Fachbereiche
Filtern
Dokumenttyp
- Wissenschaftlicher Artikel (30)
- Teil eines Buches (Kapitel) (6)
- Buch (Monographie) (3)
- Konferenzveröffentlichung (3)
- Preprint (2)
- Masterarbeit (1)
Schlagworte
Institut
- Fachbereiche (45)
- Wirtschaftsrecht (4)
This article analyses the early years of the history of the Bundesbank from a history of economic thought perspective. The study uses the example of Bernhard Benning, who headed the Economics Department of the Reichs-Kredit-Gesellschaft, one of the major banks owned by the German Reich during the National Socialist era. After the war Benning was appointed a member of the board of directors of the Deutsche Bundesbank for twenty-two years. As a student of Adolf Weber and his Munich school of economics, Benning's views were shaped by classical liberal rather than ordoliberal ideas. His legitimacy in postwar Germany stemmed from his public opposition to war financing and warnings about inflation during the Donner-Benning Debate of 1942–43. In this tradition, the early Bundesbank was Weberian rather than ordoliberal, so, for instance, fixed exchange rates were favored, and a strong business and investment perspective was adopted.
The precision of yield calculation of modern design and simulation software for photovoltaic systems strongly rely, beside the accuracy of the specified module and inverter data, on the quality of the weather data. Since data from weather stations is not available for most locations world-wide this data is calculated by using modern interpolation methods. Beside this, simulation software typically uses historical weather data. In this work the mismatch of yield simulation results based on proprietary data, meaning interpolated or also called synthetical data, and data coming from a weather station in proximity to the installation is evaluated. The simulated data sets are compared to measurement data as obtained by the inverter output and hence give a profound understanding how interpolated data may influence the simulation results. The outcome shows that the quality of the yield simulation, if compared to the measurement data, is increased by a factor of up to four if on-site weather data is used as input for the simulation. The largest source of deviation is irradiation, which varies up to 10% if synthetical and measured irradiation on-site is compared. The second largest sources for simulation mismatches are power calculation and module temperature correction.
The emergence of digital technologies over the past two decades has brought about changes that threaten the very existence of german media companies. The journalistic business model is losing sales, and the decline in print circulations is making it successively difficult to earn money with journalistic products. Therefore, german media companies have been investing in business models that have no relation to journalism to generate growth for years – with success. Considering this development, it is astonishing from a purely economic perspective that media groups, which are increasingly developing into technology companies, are still clinging to the ailing journalistic business model at all. To examine their motives to do so, this study poses the following research question: "Why do media companies still invest in journalistic products today?" To answer it, the researcher conducted interviews with highlevel employees from media companies as part of a qualitative study. Analysis of the data revealed that media companies continue to invest in journalism mainly because they benefit economically from the brands their journalistic products represent. Other reasons like serving as a pillar of the democratic constitution or to help shape public discourse seem to be less important.
The question of the optimal design of financial systems, whether more bank-based or more market-based, has a long history. Four phases of the discussion can be distinguished: Before World War I, in the rivalry between Germany and England, the debate begins. Across the spectrum, from the liberal Adolf Weber to the Marxist Rudolf Hilferding and the eclectic Joseph Schumpeter, comparisons were made, and the heterogenous authors arrived at similar assessments. During the Cold War, in contrast to the Soviet-Russian model, Alexander Gerschenkron’s depiction with the advantages of backwardness became influential. After the 1990s and in line with the Varieties of Capitalism approach, the discussion led by Ross Levine resulted in a consensus where different financial systems were embedded in their broader institutional context. The current discussion attempts to prove the superiority of capital markets, pointing to the American system as example.
The European Sustainable Finance regulation is primarily focused on capital markets, requiring companies to disclose extensive data. However, these regulations pose challenges for German SMEs, which rely heavily on bank financing. A survey showed that 60% of SMEs invest in sustainability, but external financing remains limited. The EU's approach may need adjustments, such as creating a voluntary sustainability reporting standard for SMEs and developing a streamlined approach for green loans.
