Modellierung von Aktienanlagen bei laufenden Umschichtungen und einer Besteuerung von Veräußerungsgewinnen

This paper develops a technique which simplifies the calculation of terminal values of share investments when portfolio turnovers repeatedly trigger capital gains taxation. So far, the calculations of these values are difficult, due to recursive dependencies, which cannot be expressed by geometric series. Using our technique, tax burdens of differently taxed forms of share investments can be determined in an easy way even if these methods imply different elements of deferred taxation (equity funds, certificates, preferred taxed pension plans). The simplification is reached by assuming a specific trading strategy. This strategy is in line with empirically observed investor behavior which is characterized by periodical portfolio turnovers and reluctance to realize taxable capital gains.     

Inszenierungen von Macht und Ohnmacht bei der Auftragsklärung und im Erstkontakt

Performances of power and powerlessness can be performed or enacted at the very beginning between counselor and client system. To create a “potential space” (Winnicott) it is essential to discover the play of power and weakness initially to take benefit from it for the counselling process. Four cases illustrate variations of this kind and their handling.     

Metaphern und Märchen in der Supervision

The following article is about the use of metaphors and fairy-tales in the area of clinical supervision. First these two possibilities will be defined. Besides, the research work of Lakoff und Johnson (2014) will be mentioned.     

Wissensmanagement und Qualitätssicherung in der Organisationsentwicklung

Management of knowledge and securing in quality in organizational development What is to do, if permanently new counsellors have to be familiarized on a high quality standard, because of the fluctuation in the internal organizational development? if the individual methods of counsellors with different orientations have to be approachable to others? and if the desire for a maximum of individual procedure in counselling is as significant as the desire for a constant quality level of counselling? The authors present the answers of the department of organizational development in the public sanitation company of Berlin (Berliner Stadtreinigungsbetribe). The goal, the procedure, the present outcomes and the state of evaluation are delineated.     

Selbstreflexivität – Annäherungen an eine zentrale Haltung in Coaching- und Beratungsprozessen

This article explores “self-reflexivity” as a key competence and general attitude in all contexts of coaching and supervision. Three main perspectives are used approaching self-reflexivity: the “where from”, “what for” and “how-to”. Thus starting from etymology the importance of the subject in the practice of coaches and counselors is explored. Based on two models it is shown what kind of interaction between client and coach is beneficial when wanting to activate self-reflexivity. The article is rounded up by a note on self-care—one important aspect of self-reflexivity.     

Glück in der Arbeit durch eine beglückende Beratung in Muße

After a review of four new books, which address the matter of happiness from sociological, economic, psychological and philosophical point of view, the importance of leisure in today’s working society for being happy is pointed out, especially for professionals. This has a consequence for consulting: Id needs to integrate both styles of life so that its addressees can fully use their opportunities to their happiness.     

Besteuerung multinationaler Unternehmen in der EU – eine vergleichende Analyse ausgewählter Reformvorschläge

The European Commission is currently finalizing a tax system based on a Common Consolidated Tax Base (CCCTB), which multinational corporations throughout the European Union will be able to use to determine their tax burden in accordance to this system. Besides the CCCTB, we present and analyze an alternative tax reform proposal, the European Tax Allocation System (ETAS). Our analysis is based on a dynamic capital budgeting model. The effects of the underlying European tax concepts on marginal investment of multinational groups are investigated by determining the influence of taxation on the required minimum rate of return and herewith the pre-tax cost of capital. Performing analyses for different scenarios enables us to draw more detailed conclusions about whether implementing ETAS and CCCTB can foster or discriminate real investments. Our investigation shows which tax concept and which of the analyzed parameter particularly affects the multinational’s tax burden. E.g., we find that a CCCTB can foster real investments particularly by means of retention policy and profit shifting, whereas ETAS can foster real investments effectively exploiting the Member States’ tax rate differentials and taking advantage of differing national tax regulations.     

Welche privaten Veräußerungsgewinne sollten besteuert werden?

This paper analyses for various corporate tax systems whether the capital gains tax distorts investment decisions and how tax effects could eventually be neutralized. In case of the disposal of shares between private investors the capital gains tax, the corporate tax and the income tax on dividends induce a triple taxation. On the contrary, distributing cash via share repurchases instead of paying out dividends can lower the tax burden in a classical corporate tax system and a shareholder relief system respectively. These findings necessitate the differentiation between share repurchases and other realizations of stocks in order to establish a neutral capital gains tax. While the capital gains taxation on transactions between private investors has to be reduced, the taxation of share repurchases must be matched with the respective dividend taxation.     

Zeit und Zeitgeist in der Betriebswirtschaftslehre — dargestellt am Beispiel der betriebswirtschaftlichen Flexibilitätsdiskussion

Zusammenfassung  Gegenstand des vorliegenden Beitrags ist die Untersuchung der über 80 Jahre andauernden Flexibilit?tsdiskussion in der deutschen Betriebswirtschaftslehre. Eine quantitative und qualitative Analyse dieser Diskussion macht deutlich, dass die Zeit (bzw. die im Zeitablauf feststellbaren Entwicklungen oder Ereignisse) sowie der Zeitgeist (als Gesamtheit der eine Epoche kennzeichnenden Auffassungen, Ideen und Lebensformen) erkl?rende Variablen einer wissenschaftlichen Diskussion und ihrer Ergebnisse sein k?nnen. Schon der relativ lange Zeitraum der wissenschaftlichen Behandlung l?sst das Flexibilit?tsthema als „L?ngsschnittstichprobe“ zur Prüfung der oben genannten Hypothese geeignet erscheinen. So wird gezeigt werden, dass die Flexibilit?tsdiskussion durch externe Ereignisse ausgel?st wurde und im Zeitablauf immer wieder „neu“ an Dynamik gewonnen und sich an jeweils vorherrschende Themen und Probleme — den „Zeitgeist“ — ausgerichtet hat. Am Ende der Untersuchung stehen die folgenden Erkenntnisse:

Zwischen Seelsorge und Supervision — das Mitarbeitergespräch in der Kirche

Between spiritual counseling and supervision — staff appraisal interviews within the church. A leadership tool used within conflicting concepts The author draws on personal experience he had when introducing staff appraisal interviews within the Lutheran Church of Bavaria, specifically in annual staff appraisals. After distinguishing between counseling, therapy, spiritual counseling, supervision and coaching, he describes the particulars of staff appraisal interviews. He particularly emphasizes that these interviews depend a great deal upon the way leadership is viewed within an organization. He sees agreement on aims as the central element of staff appraisal interviews that requires special attention and care. The article closes with critical remarks on and perspectives for current practices within the church in the area of religious instruction.     

„Er ist als Wissenschaftler eine Niete und hat sich deshalb der Universitätspolitik verschrieben“

In the university three cultures are converging, as illustrated in the film “The Campus”: the “old” culture of the savant who is interested in truth, painted in a idealized manner; the “new” culture of the politicized group university, painted in a satirical manner, and the culture of neutral rules of law, represented in the administration. Science, politics and law could inspire each other, but for it a power would be needed which could connect them with their properties. Because of the absence of this power, a continuous politicization of the university develops which loses their identity as organization of science and his cultural core.     

Steuerfreiheit von Gewinnen aus der Ver?u?erung von Kapitalgesellschaftsanteilen durch nat��rliche Personen?

Subject of this article is the question for the taxation of capital gains of holdings in corporations, in which tax effects are reduced. Thereby tax effects are explicated under realistic uncertainty. Under realistic uncertainty tax effects are possible in case of taxation of capital gains, but not mandatory. Furthermore the analysis shows that for capital gains from concealed reserves each form of taxation will entail tax effects. This also applies to tax exemption. In the case of capital gains from profit reserves in the applicable corporate income tax system, tax exemption of capital gains from profit reserves and immediate write-off of profit reserves itself evoke tax effects. In the current corporate tax system only the distribution induced write-down of a shareholding to going concern value reduces tax effects. Nevertheless, this only applies to personal corporations, for public corporations tax effects have to be accepted. Beyond the valid tax system, tax effects must also be expected in a tax system, in which the corporate tax is integrated in the income tax and in which capital gains from profit reserves are tax-exempt. In comparison, the Dual Income Tax as proposed by the German Council of Economic Experts is a better solution for the problem of tax effects caused by the tax exemption of capital gains.     

Abschlussprüferhaftung bei unpräzisen Sorgfaltsstandards und Ambiguitätsaversion

The Ellsberg-paradox suggests that individuals are subject to ambiguity aversion. When the standard of due care is not precisely defined, the context of auditor’s liability can be considered as an ambiguity situation. The paper shows that compared to an Expected Utility framework an ambiguity-averse auditor will exert less care with low damage payments but higher care with high damage payments. Hence, it might be advisable to put a liability cap. With strict liability there is no ambiguity situation and thus, there are no distortions from ambiguity aversion.     

Output-Flexibilität in der Dienstleistungsproduktion

Zusammenfassung  Den Ausgangspunkt der überlegungen bildet die Interpretation von Dienstleistungen als Probleml?sungen, die eine M?glichkeit zur formalen Analyse der Output-Flexibilit?t er?ffnet. Im vorliegenden Beitrag werden in einer eigenschaftsorientierten Betrachtung zun?chst die Komponenten der Output-Flexibilit?t identifiziert, um dann darauf aufbauend ein Kalkül zur Gestaltung der Output-Flexibilit?t von Dienstleistungsunternehmungen abzuleiten.

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Summary  Output flexibility enables the service provider to cope with both uncertainties in demand and the external production factor. This paper aims at formulating a calculus for the design of output flexibility based on production theory. The interpretation of services as specific problem solutions serves as a basis for a feature-oriented modelling of service production.

Die Autoren danken zwei anonymen Gutachtern für wertvolle Verbesserungsvorschl?ge.     

Fehlerkultur,Fehlermanagement und ihre Bedeutung für Maßnahmen der Personalentwicklung in Kliniken

Error culture, error management and the significance in personnel development The author picks up themes about error culture and error management. As a first step are discussed the relationships between error culture and education and error management and economics. After this the main view of the article lies on high security systems like the atomic industries and the air transportation business. Especially the error reporting in the cockpit may be a model for developing good error cultures in clinics. In the end the author gives some recommendations in personnel work for clinics.     

Coaching für Führungskräfte in der Sozialen Arbeit – eine empirische Bedarfsanalyse

Coaching for executives in social work – an empirical study on consultancy needs. Executives in social work see themselves under special demands to balance the necessity to cope with public cost cutting requirements on the one hand and the design of organization structures which are to master future challenges on the other. In order to adapt coaching to the consultancy needs in this field, 96 executives working in social facilities in Thuringia were interviewed with a view to their potential consultancy needs, in particular with respect to their management functions and leadership challenges. This investigation showed a high degree of acceptance for coaching and differentiated consultancy needs in the dilemma between economization and quality oriented social work. A preliminary competence profile for coaching personnel is derived thereof.     

Die Kultur der scheinbaren Schamlosigkeit und ihre Bedeutung für eine Fehlerkultur

The culture of a seeming shamelessness and its significance for an error cultureThe author describes the culture of the seeming shamelessness and its significance for organization cultures in general and particularly for an error culture. He discusses the thesis of a new social character in the contemporary world and then he delineates the difficulties of the pioneer phase in organizations. The effects of a seeming shamelessness on organization cultures and especially on error cultures are discussed.     

Rolle und Aufgaben von Coaching im Veränderungsmanagement bei McKinsey

Roles and tasks of coaching in change management at McKinsey The author describes the necessity and special challenges of coaching in change situations. Focus target group are executives in key positions as well as explicitly appointed change agents. As success-established concept she describes a succession of group coachings with parallel and following one-to-one coachings as well as peergroup coachings dealing with current challenges during the change process. Finally, the author refers to important basic conditions with the implementation of such coaching concepts, as well as on effects for consulting firms.