Wolfgang Breuer, Professor, School of Business and Economics, RTWH Aachen University
Andreas Pfingsten, Professor, Finance Center Münster, School of Business and Economics, WWU Münster
Aim of the Special Issue:
The Journal of Business Economics has a long-lived tradition of publishing scholarly finance articles in its regular issues. These are occasionally supplemented by special issues on particular topics, most recently venture capital and private equity financing (2018) and digital finance and financial literacy (2017). For the next special issue, we are actively soliciting contributions investigating business financing beyond plain vanilla loans, bonds, and common stock as basic types of debt financing and equity financing, respectively.
While the seminal paper of Modigliani and Miller (1958) solely focused on the issue of optimizing firm capital structure by choosing a suitable leverage ratio, theoretical and empirical work in the field of corporate finance has extended since then to a broad scope of much more elaborated details. For this special issue, we are interested in all such facets highlighting that there is more about company finance than simply choosing an adequate mixture of loans, bonds, and common stock.
For many firms, leasing is an important alternative or complement to bank lending. While there exists quite some research on both instruments separately, it seems less well understood which factors drive the choice between different contract types, in particular from a credit risk perspective. Similarly, liquidity combined with default risk mitigation can be obtained via factoring, but also via securitization, and again the reasons behind the choice deserve further attention.
Typically, firms borrow in home currency, but other currencies are sometimes chosen, e.g. when FX payments are due or as FX hedging. The occurrence of cryptocurrencies, commonly traded on platforms, opens new alternatives. Not being legal tender is just one of their features worth an in-depth analysis. Platform is also an important keyword when it comes to crowdfunding and tokenization. They may serve several purposes and come in different institutional settings.
Some businesses have to comply with special restrictions when optimizing their cost of capital. Banks’ regulatory capital requirements, providing a rationale for contingent convertible bonds, are one case in point, Shariah-compliant bonds of Islamic firms are another.
In addition to a potential analysis of non-standard financial instruments, we are also interested in papers examining non-standard situations of financing as, e.g., during or in the aftermath of a global pandemic like the current one. Moreover, as a third dimension, papers are also welcome which make use of non-standard ways of analysis, in particular, by relying on methods from the quickly growing fields of textual analyses and/or machine learning.
Summing up, we cordially invite submissions investigating under-researched financial instruments and innovative financial markets, unusual financing situations or the application of new methodological approaches. As partially indicated above, topics may include, but are not limited to,
• comparisons between leasing contracts and loan contracts,
• securitization, e.g. as an alternative to factoring,
• scope and limits of cryptocurrency platforms as funding sources,
• opportunities and threats of crowdfunding,
• impact of tokenization on business finance,
• contingent convertible bonds as regulatory bank capital,
• past and future role of Islamic finance,
• the financial implications of the Covid-19 pandemic
• the value-added by applying machine learning algorithms for financial analyses
Theoretical and empirical papers with a clear quantitative focus are both welcome. Empirical papers should be based on theoretically derived hypotheses and state-of-the-art hypotheses testing. Please note that simple replications of empirical studies from the US or the UK without a sound justification typically do not qualify for this special issue.
Papers must be written in English and must not contain any reference to the identity of the authors.
Please submit your papers by 06/30/2021 via our online submission system at https://www.editorialmanager.com/jbec/Default.aspx. Please do not forget to mention the title of this special issue in your letter to the editor. Your papers must not have been published previously. Submitted papers will be double-blind peer-reviewed and may be published in a special issue of the Journal of Business Economics at the end of 2022. Author guidelines are available at:
Als einzige staatliche Fernuniversität im deutschen Sprachraum sind wir seit mehr als 40 Jahren erfahren im lebensbegleitenden und lebenslangen Lernen. Dabei eröffnen wir unseren Studierenden flexible Studienmöglichkeiten auf Basis eines Blended-Learning-Studienmodells.
An unseren fünf Fakultäten entwickeln wir mit fachbezogener und fachübergreifender Forschung zukunftsweisende Lösungen.
Das Team am Lehrstuhl für Angewandte Statistik lehrt und forscht zu Themen der empirischen Finanzmarktökonometrie und der Zeitreihenanalyse für makroökonomische und energiewirtschaftliche Anwendungen.
Wenn Sie an der Fakultät für Wirtschaftswissenschaft, Lehrstuhl für Angewandte Statistik, ab dem 01.04.2021 diese Aufgaben mitgestalten möchten, dann bewerben Sie sich auf die Stelle als
befristet in Vollzeit
Entgeltgruppe 13 TV-L
Haben wir Ihr Interesse geweckt? Dann freuen wir uns über Ihre Bewerbung bis zum 10.01.2021 über unser Online-Formular (https://fernuni-hagen.hr4you.org/bewerbungform_extern.php?sid=1237).
6th European Retail Investment Conference (ERIC) and Doctoral Consortium
Main Conference: May 13-14, 2021
Doctoral Consortium: May 12, 2021
Keynote Speaker: Zacharias Sautner
(Frankfurt School of Finance & Management)
In recent years, technological innovation has changed the market for retail investment products and facilitated competition between new entrants and traditional players. The aftermath of the financial crises has reduced retail investor’s trust in financial institutions and markets. However, the majority of financial market research focuses on institutions and institutional investing, whereas significantly fewer studies examine the role and decisions of retail investors within this changing regulatory and technological environment. A fundamental question arises from the common conjecture that retail investors switch to alternative investments or retract from and no longer participate in financial markets. While practical experience often suggests better investor education to prevent falling participation and increased market complexity, little knowledge has been gained about the effect of financial literacy on (retail) investors’ behavior and their welfare. Furthermore, the impact of technology to support decision-making, participation, and education remains widely unexplored.
To shed light on these aspects and develop a better understanding of their impact on retail investors, the European Retail Investment Conference (ERIC) invites submissions that investigate financial literacy and education, regulatory issues, investors’ decision-making, the impact of technology on retail investors, market microstructure, and sustainable finance.
BEST PAPER AWARD:
Prizes of 600 EUR (best paper) and 400 EUR (second best paper) will be awarded for the best doctoral student papers.
ERIC will accept completed but unpublished research papers that have not been accepted for publication at the time of submission. Submitted papers will be double-blind reviewed by the program committee. ERIC welcomes Ph.D. students to submit working papers or preliminary drafts of one of their Ph.D. essays to the doctoral consortium. The submission deadline for the main conference and for the doctoral consortium is January 1st, 2021. Accommodation and registration are free of charge for accepted Ph.D. students. Registration is free of charge for accepted presenters. Acceptance of papers will be announced around February 28th, 2021. Further information can be found on www.retailinvestmentconference.org.
Hans-Peter Burghof, University of Hohenheim, Germany
Ryan Riordan, Queen's School of Business, Queen's University, Canada
Christof Weinhardt, Karlsruhe Institute of Technology, Germany
October 13 4:00 –5:15 pm CET | Online (Zoom) Morten Bennedsen, INSEAD and University of Copenhagen
Back to the future: The effect of returning family successions on firm performance
October 27 4:00 –5:15 pm CET | Online (Zoom) Andrew Ellul, Kelley School of Business, Indiana University
November 10 4:00 –5:15 pm CET | Online (Zoom) Andrey Golubov, Rotman School of Management, University of Toronto
November 24 4:00 –5:15 pm CET | Online (Zoom) Renée Adams, Saïd Business School, University of Oxford
December 08 4:00 –5:15 pm CET | Online (Zoom) Rawley Heimer, Carroll School of Management, Boston College
Ab dem 1. Januar 2021 ist am Lehrstuhl für Angewandte Statistik eine Stelle als
befristet in Teilzeit (75%), Entgeltgruppe 13 TV-L zu besetzen. Details finden Sie unter
Bei Fragen wenden Sie sich gerne an Prof. Dr. Robinson Kruse-Becher