A. Share Price Reactions to Tariff Imposition Announcements
in the Trump Era – an Event Study of the Trade Conflict.; 2021.
apa: Wengerek, S. T., & Uhde, A. (2021). Share Price Reactions to Tariff Imposition
Announcements in the Trump Era – an Event Study of the Trade Conflict.
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} }'
chicago: Wengerek, Sascha Tobias, and André 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, Share Price Reactions to Tariff Imposition Announcements
in the Trump Era – an Event Study of the Trade Conflict. 2021.
mla: Wengerek, Sascha Tobias, and André Uhde. Share Price Reactions to Tariff
Imposition Announcements in the Trump Era – an Event Study of the Trade Conflict.
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.
date_created: 2022-01-13T11:06:25Z
date_updated: 2024-04-17T13:35:20Z
department:
- _id: '186'
- _id: '19'
jel:
- F14
- F18
- F23
- F51
keyword:
- event study
- international relations
- protectionism
- strategic trade policy
- tariffs
- trade conflict
language:
- iso: eng
status: public
title: Share Price Reactions to Tariff Imposition Announcements in the Trump Era –
an Event Study of the Trade Conflict
type: working_paper
user_id: '21810'
year: '2021'
...
---
_id: '29315'
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.
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Hippert B, Uhde A. CDS Investors’ Risk Perceptions of M&A Announcements.;
2021.
apa: Hippert, B., & Uhde, A. (2021). CDS investors’ risk perceptions of M&A
announcements.
bibtex: '@book{Hippert_Uhde_2021, title={CDS investors’ risk perceptions of M&A
announcements}, author={Hippert, Benjamin and Uhde, André}, year={2021} }'
chicago: Hippert, Benjamin, and André Uhde. CDS Investors’ Risk Perceptions of
M&A Announcements, 2021.
ieee: B. Hippert and A. Uhde, CDS investors’ risk perceptions of M&A announcements.
2021.
mla: Hippert, Benjamin, and André Uhde. CDS Investors’ Risk Perceptions of M&A
Announcements. 2021.
short: B. Hippert, A. Uhde, CDS Investors’ Risk Perceptions of M&A Announcements,
2021.
date_created: 2022-01-13T11:15:12Z
date_updated: 2024-04-17T13:35:29Z
department:
- _id: '186'
- _id: '19'
language:
- iso: eng
status: public
title: CDS investors’ risk perceptions of M&A announcements
type: working_paper
user_id: '21810'
year: '2021'
...
---
_id: '29316'
abstract:
- lang: eng
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.
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
last_name: Wengerek
citation:
ama: Hippert B, Uhde A, Wengerek ST. Risk Allocation through Securitization -
Evidence from Non-Performing Loans.; 2021.
apa: Hippert, B., Uhde, A., & Wengerek, S. T. (2021). Risk allocation through
securitization - Evidence from non-performing loans.
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} }'
chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. Risk Allocation
through Securitization - Evidence from Non-Performing Loans, 2021.
ieee: B. Hippert, A. Uhde, and S. T. Wengerek, Risk allocation through securitization
- Evidence from non-performing loans. 2021.
mla: Hippert, Benjamin, et al. Risk Allocation through Securitization - Evidence
from Non-Performing Loans. 2021.
short: B. Hippert, A. Uhde, S.T. Wengerek, Risk Allocation through Securitization
- Evidence from Non-Performing Loans, 2021.
date_created: 2022-01-13T11:19:28Z
date_updated: 2024-04-17T13:36:05Z
department:
- _id: '186'
jel:
- G21
- G28
- G32
keyword:
- European Banking
- Non-performing Loans
- Risk Allocation
- Securitization
language:
- iso: eng
status: public
title: Risk allocation through securitization - Evidence from non-performing loans
type: working_paper
user_id: '36049'
year: '2021'
...
---
_id: '34593'
author:
- first_name: Oliver
full_name: Mehring, Oliver
last_name: Mehring
- first_name: Per
full_name: Olsson, Per
last_name: Olsson
- first_name: Soenke
full_name: Sievers, Soenke
last_name: Sievers
- first_name: Christian
full_name: Sofilkanitsch , Christian
last_name: 'Sofilkanitsch '
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Michael
full_name: Eber, Michael
last_name: Eber
citation:
ama: Mehring O, Olsson P, Sievers S, Sofilkanitsch C, Uhde A, Eber M. Co-Movement
of Price and Intrinsic Value-Does Accounting Information Matter? TRR; 2020.
apa: Mehring, O., Olsson, P., Sievers, S., Sofilkanitsch , C., Uhde, A., & Eber,
M. (2020). Co-movement of Price and Intrinsic Value-Does Accounting Information
Matter? TRR.
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} }'
chicago: Mehring, Oliver, Per Olsson, Soenke Sievers, Christian Sofilkanitsch ,
André Uhde, and Michael Eber. Co-Movement of Price and Intrinsic Value-Does
Accounting Information Matter? TRR, 2020.
ieee: O. Mehring, P. Olsson, S. Sievers, C. Sofilkanitsch , A. Uhde, and M. Eber,
Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?
TRR, 2020.
mla: Mehring, Oliver, et al. Co-Movement of Price and Intrinsic Value-Does Accounting
Information Matter? 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.
date_created: 2022-12-20T11:53:58Z
date_updated: 2022-12-23T10:41:04Z
language:
- iso: eng
publisher: TRR
status: public
title: Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?
type: working_paper
user_id: '26589'
year: '2020'
...
---
_id: '17522'
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.
article_type: original
author:
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Uhde A. Tax avoidance through securitization. The Quarterly Review of Economics
and Finance. Published online 2020. doi:10.1016/j.qref.2020.07.008
apa: Uhde, A. (2020). Tax avoidance through securitization. The Quarterly Review
of Economics and Finance. https://doi.org/10.1016/j.qref.2020.07.008
bibtex: '@article{Uhde_2020, title={Tax avoidance through securitization}, DOI={10.1016/j.qref.2020.07.008},
journal={The Quarterly Review of Economics and Finance}, author={Uhde, André},
year={2020} }'
chicago: Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review
of Economics and Finance, 2020. https://doi.org/10.1016/j.qref.2020.07.008.
ieee: 'A. Uhde, “Tax avoidance through securitization,” The Quarterly Review
of Economics and Finance, 2020, doi: 10.1016/j.qref.2020.07.008.'
mla: Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review
of Economics and Finance, 2020, doi:10.1016/j.qref.2020.07.008.
short: A. Uhde, The Quarterly Review of Economics and Finance (2020).
date_created: 2020-08-01T07:20:33Z
date_updated: 2024-04-17T13:35:56Z
department:
- _id: '19'
doi: 10.1016/j.qref.2020.07.008
jel:
- G21
- G28
- H25
- H71
keyword:
- Securitization
- Credit risk transfer
- Effective tax rates
- European banking
language:
- iso: eng
publication: The Quarterly Review of Economics and Finance
publication_identifier:
issn:
- 1062-9769
status: public
title: Tax avoidance through securitization
type: journal_article
user_id: '36049'
year: '2020'
...
---
_id: '17401'
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.
author:
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Uhde A. Tax avoidance through securitization. The Quarterly Review of Economics
and Finance. Published online 2020.
apa: Uhde, A. (2020). Tax avoidance through securitization. The Quarterly Review
of Economics and Finance.
bibtex: '@article{Uhde_2020, title={Tax avoidance through securitization}, journal={The
Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2020}
}'
chicago: Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review
of Economics and Finance, 2020.
ieee: A. Uhde, “Tax avoidance through securitization,” The Quarterly Review of
Economics and Finance, 2020.
mla: Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review
of Economics and Finance, 2020.
short: A. Uhde, The Quarterly Review of Economics and Finance (2020).
date_created: 2020-07-20T06:29:36Z
date_updated: 2024-04-17T13:36:03Z
department:
- _id: '19'
jel:
- G21
- G28
- H25
- H71
keyword:
- Securitization
- credit risk transfer
- effective tax rates
- European banking
language:
- iso: eng
publication: The Quarterly Review of Economics and Finance
status: public
title: Tax avoidance through securitization
type: journal_article
user_id: '36049'
year: '2020'
...
---
_id: '4562'
abstract:
- lang: eng
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.
article_type: original
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
id: '48476'
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
id: '48837'
last_name: Wengerek
orcid: 0000-0002-7820-3903
citation:
ama: 'Hippert B, Uhde A, Wengerek ST. Portfolio Benefits of Adding Corporate Credit
Default Swap Indices: Evidence from North America and Europe. Review of Derivatives
Research . 2019;22(2):203-259. doi:https://doi.org/10.1007/s11147-018-9148-8'
apa: 'Hippert, B., Uhde, A., & Wengerek, S. T. (2019). Portfolio Benefits of
Adding Corporate Credit Default Swap Indices: Evidence from North America and
Europe. Review of Derivatives Research , 22(2), 203–259. https://doi.org/10.1007/s11147-018-9148-8'
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={https://doi.org/10.1007/s11147-018-9148-8},
number={2}, journal={Review of Derivatives Research }, author={Hippert, Benjamin
and Uhde, André and Wengerek, Sascha Tobias}, year={2019}, pages={203–259} }'
chicago: 'Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. “Portfolio
Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North
America and Europe.” Review of Derivatives Research 22, no. 2 (2019):
203–59. https://doi.org/10.1007/s11147-018-9148-8.'
ieee: 'B. Hippert, A. Uhde, and S. T. Wengerek, “Portfolio Benefits of Adding Corporate
Credit Default Swap Indices: Evidence from North America and Europe,” Review
of Derivatives Research , vol. 22, no. 2, pp. 203–259, 2019, doi: https://doi.org/10.1007/s11147-018-9148-8.'
mla: 'Hippert, Benjamin, et al. “Portfolio Benefits of Adding Corporate Credit Default
Swap Indices: Evidence from North America and Europe.” Review of Derivatives
Research , vol. 22, no. 2, 2019, pp. 203–59, doi:https://doi.org/10.1007/s11147-018-9148-8.'
short: B. Hippert, A. Uhde, S.T. Wengerek, Review of Derivatives Research 22 (2019)
203–259.
date_created: 2018-10-01T12:17:35Z
date_updated: 2022-05-04T06:15:02Z
department:
- _id: '188'
- _id: '186'
doi: https://doi.org/10.1007/s11147-018-9148-8
intvolume: ' 22'
issue: '2'
jel:
- C61
- G01
- G11
- G15
- G23
keyword:
- Corporate credit default swap indices
- Mean-variance asset allocation
- Out-of-sample portfolio optimization
- Portfolio risk-diversification
- Portfolio performance evaluation
language:
- iso: eng
page: 203-259
publication: 'Review of Derivatives Research '
publication_status: published
status: public
title: 'Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence
from North America and Europe'
type: journal_article
user_id: '36049'
volume: 22
year: '2019'
...
---
_id: '36004'
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. '
author:
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
last_name: Wengerek
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
citation:
ama: Wengerek ST, Uhde A. Share Price Reactions to Tariff Imposition Announcements
in the Trump Era – An Event Study of the Trade Conflict. Paderborn University;
2019.
apa: Wengerek, S. T., & Uhde, A. (2019). Share price reactions to tariff
imposition announcements in the Trump era – An event study of the trade conflict.
Paderborn University.
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} }'
chicago: Wengerek, Sascha Tobias, and André Uhde. Share Price Reactions to Tariff
Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict.
Paderborn University, 2019.
ieee: S. T. Wengerek and A. Uhde, Share price reactions to tariff imposition
announcements in the Trump era – An event study of the trade conflict. Paderborn
University, 2019.
mla: Wengerek, Sascha Tobias, and André Uhde. Share Price Reactions to Tariff
Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict.
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.
date_created: 2023-01-11T10:57:04Z
date_updated: 2023-01-11T11:05:30Z
department:
- _id: '186'
- _id: '188'
jel:
- F14
- F18
- F23
- F51
keyword:
- event study
- international relations
- protectionism
- strategic trade policy
- tariffs
- trade conflict
language:
- iso: eng
publication_status: published
publisher: Paderborn University
status: public
title: Share price reactions to tariff imposition announcements in the Trump era –
An event study of the trade conflict
type: working_paper
user_id: '21810'
year: '2019'
...
---
_id: '29314'
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.
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
last_name: Wengerek
citation:
ama: Hippert B, Uhde A, Wengerek ST. Determinants of CDS Trading on Major Banks.;
2019.
apa: Hippert, B., Uhde, A., & Wengerek, S. T. (2019). Determinants of CDS
trading on major banks.
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} }'
chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. Determinants
of CDS Trading on Major Banks, 2019.
ieee: B. Hippert, A. Uhde, and S. T. Wengerek, Determinants of CDS trading on
major banks. 2019.
mla: Hippert, Benjamin, et al. Determinants of CDS Trading on Major Banks.
2019.
short: B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major
Banks, 2019.
date_created: 2022-01-13T11:12:03Z
date_updated: 2024-04-17T13:35:25Z
department:
- _id: '186'
- _id: '19'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
status: public
title: Determinants of CDS trading on major banks
type: working_paper
user_id: '21810'
year: '2019'
...
---
_id: '13145'
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. '
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
id: '48476'
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Sascha Tobias
full_name: Wengerek, Sascha Tobias
id: '48837'
last_name: Wengerek
orcid: 0000-0002-7820-3903
citation:
ama: Hippert B, Uhde A, Wengerek ST. Determinants of CDS Trading on Major Banks.;
2019.
apa: Hippert, B., Uhde, A., & Wengerek, S. T. (2019). Determinants of CDS
trading on major banks.
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}
}'
chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. Determinants
of CDS Trading on Major Banks. No 51. Working Papers Dissertations from Paderborn
University, Faculty of Business Administration and Economics, 2019.
ieee: B. Hippert, A. Uhde, and S. T. Wengerek, Determinants of CDS trading on
major banks. Working Papers Dissertations from Paderborn University, Faculty
of Business Administration and Economics, 2019.
mla: Hippert, Benjamin, et al. Determinants of CDS Trading on Major Banks.
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.
date_created: 2019-09-06T07:46:50Z
date_updated: 2024-04-17T13:35:52Z
department:
- _id: '186'
- _id: '188'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
place: Working Papers Dissertations from Paderborn University, Faculty of Business
Administration and Economics
series_title: No 51
status: public
title: Determinants of CDS trading on major banks
type: working_paper
user_id: '36049'
year: '2019'
...
---
_id: '5170'
abstract:
- lang: eng
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."
author:
- first_name: Benjamin
full_name: Hippert, Benjamin
id: '48476'
last_name: Hippert
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: Hippert B, Uhde A. Determinants of CDS Trading on Major Banks.
apa: Hippert, B., & Uhde, A. (n.d.). Determinants of CDS trading on major
banks.
bibtex: '@book{Hippert_Uhde, title={Determinants of CDS trading on major banks},
author={Hippert, Benjamin and Uhde, André} }'
chicago: Hippert, Benjamin, and André Uhde. Determinants of CDS Trading on Major
Banks, n.d.
ieee: B. Hippert and A. Uhde, Determinants of CDS trading on major banks.
.
mla: Hippert, Benjamin, and André Uhde. Determinants of CDS Trading on Major
Banks.
short: B. Hippert, A. Uhde, Determinants of CDS Trading on Major Banks, n.d.
date_created: 2018-10-31T10:05:47Z
date_updated: 2024-04-17T13:35:47Z
department:
- _id: '186'
- _id: '188'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
publication_status: submitted
status: public
title: Determinants of CDS trading on major banks
type: working_paper
user_id: '36049'
year: '2019'
...
---
_id: '15392'
abstract:
- lang: eng
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."
author:
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Benjamin
full_name: Hippert, Benjamin
id: '48476'
last_name: Hippert
citation:
ama: Uhde A, Hippert B. The Relationship between Announcements of Complete Mergers
and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes.; 2019.
apa: Uhde, A., & Hippert, B. (2019). The relationship between announcements
of complete mergers and acquisitions and acquirers’ abnormal CDS-Spread changes.
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} }'
chicago: Uhde, André, and Benjamin Hippert. The Relationship between Announcements
of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes,
2019.
ieee: A. Uhde and B. Hippert, The relationship between announcements of complete
mergers and acquisitions and acquirers’ abnormal CDS-Spread changes. 2019.
mla: Uhde, André, and Benjamin Hippert. The Relationship between Announcements
of Complete Mergers and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes.
2019.
short: A. Uhde, B. Hippert, The Relationship between Announcements of Complete Mergers
and Acquisitions and Acquirers’ Abnormal CDS-Spread Changes, 2019.
date_created: 2019-12-18T15:53:47Z
date_updated: 2024-04-17T13:35:41Z
department:
- _id: '19'
- _id: '186'
jel:
- G14
- G34
keyword:
- credit default swaps
- risk perception of CDS investors
- mergers and acquisitions
- event study
language:
- iso: eng
status: public
title: The relationship between announcements of complete mergers and acquisitions
and acquirers' abnormal CDS-Spread changes
type: working_paper
user_id: '36049'
year: '2019'
...
---
_id: '4874'
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."
article_type: original
author:
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: 'Sievers S, Sureth-Sloane C, Uhde A. Restrukturierungen: operative und finanzielle
Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.
Die Wirtschaftsprüfung. 2018;71(9):569-575.'
apa: 'Sievers, S., Sureth-Sloane, C., & Uhde, A. (2018). Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp. Die Wirtschaftsprüfung, 71(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} }'
chicago: 'Sievers, Sönke, Caren Sureth-Sloane, and André Uhde. “Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp.” Die Wirtschaftsprüfung 71, no. 9 (2018):
569–75.'
ieee: 'S. Sievers, C. Sureth-Sloane, and A. Uhde, “Restrukturierungen: operative
und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen
bei thyssenkrupp,” Die Wirtschaftsprüfung, vol. 71, no. 9, pp. 569–575,
2018.'
mla: 'Sievers, Sönke, et al. “Restrukturierungen: operative und finanzielle Wertbeiträge.
Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” Die
Wirtschaftsprüfung, vol. 71, no. 9, 2018, pp. 569–75.'
short: S. Sievers, C. Sureth-Sloane, A. Uhde, Die Wirtschaftsprüfung 71 (2018) 569–575.
date_created: 2018-10-26T07:22:22Z
date_updated: 2024-04-17T13:34:51Z
department:
- _id: '275'
intvolume: ' 71'
issue: '9'
language:
- iso: ger
main_file_link:
- url: https://www.idw.de/blob/108664/22a8a20e1240f553a0e6794daf8541c4/down-2018-09-data.pdf
page: 569-575
publication: Die Wirtschaftsprüfung
publication_status: published
status: public
title: 'Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung
vor dem Hintergrund der Entwicklungen bei thyssenkrupp'
type: journal_article
user_id: '36049'
volume: 71
year: '2018'
...
---
_id: '4678'
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."
author:
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: 'Sureth-Sloane C, Sievers S, Uhde A. Restrukturierungen: operative und finanzielle
Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.
Die Wirtschaftsprüfung. 2018;71(9):569-575.'
apa: 'Sureth-Sloane, C., Sievers, S., & Uhde, A. (2018). Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp. Die Wirtschaftsprüfung, 71(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} }'
chicago: 'Sureth-Sloane, Caren, Sönke Sievers, and André Uhde. “Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp.” Die Wirtschaftsprüfung 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,” Die Wirtschaftsprüfung, vol. 71, no. 9, pp. 569–575,
2018.'
mla: 'Sureth-Sloane, Caren, et al. “Restrukturierungen: operative und finanzielle
Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.”
Die Wirtschaftsprüfung, vol. 71, no. 9, 2018, pp. 569–75.'
short: C. Sureth-Sloane, S. Sievers, A. Uhde, Die Wirtschaftsprüfung 71 (2018) 569–575.
date_created: 2018-10-12T08:23:17Z
date_updated: 2026-05-27T10:58:42Z
department:
- _id: '187'
- _id: '188'
- _id: '275'
intvolume: ' 71'
issue: '9'
language:
- iso: ger
page: 569-575
publication: Die Wirtschaftsprüfung
status: public
title: 'Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung
vor dem Hintergrund der Entwicklungen bei thyssenkrupp'
type: journal_article
user_id: '530'
volume: 71
year: '2018'
...
---
_id: '4743'
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."
author:
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: 'Sievers S, Sureth-Sloane C, Uhde A. Restrukturierungen: operative und finanzielle
Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.
Die Wirtschaftsprüfung. 2018;71(9):569-575.'
apa: 'Sievers, S., Sureth-Sloane, C., & Uhde, A. (2018). Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp. Die Wirtschaftsprüfung, 71(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} }'
chicago: 'Sievers, Sönke, Caren Sureth-Sloane, and André Uhde. “Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp.” Die Wirtschaftsprüfung 71, no. 9 (2018):
569–75.'
ieee: 'S. Sievers, C. Sureth-Sloane, and A. Uhde, “Restrukturierungen: operative
und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen
bei thyssenkrupp,” Die Wirtschaftsprüfung, vol. 71, no. 9, pp. 569–575,
2018.'
mla: 'Sievers, Sönke, et al. “Restrukturierungen: operative und finanzielle Wertbeiträge.
Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” Die
Wirtschaftsprüfung, vol. 71, no. 9, 2018, pp. 569–75.'
short: S. Sievers, C. Sureth-Sloane, A. Uhde, Die Wirtschaftsprüfung 71 (2018) 569–575.
date_created: 2018-10-15T10:42:21Z
date_updated: 2026-06-03T09:47:03Z
department:
- _id: '187'
- _id: '275'
- _id: '188'
- _id: '635'
- _id: '186'
intvolume: ' 71'
issue: '9'
language:
- iso: ger
page: 569-575
publication: Die Wirtschaftsprüfung
quality_controlled: '1'
status: public
title: 'Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung
vor dem Hintergrund der Entwicklungen bei thyssenkrupp'
type: journal_article
user_id: '36049'
volume: 71
year: '2018'
...
---
_id: '17519'
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."
author:
- first_name: Sönke
full_name: Sievers, Sönke
id: '46447'
last_name: Sievers
- first_name: Caren
full_name: Sureth-Sloane, Caren
id: '530'
last_name: Sureth-Sloane
orcid: ' 0000-0002-8183-5901'
- first_name: André
full_name: Uhde, André
id: '36049'
last_name: Uhde
orcid: https://orcid.org/0000-0002-8058-8857
citation:
ama: 'Sievers S, Sureth-Sloane C, Uhde A. Restrukturierungen: operative und finanzielle
Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.
Die Wirtschaftsprüfung. 2018;71(9).'
apa: 'Sievers, S., Sureth-Sloane, C., & Uhde, A. (2018). Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp. Die Wirtschaftsprüfung, 71(9).'
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}
}'
chicago: 'Sievers, Sönke, Caren Sureth-Sloane, and André Uhde. “Restrukturierungen:
operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der
Entwicklungen bei thyssenkrupp.” Die Wirtschaftsprüfung 71, no. 9 (2018).'
ieee: 'S. Sievers, C. Sureth-Sloane, and A. Uhde, “Restrukturierungen: operative
und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen
bei thyssenkrupp,” Die Wirtschaftsprüfung, vol. 71, no. 9, 2018.'
mla: 'Sievers, Sönke, et al. “Restrukturierungen: operative und finanzielle Wertbeiträge.
Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” Die
Wirtschaftsprüfung, vol. 71, no. 9, 2018.'
short: S. Sievers, C. Sureth-Sloane, A. Uhde, Die Wirtschaftsprüfung 71 (2018).
date_created: 2020-07-31T11:39:47Z
date_updated: 2026-06-03T09:45:57Z
intvolume: ' 71'
issue: '9'
language:
- iso: ger
publication: Die Wirtschaftsprüfung
publication_status: published
status: public
title: 'Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung
vor dem Hintergrund der Entwicklungen bei thyssenkrupp'
type: journal_article
user_id: '36049'
volume: 71
year: '2018'
...