This study analyses the impact of a high-profile crime event on perceived public safety. At the 2015 New Year's Eve celebrations in Cologne (NYE), Germany, refugees allegedly committed over a thousand crimes, ranging from theft to sexual assault. The widespread media coverage of these incidents...

Die Integration der beiden Konzernsäulen (Strategic Business Units) T‐Com und TOnlineim Jahr 2006 und die damit verbundene Notwendigkeit, die in denGeschäftsbereichen unabhängig voneinander gepflegten Daten zusammenzuführen,nutzte die Deutsche Telekom AG zur Etablierung eines präventiven...

One of the challenges in manufacturing companies nowadays is to enableappropriate IT support of production planning and execution. Integrated solutionsneed to cover company‐wide and even cross‐company business processes (fromorder receipt to product distribution) and at the same time live up...

Der Bereich der Transportlogistik stellt hohe Anforderungen an die Integration verschiedener Geschäftspartner zur Sicherstellung von Qualität und Pünktlichkeit der Dienstleistung im Sinne des Kunden: Industrieunternehmen müssen mit Spediteuren Waren und Informationen und beide Transportdaten...

Die Ausrichtung auf das internationale Transitgeschäft im Zuge der Marktöffnung im Schienengüterverkehr führte bei der SBB Cargo zunehmend zu der Einsicht, dass Qualität und Verfügbarkeit der Stammdaten nicht mehr den Anforderungen des Unternehmens (insbesondere für das finanzielle...

In this paper we develop a methodology to test for changes in the strength of market discipline in the corporate bond market. Based on the relationship between equities and bonds of a firm, our method examines the relationship between equity implied information about default probabilities and...

The report investigates how structural features of, and cyclical developments in, residential real estate (RRE) markets in the EU may affect financial stability and how related risks can be addressed. The report is structured in four main sections covering: (i) an analysis of the structural...

In this paper, we propose a novel approach on how to estimate systemic risk and identify its key determinants. For all US financial companies with publicly traded equity options, we extract their option-implied value-at-risks (VaRs) and measure the spillover effects between individual company...

This paper presents a framework for estimating losses in the residential real estate mortgage portfolios of German banks. We develop an EL model where LGD estimates are based on current collateral values and PD dynamics are estimated using a structural PVAR approach. We confirm empirically that...

We design a novel test for changes in market discipline based on the relation between firm-specific risk, credit spreads, and equity returns. We use our method to analyze the evolution of bailout expectations during the recent financial crisis. We find that bailout expectations peaked in...