TY - JOUR A1 - Just, Tobias A1 - Heinrich, Michael A1 - Maurin, Mark Andreas A1 - Schreck, Thomas T1 - Foreclosure discounts for German housing markets JF - International Journal of Housing Markets and Analysis N2 - Purpose This paper aims to investigate the foreclosure discount for the German residential market in the years from 2008 to 2011. Design/methodology/approach The determinants of the foreclosure discount are estimated in a hedonic price model. The analysis is based on a unique data set compiled from three different data sources with 135,000 foreclosed properties. Findings The findings reveal that residential units in foreclosures are sold at a discount of 19 per cent compared to residential units with similar characteristics that are not in foreclosure. Second, a regional pattern can be observed, with discounts being negatively correlated to unemployment risk and liquidity. Third, the model with interaction terms shows that foreclosure discounts are linked to specific property characteristics. Fourth, these object-related risks are typically smaller than regional risks or locational risks. Research limitations/implications Given the highly fragmented system of Gutachterausschusse in Germany, who are responsible for collecting transaction data, we were not able to directly analyze transaction data, but only a proxy for this price information. Practical implications The results can be important for financial institutions that are trying to assess the risk of lending for a specific object in a specific location. So far, banks primarily try to assess the default risk of private lenders by analyzing the debtor's financial position and the quality of the property. The analysis provides insights into which characteristics of a property might imply additional risk, and in which region these risks are biggest. Originality/value To the best of the authors' knowledge, this is the first attempt to analyze the foreclosure discount for the German housing market. KW - Characteristics of a property KW - COST KW - Distressed assets KW - Foreclosure discount KW - German regions KW - Hedonic house price model KW - Liquidity KW - PRICE KW - SALES KW - TRANSACTIONS Y1 - 2019 U6 - https://doi.org/10.1108/IJHMA-12-2018-0106 VL - 13 IS - 2 SP - 143 EP - 163 PB - Emerald ER - TY - CHAP A1 - Könning, Michael A1 - Heinrich, Kai A1 - Leyh, Christian A1 - Westner, Markus T1 - A quantitative analysis of culture-induced differences in pivotal IT outsourcing contract features T2 - Proceedings of the 27th European Conference on Information Systems (ECIS 2019): Stockholm & Uppsala, Sweden, June 8-14 N2 - More than 30 years after its first implementation, IT outsourcing (ITO) is unanimously considered a critical component of corporate strategy for private and public institutions alike. While implementations of ITO around the world share some common characteristics like typical reasons for outsourcing, key success factors, or dimensions along which they can be classified, extant research also points to regional differences. However, research on this topic, specifically regarding pivotal contract features like contract value, contract length, or pricing methods, is still in its infancy, and quantitative analyses on the subject are particularly scarce. We address this research gap by analyzing data on 14,917 ITO contracts closed between 2007 and 2017 through the lens of cultural regions and three statistical methods. The contribution of our paper is threefold. First, our descriptive analysis points to globally decreasing contract lengths and contract values, confirming previous studies and practice reports. Second, an ANOVA with independent post-hoc testing provides quantitative supportfor the degree of dissimilarity among individual regions in pivotal ITO contract features. Finally, our quantitative replication of a previous study identifies culture-induced regional differences between USA and Japan regarding the effect of influence factors on ITO contract features. KW - IT Sourcing KW - IT Outsourcing KW - Sourcing Strategy KW - Contract Design KW - Cultural Regions KW - Betriebliches Informationssytem KW - Outsourcing KW - Vertrag KW - Kultur Y1 - 2019 UR - https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1115&context=ecis2019_rp SP - 1 EP - 15 ER -