@techreport{FlachslandausdemMooreMuelleretal., type = {Working Paper}, author = {Flachsland, Christian and aus dem Moore, Nils and M{\"u}ller, Thorsten and Kemmerzell, J{\"o}rg and Edmondson, Duncan and G{\"o}rlach, Benjamin and Kalkuhl, Matthias and Knodt, Mich{\`e}le and Knopf, Brigitte and Levi, Sebastian and Luderer, Gunnar and Pahle, Michael}, title = {Wie die Governance der deutschen Klimapolitik gest{\"a}rkt werden kann. Ariadne-Kurzdossier.}, pages = {1-26}, abstract = {Von der Sektorkopplung bis zum Wasserstoff, von der Umsetzung des Klimaschutzgesetzes bis hin zum europ{\"a}ischen Green Deal: Um Klimaneutralit{\"a}t zu erreichen, braucht es eine koordinierte und effektive Politiksteuerung {\"u}ber einzelne Ressorts hinweg. Klimapolitik ist Querschnittsaufgabe, denn von der Stromerzeugung {\"u}ber Industrie, Geb{\"a}ude und Verkehr bis hin zur Landwirtschaft m{\"u}ssen alle Sektoren mit hohem Tempo treibhausgasneutral werden. Fachleute des vom Bundesministerium f{\"u}r Bildung und Forschung BMBF gef{\"o}rderten Kopernikus-Projekts Ariadne haben zentrale Probleme der staatlichen Steuerung deutscher Klimapolitik untersucht und L{\"o}sungsoptionen vorgelegt.}, language = {de} } @techreport{WitterSellhornMuelleretal.2022, type = {Working Paper}, author = {Witter, Tobias and Sellhorn, Thorsten and M{\"u}ller, Jens and Kiosse, Vicky}, title = {Balance sheet smoothing}, series = {Berlin School of Economics Discussion Papers}, journal = {Berlin School of Economics Discussion Papers}, edition = {No. 6}, doi = {10.48462/opus4-4673}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:b1570-opus4-46737}, pages = {100}, year = {2022}, abstract = {We investigate how managers smooth volatility in balance sheets, using the pension accounting change IAS 19R as a shock to balance sheet volatility. This shock increases pension plans' funding transparency, which is the source of volatility, without targeting actual plan funding. We find that managers adjust funding levels, pension asset allocation and assumptions to mitigate volatility at this source, but also plan settlements increase drastically. The volatility of accruals decreases, whereas volatility of discretionary real decisions increases pointing to managerial decisions to alleviate volatility in balance sheets. The exposure to balance sheet volatility and the relative net costs of related smoothing are cross-sectional predictors of smoothing activities. Overall, we provide evidence consistent with a vast body of pension accounting literature mentioning but not explicitly investigating the transmission of pension plan volatility on firms' balance sheets. Our findings link this literature with studies on balance sheet management and provide a new angle on the effects of a transparency mandate in (pension) accounting on managerial decision-making.}, language = {en} }