Diplomarbeit aus dem Jahr 2006 im Fachbereich Sport - Sportökonomie, Sportmanagement, Note: 1,7, Universität Bayreuth, 136 Quellen im Literaturverzeichnis, Sprache: Deutsch, Abstract: Die Vergabe von Namensrechten an Stadien und Arenen erlebt auf dem deutschen wie auch dem gesamteuropäischen Sportmarkt in den letzten Jahren einen regelrechten Boom. In der Vergangenheit wurden Sportstätten traditionell nach Regionen, Orten, Flüssen oder verdienten Persönlichkeiten benannt. Der Verkauf von Namensrechte an Sportanlagen stellt eine betriebswirtschaftlich reizvolle Alternative dar, die sowohl bei Eigentümern als auch privatwirtschaftlichen Sponsoren zunehmend mehr Bedeutung gewinnt. Insbesondere der Bau neuer Fußballstadien und großer multifunktioneller Arenen führt, vor dem Hintergrund der abnehmenden Förderung des Sportstättenbaus durch die öffentliche Hand, zu einem verstärkten Interesse an der Vergabe von Namensrechten in der deutschen Stadionlandschaft. Allerdings geschieht dies nicht immer aus betriebswirtschaftlich fundierten Überlegungen heraus. Vielen potentiellen Sponsoren fehlt ein theoretisch fundiertes Konzept als Orientierungspunkt zur Gestaltung von Namensrechten an Stadien. Diese Tatsache macht eine wissenschaftliche Untersuchung dieses Kommunikationsinstruments notwendig. In der einschlägigen Literatur wird zum Thema Sponsoring im Sport ein breites Spektrum an Forschungen und Theorien angeboten, allerdings fehlen in die Tiefe gehende Publikationen im Bereich des Immobilien- und Namensrechtesponsorings. Ein erster Schritt zur Schließung diese Lücke soll mit der vorliegenden Arbeit durch analoge Anwendung bereits bestehender, ,klassischer' Sponsoringkonzepte und durch Modifikation existierender Ansätze für diese spezielle Form des Sportsponsorings weitestmöglich getan werden. Ziel dieser Arbeit ist es, eine wirtschaftstheoretische, wissenschaftliche Darstellung des Sportsponsoringinstruments "Namensrechte an Stadien" zu liefern. Die Sponsoringliteratur stellt eine Vielzahl von relevanten Untersuchungen bereit, allerdings beantworten nur wenige Veröffentlichungen die wesentlichen Fragen, die einen Namensrechtesponsor beschäftigen: Bringt ein Namensrecht an einem Stadion wirtschaftliche Vorteile? Wie viel darf ein solches Engagement kosten? Welche Vorraussetzungen sind zu beachten, wie setzt man ein Namensrecht um und mit welchen Risiken ist zu rechnen? Welche steuerbaren Faktoren machen ein solches Engagement zu einem nachhaltigen Erfolg?

Abstract: Objectives Examination of lymph nodes is one of the most common indications for imaging in the head and neck region. The purpose of this study is to evaluate whether multispectral optoacoustic tomography can be used to observe chromophore differences between benign and malignant neck lymph nodes. Materials and methods Proof-of-concept ex vivo study of resected cervical lymph nodes from 11 patients. The examination of lymph nodes included imaging with hybrid ultrasound and multispectral tomography system followed by spectral unmixing to separate signals from the endogenous chromophores water, lipid, hemoglobin and oxygenated hemoglobin; calculation of semi-quantitative parameters (total hemoglobin and relative oxygenation of hemoglobin). Comparison of the results from the hybrid measurement with the histopathological results. Results Most patients suffered from squamous cell carcinoma (n = 7), also metastasis from salivary gland adenocarcinoma and papillary thyroid carcinoma, were included. The comparison between benign cervical lymph nodes and metastases showed significant differences for the absorbers water, lipid, hemoglobin and oxygenated hemoglobin and total hemoglobin. Conclusions Our ex vivo study suggests that multispectral optoacoustic tomography can be used to detect differences between reactive lymph nodes and metastases. The measurement of endogenous chromophores can be used for this purpose. The examinations are non-invasively and thus potentially improve diagnostic prediction. However, potential influences from the ex vivo setting must be considered

In response to the coronavirus (Covid-19) pandemic, there has been a complementary approach to monetary and fiscal policy in the United States with the Federal Reserve System purchasing extraordinary quantities of securities and the government running a deficit of some 17% of projected GDP. The Federal Reserve pushed the discount rate close to zero and stabilised financial markets with emergency liquidity provided through a new open-ended long-term asset purchase programme. To capture the interventions, we develop a model in which the central bank uses reserves to buy much of the huge issuance of government bonds and this offsets the impact of shutdowns and lockdowns in the real economy. We show that these actions reduced lending costs and amplified the impact of supportive fiscal policies. We then run a counterfactual analysis which suggests that if the Federal Reserve had not intervened to such a degree, the economy may have experienced a significantly deeper contraction as a result from the Covid-19 pandemic.

The Federal Reserve responded to the global financial crisis by initiating an unprecedented expansion of central bank money (bank reserves) once the policy rate had reached the lower bound. To capture the salient features of the crisis, we develop a model where the central bank can provide reserves on demand and also use reserves to buy government bonds. We show that the provision of reserves through either channel reduces the cost of providing loans as they act as a substitute for private sector collateral and costly monitoring activity. We illustrate this mechanism by examining the role of reserves in projecting stable growth in broad money after the financial crisis. We also run a counterfactual which suggests that, if the Federal Reserve had not provided bank reserves on such a large scale, broad money would have fallen, the economy might have experienced a deeper contraction, and the recovery would have been more protracted, taking perhaps twice as long to return to equilibrium.

We investigate for the case of Germany the positive correlation between the corporate saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective. By employing sign restrictions our findings suggest that mostly labor market, world demand and financial friction shocks account for the joint dynamics of excess corporate saving and the current account surplus. Household saving shocks, in contrast, cannot explain the correlation. We conclude that the corporate saving glut, explained through these factors, is the main driver of the current account surplus.

We investigate the factors driving current account and monetary policy developments in the euro area. We estimate an open-economy structural vector autoregression (VAR) model with zero and sign restrictions derived from a multi-country dynamic stochastic general equilibrium (DSGE) model to identify relevant shocks and analyse their impact on the current account and interest rate. Examining the VAR impulse responses for Germany, Italy and Spain we find that investment shocks and preference shocks drive the current account and interest rates in the opposite directions. By contrast, external demand shocks and productivity shocks cause both the current account balance and interest rate to move in the same direction. We also provide evidence for spillovers to the euro area from US preference shocks and US interest rate policy shocks.

After a first phasing out of the ECB's net asset purchases at end-2018, the question of how a future tightening of the ECB's monetary policy may affect countries located in the vicinity of the euro area has gained prominence, but has been left largely unanswered so far. Our paper aims to close this gap for the CESEE region by employing shock-specific conditional forecasts, a methodology that has been little exploited in this context. Besides demonstrating the usefulness of our framework, we obtain three key findings characterising the spillovers of ECB monetary policy to CESEE economies: first, a euro area monetary tightening does trigger sizeable spillovers to the CESEE region. Second, we show that in the context of a demand shock-induced monetary tightening, which is more realistic than the usual approach taken in the literature, CESEE countries' output and prices actually respond positively. Third, spillovers on output and prices in CESEE countries are heterogeneous, and depend on the trajectory of euro area tightening.