This paper explores approaches to measure the performance of the internal audit function. Based upon three proposed dimensions of formal internal audit performance - material performance, cost and risk - it uses competence research methodology to characterize and structure internal audit...

Despite the common view that there is inherently a relationship of confliction, it is now impossible to imagine the financing of family-owned enterprises in Germany without the alternative method of Private Equity financing. Based on a survey on Private Equity in family owned companies...

This paper discusses the management of loan commitments (Kreditzusagen). First, we elaborate on the necessary steps to efficiently manage liquidity facilities. In particular, the drawdown pattern of single commitments and a portfolio of such commitments have to be modelled. Based on the drawdown...

Mindestmarge ist der entscheidende Baustein bei der Steuerung des Vertriebs. Im Arbeitsbericht wird eine moderne Margenkalkulation in vier Stufen vogestellt. Dabei beschreibt Mindestmarge I Zins- und Kündigungskosten, Mindestmarge II Ausfallkosen, Mindestmarge III Stückkosten und Mindestmarge...

We collect simple and pragmatic exact formulae for the convexity adjustment of irregular interest rate cash flows as Libor-in-arrears or payments of a swap rate (CMS rate) at an irregular date. The results are compared with the results of an approximative approach available in the popular...

Generally, information provision and certification have been identified as the major economic functions of rating agencies. This paper analyzes whether the watchlist (rating review) instrument has extended the agencies' role towards a monitoring position, as proposed by Boot, Milbourn, and...

The paper analyses the factors influencing the credit spread of denominated bonds and credit default swaps. The regression shows a significant difference of the credit spread of corporate floaters compared to straight bonds. The steepnes of the yield curve leads surprisingly to lower credit...

Der vorliegende Bericht verfolgt das Ziel, die aktuelle Situation der Daten- und Informationsverarbeitung in Banken vor dem Hintergrund der gravierenden Umwälzungen innerhalb der Bankwirtschaft zu skizzieren. Darauf aufbauend sollen Perspektiven entwickelt werden, wie eine zukunftsfähige...