Deutschlands Chancen im Handel mit Dienstleistungen

Der Dienstleistungssektor hat in den vergangenen Jahrzehnten erheblich an Bedeutung gewonnen. Wo ist Deutschland im internationalen Dienstleistungshandel einzuordnen? Welche Faktoren bestimmen das Muster des internationalen Dienstleistungshandels? Wer kann von einer ?ffnung der Dienstleistungsm?rkte profitieren?     

Financial Disclosure in the Travel and Leisure Industry

This study explores the determinants of Internet financial disclosure in the travel and leisure industry. Studying the case of the firms that are listed in the London Stock Exchange, we employ the generalized method of moments in order to investigate the cross‐sectional variation in the quantity of financial information, which is disclosed on corporate websites of travel and leisure firms. We find that disclosure is positively associated with corporate size, financial leverage, concentrated ownership, dual listing and profitability. We also discover that profitability is not only a determinant of financial disclosure in the travel and leisure industry but also its consequence: More profitable firms yield more requests for transparency among their stakeholders, and they also have the necessary resources to respond to these requests. Copyright © 2016 John Wiley & Sons, Ltd.     

Project‐as‐practice: In search of project management research that matters

Research on projects is not only an immature field of research, but it is also insubstantial when it comes to understanding what occurs in projects. This article contributes to making project management research matter to the academic as well as to the practitioner by developing a project‐as‐practice approach, in alignment with the ongoing debate in social science research. The article outlines a framework and argues that there are two major challenges to the researcher and also suggests how these challenges can be met. Underlying notions of the practice approach are outlined to ensure a development of the project‐as‐practice approach that makes project management research matter!     

On the Endogeneity of Market Power in Emissions Markets

Previous approaches on market power in emissions trading markets rely on the existence of a subset of competitive players. In this paper, I relax this assumption and treat market power as an endogenous concept which depends on the initial allocation of allowances. All parties realize their potential influence on the market price. This approach allows a clear comparative statics analysis of the impact of the allowance allocation on the efficiency of markets. I provide specific examples that illustrate the implications that stem from the proposed modeling approach relative to previous models.     

10 Jahre EZB – Selbstbewusstsein gerechtfertigt

Am 1. Juni 1998 nahm die Europ?ische Zentralbank ihre T?tigkeit auf. In den zehn Jahren ihres Bestehens hatte sie bereits viele Herausforderungen zu bew?ltigen. Wie ist ihre Handlungsweise in der aktuellen Finanzkrise zu bewerten? Welche Bedeutung kommt der Geldmengensteuerung zu? Inwieweit konnte das Ziel Preisstabilit?t erreicht werden? Dr. Andreas Bley, 42, ist Referent in der Abteilung Volkswirtschaft im Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR).     

PRODUCTIVE GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH

Abstract.  We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. We show that an understanding of the core results and the ensuing contributions can be gained from the study of their respective Euler equations. We argue that the existing literature incorporates many relevant aspects; however, policy recommendations tend to hinge on several knife-edge assumptions. Therefore, future research ought to focus more on idea-based endogenous growth models to check the robustness of policy recommendations. Moreover, the inclusion of hitherto unexplored types of government expenditure, e.g. on the 'rule of law', would be desirable.