Institut für Finanzmanagement

Dauerhafte URI für die Sammlunghttps://irf.fhnw.ch/handle/11654/61

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  • Publikation
    Corporate governance und corporate performance. Case study Japan
    (Springer, 2024) Kustner, Clemens; Waterstraat, Silke; Hüttche, Tobias
    After the bursting of the stock market bubble at the end of the 1980s Japan began to comprehensively reform its corporate governance system. Modernising Japan’s corporate governance system was seen as one of the key levers to making Japanese companies more profitable, faster growing and less risk-prone, with the overarching goal of revitalising the Japanese economy in the long term. The first phase of the reform lost some of its momentum in the wake of the great financial crisis that broke out in 2008. Prime Minister Abe then pushed the reform process forward again with vehemence from 2012 onwards. Abe’s reform efforts encompassed several elements, such as the reform of company law and the introduction of a corporate governance code and a stewardship code. At the same time, the Tokyo Stock Exchange has influenced the corporate governance of Japanese companies through its listing rules. From a regulatory perspective, the Japanese corporate governance system can be described as modern and efficient. However, corporate practice often lags behind. The Fujitec case study at the end of this chapter shows two things: first, how lacking the actual practice of corporate governance can be despite good rules. Second, it shows how determined shareholders today have the power to protect their interests and ensure that Japan’s modern corporate governance rules are brought to life, to the benefit of employees, shareholders and the Japanese economy as a whole.
    04A - Beitrag Sammelband
  • Publikation
    Working Capital Management - Tipps in Zeiten der Krise
    (WEKA, 2021) Waterstraat, Silke; Kustner, Clemens
    01B - Beitrag in Magazin oder Zeitung
  • Publikation
    Negativzinsen – Herausforderung im Cash-Management
    (WEKA Business Media AG, 2021) Waterstraat, Silke; Kustner, Clemens
    01B - Beitrag in Magazin oder Zeitung
  • Publikation
    Trade Finance – Finanzierung von Handelsaktivitäten
    (WEKA, 2021) Waterstraat, Silke; Kustner, Clemens
    01B - Beitrag in Magazin oder Zeitung
  • Publikation
    IFRS 9 Einführung in Banken – Implikationen für Unternehmen
    (WEKA, 2022) Waterstraat, Silke; Kustner, Clemens
    01B - Beitrag in Magazin oder Zeitung
  • Publikation
    Discounted or disrupted cash flow: impact of digitisation on company valuation
    (2019) Härri, Matthias; Hüttche, Tobias; Kustner, Clemens
    This paper discusses the impact of digitisation on Business Valuation. In order to become and remain "digital", investments are necessary whose return on investment (ROI) often remains vague. This uncertainty is contradictory for a valuation that rely on predictable cash flows, fixed capital structures and the steady state. However, digitisation does not make a company valuation impossible, but traditional approaches must be reconsidered. First and above the valuation objects – the companies – will change: Their value drivers are more and more intangible if not invisible and the business models become finite. The valuation process will change: Predictive Analysis and Planning allow valuations in real time. Thus, the values and prices will vary more than we have seen in the past. After all and at the moment, man is still needed. There are some bottlenecks, where the human brain still beats robots and algorithms, at least when it comes to cost.
    04B - Beitrag Konferenzschrift
  • Publikation
    Negativzinsen und Profitabilitätsstrategien von Retailbanken
    (ExpertSuisse, 2021) Waterstraat, Silke; Kustner, Clemens
    01A - Beitrag in wissenschaftlicher Zeitschrift
  • Publikation
    Does board composition taking account of sustainability expertise influence ESG ratings? An exploratory study of European banks
    (Springer, 2021) Waterstraat, Silke; Kustner, Clemens; Koch, Maximilian; Gerber, Aurona; Hinkelmann, Knut
    04B - Beitrag Konferenzschrift
  • Publikation
    Optimizing Internal Financial Reporting
    (2018) Krings, Ulrich; Müller, Thomas; Kustner, Clemens; Baumann, Michael
    Corporate reporting undoubtedly plays a major part in supporting decision-making by company management. In addition to contents of the reports, the way the reports are distributed and pre-sented are also of great importance. Based on the results of a survey done with the 50 CFOs of mid-sized are Swiss companies, this paper will identify five steps for optimizing the presentation of information in such reports. This not only involves increasing the effectiveness of the content, but also increasing of the reporting processes.
    04B - Beitrag Konferenzschrift
  • Publikation
    Chinesen sind scharf auf Mid- und Small-Caps
    (20.12.2016) Kustner, Clemens; Bennewirtz, Gerd
    Kapitalmarkt China; Diskrepanz zwischen inländischen A-Share Markt und internationalem H-Share Markt.
    10 - Elektronische-/ Webpublikation