Universitätspublikationen
Refine
Year of publication
- 2013 (147) (remove)
Document Type
- Working Paper (147) (remove)
Has Fulltext
- yes (147) (remove)
Is part of the Bibliography
- no (147)
Keywords
- Liikanen-Kommission (5)
- banking union (4)
- Bail-in (3)
- Bankenunion (3)
- Banking Union (3)
- Contagion (3)
- European Banking Authority (EBA) (3)
- European Central Bank (ECB) (3)
- Trennbanken (3)
- Urheberrecht (3)
- euro area (3)
- leverage (3)
- monetary policy (3)
- oil price (3)
- political economy of bureaucracy (3)
- prudential supervision (3)
- real-time data (3)
- regulatory capture (3)
- Bail-in Anleihen (2)
- Banking Separation (2)
- ECB (2)
- Frühe Neuzeit (2)
- Gerichte (2)
- Gesellschaft (2)
- Konfliktlösung (2)
- Liikanen Commission (2)
- Normative Ordnungen (2)
- OMT (2)
- Open Access (2)
- Sanktionen (2)
- Single Supervisory Mechanism (SSM) (2)
- Solvency II (2)
- Wissenschaft (2)
- active shareholders (2)
- capital regulation (2)
- capital structure (2)
- collective litigation (2)
- compensation (2)
- conflict resolution (2)
- debt sustainability (2)
- deposit insurance (2)
- financial crisis (2)
- financial literacy (2)
- fiscal policy (2)
- fiscal reaction function (2)
- globalization (2)
- habit formation (2)
- inflation (2)
- investor protection (2)
- law and finance (2)
- leveraged buyouts (2)
- liquidity risk (2)
- private equity (2)
- risk aversion (2)
- social interactions (2)
- society (2)
- surveillance (2)
- Abstinenzkontrolle (1)
- Abstinenzweisung (1)
- Abwicklung (1)
- Abwicklungsinstrumente (1)
- Akkadian language (1)
- Akkadische Sprache (1)
- Alter Orient (1)
- Alternative Dispute Resolution (ADR) (1)
- Amtsgerichte (1)
- América hispánica (1)
- Ancient Law (1)
- Ancient Near Eastern International Law (1)
- Ancient Near Eastern law (1)
- Ancient near east (1)
- Antikes Recht (1)
- Arbeitsproduktivität (1)
- Asset Allocation (1)
- Asset Pricing (1)
- Asset allocation (1)
- Aufsicht (1)
- Aufsichtsratsvergütung (1)
- Ausschüsse für Politik und Recht (1)
- Bailout (1)
- Banken (1)
- Bankenaufsicht (1)
- Bankenaufsichtsrecht (1)
- Banking stability (1)
- Basel III (1)
- Bayesian VAR (1)
- Bewertungsreserven (1)
- Boards für Stadt-Entwicklung (1)
- Boni (1)
- Brent (1)
- Büros für Wirtschafts-und Handelsbeziehungen (1)
- Büros für Wohnungsbau (1)
- CRA3 (1)
- Central Banking (1)
- China (1)
- Chinese studies (1)
- Church Courts (1)
- Colonialism (1)
- Competition (1)
- Compliance (1)
- Conditional Forecasts (1)
- Conflict of Laws (1)
- Consumption hump (1)
- Copyright (1)
- Corporate Governance (1)
- Corporate Social Responsibility (1)
- Corporate bonds (1)
- Courts (1)
- Credit (1)
- Cyprus (1)
- DCC-GARCH (1)
- DSGE modelling (1)
- Debatten (1)
- Deficit spending (1)
- Deutscher Corporate Governance Kodex (1)
- Discretion (1)
- Dorfkomitees (1)
- Downside risk (1)
- Drittes Mexikanisches Provinzialkonzil (1)
- ESMA (1)
- EU (1)
- Early Modern Times (1)
- Eide (1)
- Einlagengeschäft (1)
- Enforcement (1)
- Equator Principles (1)
- Equator Principles Association (1)
- Estimation efficiency (1)
- Euro area (1)
- European Central Bank (1)
- Exkommunikation (1)
- Financial Crisis (1)
- Financial Expert (1)
- Financial distress (1)
- Firm valuation (1)
- Fiscal Crisis (1)
- Fiscal Policy (1)
- Forum externum (1)
- Forum internum (1)
- Fragmentation (1)
- Garantiezins (1)
- Geistliche Gerichtsbarkeit (1)
- General Equilibrium (1)
- Gerichtsverfahren (1)
- German Capital Markets Model Case Act (KapMuG) (1)
- German Markets Model Case Act (KapMuG) (1)
- German constitutional law (1)
- German corporate governance codex (1)
- Geschäftsleiterermesse (1)
- Gesetzgebung (1)
- Global financial crisis (1)
- Globalisierung (1)
- Globalization (1)
- Gläubiger (1)
- Greek economic crisis (1)
- Griechenland (1)
- Gründe (1)
- Handelsgeschäft (1)
- Hidden State (1)
- Home ownership (1)
- Homestead exemptions (1)
- IT innovations (1)
- Implicit Guarantees (1)
- Informality of negotiation (1)
- Informalität der Verhandlungen (1)
- Insurance (1)
- Intellectual Property (1)
- Internationale Institutionen (1)
- Internationale Organisationen (1)
- Internationales Privatrecht (1)
- Judicial vicar (1)
- Juristenausbildung (1)
- Kenya (1)
- Kirche (1)
- Kirchenrecht (1)
- Kollisionsrecht (1)
- Kontinuierliche Transdermale Alkoholüberwachung (1)
- Konzernrecht (1)
- Konzernverantwortung (1)
- Kredit (1)
- Late Middle Ages (1)
- Lebensversicherungen (1)
- Legal Transplants (1)
- Legitimation (1)
- Liquidity (1)
- Market Discipline (1)
- Market Quality (1)
- Market Structure (1)
- Methode (1)
- Migration (1)
- Monetary Policy (1)
- New Keynesian model (1)
- Nonlinear Filtering (1)
- Nordfrankreich (1)
- Normativität (1)
- Northern France (1)
- Offizial (1)
- Optimal monetary policy (1)
- Organisationspflichten von Banken (1)
- Own Risk and Solvency Assessment (1)
- Parish priest (1)
- Parteistaat (1)
- Personal bankruptcy (1)
- Petitionen (1)
- Pfarrer (1)
- Policy debates (1)
- Politics and Law Committees (1)
- Portfolio allocation (1)
- Portfolio optimization (1)
- Positive semidefiniteness (1)
- Private International Law (1)
- Prüfungsausschuss (1)
- R&D expenses (1)
- Rating Agencies (1)
- Real options (1)
- Recht (national) (1)
- Rechtfertigung (1)
- Rechtfertigungsnarrativ (1)
- Rechtsgeschichte (1)
- Rechtssoziologie (1)
- Rechtstheorie (1)
- Rechtsverbindlichkeit (1)
- Rechtsvereinheitlichung (1)
- Rechtswissenschaft (national) (1)
- Recursive Preferences (1)
- Regionalwissenschaften (1)
- Restrukturierung (1)
- Risiko (1)
- Risikomanagement (1)
- Risk-premium (1)
- SRM (1)
- Schuldner (1)
- Self-exciting Processes (1)
- Sicherstellungspflichten von Geschäftsleitern (1)
- Single Resolution Mechanism (1)
- Sinologie (1)
- Sovereign debt (1)
- Sovereign debt crisis (1)
- Sovereign default (1)
- Spanischamerika (1)
- Spätmittelalter (1)
- Stabilität (1)
- System (1)
- Systemic risk (1)
- Tail risk (1)
- Taylor rule (1)
- Tercer Concilio Provincial Mexicano (1)
- Too big to fail (1)
- Too-Big-To-Fail (1)
- Trandermale Alkoholmessung (1)
- Transdiziplinarität (1)
- Transnationale Rechtswissenschaft (1)
- Transnationales Recht (1)
- Trust (1)
- Unification of Law (1)
- Value-at-risk (1)
- Vergütung (1)
- Vermittlung (1)
- Versicherungsaufsichtsrecht (1)
- Verträge (1)
- Volatility (1)
- Vorschaubilder (1)
- Vorstandsvergütung (1)
- Völkerrecht (1)
- WTI (1)
- Weltgesellschaft (1)
- Wissenschaftssystem (national) (1)
- Zentralbank (1)
- Zero nominal interest rate bound (1)
- acquisition cost (1)
- adviser (1)
- agriculture (1)
- alternative dispute resolution (ADR) (1)
- altorientalisches Recht (1)
- altorientalistisches internationales Recht (1)
- ambiguity aversion (1)
- area studies (1)
- art investing (1)
- attention (1)
- backward stochastic differential equation (1)
- bailout (1)
- ban (1)
- bank competition (1)
- bank regulation (1)
- bank risk (1)
- bank runs (1)
- banking supervision (1)
- banks (1)
- biofuel (1)
- cash-in-advance (1)
- central bank independence (1)
- central banking (1)
- church (1)
- city development boards (1)
- collective redress (1)
- communication (1)
- competition (1)
- comprehensive assessment (1)
- constrained efficiency (1)
- consumer credit (1)
- consumer prices (1)
- consumer protection (1)
- consumption heterogeneity (1)
- contagion (1)
- contractual liability (1)
- convergence (1)
- cooperation (1)
- copula (1)
- corn (1)
- corporate governance (1)
- corporate restructuring (1)
- corporate social responsibility (1)
- court cases (1)
- courts (1)
- crack spread (1)
- credit (1)
- creditor (1)
- crop prices (1)
- cycle flows (1)
- cyclical liabilities (1)
- debt maturity (1)
- debt structure (1)
- debtor (1)
- decision theory (1)
- deflation (1)
- derecho canónico (1)
- discretionary lending (1)
- district courts (1)
- dual systems (1)
- economic and trade bureaus (1)
- education (1)
- end-of-day price dislocation (1)
- ethanol (1)
- exchange trading rules (1)
- excommunication (1)
- external forum (1)
- extreme value theory (1)
- financial reporting quality (1)
- financial repression (1)
- financial services (1)
- financial stability (1)
- financial stocks (1)
- financing policy (1)
- first-order approach (1)
- fiscal dominance (1)
- food crisis (1)
- food price volatility (1)
- forecast accuracy (1)
- forecast combination (1)
- forecasts (1)
- forward guidance (1)
- fragmented authoritarianism (1)
- fragmentierter Autoritarismus (1)
- futures (1)
- gender equality (1)
- genetics (1)
- hidden action (1)
- high frequency trading (1)
- household debt (1)
- household finance (1)
- housing construction bureaus (1)
- human capital (1)
- impatience (1)
- implied correlation (1)
- implied volatility skew (1)
- informal loans (1)
- input-output (1)
- insider trading (1)
- insurance guarantee schemes (1)
- interbank markets (1)
- interbank network (1)
- internal forum (1)
- intuitive thinking (1)
- judicial offices (1)
- jumps (1)
- jurisprudence (national) (1)
- la Edad Moderna (1)
- labor income (1)
- law (national) (1)
- legal education (1)
- legal history (1)
- legal theory (1)
- legally binding force (1)
- legislation (1)
- life-cycle utility maximization (1)
- local Public Security Bureaus (1)
- local government (1)
- lokale Regierungen (1)
- lokale Ämter für Öffentliche Sicherheit (1)
- makroprudenzielle Regulierung (1)
- managerial incentives (1)
- manipulation (1)
- marginal propensity to consume (1)
- market and credit risk factors (1)
- matching (1)
- mediation (1)
- method (1)
- microfoundations (1)
- mixed frequency (1)
- model case procedure (1)
- model misspecification (1)
- monetary policy real-time output gap (1)
- monetary transmission mechanism (1)
- money (1)
- mortgages (1)
- multinational companies/business and human rights (1)
- multiplicative error model (1)
- national systems of local banks (1)
- network formation (1)
- network topology estimation (1)
- networks (1)
- normativity (1)
- oaths (1)
- operational performance (1)
- optimal investment (1)
- option-implied distribution (1)
- ownership concentration (1)
- parameter uncertainty (1)
- participation (1)
- party-state (1)
- pass-through (1)
- payment systems (1)
- performance indicators (1)
- petitioning cases (1)
- political behavior (1)
- portfolio allocation (1)
- portfolio choice (1)
- portfolio optimization (1)
- predictability (1)
- principal agent (1)
- productivity (1)
- project finance (1)
- randomized control trials (1)
- recursive utility (1)
- refined products (1)
- regulation (1)
- relationship lending (1)
- repeated games (1)
- reputational risk (1)
- restatements (1)
- risk (1)
- risk taking (1)
- risk-shifting (1)
- risk-taking (1)
- salience (1)
- sanctions (1)
- saving (1)
- schlichte Einwilligung (1)
- science system (national) (1)
- selection bias (1)
- short-selling (1)
- social norms (1)
- sociology of Law (1)
- soft information (1)
- sophistication (1)
- sovereign bond risk premiums (1)
- sovereign risk (1)
- stability (1)
- stochastic differential utility (1)
- stochastic volatility (1)
- stock market participation (1)
- stock return expectations (1)
- structural change (1)
- structural reforms (1)
- strukturelle Reformen (1)
- sustainable finance (1)
- system (1)
- systemic risk network (1)
- systemic risk, too-interconnected-to-fail (1)
- tail measure (1)
- test cases (1)
- time-varying systemic risk contribution (1)
- trading process (1)
- trading rules (1)
- transdisciplinarity (1)
- transnational jurisprudence (1)
- transnational law (1)
- treaties (1)
- troika (1)
- trust (1)
- trust driven expectations (1)
- trust evolutionary games (1)
- twin study (1)
- tâtonnement (1)
- value at risk (1)
- variance risk premium (1)
- village committees (1)
- weiwen (1)
- welfare loss (1)
- world society (1)
- zero lower bound (1)
- § 68b Abs. 1 S. 1 Nr. 10 StGB (1)
- Öffentliche Gewalt (1)
- Öffentliches Recht (1)
Institute
- Center for Financial Studies (CFS) (78)
- Wirtschaftswissenschaften (71)
- House of Finance (HoF) (52)
- Rechtswissenschaft (20)
- Sustainable Architecture for Finance in Europe (SAFE) (18)
- Institute for Monetary and Financial Stability (IMFS) (12)
- Institute for Law and Finance (ILF) (8)
- Exzellenzcluster Die Herausbildung normativer Ordnungen (6)
- LOEWE-Schwerpunkt Außergerichtliche und gerichtliche Konfliktlösung (6)
- Gesellschaftswissenschaften (5)
The analyses of intersectoral linkages of Leontief (1941) and Hirschman (1958) provide a natural way to study the transmission of risk among interconnected banks and to measure their systemic importance. In this paper we show how classic input-output analysis can be applied to banking and how to derive six indicators that capture different aspects of systemic importance, using a simple numerical example for illustration. We also discuss the relationship with other approaches, most notably network centrality measures, both formally and by means of a simulated network.
This paper compares two classes of models that allow for additional channels of correlation between asset returns: regime switching models with jumps and models with contagious jumps. Both classes of models involve a hidden Markov chain that captures good and bad economic states. The distinctive feature of a model with contagious jumps is that large negative returns and unobservable transitions of the economy into a bad state can occur simultaneously. We show that in this framework the filtered loss intensities have dynamics similar to self-exciting processes. Besides, we study the impact of unobservable contagious jumps on optimal portfolio strategies and filtering.
This paper analyzes the evolving architecture for the prudential supervision of banks in the euro area. It is primarily concerned with the likely effectiveness of the SSM as a regime that intends to bolster financial stability in the steady state.
By using insights from the political economy of bureaucracy it finds that the SSM is overly focused on sharp tools to discipline captured national supervisors and thus under-incentives their top-level personnel to voluntarily contribute to rigid supervision. The success of the SSM in this regard will hinge on establishing a common supervisory culture that provides positive incentives for national supervisors. In this regard, the internal decision making structure of the ECB in supervisory matters provides some integrative elements. Yet, the complex procedures also impede swift decision making and do not solve the problem adequately. Ultimately, a careful design and animation of the ECB-defined supervisory framework and the development of inter-agency career opportunities will be critical.
The ECB will become a de facto standard setter that competes with the EBA. A likely standoff in the EBA’s Board of Supervisors will lead to a growing gap in regulatory integration between SSM-participants and other EU Member States.
Joining the SSM as a non-euro area Member State is unattractive because the cur-rent legal framework grants no voting rights in the ECB’s ultimate decision making body. It also does not supply a credible commitment opportunity for Member States who seek to bond to high quality supervision.
In this paper we provide new evidence that corporate financing decisions are associated with managerial incentives to report high equity earnings. Managers rely most heavily on debt to finance their asset growth when their future earnings prospects are poor, when they are under pressure due to past declines in earnings, negative past stock returns, and excessively optimistic analyst earnings forecasts, and when the earnings yield is high relative to bond yields so that from an accounting perspective equity is ‘expensive’. Managers of high debt issuing firms are more likely to be newly appointed and also more likely to be replaced in subsequent years. Abnormal returns on portfolios formed on the basis of asset growth and debt issuance are strongly positively associated with the contemporaneous changes in returns on assets and on equity as well as with earnings surprises. This may account for the finding that debt issuance forecasts negative abnormal returns, since debt issuance also forecasts negative changes in returns on assets and on equity and negative earnings surprises. Different mechanisms appear to be at work for firms that retire debt.
This paper empirically examines the role of soft information in the competitive interaction between relationship and transaction banks. Soft information can be interpreted as a private signal about the quality of a firm that is observable to a relationship bank, but not to a transaction bank. We show that borrowers self-select to relationship banks depending on whether their privately observed soft information is positive or negative. Competition affects the investment in learning the private signal from firms by relationship banks and transaction banks asymmetrically. Relationship banks invest more; transaction banks invest less in soft information, exacerbating the selection effect. Finally, we show that firms where soft information was important in the lending decision were no more likely to default compared to firms where only financial information was used.
This note reviews the legal issues and concerns that are likely to play an important role in the ongoing deliberations of the Federal Constitutional Court of Germany concerning the legality of ECB government bond purchases such as those conducted in the context of its earlier Securities Market Programme or potential future Outright Monetary Transactions.
Credit boom detection methodologies (such as threshold method) lack robustness as they are based on univariate detrending analysis and resort to ratios of credit to real activity. I propose a quantitative indicator to detect atypical behavior of credit from a multivariate system - a monetary VAR. This methodology explicitly accounts for endogenous interactions between credit, asset prices and real activity and detects atypical credit expansions and contractions in the Euro Area, Japan and the U.S. robustly and timely. The analysis also proves useful in real time.
Das Banken- und Versicherungsaufsichtsrecht benennt an mehreren Stellen ausdrücklich gruppenbezogene Pflichten des übergeordneten Unternehmens. Deren Realisierbarkeit hängt von gesellschafts-, insbesondere konzernrechtlichen Schranken ab, die für die Einflussnahme auf nachgeordnete Gruppenunternehmen bestehen. Der vorliegende Beitrag betrachtet das Zusammenspiel von Aufsichts- und Gesellschaftsrecht unter besonderer Berücksichtigung der regelungstragenden Ziele des ersteren. Die Gruppenverantwortung ist in dieser Sicht ein Institut, das zur Verwirklichung eines klar umrissenen, öffentlichen Interesses an der Befolgung bestimmter Normen das übergeordnete Unternehmen als interne Kontrollinstanz in die Pflicht nimmt und mit gruppendimensionalen Handlungspflichten belegt. Zur Gewährleistung der Effektivität dieses Instituts ist ein sektoral begrenzter Vorrang der aufsichtsrechtlichen Vorgaben anzuerkennen. Dieser ist durch die angemessene Berücksichtigung des mit dem Aufsichtsrecht verfolgten, öffentlichen Interesses als normativer Determinante der Leitungstätigkeit aller gruppenangehörigen Institute zu verwirklichen.
This study investigates the transition from being a listed company with a dispersed ownership structure to being a privately held company with a concentrated ownership structure. We consider a sample of private equity backed portfolio companies to evaluate the consequences of the corporate governance changes on operational performance. Our analysis shows significant positive abnormal growth in several performance ratios for the private period of our sample companies relative to comparable public companies. These performance differences come from the increase in ownership concentration after the leveraged buyout transaction.
We are able to shed light on the black box of restructuring tools private equity investors use to improve the operational performance of their portfolio companies. By building on previous work considering performance evaluation of PE backed companies, we analyze whether private equity improves operating efficiency and which of the typical restructuring tools are the main performance drivers. Using a set of over 300 international leveraged buyout transactions of the last thirty years, we find that while there is vast improvement in operational efficiency, these gains vary considerably. Our top performing transactions are subject to strong equity incentives, frequent asset restructuring and tight control by the investor. Furthermore, investors’ experience has a positive influence while financial leverage has no influence on operational performance.
The paper looks at the determinants of fiscal adjustments as reflected in the primary surplus of countries. Our conjecture is that governments will usually find it more attractive to pursue fiscal adjustments in a situation of relatively high growth, but based on a simple stylized model of government behavior the expectation is that mainly high trust governments will be in a position to defer consolidation to years with higher growth. Overall, our analysis of a panel of European countries provides support for this expectation. The difference in fiscal policies depending on government trust levels may help explaining why better governed countries have been found to have less severe business cycles. It suggests that trust and credibility play an important role not only in monetary policy, but also in fiscal policy.
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data for the period 1996 to 2006, we find that household demand for real estate is relatively high if the marginal investment in home equity is covered by the exemption. The home equity bias is more pronounced for younger households that face more financial uncertainty and therefore have a higher ex ante probability of bankruptcy.
The paper uses fiscal reaction functions for a panel of euro-area countries to investigate whether euro membership has reduced the responsiveness of countries to shocks in the level of inherited debt compared to the period prior to succession to the euro. While we find some evidence for such a loss in prudence, the results are not robust to changes in the specification, such as an exclusion of Greece from the panel. This suggests that the current debt problems may result to a large extent from preexisting debt levels prior to entry or from a larger need for fiscal prudence in a common currency, while an adverse change in the fiscal reaction functions for most countries does not apply.
We consider the continuous-time portfolio optimization problem of an investor with constant relative risk aversion who maximizes expected utility of terminal wealth. The risky asset follows a jump-diffusion model with a diffusion state variable. We propose an approximation method that replaces the jumps by a diffusion and solve the resulting problem analytically. Furthermore, we provide explicit bounds on the true optimal strategy and the relative wealth equivalent loss that do not rely on results from the true model. We apply our method to a calibrated affine model and fine that relative wealth equivalent losses are below 1.16% if the jump size is stochastic and below 1% if the jump size is constant and γ ≥ 5. We perform robustness checks for various levels of risk-aversion, expected jump size, and jump intensity.
We show that the optimal consumption of an individual over the life cycle can have the hump shape (inverted U-shape) observed empirically if the preferences of the individual exhibit internal habit formation. In the absence of habit formation, an impatient individual would prefer a decreasing consumption path over life. However, because of habit formation, a high initial consumption would lead to high required consumption in the future. To cover the future required consumption, wealth is set aside, but the necessary amount decreases with age which allows consumption to increase in the early part of life. At some age, the impatience outweighs the habit concerns so that consumption starts to decrease. We derive the optimal consumption strategy in closed form, deduce sufficient conditions for the presence of a consumption hump, and characterize the age at which the hump occurs. Numerical examples illustrate our findings. We show that our model calibrates well to U.S. consumption data from the Consumer Expenditure Survey.
The recent wave of randomized trials in development economics has provoked criticisms regarding external validity. We investigate two concerns—heterogeneity across beneficiaries and implementers—in a randomized trial of contract teachers in Kenyan schools. The intervention, previously shown to raise test scores in NGO- led trials in Western Kenya and parts of India, was replicated across all Kenyan provinces by an NGO and the government. Strong effects of shortterm contracts produced in controlled experimental settings are lost in weak public institutions: NGO implementation produces a positive effect on test scores across diverse contexts, while government implementation yields zero effect. The data suggests that the stark contrast in success between the government and NGO arm can be traced back to implementation constraints and political economy forces put in motion as the program went to scale.
Sowohl die exklusive Vermarktung steuerfinanzierter wissenschaftlicher Werke durch Verlage als auch das Wissenschaftsurheberrecht stehen seit längerem in der Kritik. Die Open-Access-Bewegung tritt dafür ein, dass überwiegend öffentlich geförderte wissenschaftliche Ergebnisse frei im Internet verfügbar sein sollen. Die Implementierung dieses Ideals stößt aber auf erhebliche Beharrungskräfte. Deshalb gehen öffentliche Forschungsförderer vermehrt dazu über, Wissenschaftler zu Open-Access-Publikationen zu verpflichten. Der Beitrag skizziert die rechtlichen Maßnahmen, die ergriffen werden müssten, um Open Access zum Goldstandard der wissenschaftlichen Veröffentlichung zu küren. Ferner geht der Beitrag der Frage nach, ob ein solches Regelwerk Grundrechte der Verlage und der Wissenschaftler verletzen würde.
Der digitale Urheber
(2013)
Das dominante Rechtfertigungsnarrativ des kontinentaleuropäischen Urheberrechts ist der Schutz des kreativen Urhebers. Das diesbezügliche Leitbild ist der romantische Genius, der fern der Welt auf Hilfe durch Verwerter und einen starken Schutz seines „geistigen Eigentums“ in ihren Händen angewiesen ist. Im digitalen Zeitalter ist jedoch ein neuer Typus des Urhebers hervorgetreten: der digitale Urheber. Ihre Inspirationsquelle und zugleich ihr unternehmerisches Verbreitungs- und Vermarktungsmedium ist das globale Netz. Der Beitrag erörtert, welche Konsequenzen sich insbesondere für das Urhebervertragsrecht ergeben, wenn das Leitbild des digitalen Urhebers an die Stelle des romantischen/analogen Urhebers tritt.
Seit dem Einzug der digitalen Netzwerktechnologie ist das Urheberrecht zu einem heftig umkämpften Politikum geworden. Dies gilt auch im Hinblick auf „Wissenschaft“ als urheberrechtlichen Schutzgegenstand. Ob das Verhältnis zwischen Urheberrecht und Wissenschaft allerdings überhaupt als problematisch erscheint und welche Lösungsansätze für einen ggf. wahrgenommenen Konflikt präferiert werden, hängt maßgeblich von der Perspektive ab. Der Beitrag unterscheidet insoweit eine urheberrechtliche von einer wissenschaftstheoretisch/-soziologischen Betrachtungsweise. Es zeigt sich, dass nur Letztere geeignet ist, den gegenwärtig stattfindenden, grundlegenden Wandel des wissenschaftlichen Kommunikationssystems zu erklären und adäquate Regulierungsvorschläge zu entwickeln.