January 2004

Managerial versus Entrepreneurial Firms: The Benefits of Separating Ownership and Control
Matthias Kräkel

Valuation With or Without Personal Income Taxes
Frank Richter

Components and Parameters of Corporate Reputation - an Empirical Study
Manfred Schwaiger

Joint Ownership and Incomplete Contracts: The Case of Perfectly Substitutable Investments
Stephanie Rosenkranz/Patrick W. Schmitz

Book Review
Global Financial Reporting
Flower, John/Ebbers, Gabi