{"id":64586,"date":"2026-09-16T17:11:00","date_gmt":"2026-09-16T17:11:00","guid":{"rendered":"https:\/\/jums.academy\/v10i4-3\/"},"modified":"2026-09-16T18:14:33","modified_gmt":"2026-09-16T18:14:33","slug":"v10i4-3-3","status":"publish","type":"page","link":"https:\/\/jums.academy\/en\/v10i4-3-3\/","title":{"rendered":"v11i3"},"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-64586-1\"><div class=\"fusion-panel panel-default panel-769ae411d99ae42cc fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_769ae411d99ae42cc\"><a aria-expanded=\"false\" aria-controls=\"769ae411d99ae42cc\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-1\" data-target=\"#769ae411d99ae42cc\" href=\"#769ae411d99ae42cc\"><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=\"769ae411d99ae42cc\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_769ae411d99ae42cc\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<ul style=\"list-style-type: none;\">\n<li><a href=\"https:\/\/jums.academy\/en\/v11i3\/\">Junior Management Science, Volume 11, Issue 3, September 2026<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v11i2\/\">Junior Management Science, Volume 11, Issue 2, July 2026<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i4-3-2\/\">Junior Management Science, Volume 11, Issue 1, April 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-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 11, Issue 3, September 2026<\/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=\"212\" height=\"300\" title=\"Deckblatt_v11i3\" src=\"https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2026\/09\/Deckblatt_v11i3-pdf.jpg?resize=212%2C300&#038;ssl=1\" alt class=\"img-responsive wp-image-64630\"\/><\/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-1\"><ol>\n<li><a href=\"#A1\"><strong>Jonas Michael Berken<\/strong>, Sustainability Metrics in Controlling: How Corporate Digital Responsibility Becomes Measurable, 470-487<\/a><\/li>\n<li><a href=\"#A2\"><strong>Rozmari Genova<\/strong>, A Tax Analysis of Direct Investments in Bulgaria Versus Business Expansion in Germany for Medium-Sized Companies, 488-512<\/a><\/li>\n<li><a href=\"#A3\"><strong>Paul Lehmann<\/strong>, CEO Narcissism and Stock Market Reactions: An Empirical Analysis, 513-531<\/a><\/li>\n<li><a href=\"#A4\"><strong>Simon E. Liedtke<\/strong>, Economic Policy Uncertainty and Investment: Cross-Country Evidence, 532-550<\/a><\/li>\n<li><a href=\"#A5\"><strong>Jan Patrick Tollk\u00fchn<\/strong>, Breaking the Glass Ceiling: The Effects on Perceived Equality of Women Joining the Management Board, 551-560<\/a><\/li>\n<li><a href=\"#A6\"><strong>Felix Maximilian Kania<\/strong>, Toward Reliable Emission Reporting: A Comparative Study of GHGRP Self-Reports and Climate TRACE Satellite Data, 561-597<\/a><\/li>\n<li><a href=\"#A7\"><strong>Roya Kazimova<\/strong>, Experimental Analysis of Gender Bias in Hiring within STEM Fields, 598-610<\/a><\/li>\n<li><a href=\"#A8\"><strong>Lars Kiehne<\/strong>, The Influence of Perceived Undervaluation on the Duration of Share Repurchase Programmes, 611-641<\/a><\/li>\n<li><a href=\"#A9\"><strong>Christoph Rehrl<\/strong>, Firm-wide Effects of Earnings Stripping Rules, 642-670<\/a><\/li>\n<li><a href=\"#A10\"><strong>Thomas Zimmermann<\/strong>, The Impact of Various Expert Groups on German Income Tax Legislation: An Analysis of Written Statements, 671-691<\/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-button-wrapper fusion-aligncenter fusion-align-inline-medium\"><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\/2026\/09\/JUMS_Volume11_Issue3_2026.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-button-wrapper 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\/submit\/\"><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-button-wrapper 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-2\"><p><a name=\"A1\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Sustainability Metrics in Controlling: How Corporate Digital Responsibility Becomes Measurable<\/h5>\n<p>Jonas Michael Berken, Heinrich-Heine-Universit\u00e4t D\u00fcsseldorf (Bachelor Thesis)<br \/>Junior Management Science 11(3), 2026, 470-487<\/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-64586-2\"><div class=\"fusion-panel panel-default panel-417bcc63eebe13210 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_417bcc63eebe13210\"><a aria-expanded=\"false\" aria-controls=\"417bcc63eebe13210\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-2\" data-target=\"#417bcc63eebe13210\" href=\"#417bcc63eebe13210\"><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=\"417bcc63eebe13210\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_417bcc63eebe13210\"><div class=\"panel-body toggle-content fusion-clearfix\">\nDigitalization is leading to profound changes in business models, companies, and entire industries. In light of these changes, the traditional understanding of corporate responsibility is increasingly being challenged. This is primarily due to the new, far-reaching, and partly unpredictable effects arising from the use of digital technologies by companies. Corporate Digital Responsibility (CDR) addresses these effects by extending corporate responsibility to areas such as data protection, digital diversity, and cybersecurity. Nevertheless, linking CDR with economic success remains a major challenge for companies. Controlling can make a significant contribution in this regard if performance in CDR-specific areas of responsibility can be measured through appropriate sustainability metrics. Against this backdrop, this thesis examines existing sustainability controlling instruments and metrics for CDR-specific performance measurement based on a literature review. Building on these findings, a CDR Balanced Scorecard is developed that illustrates cause-and-effect relationships between CDR and economic success and demonstrates a strategic management approach for steering CDR-specific areas of responsibility.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-3\"><p><em>Keywords: corporate digital responsibility; sustainability performance measurement; sustainability balanced scorecard; sustainability metrics.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-4\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp470-487\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp470-487<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/BA_Berken.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp470-487\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-5\"><p><a name=\"A2\"><\/a><\/p>\n<h5 style=\"text-align: left;\">A Tax Analysis of Direct Investments in Bulgaria Versus Business Expansion in Germany for Medium-Sized Companies<\/h5>\n<p>Rozmari Genova, Europa-Universit\u00e4t Viadrina Frankfurt (Oder) (Master Thesis)<br \/>Junior Management Science 11(3), 2026, 488-512<\/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-64586-3\"><div class=\"fusion-panel panel-default panel-6c41f97cdd1627a4f fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_6c41f97cdd1627a4f\"><a aria-expanded=\"false\" aria-controls=\"6c41f97cdd1627a4f\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-3\" data-target=\"#6c41f97cdd1627a4f\" href=\"#6c41f97cdd1627a4f\"><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=\"6c41f97cdd1627a4f\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_6c41f97cdd1627a4f\"><div class=\"panel-body toggle-content fusion-clearfix\">\nEastern European countries are becoming increasingly important for German medium-sized enterprises, with Bulgaria emerging as a relevant investment destination. Against this background, this thesis examines whether direct investment in Bulgaria provides tax advantages compared to domestic business expansion in Germany, focusing on the quantification of tax burden differences. Three forms of direct investment are analysed: a permanent establishment, a partnership, and a corporation. Based on an analysis of relevant tax frameworks in both countries and the applicable tax treaty, a five-year Monte Carlo simulation covering profit and loss scenarios is conducted to assess industry-independent tax effects of a Bulgarian direct investment compared to a domestic expansion. The results show that investment in Bulgaria is generally more tax-efficient, particularly when structured as a permanent establishment (average tax benefit: 26.83% in profit scenario). In loss periods, however, the foreign investment leads to a higher tax burden than the domestic case. The analysis underlines Bulgaria&#8217;s tax potential for German medium-sized companies while emphasizing realistic tax planning and company- and location-specific factors in cross-border investment decisions.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-6\"><p><em>Keywords: foreign direct investment; international taxation; Monte Carlo simulation; domestic business expansion; tax treaty law; Germany\u2013Bulgaria tax comparison.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-7\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp488-512\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp488-512<\/a><\/em><\/p>\n<p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/09\/MA_Genova.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/MA_Genova_Appendix.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp488-512\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-8\"><p><a name=\"A3\"><\/a><\/p>\n<\/p>\n<h5 style=\"text-align: left;\">CEO Narcissism and Stock Market Reactions: An Empirical Analysis<\/h5>\n<\/p>\n<p>Paul Lehmann, Technische Universit\u00e4t Dresden (Bachelorarbeit)<br \/>\nJunior Management Science 11(3), 2026, 513-531<\/p>\n<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-64586-4\"><div class=\"fusion-panel panel-default panel-89ecaf12ac1d92edd fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_89ecaf12ac1d92edd\"><a aria-expanded=\"false\" aria-controls=\"89ecaf12ac1d92edd\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-4\" data-target=\"#89ecaf12ac1d92edd\" href=\"#89ecaf12ac1d92edd\"><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=\"89ecaf12ac1d92edd\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_89ecaf12ac1d92edd\"><div class=\"panel-body toggle-content fusion-clearfix\">This bachelor thesis examines how stock markets react to CEO turnover events involving narcissistic leaders. CEO signature size is utilized as an unobtrusive, archival proxy for narcissism, and data from 341 NASDAQ-listed firms over the period 2004\u20132024 is analyzed. An event study methodology is applied, with cumulative abnormal returns (CAR) calculated over a (-2, +2) day window surrounding CEO appointment announcements. Regression analyses with robust standard errors are conducted to assess the relationship between CEO narcissism and stock market reactions. The results indicate that no significant relationship exists between CEO narcissism and stock price reactions at the time of appointment. However, CEO duality\u2014where the newly appointed CEO also serves as board chair, signifying concentrated power\u2014is found to be a significant predictor of negative market reactions. These findings suggest that investors prioritize governance structures over individual personality traits when assessing CEO appointments. It is concluded that corporate governance considerations play a more decisive role than CEO characteristics in shaping shareholder sentiment during turnover events. Since shareholders, through general meetings or proxy statements, vote on the appointment and removal of directors who select the CEO, the thesis researches whether investor preferences influence the demand for narcissistic leadership by analyzing stock market reactions to CEO appointments.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-9\"><p><em>Keywords: CEO narcissism; CEO turnover; shareholder value; upper echelons theory.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-10\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp513-531\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp513-531<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/03\/BA_Lehmann.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp513-531\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-11\"><p><a name=\"A4\"><\/a><\/p>\n<\/p>\n<h5 style=\"text-align: left;\">Economic Policy Uncertainty and Investment: Cross-Country Evidence<\/h5>\n<\/p>\n<p>Simon E. Liedtke, Humboldt-Universit\u00e4t zu Berlin (Bachelorarbeit)<br \/>\nJunior Management Science 11(3), 2026, 532-550<\/p>\n<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-64586-5\"><div class=\"fusion-panel panel-default panel-fd3525beddd75ca17 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_fd3525beddd75ca17\"><a aria-expanded=\"false\" aria-controls=\"fd3525beddd75ca17\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-5\" data-target=\"#fd3525beddd75ca17\" href=\"#fd3525beddd75ca17\"><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=\"fd3525beddd75ca17\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_fd3525beddd75ca17\"><div class=\"panel-body toggle-content fusion-clearfix\">When investment is partially irreversible, uncertainty raises the option value of waiting and can delay investment. Yet evidence on the effects of economic policy uncertainty (EPU) remains predominantly US-based. This paper examines whether the negative EPU-investment relationship generalizes across countries. Using firm-level data for 25 countries from 1991 to 2024, the analysis estimates fixed-effects regressions of subsequent capital expenditures on the EPU index. A doubling in EPU is associated with a 10.8% decline in quarterly investment and a 14.9% decline in annual investment, on average. The negative association is widespread across countries and is particularly strong among firms with more irreversible investment, consistent with real options theory. However, the relationship varies substantially in magnitude across national settings with a minority of countries even exhibiting significant positive associations. These findings suggest that policy uncertainty is a broadly relevant determinant of corporate investment, while indicating that firms&#8216; responses depend on country-specific conditions.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-12\"><p><em>Keywords: economic policy uncertainty; corporate investment; real options theory; cross-country evidence.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-13\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp532-550\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp532-550<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/09\/BA_Liedtke.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/BA_Liedtke_Appendix.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp532-550\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-14\"><p><a name=\"A5\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Breaking the Glass Ceiling: The Effects on Perceived Equality of Women Joining the Management Board<\/h5>\n<p>Jan Patrick Tollk\u00fchn, Bocconi University (Bachelorarbeit)<br \/>Junior Management Science 11(3), 2026, 551-560<\/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-64586-6\"><div class=\"fusion-panel panel-default panel-7581a08aa413d59d4 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_7581a08aa413d59d4\"><a aria-expanded=\"false\" aria-controls=\"7581a08aa413d59d4\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-6\" data-target=\"#7581a08aa413d59d4\" href=\"#7581a08aa413d59d4\"><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=\"7581a08aa413d59d4\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_7581a08aa413d59d4\"><div class=\"panel-body toggle-content fusion-clearfix\">Recent years have seen women being appointed to board positions at the highest rate ever, supported by awareness of gender inequality and increased regulatory pressure. While external effects of diversity have been explored, changes in internal perceptions remain unexplored. Using a sample of 76,240 ratings on the employer review site Kununu, this study explores the impact of women joining the management board of DAX40 firms for the first time in Germany. To test the effect, a staggered event study with time and firm fixed effects is utilised. The results show that there is an increase in gender equality perception in the quarters following the appointment, with the increase being most significant in the second and third quarters. The identification of non-significant results in the fourth quarter suggests a normalisation effect. The findings outline how changes in leadership shape internal perceptions of equality.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-15\"><p><em>Keywords: board gender diversity; employee reviews; employee perceptions; corporate governance; event study.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-16\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp551-560\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp551-560<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/09\/BA_Tollkuhn.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/BA_Tollkuhn_Appendix.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp551-560\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-17\"><p><a name=\"A6\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Toward Reliable Emission Reporting: A Comparative Study of GHGRP Self-Reports and Climate TRACE Satellite Data<\/h5>\n<p>Felix Maximilian Kania, Technische Universit\u00e4t M\u00fcnchen (Masterarbeit)<br \/>Junior Management Science 11(3), 2026, 561-597<\/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-64586-7\"><div class=\"fusion-panel panel-default panel-8975032c8f11c8aa8 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_8975032c8f11c8aa8\"><a aria-expanded=\"false\" aria-controls=\"8975032c8f11c8aa8\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-7\" data-target=\"#8975032c8f11c8aa8\" href=\"#8975032c8f11c8aa8\"><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=\"8975032c8f11c8aa8\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_8975032c8f11c8aa8\"><div class=\"panel-body toggle-content fusion-clearfix\">Accurate and transparent greenhouse gas (GHG) emissions data is crucial for effective climate mitigation, yet existing reporting systems remain inconsistent and difficult to verify. Carbon accounting has emerged to give structure and legitimacy to these measurement efforts by mandating rules for affected GHG emitters through programs such as the Greenhouse Gas Reporting Program (GHGRP) by the United States government. Historically, these programs have relied on self-reporting, significantly limiting the verifiability of corporate-reported data. In contrast, emerging non-profit organizations such as Climate TRACE (CT) estimate facility-level GHG emissions using satellite-based remote sensing. This study quantifies facility-level discrepancies between these datasets and identifies their key drivers. To do so, I systematically matched and compared facilities from both datasets based on reported emissions. I identified key predictors of these discrepancies using machine learning and Bayesian inference. My findings reveal that facility-specific effects drive most observed disparities, while parent-company and geographic influences play a secondary role. Industry-wide effects contribute minimally, with reporting year and total emissions volume having no significant impact. These results suggest that discrepancies stem from isolated inaccuracies rather than systemic errors, underscoring the need for hybrid verification frameworks that integrate self-reported (bottom-up) inventories with independent satellite-based monitoring (top-down) to enhance emissions transparency and accountability.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-18\"><p><em>Keywords: greenhouse gas emissions; carbon accounting; emissions monitoring; satellite remote sensing; emissions verification.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-19\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp561-597\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp561-597<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/09\/MA_Kania.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/MA_Kania_Appendix.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp561-597\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-20\"><p><a name=\"A7\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Experimental Analysis of Gender Bias in Hiring within STEM Fields<\/h5>\n<p>Roya Kazimova, Technical University of Munich (Masterarbeit)<br \/>Junior Management Science 11(3), 2026, 598-610<\/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-64586-8\"><div class=\"fusion-panel panel-default panel-8affd31e27306aa94 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_8affd31e27306aa94\"><a aria-expanded=\"false\" aria-controls=\"8affd31e27306aa94\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-8\" data-target=\"#8affd31e27306aa94\" href=\"#8affd31e27306aa94\"><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=\"8affd31e27306aa94\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_8affd31e27306aa94\"><div class=\"panel-body toggle-content fusion-clearfix\">This study investigates the presence of gender bias in students\u2018 hiring evaluations within STEM fields using a survey-based experimental design with systematically varied resumes. Students were randomly assigned to evaluate one of four fictional CVs, differing by candidate gender and qualification strength. Participants rated the applicants on competence, hireability, salary recommendation, and willingness to offer professional support. The results reveal no consistent bias in favor of male candidates; however, strong male applicants received higher salary suggestions, while female candidates were more likely to be offered professional support. These patterns are primarily driven by interactions between candidate gender and resume strength. The effects are most pronounced among participants from Eastern Europe and older participants, suggesting a role of social background in shaping perceptions. The findings highlight how implicit biases may form prior to labor market entry and underscore the need for early educational interventions to promote equitable hiring perceptions in STEM.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-21\"><p><em>Keywords: gender bias; hiring discrimination; survey experiment; resume evaluation.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-22\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp598-610\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp598-610<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/09\/MA_Kazimova.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp598-610\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-23\"><p><a name=\"A8\"><\/a><\/p>\n<h5 style=\"text-align: left;\">The Influence of Perceived Undervaluation on the Duration of Share Repurchase Programmes<\/h5>\n<p>Lars Kiehne, Humboldt-Universit\u00e4t zu Berlin (Masterarbeit)<br \/>Junior Management Science 11(3), 2026, 611-641<\/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-64586-9\"><div class=\"fusion-panel panel-default panel-3918ea9c2bbc1bd87 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_3918ea9c2bbc1bd87\"><a aria-expanded=\"false\" aria-controls=\"3918ea9c2bbc1bd87\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-9\" data-target=\"#3918ea9c2bbc1bd87\" href=\"#3918ea9c2bbc1bd87\"><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=\"3918ea9c2bbc1bd87\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_3918ea9c2bbc1bd87\"><div class=\"panel-body toggle-content fusion-clearfix\">This thesis examines whether perceived undervaluation\u2014measured using eight market-based proxies\u2014leads, ceteris paribus, to shorter share repurchase programme announcements and a higher probability of tender offers over open market repurchases. Using ordinary least squares and logistic regressions on 329 German repurchase announcements from 2016 to 2025, the analysis finds no significant link between perceived undervaluation and either programme duration or repurchase method. Instead, repurchase size and trading volume emerge as the key drivers of programme design. These results suggest that, in Germany, repurchase structures are driven more by executional factors than by perceived undervaluation. The findings contribute to the literature on corporate payout policy by providing new evidence on the informational content of repurchase programme characteristics in a European market setting.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-24\"><p><em>Keywords: share repurchases; undervaluation; open market repurchases; tender offers.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-25\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp611-641\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp611-641<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/MA_Kiehne.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/v11i3pp611-641\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-26\"><p><a name=\"A9\"><\/a><\/p>\n<h5 style=\"text-align: left;\">Firm-wide Effects of Earnings Stripping Rules<\/h5>\n<p>Christoph Rehrl, Katholische Universit\u00e4t Eichst\u00e4tt-Ingolstadt (Masterarbeit)<br \/>Junior Management Science 11(3), 2026, 642-670<\/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-64586-10\"><div class=\"fusion-panel panel-default panel-8aa9f42ffa16bbdb8 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_8aa9f42ffa16bbdb8\"><a aria-expanded=\"false\" aria-controls=\"8aa9f42ffa16bbdb8\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-10\" data-target=\"#8aa9f42ffa16bbdb8\" href=\"#8aa9f42ffa16bbdb8\"><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=\"8aa9f42ffa16bbdb8\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_8aa9f42ffa16bbdb8\"><div class=\"panel-body toggle-content fusion-clearfix\">This paper estimates the impact of the earnings stripping rule reform by the ATAD Directive on the firm-wide external debt ratio of large multinational firms in the European Union in 2019. The analysis is based on the consolidated financial statements of STOXX Europe 600 constituents in 12 different Member States between 2014 and 2022. Firms that were not subject to a limitation of total interest expenses before the reform reduced their external debt ratio by 2.1 percentage points on average, which indicates an 8.3 percent decrease based on the pre-reform average external debt ratio of treated firms. The effect is lower at 1.3 percentage points but equally significant upon variations in the control group. The estimation results indicate that firms restricted in only internal interest expenses before the reform, firms in sink tax havens, and firms in industries with naturally higher net-interest-to-EBITDA ratios were particularly strongly affected by the reform. The findings suggest that the earnings stripping rule reform in the European Union significantly affected the external tax-related debt bias of large multinational firms<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-27\"><p><em>Keywords: capital structure; earnings stripping rule; interest limitation; tax avoidance.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-28\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp642-670\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp642-670<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/MA_Rehrl.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/MA_Rehrl_Appendix.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/v11i3pp642-670\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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-29\"><p><a name=\"A10\"><\/a><\/p>\n<h5 style=\"text-align: left;\">The Impact of Various Expert Groups on German Income Tax Legislation: An Analysis of Written Statements<\/h5>\n<p>Thomas Zimmermann, Paderborn University (Master Thesis)<br \/>Junior Management Science 11(3), 2026, 671-691<\/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-64586-11\"><div class=\"fusion-panel panel-default panel-8442470fb8fcf3c0c fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_8442470fb8fcf3c0c\"><a aria-expanded=\"false\" aria-controls=\"8442470fb8fcf3c0c\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-64586-11\" data-target=\"#8442470fb8fcf3c0c\" href=\"#8442470fb8fcf3c0c\"><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=\"8442470fb8fcf3c0c\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_8442470fb8fcf3c0c\"><div class=\"panel-body toggle-content fusion-clearfix\">Despite the pivotal role of tax legislation for the economy and society, empirical research on how interest groups influence German tax legislation remains scarce. This study addresses this gap by examining international corporate tax policy. Based on 94 statements from eleven legislative procedures (2013 \u2013 2023), it analyzes the factors determining whether demands from various interest groups during expert hearings in the Finance Committee are adopted into final legislation. Methodologically, the paper combines qualitative content analysis with a quantitative probit regression. While descriptive data and initial analyses suggest varying success rates among expert groups, these differences disappear when controlling for the specific direction of the proposed changes. No significant group influence remains. The findings suggest that in the later stages of the legislative process, lawmakers select external expertise primarily based on substantive, technical criteria rather than systematically favoring specific actors. Thus, the study contributes to the political economy of taxation by highlighting the importance of technical content over pure actor power.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-30\"><p><em>Keywords: lobbyism; tax legislation; interest groups; written statements; influence.<\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-31\"><p><em>DOI: <a href=\"https:\/\/doi.org\/10.5282\/jums\/v11i3pp671-691\">https:\/\/doi.org\/10.5282\/jums\/v11i3pp671-691<\/a><\/em><\/p>\n<\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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\/2026\/09\/MA_Zimmermann.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/jums.academy\/wp-content\/uploads\/2026\/09\/MA_Zimmermann_Appendix.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read Appendix<\/span><\/a><\/div><div class=\"fusion-button-wrapper fusion-alignright fusion-align-inline-medium\"><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:\/\/doi.org\/10.5282\/jums\/v11i3pp671-691\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Cite article<\/span><\/a><\/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":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-64586","page","type-page","status-publish","hentry"],"jetpack_shortlink":"https:\/\/wp.me\/P7lBbr-gNI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/64586","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/comments?post=64586"}],"version-history":[{"count":10,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/64586\/revisions"}],"predecessor-version":[{"id":64648,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/64586\/revisions\/64648"}],"wp:attachment":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/media?parent=64586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}