The paper explores China's economic reforms and their sufficiency to attract significant foreign investments. It highlights the impressive GDP growth of 9.3% and per capita growth of 8.0% over 25 years since the initiation of market-oriented reforms in 1978. By 2003, China's GDP per capita had quadrupled, reaching approximately $1,000. The analysis also identifies further reform steps necessary for sustaining this growth and enhancing investment appeal, providing a critical examination of China's evolving economic landscape.
The seminar paper explores the influential work of Modigliani and Miller, which marked the inception of modern managerial finance by applying rigorous economic analysis to financial research. It discusses how their initial models faced criticism for being overly simplistic and lacking practical application, prompting the authors to refine their assumptions in subsequent papers. By relaxing conditions like symmetric information and complete contracts, they aimed to enhance the explanatory power of their models while maintaining the foundational principles established in their original work.
Exploring the connection between a firm's ownership structure and its performance, this thesis highlights the significant impact of managerial ownership on firm success. While substantial empirical evidence supports this relationship, the correlation between ownership and capital structure remains less consistent and more complex. The research delves into these dynamics, suggesting that understanding ownership's influence on capital structure could provide valuable insights for business economics and finance.
Research in empirical asset pricing has gained prominence over the last three decades, driven by the availability of new databases. This field contributes to the ongoing debate between neoclassical and behavioral explanations of asset pricing, enhancing our understanding of price evolution in capital markets. It requires a solid grasp of capital markets, trading processes, asset pricing models, proficiency in managing large datasets, and strong programming skills. Christian Funke's doctoral thesis comprises three significant essays in this area. The first essay examines the long-term performance of rival companies related to acquisition targets, revealing that capital markets underreact to information in M&A announcements. Funke finds a return drift lasting up to 12 months post-announcement, influenced by both positive and negative competitive effects. The second essay highlights a notable drift in long-term industry returns following M&A announcements. Industries with positive average reactions tend to perform well in the future, while those with negative reactions continue to struggle. This evidence indicates that capital markets underreact to the broader industry information conveyed by merger announcements, underscoring the complexities of asset pricing dynamics.
Die Arbeit analysiert die Herausforderungen der Wissensexplosion in der modernen Informationsgesellschaft des späten 20. und frühen 21. Jahrhunderts. Angesichts der enormen Menge an Informationen, die durch das Internet generiert wird, wird das Phänomen der Wissensinflation thematisiert. Der Autor beleuchtet die Schwierigkeiten, die Unternehmen bei der effektiven Verwaltung und Nutzung von Wissen haben, und diskutiert die Notwendigkeit von Strategien im Knowledge Management, um in diesem unübersichtlichen Informationsumfeld erfolgreich zu agieren.
Die Arbeit analysiert die Veränderungen in der Organisationspraxis, die durch steigende Umweltkomplexität und strategische Anforderungen bedingt sind. Sie hebt die zunehmende Bedeutung interorganisatorischer Kooperationen hervor, insbesondere strategischer Unternehmensnetzwerke, die von einem fokalen Akteur geleitet werden. Diese Netzwerke bieten eine flexible Alternative zu traditionellen Organisationsformen wie Markt und Hierarchie und sind entscheidend für die Anpassungsfähigkeit von Unternehmen in einem dynamischen Umfeld.
In �sthetik, Politik und schiitische Repr�sentation im zeitgen�ssischen Iranzeigt Christian Funke die Verflechtungen von Politik, Protest und schiitischer Materialit�t auf und legt vielschichtig dar, wie die Gr�ne Bewegung mit umfassenderen Diskursen �ber Demokratie, Identit�t, Geschichte und Gegenwart sowie Religion und Politik verkn�pft war.In Aesthetics, Politics, and Shiʿi Representation in Contemporary IranChristian Funke explores the entangled relationship between politics, protest and Shiʿi materiality and shows how the 'Green Movement' was part of larger discourses on democracy, identity, the present and the past, and religion and politics.
