Suchergebnisse

Abstract: Ratings sind standardisierte Abschätzungen schuldnerischer Vertragstreue, die zunächst der Bewältigung gläubigerseitiger Wissensdefizite dienten. Es folgten Inbezugnahmen durch die Finanzmarktregulierung sowie regelmäßig krisengetriebene Forderungen nach einer Regulierung der Rating-Märkte selbst. Ausgehend davon werden in dieser Arbeit die Prozesse sowie Strukturen, vor allem aber die Regeln der Märkte für Ratings ökonomisch analysiert. Es wird gezeigt, dass Konzepte einer staatlichen rating-gerichteten Regulierung marktwirtschaftlichen Ansprüchen nicht genügen

Vorwort -- Einleitung -- Inhalt -- 1 Das Konzept der Wertorientierung in der Kreditwirtschaft -- 1.1 Die Entwicklung des Konzepts und seine Kernelemente -- 1.2 Mehrwertschaffung und Interessenausgleich zwischen Share- und Stakeholdern -- 1.3 Die Koordination der Wertorientierung in der Banksteuerung -- 1.4 Branchenspezifika der Kreditinstitute als Herausforderungen der Wertorientierung -- 1.5 Zusammenfassung und Arbeitsaufgaben -- 2 Zinsergebnisrechnungen als Kernelement von Wertanalysen -- 2.1 Anforderungen an Kalkulations- und Steuerungssysteme -- 2.1.1 Theoriebezogene Basiskriterien

In the 21st century, various socio-economic crises have revealed that traditional economic science and (neo)classical thinking are unable to explain all the complexity of current economic problems, therefore the application of more complex and non-trivial economic concepts is gaining relevance. In addition to behavioral and evolutionary economic thinking, models of quantum economics have been developed in recent years, which allow solving economic problems, using mainly quantum thinking and the principles of quantum physics, in particular particle-wave dualism, the principle of uncertainty, the absence of a subject-object distinction, superposition and confusion. The article addresses 3 research questions (RQ). According to RQ1, the paper finds that quantum economics research is dominated by the following topics: quantum economics, quantum finance, quantum decision making, and quantum game theory. According to these four thematic descriptors, the article carries out a systematic modern review of scientific works in the period from 1978 to 2022 (if only 50 works were published in 1978-1999, then in 2000-2022 already 3430), with an emphasis on the most cited (Google Scholar) English-language journal articles. The analysis showed that articles on this topic are published mainly in journals of a non-economic profile, that the peaks of publication activity occur at times of powerful socio-economic upheavals (for example, the dot.com bubble, the substandard/financial crisis, the European debt crisis, the coronavirus pandemic, etc.). In accordance with RQ2, the article defines the key characteristics of the quantum economic model: in contrast to neoclassical economics (based on mechanistic classical physics, is rational and deterministic, with the help of the invisible hand of the market it leads to a stable equilibrium), the quantum approach, on the contrary, considers the economy as more complex, empirically oriented, uncertain, probabilistic, superpositional, as an archetypal example of a quantum social system that has its own versions of duality, measurement, and entanglement. According to RQ 3, the article determines to what extent quantum economics can update (neo)classical economics (integration of new ontological premises into economic thinking, more experimental and practical approach, connection between the concept of entanglement and sustainable development, management of financial risks based on the concept of quantum probability, rethinking the concept of randomness by quantum probability, introduction of quantum money, equilibrium using quantum games, etc.).

Abstract
After being in force for several years, sanctions against Iran were partly lifted on 16 January 2016, reopening business options for the financial industry. This paper investigates whether a breach of internationally imposed economic sanctions had a negative impact on the value of a bank that decided to implicitly or explicitly violate those sanctions. Using event study methodology, our analysis provides evidence that a breach of Iran-related sanctions by foreign banks caused considerable wealth reductions for their shareholders who finally bear the corresponding fining-costs. The results also show that bank shareholders do not perceive the lifting of sanctions as being good news, implying that they lost faith in their bank's ability to establish a sufficient compliance and due diligence system for Iran-related transactions. Finally, the study shows that the announced fining for a breach of sanctions does not induce spillover effects to non-fined banks. Thus, the study provides important insights on reasons of the current shortage of foreign lending toward Iran.