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Three Essays on Economic Crises

Three Essays on Money and Liquidity

Essays on the Economics of Deception and Debt

Three Essays on Media Content and Financial Markets

Training moral sensitivity through video games: a review of suitable game mechanisms

Description: 

The goal of this study is to support game designers in the selection and implementation of game mechanisms to promote players’ moral sensitivity. A lack of moral sensitivity may lead people to behave unethically, without awareness for their actions’ moral implications. In this study, we conduct a theory-based evaluation of 20 distinct game mechanisms in view of their potential to promote moral sensitivity. Moral sensitivity is thereby operationalized in terms of three learning outcomes: Empathic concern for relevant groups, alertness to values/principles, and awareness for one’s vulnerability to biases. This study suggests that moral sensitivity is best promoted through a careful combination of game mechanisms, addressing all three learning outcomes.

Kryptowährungen bieten Diversifikation

The Pricing of Uncertain Information: From the Lab, to Derivatives Markets, to State-contingent Sovereign Debt

Limits of Arbitrage and Collateral Constraints

How Media Coverage of Corporate Social Irresponsibility Increases Financial Risk Media Coverage of Corporate Social Irresponsibility

Description: 

This article explores the relationship between corporate social irresponsibility (CSI) and financial risk. We posit that media coverage of CSI generates risk by providing conditions that increase the potential for stakeholder sanctions. Through analyzing an international panel of 539 firms during 2008–2013, we find that firms receiving higher CSI coverage face higher financial risk. We show that the reach of the reporting media outlet is a critical condition for this relationship. Once the outlet has a high reach, the severity of CSI coverage is a boundary condition that further reinforces the effect. Our findings complement existing theory about the risk-mitigating effect of corporate social responsibility by illuminating the risk-generating effect of CSI coverage. For executives, these insights suggest complementary strategies for corporate risk management.

The International Diversification of Banks and the Value of Their Cross-Border M&A Advice

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