454 research outputs found
Die Bedeutung der Periodenerfolgsrechnung für die Investitionssteuerung : der Fall ungleicher Zeitpräferenzen
Der internen Unternehmensrechnung werden im allgemeinen zwei Funktionen zugeschrieben (Ewert/Wagenhofer (1997), S. 6): Sie soll einerseits Informationen für Planungszwecke bereitstellen, andererseits der Verhaltenssteuerung von Entscheidungsträgern in hierarchischen, dezentralen Organisationen dienen. In der jüngeren Vergangenheit ist die Verhaltenssteuerungsfunktion zunehmend in das Blickfeld theoretischer und praktischer Überlegungen gerückt. Gleichzeitig läßt sich eine verstärkte Marktwertorientierung deutscher Unternehmen in der Unternehmenspolitik wie auch in der internen Unternehmensrechnung beobachten. Die betriebswirtschaftliche Literatur hat darauf mit einer wachsenden Zahl von Beiträgen reagiert, die die Marktwertorientierung der internen Unternehmensrechnung vor dem Hintergrund ihrer Verhaltenssteuerungsfunktion diskutieren.1) Das Interesse dieses Beitrags gilt der Rolle der Periodenerfolgsrechnung als Teil der internen Unternehmensrechnung bei der marktwertorientierten Steuerung von Investitionsentscheidungen über Periodenerfolgsbeteiligungen. Zentrale Bedeutung kommt hierbei dem Residualgewinnkonzept aufgrund seiner Kompatibilität mit dem Marktwertkriterium (vgl. Abschnitt 5.1) zu. Dieses Konzept hat in der Praxis unter dem Namen Economic Value Added zunehmend an Popularität - insbesondere auch als Grundlage für Erfolgsbeteiligungen (vgl. z.B. Stewart (1991), Ehrbar (1998), O'Hanlon/Peasnell (1998) ) - gewonnen. Gezeigt werden soll, welche Vorteile die Periodisierung von Cash Flows im Rahmen einer Periodenerfolgsrechnung auf der Basis des Residualgewinnkonzepts gegenüber einer unbelassenen Cash Flow-Rechnung bei der Steuerung von Investitionsentscheidungen über finanzielle Anreizsysteme bietet. Betrachtet wird eine einfache bilaterale Principal-Agent-Beziehung: Eine delegierende Instanz (Prinzipal) beauftragt einen Entscheidungsträger (Agenten) mit Investitionsentscheidungen und versucht, dessen Investitionsverhalten über eine „Erfolgsbeteiligung“ in ihrem Sinne auf das Ziel der Maximierung des Barwertes aller Cash Flows gerichtet zu beeinflussen. Die Rolle des internen Rechnungswesens ist dabei auf die Bereitstellung der Bemessungsgrundlage für die Erfolgsbeteiligung beschränkt. Es wird gezeigt, daß die Periodisierung von Cash Flows und die Zugrundelegung periodisierter Größen bei der Investitionssteuerung zu besseren Lösungen des Steuerungsproblems des Prinzipals führt als eine reine Cash Flow- Beteiligung. ...This paper considers the role of accrual accounting in providing investment incentives. In a simple multiperiod principal-agent-framework, it is assumed that the agent is wealth constrained and that he discounts future cash flows at a higher discount rate than the principal. The principal designs a linear performance fee based on either cash flows or residual income. Conditions are analyzed under which accrual accounting improves the solution to the principal's problem in comparison with a cash flow based performance fee. The role of accounting lies in (i) improving cash flow-sharing between principal and agent over time and (ii) improving investment incentives. It is shown that the potential sources of conflict which are considered generally lead to „traditional“ accounting rules
Interplane magnetic coupling effects in the multilattice compound Y_2Ba_4Cu_7O_{15}
We investigate the interplane magnetic coupling of the multilattice compound
Y_2Ba_4Cu_7O_{15} by means of a bilayer Hubbard model with inequivalent planes.
We evaluate the spin response, effective interaction and the intra- and
interplane spin-spin relaxation times within the fluctuation exchange
approximation. We show that strong in-plane antiferromagnetic fluctuations are
responsible for a magnetic coupling between the planes, which in turns leads to
a tendency of the fluctuation in the two planes to equalize.
This equalization effect grows whit increasing in-plane antiferromagnetic
fluctuations, i. e., with decreasing temperature and decreasing doping, while
it is completely absent when the in-layer correlation length becomes of the
order of one lattice spacing. Our results provide a good qualitative
description of NMR and NQR experiments in Y_2Ba_4Cu_7O_{15}.Comment: Final version, to appear. in Phys. Rev. B (Rapid Communications),
sched. Jan. 9
Angle-resolved photoemission study of untwinned PrBaCuO: undoped CuO plane and doped CuO chain
We have performed an angle-resolved photoemission study on untwinned
PrBaCuO, which has low resistivity but does not show
superconductivity. We have observed a dispersive feature with a band maximum
around (/2,/2), indicating that this band is derived from the undoped
CuO plane. We have observed another dispersive band exhibiting
one-dimensional character, which we attribute to signals from the doped CuO
chain. The overall band dispersion of the one-dimensional band agrees with the
prediction of model calculation with parameters relevant to cuprates
except that the intensity near the Fermi level is considerably suppressed in
the experiment.Comment: 6 pages, 10 figure
Quasi-particle Lifetimes in a d_{x^2-y^2} Superconductor
We consider the lifetime of quasi-particles in a d-wave superconductor due to
scattering from antiferromagnetic spin-fluctuations, and explicitly separate
the contribution from Umklapp processes which determines the electrical
conductivity. Results for the temperature dependence of the total scattering
rate and the Umklapp scattering rate are compared with relaxation rates
obtained from thermal and microwave conductivity measurements, respectively.Comment: 14 pages, 4 figure
In Situ Investigations of Simultaneous Two-Layer Slot Die Coating of Component-Graded Anodes for Improved High-Energy Li-Ion Batteries
The use of thicker electrodes can contribute to a reduction in cell costs. However, the properties of the electrode must be kept in view to be able to meet the performance requirements. Herein, the possibility of simultaneous multilayer slot die coating is investigated to improve the electrode properties of medium- and high-capacity anodes. The stable coating window of the two-layer slot die coating process is investigated to produce property-graded multilayer electrodes. Electrodes with different styrene–butadiene rubber (SBR) gradients are investigated with regard to adhesive force and electrochemical performance. An increase in the adhesive force of up to 43.5% and an increase in the discharge capacity is observed
Quasiparticle-quasiparticle Scattering in High Tc Superconductors
The quasiparticle lifetime and the related transport relaxation times are the
fundamental quantities which must be known in order to obtain a description of
the transport properties of the high T_c superconductors. Studies of these
quantities have been undertaken previously for the d-wave, high T_c
superconductors for the case of temperature-independent elastic impurity
scattering. However, much less is known about the temperature-dependent
inelastic scattering. Here we give a detailed description of the
characteristics of the temperature-dependent quasiparticle-quasiparticle
scattering in d-wave superconductors, and find that this process gives a
natural explanation of the rapid variation with temperature of the electrical
transport relaxation rate.Comment: 4 page
High-Speed Coating of Primer Layer for Li-Ion Battery Electrodes by Using Slot-Die Coating
A reduction of the inactive components can increase the energy density and reduce production cost of Li‐ion batteries. But an effective reduction of the binder amount also negatively affects the adhesion of the electrode. Herein, slot‐die coating of a primer layer for Li‐ion anodes is investigated. It is shown that the use of a primer layer with only 0.3 g m can increase the adhesive force by the factor of 5 as well as the cell performance for anodes with low binder content. The process limits for a stable, defect‐free primer coating are investigated at coating speeds of up to 550 m min. The limits coincide both for a setup without vacuum box and with vacuum box with theory‐based equations. By using a vacuum box, the minimum wet film thickness can be reduced by half
Magnetic Coherence as a Universal Feature of Cuprate Superconductors
Recent inelastic neutron scattering (INS) experiments on
LaSrCuO have established the existence of a {\it magnetic
coherence effect}, i.e., strong frequency and momentum dependent changes of the
spin susceptibility, , in the superconducting phase. We show, using the
spin-fermion model for incommensurate antiferromagnetic spin fluctuations, that
the magnetic coherence effect establishes the ability of INS experiments to
probe the electronic spectrum of the cuprates, in that the effect arises from
the interplay of an incommensurate magnetic response, the form of the
underlying Fermi surface, and the opening of the d-wave gap in the fermionic
spectrum. In particular, we find that the magnetic coherence effect observed in
INS experiments on LaSrCuO requires that the Fermi surface be
closed around up to optimal doping. We present several predictions
for the form of the magnetic coherence effect in YBaCuO in
which an incommensurate magnetic response has been observed in the
superconducting state.Comment: 9 pages, 12 figures; extended version of Phys. Rev B, R6483 (2000
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