Faculty of Business and Economics, University of Basel

✨🎄 The Faculty of Business and Economics, University of Basel wishes you a Merry Christmas! May this festive season bring you joy, peace and beautiful moments with your loved ones. We thank you for your commitment and collaboration over the past year and look forward to another year filled with shared successes and inspiring encounters. Enjoy the holidays and have a great start to the new year! 🌟

🚀 🌟 Prof. Dr. Andreas Lanz invited to serve on the Editorial Review Board of Marketing Science!

"Enhancing financial services with permissionless blockchains", a new report by Fabian Schär on request of the EU Commission https://lnkd.in/eJVupBEf

📢 New Publication by Heinz Zimmermann et al. "IPO Pricing in Germany and Switzerland in the New Millennium: Tests on Underpricing and Long-Term Performance" In Journal of Risk and Financial Management: Barihas, R.; Weber, P.; Zimmermann, H. (2024). "IPO Pricing in Germany and Switzerland in the New Millennium: Tests on Underpricing and Long-Term Performance". Journal of Risk and and Financial Management 2024, 17(11), 511; https://lnkd.in/dK69_GFG Abstract We provide an updated analysis of initial public offerings (IPOs) by Swiss and German companies after the turn of the millennium up to 2020. We compare the characteristics of initial pricing to those observed in prior studies, test conventional hypotheses about underpricing cross-sectionally, and analyze the long-run performance of IPO firms. Our sample included 72 IPOs in Switzerland and 307 IPOs in Germany. We found an average (median) underpricing of 13.27% (7.19%) for Swiss IPOs and an average (median) of 21.50% (3.7%) for German IPOs; the averages dropped to 6.45% and 5.82%, respectively, after excluding the hot-issue market in 2000. Among the cross-sectional explanations, interesting effects can be observed with respect to the bookbuilding width and transparency standard of the listed market segment, as well as the reputation of the underwriter and the value of the greenshoe option. We documented strong post-issue underperformance for holding periods up to 120 months, which were, however, only present in the Swiss sample for median, not mean, returns. 📈📉 MBA Finance | Executive Master in Finance (MiF) #IPO #Underpricing #FinancialManagement #Germany #Switzerland #Research #Investment #StockMarket #LongTermPerformance #Finance #Economics #JournalPublication #HeinzZimmermann

📄 New Publication by Sarah Lein et al.: "Cross-border shopping: Evidence and welfare implications for Switzerland" In: Journal of International Economics: https://lnkd.in/e8TBpZWr Abstract Consumers access foreign goods by purchasing them domestically or shopping abroad. We present new facts on cross-border shopping by Swiss households showing, for example, that prices of identical products are lower in neighboring countries, cross-border shopping shares fall with distance to the border, and price gaps and cross-border shopping shares rose following the 2015 Swiss Franc appreciation. We use a simple model of cross-border shopping to quantify how variation across space in cross-border shopping results in heterogeneous changes in cost-of-living in response to changes in international prices such as the 2015 Swiss Franc Appreciation and the 2020 Covid-19-related closing of the border. 🌍💰 Universität Basel #CrossBorderShopping #Switzerland #Economics #InternationalTrade #ConsumerBehavior #SwissFranc #CostOfLiving #Research #EconomicsResearch #JournalOfInternationalEconomics

📃 New Publication from Beat Hintermann, Jakob Roth, Laura Schwab et al.: 🚵 "The e-biking in Switzerland (EBIS) study: methods and dataset" In: Transportation: https://lnkd.in/ebR6nRrE Abstract This article presents the EBIS (e-Biking in Switzerland) study, including its methodology, the resulting dataset, and an initial descriptive analysis of the population surveyed. The EBIS study is a Switzerland-wide GPS-tracking study with the aim of investigating the scope of carbon savings in the transport sector due to e-biking. Participants consisted of cyclists and e-bikers across the French- and German-speaking regions of Switzerland. In addition to extensive GPS tracking, the study included a randomized controlled trial (RCT) on transport pricing’s role in substituting e-bike trips for car trips, a retrospective survey on mode shift, and a stated preference survey on cycling infrastructure preferences. We here report participant attrition and engagement rates and compare the EBIS population to the 2021 Swiss Mobility and Transport Microcensus (MTMC) in terms of socio-demographic characteristics and travel behavior. In doing so, we present a unique dataset of 3,940 participants, 324 thousand user-days of tracking data, and over half a million stages by bike or e-bike. #EBIS #EBiking #Sustainability #TransportResearch #CarbonSavings #Cycling #Ebike #Switzerland #GPSData #TransportSector #Mobility #CyclingInfrastructure #EnvironmentalImpact #DataAnalysis 

📑 New Publication by Dominik Meier und Georg von Schnurbein: "From Mission to Market: Assessing Sector Overlap Between Nonprofits and For-Profits", in: Nonprofit and Voluntary Sector Quarterly. https://lnkd.in/d2RDKgCH Center for Philanthropy Studies (CEPS) - Universität Basel

🎓 Call for Applications until January 31, 2025: The Graduate School of Business and Economics at the University of Basel selects and promotes highly talented graduate students in the area of Business and/or Economics. We invite applications from students with an excellent Masters degree in Business, Economics or other related social sciences with formal training in both theory and empirical methods. The PhD program includes advanced courses that provide the necessary theoretical knowledge and research methods to conduct independent research and successfully write a doctoral thesis. Participants of our PhD program can also attend the Swiss Program for Beginning Doctoral Students in Economics at the Study Center Gerzensee or the PhD program of the SFI Swiss Finance Institute (SFI). The PhD program includes a competitive funding package covering the costs of living in Basel over four years. https://lnkd.in/dTdWwBdQ

🌍 Einladung zu einem spannenden Event über nachhaltige Immobilienwirtschaft! 🌍 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗶𝗻 𝗕𝗮𝘀𝗲𝗹 - 𝘄𝗵𝘆 𝘄𝗲 𝗰𝗮𝗿𝗲? Angesichts der globalen Klimaziele ist Nachhaltigkeit in der Immobilienwirtschaft zu einer dringlichen Aufgabe für Eigentümer, Entwickler und den öffentlichen Sektor geworden. Auch Forschung und Aus- und Weiterbildung spielen eine wichtige Rolle. Basel nimmt dabei eine zentrale Position als Innovationsstandort in der nachhaltigen Immobilienentwicklung und -finanzierung ein. Am 𝟭𝟴. 𝗗𝗲𝘇𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟰 𝘂𝗺 𝟭𝟲:𝟰𝟱 𝗨𝗵𝗿 laden wir Sie herzlich zu uns an die Faculty of Business and Economics, University of Basel ein. In einem Impulsreferat und der anschliessenden Paneldiskussion werden wir die Herausforderungen und Chancen nachhaltiger Immobilienentwicklung beleuchten und die Rolle Basels sowie seiner Universität in der Transformation zu einer nachhaltigeren Immobilienwirtschaft diskutieren. Verpassen Sie nicht die Gelegenheit, sich mit Experten auszutauschen und zur Diskussion über eine nachhaltige Zukunft beizutragen! 📅 Datum: 18. Dezember 2024 🕓 Uhrzeit: 16:45 Uhr 📍 Ort: WWZ Forum, Universität Basel 👉 Anmeldung: https://lnkd.in/d7sBYrmE Weitere Informationen und Flyer unter: Wir freuen uns auf Ihr Kommen! Pascal Gantenbein, Aya Kachi, Rolf Weder, Basil Heeb, Miriam Lüdi Universität Basel, CAS Sustainable Real Estate, Center for Innovative Finance (Universität Basel), CIEB Universität Basel #NachhaltigeImmobilien #Basel #Klimaziele #Innovation #Immobilienentwicklung #UniversitätBasel #Networking

✨ Im Rahmen des Dies academicus der Universität Basel wurde am Freitag, 29. November 2024, Professor Andrei Levchenko die Ehrendoktorwürde der Wirtschaftswissenschaftlichen Fakultät verliehen! 🎓👏 Diese Auszeichnung würdigt seine herausragenden Beiträge in mehreren wichtigen Bereichen: - der Erforschung von Firmennetzwerken im internationalen Handel 🌐 - der Rolle von sehr großen Firmen in der Wirtschaft 🏢 - dem Zusammenspiel von Globalisierung, Strukturwandel und internationalen Konjunkturzyklen 📈🌍 Professor Levchenko ist derzeit als John W. Sweetland Professor of International Economics an der University of Michigan tätig. Dr. Remo Nyffenegger und Dr. Santiago Ernesto Alvarez Blaser wurde der Fakultätspreis für die besten Dissertationen des Jahres verliehen. Gestiftet wird dieser Preis von der Stiftung BKB zur Förderung von Forschung und Unterricht der Wirtschaftswissenschaften an der Universität Basel. Wir gratulieren herzlich Prof. Dr. Dr. h.c. Andrei A. Levchenko, Dr. Remo Nyffenegger und Dr. Santiago Ernesto Alvarez Blaser sowie allen weiteren Laureatinnen und Laureaten zu dieser verdienten Ehrung! 🎊🥳 #Ehrendoktor #Wirtschaftswissenschaften #InternationalEconomics #UniversitätBasel #Auszeichnung #Forschung #Fakultätspreis