Christian Reiner, senior researcher at LBS, has published a peer-reviewed article with the title “Concordance of office market cycles? Dynamics in European metropolises in the context of the financial and economic crisis”. The paper is joint work together with Robert Musil from the Austrian Academy of Sciences. It is published in the well-established, peer-reviewed German journal “Zeitschrift für Wirtschaftsgeographie”. The topic of the paper is strongly related to the LBS study program Strategic Finance & Business Analytics.

Abstract of the article: Urban office markets show an ongoing internationalization due to financial agents following a strategy of spatial diversification of real estate investments as a key strategy to reduce the risks of an investment portfolio. Hence, there is a growing literature discussing the consequences of this development, in particular focusing on an increasing concordance between the cycles of globally oriented office markets. It is the intention of this paper to look into the concordance and convergence of a broad sample of office markets in Europe. Against the background of an increasing divergence in Europe and the Eurozone since 2008, the question arises whether office markets are more closely linked to national economic cycles or whether there is a trend towards a convergence between European agglomerations. Based on prime yields as our main indicator of interest, we conduct several parametric and non-parametric correlation analyses and convergence tests. Our results show a very uneven concordance between European office markets; further, the analyses show a strong national bias in the sense that the concordance between different urban office markets within a country is much stronger than on the European scale. Over time, the cycles of office markets follow the pattern of monetary integration in Europe: After a period of convergence in the early days of the Euro, a pronounced period of divergence started with the economic crisis in 2008/2009.

The article is available here.

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Welcome to LBS

We are very pleased to announce the beginning of the new academic year 2018/2019 on October 4!

The LBS faculty and staff wish all our new and returning students a good start! We hope that you have refilled your energy reserves during the summer and that you are now ready for the new challenges to come.

A very special welcome to all our new students joining the LBS academic community this year. We are excited to meet you at our Orientation and Welcome Day!

The Economics of Climate Change

Christian Reiner, senior researcher at LBS, was invited by the Carinthian Economic Society (Volkswirtschaftliche Gesellschaft Kärnten) to deliver a talk on the economics of climate change. About 100 visitors attended the talk on October 3rd 2019 in Klagenfurt, Carinthia’s capital. Mr Reiner stressed the economic case for ambitious climate policy as well as the chances for business.

Master Class of 2019 – Congratulations!

On September 20, we were delighted to welcome many proud families and friends to the Lauder Business School campus for a Masters graduation ceremony. The ceremony started with a welcoming speech by our Executive Director Alexander Zirkler in the beautiful baroque LBS ballroom. In his address, he highlighted the international quality of both our Master programs and drew the parallel: “The value of your diplomas will increase in time like the value of a good painting.”

Blockchain Seminars – Be One Step Ahead

Whether you are a technical person, a business individual or simply interested in future technologies and the latest trends, our program gives you expert insights into this vibrant field and guides your path to becoming a Blockchain professional.