The coming era of the financial executive: A broadened,less specialized role

Because corporate financing is becoming more complex, the role of financial executives is increasing in both importance and complexity. In addition to his traditional function of procuring funds from external sources, the new tasks of the financial executive will include generating funds from internal sources. His job will have to be broadened to include actively managing all of the corporations's major balance sheet items, and the author presents seven key questions a financial executive must consider in facing these new tasks. Thus, his role will be less specialized; it will require a knowledge of and experience with general management. The financial executive will increasingly become directly involved in the strategic issues handled by top management.     

Hedge-Fonds: Risiken für die internationalen Finanzmärkte?

Die Ungleichgewichte auf den internationalen Finanzm?rkten werden von den Finanzministern und Notenbankchefs der Industriel?nder mit zunehmendem Unbehagen betrachtet. In Hinblick auf Hedge-Fonds soll bis zum G-8-Gipfel im Juni dieses Jahres ein Verhaltenskodex erarbeitet werden. Inwieweit k?nnen Hedge-Fonds zur Instabilit?t der Finanzm?rkte beitragen? Welche Strategien zur Krisenvermeidung sollten verfolgt werden? Welche Institutionen sollten aktiv werden? Die Autoren unseres Zeitgespr?chs: Prof. Dr. Ralf-M. Marquardt, 45, lehrt Volkswirtschaftslehre und quantitative Methoden an der FH-Gelsenkirchen, Abteilung Recklinghausen. Prof. Dr. Carsten Hefeker, 43, lehrt Volkswirtschaftslehre, insbesondere Europ?ische Wirtschaftspolitik an der Universit?t Siegen. Prof. Dr. Gunther Schnabl, 40, ist Direktor des Instituts für Wirtschaftspolitik an der Universit?t Leipzig; Andreas Hoffmann, 26, Dipl.-Volkswirt, ist dort wissenschaftlicher Mitarbeiter.     

Beyond budgeting ante portas,ControllingWorld am 31.3. und 1.4.

Neben dem Congress der Controller und Horváths Controller-Forum versucht sich die ControllingWorld von Management Circle als drittes gro?es Treffen der Controller-Community zu etablieren. Es geht nicht so famili?r zu wie in München und auch die Weihe eines Controlling-Papstes wie in Stuttgart fehlt. Aber als Tendenzbarometer hat auch die Bad Homburger ControllingWorld ihren Platz.     

Reply to Professor Yongding Yu

We are indebted to Professor Yu for his careful reading of our paper, and are pleased that he sympathizes with our argument that controls on purely financial capital inflows should not be relaxed so long as world interest rates remain unduly low. We agree that direct ＂real＂ investments into, and increasingly out of, China＇s economy need not be limited. These direct investment flows are now more or less balanced, without threatening a loss of monetary control by the People＇s Bank of China （PBC）.     

Einkommens- und Vermögensverteilung — zu ungleich?

The distribution of income and wealth in Germany grew increasingly unequal until the beginning of the financial crisis. But inequality has not risen in either Germany or Switzerland since 2005. Nevertheless, Germans overestimate inequality. The German gap between reality and perception of inequality is important to investigate, as the subjective assessment of inequality influences redistribution preferences. Rising inequality may damage social stability and democracy, but it is unclear whether economists are able to assess a “proper and just” distribution. Interdependencies are discussed: Does a more equal distribution create negative effects on economic growth? How does Germany rank internationally with regard to distribution? Social mobility rates differ substantially across countries; what are the implications for economic policy?     

The effect of self-confidence and anxiety on risk reduction strategies for an innovative product

This research investigated consumer modes of information seeking as a means of reducing uncertainty for a high risk innovation. Measures of consumers' generalized and specific selfcondidence along with anxiety were taken to study their mediating effect on consumer's tendency to seek any of six information sources. Subjects completed a 20 item behavioral differential designed to measure the tendency to seek different sources. The design used was a 2×2×2 ANOVA. The sample was drawn from a middle, upper middle class, white suburban civic club. The results show that specific self-confidence was the most important variable in explaining the tendency to seek information about a microwave oven. The two most favored information sources were the impersonal independent (Consumer Reports type of magazine) and the subject's own observation and experiences. There was some tendency to use interpersonal sources, but the impersonal independent and observation/experience were favored.     

IV. Bevölkerung und Arbeit

Ohne Zusammenfassung