Der Megatrend „Digitalisierung“ hat die Verbreitung von Informationen und deren Verarbeitung durch Stakeholder grundlegend verändert. Unternehmen weltweit stehen deshalb vor der Aufgabe, ihre Finanzkommunikation neu zu gestalten und dabei digitale Kanäle zu nutzen. Der Austrian Digital Communication Award 2024 zeichnet in diesem Zusammenhang Unternehmen aus, die diese Aufgabe besonders erfolgreich meistern. Österreichische und deutsche Unternehmen nutzen bereits verschiedene digitale Kanäle, um mit ihren Stakeholdern zu kommunizieren. Dennoch existiert vielfach noch Verbesserungspotenzial. Digitale Trends wie CEO-Videos, die Zusammenarbeit mit Finfluencern und der Einsatz generativer Künstlicher Intelligenz bieten zusätzliche Chancen für eine moderne und zukunftsfähige Finanzkommunikation.

In light of the energy crisis following the Russian invasion of Ukraine, policymakers postulated to lower fossil fuel consumption. Focusing on Europe, we analyze whether domestic energy consumption was reduced in the past because of increased geopolitical risk (GPR) in fossil fuel supplier countries. For this purpose, we adopt an aggregate GPR measure that combines information on GPR in supplier countries with rich bilateral trade data for oil, natural gas, and coal. We estimate the impact of GPR related to fossil fuel imports utilizing an instrumental variable approach and a growth-energy use model. Our results indicate that during the period 2000–2019, increased GPR in coal supplier countries entailed reductions in both coal and total energy consumption. Moreover, economic growth effects on fossil fuel consumption were partly reduced by risks related to coal and natural gas imports. Similarly, if mediated by a high domestic import dependency or government effectiveness, GPR partly lowered the consumption of coal and natural gas. Regarding the energy transition, we find indications of a partial shift from fossil fuels to renewable energy in response to GPR abroad. That is, concurrent to the partial reduction in fossil fuel consumption, GPR in coal supplier countries increased renewable energy consumption.

Markets for corporate control can foster innovation and growth due to the reallocation of resources and are thus vital for the efficiency of global economies. But, to efficiently reallocate resources, markets for corporate control have to be efficient themselves. The aim of this dissertation is to shed light on both, inefficiencies such as persistent principle-agent conflicts and the effect of the regulatory environment on corporate transactions in Germany. The first section serves as an introduction to reflect on research regarding corporate transactions, the principle- agent theory and market regulations as well as to summarize the three research papers and their current publication status. The first paper focusses on the effect of personal preferences of target CEOs on corporate transactions and is presented in the second section. Based on these insights, the second paper is dedicated to Fairness Opinions and their effect on corporate transactions and is presented in the third section. To further analyze the regulatory environment, the third paper focusses on legal thresholds that bidders have to surpass to gain full control over targets in the German market for corporate control and is presented in the fourth section.

Purpose/Rationale European elite football often fails to translate its economic success story and revenue growth into financially viable businesses. This paper aims to extend the current research on financial performance in European football, adding a significant but missing pan-European comparison to the research field. It analyzes the bankruptcy likelihood of clubs in four leading European football leagues from 2017–2022. Approach We use Altman’s Z-Score to assess the financial risks of 88 clubs in England (28), Spain (23), Germany (17), and Italy (20) that played in the national top division for at least one season during the period under review. Panel regression is used to assess the impact of five performance variables on Z-Scores. Data were sourced from dissecting clubs’ annual accounts and extracted from other football financial databases. Findings The results show significant financial distress across European football clubs. The analysis emphasizes that the COVID pandemic has exacerbated clubs’ financial challenges, but not caused them. However, the absence of spectators due to COVID restrictions did aggravate the situation, as stadium utilization positively correlated to Z-Scores. Fixed-effects panel regressions show that a balanced wages-to-revenue ratio is a critical performance metric for improving Z-Scores. Practical Implications European football needs collective governance efforts to enforce stricter financial discipline post-COVID and remedy its financial situation. Research Contribution The findings have significant implications for policymakers, club managers, and investors, highlighting the financial risks across Europe’s the four leading football leagues. Originality This first pan-European analysis compares clubs across different geographies, thus extending existing country-view work/approaches.

Artificial intelligence (AI) emerges as a promising technology to address burgeoning challenges resulting from shifting demographics, coupled with a shortage of qualified personnel. Thus, the adoption of AI creates especially interest within the talent acquisition (TA) domain to realize anticipated efficiency gains. However, evidence suggests that AI adoption may foster the emergence of harmful forms of practices (HFP) within TA practices. Despite the importance, respective empirical studies collecting data to generate insights remain sparse. Thus, the aim of this study is to investigate HFP and underlying drivers through a mixed-method approach. At the first stage, we conducted in-depth interviews with 42 TA experts. The resulting insights informed the development of the 'Adoption of AI in TA: Framework on Negative Consequences.' This model suggests that a confluence of technological, individual, and organizational factors can result in the emergence of HFP post-AI adoption. Such potential HFP include biased decision-making, data privacy violations, and efficiency reduction. Then, we validated our qualitative findings and confirmed our hypotheses by employing a quantitative, survey-based approach with 303 valid study participants. By shedding light on potential HFP through AI adoption in TA and respective catalysts, our research empowers both information technology and TA professionals to proactively engage in mitigation strategies. In this vein, they may successfully navigate the complex landscape of AI adoption. Hence, this study adds to research on effective AI adoption in TA.