{"id":53502,"date":"2023-03-20T10:38:46","date_gmt":"2023-03-20T10:38:46","guid":{"rendered":"https:\/\/jums.academy\/v7i5-3\/"},"modified":"2023-03-21T15:46:25","modified_gmt":"2023-03-21T15:46:25","slug":"v8i1","status":"publish","type":"page","link":"https:\/\/jums.academy\/en\/v8i1\/","title":{"rendered":"v8i1"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-background-position:left top;--awb-border-sizes-top:0px;--awb-border-sizes-bottom:0px;--awb-border-sizes-left:0px;--awb-border-sizes-right:0px;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:20px;--awb-padding-bottom:20px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#000000;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-unboxed\" id=\"accordion-53502-1\"><div class=\"fusion-panel panel-default panel-c4e874649e321548b fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_c4e874649e321548b\"><a aria-expanded=\"false\" aria-controls=\"c4e874649e321548b\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-1\" data-target=\"#c4e874649e321548b\" href=\"#c4e874649e321548b\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">All published articles sorted by issues<\/span><\/a><\/h4><\/div><div id=\"c4e874649e321548b\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_c4e874649e321548b\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<ul style=\"list-style-type: none;\">\n<!--li><a href=\"https:\/\/jums.academy\/en\/v10i4-3\/\">Junior Management Science, Volume 11, Issue 1, March 2026<\/a><\/li-->\n<li><a href=\"https:\/\/jums.academy\/en\/v10i4\/\">Junior Management Science, Volume 10, Issue 4, December 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i3\/\">Junior Management Science, Volume 10, Issue 3, September 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i2\/\">Junior Management Science, Volume 10, Issue 2, June 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i1\/\">Junior Management Science, Volume 10, Issue 1, March 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i4\/\">Junior Management Science, Volume 9, Issue 4, December 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i3\/\">Junior Management Science, Volume 9, Issue 3, September 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i2\/\">Junior Management Science, Volume 9, Issue 2, June 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i1\/\">Junior Management Science, Volume 9, Issue 1, March 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i4\/\">Junior Management Science, Volume 8, Issue 4, December 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i3\/\">Junior Management Science, Volume 8, Issue 3, September 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i2\/\">Junior Management Science, Volume 8, Issue 2, June 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i1\/\">Junior Management Science, Volume 8, Issue 1, March 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i5\/\">Junior Management Science, Volume 7, Issue 5, December 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i4\/\">Junior Management Science, Volume 7, Issue 4, September 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i3\/\">Junior Management Science, Volume 7, Issue 3, July 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i2\/\">Junior Management Science, Volume 7, Issue 2, June 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i1\/\">Junior Management Science, Volume 7, Issue 1, March 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i4\/\">Junior Management Science, Volume 6, Issue 4, December 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i3\/\">Junior Management Science, Volume 6, Issue 3, September 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i2\/\">Junior Management Science, Volume 6, Issue 2, June 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i1-2\/\">Junior Management Science, Volume 6, Issue 1, March 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i4\/\">Junior Management Science, Volume 5, Issue 4, December 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i3\/\">Junior Management Science, Volume 5, Issue 3, September 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i2\/\">Junior Management Science, Volume 5, Issue 2, June 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i1\/\">Junior Management Science, Volume 5, Issue 1, March 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i4\/\">Junior Management Science, Volume 4, Issue 4, December 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i3\/\">Junior Management Science, Volume 4, Issue 3, September 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i2\/\">Junior Management Science, Volume 4, Issue 2, June 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i1\/\">Junior Management Science, Volume 4, Issue 1, March 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i4\/\">Junior Management Science, Volume 3, Issue 4, December 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i3\/\">Junior Management Science, Volume 3, Issue 3, September 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i2\/\">Junior Management Science, Volume 3, Issue 2, June 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i1\/\">Junior Management Science, Volume 3, Issue 1, March 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v2i3\/\">Junior Management Science, Volume 2, Issue 3, December 2017<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v2i2\/\">Junior Management Science, Volume 2, Issue 2, September 2017<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v2i1\/\">Junior Management Science, Volume 2, Issue 1, June 2017<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v1i2\/\">Junior Management Science, Volume 1, Issue 2, December 2016<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v1i1\/\">Junior Management Science, Volume 1, Issue 1, June 2016<\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div>\n<div class=\"fusion-title title fusion-title-1 sep-underline sep-solid fusion-title-text fusion-title-size-five\" style=\"--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-bottom-small:20px;--awb-margin-left-small:0px;--awb-sep-color:#000000;\"><h5 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:18;--minFontSize:18;line-height:1.38;\"><\/h5><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-builder-row fusion-builder-row-inner fusion-row\"><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-0 fusion_builder_column_inner_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-1\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-title title fusion-title-2 fusion-sep-none fusion-title-text fusion-title-size-four\" style=\"--awb-margin-bottom:-5px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-bottom-small:20px;--awb-margin-left-small:0px;\"><h4 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:26;line-height:1.43;\"><h4><strong>Junior Management Science, Volume 8, Issue 1, March 2023<\/strong><\/h4><\/h4><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_5 1_5 fusion-one-fifth fusion-column-first\" style=\"--awb-bg-size:cover;width:20%;width:calc(20% - ( ( 4% ) * 0.2 ) );margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"1100\" height=\"1556\" title=\"Deckblatt\" src=\"https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=1100%2C1556&#038;ssl=1\" alt class=\"img-responsive wp-image-54384\" srcset=\"https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=200%2C283&amp;ssl=1 200w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=212%2C300&amp;ssl=1 212w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=400%2C566&amp;ssl=1 400w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=600%2C849&amp;ssl=1 600w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=768%2C1086&amp;ssl=1 768w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=800%2C1132&amp;ssl=1 800w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=1086%2C1536&amp;ssl=1 1086w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=1200%2C1697&amp;ssl=1 1200w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?resize=1448%2C2048&amp;ssl=1 1448w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?w=2200&amp;ssl=1 2200w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?w=3300&amp;ssl=1 3300w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2023\/03\/Deckblatt-2.png?w=4133&amp;ssl=1 4133w\" sizes=\"(max-width: 800px) 100vw, 400px\" \/><\/span><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_4_5 4_5 fusion-four-fifth fusion-column-last\" style=\"--awb-bg-size:cover;width:80%;width:calc(80% - ( ( 4% ) * 0.8 ) );\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-2\"><ol>\n<li><a href=\"#A1\"><strong>Leon Specht,<\/strong> An Empirical Analysis of European Credit Default Swap Spread Dynamics, 1-42<\/a><\/li>\n<li><a href=\"#A2\"><strong>Moritz Setzer<\/strong>, From investor to entrepreneur \u2013 An explorative study of the entrepreneurial behaviour of investor-entrepreneurs, 43-67<\/a><\/li>\n<li><a href=\"#A3\"><strong>Michael Keck<\/strong>, The role of management control systems in reducing and preventing managerial misreporting: A critical analysis, 68-95<\/a><\/li>\n<li><a href=\"#A4\"><strong>Niklas Behne<\/strong>, Going-Concern-Opinion \u2013 A Critical Analysis of Determinants and Consequences, 96-122<\/a><\/li>\n<li><a href=\"#A5\"><strong>Fabio Kr\u00fcger<\/strong>, Impact of Team Agility on Team Effectiveness: The Role of Shared Mental Models, Team Empowerment, and Team Reflexivity, 123-147<\/a><\/li>\n<li><a href=\"#A6\"><strong>Julian Schneider<\/strong>, Promoting Transparency or Harming Shareholders? U.S. Market Reaction to the Regulation of Proxy Advisors, 148-162<\/a><\/li>\n<li><a href=\"#A7\"><strong>Anna Bogner<\/strong>, Memory asymmetries in experiential and material purchases: The role of self-expression, 163-187<\/a><\/li>\n<li><a href=\"#A8\"><strong>Carina Menhofer<\/strong>, Critical analysis of the VAT treatment of vouchers since the annual Tax Act 2018, 188-218<\/a><\/li>\n<li><a href=\"#A9\"><strong>Jonas P\u00fctter<\/strong>, Is Cash (the only) King? \u2013 A critical analysis of the relevance of Cashflow figures according to IAS 7, 219-236<\/a><\/li>\n<li><a href=\"#A10\"><strong>Markus Klepsch<\/strong>, Do birds of a feather always flock together? A multidimensional examination of homophily in crowdfunding, 237-269<\/a><\/li>\n<\/ol>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-first fusion-column-no-min-height\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-bg-size:cover;width:13.3333%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-aligncenter\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/JUMS_Volume8_Issue1-2023.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion_builder_column_1_2 1_2 fusion-one-half fusion-column-no-min-height\" style=\"--awb-bg-size:cover;width:48%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div style=\"width: 2px; height: 2px;\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-no-min-height\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-bg-size:cover;width:13.3333%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-aligncenter\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-2 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_self\" href=\"https:\/\/jums.academy\/en\/?page_id=53483\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Submit your thesis now<\/span><\/a><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-last fusion-column-no-min-height\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-bg-size:cover;width:13.3333%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-aligncenter\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-3 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_self\" href=\"https:\/\/jums.academy\/en\/newsletter\/\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Keep up to date<\/span><\/a><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-10 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-11 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-3\"><p><a name=\"A9\"><\/a><\/p>\n<h5 style=\"text-align: left;\">An Empirical Analysis of European Credit Default Swap Spread Dynamics<\/h5>\n<p>Leon Specht, Leibniz-Universit\u00e4t Hannover (Master thesis)<br \/>\nJunior Management Science 8(1), 2023, 1-42<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-2\"><div class=\"fusion-panel panel-default panel-3d81a35d69f2af241 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_3d81a35d69f2af241\"><a aria-expanded=\"false\" aria-controls=\"3d81a35d69f2af241\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-2\" data-target=\"#3d81a35d69f2af241\" href=\"#3d81a35d69f2af241\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"3d81a35d69f2af241\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_3d81a35d69f2af241\"><div class=\"panel-body toggle-content fusion-clearfix\">\nI analyze the dynamics of European credit default swap spreads by estimating CDS spreads via an extension of the structural credit risk models by Black and Cox (1976) as well as Leland (1994), the so called CreditGrades model proposed by Finger et al. (2002). Using two different procedures in approximating the asset volatility surface of obligors, the models are calibrated by means of historical equity volatility and volatility extracted out of at-the-money options. I discover that model performance strongly depends on the distribution of input parameters clustered by economical sectors. Model spreads exhibit significant correlation with market spreads and seem to predict market spreads contingent on sectors and model calibration techniques. The gap between model and market spreads, derived model spreads and empirical market spreads are analyzed by running panel regressions in fashion of Collin-Dufresn et al. (2001) and Bedendo et al. (2011). These show that times of disconnectedness between credit and equity markets, model inherent misspecifications as well as possible market inefficiencies can contribute to the inability to estimate spreads reliably. Robustness checks show that determinants of gap, model and market spreads are sector specific, time varying and tenor dependent.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-4\"><p><em>Keywords: Credit Risk; Credit Risk Modelling; Structural Models; Credit Risk Management; Quantitative Finance.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-5\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp1-42<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-4 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Specht.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-5 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Specht.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-6 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp1-42\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-6\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/l-specht\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-12 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-7\"><p><a name=\"A7\"><\/a><\/p>\n<h5 style=\"text-align: left;\">From investor to entrepreneur \u2013 An explorative study of the entrepreneurial behaviour of investor-entrepreneurs<\/h5>\n<p>Moritz Setzer, Technische Universit\u00e4t M\u00fcnchen (Master thesis)<br \/>\nJunior Management Science 8(1), 2023, 43-67<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-3\"><div class=\"fusion-panel panel-default panel-c0c4e7873bcdbd368 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_c0c4e7873bcdbd368\"><a aria-expanded=\"false\" aria-controls=\"c0c4e7873bcdbd368\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-3\" data-target=\"#c0c4e7873bcdbd368\" href=\"#c0c4e7873bcdbd368\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"c0c4e7873bcdbd368\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_c0c4e7873bcdbd368\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<span role=\"\" data-sheets-value=\"{\" data-sheets-userformat=\"{\">Research on entrepreneurial types argues that differences in decisions and actions of novice and habitual entrepreneurs can be attributed to prior experience and social ties. However, other forms of resource acquisition than business ownership experience are neglected in previous studies. This study investigates this research gap by exploring the entrepreneurial behavior of novice investor-entrepreneurs, first-time founders who have previously worked in venture capital or private equity. Drawing on a cross-sectional approach with 13 semi-structured interviews, this paper investigates whether investorentrepreneurs have already acquired the necessary resources relevant for new venture foundations in their role as investors. This study reveals that investor-entrepreneurs differ from other first-time entrepreneurs in several aspects. It shows that the differences can mainly be attributed to skills and knowledge already acquired through the job as an investor. In fact, venture capital experience seems to be more helpful for a venture\u2019s early foundation than private equity experience. The study discusses the implications of these findings for the literature on entrepreneurial types and their differentiation, thereby challenging existing differentiation and classification approaches.<\/span><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-8\"><p><em>Keywords: Investor-entrepreneur; Entrepreneurial types; Novice; Habitual.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-9\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp43-67<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-7 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Setzer.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-8 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Setzer.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-9 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp43-67\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-10\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/m-setzer\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-13 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-11\"><p><a name=\"A1\"><\/a><\/p>\n<h5 style=\"text-align: left;\">The role of management control systems in reducing and preventing managerial misreporting: A critical analysis<\/h5>\n<p>Michael Keck, Heinrich-Heine-Universit\u00e4t D\u00fcsseldorf (Master thesis)<br \/>\nJunior Management Science 8(1), 2023, 68-95<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-4\"><div class=\"fusion-panel panel-default panel-b76215ffbf4c2f86f fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_b76215ffbf4c2f86f\"><a aria-expanded=\"false\" aria-controls=\"b76215ffbf4c2f86f\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-4\" data-target=\"#b76215ffbf4c2f86f\" href=\"#b76215ffbf4c2f86f\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"b76215ffbf4c2f86f\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_b76215ffbf4c2f86f\"><div class=\"panel-body toggle-content fusion-clearfix\">\nTo manage the company efficiently, management control systems depend on truthful information from their employees. In contrast to the classical principal-agent theory, in which managers represent purely self-interested individuals, behavioral science research has shown that honesty preferences play a role in managers\u2018 decisions. The aim of this thesis is to investigate how management control systems can contribute to reducing and preventing managerial misreporting through a clever design of control instruments. The object-of-control framework of Merchant\/Van der Stede (2017) is used in the context of this study. Based on literature, formal and informal control instruments are examined for their potential to bring truthful reporting in the interest of the company. The results show that management control systems can contribute to reducing and preventing managerial misreporting through a clever design of the control instruments, and that companies can benefit from managers\u2019 honesty preferences. The management control system should take care to behave fairly toward managers itself and, in particular, implement measures that improve social norms for honesty in the company, thereby creating a mutual-monitoring effect. Since control instruments can also have a negative impact on truthful reporting if they are poorly designed, companies should ensure that their management control system is holistically designed.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-12\"><p><em><span data-sheets-value=\"{\" data-sheets-userformat=\"{\">Keywords: Managerial misreporting; management control system; honesty; disclosure; formal and informal controls.<\/span><\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-13\"><p><em><span data-sheets-value=\"{\" data-sheets-userformat=\"{\">DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp68-95<\/span><\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-10 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Keck.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-11 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp68-95\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-14\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/m-keck\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-14 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-15\"><p><a name=\"A6\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Going-Concern-Opinion \u2013 A Critical Analysis of Determinants and Consequences<\/h5>\n<p>Niklas Behne, Universit\u00e4t Hamburg (Master thesis)<br \/>\nJunior Management Science 8(1), 2023, 96-122<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-5\"><div class=\"fusion-panel panel-default panel-6b368e2d43afc5b47 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_6b368e2d43afc5b47\"><a aria-expanded=\"false\" aria-controls=\"6b368e2d43afc5b47\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-5\" data-target=\"#6b368e2d43afc5b47\" href=\"#6b368e2d43afc5b47\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"6b368e2d43afc5b47\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_6b368e2d43afc5b47\"><div class=\"panel-body toggle-content fusion-clearfix\">\nThe auditor\u2019s assessment and reporting of significant uncertainties regarding the going concern is an important source of information for the stakeholder of an entity. Therefore, this paper analyzes and evaluates the determinants that lead to the so-called going-concern-opinion (GCO) as well as the consequences of a GCO for the company and the auditor. The results indicate that it is more likely for a company to receive a GCO when it is in a weaker economic situation, has a more independent audit committee and has an effective internal control. For companies, the GCO results in a negative market reaction and worse lending conditions. Furthermore, after a GCO an auditor switching is more likely, and the auditor receives less audit fees. In the case of an erroneously omitted GCO the auditor is confronted with the risk of litigation and the loss of his reputation. This systematic overview can be used as basic for regulatory efforts and educate the practice about potential consequences of a GCO.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-16\"><p><em>Keywords: Continuation of the company; Going-Concern-Opinion; Auditor\u2019s report; Financial statement audit.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-17\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp96-122<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-12 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Behne.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-13 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Behne.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-14 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp96-122\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-18\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/n-behne\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-15 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-19\"><p><a name=\"A5\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Impact of Team Agility on Team Effectiveness: The Role of Shared Mental Models, Team Empowerment, and Team Reflexivity<\/h5>\n<p>Fabio Kr\u00fcger, Technische Universit\u00e4t M\u00fcnchen (Masterarbeit)<br \/>\nJunior Management Science 8(1), 2023, 123-147<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-6\"><div class=\"fusion-panel panel-default panel-3cfb6107f003c0afe fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_3cfb6107f003c0afe\"><a aria-expanded=\"false\" aria-controls=\"3cfb6107f003c0afe\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-6\" data-target=\"#3cfb6107f003c0afe\" href=\"#3cfb6107f003c0afe\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"3cfb6107f003c0afe\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_3cfb6107f003c0afe\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<p><span role=\"\" data-sheets-value=\"{\" data-sheets-userformat=\"{\">While more and more organizations are adopting team agility as a new work approach to cope better with change, research still lacks a proper understanding of the human-side of team agility. To investigate the effectiveness and the human-side of team agility, this study builds on the IMO-framework. Team agility is investigated as the input factor, shared mental models (SMM) and team empowerment as mediators, team performance and team satisfaction as outcomes and team reflexivity as moderator between the relationships of mediators and outcomes. Data was collected from 23 agile working teams (\u2212 = 3.48). Using linear regression both hypotheses, that team agility positively impacts SMM and team empowerment, were supported. This study found a significant total model effect for the relationship between team agility and team performance mediated by both, SMM and team empowerment. This study contributes to a better integration of the agile and teamwork literatures by identifying the roles of SMM and team empowerment on team effectiveness in an organizational context of team agility, as facilitating emergent team states.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-20\"><p><em>Keywords: Agile work; team agility; team effectiveness; shared mental models; team empowerment.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-21\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp123-147<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-15 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Krueger.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-16 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Krueger.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-17 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp123-147\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-22\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/f-Krueger\/\">Zur Artikel-Seite<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-16 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-23\"><p><a name=\"A2\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Promoting Transparency or Harming Shareholders? U.S. Market Reaction to the Regulation of Proxy Advisors<\/h5>\n<p>Julian Schneider, Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen (Bachelor thesis)<br \/>\nJunior Management Science 8(1), 2023, 148-162<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-7\"><div class=\"fusion-panel panel-default panel-fd3d0d6663df997d5 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_fd3d0d6663df997d5\"><a aria-expanded=\"false\" aria-controls=\"fd3d0d6663df997d5\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-7\" data-target=\"#fd3d0d6663df997d5\" href=\"#fd3d0d6663df997d5\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read Abstract<\/span><\/a><\/h4><\/div><div id=\"fd3d0d6663df997d5\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_fd3d0d6663df997d5\"><div class=\"panel-body toggle-content fusion-clearfix\">\nThe SEC\u2019s decision to regulate proxy advisors triggers conflicting reactions. The intended increased transparency for shareholders is opposed to higher costs for obtaining information. This paper addresses the question of whether shareholders perceive the regulation of proxy advisors positively as an added value or negatively as a cost. An event study is used to examine market reactions to eleven events that influenced the likelihood of regulation adoption. The event study reveals a negative overall market reaction, suggesting that shareholders view regulation less as an added value through increased transparency and more as a detriment through added costs. Reactions to events that increase (decrease) the likelihood of adoption tend to be negative (positive). Moreover, market reactions are stronger the lower the share of institutional investors in a company. This paper contributes to the debate on proxy advisor regulation by being the first to provide empirical evidence on how shareholders respond to regulation.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-24\"><p><em><span data-sheets-value=\"{\" data-sheets-userformat=\"{\">Keywords: Proxy advisors; corporate governance; event study; information intermediaries.<\/span><\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-25\"><p><em><span data-sheets-value=\"{\" data-sheets-userformat=\"{\">DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp148-162<\/span><\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-18 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/BA_Schneider.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-19 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Schneider.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-20 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp148-162\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-26\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/j-schneider\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-17 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-27\"><p><a name=\"A7\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Memory asymmetries in experiential and material purchases: The role of self-expression<\/h5>\n<p>Anna Bogner, Technische Universit\u00e4t M\u00fcnchen (Masterarbeit)<br \/>\nJunior Management Science 8(1), 2023, 163-187<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-8\"><div class=\"fusion-panel panel-default panel-6f95305897cc2c8b9 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_6f95305897cc2c8b9\"><a aria-expanded=\"false\" aria-controls=\"6f95305897cc2c8b9\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-8\" data-target=\"#6f95305897cc2c8b9\" href=\"#6f95305897cc2c8b9\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"6f95305897cc2c8b9\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_6f95305897cc2c8b9\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<p><span role=\"\" data-sheets-value=\"{\" data-sheets-userformat=\"{\">To date many studies have investigated the different potentials of material and experiential purchases on making consumers happy. There is a strong recommendation to prefer experiential purchases when seeking happiness, the so called \u201cexperiential advantage\u201d. But do experiences always make people happier as compared to material purchases? This study proposes a memory asymmetry in experiential and material purchases as a main antecedent of reported consumer happiness in favor of experiential purchases. Employing a mixed online experiment, especially the role of self-expression in that context was investigated. Germanspeaking respondents indicated that when equally self-expressive, both material and experiential purchases can contribute to their happiness in the same degree. Nevertheless, an interesting finding was that there is a significant preference to use experiential purchases for conveying a person\u2019s true self to someone else. The heavier use of self-expressive purchases in socialization can explain why it is easier to recall self-expressive experiential than self-expressive material purchases. This memory asymmetry results in self-expressive experiential purchases being more frequently recalled than self-expressive material purchases when asked to intuitively recall a purchase that has contributed to one\u2019s happiness. Thus, that might be a reason why scholars have observed the \u201cexperiential advantage\u201d. The results are discussed as well as their meaning for different areas. Finally, recommendations for future research are offered.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-28\"><p><em>Keywords: Material possessions; experiential advantage; memory asymmetry; happiness; self-expression.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-29\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp163-187\">https:\/\/doi.org\/10.5282\/jums\/v8i1pp163-187<\/a><\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-21 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Bogner.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-22 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Bogner.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-23 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp163-187\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-30\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/a-Bogner\/\">Zur Artikel-Seite<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-18 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-31\"><p><a name=\"A10\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Critical analysis of the VAT treatment of vouchers since the annual Tax Act 2018<\/h5>\n<p>Carina Menhofer, Hochschule f\u00fcr angewandte Wissenschaften Augsburg (Master thesis)<br \/>\nJunior Management Science 8(1), 2023, 188-218<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-9\"><div class=\"fusion-panel panel-default panel-720914538a1c10308 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_720914538a1c10308\"><a aria-expanded=\"false\" aria-controls=\"720914538a1c10308\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-9\" data-target=\"#720914538a1c10308\" href=\"#720914538a1c10308\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"720914538a1c10308\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_720914538a1c10308\"><div class=\"panel-body toggle-content fusion-clearfix\">\nVouchers are used in many different ways in numerous sectors and, in addition to the classic target group of end consumers, can now be observed throughout the entire service chain. The issuance of vouchers enables companies to generate liquid funds without providing any service immediately, so they have become very important for the economy. In the past, the VAT treatment of vouchers was characterized by legal uncertainties due to a lack of harmonization. The so-called Voucher Directive was intended to standardize the VAT treatment of vouchers within the EU member states. The aim of this paper is to analyze the implementation of the Voucher Directive into national law with the Annual Tax Act 2018 as well as the corresponding letter of the German Ministry of Finance with regard to its application in practice. In doing so, the scientific literature, case law, legislation and administrative regulations on the VAT treatment of vouchers are consulted. The work gives an overview of the tax treatment and points out problem areas as well as structuring possibilities. In this context, the temporary VAT reduction in connection with the Corona crisis and its effects are also addressed. The results show that an European regulation on the VAT treatment of vouchers is in principle to be viewed positively. However, numerous legal uncertainties remain with regard to the classification of vouchers and its assessment in general.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-32\"><p><em>Keywords: VAT; single purpose voucher; multi purpose voucher; voucher directive.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-33\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp188-218<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-24 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Menhofer.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-25 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Menhofer.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-26 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp188-218\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-34\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/c-menhofer\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-19 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-35\"><p><a name=\"A3\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Is Cash (the only) King? \u2013 A critical analysis of the relevance of Cashflow figures according to IAS 7<\/h5>\n<p>Jonas P\u00fctter, Heinrich-Heine-Universit\u00e4t D\u00fcsseldorf (Bachelor thesis)<br \/>\nJunior Management Science 8(1), 2023, 219-236<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-10\"><div class=\"fusion-panel panel-default panel-cde518ece180b64bc fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_cde518ece180b64bc\"><a aria-expanded=\"false\" aria-controls=\"cde518ece180b64bc\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-10\" data-target=\"#cde518ece180b64bc\" href=\"#cde518ece180b64bc\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"cde518ece180b64bc\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_cde518ece180b64bc\"><div class=\"panel-body toggle-content fusion-clearfix\">\nWhen accountants or academics state \u201eCash is King\u201c, they usually want to emphasize the practical relevance of Cashflow figures for external addressees of annual financial statements. In particular, Cashflow figures are considered relatively free from accounting policy measures and therefore appear to be particularly suitable indicators for measuring corporate success. Within this article, the actual relevance of Cashflow figures according to IAS 7 is evaluated. For this purpose, the influence of accounting policy measures on Cashflow figures according to IAS 7 is assessed. In addition, literature is examined that directly compares the ability of Cashflow figures and earnings figures to represent the success of a company. An important result of this article is that companies reduce the informative value of their Cashflow statement, when they decide to use the indirect method for the Cashflow from operating activities. For this reason, an obligation to use the direct method, when presenting the Cashflow from operating activities, would be desirable.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-36\"><p><em>Keywords: IAS 7; Cashflow; Cashflow statement; accounting policy.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-37\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp219-236<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-27 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/BA_Puetter.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-28 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp219-236\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-38\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/j-puetter\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-20 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-39\"><p><a name=\"A5\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Do birds of a feather always flock together? A multidimensional examination of homophily in crowdfunding<\/h5>\n<p>Markus Klepsch, Technische Universit\u00e4t M\u00fcnchen (Master thesis)<br \/>\nJunior Management Science 8(1), 2023, 237-269<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-53502-11\"><div class=\"fusion-panel panel-default panel-7dab9077dfb44865b fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_7dab9077dfb44865b\"><a aria-expanded=\"false\" aria-controls=\"7dab9077dfb44865b\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-53502-11\" data-target=\"#7dab9077dfb44865b\" href=\"#7dab9077dfb44865b\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"7dab9077dfb44865b\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_7dab9077dfb44865b\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<span role=\"\" data-sheets-value=\"{\" data-sheets-userformat=\"{\">Homophily\u2014the tendency of individuals to associate with similar others\u2014is one of the most persistent findings in research on interpersonal interaction. Literature has recently also studied the impact of homophily in crowdfunding markets (Greenberg &amp; Mollick, 2017). While these results offer valuable insights into the dimension sex, homophily is a multidimensional con-struct in theory (McPherson, Smith-Lovin, &amp; Cook, 2001). Therefore, I employ homophily theorizing by analyzing to what extent homophily influences backers\u2018 choices in crowdfunding regarding five different sociodemographic dimensions. To test my hypotheses, I drew upon a unique dataset of roughly 3.5 million backings made on the crowdfunding platform Indie-gogo. My results suggest that individuals make homophilic choices with respect to age, sex, occupation, and location. While my findings thus confirm that, in large, homophily plays an essential role in individual choices, I extend the literature by showing that it is not always as clear-cut. The more complex the dimension, the more difficult it is to judge. Specifically, I show that in the dimension race, where a plethora of possible combinations leads to a certain degree of complexity, there is no simple \u2018yes\u2019 or \u2018no\u2019 answer to whether homophily influences the decision. Instead, significant differences can be observed depending on the specific race under consideration.<\/span><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-40\"><p><em>Keywords: Crowdfunding; Indiegogo; Homophily.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-41\"><p><em>DOI: https:\/\/doi.org\/10.5282\/jums\/v8i1pp237-269<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-29 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/MA_Klepsch.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-30 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2023\/03\/A_Klepsch.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-31 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/doi.org\/10.5282\/jums\/v8i1pp237-269\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-42\" style=\"--awb-line-height:0.1;\"><p style=\"text-align: right; margin-top: 25px;\"><a href=\"https:\/\/jums.academy\/en\/m-klepsch\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2071,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-53502","page","type-page","status-publish","hentry"],"jetpack_shortlink":"https:\/\/wp.me\/P7lBbr-dUW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/53502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/users\/2071"}],"replies":[{"embeddable":true,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/comments?post=53502"}],"version-history":[{"count":7,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/53502\/revisions"}],"predecessor-version":[{"id":54458,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/53502\/revisions\/54458"}],"wp:attachment":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/media?parent=53502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}