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One‐Way Versus Two‐Way Postacquisition Integration Efforts: Theory and Evidence

We develop a theory of postacquisition integration that distinguishes between one-way (acquirer-only) and two-way (mutual) effort strategies. We argue that the method of payment—cash versus shares—may serve as an ex ante commitment mechanism to a particular integration strategy, where cash deals align with unilateral effort, and share deals induce mutual engagement. Using transaction-level mergers ...

Arbeitsmigration im Wandel: Von "Gästen" zu tragenden Säulen

Die Arbeitsmigration nach Deutschland ist ein prägendes Element der wirtschaftlichen und gesellschaftlichen Entwicklung seit den 1950er-Jahren. Während sie anfangs primär als kurzfristige Lösung gegen Arbeitskräftemangel gedacht war, wandelte sich ihr Stellenwert im Laufe der Zeit grundlegend. Heute gilt Einwanderung in den Arbeitsmarkt als unabdingbar, um dem demografischen Wandel und dem Fachkräftemangel ...

Migration in Deutschland: Entwicklungen und gegenwärtige Herausforderungen

The Impact of Macroeconomic Conditions on Long-Term Care: Evidence on Prices

The price of institutional long-term care is a key determinant of the demand for both formal and informal long-term care. In this paper, we examine how the regional unemployment rate as a proxy for macroeconomic conditions influences these prices. Our analysis draws on administrative data that provide detailed information on all nursing homes and ambulatory care services, as well as all recipients ...

Die Jugend braucht finanzielle Sicherheit

Trotz des Wohlstands in Deutschland sind viele junge Menschen finanziell nicht eigenständig. Die Jugend braucht bessere Chancen, um Vermögen aufzubauen. Die junge Generation in Deutschland steht vor einem Paradoxon: Noch nie war das Land so wohlhabend, doch junge Menschen profitieren davon nur begrenzt. Häufig fehlt ihnen die finanzielle Autonomie, um ihr Leben selbstbestimmt zu gestalten – sei es ...

The Persuasiveness of Different Sources of Information on the Decision to Vaccinate: A Cross-Sectional Study in Germany During the Pandemic at the Turn of the Year 2021/2022

Health information about vaccinations is communicated via various sources of information and is crucial for vaccination decisions. Information sources such as interpersonal sources, traditional print and digital media as well as social media offer information about the risks and benefits of vaccination. During health crises such as the COVID-19 pandemic was, some information sources provide hanging ...

Composition of Core Modules and Item Allocation in Split Questionnaire Designs: Impact on Estimates from Imputed Data

An increasing number of social science surveys use split questionnaire designs to reduce questionnaire length, presenting only a subset of several questionnaire modules to each respondent while leaving out others. This approach results in large amounts of planned missing data that necessitates imputation. Research shows that imputation is most effective when each module covers various topics. Yet, ...

Impact of ESG Performance on the Cost of Capital in the Energy, Utilities, and Basic Materials Sectors

This paper explores the presence of an environmental, social, and governance (ESG) premium for firms operating in the energy, utilities, and basic materials sectors. Specifically, we examine the influence of ESG performance on firms’ cost of capital in both debt and equity markets. We apply a measure of the ex ante implied cost of equity and the cost of debt to a global sample of over 24,000 firm-year ...

Vom Boykott zum Ölpreisschock

„Die Erdöl-Erpressung“ titelte der SPIEGEL am 3.11.1973. „Holland ohne Benzin“ stand in schwarz auf gelber Schrift daneben. Das Cover des Nachrichtenmagazins zeigte einen bewaffneten Kämpfer auf einer Pipeline sitzend. Zwei Wochen später zierte der Spiegel-Titel eine klassische arabische Kopfbedeckung und die Zeile „Ölscheichs gegen Europa“. Ähnlich drastisch berichteten viele Medien in Deutschland. ...

The gap between the rich and poor states is widening more and more