Over the last decades, technological progress has brought about a multitude of standardization problems. For instance, compatibility standards ensure the interoperability of goods, which is of decisive importance when users face positive externalities in consumption. Consumers' expectations are...

Die Gestaltung des Wertschöpfungssystems Unternehmen ist die zentrale Aufgabe der Führungskräfte und steht auch im Zentrum des Stakeholdermanagements. Operative und strategische Entscheidungen müssen daher Wirkungen auf die Wertschöpfung und die Legitimitätsbeurteilung der Stakeholder...

During recent years, an increasing number of corporations have decided to raise external capital via markets for hybrid securities. Hybrid securities share characteristics of common stock and straight debt and appear in different forms, such as convertible debt, mandatory convertibles or...

Christian Funke aims at developing a better understanding of a central asset pricing issue: the stock price discovery process in capital markets. Using U.S. capital market data, he investigates the importance of mergers and acquisitions (MA) for stock prices and examines economic links between...

Economic studies which examine the financing patterns of firms, particularly in emerging markets seldom consider the market environment in which they operate. The most recent Asian financial crisis and its exposure of institutional failures in the context of financial sector liberalization show...

Wie signalisieren hochbegabte Bewerber potenziellen Arbeitgebern ihr überdurchschnittliches Talent? Ein prominentes Kriterium ist die Ausbildung, denn Hochschulen lassen sich als Filtereinrichtungen interpretieren, die eine Einteilung von Studierenden in unterschiedliche Qualitätsstufen...

When economists claim that rules are coordinating devices, they do not explain how those rules operate in the reality of organizational life. Rules do not indicate behaviour, since their most important characteristic is their remoteness from the solution. Thus, rules are merely frameworks for...