infonet-economy

Using a unique data set, I study how stock markets react to positive and negative events concerned with a firm's corporate social responsibility (CSR). I show that investors respond strongly negatively to negative events and weakly negatively to positive events. I then show that investors do value "offsetting CSR", that is positive CSR news concerning firms with a...

We use payroll data in the Austrian, German, and Swiss banking sector to identify incentive pay in the critical banking segments of treasury/capital market management and investment banking for 67 banks. We document an economically significant correlation of incentive pay with both the level and volatility of bank trading income - particularly for the pre-crisis period 2003 – 2007,...

The search for PD-MCI biomarkers has employed an array of neuroimaging techniques, but still yields divergent findings. This may be due in part to MCI's broad definition, encompassing heterogeneous cognitive domains, only some of which are affected in Parkinson's disease. Most domains falling under the MCI umbrella include fronto-dependent executive functions, whereas...

Consumers’ purchase decisions depend on whether a product is perceived as a bargain or as overpriced. But how do consumers evaluate sales prices? The standard approach in economics, psychology, and marketing suggests that consumers’ estimates are best described by a attribute-based or piecemeal strategy that integrates information about products in a linear additive fashion. Here, we...

In management research, empirical data are often analyzed using p-value null hypothesis significance testing (pNHST). Here we outline the conceptual and practical advantages of an alternative analysis method: Bayesian hypothesis testing and model selection using the Bayes factor. In contrast to pNHST, Bayes factors allow researchers to quantify evidence in favor of the null...

Many cognitive theories of judgement and decision making assume that choice options are evaluated relative to other available options. The extent to which the preference for one option is influenced by other available options will often depend on how similar the options are to each other, where similarity is assumed to be a decreasing function of the distance between options. We...

Sie werden als Zeichen von Leistung und Erfolg bewundert, aber auch als Ort der Machtkämpfe und Bürokratie misstrauisch beäugt. Haben Konzernzentralen in Zeiten der digitalen Vernetzung und der Globalisierung noch einen Sinn?

Das Jahr 2014 war ein Rekordjahr auf dem Schweizer M&A-Markt. So stieg die Anzahl der Transaktionen um 33% von 315 im Jahr 2013 auf nunmehr 420 an. Auch der Fünf-Jahres-Vergleich zeigt, dass die Anzahl angekündigter Deals die Werte aus den Jahren 2010 bis 2012 übertraf. Noch positiver fällt der Blick auf die Entwicklung des Dealvolumens im vergangenen Jahr aus, das zuletzt 188,1...