Different methods for the translation of financial statements of foreign subsidiaries result in different profit contributions in the consolidated financial statements and accordingly to different amounts of capital maintained as measured in the group's reporting currency. The translation...

In this paper, the role of the Internet as an instrument for investor relations activities is addressed. The empirical study compares the Internet investor relations activities of US, UK and German corporations. A sample comprising the respective country's relevant stock market 100 index (S&P,...

An approach to analyse and quantify the impact of lifestyle factors on current and future energy demand is developed. Thereby not only directly environmentally relevant consumer activities such as car use or heating have been analysed, but also expenditure patterns which induce environmental...

Capacity remuneration mechanisms are a widespread instrument to foster investment. The growing interest in electricity storage raises the question how these mechanisms interact with storage plants. Using a stylized capacity planning model, we demonstrate that an exclusion of storage plants from...

The ECB is a central bank with a high level of transparency. However, it still does not publish voting records or minutes, and it publishes infl ation forecasts only on a quarterly basis. This paper argues that both the credibility and effectiveness of the ECB’s monetary policy could be...

Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumped-hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a capacity planning model to describe the efficient technology...

Optimal age replacement policies for network components such as cables, overhead lines or transformers are usually identified based on gathered knowledge about the state of a component and its stochastic deterioration process. In this context, uncertainty is an important challenge because...

The liberalization of European natural gas markets forces market participants to base their decisions on market prices. For owners and operators of natural gas storage facilities it is therefore necessary to take market prices into account for their decisions. In this framework this paper...

This paper investigates the incentives market participants have in the German electricity balancing mechanism. Strategic over- and undersupply positions are the result of existing stochastic arbitrage opportunities between the spot market and the balancing mechanism. This strategic behavior can...

Integrating large quantities of variable renewable electricity generation remains a political and operational challenge. One of the main obstacles in Europe to installing at least 200 GWs of power from variable renewable sources is how to deal with the insufficient network capacity and the...