Empirical studies on management accounting in SME (small and medium enterprises) have shown a wide range of different implementations of management accounting in such enterprises. Contingency theory is often used to explain this varienty.

The management of the value of a firm requires the identification of important value drivers. The main objective of the paper is to find out whether value based management (e.g. shareholder value oriented management) has to take into account environmental aspects. In order to answer this...

We examine here the risk-adjusted performance of European mutual funds offered in Germany which invest in euro-denominated investment grade corporate bonds. The funds are evaluated employing a single-index model and several multi-index and asset-class-factor models. In order to account for the...

This chapter, on the persistence of corporate profits in in Germany, is organized as follows: Section I presents the empirical model and describes the econometrics for the stimation of the parameters. Section II introduces the data sample, shich consists of profit data form 299 German stock...

Objective of this paper is to enhance the understanding of modelling jumpsand to analyse the model risk based on the jump component in electricity markets.We provide a common modelling framework that allows to incorporate the main jumppatterns observed in electricity spot prices and compare the...

CAT bonds are of significant importance in the field of alternative risk transfer. Since themarket of CAT bonds is not complete, the application of an appropriate pricing model is of high relevance.We apply different premium calculation models in order to compare them with regard to...

This paper analyzes and quantifies the idea of model risk in the environment of internal modelbuilding. We define various types of model risk including estimation risk, model risk in distributionand model risk in functional form. By the quantification of these concepts we analyzethe impact of...

Large shareholders may play an important role for firm performance and policies, butidentifying this empirically presents a challenge due to the endogeneity of ownershipstructures. We develop and test an empirical framework which allows us to separateselection from treatment effects of large...

We describe a new and flexible framework for modeling school effects. Like previouswork in this area, we introduce an empirical model that evaluates school performance onthe basis of student level test-score gains. Unlike previous work, however, we introducea flexible model that relates...