Vienna University of Economics and Business
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BSF4ooRexx 6.41 Going GA
Get PDFThis presentation gives a bird eye's overview of BSF4ooRexx, the ooRexx-Java bridge which camouflages Java as ooRexx and is available for Windows, Linux and MacOS. It will present the most important changes that have gone into it since the last "general available" (GA) release and gives an outlook to the planned features of the next version
Social added value of inpatient nursing and care facilities in Lower Austria and Styria
Get PDFThe NPO & SE Competence Center was commissioned by the Federal Association of Nursing and Care Homes in Austria to analyse the social and economic impacts of inpatient nursing and care facilities in Lower Austria and Styria. The observation period refers to the year 2013.
The evaluation was carried out by means of an SROI analysis, the aim of which is to record and evaluate the social added value created by the inpatient nursing and care facilities as comprehensively as possible.
In 2021, the study report was translated into English and slightly abbreviated in this process. While all findings of Lower Austria are presented in detail, the findings of Styria have been summarized
Building blocks of communication networks in times of crises: Emotion-exchange motifs
Get PDFIn this paper, we discuss how emotional messages sent during crisis events shape the communication patterns on Twitter. To this end, we analyzed a data-set consisting of 23.3 million tweets that have been sent during eighteen different crisis events in ten different countries. In particular, we use the novel concept of emotion-exchange motifs to uncover the elementary building blocks of complex emotion-exchange networks. Our results show that not all negative emotions are exchanged in the same way, nor do they result in the same communication structures. For example, we found that there is a specific set of emotions which are sent in response to messages including sadness and disgust (e.g., sadness attracts joy/love, while disgust attracts anger). The exchange of fear, on the other hand, is highly representative for its reciprocity and is highly associated with an information seeking behavior. We also found that the expression of positivity is characteristic for the emergence of a cyclic triad communication pattern. In contrast, the exchange of negative emotions is characteristic for a triadic communication structure that not only shows a broadcasting behavior but also reciprocity. Compared to single-emotion exchanges within a triadic pattern, the exchange of a mixture of emotions leads to more complex communication structures
Market reactions of multinationals to the OECD BEPS Action Plan
Get PDFThis paper investigates the equity market reactions to the publication of the OECD BEPS Action Plan. We examine abnormal stock returns for firms incorporated and traded on the stock market in 36 OECD member states for various event dates during the developmental phase of the OECD BEPS Action Plan. Overall, we find a negative market reaction of multinational companies across the relevant events, which suggests that the additional tax costs from limiting tax avoiding behaviour outweigh the benefits such as more transparency, better international tax dispute resolution, etc related to the introduction of the OECD BEPS Action Plan. The conclusion of the Multilateral Instrument (MLI) results in the most negative cumulative reaction. US corporations show a significant negative mean return across all events, but we find less pronounced evidence for market reactions across the European Union (EU). We find that more tax avoiding firms have stronger negative reactions to the events than less tax avoiding firms. Additionally, we show that there are some spill over effects onto the equity markets for purely domestic firms. We provide first evidence as to how investors reacted to the introduction of the OECD BEPS Action Plan and contribute to the literature by further investigating the association between tax avoidance and stock return.Series: WU International Taxation Research Paper Serie
Distributed ledger technologies for securities settlement – the case for running T2S on DLT
Get PDFWith a view to developing the Eurosystem’s TARGET2-Securities (T2S) system further, we propose a system based on distributed ledger technology (DLT) that covers all major T2S settlement functionalities and investigate it with regard to regulatory compliance, performance, cost efficiency and risk. The system we propose is a federated system comprising European central banks and central securities depositories (CSDs) as node operators. The role of the central banks is to maintain the cash accounts; provide regulatory-approved “smart contract factories” defining workflows for securities issuance, lifecycle management and matching, settlement, auto-collateralization and corporate actions; and perform the oversight function. The CSDs maintain securities accounts, offer notary services for issuers, perform corporate actions, and carry out settlement. CSD nodes collect settlement requests from external trading and clearing systems, forward them to other CSDs for cross-border settlement, bundle them into transaction blocks and prepare the blocks for settlement. The ensuing ledger updates occur via a fully automated consensus process between the central banks. In T2S on DLT, specialized smart contracts provide the flexibility to settle a range of digitally represented assets, define novel workflows – and allow for variable settlement times. Rather than having to conform to a uniform settlement time of T+2, participants can choose among smart contracts that settle within seconds or longer periods of time. This feature is expected to reduce capital costs and, given the DLT-based enforcement of settlement discipline, settlement failures. Apart from conforming to the current regulatory requirements, the DLT framework also enables the central banks and authorized actors to conduct status checks at a granular level and in real time
Central banking for a social-ecological transformation
Get PDFIn the perspective of a social-ecological transformation, this article sets the discussion on the future of central banking back in the context of ecological limits to growth. It first surveys the literature on proposals to introduce sustainability in central banking. It then draws from the conceptualization of money as a social relation to discuss central banks’ mandates, independence, governance and instruments. This article therefore adopts a normative stance. Central banks should be politically accountable with a renewed governance and committees composition. In line with the endogenous nature of money, their mandate needs not to include price stability and should focus on fostering full employment, social cohesion and relevant economic development within the ecological limits of the planet. Three policy instruments are then discussed to shift the nature of central banks’ operations responsive to prescriptive: differentiated target interest rates, credit control and qualitative tightening in assets purchasing programs.Series: Ecological Economic Paper
The Signal Value of Crowdfunded Products
Get PDFCrowdfunding has emerged as an alternative means of financing new ventures by utilizing the financial support of a large group of individual investors. This research asks a novel question: Does being crowdfunded carry any signal value for the broader market of observing consumers? Seven studies reveal a consumer preference for crowdfunded products, even after controlling for a product’s objective product characteristics. The authors identify two inferences that help explain this effect: (1) consumers perceive crowdfunded products to be of higher quality, and (2) they believe that supporting crowdfunding reduces inequality in the marketplace. The authors further document an important boundary condition of the first inference: the identified effect reverses in high-risk domains (e.g., products that involve high physical risk) due to consumer perceptions that the crowdfunding model lacks sufficient professionalism to mitigate risk. With regard to the second inference, the authors find that the positive crowdfunding effect is particularly strong among consumers who value social equality. Taken together, this work sheds new light on consumer perceptions of crowdfunding, elucidates why and when consumers prefer crowdfunded products, and offers actionable implications for managers
From planetary to societal boundaries: an argument for collectively defined self-limitation
Get PDFThe planetary boundaries concept has profoundly changed the vocabulary and representation of global environmental issues. We bring a critical social science perspective to this framework through the notion of societal boundaries and aim to provide a more nuanced understanding of the social nature of thresholds. We start by highlighting the strengths and weaknesses of planetary boundaries from a social science perspective. We then focus on capitalist societies as a heuristic for discussing the expansionary dynamics, power relations, and lock-ins of modern societies that impel highly unsustainable societal relations with nature. While formulating societal boundaries implies a controversial process ‒ based on normative judgments, ethical concerns, and socio-political struggles ‒ it has the potential to offer guidelines for a just, social-ecological transformation. Collective autonomy and the politics of self-limitation are key elements of societal boundaries and are linked to important proposals and pluriverse experiences to integrate well-being and boundaries. The role of the state and propositions for radical alternative approaches to well-being have particular importance. We conclude with reflections on social freedom, defined as the right not to live at others’ expense. Toward the aim of defining boundaries through transdisciplinary and democratic processes, we seek to open a dialogue on these issues
“Corporate Sustainability” or “Corporate Social Responsibility”? A Comparative Study of Spanish and Latin American Companies’ Websites
Get PDFThis study aims to compare how leading companies in Spain and in Spanish-speaking Latin America communicate corporate social responsibility or sustainability on their web pages. For this purpose, the pages of 68 companies were examined to establish the accessibility of such topics and to trace how their prominence and wording had evolved over time. The results show a trend toward greater uniformity in both Spain and Latin America, with corporate social responsibility/sustainability discourse gaining in prominence and “responsibility”-related terms being gradually replaced by those related to “sustainability.” Various cases hint that changes in terminology may be unrelated to any clear distinction between both terms
Responsible leadership during international assignments: a novel approach toward expatriation success
Get PDFAdopting a responsible leadership (RL) lens and drawing on intergroup behavior and social identity theory, we analyze a sample of 111 expatriates using partial least squares structural equation modeling (PLS-SEM). Our findings indicate that RL enacted by host-country supervisors is positively associated with international assignees’ cross-cultural adjustment and affective well-being at work, in turn leading to better expatriate performance. RL may thus facilitate adjustment and well-being in the host country. We emphasize the support potential when expatriates’ supervisors are guided by a strong values foundation and exhibit stakeholder engagement. In this way, we aim to provide a perspective for studying leadership dynamics in the expatriation context that goes beyond leader-follower dyads within organizations. We believe that expatriation research can benefit from adopting a broader stakeholder view on leadership that considers business-society interrelations and outline some direction that might take