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  Subjects -> BUSINESS AND ECONOMICS (Total: 3397 journals)
    - ACCOUNTING (105 journals)
    - BANKING AND FINANCE (290 journals)
    - BUSINESS AND ECONOMICS (1245 journals)
    - CONSUMER EDUCATION AND PROTECTION (23 journals)
    - COOPERATIVES (4 journals)
    - ECONOMIC SCIENCES: GENERAL (190 journals)
    - ECONOMIC SYSTEMS, THEORIES AND HISTORY (217 journals)
    - FASHION AND CONSUMER TRENDS (15 journals)
    - HUMAN RESOURCES (97 journals)
    - INSURANCE (26 journals)
    - INTERNATIONAL COMMERCE (136 journals)
    - INTERNATIONAL DEVELOPMENT AND AID (91 journals)
    - INVESTMENTS (22 journals)
    - LABOR AND INDUSTRIAL RELATIONS (51 journals)
    - MACROECONOMICS (17 journals)
    - MANAGEMENT (562 journals)
    - MARKETING AND PURCHASING (100 journals)
    - MICROECONOMICS (24 journals)
    - PRODUCTION OF GOODS AND SERVICES (140 journals)
    - PUBLIC FINANCE, TAXATION (40 journals)
    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

BUSINESS AND ECONOMICS (1245 journals)                  1 2 3 4 5 6 7 | Last

Showing 1 - 200 of 1566 Journals sorted alphabetically
4OR: A Quarterly Journal of Operations Research     Hybrid Journal   (Followers: 10)
Abacus     Hybrid Journal   (Followers: 16)
Accounting Forum     Hybrid Journal   (Followers: 27)
Acta Amazonica     Open Access   (Followers: 6)
Acta Commercii     Open Access   (Followers: 4)
Acta Oeconomica     Full-text available via subscription   (Followers: 3)
Acta Scientiarum. Human and Social Sciences     Open Access   (Followers: 8)
Acta Universitatis Danubius. Œconomica     Open Access   (Followers: 3)
Acta Universitatis Nicolai Copernici Zarządzanie     Open Access   (Followers: 4)
AD-minister     Open Access   (Followers: 3)
Adam Academy : Journal of Social Sciences / Adam Akademi : Sosyal Bilimler Dergisi     Open Access   (Followers: 2)
AdBispreneur : Jurnal Pemikiran dan Penelitian Administrasi Bisnis dan Kewirausahaan     Open Access  
Admisi dan Bisnis     Open Access  
ADR Bulletin     Open Access   (Followers: 6)
Advances in Developing Human Resources     Hybrid Journal   (Followers: 26)
Advances in Economics and Business     Open Access   (Followers: 15)
AfricaGrowth Agenda     Full-text available via subscription   (Followers: 2)
African Affairs     Hybrid Journal   (Followers: 65)
African Development Review     Hybrid Journal   (Followers: 37)
African Journal of Business and Economic Research     Full-text available via subscription   (Followers: 4)
African Journal of Business Ethics     Open Access   (Followers: 6)
African Review of Economics and Finance     Open Access   (Followers: 4)
Afro-Asian Journal of Finance and Accounting     Hybrid Journal   (Followers: 8)
Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi     Open Access   (Followers: 3)
Agronomy     Open Access   (Followers: 10)
Akademik Yaklaşımlar Dergisi     Open Access  
Akademika : Journal of Southeast Asia Social Sciences and Humanities     Open Access   (Followers: 7)
Alphanumeric Journal : The Journal of Operations Research, Statistics, Econometrics and Management Information Systems     Open Access   (Followers: 5)
American Economic Journal : Applied Economics     Full-text available via subscription   (Followers: 204)
American Enterprise Institute     Free  
American Journal of Business     Hybrid Journal   (Followers: 17)
American Journal of Business and Management     Open Access   (Followers: 55)
American Journal of Business Education     Open Access   (Followers: 12)
American Journal of Economics and Business Administration     Open Access   (Followers: 26)
American Journal of Economics and Sociology     Hybrid Journal   (Followers: 34)
American Journal of Evaluation     Hybrid Journal   (Followers: 15)
American Journal of Finance and Accounting     Hybrid Journal   (Followers: 22)
American Journal of Health Economics     Full-text available via subscription   (Followers: 12)
American Journal of Industrial and Business Management     Open Access   (Followers: 25)
American Journal of Medical Quality     Hybrid Journal   (Followers: 8)
American Law and Economics Review     Hybrid Journal   (Followers: 27)
ANALES de la Universidad Central del Ecuador     Open Access   (Followers: 3)
Ankara University SBF Journal     Open Access  
Annales de l'Institut Henri Poincare (C) Non Linear Analysis     Full-text available via subscription   (Followers: 1)
Annals in Social Responsibility     Full-text available via subscription  
Annals of Finance     Hybrid Journal   (Followers: 32)
Annals of Operations Research     Hybrid Journal   (Followers: 10)
Annual Review of Economics     Full-text available via subscription   (Followers: 38)
Anuario Facultad de Ciencias Económicas y Empresariales     Open Access   (Followers: 2)
Applied Developmental Science     Hybrid Journal   (Followers: 3)
Applied Economics     Hybrid Journal   (Followers: 44)
Applied Economics Letters     Hybrid Journal   (Followers: 30)
Applied Economics Quarterly     Full-text available via subscription   (Followers: 11)
Applied Financial Economics     Hybrid Journal   (Followers: 27)
Applied Mathematical Finance     Hybrid Journal   (Followers: 7)
Applied Stochastic Models in Business and Industry     Hybrid Journal   (Followers: 6)
Arab Economic and Business Journal     Open Access   (Followers: 4)
Archives of Business Research     Open Access   (Followers: 6)
Arena Journal     Full-text available via subscription   (Followers: 1)
Argomenti. Rivista di economia, cultura e ricerca sociale     Open Access   (Followers: 4)
ASEAN Economic Bulletin     Full-text available via subscription   (Followers: 6)
Asia Pacific Business Review     Hybrid Journal   (Followers: 8)
Asia Pacific Journal of Human Resources     Hybrid Journal   (Followers: 317)
Asia Pacific Journal of Innovation and Entrepreneurship     Open Access  
Asia Pacific Viewpoint     Hybrid Journal  
Asia-Pacific Journal of Business Administration     Hybrid Journal   (Followers: 5)
Asia-Pacific Journal of Operational Research     Hybrid Journal   (Followers: 3)
Asia-Pacific Management and Business Application     Open Access   (Followers: 1)
Asian Business Review     Open Access   (Followers: 3)
Asian Case Research Journal     Hybrid Journal   (Followers: 1)
Asian Development Review     Open Access   (Followers: 14)
Asian Economic Journal     Hybrid Journal   (Followers: 8)
Asian Economic Papers     Hybrid Journal   (Followers: 7)
Asian Economic Policy Review     Hybrid Journal   (Followers: 4)
Asian Journal of Accounting and Governance     Open Access   (Followers: 3)
Asian Journal of Business Ethics     Hybrid Journal   (Followers: 9)
Asian Journal of Social Sciences and Management Studies     Open Access   (Followers: 7)
Asian Journal of Sustainability and Social Responsibility     Open Access   (Followers: 2)
Asian Journal of Technology Innovation     Hybrid Journal   (Followers: 8)
Asian-pacific Economic Literature     Hybrid Journal   (Followers: 6)
AStA Wirtschafts- und Sozialstatistisches Archiv     Hybrid Journal   (Followers: 5)
ATA Journal of Legal Tax Research     Hybrid Journal   (Followers: 4)
Atlantic Economic Journal     Hybrid Journal   (Followers: 11)
Australasian Journal of Regional Studies, The     Full-text available via subscription   (Followers: 1)
Australian Cottongrower, The     Full-text available via subscription   (Followers: 1)
Australian Economic Papers     Hybrid Journal   (Followers: 35)
Australian Economic Review     Hybrid Journal   (Followers: 3)
Australian Journal of Maritime and Ocean Affairs     Hybrid Journal   (Followers: 9)
Balkan Region Conference on Engineering and Business Education     Open Access   (Followers: 1)
Baltic Journal of Real Estate Economics and Construction Management     Open Access   (Followers: 2)
Banks in Insurance Report     Hybrid Journal   (Followers: 1)
BBR - Brazilian Business Review     Open Access   (Followers: 4)
Benchmarking : An International Journal     Hybrid Journal   (Followers: 10)
Benefit : Jurnal Manajemen dan Bisnis     Open Access   (Followers: 1)
BER : Consumer Confidence Survey     Full-text available via subscription   (Followers: 3)
BER : Economic Prospects : An Executive Summary     Full-text available via subscription  
BER : Economic Prospects : Full Survey     Full-text available via subscription   (Followers: 1)
BER : Intermediate Goods Industries Survey     Full-text available via subscription   (Followers: 1)
BER : Manufacturing Survey : Full Survey     Full-text available via subscription   (Followers: 1)
BER : Motor Trade Survey     Full-text available via subscription  
BER : Retail Sector Survey     Full-text available via subscription   (Followers: 1)
BER : Retail Survey : Full Survey     Full-text available via subscription   (Followers: 1)
BER : Survey of Business Conditions in Building and Construction : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Manufacturing : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Retail : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Trends : Full Survey     Full-text available via subscription   (Followers: 1)
BER : Wholesale Sector Survey     Full-text available via subscription  
Berkeley Business Law Journal     Free   (Followers: 9)
Beykent Üniversitesi Sosyal Bilimler Dergisi     Open Access  
Bio-based and Applied Economics     Open Access   (Followers: 1)
Biodegradation     Hybrid Journal   (Followers: 1)
Biology Direct     Open Access   (Followers: 7)
Bitlis Eren Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Akademik İzdüşüm Dergisi     Full-text available via subscription  
BizInfo (Blace) Journal of Economics, Management and Informatics     Open Access  
Black Enterprise     Full-text available via subscription  
Board & Administrator for Administrators only     Hybrid Journal  
Boletim Técnico do Senac     Open Access  
Border Crossing : Transnational Working Papers     Open Access   (Followers: 4)
Briefings in Real Estate Finance     Hybrid Journal   (Followers: 5)
British Journal of Industrial Relations     Hybrid Journal   (Followers: 38)
Brookings Papers on Economic Activity     Open Access   (Followers: 49)
Brookings Trade Forum     Full-text available via subscription   (Followers: 3)
BRQ Business Research Quarterly     Open Access   (Followers: 2)
Building Sustainable Legacies : The New Frontier Of Societal Value Co-Creation     Full-text available via subscription   (Followers: 1)
Bulletin of Economic Research     Hybrid Journal   (Followers: 16)
Bulletin of Geography. Socio-economic Series     Open Access   (Followers: 5)
Bulletin of Indonesian Economic Studies     Hybrid Journal   (Followers: 3)
Bulletin of the Dnipropetrovsk University. Series : Management of Innovations     Open Access   (Followers: 1)
Business & Entrepreneurship Journal     Open Access   (Followers: 19)
Business & Information Systems Engineering     Hybrid Journal   (Followers: 5)
Business & Society     Hybrid Journal   (Followers: 10)
Business : Theory and Practice / Verslas : Teorija ir Praktika     Open Access   (Followers: 1)
Business and Economic Research     Open Access   (Followers: 7)
Business and Management Horizons     Open Access   (Followers: 12)
Business and Management Research     Open Access   (Followers: 19)
Business and Management Studies     Open Access   (Followers: 12)
Business and Professional Communication Quarterly     Hybrid Journal   (Followers: 7)
Business and Society Review     Hybrid Journal   (Followers: 5)
Business Economics     Hybrid Journal   (Followers: 13)
Business Ethics Quarterly     Full-text available via subscription   (Followers: 14)
Business Ethics: A European Review     Hybrid Journal   (Followers: 18)
Business Horizons     Hybrid Journal   (Followers: 9)
Business Information Review     Hybrid Journal   (Followers: 14)
Business Management and Strategy     Open Access   (Followers: 41)
Business Research     Hybrid Journal   (Followers: 2)
Business Strategy and the Environment     Hybrid Journal   (Followers: 13)
Business Strategy Review     Hybrid Journal   (Followers: 7)
Business Strategy Series     Hybrid Journal   (Followers: 6)
Business Systems & Economics     Open Access   (Followers: 2)
Business Systems Research Journal     Open Access   (Followers: 5)
Business, Economics and Management Research Journal : BEMAREJ     Open Access  
Business, Management and Education     Open Access   (Followers: 17)
Business, Peace and Sustainable Development     Full-text available via subscription   (Followers: 3)
Business: Theory and Practice     Open Access  
Bustan     Hybrid Journal  
Cadernos EBAPE.BR     Open Access   (Followers: 1)
Cambridge Journal of Economics     Hybrid Journal   (Followers: 65)
Cambridge Journal of Regions, Economy and Society     Hybrid Journal   (Followers: 11)
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration     Hybrid Journal   (Followers: 1)
Canadian Journal of Economics/Revue Canadienne d`Economique     Hybrid Journal   (Followers: 34)
Canadian journal of nonprofit and social economy research     Open Access   (Followers: 3)
Capitalism Nature Socialism     Hybrid Journal   (Followers: 18)
Cappadocia Academic Review     Open Access  
Case Studies in Business and Management     Open Access   (Followers: 10)
CBU International Conference Proceedings     Open Access   (Followers: 3)
Central European Business Review     Open Access   (Followers: 1)
Central European Journal of Operations Research     Hybrid Journal   (Followers: 5)
Central European Journal of Public Policy     Open Access   (Followers: 2)
CESifo Economic Studies     Hybrid Journal   (Followers: 18)
Chain Reaction     Full-text available via subscription  
Challenge     Full-text available via subscription   (Followers: 4)
China & World Economy     Hybrid Journal   (Followers: 16)
China : An International Journal     Full-text available via subscription   (Followers: 18)
China Economic Journal: The Official Journal of the China Center for Economic Research (CCER) at Peking University     Hybrid Journal   (Followers: 13)
China Economic Review     Hybrid Journal   (Followers: 11)
China Finance Review International     Hybrid Journal   (Followers: 5)
China Nonprofit Review     Hybrid Journal   (Followers: 3)
China perspectives     Open Access   (Followers: 12)
Chinese Economy     Full-text available via subscription  
Ciência & Saúde Coletiva     Open Access   (Followers: 2)
Ciencia Sociales y Económicas     Open Access  
CLIO América     Open Access   (Followers: 1)
Cliometrica     Hybrid Journal   (Followers: 4)
COEPTUM     Open Access  
Community Development Journal     Hybrid Journal   (Followers: 27)
Compensation & Benefits Review     Hybrid Journal   (Followers: 7)
Competition & Change     Hybrid Journal   (Followers: 11)
Competitive Intelligence Review     Hybrid Journal   (Followers: 2)
Competitiveness Review : An International Business Journal incorporating Journal of Global Competitiveness     Hybrid Journal   (Followers: 5)
Computational Economics     Hybrid Journal   (Followers: 9)
Computational Mathematics and Modeling     Hybrid Journal   (Followers: 8)
Computer Law & Security Review     Hybrid Journal   (Followers: 17)
Computers & Operations Research     Hybrid Journal   (Followers: 12)
Construction Innovation: Information, Process, Management     Hybrid Journal   (Followers: 14)
Contemporary Wales     Full-text available via subscription   (Followers: 1)
Contributions to Political Economy     Hybrid Journal   (Followers: 5)
Corporate Communications An International Journal     Hybrid Journal   (Followers: 7)
Corporate Philanthropy Report     Hybrid Journal   (Followers: 3)
Corporate Reputation Review     Hybrid Journal   (Followers: 5)
Creative and Knowledge Society     Open Access   (Followers: 9)

        1 2 3 4 5 6 7 | Last

Journal Cover
Business Research
Number of Followers: 2  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 2198-3402 - ISSN (Online) 2198-2627
Published by Springer-Verlag Homepage  [2352 journals]
  • Drivers of seasonal return patterns in German stocks
    • Authors: Michael Weigerding; Michael Hanke
      Pages: 173 - 196
      Abstract: Using a data set of German stocks that includes the financial crisis, this paper identifies market liquidity as the main driver of return seasonality. In comparison, the economic significance of order flow imbalance is markedly weaker. Applying panel regressions and controlling for unobserved effects, we investigate the effects of both variables simultaneously, together with dummies for calendar effects. US macroeconomic news announcements, which have been identified as one driver of return seasonality in previous studies using non-US data, are of little importance for our data set of German stocks.
      PubDate: 2018-02-01
      DOI: 10.1007/s40685-017-0060-0
      Issue No: Vol. 11, No. 1 (2018)
       
  • Do we work hard or are we just great' The effects of organizational
           pride due to effort and ability on proactive behavior
    • Authors: Prisca Brosi; Matthias Spörrle; Isabell M. Welpe
      Abstract: This study derives a conceptual framework for examining parallel and differential influences of organizational pride in employees’ efforts versus abilities on proactivity. Data from a field survey (N = 1218) confirm our theoretical model. Organizational pride in employees’ efforts and organizational pride in employees’ abilities both had positive indirect effects on proactive behaviors via affective organizational commitment. Yet, whereas organizational pride in employees’ efforts additionally had a direct positive effect on individual and team member proactivity, organizational pride in employees’ abilities showed a direct negative effect on proactive behaviors for the self, the team, and the organization including a behavioral measurement of employees’ provision of ideas for improvement. These findings contribute to the nascent literature on organizational pride by indicating towards employees as source of organizational pride, highlighting potential negative effects of organizational pride, and introducing the differentiation between employees’ efforts and abilities.
      PubDate: 2018-01-29
      DOI: 10.1007/s40685-018-0061-7
       
  • Editorial
    • Authors: Thomas Gehrig
      Pages: 1 - 2
      PubDate: 2017-06-01
      DOI: 10.1007/s40685-017-0048-9
      Issue No: Vol. 10, No. 1 (2017)
       
  • Are you attracted' Do you remain' Meta-analytic evidence on
           flexible work practices
    • Authors: Greta Onken-Menke; Stephan Nüesch; Claudia Kröll
      Abstract: This meta-analysis investigates how three flexible work practices (FWPs), flexible work schedules, telecommuting and sabbaticals, affect organizational attractiveness for job seekers and the organizational attachment of employees. Based on organizational support theory and signalling theory, we conjecture that anticipated organizational support mediates the positive relationship between FWPs and organizational attractiveness. Applying the conservation of resources theory, we suggest that FWPs increase organizational attachment through increased perceived autonomy. Meta-analytic results based on 68 studies and 52,738 employees indicate that FWPs increase organizational attractiveness and that the positive effects are partially mediated by anticipated organizational support. We also find that flexible work schedules and sabbaticals (but not telecommuting) increase organizational commitment and that all FWPs decrease turnover intention. Furthermore, these effects are partially mediated by perceived autonomy. Implications for practice and future research are discussed.
      PubDate: 2017-12-07
      DOI: 10.1007/s40685-017-0059-6
       
  • Tax certified individual auditors and effective tax rates
    • Authors: Lisa Frey
      Abstract: This study examines how the appointment of tax certified individual auditors is associated with reported effective tax rates of corporate clients. The study uses a unique German institutional setting which makes it possible to track individual auditors that are also certified tax consultants and sign the audit opinion. Empirical results indicate that tax certified individual engagement partners are associated with higher effective tax rates. Further tests reveal that this association also exists for individual parent company financial statements and that it is stronger when tax confirmation services are provided to the audit client. My findings enhance the understanding of the role of individual auditors.
      PubDate: 2017-12-07
      DOI: 10.1007/s40685-017-0057-8
       
  • Effects of a capital gains tax on asset pricing
    • Authors: Marko Volker Krause
      Abstract: I extend and generalize the work of Kruschwitz and Löffler (BuR—Business Research 2(2):171–178, 2009). I find that, with a zero risk-free rate, the implicit price of capital gains tax payments is zero. I provide conditions in stochastic discount factor language when a capital gains tax has no effect on asset prices for the case of a zero risk-free rate. A sufficient condition for price equality with a zero risk-fee rate is that agents consume the same in any state with and without taxes. Equilibria exist that guarantee equal consumptions, and they imply the same portfolio rules that Kruschwitz and Löffler (BuR—Business Research 2(2):171–178, 2009) find for the CAPM. Furthermore, for an exogenous non-zero risk-free rate, I show that exponential utility with multivariate normal payoffs, as well as linear marginal utility leave prices unchanged. Equilibrium prices are independent of capital gains taxes in those cases. However, total wealth of agents is different between the tax and the no-tax economy.
      PubDate: 2017-12-04
      DOI: 10.1007/s40685-017-0058-7
       
  • The impact of the package opening process on product returns
    • Authors: Wenyan Zhou; Oliver Hinz; Alexander Benlian
      Abstract: High product return rates are an increasingly pressing challenge for many e-retailers around the world. To address this problem, this paper offers a new perspective by focusing on the critical moment of the package-opening process. Going beyond previous research, which has primarily focused on website information and the product itself, we examine the effects of the outside appearance (i.e., the color of the delivery package) and contents of the delivery package (i.e., extra gifts, coupons, and preprinted return labels) on consumer return behavior. Our findings across two experimental studies and an observational field study show that a well-considered package design, including colorful packaging and extra gifts, significantly lowers consumers’ return intentions and actual returns. We also explore the process of consumers’ cognitive–affective reactions after opening a delivery package. During this two-stage reaction process, pleasure plays a crucial role in the consumer’s return choice.
      PubDate: 2017-11-27
      DOI: 10.1007/s40685-017-0055-x
       
  • Stakeholder influences and risks in sustainable supply chain management: a
           comparison of qualitative and quantitative studies
    • Authors: Tobias Rebs; Marcus Brandenburg; Stefan Seuring; Margarita Stohler
      Abstract: Stakeholder influences on sustainable supply chain management (SSCM) are of increasing interest for researchers to take into account economic, environmental, and social risks. While extant literature on stakeholder influences or risks in SSCM concentrates on selected issues, a comprehensive review of both stakeholder and risk constructs is missing. Hence, this paper examines stakeholder influences and risks in SSCM, as addressed by conceptual frameworks, empirical studies, and formal models to shed light on the trends and gaps in qualitative and quantitative SSCM research. Based on a content analysis of systematically selected journal publications, the commonalities and differences between the research designs are identified. The findings suggest that the integration of economic risks prevails over the consideration of environmental and social risks. Qualitative studies frequently focus on customers or multiple stakeholders that trigger SSCM and relate to supply, demand, and particularly reputational risks. In contrast, quantitative models rather concentrate on formalizing governmental triggers and operational risks. Thus, mutual stimuli between conceptual, empirical, and model-based SSCM research and their implications for future research directions are derived.
      PubDate: 2017-11-15
      DOI: 10.1007/s40685-017-0056-9
       
  • Taxation and agency conflicts between firm owners and managers: a review
    • Authors: Thomas Bauer; Thomas Kourouxous; Peter Krenn
      Abstract: When analyzing the influence of taxation on agency conflicts between firm owners and managers, one can draw on theoretical principal–agent literature from various research fields. In recent years, this interdisciplinary research has grown significantly covering research with regards to optimal compensation, investment decisions, tax avoidance and transfer pricing while analyzing the effects of corporate income taxes, wage taxes, bonus taxes and shareholder taxes. Our paper provides a comprehensive review of analytical literature that studies the influence of taxation on agency conflicts between firm owners and managers. Above and beyond summarizing research findings, we discuss how taxes are commonly implemented in agency models, derive empirical predictions, and identify research gaps for future tax research.
      PubDate: 2017-10-28
      DOI: 10.1007/s40685-017-0054-y
       
  • Discontinuous financing based on market values and the value of tax
           shields
    • Authors: Sven Arnold; Alexander Lahmann; Bernhard Schwetzler
      Abstract: The tax shield as present value of debt-related tax savings plays an important role in firm valuation. Driving the risk of future debt levels, the firm’s strategy to adjust the absolute debt level to future changes of the firm value, labeled as (re-) financing policy, affects the value of tax shields. Standard discounted cash flow (DCF) models offer two simplified (re-) financing policies originally introduced by Modigliani and Miller (MM) as well as Miles and Ezzell (ME). In this paper, we introduce a discontinuous financing policy that refers to the refinancing intervals, i.e., the maturity structure of the firm’s debt. By deriving APV valuation and beta unlevering equations that allow for this discontinuous financing policy, we show the MM and ME policies to be special cases of the proposed extension. While we document the effect of discontinuous refinancing to be economically significant when leverage is high and refinancing periods are extremely long, our results suggest that for low-levered firms with short refinancing periods, the traditional continuous refinancing-based models (like the Miles/Ezzell model) produce relatively robust value estimates. Combining capital structure and maturity structure choices, our model extends the set of feasible financing policies in DCF valuation models.
      PubDate: 2017-10-24
      DOI: 10.1007/s40685-017-0053-z
       
  • What do we really know about corporate hedging' A meta-analytical
           study
    • Authors: Jerome Geyer-Klingeberg; Markus Hang; Andreas W. Rathgeber; Stefan Stöckl; Matthias Walter
      Abstract: This paper employs meta-analysis to aggregate and systematically analyze the mixed empirical evidence on the determinants of corporate hedging reported in 132 previously published studies covering data from more than 73,000 firms. Among the fourteen proxy variables analyzed by multivariate meta-analysis, three variables emerge as reliable explanatory factors for corporate hedging decisions supporting the bankruptcy and financial distress hypothesis: dividend yield (positive sign), liquidity (negative sign), and firm size (positive sign). Moreover, for tax-loss carry forwards (positive sign) and research and development (positive sign), our findings indicate a weak impact on corporate hedging behavior reflecting tax reasons, the coordination between financing and investment, and agency conflicts between shareholders and debtholders. Regarding the asymmetric information and agency conflicts of equity hypothesis, we find no explanatory power. The further analysis of heterogeneity via meta-regression reveals several factors that determine the mixed empirical evidence reported in previous studies. First, the results indicate that studies analyzing firms from North America report, on average, a lower impact of leverage on the corporate hedging decision. Moreover, studies examining more recent data samples tend to find a weaker relation between tangible assets and hedging, R&D and hedging, respectively. Overall, our results encourage scientific research to put more emphasis on finer-grained examinations of hedging variations and to discover rationales of corporate hedging extending classical financial theories.
      PubDate: 2017-08-09
      DOI: 10.1007/s40685-017-0052-0
       
  • The effects of accounting standards on the financial reporting properties
           of private firms: evidence from the German Accounting Law Modernization
           Act
    • Authors: Julia Zicke; Florian Kiy
      Abstract: This study investigates whether the 2009 German Accounting Law Modernization Act has affected the reporting and accounting practices of German private firms. In reforming German accounting standards, numerous accounting options were deleted, several accounting rules were transferred from IFRS to German GAAP with some modifications, and disclosure requirements were extended. In our analysis, we examine the changes in financial reporting and their effects on disclosures. We use four financial reporting property measures: discretionary accruals, the correlation between operating cash flow and accruals, the persistence of earnings, and the predictability of earnings. The results reveal no change across all financial reporting properties. Examining disclosure compliance for capitalized development costs and other provisions reveals substantial variation in compliance.
      PubDate: 2017-08-07
      DOI: 10.1007/s40685-017-0051-1
       
  • Relevance versus reliability of accounting information with unlimited and
           limited commitment
    • Authors: Barbara Schöndube-Pirchegger; Jens Robert Schöndube
      Abstract: We consider a two-period LEN-type agency problem. The principal needs to implement one out of two accounting systems. One emphasizes relevance, the other reliability. Both systems produce identical inter-temporally correlated signals. The relevant system reports an accounting signal in the period in which it is produced. The reliable system reports a more precise signal, but with a one period delay. Accounting information is contractible only if it is reported within the two-period horizon of the game. Accordingly, accounting information produced in the second period becomes uncontractible with the reliable system in place. Non-accounting information needs to be used for contracting to provide any second period incentives at all. We derive optimal compensation contracts in a full and in a limited commitment setting. With full commitment, the reliable system trades-off more precise first and less precise second-period contractible information, as compared to the relevant system. If the reduction of noise in the accounting signals is strong and the distortion in the non-accounting measure is weak, the reliable system is preferred. With limited commitment we identify a similar trade-off if intertemporal correlation of the signals is negative. If it is positive, this trade-off might reverse: The reliable system is possibly preferred if noise reduction is small and the non-accounting measure is heavily distorted. Noisiness in performance measures then serves as a commitment device. It reduces otherwise overly high powered incentives and thus benefits the principal.
      PubDate: 2017-07-05
      DOI: 10.1007/s40685-017-0050-2
       
  • Evaluation of the evolution of green management with a Kuhnian perspective
    • Authors: Samet Güner
      Abstract: The purpose of this study is to examine the evolutionary development of green management. To do this, first, Kuhn’s “paradigm” concept has been operationalized and the development stages of a movement of thought were determined. The green management is then scrutinized within the framework of each of these stages and the impacts of environmentalism in management research and practice are examined. It is concluded that the crises in normal science, existence of a scientific community, the presence of common beliefs, values and norms, and the increasing anomalousness are strengths of the green management. However, the core position of profit orientation in business strategies weakens the green management.
      PubDate: 2017-06-27
      DOI: 10.1007/s40685-017-0049-8
       
  • Insolvency administrator’s incentives and the tradeoff between creditor
           satisfaction and efficiency in bankruptcy procedures
    • Authors: Matthias Frieden; Stefan Wielenberg
      Abstract: An insolvency administrator replaces the manager of an insolvent firm to devise and organize a liquidation or reorganization plan in the creditors’ interest. In the course of the process, the insolvency administrator presents the most favourable option from his perspective, and the creditors choose to accept or reject this plan. Conflicts of interest arise because the insolvency administrator, as the better-informed party, considers in his proposal liability risks and reputational issues that are beyond the creditors’ scope. We model this conflict as a Bayesian game and find that, under those compensation schemes typically used in real-world regulations, optimal creditor satisfaction and efficient decisions concerning the economic future of the insolvent firm will never be achieved simultaneously.
      PubDate: 2017-06-03
      DOI: 10.1007/s40685-017-0047-x
       
  • Research diversity in accounting doctoral education: survey results from
           the German-speaking countries
    • Authors: Christoph Pelger; Markus Grottke
      Abstract: US positivistic accounting research is increasingly perceived as having come to be the point of reference for researchers in other countries, including the German-speaking area where formerly normative research was widespread. In this paper, we present the survey results retrieved from 293 doctoral students in accounting in 2009, a period of transition in which old and new approaches to doctoral education co-existed. Specifically, doctoral students were subject to institutional change in the form of more structured doctoral studies and a focus on internationalisation and attempts to publish in academic journals. We find that at that time there was diversity with regard to both the set of accounting journals considered by doctoral students and the methods employed by the latter in their dissertations. With respect to research methods, we show that factors of the institutional setting reflecting a more structured and international approach to doctoral education are in particular linked to empirical quantitative, and to a lesser extent qualitative, research.
      PubDate: 2017-05-04
      DOI: 10.1007/s40685-017-0046-y
       
  • The theory contribution of case study research designs
    • Authors: Hans-Gerd Ridder
      Abstract: The objective of this paper is to highlight similarities and differences across various case study designs and to analyze their respective contributions to theory. Although different designs reveal some common underlying characteristics, a comparison of such case study research designs demonstrates that case study research incorporates different scientific goals and collection and analysis of data. This paper relates this comparison to a more general debate of how different research designs contribute to a theory continuum. The fine-grained analysis demonstrates that case study designs fit differently to the pathway of the theory continuum. The resulting contribution is a portfolio of case study research designs. This portfolio demonstrates the heterogeneous contributions of case study designs. Based on this portfolio, theoretical contributions of case study designs can be better evaluated in terms of understanding, theory-building, theory development, and theory testing.
      PubDate: 2017-02-16
      DOI: 10.1007/s40685-017-0045-z
       
  • Citation metrics as an additional indicator for evaluating research
           performance? An analysis of their correlations and validity
    • Authors: Marcel Clermont; Alexander Dirksen; Barbara Scheidt; Dirk Tunger
      Abstract: This paper investigates the potential expansion of an indicator set for research performance evaluation to include citations for the mapping of research impact. To this end, we use research performance data of German business schools and consider the linear correlations and the rank correlations between publication-based, supportive, and citation-based indicators. Furthermore, we compare the business schools in partial ratings of the relative indicators amongst themselves and with those business schools that are classified in other studies as being strong in research and/or reputable. Only low correlations are found between the citation metrics and the other indicator types. Since citations map research outcome, this is an expected result in terms of divergent validity. Amongst themselves, the citation metrics display high correlations, which, in accordance with the convergent validity, shows that they can represent research outcome. However, this does not apply to the J-factor, which is a journal-based normalizing citation metric.
      PubDate: 2017-02-10
      DOI: 10.1007/s40685-017-0044-0
       
  • Tie heterogeneity in networks of interlocking directorates: a
           cost–benefit approach to firms’ tie choice
    • Authors: Julia Brennecke; Olaf N. Rank
      Abstract: This conceptual paper investigates the creation of interlocking directorate ties focusing on firms’ choice between sent, received, and undirected board interlocks. Drawing on a framework on the benefits of board interlocks stemming from resource dependence theory, we synthesize prior research on the consequences of interlocks and demonstrate that each type of interlock goes along with unique knowledge-based, social influence-related, and institutional benefits and costs. We frame tie choice as a strategic decision based on a cost–benefit analysis and suggest that the tie-specific benefits and costs lead to the three types of ties not being equal alternatives. Appealing to specific motives for tie creation, these benefits and costs influence firms’ choice between the three types of interlocks. Our synthesis and cost–benefit analysis contribute to prior research by shedding light on the role of tie heterogeneity as a driver of tie creation as opposed to a factor causing firm-level outcomes. By focusing on content of ties, we extend the typically purely structural research on interlocking directorate networks. We suggest directions for future research and discuss possibilities to empirically validate our propositions on how tie-specific opportunities and constraints will affect tie choice.
      PubDate: 2016-12-21
      DOI: 10.1007/s40685-016-0042-7
       
  • Erratum to: Modeling sequential R&D investments: a binomial
           compound option approach
    • Authors: Bastian Hauschild; Daniel Reimsbach
      PubDate: 2016-08-26
      DOI: 10.1007/s40685-016-0038-3
       
 
 
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