Rechts- und Wirtschaftswissenschaftliche Fakultät

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  • Doctoral thesis
    Open Access
    Social Influence and Decision Making: Desirability, Signalling and Information
    (2024-02-29) Baker, Edmund; Grimm, Veronika; Grimm, Veronika; Ofek-Shanny, Yuval
    This dissertation is a collection of three essays that contribute to the literature on the influence of social factors on economic decision-making. Each essay focuses on one aspect of how socially conveyed information causes individuals to change their behaviour. The introduction on page 6 sets out a more detailed summary of each essay. The first essay focuses on ethnic discrimination in the labour market. There is a disparity between lab and field, with the former producing less convincing evidence of discrimination than the latter. One hypothesis for the disparity is that participants in experiments are aware they are being monitored and adjust their behaviour to avoid sending a signal that they are discriminatory. We tested this with an online experiment. In our control treatment, we asked the participants to rate fictitious CVs (which vary according to ethnicity) as part of a pre-selection in a recruitment process. In our second treatment, we explicitly tell the participants that they are taking part in an experiment. In our third treatment, we tell them their decisions will be evaluated. Overall, participants favoured Black CVs by a small amount, but a small minority favoured White CVs by a large amount. However, that minority ceased discriminatory behaviour in the two treatments where they are being monitored. The second essay focuses on the social signals that jobseekers increasingly send via their social media accounts. We implemented a similar experiment to the one in the first essay, except this time the participants were provided both with a CVs and social media content. Candidates who were open about their mental health problems received lower scores, and candidates whose social media content included mild negative signals such as an interest in video games received the worst scores. Candidates with no social media presence received scores even worse than the candidate who was suffering from mental health issues. This suggests that seeking to maintain a low profile online is itself perceived as a negative signal. The third essay focuses on the signals inherent in bilateral trade. I present a model which illustrates the conditions under which rational agents should have a gap between their willingness to pay (WTP) and willingness to accept (WTA). In essence, this is because if someone wants to sell a good, it sends a negative signal about its value. The more uncertain traders are about the value of the good, and the more affiliated they are with their trading partner, the larger this gap should be. I tested these predictions in an experiment and found no overall convincing evidence that information effects drive WTP-WTA gaps for everyday goods.
  • Conference object
    Open Access
    On the Disappearance of the Metaverse: Three Scenarios for the Future
    (2023-12-10) Brechtelsbauer, Bastian; Tang, Willi
  • Conference object
    Open Access
  • Doctoral thesis
    Open Access
    Essays on Information Disclosure, Uncertainty Perception, and Expectations in Financial Markets
    (2023-12-07) Perico Ortiz, Hector Daniel; Dovern, Jonas
    This thesis encompasses four self-contained chapters besides the introduction. Each chapter is written so that it can be read independently, however, they are closely related to each other in terms of methods and object of study. The next two chapters, Chapters 2 and 3, are the result of collaborative work with Matthias Schnaubelt and Oleg Seifert. These chapters examine the impact of interactions between analysts and executives on options' implied volatility across various maturities. Chapter 2 analyzes the financial and economic implications of these interactions using an event-study approach. Chapter 3 outlines the text-processing methodology used for topic model evaluation, and selection. Chapter 4 examines the relationship between social media data evaluated at a high-frequency level and stock market uncertainty. Chapter 5 concludes with an analysis of the effect of daily news on inflation expectations and risk-premium at different horizons. This is derived from the term structure of inflation-protected securities. Below, we provide a brief discussion of the motivation and main results for each chapter and the connections among them.
  • Doctoral thesis
    Open Access
    Gender Wage Inequalities within Firms
    (2023) Zimmermann, Florian; Abraham, Martin
    Despite substantial progress towards gender equality in many areas of life, gender inequalities in the labor market, most notably the gender wage gap, persist in Western countries, such as Germany. Since closing gender wage inequalities is a key goal of policymakers in most Western countries, identifying causes for these persisting inequalities is essential to better understand the underlying processes. Besides individual factors and occupational segregation as potential explanations for remaining gender wage inequalities, recent research highlighted the roles of firms in generating and sustaining gender wage disparities. In organizations, categorical distinctions based on salient status characteristics, like gender or occupational status, can lead to between-group disparities in organizational power and resource flows. These disparities might result in between-group inequalities. The categorical distinctions might be highlighted or dampened by the intersection of institutional, organizational, and individual contexts, creating distinct inequality regimes. Thus, investigating organizations is crucial to understanding the processes that generate and sustain gender wage inequalities. This dissertation consists of three self-contained essays investigating how organizational culture, organizational policies, and female representation in positions of power can narrow gender wage inequalities. The first essay of this dissertation in section 2 is single-authored and investigates whether multinational companies transfer corporate culture into subsidiaries abroad. Using the Orbis-ADIAB data and regressions with company-fixed effects, I show that lower gender inequalities in a multinational company’s home country are associated with a lower gender wage gap in German subsidiaries. Furthermore, I identify expatriate managers from the same home country as the multinational company as drivers of this association. In companies with these expatriate managers, one standard deviation of differences in gender inequalities in the home countries can explain around 10% of the remaining within-firm gender wage gap. Investigating organizational policies as part of organizational culture, the second essay in section 3 analyzes how organizational policies promoting gender equality, such as work-life balance practices, influence gender wage inequalities within firms. This essay is co-authored with Matthias Collischon. Using German linked employer-employee data and regressions with firm-fixed effects, we find that organizational policies narrow gender wage inequalities within firms. Regarding channels, we show that these policies narrow the gender wage gap for currently employed staff by increasing women’s chances to be promoted. However, we find no evidence for changes in the gender wage gap for newly hired staff or hiring behavior. The third essay in section 4 is single-authored and disentangles two theoretical channels to investigate how female managers can narrow the gender wage gap among workers. First, women might benefit from interacting with female managers, for example, by homophily. Second, female managers might use their organizational power to change organizational policies. These changes make an organization more female-friendly, resulting in lower gender wage inequalities among workers. I employ German linked employer-employee data and firm-fixed-effects regressions. I find evidence for the interaction with workers channel because female manager whose tasks include interacting with workers narrow the gender wage gap among workers. However, I find no evidence for the organizational power mechanism because female managers do not narrow their workers’ gender wage inequalities by implementing female-friendly organizational policies. In summary, this dissertation contributes to understanding the role of firms in creating and sustaining gender wage inequalities within firms. By investing organizational culture, organizational policies, and female representation in positions of power, this dissertation deepens our understanding of inequality-creating processes within firms. In section 5, evidence-based policy advice is derived from these insights, and avenues for future research are discussed.
  • Doctoral thesis
    Open Access
    Interconnection and Cooperation in the Era of Industry 4.0: The transformative Role of Digital Platforms and Ecosystems for Industrial Value Creation
    Schmidt, Marie-Christin; Voigt, Kai-Ingo
    Industrial value creation is undergoing a profound transformation in the Industry 4.0 era. The transformation entails several challenges, but also offers extensive opportunities for industrial companies. Against this backdrop, cross-company interconnection and cooperation are required to cope with the rising complexity and to exploit the full potential this transformation promises for industrial ecosystems. An expedient way towards smooth interconnection and improved cooperation is the use of digital industrial platforms in industrial value creation. In order to support industrial companies in adapting to this development and to add to extant research in the field, this dissertation pursues the research question: How do Industry 4.0 and particularly digital platforms affect cross-company industrial value creation and cooperation? The dissertation comprises six scientific studies that are interconnected and are subsumed under a comprehensive research framework. With this it contributes to improve the understanding of changes in the value creation structure, strategic approaches for industrial companies, and operative implications from both company-internal and cross-company perspectives. Thus, the dissertation generates new insights, broadens academic knowledge and carries suggestions for further research in this context. By identifying relevant implications for practitioners, it also helps industrial companies to successfully manage current transformations in industrial value creation.
  • Doctoral thesis
    Open Access
    Essays on Current Issues Related to Sustainability and Climate Change in the Insurance Industry
    Reichel, Philipp; Gatzert, Nadine
    This thesis deals with issues related to sustainability and climate change from the point of view of the insurance industry. With regard to sustainability, emerging risks and opportunities from the asset, liability and corporate perspective and the approach of insurers towards sustainable investing are studied in the first two articles. The two remaining focus on insurers’ awareness of climate risks and opportunities and how these influence the management of the asset side. First, we offer a structured overview of sustainability risks and opportunities for insurers as sustainability represents a mega trend with the potential for large-scale implications. For this purpose, we examine material risks and opportunities from three different perspectives, which has not previously been done: the asset side, the liability side, and the overall corporate perspective. The structured overview highlights climate change as an overarching issue. However, sustainability is not restricted to this single aspect. Insurance companies should therefore develop and apply a comprehensive management approach. Second, even though insurance companies are among the largest institutional investors, the further development of their investment policies in regard to sustainability considerations has not been studied comprehensively yet. To fill this gap, we set up a sustainable investment dictionary and apply a text mining process to US and European insurers’ annual, sustainability- and investment-related reports and documents. We overall find a strong increase in references to our dictionary over the sample period. Additional analyses conducted thereby also show differences depending on firm characteristics and region while a significant relation between sustainable investment-related keywords in reporting and firm value is not confirmed. Third, while climate change represents a highly relevant issue for insurers with potential impacts on assets, liabilities and strategic approaches, previous literature is characterized, however, by a lack of empirical research. We thus contribute to the literature by empirically studying the awareness of related risks and opportunities for a large panel dataset of insurers and thereby provide first insights on significant drivers, such as firm size. Finally, examining value effects in this context for a broad panel dataset extends previous research as well, where we find a positive impact of considering climate-related risks and opportunities on firm value. Fourth, as the literature further highlights a lack of research as well as challenges in the context of managing climate risks and opportunities as financial institutions and investors, the final study examines how insurance companies as large asset owners can handle these topics. Moreover, a first analysis of Climate Transparency Reports, published by insurers as signatories of the Principles for Responsible Investment, allows to derive in-depth insights on their actual tools and management approaches towards climate risks and opportunities on the asset side.
  • Doctoral thesis
    Open Access
    Novel perspectives on sustainable value creation: Challenging the status quo by implementing advanced technologies into supply chain processes
    Feldmann, Finn Günther; Hartmann, Evi
    Driven by far-reaching global developments such as climate change, resource scarcity, and demographic change, the creation of business value has been shifting away from merely economic metrics. Instead, to stay competitive, firms are increasingly encouraged to develop sustainable strategies that simultaneously provide economic, environmental, and social benefits – the so-called Triple Bottom Line of sustainability. As an extension of the widely accepted conceptual framework of the natural-resource-based view (NRBV), linking environmental sustainability to gaining a competitive advantage, clean technology strategies have been regarded as one of the cornerstones of a firm’s contribution to sustainable development. This dissertation, compromising four essays with distinct qualitative and quantitative methodological approaches, contributes to the understanding of the process by which firms competitively position themselves in uncertain future environments by pursuing clean technology strategies. To cover a wide spectrum of theoretical and practical applications, the essays examine firms’ respective approaches towards sustainable development from various stakeholder perspectives along the supply chain in addition to two deep dives into distinctive industries (i.e., construction and e-commerce). Thereby, this dissertation strengthens the theoretical basis of various research fields in the context of a firm’s sustainable development and provides essential guidance for practitioners aspiring to implement clean technology strategies while gaining or sustaining a competitive advantage. The first essay, “Exploring barriers towards modular construction – A developer perspective using fuzzy DEMATEL”, examines the adoption of a more sustainable construction method from the perspective of key decision-makers in the construction supply chain. In contrast to conventional construction approaches, modular construction (MC) industrializes the building process by shifting the vast majority of operations to a controlled factory environment. With prefabrication levels of up to ninety percent, MC offers a wide range of benefits: reduction of waste and energy consumption, higher quality, reduced lead times, and better working conditions. This is why it can be regarded as a clean technology allowing firms and the entire industry to develop sustainably. However, the adoption of this approach by housing corporations and developers remains relatively low. Therefore, based on a literature review, the barriers to wider adoption are identified and subsequently evaluated by industry experts regarding their influences on each other by applying the fuzzy decision-making trial and evaluation laboratory (DEMATEL) method. The results provide in-depth insights into the relationships of barriers impeding a further uptake of MC and emphasize the factors that should be given the most attention by practitioners and researchers to promote this cleaner production approach. The second article, “Towards lean automation in construction – Exploring barriers to implementing automation in prefabrication”, focuses on the further improvement of the aforementioned clean technology from the perspective of MC manufacturing firms. While high levels of prefabrication yield a considerable number of advantages concerning sustainable development, recent research showed that current production operations can be regarded as a mere shift from on-site to off-site craftsmanship. Considering today’s technical possibilities, the potentials in terms of increased productivity are, therefore, far from being fully exploited. To contribute to a further improvement of the underlying processes, this study explores barriers inhibiting the implementation of robotics and automation into the manufacturing process of MC using a qualitative study design. More precisely, based on a literature review and semi-structured interviews with eight experts from MC manufacturers in German-speaking countries, seven barrier dimensions with 21 sub-categories are identified. Thereby, a comprehensive framework of barriers to implementing automation in MC is created. From a theoretical lens, the results both strengthen the understanding of implementing advanced manufacturing approaches in construction and provide numerous starting points for future research considering the high number of identified barriers. From the perspective of practitioners, the framework can serve as a guideline for firms aspiring to implement automation in prefabrication by overcoming current barriers most effectively. The third research paper, “Exploring the future of the last mile – A Delphi study on autonomous delivery concepts in 2040”, sheds light on the implementation of clean technologies for fulfilling orders on the last mile by integrating the perspective of various supply chain stakeholders. Associated with cheaper, faster, and more environmental-friendly deliveries compared to traditional delivery approaches, autonomous last-mile delivery (ALMD) has been regarded as a potentially disrupting, sustainable delivery method. However, currently, various barriers are inhibiting the widespread adoption of this clean technology, while researchers agree on its large-scale application in the future. Since the steps towards mass adoption and the associated consequences for the environment and society remain largely unexplored, this study introduces a timeline for future developments of ALMD until 2040 by applying a two-rounded Delphi survey. Through a structured four-step process, twelve provoking projections are developed and subsequently evaluated by 53 last-mile experts regarding the expected timeframe of occurrence, impact, and desirability. Results reveal three distinct future scenarios illustrating a timeline towards mass adoption of ALMD. After achieving technological and legal requirements in the short-term, by 2035 economic viability including a higher demand and willingness to pay for ALMD is expected to be reached. By 2040, mass adoption will be achieved bearing additional environmental and social challenges caused by the high number of operating drones. For practitioners and policymakers, scenario-based recommendations for action are emphasized. From a theoretical perspective, multiple opportunities for future research are outlined by highlighting relevant future developments. Expanding the perspectives, the fourth paper, “Because, after all, it has to serve the customer – The significance of supply chain resilience in the B2C context”, examines a firm’s required capabilities to pursue sustainable development strategies from an end-customer perspective. Since the context of implementing advanced, potentially disrupting technologies can be regarded as highly ambitious and complex, firms rely on dynamic capabilities allowing effective reconfiguration of resources to sustain a competitive advantage. Therefore, this study investigates the relationship between the recently widely discussed topic of supply chain resilience (SCR) as a firm’s dynamic capability and customer satisfaction in a B2C online retail context. As an integral part of sustainability, SCR is defined as the capability of a system to reestablish its former condition or to evolve towards a more desirable state after experiencing a disruption. While SCR has become one of the major research streams of supply chain management (SCM) literature, studies specifically focusing on customer-related outcomes in the B2C context are still scarce. To close this research gap, this study applies a survey of 424 online retail customers to test six hypothesized relationships between conceptual elements of SCR and customer satisfaction using linear regression analysis. The results reveal flexibility, information sharing, and velocity as determinants for higher customer satisfaction. From a theoretical lens, the study contributes to a cross-contextual understanding of SCM-determined antecedents in marketing-related outcomes. Practitioners are provided with recommendations for action to implement SCR as a dynamic capability while contributing to customer satisfaction. Table A-1 provides an overview of the underlying essays of this dissertation, including the applied research design, as well as the research questions.
  • Doctoral thesis
    Open Access
    Drivers of Business Performance – A Perspective on Supply Chain Risk Management Practices, Entrepreneurial Activities and Industry 4.0
    Sturm, Sebastian; Hartmann, Evi
    Companies nowadays are faced with an ever more dynamic and competitive environment. Ongoing globalization, arising and continuing international conflicts, wars, pandemics and natural disasters, and new technologies lead to increasing complexity in the provision of products or services. In this context, supply chain risk management emerged as a vital concept to tackle these new challenges and ensure business continuity. Only companies that succeed in adapting to these rapidly changing conditions can achieve desired business performance goals and survive in the long-run. Therefore, it is of fundamental importance to understand how to ensure and maintain business performance and what factors influence it. Traditional supply chain risk management practices can be categorized into proactive and reactive approaches and include flexibility, agility, robustness, and resilience. However, the antecedents and interactions of these principles and their effects on business performance are not fully understood yet. Additionally, the research field of entrepreneurial activities in the context of supply chain management and their impact on competitive advantage lacks empirical research. Subsequently, with a view to current developments, especially in the area of Industry 4.0, there are major changes in processes, which open up new possibilities and opportunities, but also harbor risks. On the one hand, all of these topics have a sole influence on business performance and thereby on a firm’s long-term success, but they are also interrelated. For this reason, the present dissertation illuminates the intersection as well as the interactions and influences of supply chain risk management practices, entrepreneurial activities and Industry 4.0. In particular, it examines the extent to which these research areas affect business performance to cope with changing environments. To address these questions, the enclosed articles employ three different methodologies: Structural equation modeling, a meta-analysis, and an independent systematic literature review. By linking four different fields, the intersection of these research areas and interdisciplinary knowledge exchange is further advanced. In addition to the theoretical contributions, practical recommendations for action are also highlighted. Overall, the findings of this dissertation contribute to ensuring the long-term competitiveness of companies in a new era of volatile market environments. The first article, “Empirical research on the relationships between demand- and supply-side risk management practices and their impact on business performance”, integrates research on proactive and reactive supply chain risk management practices to better explain how to achieve competitive advantage under these dynamic business conditions. In this regard, the management of supply chain disruptions has become a popular and significant field for researchers and practitioners to handle sudden shocks in the supply chain. Based on a review of existing literature, a research model is developed that links supply chain flexibility, agility, robustness, resilience, and business performance to explore their interactions. The proposed hypotheses are validated by applying partial least squares structural equation modeling on survey data from 89 multi-national companies based in Europe. The findings suggest that the proactive supply chain risk management practices flexibility and robustness enhance the reactive capabilities agility and resilience to withstand disruptions and thereby foster competitive advantage in highly dynamic and uncertain environments. From a theoretical perspective, this is the first time that supply chain flexibility, agility, robustness, resilience, and business performance get empirically investigated altogether in a single model. The study offers a clear separation of these terms and sheds further light on the interactions between these concepts. For practitioners, it is important to understand that investments to mitigate supply chain risks are not just a financial burden but rather improve their ability to compete in dynamic conditions. In addition, the gained knowledge provides managers with support to maximize the impact of resource allocation decisions in the face of supply chain disruptions. The second article, “Linking entrepreneurial orientation and supply chain resilience to strengthen business performance: an empirical analysis”, connects the two distinct but related, previously unconnected research fields of entrepreneurship and supply chain risk management. In this context, entrepreneurial activities have gained increasing popularity through anticipating changing situations and reconfiguring a firm’s resources to generate competitive advantage through quick decision making, new products or processes, and innovative ideas. Following the call to identify additional relationships and drivers of the risk management practices outlined in the first study, an entrepreneurial orientation within a firm is proposed as a possible enabler of supply chain resilience and business performance. The hypotheses are empirically validated by also applying partial least squares structural equation modeling on data from 168 global companies from a second survey. The results suggest that individual dimensions of innovativeness, proactiveness, risk-taking, autonomy, and competitive aggressiveness that represent a firm’s entrepreneurial proclivity enhance supply chain resilience as well as the financial and commercial dimensions of business performance. As a theoretical contribution, the proposed research model is discipline-bridging and delivers greater insights into the supply chain management literature by integrating research on entrepreneurship, supply chain resilience, and business performance fostering cross-disciplinary knowledge exchange. From a practical perspective, the study proposes that companies can achieve additional competitive advantage by pursuing entrepreneurial activities thereby enhancing supply chain resilience and effectively combating supply chain vulnerability. The third article, “Enhancing supply chain robustness and supply chain agility through corporate entrepreneurship: an empirical examination”, picks up from the previous paper and also illuminates the intersection of entrepreneurship and both proactive and reactive supply chain risk management practices. More specifically, the study draws on corporate entrepreneurship and examines its impact on supply chain robustness and agility. Corporate entrepreneurship seeks to build an entrepreneurial orientation inside a firm to discover, develop, and renew combinations of resources or to fully utilize existing capabilities to enhance firm performance by creating new sources of competitive advantage. With regards to supply chain robustness and agility, only a few studies clearly distinguish these concepts in literature and their antecedents remain poorly understood. To address this research gap, this study presents a research model that postulates positive relationships between corporate entrepreneurship, supply chain robustness and agility, and business performance. Once more, the hypotheses are empirically validated by applying partial least squares structural equation modeling on survey data from 168 international firms. The results suggest that corporate entrepreneurship enhances both supply chain robustness and agility and all concepts facilitate different dimensions of business performance. From a theoretical perspective, the study promotes cross-disciplinary knowledge exchange and offers further insights into the supply chain risk management literature. From a practical point of view, managers must be aware that investments in supply chain robustness and agility have different effects on the operation of a supply chain after a disturbance. To create an additional competitive edge, pursuing corporate entrepreneurship is proposed to be advantageous for advancing both supply chain robustness and agility and for addressing supply chain vulnerability. The fourth article, “Do digital technologies matter? A meta-analysis on Industry 4.0 and business performance”, moves on to provide a holistic picture of the benefits of current technological advancements. In this context, the study focuses on Industry 4.0 technologies, such as Artificial Intelligence, Big Data Analytics, or Cloud Computing, that are rapidly transforming businesses and supply chains to create competitive advantage. However, existing studies in this domain either examine only individual technologies or consider only a limited number of dimensions of business performance. Therefore, a systematic literature review and subsequent meta-analysis are employed to address this research gap. During the analysis, business performance is operationalized as a multidimensional concept and the different digital Industry 4.0 technologies are categorized based on the organizational information processing theory. These categories refer to digital technologies facilitating the collection, analysis, and decision making based on data. Furthermore, it is argued that these categories also represent the technological maturity of digital technology. The statistical analysis of 48 empirical studies published between 2011 and 2022 provides support that all Industry 4.0 technologies foster overall business performance. For digital technologies related to the second and third maturity levels, this finding additionally holds for all subdimensions of business performance. As a theoretical contribution, this study provides a holistic picture of the relationships between emerging digital technologies and the multi-faceted concept of business performance. Practitioners can use the results to become aware of the necessity to invest in digital technologies and that the combination of Industry 4.0 technologies from different maturity levels is most beneficial to ensure long-term business success. The fifth article, “A systematic literature review on business performance measurements in operations management”, concludes the covered topic of business performance in this dissertation. In this context, researchers and practitioners alike highlight the need for appropriate performance measures for the management of business processes. Many different metrics are offered in the literature, and the process of selecting the right metrics to capture the multi-faceted concept of business performance can be overwhelming, as systematic categorizations are still scarce. However, companies cannot improve without proper performance measurements. To this end, this paper offers an up-to-date overview and evaluation of performance measurements employed in empirical research published between 2010 and 2022 in peer-reviewed international journals in the domains of operations and supply chain management. The conducted systematic literature review focuses on top-rated journals and highly cited articles and leads to a sample of 79 studies that are further evaluated. The reported metrics are then categorized and synthesized. A comprehensive list of key performance indicators for future studies is presented as a theoretical contribution. From a managerial perspective, the results may be used for evaluating own strategies and identifying areas of improvement.
  • Doctoral thesis
    Open Access
    Energy Efficiency and Market Intervention: An Empirical Study with Product-Level Data
    Kesselring, Anne; Grimm, Veronika
    The dissertation consist of three self-contained chapters, all of which provide empirical evidence on energy efficiency from micro data on household appliances. All empirical work in the dissertation is based on product-level data reporting sales and prices of household appliances in the European Union from 2004 to 2017. The second chapter is co-authored with Thiess Büttner, the first and third chapter are single-authored. The dissertation addresses two related aspects of energy efficiency. First, I study the consumer valuation of energy efficiency, which remains subject to debate despite more than 30 years of research. Second, I examine the impact of two non-price interventions in energy efficiency markets: minimum standards that ban certain products from the market, and energy labels as an information-based policy. The two aspects are connected because the understanding of consumer choices has consequences for policy making, while the evaluation of existing policy instruments helps explain how these consumer choices are shaped by market intervention. The following gives an abstract for each chapter. The first chapter explores the willingness-to-pay for energy efficiency by exploiting variation across products and countries within the EU market for household appliances. Based on scanner data at product level, I use the hedonic method to estimate implicit prices for energy efficiency and derive implicit discount rates. The paper argues that the implicit price will be underestimated when energy consumption is not only a determinant of operating cost but also is positively associated with other features of a product. The empirical analysis confirms that estimates of the willingness-to-pay are higher when this effect is accounted for in the estimation. This is especially true of product types for which the heterogeneity of usage intensity is low. The results thus indicate that the energy efficiency gap is smaller than found in earlier studies. The second chapter analyzes a regulation that banned household appliances with energy efficiency below a minimum standard from the EU’s common market in 2014. Based on a data set reporting unit sales at product level, we conduct an empirical analysis of the product-characteristics space. This permits us to explore the market response in terms of energy efficiency and size of products and to estimate the adjustment cost. Though our results show that the product ban induced a sizable market transformation towards products with higher energy efficiency, we find that the minimum standard is set inefficiently low: if the regulation banned a larger segment of the market, higher energy savings could be obtained at lower adjustment cost. The third chapter paper studies the effect of mandatory eco-labels for durable goods using a bunching design. I exploit discontinuities in the European energy label for washing machines to document consumer inattention in response to the salient quality signal given by the label. The effect on the distribution of consumer choices is reinforced by producers’ menu adjustments, which leads to a sales distribution that is strongly concentrated around the label thresholds. Market transformation occurs not only through a local shift in existing segments of the product space, but also through the build-up of a new market segment at the highest label threshold. Regarding price effects, I find no evidence of green premia and argue that competition is effective in preventing this for the case of the EU.
  • Doctoral thesis
    Open Access
    Essays on Asset Allocation in Retirement Planning, Decumulation Strategies and Insurers' Solvency and Financial Condition Reporting
    Bär, Maximilian; Gatzert, Nadine
    This thesis addresses questions evolving around an adequate design of retirement planning, thereby involving multiple stakeholders, including retirees, product providers, regulators and academia. To this regard, we (i) study behavioral aspects regarding asset allocation up to and beyond retirement, (ii) lay focus on available product options specifically for the decumulation of wealth, (iii) investigate the recently introduced Pan-European Personal Pension Product (PEPP) and (iv) conclude with an investigation of the Solvency and Financial Condition Reports (SFCRs) of German insurers. A first model-based study strives for a better understanding of optimal asset allocation in the context of retirement planning. We modify the traditional shape of utility functions by calibrating objectively justifiable levels of thresholds, thereby incorporating reference point dependence in a normative setting. By comparing the expected utility of a Merton portfolio (i.e., a mix of stocks and bonds) to a constant proportion portfolio insurance (CPPI) product, we investigate differences relative to the results of existing studies of product choices and guarantees in a retirement planning context, and consider the effects of additional income on optimal decisions. Second, we analyze the product landscape regarding the decumulation of wealth based on more than 70 peer-reviewed articles, where we account for (actuarial) analyses of existing products as well as concepts emerging from the recent academic literature. Following the approach of a structured review, we are able to categorize a multitude of decumulation strategies, identify drivers leading to innovative suggestions and derive areas for future research, which ultimately enable a holistic perspective on the optimal drawdown of retirement savings. Third, in light of ageing societies, the interest rate environment and altering circumstances regarding life and work increasingly challenge the vigorousness of public pension systems. With this background, the suitability of PEPP as a possible remedy is investigated. Building on an introduction of the underlying framework and its origins, key definitions and features (e.g., the “Basic PEPP”) are summarized, with the focus on a distinction from current pension products. To conclude, challenges and opportunities upon its market introduction by 2022 are described. Finally, we conduct a descriptive analysis of the SFCRs of German life and non-life insurers that fulfill multilayered tasks of providing products, (long-term) investing as well as managing and mitigating risks. However, studies on the assessment of material risks and of SFCRs remain scarce and are mostly concerned with supervisory purposes. We close this gap by means of a more granular investigation of key indicators, stress test results and a qualitative evaluation of risk profiles, while also considering the particularities arising from different business models.
  • Working paper
    Open Access
    talking back: junge Muslim*innen in Deutschland im Kontext eines (konstruierten) Bedrohungsszenarios
    EZIRE Working Paper : 2023/1, (2023-09-28) Löble, Nike; Müssig, Stephanie; Thielmann, Jörn
    People marked and racialised as Muslims are often portrayed as danger-ous subjects because of the – sometimes supposedly – attributed cultur-al, religious, or ethnic affiliations. At the same time, their own experienc-es of racism go largely unnoticed. In addition, they face difficulties in ad-dressing these experiences. On the basis of four interviews with young Muslim adults, I examined different possibilities of response and speech of young Muslims in the context of a (constructed) threat scenario. Stu-art Hall’s and Judith Butler's reflections on the concept of interpellation form the theoretical framework. Based on analytic categories according to bell hooks, I conceptualised different forms of talking back. This ap-proach allows the perception of the interview partner’s subject positions and their agency and, at the same time, the consideration of their situat-edness and conditionality within the security dispositive.
  • Working paper
    Open Access
    Chat-GPT in der juristischen Lehre: Fluch oder Segen?
    (2023-09-28) Zwickel, Martin
    Derzeit wird sehr intensiv über die Auswirkungen großer, auf künstlicher Intelligenz (KI) beruhender Sprachmodelle wie Chat-GPT auf die Tätigkeit von Juristinnen und Juristen diskutiert. Unklar ist aber auch, welche Konsequenzen für die juristische Ausbildung und Lehre sowie für die Rechtsdidaktik zu ziehen sind. Soll der Einsatz von KI-Tools im Studium verboten werden? Bieten sie Chancen zur didaktischen Optimierung der Ausbildung? Welche KI-Tools können die Juristenausbildung ggf. unterstützen? Das Arbeitspapier geht diesen Fragen nach.
  • Doctoral thesis
    Open Access
    Vertieft curricular analysieren: Eine designbasierte Untersuchung der prozessorientierten Sachanalyse zur digitalen Transformation von Lernsituationen
    Texte zur Wirtschaftspädagogik und Personalentwicklung : 33, (epubli, 2023-08-07) Leppert, Stephan; Wilbers, Karl
    Die Arbeitswelt, auf die die Berufsschule vorzubereiten hat, befindet sich im Wandel. Mit den sog. 3D – dem demographischen Wandel, der Digitalisierung, der Dekarbonisierung – ist der komplexe Veränderungsprozess grob umschrieben. Dieser Veränderungsprozess muss Fol-gen für den Unterricht haben. Ein Hebel ist die Sachanalyse. Sie dient der gedanklichen Durch-dringung der Inhalte als Vorbereitung für die Festlegung von Lernzielen bzw. Kompetenzer-wartungen. Dabei werden auch die Arbeits- und Geschäftsprozesse in die Reflexion einbezo-gen. Hier findet jedoch eine umfangreiche Digitalisierung statt – mit der didaktischen Folge, dass „technische Akteure“ in den digitalisierten Prozess wirken bzw. Prozesse verschwinden. In der vorliegenden Arbeit wird ein klassischer didaktischer Topos – die Sachanalyse – neu gedacht. Die Sachanalyse wird als Instrument der vertieften curricularen Analyse begriffen. In der Arbeit werden Unternehmensprozesse der zentrale Bezugspunkt einer vertieften curricu-laren Sachanalyse. Die Arbeit zeigt – in Form von Gestaltungsprinzipien – auf, wie eine pro-zessorientierte Sachanalyse zu gestalten ist. Hintergrund dieser Entwicklung ist ein Design für die prozessorientiere Sachanalyse, die im Zuge designbasierter Forschung (DBR) in drei Zyklen – auch unter den Bedingungen der Corona-Pandemie – entwickelt, erforscht und evaluiert wurde.
  • Doctoral thesis
    Open Access
    Interconnected Value Creation in the Digital Era. How Industry 4.0 Transforms Buyer-Supplier Relationships and Supply Chain Structures
    (2023-08-07) Veile, Johannes Wolfgang; Voigt, Kai-Ingo
    Industry 4.0 implies the transformation of industrial value creation based on the digitalization, virtualization, and comprehensive interconnection. It promises numerous advantages for both individual companies and entire supply chains. The present dissertation analyzes how Industry 4.0 affects industrial value creation from a supply chain perspective. It comprises seven scientific articles that shed light on selected topics at the nexus of Industry 4.0 and Supply Chain Management, providing an in-depth analysis of this field. In particular, the dissertation reveals changes that Industry 4.0 brings for industrial buyer-supplier relationships and holistic supply chain structures, such as platforms and ecosystems. By presenting new findings, interpretations, and discussions, the dissertation adds to the state of research and contributes to further stimulate scientific discourse. The findings and discussions also provide implications for business practice that help encourage advancements within this field.
  • Book
    Open Access
    Learning and Teaching EU-Latin America and the Caribbean Relations. An open educational resource
    (FAU University Press, 2023-08-07) Gardini, Gian Luca
    This is not a simple text book. This is a complete teaching tool meant to provide lecturers in particular - but also students - with an interactive, bilingual, multimodality and cost free instrument to facilitate the teaching and learning of an understudied topic in international affairs such as EU-LAC relations. This teaching tool can be used as a full course or as complementary material for courses in a wide range of disciplines and subjects, from International Relations to EU and Latin American Studies, from Diplomacy and Foreign Policy Analysis to International History, Regionalism, Governance or more specific topics discussed in the teaching tool. Furthermore, this tool is designed for lecturers with students of all level from BA upwards. This means that the lecturer has the possibility to go more or less deep into the topics and make content more or less sophisticated. The material is equally suitable to teach university students at BA, MA and PhD level and professionals, to train diplomats, ministerial staff or journalists and local administrations officials. The contributors thought of this teaching tool as an all-round functional instrument for lecturers of different kind, level, and background addressing diverse audiences.
  • Doctoral thesis
    Open Access
    Advanced Patent Analytics: Patent Indicators in Strategic and Intellectual Property Management
    (2023-08-07) Guderian, Carsten Christian; Brem, Alexander
    Patents constitute one of the most comprehensively available and frequently used information sources to im-prove strategic and intellectual property management decisions, amongst other in innovation management, research and development management, technology management, competitive and technology intelligence, and patent/technology valuation. Unlike other innovation/technology and related performance indicators such as research and development expenditures, which are only available for a limited number of firms that have to publish their efforts due to publication and reporting requirements, patents yield information on research and development outputs and are publicly available for all firms that choose to patent-protect their proprietary knowledge – irrespective of their sizes, locations, or publication and reporting requirements. This provides in-sights into the technology base, strategy, and development of various firms, from startups to small- and medi-um-sized firms and international conglomerates. However, issues inhibiting the usefulness particularly of pub-licly available patent data and patent analytics exist. Some of these issues pertain to correct patent ownership assignment, the incorporation of legal status information, and incorporation of quality differences in patents and the technologies which they protect. Consequently, various patent indicators have been developed in prior research. This dissertation focuses on advanced patent analytics by providing an overview of the status quo and devel-oping novel insights to support the strategic and intellectual property management. To answer the overarching research question, i.e., what is the status quo in patent analytics and how can advancements support the stra-tegic and intellectual property management, this dissertation comprises five distinct yet related research pro-jects. Herein, the development of patent indicators used in patent analytics and typical empirical results are traced, and patent indicators are linked to the concept of sustainability, yielding ample future research opportu-nities and insights for practitioners in the first research project. Further, it is identified that additional insights can be derived when complementing conventional patent indicators with smart patent indicators and longitudi-nal data in technology landscaping analyses in the second research project. Furthermore, potential relations between open innovation collaborations and intellectual property are detected by drawing on multiple stages beyond the modus operandi and multiple levels of analysis in the third research project. Moreover, the innova-tion performance of open innovation collaborations is evaluated based on patent measures by incorporating ownership information in the fourth research project. For this purpose, on prior research from other application areas is drawn upon to assess the presence of open innovation collaborations more precisely. In addition, prior research on integrated intellectual property strategies based on patents and trademarks is revisited in the fifth research project. For this dissertation and the individual research projects, extant literature particularly from the strategic man-agement and intellectual property management realm is drawn upon. The covered prior research topics com-prise – but are not limited to – competitive and technology intelligence, technology landscaping, firms’ financial and innovation performances, intellectual property like patents and trademarks and intellectual property integra-tion, patent analytics and patent valuation, patent indicators and metrics, in particular (smart) patent indicators, sustainability, and open innovation, open innovation modes, and (patent-based) open innovation measures. For the individual research projects, a variety of methods, levels of analysis, and unique data sets are relied upon. The first research project constitutes a literature review of 123 publications on patent indicators and is focused on the patent/patent portfolio level. The second research project constitutes a technology landscaping case study on 24,264 patent families from the smart houses technology and is focused on the technology field (patent families) level. The third research project constitutes a mixed-methods approach by combining (1) a conceptual paper on the relationship between intellectual property and open innovation and (2) a case study on the development of Lyrica and Pregabalin based on publications, interviews, and patents. This case study is focused on the invention (patents) level. The fourth research project constitutes a quantitative-empirical anal-yses (ordinary least squares regressions) of 21,898 patent families stemming from open and closed innovation collaborations by 44 German small- and medium-sized firms with 9,902 entities in their corporate trees. This quantitative-empirical analysis is focused on the invention (patent families) level. The fifth research project con-stitutes a multi-methods approach based on quantitative-empirical analyses (ordinary least squares regres-sions) of (1) 17,045 European firms and (2) a subsample of 182 European firms. This research project is fo-cused on the firm (patent and trademark portfolios) level. In answering the overarching research question, the joint findings and implications of this dissertation suggest that patents yield valuable insights for strategic and intellectual property management, particularly when ac-counting for common issues such as the harmonization or correct assignment of ownership, incorporation of legal status information and associated enforceability, as well as aspects affecting patent indicators like patent citations. Patent-based information, when properly and effectively used, provides valuable insights for a variety of firms and a plethora of use cases. However, the results also echo the famous colloquial saying of “garbage in, garbage out”: if patent analytics are based on incomplete data and deficient patent indicators, biased results are inevitable, leading to suboptimal strategic decisions, and ultimately an inefficient use of firm resources. Moreover, decision-makers should make use of options to combine patent-based data with other internal and external data sources, including performance data. It is also beneficial to turn to experts in preparing, conduct-ing, and interpreting patent analytics’ results and to pertain to the limitations of these analyses. In addition, harmonized patent data that accounts for patents’ legal status and ownership structures as well as smart and other novel patent indicators may also be applied in economic, legal, and other managerial perspectives on patents, including litigation, standard setting, or the development of dominant designs.
  • Doctoral thesis
    Open Access
    Rethinking the future of sustainable supply chain management: A natural resource-based view
    (2023-08-03) Benz, Lukas; Hartmann, Evi
    Global supply ecosystems are increasingly effected by the paradigm shift towards a more sustainable future. This is not only driven by upcoming legislations, resource scarcity, and social responsibility towards the environment, but also by the possibility to achieve a competitive advantage enabled by sustainable management. The natural resources-based view with the three interconnected strategies pollution prevention, product stewardship, and sustainable development thereby is a widely used conceptual framework to examine the relationship between business and environmental sustainability and competitive advantages. This dissertation comprises four essays contributing to the achievement of competitive advantage in the light of the natural resource-based view, on a company, and on a supply chain level. Therefore, a variety of qualitative and quantitative methodological approaches is applied. Thereby, different perspectives based on the strategic capabilities of the natural-resource based view are adopted to both expand the theoretical bases of different research fields, and to provide guidance for practitioners for the further development of organizations and supply chains. The first article, “Development of a search and rescue framework for maritime freight shipping in the Arctic”, related to the strategic capability pollution prevention, empirically investigates necessary capabilities for search and rescue in the Arctic region. The Arctic sea routes, also driven by climate change and melting polar ice, offer not only a solution for capacity bottlenecks, but could also lower costs due to potentially less fuel consumption and pollution. These developments have a positive effect on the volume of traffic in the Arctic, making a comprehensive search and rescue capabilities even more necessary to ensure safety. To contribute to this trend, based on a literature review, six dimensions of search and rescue in the Arctic are identified. These dimensions form the starting point for semi-structured interviews conducted with 24 experts from business, science, and politics/NGOs. The results show a total of 23 top-codes and 50 subcodes, forming, integrated with the previously identified dimensions port infrastructure, search and rescue equipment, communication technology, navigation technology, standards and agreements, and cooperation, a search and rescue framework as a result of the research. Thereby, from a theoretical perspective, the paper offers a framework for the systematic development of search and rescue in the Arctic. From a practical perspective, the results are able to serve as a starting point for further development of search and rescue activities in the Artic, as well as for contextualization of current activities. The second essay, “Capabilities for digital servitization: Evidence from the socio-technical systems theory”, related to the strategic capability product stewardship, identifies required capabilities for companies to develop and provide smart product-service systems. Sustainability and disruptions such as COVID-19 have an impact on companies, which are also affected by the two intertwined trends Industry 4.0 and servitization. Research about digital servitization, the transition between product offering and providing smart product-service systems, is still limited, which poses challenges for companies. To close this research gap, an exploratory multiple case study comprising 24 interviews is proposed. Thereby, four manufacturing companies with a total of 18 interviewees have been considered. The cases are supplemented with six additional interviews with experts in supporting roles, such as strategy consulting and business model innovation, and other secondary data sources for triangulation. Socio-technical systems theory comprising an internal, and an external dimension is adopted to cover the relevant capabilities to offer smart product-service systems. A total of 46 capabilities are identified, and classified into the dimensions of the underlying theory. The results contribute to the further development of the practical and theoretical understanding of digital servitization. The third article, “Critical success factors for circular business model innovation from the perspective of the Sustainable Development Goals”, related to the strategic capability sustainable development, represents an empirical contribution for the understanding of critical success factors for company´s transformation from linear to circular, as well as their connection to the Sustainable Development Goals. Due to pressure for companies to enhance resource productivity and efficiency, and also driving sustainable development, circular business model innovation supports the journey to circularity, which is accompanied by a variety of barriers and challenges. To support companies in the innovation process, an expert interview-based approach for the identification of critical success factors for circular business model innovation is conducted. In sum, 30 semi-structured interviews with experts from politics/NGOs, science, and business are presented, whereas different industries have been taking into account. The interviews have been analyzed afterwards using a qualitative content analysis to identify common words and phrases. As a result of the research, a framework comprising nine top-codes, and 37 sub-codes is developed. Afterwards, the critical success factors are connected with the Sustainable Development Goals. Thereby, the study extends the theoretical basis of circular business model innovation research, and offers implications for practitioners to support innovation processes. Within the fourth paper, “Exploring the circular economy paradigm: A natural resource-based view on supplier selection criteria”, criteria for circular supplier selection with a focus on electric vehicle supply chains are examined using the fuzzy decision making trial and laboratory method. In this paper, as the natural resource-based view is used as the underlying theory, all strategic capabilities are addressed. The transfer of circular principles to supply chain management is further driven by limited resources, legislation, as well as social responsibility. Especially within electric vehicle supply chains, critical materials from critical countries of origin are in use, which highlights the importance of circularity for this sector. The low level of vertical integration thereby emphasizes the role of the suppliers, and related to this supplier selection for the creation of self-sufficient production systems. To contribute to this field of research, a fuzzy decision making trial and laboratory approach is applied in an electric vehicle case study. Within the first step, based on a literature review, criteria for circular supplier selection are identified, and classified into the strategic capabilities of the natural resource-based view afterwards. The set of criteria is judged and refined by an expert panel afterwards. In the second step, interviews with the experts for value collection are conducted. Based on the results, the mutual influence of the criteria is determined. The results of the paper show that environmental standards, environmental-related certifications, resource consumption, and waste generation are the most important supplier selection criteria in the considered case. The criteria are classified into the categories causes and effects, followed by a discussion of the prominence of the criteria, as well as the development of a strategic map. Furthermore, the results are discussed in the light of the natural resource-based view. From a theoretical perspective, the results contribute to the research on supplier selection criteria within circular supply chains, especially for electric vehicles. From a practical point of view, the study supports procurement managers in supplier selection processes.
  • Doctoral thesis
    Open Access
    IT Architekturen für zukünftige Kooperationsstrukturen im vernetzten Gesundheitswesen
    (2023-07-31) Derouiche, Haithem; Bodendorf, Freimut
    Das Gesundheitswesen in Deutschland befindet sich in einem stetigen Wandel. Neben der demografischen und sozialen Entwicklung spielen moderne Informations- und Kommu-nikationstechnologien, die Pharmaindustrie sowie die Medizintechnik eine große Rolle.Die Schnittstellenproblematiken entlang der Geschäftsprozesse im Rahmen der Digitali-sierung des deutschen Gesundheitswesens zeigen immer mehr, dass eine nahtlose Integra-tion der Versorgungsprozesse sowie ein digitalisierter Datenaustausch zu einer Verbes-serung der Qualität und Wirtschaftlichkeit der Versorgung führt.Im Rahmen dieser Arbeit werden die verschiedenen erwarteten Entwicklungen anhand der Szenariotechnik beschrieben. Die vorgestellten Szenarien dienen als Fundament, um die Anforderungen an die veränderten Geschäftsprozesse und deren Schnittstellen zu ermitteln. Anschließend wird eine kontextsensitive IT-Architektur entwickelt, die Prob-leme der intelligenten Geschäftsprozesssteuerung und -integration in die heutigen Digi-talisierungsbestrebungen adressiert und neue Akteure im Gesundheitswesen sowie deren Services einbindet. Diese Architektur ermöglicht, dass die Leistungen der Akteure über Sektorengrenzen hinweg miteinander verbunden und orchestriert werden. Designkrite-rien wie Schnittstellenorientierung, Interoperabilität, Kontextsensitivität, Modularität und selbstlernende Steuerung spielen dabei eine maßgebliche Rolle.
  • Doctoral thesis
    Open Access
    Essays on Empirical Capital Markets Research and Sustainable Finance
    (2023-07-17) Glück, Maximilian; Scholz, Hendrik
    This thesis consists of three papers that contribute to the literature on empirical capital markets research including the application of factor returns, corporate social responsibility in stock markets and ethical portfolio investing. The first paper shows why currency conversion of downloadable factors may matter depending on the inves-tor’s perspective. It shows how to convert the currency of long and long-short factors and illustrates the practical and statistical relevance of currency conversion by empiri-cally analyzing the performance of European equity funds from a non-USD investor’s perspective. The second paper examines the effect of ESG rating events on stock returns and risks. Event-study methodology enables the analysis of abnormal returns around ESG rating changes to examine their relevance for stock value. A difference-in-differences framework allows to assess the effect of rating changes on different stock risks. The third paper investigates whether the integration of gender diversity as ethical portfolio criterion pays for investors. Evaluating performance and risk exposures of portfolios in 19 international markets provides evidence on whether gender diversity represents a business case beyond a moral case for investors. Further analysis assesses the role of country gender parity as contextual factor in the relation between gender diversity and the performance and risk of portfolios.