Wirtschaftsprognosen sollen die Unsicherheit bezüglich der zukünftigen wirtschaftlichen Entwicklung mindern und Planungsprozesse von Regierungen und Unternehmen unterstützen. Empirische Studien bescheinigen ihnen jedoch in aller Regel ein unbefriedigendes Qualitätsniveau. Auf der Suche nach...

In the past two decades, cross country portfolio holdings of a large variety of assets have risen sharply. This has created an important role for changes in asset prices, or valuation effects". This dissertation examines the role of valuation effects in a country's external adjustment. The...

In this paper we investigate if there was a causal effect of changes in current and 'permanent' income on the health of East Germans in the years following reunification. Reunification was completely unanticipated and therefore can be seen as providing some exogenous variation, which resulted in...

We examine whether firms that capitalize a higher proportion of their underlying intangible assets have higher analyst following, lower dispersion of analysts’ earnings forecasts and more accurate earnings forecasts relative to firms that capitalize a lower proportion. Under Australian...

Financial analysts are considered inefficient when they do not fully incorporate relevant information into their forecasts. In this dissertation, I investigate differences in the observable efficiency of analysts' earnings forecasts between firms that consistently meet or exceed analysts'...

The fact that the literature tends to find optimistic biases in national fiscal projections has led to a growing recognition in the academic and policy arenas of the need for independent forecasts in the fiscal domain, prepared by independent agencies, such as the European Commission in the case...

A view has developed among some retailing researchers that financial markets have, from time to time, unduly favoured the retail sector in the UK. It is argued that this has been exploited, to some extent, by retailing companies using creative, but legitimate, accounting techniques to enhance...

Die Arbeit untersucht den Einfluss der Genehmigung von Medikamenten durch die amerikanische Zulassungsbehörde FDA (Food and Drug Administration) auf den Aktienkurs der Antrag stellenden Aktiengesellschaft. Dabei werden Genehmigungen von wichtigen pharmazeutischen und biopharmazeutischen...

This paper assesses the influence of an adoption of IAS/IFRS or US GAAP on the financial analysts’ forecast accuracy in a homogenous institutional framework. Our findings suggest that the forecast accuracy is higher for estimates based on IFRS or US GAAP data than for forecasts based on German...