Christian Müller

Dismissing an employee is an unpleasant task for many managers. The dismissal is an exceptional situation for both the manager and the concerned employee. Within a conflict between an employer and employee, dismissals could always be the last option, the ultima ratio or the final argument. But yet dismissals are sometimes inevitable. This can however occur due to some reasons including; crises on the world market, the restructuring of the company or the unsatisfactory performance of an employee. There are numerous social, legal and emotional questions to confront on restrictions posed by dismissal. Hence with his book, Christian M ller the well-known human resource specialist gives managers the knowledge required to professionally prepare a dismissal, within the German labor law regulations, whereby based on the feedback of critics and warnings, to differentiate its various forms and finally the conducting of an interview upon the pronunciation of the dismissal and the issue of the employer's reference if provided expertise. Including the imprint of the most important legislative regulations, the result of this work is a practical orientation guide for managers facing dismissal issues.

DIE REIHE: SCHRIFTENREIHE ZU ORDNUNGSFRAGEN DER WIRTSCHAFTherausgegeben von Thomas Apolte, Martin Leschke, Albrecht F. Michler, Christian M ller, Rahel Schomaker und Dirk WentzelDie Reihe diskutiert aktuelle ordnungspolitische und institutionen konomische Fragestellungen. Durch die methodische Vielfalt richtet sie sich an Fachleute, an die ffentlichkeit und an die Politikberatung.

The stylized facts that firms pay and investors react to dividends disregard dividend neutrality. Taking on the perspective that informational asymmetries are the central determinant for dividend value relevance, Christian Müller assumes that firm’s dividend decision conveys useful information to investors. He shows that investors use dividend changes to revise their a priori expectations about the persistence of a current earnings change. While his theoretical and empirical analyses generally imply that dividend changes constitute informative, but imperfect information signals, he further identifies situations in which they are substantial to investors. Christian Müller’s research comprehensively examines the informational role of dividend policy and provides new insights to the corresponding Bayesian investor learning process.