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Prof. Dr. Sönke Sievers

Prof. Dr. Sönke Sievers

Betriebswirtschaftslehre, insb. Internationale Rechnungslegung

Professor - Chair

+49 5251 60-3377
+49 5251 60-3878
Warburger Str. 100
33098 Paderborn
1. Scientific Publications

Journal-Ranking according to VHB-Jourqual 3, December 2018:


1. "Paying for Performance in Private Equity: Evidence from VC Partnerships " with N. Huether, D. Robinson and T. Hartmann-Wendels (Management Science, forthcoming, Financial Times TOP 50 Journal, September 2016)  SSRN

2. "Bank Funding Stability - Pricing Strategies and the Guidance of Depositors", with T. Schlueter and T. Hartmann-Wendels, (Journal of Banking & Finance, (2015), Vol. 51, pp. 43-61) SSRN Article

3. "Extended Dividend, Cash Flow and Residual Income Valuation Models - Accounting for Deviations from Ideal Conditions", with N. Heinrichs, D. Hess, C. Homburg, M. Lorenz (Contemporary Accounting Research (2013), Vol. 30, No. 1, pp. 42–79, Financial Times TOP 50 Journal, September 2016) SSRN Article

4. "The Relevance of Financial versus Non-Financial Information for the Valuation of Venture Capital-Backed Firms", with C. Mokwa und G. Keienburg (European Accounting Review (2013), Vol. 22, No. 3, pp. 467-511) SSRN Article


1. "Determinants of Market Beta: The Impact of Firm-Specific Accounting Figures and Market Conditions", with T. Schlueter (Review of Quantitative Finance and Accounting (2014), Vol. 42, No. 3, pp. 535-570) SSRN Article

2. "Valuing High Technology Firms", mit J. Klobucnik (Journal of Business Economics / Zeitschrift für Betriebswirtschaft (2013), Vol. 83, No. 9, pp. 947-984 (Best Practice Paper Award der VHB, 2012) SSRN Article

3. "Adverse selection, Investor Experience and Security Choice in Venture Capital Finance: Evidence from Germany", with T. Hartmann-Wendels, G. Keienburg (European Financial Management (2011), Vol. 17, No. 3, pp. 464-499) SSRN Article


1. "Wertgenerierung bei M&A Transaktionen durch Bekanntgabe von Synergien?", with G. Keienburg, J. Kengelbach and O. Mehring (Corporate Finance (2019), Vol. 3-4, pp. 76-84) Article

2. "Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp" with C. Sureth-Sloane and A. Uhde (Die Wirtschaftsprüfung (2018), Vol. 71, No. 9, pp. 569-575) Article

3. "Loan Pricing: Do Borrowers Benefit from Cost-Efficient Banking?", with T. Schlueter, R. Busch and T. Hartmann-Wendels (Credit and Capital Markets (2016), Vol. 49, No. 1, pp. 93–125) SSRN Article

4. "Erfolgsfaktoren bei Mergers and Acquisitions – Warum schaffen Portfoliomaster mehr Value Added?", with G. Keienburg, J. Kengelbach und O. Mehring (Corporate Finance (2016) , Vol. 81, No. 9, pp. 283–290) AP Article

5. "Investment distortions and the value of the government's tax claim", with D. Kreutzmann and C. Mueller (Applied Financial Economics (2013), Vol. 23, No. 11, pp. 977-989) SSRN Article

6. "To buy or not to buy? The value of contradictory analyst signals", with J. Klobucnik, D. Kreutzmann and S. Kanne (Swisscanto Best Paper Award 2012, Financial Markets and Portfolio Management (2012) Vol. 26, No. 4, pp. 405–428) SSRN Article

7. "Unternehmensbewertung in Deutschland: Verfahren, Finanzplanung und Kapitalkostenermittlung", with C. Homburg, M. Lorenz (ZfCM - Zeitschrift für Controlling & Management (2011), Vo. 55, No. 2, pp. 119-130) Article


2. Working Papers

1. "Non-GAAP Reporting and Investor Attention: Are Investors Misled by Exclusions of Recurring Expenses from Non-GAAP Earnings before Restatement Announcements?”, with O. Mehring, J. Mueller and C. Sofilkanitsch SSRN 

2. "Predicting Early Warning Signals of Financial Distress: Theory and Empirical Evidence", with J. Klobucnik and D. Miersch SSRN

2. "Biases in Management Forecasts of Venture-Backed Start-Ups Revisited: Evidence From Internal Due Diligence Documents of VC Investors", with C. Mokwa (R&R) SSRN

3. "The Relevance of Biases in Management Forecasts for Failure Prediction in Venture Capital Investments", with C. Mokwa SSRN

3. Other Publications

1."Synergies Take Center Stage", with J. Kengelbach, G. Keienburg, T. Schmid, D. Degen in: BCG´s M&A-Report 2018 Report

2. Blog post by Prof. Dr. Sönke Sievers: „Kapitalmarktorientierte Erfolgsmessung von M&A Transaktionen – Deutsche und weltweite Evidenz“. Blog

3. Update on the M&A market entitled "As Prices Peak, Should Dealmakers wait for the next Downturn?", with J. Kengelbach, D. Degen, G. Keienburg, T. Schmid (2018) Article

4. Post on "Paying for Performance in Private Equity: Evidence from VC Partnerships". The research results have been featured by the Harvard Law
Forum on Corporate Governance and Financial Regulation, Prof. Huether (Indiana University, Kelley School of Business), Prof. Robinson (University Fuqua School of Business), Prof. Sievers (Paderborn University) and Prof. Hartmann-Wendels (University of Cologne, 2018) Executive summary

5. "The Technology Takeover", with J. Kengelbach, G. Keienburg, T. Schmid, K. Gjersta, J. Nielsen, D. Walker in: BCG's M&A-Report 2017 Report

6. "Masters of the Corporate Portfolio", mit J. Kengelbach, G. Keienburg, T. Schmid, O. Mehring in: BCG's M&A-Report 2016 Report

7. "Die erfolgreiche Bindung des Sparers an die Bank" with T. Schlueter und T. Hartmann-Wendels in: Börsen-Zeitung, Vol. 18 from January 26, 2013, p. 5. Article

8." Wie Banken Kostenvorteile weitergeben", with R. Busch, T. Schlueter and T. Hartmann-Wendels in: Börsen-Zeitung, Vol. 6 from January 10, 2013, p. 6. Article

4. Books

1. Sievers, S.: Company Valuation and Growth - Theory, Empirical Evidence and Practical Implementation Issues, Münster: MV-Verlag, 2nd edition, 2013

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