Research Report

Transcription

Research Report

research
report
2016
HHL RESEARCH REPORT 2016
20 Anniversary of the
Academic Program at
th
Long-Standing Companions and Honorary Doctors Give Their
“The success story of Germany’s oldest
graduate school of management can only
be referred to as remarkable and outstanding. This institution – which was founded
in 1889, ten years prior to the Harvard
Business School – deserves utmost respect.
After its re-establishment in 1992, HHL
Leipzig Graduate School of Management
has developed into one of the leading
business schools in Germany. This is also
proven by numerous rankings which can
rightly be looked upon with pride. By being
one of our top educational establishments,
the school has also become a figurehead
for Saxony’s multi-faceted university landscape. The school significantly enriches
and complements the scene by contributing excellence and the highest standards
within its extended field of expertise. I
would like to express my special appreciation for what you have achieved, while at
the same time sending my best wishes for
the future of HHL: a continually positive
development regarding national and international recognition, an always excellent
quality of teaching and research results,
expansion of faculty and a secure and
sustainable financial and structural base,
as well as increasing student numbers – all
resulting in a further strengthening of the
already existing outstanding academic
standards of HHL.”
Dr. Eva-Maria Stange
Minister of State for Science and Art
of the Free State of Saxony, Germany
“What impressed me most
over the last 20 years is HHL’s
vitality and the timeliness of
its academic offer. One of the
oldest business schools forms
up to renew and review critically what business schools,
particularly in the Anglo-Saxon
world, have been teaching for
almost 40 years as they are
questioning more and more
their teachings. HHL’s holistic
approach is more productive
than the one taught right now.
For the Leipzig-based university, economics is not a theory
ruling over us but rather a science serving us in the context
of our culture. This is exactly
what most business schools are
lacking.”
Prof. Dr. Kurt Biedenkopf
Former Prime Minister of the Free State of
Saxony, Germany, Honorary Doctor of HHL
(2008)
“As a student over 40 years
ago I had already heard from
Professor Deutsch about the
outstanding significance
of HHL as the birthplace of
German business studies.
Therefore I was very happy
to be able to contribute to
HHL’s start in the new time
as a business school after
reunification in my position as the Saxon Minister
of Finance. HHL used that
chance as the very positive
development shows. For the
coming 20 years, I wish the
school further noteworthy
academic success and wide
international recognition so
HHL will remain a scientific
lighthouse and important
motor for the development of
Saxony.”
Prof. Dr. Georg Milbradt
Chairman of the Board of the Kramer
Foundation and former Prime Minister of the
Free State of Saxony, Germany
Resumption of the
HHL (1996–2016)
Personal View on the Development of HHL
“Initially established in 1898, HHL Leipzig
Graduate School of Management has gone
through an extremely turbulent history.
After almost disappearing during GDR
(German Democratic Republic) rule, it has
been re-established following German reunification and since then has developed
into a highly recognized business school,
both nationally and internationally. This
success story is most impressive as HHL,
with its strong commitment to excellent
teaching and relevant research and
consulting, has been able to establish a
strong network of alumni and sponsors.
HHL has found its niche in the competitive environment of business schools and
created its own particular brand. It is,
without any doubt, a strong addition to
the portfolio of higher education institutions in Saxony.”
Prof. Hans Müller-Steinhagen, Dr.-Ing. habil.,
DEng/Auckland, Drs. h.c.
Rector of Dresden University of Technology,
Germany and Chairman of the Rectors’
Conference of Saxony, Germany
“I would like to sincerely
congratulate HHL on this
anniversary. It makes me
very happy that the visions
of the fathers of the re-establishment have become
reality – to train a capable,
responsible and entrepreneurial minded management elite. I wish HHL much
luck and success on its way
to the top 10 of the European
League of graduate management schools. May the grouping of teaching, research and
practice contribute to secure
the high academic level and
to continue to establish the
position in international
higher education competition.”
Prof. Dr. Heribert Meffert
Dean of HHL (1995–1997), Academic Director
of CASiM, HHL Leipzig Graduate School of
Management
“What a privilege to be
asked to be the Dean of
HHL Leipzig Graduate
School of Management,
the world's oldest school of
management.
What a pleasure to be
working with a dedicated
group of faculty and staff.
How much fun to teach a
small class of very bright
entrepreneurially-minded
and highly motivated students. And how inspiring
to be living in a city that
was shaped by its amazing
past and is now undergoing transformational
change. The three years
(1997–2000) that I was able
to spend at HHL in Leipzig
are unforgettable.”
Prof. Dr. Gert Asmuss, Ph.D.
Dean of HHL (1997–2000)
© Nathan Mandell
“HHL is an institution that shares
some of my core values as a scholar.
It b
uilds the connection between
academic scholarship, theoretical
development, and real world practice. That is one of the hallmarks of a
business school.”
Prof. Michael E. Porter, Ph.D.
Bishop William Lawrence University Professor,
Harvard Business School, USA, Honorary
Doctor of HHL (2008)
“HHL is a vibrant institution
that combines the best of research with a practical orientation, and with regular
and productive interaction
with businesses. I wish the
faculty and staff all the best
on this 20th anniversary of
the resumption of teaching.”
Prof. Michael Spence, Ph.D.
Recipient of the 2001 Nobel Memorial Prize
in Economic Sciences, Honorary Doctor of HHL
(2012)
“My experience and interaction with
the HHL faculty and students was of
the highest quality. I am honored to
have received an honorary degree
from HHL.”
Prof. Philip Kotler, Ph.D.
S.C. Johnson & Son Professor of International
Marketing at the Kellogg School of
Management, Northwestern University, USA,
Honorary Doctor of HHL (2012)
“Uniquely, the HHL is not only simultaneously the oldest and newest
business school in Germany, but also
the embodiment of a remarkably
successful rebirth; following its reestablishment in 1992, in less than
twenty years it has already become
one of the top three business schools
in Germany and one of the best in
Europe. A feat deserving of high
praise. As someone who has seen
the renaissance of the ifo Institute
first-hand, I can appreciate what a
great deal of dedication such a swift
ascent calls for. “
Prof. Dr. Hans-Werner Sinn
President of the ifo Institute and Professor of
Economics and Public Finance at the University
of Munich LMU, Germany, Honorary Doctor of
HHL (2013)
“As an innovation researcher
and teacher, I was impressed
with HHL's activities at the
leading edge of business
today and tomorrow. From
leading innovation to digital
transformation, from smart
factories to global operations, and from intrapreneurship to entrepreneurship were just some of the
topics that resonated with
me. HHL has a remarkable
faculty and student body led
by an exceptional dean and
his team, and is guided by
the wisdom, experience, and
generosity of its executive
bodies. I vividly remember many discussions with
professors, managers, and
students, including Professors Pinkwart, Meffert,
Schwetzler, Kirchgeorg, and
Trustee Jozsef Bugovics –
just to name a few. What
impressed me in particular
was an after dinner discussion with students, who
expressed their pride and
gratitude for being part of
the HHL community.”
Prof. Stefan H. Thomke, Ph.D.
William Barclay Harding Professor of Business
Administration at Harvard Business School,
USA, Honorary Doctor of HHL (2015)
HHL RESEARCH REPORT 2016 3
Content
The innovate125 HHL Future Concept:
Successfully Entering the Second Half . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Scientific Advisory Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Center for Advanced Studies in Management (CASiM) . . . . . . . . . . . . . . . . . . . .
Center for Entrepreneurial and Innovative Management (CEIM) . . . . . . . . . .
05
06
07
09
STRATEGIC AND INTERNATIONAL MANAGEMENT
Dr. Ing. h.c. F. Porsche AG Chair of Strategic Management
and Family Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Dr. Arend Oetker Chair of Business Psychology and Leadership . . . . . . . . . . 13
ICCR Chair of Corporate Responsibility and Governance . . . . . . . . . . . . . . . . . 15
Alfried Krupp von Bohlen und Halbach Junior Professorship
in International Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Center for Strategy and Scenario Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
FINANCE, ACCOUNTING AND CORPORATE GOVERNANCE
Chair of Accounting and Auditing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Chair of Financial Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sparkassen-Finanzgruppe Junior Professorship
in M&A of Small- and Midsized Entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Center for Corporate Governance (CCG) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
24
27
28
ECONOMICS AND REGULATION
Chair of Economics and Information Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Chair of Microeconomics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Chair of Law of Economic Regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Center for Health Care Management and Regulation (CHCMR) . . . . . . . . . . . . . 35
SUSTAINABILITY AND COMPETITIVENESS
Heinz Nixdorf Chair of IT-based Logistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dr. Werner Jackstädt Chair of Economic and Business Ethics . . . . . . . . . . . . .
Sparkassen-Finanzgruppe Chair of Macroeconomics . . . . . . . . . . . . . . . . . . . . .
SVI-Endowed Chair of Marketing, esp. E-Commerce and
Cross-Media Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Junior Professorship in Retail and Multi-Channel Management . . . . . . . . . .
39
42
45
49
52
INNOVATION AND ENTREPRENEURSHIP
Stiftungsfonds Deutsche Bank Chair of Innovation Management
and Entrepreneurship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Schumpeter Junior Professorship in Entrepreneurship
and Technology Transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Center for Leading Innovation and Cooperation (CLIC) . . . . . . . . . . . . . . . . . . . 60
Publications and Conference Presentations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Imprint . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
4 HHL RESEARCH REPORT 2016
“More than almost any
other business school
in Europe, HHL has
committed to the approach
of rigor and relevance in
economic research, which
was developed by its first
alumnus and great doyen
of business administration,
Eugen Schmalenbach.”
Dear Readers of our HHL Research Report,
Launching its third biennial Research
Report since the implementation of the
innovate125 HHL Future Concept, the
university enters the anniversary year
by confidently emphasizing its goal of
leading the first business faculty established in the German-speaking region into the top ten graduate business
schools in Europe by 2023 . Many growth
and quality-related goals defined in the
HHL Future Concept have already been
achieved – most of them earlier than
expected . These milestones are not only
confirmed by external assessors, for
instance, within the framework of the
successful re-accreditation by AACSB,
but also reflected by this report: in the
increasing number of researching colleagues and their projects on the one
hand and the motivating testimonials
which HHL was fortunate to receive
from prominent supporters on the occasion of the 20th anniversary of the
school resuming instruction and which
we gladly would like to share with you .
Doubling the number of professors
and post-doctoral candidates and additional research projects, which are
conducted following strict scientific
standards and focus on fundamentals
as well as practical application, will also
contribute to improving the conditions,
and consequently also the output and
outcome, of the research conducted at
HHL . Other important factors include
significant structural alignments such
as the group structure introduced as
part of innovate125 and the successful
establishment of the cross-group CASiM
and CEIM centers . They help to increase
synergies in research and teaching and
sharpen HHL’s specific profile .
More than almost any other business
school in Europe, HHL has committed
to the approach of rigor and relevance
in economic research, which was developed by its first alumnus and great
doyen of business administration, Eugen
Schmalenbach . The same applies to the
training of qualified future executives,
aiming for a holistic economic focus as
well as effective, responsible and entrepreneurial leadership . This specialization which is required to achieve visibility of the research is accompanied by the
willingness for close cooperation and
interaction with various sub-disciplines,
which has increased in number over the
course of the innovate125 implementation and were extended by areas intersecting with other research fields such
as law, psychology and medicine .
HHL is closely connected with the areas of strategy and international matters, finance, accounting and corporate governance as well as innovation,
therefore continuing to develop into an
ideal research partner for the economy
and science in central fields of the future through its topical focus on entrepreneurship, digital leadership and
transformation, sustainability and competitiveness as well as economics and
regulation . The Future Concept has been
updated for this purpose, now clearly focusing on quality .
We look forward to exchanging views
with you and further examining this
topic . May the report provide you with
many ideas and much inspiration for
this purpose .
Yours,
Prof. Dr. Andreas Pinkwart
Dean of HHL Leipzig Graduate School
of Management
5
The innovate125 HHL Future Concept:
Successfully Entering the Second Half
Since its foundation in 1898, HHL has
regarded itself as a trailblazer in training business people and developing business administration as a scientific discipline and continues to be committed to
effectively supporting management and
corporate leadership through constant
innovation in research and teaching.
Particularly during times of fundamental change, constant technology-driven
acceleration and increased disparities,
new concepts and methods to better
handle complexities and promote sustainable development in companies
and society will have to take center
stage in the future. HHL’s innovate125
“HHL’s innovate125 Future Concept is characterized by the overarching vision of a New Leipzig
Leadership Model for responsible corporate leadership.”
Future Concept, which was developed
for this purpose, is characterized by
the overarching vision of a New Leipzig
Leadership Model for responsible corporate leadership.
With the successful implementation
of the new group structure, the establishment of the Center for Advanced
Studies in Management (CASiM), which
focuses on select research topics such
as trust and change, as well as the opening of the Center for Entrepreneurial and
Innovative Management (CEIM), which
shapes HHL’s entrepreneurship competency, the school has put its key building blocks in place. At the same time,
the faculty grew significantly through
new appointments, more than doubling
in size over the last couple of years. This
development is reflected by the organization chart of the faculty and is accompanied by another significant increase in
student numbers as well as a major expansion of the research infrastructure.
Opening itself more towards neighboring disciplines, international research
institutions and decision makers in the
economy, HHL broadened its base for the
continued shaping of the school’s profile.
To be able to place among Europe’s top
ten graduate business schools by 2023,
HHL has once again set itself highly
ambitious goals for the next five years.
They will focus rather on continuous
quality improvement than just growth.
While HHL does not expect significant
changes in numbers, the university will
continue to strive towards becoming
THE personal business school in Europe
with a unique national and international
network as well as a clear orientation on
general management, responsible corporate leadership and entrepreneurship.
Considering the growing discrepancies
between how business schools view
themselves and how they are perceived
by the economy as well as the need to realign business administration, demanded, for instance, by worldwide leading
companies and accreditation agencies
through the Business Education Jam
study, HHL feels reassured in its fundamental understanding of research built
on professional rigor and practical relevance and plans to continue to develop
this concept as the school’s trademark.
“HHL will continue to strive towards becoming THE personal
business school in Europe with
a unique national and international network as well as a
clear orientation on general
management, responsible corporate leadership and entrepreneurship.”
For this purpose, digital technologies
are strategically integrated into research, teaching and knowledge transfer. This allows for big data to be used for
empirical examinations with faster and
more significant results and facilitates
the simulation of complex learning models. New opportunities with web-based
instruction can be connected with the
cognitive, emotional and social benefits
of learning research through new teaching methods, such as flipped learning,
in a manner that inspires both students
and teachers. The practical relevance of
research and consequently its benefit for
the economy and society is strengthened
in a sustainable fashion by aligning the
research projects, which are integrated
into instruction, with findings relevant
to third parties.
HHL organizes its research and teaching activities in topic-related groups to consolidate its strengths and be able to profile new focal points.
“HHL should define a maximum of two t opics in which
it wishes to distinguish itself
and obtain a place in the
science system in Europe
and around the world over
the next few years.”
From left to right: Prof. Dr. Andreas Pinkwart, Prof. Michael Czinkota, Ph.D.,
Prof. Dr. Uschi Backes-Gellner, Prof. Dr. Holger Burckhart
Prof. Dr. Holger Burckhart
Rector of the University of Siegen
SCIENTIFIC ADVISORY BOARD
“The Community Regards HHL
as a Serious Research Institution”
External scientists comment on HHL’s scientific strategy and activities at regular
intervals. Renowned experts Prof. Dr. Uschi Backes-Gellner (Professor for Business Economics, Personnel Economics and Empirical Research at the University of
Zurich), Prof. Dr. Holger Burckhart (Rector of the University of Siegen), Prof. Michael
Czinkota, Ph.D. (Associate Professor of International Business and Marketing at
Georgetown University’s McDonough School of Business, Washington D.C., and Professor Emeritus of the University of Birmingham, UK) and Prof. Robert G. Hansen,
Ph.D. (Senior Associate Dean of Tuck School of Business at Dartmouth) are on the
school’s Scientific Advisory Board. In the following interview, Prof. Dr. Burckhart
comments on science at HHL.
How does the Scientific Advisory
Board assess research, teaching and
knowledge transfer at HHL in general?
Prof. Dr. Burckhart: For the last five
years, HHL has been on an excellent
path regarding its research, teaching
as well as its campus management. The
researchers at HHL certainly play an important role in this context. Five years
ago, I perceived them as ‘islands’ but that
situation has changed. Thanks to the
group structure, questions may now be
accumulated for research and teaching
and processed in a cooperative manner
like never before at the business school.
The community regards HHL as a serious research institution. CASiM and
CEiM are particularly relevant in this
context as they focus on interdisciplinary questions across groups. In teaching, the level of understanding among
the lecturers has increased significantly
thanks to the cooperation. This results
in synergies which are also reflected
in the growing number of students, for
instance.
How important is the focus on general
management in these developments?
Prof. Dr. Burckhart: It is a characteristic of HHL’s profile which still needs
to be emphasized more but also to be
developed more as a system of learning. The topic must also be addressed
by research – with how HHL defines itself, much more in-depth and by filling
a market niche. HHL will never be able
to rival its great, much valued competitors but it can and should continue to
develop its excellence in the market
niches. The subject of general management represents a major component in
this regard. That being said, HHL should
continue to provide its students with a
broad spectrum of fields, also offering
other areas of research and teaching.
HHL should find those niches befitting
its size and the profile of its researchers
in this regard as well.
How would you assess
HHL’s basic research?
Prof. Dr. Burckhart: I believe that HHL
should represent the entire scope of
research in a vertical perspective –
from basic research to application.
Considering its size, the Leipzig business
school should define a maximum of two
topics in which it wishes to distinguish
itself and obtain a place in the science
system in Europe and around the world
over the next few years. This will force
the university to practice a high level
of interdisciplinarity and cooperation
amongst the chairs and researchers due
to the size of the school. The establishment of more junior professorships and
new forms such as fellows as well as the
expansion of the school for doctoral candidates would be advisable.
What recommendations does the Scientific Advisory Board have for the school
in relation to its doctoral program?
Prof. Dr. Burckhart: As HHL considers itself a university-level business
school with a high degree of internationalization, we recommend a wellstructured doctoral program so that
the young candidates do not have to
deal with too many formalities. They
should, however, have a point of contact where they can test themselves
and exchange experiences, where they
are given the tools that are important
for their future careers from a formal
point of view. One advantage: The recommended “House of Talents” at HHL
would greatly contribute to the school’s
interdisciplinarity.
What internationalization strategy
would you recommend to HHL?
Prof. Dr. Burckhart: HHL has been one
of Germany’s most international universities for years. The school should
continue to expand on this – adequate
to its size – through strategic international partnerships with other universities as well as institutions from the
economy and industry. HHL’s Executive
Management, the faculty members as
well as the alumni should continue to
increase their presence on the international stage. In doing so, they should
consider not only existing areas but also
so-called regions of growth.
CENTER FOR ADVANCED STUDIES IN MANAGEMENT (CASIM) 7
CENTER FOR ADVANCED STUDIES IN MANAGEMENT (CASiM)
CASiM Strengthens its Research
Focus on Trust, an Important
Lubricant for Social Systems
Trust is indispensable in social and
economic interactions. Understanding
the various roles it plays in firms and
markets is a key component of effective
and responsible business administration
and a challenging objective of the business and economic research at CASiM.
CASiM, the interdisciplinary research
center that bundles the expertise of HHL
and partner institutions, took up this
challenge while drawing up its research
agenda for business administration in
the 21st century. Next to fundamental research on trust, the agenda also focuses
on change management that, in the face
of more frequent crises and ever shortening innovation cycles, has become a
crucial task for the survival of a business. Applications lie in health care and
urban management, two fields characterized by great change dynamics and
a crucial role of trust in mediating their
transformation.
CASiM – INTERDISCIPLINARY
AND INTERNATIONAL
RESEARCH CENTER FOR
BUSINESS ADMINISTRATION
IN THE 21ST CENTURY
ACADEMIC DIRECTORS
_ Prof. Dr. Horst Albach
_ Prof. Dr. Heribert Meffert
_ Prof. Dr. Andreas Pinkwart
_ Prof. Dr. Ralf Reichwald
Friede Springer Scholarship holders (from the left): Stefan Anderer, Linh Nguyen, Anirban Ash
“CASiM is an excellent interdisciplinary
platform for management research in the
digital age. With its focus on trust and
change management, CASiM is a milestone
institution for collaboration among worldclass researchers around the world.”
EXECUTIVE DIRECTOR
Dr. Lukasz Swiatczak
Prof. Dr. Peter Letmathe, RWTH Aachen, Germany
CENTER SUPPORTER
Friede Springer Foundation
Since its establishment in 2012, the center has been strengthening research activities in the area of trust. Thanks to the
generous support of the Friede Springer
Foundation the CASiM research group
grew steadily and currently three scholarship holders pursue their doctoral
studies in the area of trust research.
Following the guiding principles of the
center, rigor and relevance, these junior
researchers (in the picture) examine the
roles that trust plays in various domains
ranging from strategic alliances through
RESEARCH INTERESTS
_ The role of trust in firms and with their
stakeholders
_ Management
of change in firms and
markets
_ Health
care economics and management
_ Urban
dynamics: cities and firms in
global competition
CONTACT
hhl.de/casim
investment banking to the value of organizations to society.
Specifically, the research of Linh Nguyen
aims to examine the development of
trust at two different hierarchical levels
(corporate level and operating level) and
the varying effects of these two types of
trust on alliance performance. One of the
goals of her doctoral project is to inform
firms of their roles in aligning trust and
expectations between corporate-level
managers and operating-level employees towards a partner organization for
effective implementation of a cooperative
relationship. In contrast, Anirban Ash
studies the evolution of trust in the relationship between investment bank(er)s
and their clients and explores the inherent agency problems and approaches to
minimize them. Finally, Stefan Anderer
intends to study the philosophical underpinnings and societal factors of trust
in the relationship between organizations and a pluralist society.
Trust is a complex p
henomenon whose
deep understanding re
quires a multiperspective accounting from different
academic disciplines. Inter
disciplinary
approaches and modern neuroscientific
methodologies of trust research were
the principle topics of the first international Research Colloquium, organized
by CASiM in Leipzig in July 2015. This
event provided a unique platform for
junior trust researchers to network and
explore the research frontiers and learn
new methodological approaches to advance that research. The research agenda of CASiM has been reiterated in this
context. Prof. Dr. Horst Albach advocated scientific exploration of the following
three areas at the center: restoring trust
in a firm that has lost the trust of stakeholder groups, re-establishing trust by
public action and analysis of companies
that successfully regained lost trust.
One important route to excellent interdisciplinary research with global impact
leads through academic collaboration
and joint projects. From one such collaboration initiated by CASiM, a special
selection on the role of trust in business
economics resulted and was published
in the well-respected Schmalenbach
Business Review (April 2015). In this
project, the academic directors of
CASiM together with leading experts,
Prof. Dr. Stefan Kayser (EBS University,
Wiesbaden) and Prof. Dr. Nicole
Koschate-Fischer (Friedrich-AlexanderUniversität Erlangen-Nürnberg), discussed trust as the core requirement of
effective cooperation in firms, markets,
and economies.
Our conventional wisdom postulates
the importance and fragility of trust in
our everyday life. Newspapers demonstrate its relevance and complexity in
daily articles about organizations that
lost the trust of their stakeholders and
the steps taken to regain it. Research
provides valuable insights on the roles
and mechanics of trust. A deeper understanding of this important lubricant for
social systems can prove very useful for
managerial decision making and, hence,
is relevant for the education of effective
and responsible business leaders of tomorrow. Trust should play an important
role in business education and CASiM
also aims to contribute to this objective
by transferring research findings to the
classroom.
SAVE THE DATE
CASiM Conference 2016:
“European City of the Future – Sustainable Urban
Management in Times of Permanent Change”,
July 6–7, 2016
Today, more than two thirds of
Europe’s citizens are city dwellers and
the tendency is increasing. The quality
of urban life and technical infrastructure are considered to be crucial to
attracting and retaining a skilled labor
force and business. The social and
economic concentration of resources
in cities may, however, result in negative side-effects such as pollution or
congestion. Hence, cities are both the
source of and solution to economic,
environmental and social challenges.
Cities in an aging Europe will also need
to assert themselves amid increasing digitization and global competition. Managing urban complexity to
create sustainable cities will thus be
one of the most challenging tasks for
European cities in the 21st century.
With the friendly support of Stiftung
Mercator, CASiM will organize a twoday conference in Leipzig devoted to
innovative urban and city management. A special focus will be placed
on governance, sustainability and the
reinvention of European cities and
regions. With representatives from
academia, research and practice in
attendance, the challenges of urban
and municipal management will be
presented and innovative approaches
and strategies for coping with them
will be discussed.
hhl.de/casim-conference-2016
International and
Interdisciplinary
Book Projects
Management of
Permanent
Change
(2015)
In these current
times of more
frequent crises
and ever shortening innovation
cycles, the management of change has
become a crucial task for survival. The
developments of the last decade have
posed many new challenges for the
change management of firms and organizations. The present book addresses
the emerging questions from a business
administration research perspective.
“Beyond conceptual consider
ations, the authors manage to
derive meaningful recommendations for practical action.
Multiple case studies illustrate
the essential findings and
conclusions. I can recommend
reading this current and im
portant work to both scholars
and practitioners.”
Prof. Dr. Holger Ernst
WHU – Otto Beisheim School of Management,
Germany
Boundaryless Hospital
(2016)
This book
discusses current health care
challenges and
new strategies
for innovative
solutions in this
area from an
interdisciplinary of business economics,
health care management, and medicine.
It presents the idea of a “boundaryless hospital”, a conceptual model of a
patient-centric, value-based health network that overcomes typical sectorial,
organizational, and geographical boundaries and offers greater efficiency and
better quality outcomes for patients.
CENTER FOR ENTREPRENEURIAL AND INNOVATIVE MANAGEMENT (CEIM) 9
CENTER FOR ENTREPRENEURIAL AND INNOVATIVE MANAGEMENT (CEIM)
CEIM Reinforces the
Entrepreneurial Alignment of HHL
Open Innovation Lab
The Open Innovation Lab focuses on
business model innovations for established companies. Representatives of
a firm together with students develop
new business models to ensure the future competiveness of the firm. For this
purpose, they use the method of creativity and design thinking. Later, teams of
students and representatives can be established and these teams can work further on the ideas at SpinLab - The HHL
Accelerator. Potentially, spin-offs can be
created. In the first year, CEIM successfully worked together with Postbank
and E.ON Connecting Energies as partners for the Open Innovation Lab.
SpinLab – The HHL
Accelerator
Dr. Dorian Proksch, Executive Director of CEIM
CEIM supports the creation of business
model innovations either through the
founding of new companies or the creation of spin-offs for large corporations.
Therefore, CEIM is organized in two
labs: the Co-Creation Lab and the Open
Innovation Lab.
Co-Creation Lab
The goal of the Co-Creation Lab is to
support potential founders from HHL
and the region of Leipzig to successfully transform their ideas into a comprehensive business concept and make
a valid decision about further pursuing
their endeavors as a start-up. The potential founders can, for example, partake
in multiple events and programs like
the HHL International Investors Day,
the accelerate-conference and the HHL
start-up boot camp as well as the open
business plan seminars and several other programs. To provide the best support
for founders, CEIM implements various
measures for the different phases of the
founding process.
SpinLab offers co-working space for up
to six months as well as multiple coaching and mentoring opportunities. It is
open to teams which run through the
Co-Creation Lab and Open Innovation
Lab as well as external teams. The goal
of SpinLab is that the teams legally establish their company, develop their
product further and enter the market.
Up to now, twelve teams have already
worked or are working in SpinLab.
Several of them were able to win business plan competitions and receive
external funding. SpinLab is strongly
supported by CEIM in both establishing
sustainable funding as well as supporting founders.
Further, CEIM fosters the transfer of
technologies into valid business opportunities. Therefore, CEIM works in
strong collaboration with networks and
CENTER FOR ENTREPRENEURIAL AND INNOVATIVE
MANAGEMENT (CEIM)
EXECUTIVE DIRECTOR
Dr. Dorian Proksch
BOARD
_ Prof. Dr. Andreas Pinkwart
_ Prof. Dr. Stephan Stubner
_ Jun.-Prof. Dr. Vivek Velamuri
_ Jun.-Prof. Dr. Alexander Lahmann
_ Jun.-Prof. Dr. Erik Maier
MAIN SPONSOR
Leipzig Foundation for Innovation and
Technology Transfer
PROJECT PARTNERS
_ E.ON Connecting Energies
_ Postbank AG
_ Dr. Ing. h.c. F. Porsche AG
CONTACT
hhl.de/ceim
institutions in the region like SMILE as
well as over regional institutions like the
Hasso Plattner Institute in Potsdam.
The creation of business model innovations is a part of the research focus of
CEIM. Therefore, CEIM and HHL will
host the G-Forum of the Förderkreis
Gründungs-Forschung e. V. (Society for
the Promotion of Entrepreneurship
Research) in October of 2016. It is the
largest scientific conference on entrepreneurship research in Germany and
the focus this time is the creation of
business model innovations through
spin-offs and spin-ins. Further, CEIM
will use the innovation projects with
corporations to scientifically study the
innovation process and the opportunities to integrate external stakeholders
into it.
CEIM – Center for Entrepreneurial and Innovative Management
Co-Creation Lab
Open Innovation Lab
Conception phase
SpinLab – The HHL Accelerator
For founders
+ Innovation projects
Incubation phase
Acceleration phase
Structure of CEIM
ACADEMIC GROUP
Strategic and International
Management
Prof. Dr. Timo Meynhardt, Prof. Sushil Khanna, Ph.D., Jun.-Prof. Dr. Tobias Dauth, Prof. Dr. Stephan Stubner
MEMBERS OF THE GROUP
_ Dr. Ing. h.c. F. Porsche AG Chair of Strategic Management and Family Business
_ Dr. Arend Oetker Chair of Business Psychology and Leadership
_ ICCR C
hair of Corporate Responsibility and Governance
_ Alfried Krupp von Bohlen und Halbach Junior Professorship
in International Management
_ Center for Strategy and Scenario P
lanning
RESEARCH AREAS
_ Boards and top management teams in entrepreneurial organizations
_ Corporate entrepreneurship
_ Public value and leadership
_ Public value as performance measure
_ Competency diagnostics and development
_ Internationalization and diversity of top management teams
_ German-Polish trade relationships
_ De-Internationalization of firms
_ Innovation processes in foreign subsidiaries
CONTACT
hhl.de/strategic-and-international-management
STRATEGIC AND INTERNATIONAL M
ANAGEMENT 11
DR. ING. H.C. F. PORSCHE AG CHAIR OF STRATEGIC MANAGEMENT AND FAMILY B
USINESS
Enabling Entrepreneurial
Organizations
The research focus of the Porsche
AG Chair is currently in two areas:
boards and top management teams in
entrepreneurial o
rganizations as well
as corporate entrepreneurship.
Running research projects on boards
and top management teams in
entrepreneurial organizations are:
Value Creating Boards
in New Ventures
How can boards in new ventures contribute to organizational performance?
This question is the basis for the doctoral studies of Philipp Veit. His research
responds to calls for moving beyond
team characteristics of entrepreneurs
and addresses the board of directors as
important intermediary mechanism.
The board influences new venture teams
through a variety of board roles such as
monitoring, strategy, counseling, liaison and even co-management. However,
research on the value creation of individual board roles in control or service
and their impact on new venture teams
is widely unexplored. His current paper
addresses this issue by exploring the importance of the role fit between board
and new venture management in different environments. The doctoral studies
contribute to the ongoing governance
debate on board effectiveness and board
Prof. Dr. Stephan Stubner
DR. ING. H.C. F. PORSCHE
AG CHAIR OF STRATEGIC
MANAGEMENT AND FAMILY
BUSINESS
CHAIR DONOR
Dr. Ing. h.c. F. Porsche AG
value creation in an entrepreneurial setting by discussing the relationship between founders and their boards.
CHAIR HOLDER
Prof. Dr. Stephan Stubner
Familiness in Family Firms
CORE COMPETENCIES/
RESEARCH INTERESTS
_B
oards and top management teams in
entrepreneurial organizations
_V
alue creating boards in new ventures
_F
amiliness in family firms
_E
xternal manager in family firms
_B
oards in family firms
_ Corporate entrepreneurship (accelerators)
The “familial factor” incorporated in
family firms is supposed to not only
serve as a differentiator to non-family
firms but also to other family firms.
Studying this differentiating factor and
its impact on competitive behavior and
performance is at the heart of Sabina
Dienemann’s doctoral studies. Her
first and successfully completed paper
“Familiness on a Dead-end Street? The
Evolution of the Familiness Concept
CONTACT
hhl.de/strategy
and its Suitability for Future Research
on Family Firms” examines the familiness concept – which was introduced by
Habbershon & Williams in 1999 for the
study of the unique bundle of resources
and capabilities resulting from the interaction of the family and the firm – and
its application in family firm research.
External Manager
in Family Firms
In her current research project “The
External Manager in Family Firms”,
Sabina Dienemann more closely analyzes the unique settings for governance in
family firms and their distinct impact on
firm behavior and performance.
Boards in Family Firms
A further research focus of our chair is
on the governance of family firms and, in
particular, the board of directors. Due to
the close interplay between family and
business, family firms have different requirements with regards to their board
compared to non-family firms. The researchers aim to go one step further and
try to provide a better understanding
of the evolution of the board tasks over
time. In family firms, typically, not only
the business evolves over time, but also
the ownership situation changes as the
business is handed over from one generation to the next. Based on in-depth interviews, the research team is currently
building a conceptual model on the generational evolution of the board.
Corporate Accelerator Study or
Entrepreneurial Strategies of Established
Companies
A further field of research of the chair is focused on the entrepreneurial strategies
of established companies. Corporate venturing activities are frequently applied as
companies face higher environmental dynamics requiring more entrepreneurial
strategies. Therefore, the research focuses on the exploration and further understanding of these activities that are applied for diverse strategic and financial
reasons. Currently, a special focus lies on corporate accelerator programs, which
are a common approach of German companies also to engage with entrepreneurial
start-ups. The researchers aim to set the foundation in the emerging scholarly
discussion on this phenomenon in the context of corporate entrepreneurship. Building on organizational learning theory, the potential benefits of these programs are
analyzed providing relevant insights for practitioners developing entrepreneurial
strategies for established companies as well.
What are (corporate) a
ccelerators?
Prof. Dr. Stubner: Accelerators are time-
Award Ceremony
for “Macher 25 –
Unternehmerpreis
des Ostens”
On October 20, 2015, the winners of “Macher 25 – Der Große
Wirtschaftspreis des Ostens” were
honored at a high-profile event
in Berlin. The Porsche AG Chair
provided support for this award
through the identification, evaluation and recommendation of suitable candidates that have entrepreneurially excelled and contributed
positively to their environment.
The annual award was initiated by
the VBKI-Verein Berliner Kaufleute
und Industrieller, the consulting
firms KPMG and Egon Zehnder, the
Weber Bank, as well as HHL and
media partners Berliner Zeitung
and Wirtschaft + Markt. A judging
panel including Chairman Matthias
Platzeck (former Prime Minister of
Brandenburg), Franz Fehrenbach
(Chairman of the Bosch Group) and
Prof. Dr. Andreas Pinkwart (Dean
of HHL Leipzig Graduate School of
Management) selected the finalists and winners in three categories: Start-up/Innovation: Intenta
GmbH from Chemnitz, Succession:
Dresdner Lackfabrik Novatic GmbH
and Lifetime Achievement: Heinrich
von Nathusius of the IFA Rotorion
Holding AG.
limited support programs for entrepreneurial start-ups that provide a certain
amount of funding and various kinds
of support such as mentoring, network
access, workshops and office space.
Accelerators are a very young phenomenon with the first programs being
launched in the USA in 2005. Between
then and now, the number of programs
has grown significantly making it a global phenomenon. Since the beginning of
this decade, established companies from
diverse industries have also been applying the accelerator concept and launching corporate programs as part of their
entrepreneurial strategies.
What is the motivation behind your
study of corporate accelerators?
Prof. Dr. Stubner: Research on accelera-
tors is still very limited and, especially in
the corporate context, the phenomenon
remains a black box. Furthermore, practical relevance has grown over the last
years since the first corporate accelerator programs were launched in Germany
in 2012. With the exploratory study the
researchers aim to contribute to the understanding of this recent phenomenon
HHL Alumni Entrepreneur
Network
The Porsche AG Chair together with
CEIM serves as a networking node for
HHL alumni entrepreneurs. Twice
a year, the chair organizes a full-day
workshop and networking events
in various locations in Germany.
Typically, 15 to 20 entrepreneurs join
these meetings for discussions and
experience exchange.
in Germany and create transparency
about its objectives and organizational
forms. Moreover, the team is interested
in finding out in which ways established
companies can benefit from the relationship with external start-ups and if the
current corporate accelerator trend can
endure over the next years.
How do you approach this
research project?
Prof. Dr. Stubner: The team applies a
qualitative, explorative case study approach based on interviews with the
managers of these corporate accelerator programs and with start-ups that
currently participate or recently participated in these programs. By taking
these two perspectives into account, the
researchers can derive a more concrete
and less biased view of corporate accelerator programs.
Furthermore, publicly available information is used to derive a holistic picture
of the program landscape in Germany.
What are first findings and how does
this contribute to research and practice?
Prof. Dr. Stubner: Currently, the re-
searchers have identified 13 active corporate accelerator programs in Germany
with an upward trend as several programs have been launched. They also
see diverse objectives focusing less on
financial targets but more on strategic
ones. From an organizational learning
perspective, there seems to be a strong
focus from the parent company on learning new ways of working from the entrepreneurial start-ups. This is why close
interaction with the start-ups is often
strongly desired by the parent company.
However, as many programs are still in
their infancies, it remains to be seen how
far these programs really lead to the desired outcomes.
ANAGEMENT 13
Prof. Dr. Timo Meynhardt
DR. AREND OETKER CHAIR OF BUSINESS PSYCHOLOGY AND LEADERSHIP
New Chair of Business Psychology
and Leadership Helps Organizations
Discover Their Public Value
Since October 1, 2015, Prof. Dr. Timo Meynhardt has held the new Dr. Arend Oetker
Chair of Business Psychology and Leadership. By extending the core curriculum into
the fields of Business Psychology and Leadership, HHL sharpens its general management profile. Timo Meynhardt’s research focuses on the public value approach for
companies and administrative units, providing a well-recognized framework and
solid tools for responsible and sustainable management. Among other projects, the
Chair is currently working on the Public Value Atlas (GemeinwohlAtlas), a combined
research project with the Center for Leadership and Values in Society (CLVS) at the
University of St. Gallen.
Profile
The research conducted at the Chair of
Business Psychology and Leadership
aims to answer the question of what
value organizations and institutions
create for society. The Public Value
Approach follows the logic that organizations actively co-create society and
their contribution to society (public
value) goes beyond mere task fulfillment (see on next page). Core projects
DR. AREND OETKER CHAIR
OF BUSINESS PSYCHOLOGY
AND LEADERSHIP
CHAIR DONOR
Dr. Arend Oetker
CHAIR HOLDER
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Public value
_ My Competency Profile
(diagnostic instrument)
_ HHL Coaching Program
CONTACT
hhl.de/psychology
in the course of public value management are the Public Value Scorecard©
and the Public Value Atlas (in German:
GemeinwohlAtlas). The Public Value
Atlas aims at making transparent the
public value of best known national and
international organizations, nongovernmental organizations (NGOs) and
public administrations. The results are
displayed in a ranking list published
online.
“Public value re
defines the e ntire
idea of value
creation by taking
into account moral
and political, as
well as utilitarian
and hedonistic,
aspects of value
creation.”
such as transformational leadership
style, managerial cognition or its role in
the prevention of relevant health implications such as burn-out or subjective
well-being.
Outlook
In line with the Public Value Awards
by if Industrie Forum Design e. V.
and Deutsche Gesellschaft für das
Badewesen e. V., a Public Value award
for startups will be launched in cooperation with Ernst & Young (EY). Under
the slogan “Building a better working
world” we encourage young professionals to highlight their public value contributions at an early stage of business
planning. Startups submitting their
ideas receive a public value assessment
based on the Public Value Scorecard©
by an international jury of business experts. Winners are awarded with funding and get access to an international
network of investors.
In cooperation with the Center for
Leadership and Values in Society at the
University of St. Gallen the role of leadership in public value creation will be
further investigated. This will significantly contribute sharpen the chair’s
research profile.
The German Public Value Atlas, which
was released in cooperation with the
Center for Leadership and Values in
Society (CLVS) at the University of
St. Gallen in November 2015, systematically investigates and visualizes the
public value of German and international organizations and institutions.
The study has been receiving national media attention, with coverage in
WirtschaftsWoche, FAZ and tagesschau.
The companies and organizations included in the Atlas showed a strong interest in the results as well.
In order to provide a tool that helps
organizations to understand and increase their value to society the Public
Value Scorecard© has been developed.
The Public Value Scorecard© is used
by the Bundesagentur für Arbeit, the
Dax-listed company Fresenius Medical
Care, the Weltverband Deutscher
Auslandsschulen as well as the German
soccer club FC Bayern München. Further
joint projects are currently being
planned.
The Public Value Atlas provides a foundation for further research on the relationship between public value and
organizational psychological variables
“Public Value
only occurs, if
an organization’s
activities trans
late into p
ositive
perceptions
and opinions by
individuals.”
Along with other stakeholders at HHL,
the chair is about to conceive the HHL
Competency Model, linking the HHL
mission to specific individual competencies. As of 2016, selected HHL students
will benefit from the HHL Competency
Model and join the new HHL Coaching
Program.
Last but not least: To widen and intensify academic exchange, the chair will
join the network of the Peter Drucker
Society Europe.
Public Value
Atlas
Germany
In cooperation with the Center for
Leadership and Values in Society
at University St. Gallen, the Chair
of Business Psychology and Leadership published the first Public
Value Atlas in Germany.
A representative sample of the
German population comprised
of more than 7,800 people was
asked to evaluate the public value
of different organizations and institutions across various sectors –
provided the respondents knew
the organization well enough.
Participants evaluated, using a
6-point scale, the public value
contribution of 127 organizations
and institutions, based upon four
basic psychological need dimensions:
_ Task fulfillment
(Is the organization doing a
good job with its core business?)
_ Quality of life
(Does the organization
contribute to quality of life?)
_ Cohesion
(Does the organization
contribute to cohesion?)
_ Moral (Does the organization
behave decently?)
For more detailed information on
public value watch the following
video:
bit.ly/1Ozs9GM
The Public Value Atlas shows that
the Feuerwehr (Fire Department)
makes the largest public value
contribution, followed by Technisches Hilfswerk (Technical Assistance Administration) and Weißer
Ring (White Ring – Victim’s Assistance). The best company was
Volkswagen at position 22 (prior
to the Dieselgate scandal, now at
position 100). The smallest public
value contribution is provided by
Facebook, Deutsche Bank and
Bild.
gemeinwohlatlas.de
ANAGEMENT 15
Prof. Sushil Khanna, Ph.D.
ICCR CHAIR OF CORPORATE RESPONSIBILITY AND GOVERNANCE
German-Indian Business Relations
in Focus at HHL
The close business relations between
Germany and India were the focus at
the German-Indian Round Table (GIRT)
at HHL on Monday, September 7, 2015.
About 40 people accepted the invitation
of Markus Hoffmann-von Wolffersdorff,
the GIRT organizer, and Prof. Sushil
Khanna, Ph.D., holder of the ICCR
Chair of Corporate Responsibility and
Governance at HHL.
Markus Hoffmann-von Wolffersdorff,
an attorney, said, “The German-Indian
Round Table addresses German companies that are considering becoming
active in India, or companies that are
already working in India. With regular
meetings we have established a lively
contact platform to share experiences
and for the mutual support of representatives from trade, industry as well
as small and medium-sized companies.
Challenges arising with business relations of the two countries, such as questions concerning visas, are dealt with
directly with the support of the Indian
embassy in Berlin.” Regarding the success of the GIRT, Markus Hoffmann-von
Wolffersdorff said, “The German-Indian
Round Table exists at 17 locations in
Germany and three in India, so that
several hundred of German and Indian
companies get together on a regular
basis.”
Good Corporate
Governance Relevant for
Growing Indian Economy
Prof. Sushil Khanna emphasized the
importance of the mutual exchange
between German and Indian partners
in the 2015 ICCR Lecture on Corporate
Control and Governance in India. The
scientist who has worked both on the
board of several of the biggest companies in India and as a consultant for the
Indian government, said, “The Indian
economy has been in the news for its
unique growth over the past months.
The focus is now on companies and markets. Indian companies appear as investors in Europe, Asia and North America,
both in the production industries as well
as the service sector. The Indian stock
market attracts more and more international financial investors. This fact
steers our focus on methods of good
governance. The topic of corporate governance is closely related to company
ICCR CHAIR OF CORPORATE
RESPONSIBILITY AND
GOVERNANCE
CHAIR DONOR
Indian Council for Cultural Relations
CHAIR HOLDER
_ Prof. Sushil Khanna, Ph.D.
(from March 2015 onwards)
_ Prof. Radha R. Sharma, Ph.D.
(from October 2013 until 2014),
CORE COMPETENCIES/
RESEARCH INTERESTS
Prof. Sushil Khanna, Ph.D.
_ Indian economy and industrialisation
_ Economic development
_ Industrial economics
_ Merger and acquisitions
_ Strategic management
_ Multinational corporations and
international management
Prof. Radha R. Sharma, Ph.D.
_ Emotional intelligence
_ Gender diversity
_ Humanistic management
_ Leadership
_ Stress, executive burnout and
well-being
_ Change management
_ Spirituality in management
CONTACT
hhl.de/corporate-responsibility
major and minority shareholders as well
as the effects on corporate governance
and corporate strategy.
Large Scope for Mutual
Business Relations
From the left: Asha Susan Thampi, Markus Hoffmann-von Wolffersdorff, Prof. Sushil Khanna, Ph.D.
control in India, just like in other parts
of the world. The economy in threshold
countries such as India, Korea and China
is dominated by family businesses,
business groups as well as state-owned
enterprises. Their kind of control is in a
conflict of interest with minority shareholders.” In his ICCR lecture, Prof. Sushil
Khanna, Ph.D., addressed advantages
and disadvantages of relations between
Afterwards, Asha Susan Thampi, an
Indian MBA student at HHL, described
the German-Indian business relations,
“India is amongst the leading software
service providers today and aims to expand its production capacities. German
companies with their strong engineering competence are an ideal partner in
this. As an Indian student in Germany
I had the opportunity to gain insights
in Germany’s national economy and
the professional practice here. Despite
the differences in working conditions
and culture, there is a lot of scope for
the establishment of stronger business
relations between our two countries.
We, as Indian experts who are studying here in Germany, are in an excellent
position to bridge existing gaps and
to work on partnerships that are valuable for both sides by identifying shared
opportunities.”
Regional Disparities in Industrial Growth in India
Jammu &
Kashmir
Himachal
Pradesh
Punjab
Sikkim
Uttar
Pradesh
Rajasthan
Madhya
Pradesh
Gujarat
Arunachal
Pradesh
Uttaranchal
Haryana
Assam
Bihar
Jharkhand
Chattisgarh
Meghalaya
Tripura
West
Bengal
Nagaland
Manipur
Mizoram
Orissa
Maharashtra
Andra
Pradesh
Goa
Karnataka
Pondicherry
Lakshadweep
Islands
Andaman
Islands
Tamil Nadu
Kerala
Nicobar
Islands
For the last two decades, India
has de-regulated and liberalized
its economic policies, seeking
greater integration with the global
economy, moving from state-led
investment to private sector and
market-led investment strategies.
These strategies, while delivering
higher growth rates and larger
foreign trade sector, have accentuated regional disparities. The differences in per capita income between more advanced states and
backward regions has widened.
With the withdrawal of stateled investment (which sought
to develop backward states and
regions), disparities in industrial output between states have
grown. The two western states of
Maharashtra and Gujarat account
for 26 percent of national output;
while the top 4 states (of a total of
29 states and 7 union territories)
tally almost 40 per cent. These
disparities have fueled tensions
and demands for more equitable
economic policies.
ANAGEMENT 17
Opening the Black
Box & E
ncoding the
Gender Equity Code
in C
orporate India
Professor Radha R. Sharma was ICCR
Chair Professor at HHL from 2013 to
2014 and has resumed her work at
Management Development Institute
(MDI), India as Hero MotoCorp Chair
Professor; Professor, Organisational
Behaviour & HRD; & Chair, Centre for
Positive Scholarship. She is HR Am
bassador for India at the Academy of
Management, USA and Chapter Lead,
India for Humanistic Management
Network. She has continued her research on gender diversity and coauthored the research paper ‘Ope
ning the Gender Diversity Black Box:
Causality of Perceived Gender Equity &
Locus of Control and Mediation of Work
Engagement in Employee Well-being’
which was published in Frontiers in
Psychology, an A category journal with
2.6 impact factor.
The terms gender equity and gender
equality, often used interchangeably,
differ in connotation. “Gender equity
means fairness of treatment for women
and men, according to their respective
needs. This may include equal treatment
or treatment that is different but which
is considered equivalent in terms of
rights, benefits, obligations and opportunities” (UNESCO, 2000). Gender equity
is defined by WHO (2001) as “fairness
and justice in the distribution of benefits
and responsibilities between women
and men”. However, gender equality is
defined as ‘a human right’ according to
United Nations. Thus equal pay is expected for equal work along with the
right to vote and dignified treatment but
one finds that women suffer more from
poverty, unemployment and violence in
many countries.
The Corporate Gender Gap Report (2010)
covering the world’s largest employers in
twenty countries reported that India had
a meager 23 percent of women employees as compared to the United States
(52 percent), e. g. Germany (33 percent)
and Japan (24 percent). The women employees are concentrated in entry or middle level positions and remain scarce at
the senior management or the board positions in most countries. Thus, in order
to mainstream women, it is important to
know the dimensions of inequity (Zahidi
and Herminia, 2010). Similar sentiments
have been voiced in the United Nations
Development Program (UNDP) sponsored Asia-Pacific Human Development
Report (2010) which anticipated that the
lack of women’s involvement in the labor
force costs the Asia-Pacific region billions of dollars on an annual basis.
The study by Sharma & Sharma (2015)
bridges the knowledge gap and makes
a theoretical contribution by providing a definition for gender equity in the
workplace which can be used by scholars for future research. The study can be
replicated/adapted in other countries
facing the problem of gender inequity.
Most studies on women have focused on
work–family conflict, commitment and
supervisory support and have ignored
equity issues because of the complexity
involved in defining ‘gender equity’.
The findings of the study show how the
perceived gender equity and internal
locus of control affect work engagement, an important variable in organizational psychology and human resource
management.
“Improved work engagement would not only
contribute to organizational productivity but
also enhance satisfaction with life and work
and the well-being of
employees, thus creating
a positive workplace.”
The present study contributes to the
extant literature on the employee wellbeing which is an emerging area of study
in positive Psychology. The study has
adopted three measures for employee
well-being: two for assessing positive
aspects (optimism, satisfaction with life
and work) and one for measuring negative aspect (executive burnout) thus expanding the conceptualization of the
construct of well-being. It not only provides another perspective to the concept
of employee well-being and but also provides convergent and divergent validity
of the construct of employee well-being.
Well-being is garnering the attention of
both the scholars and practitioners due
to stressful work environments, a concomitant of volatile economic environments, which are impacting employees
in general and have made women employees especially vulnerable. By identifying the determinants of employee
well-being in the workplace, the study
provides empirical data for making policy decisions to promote gender equity
in the workplace and thereby enhance
well-being of employees. Self-interest
theory (Lind & Tyler, 1988; Sears & Funk,
1991) yields that employee behavior is
governed by salient personal gains to
maximize the utility of their actions.
Organizations take initiatives for enhancing the productivity of the employees in general and often ignore initiatives
for the women employees who could be
a great resource, if treated with equity.
Thus the findings make a case for female
talent management which will enhance
organizational image and reputation.
Sharma RR and Sharma NP (2015) Opening the
gender diversity black box: causality of perceived
gender equity and locus of control and mediation
of work engagement in employee well-being. Front.
Psychol. 6:1371. doi: 10.3389/
ALFRIED KRUPP VON BOHLEN UND HALBACH JUNIOR PROFESSORSHIP
IN INTERNATIONAL MANAGEMENT
Can CEOs’ International
Experience Be “Too
Much of a Good Thing”?
Less Is More:
The Potential of Frugal
Innovation
Jun.-Prof Dr. Dauth joined the
Leipzig Fraunhofer Center for In
ternational Management and Know
ledge Economy in August 2015. In
a joint project with the Center for
Frugal Innovation at the Technical
University of Hamburg-Harburg
(TUHH), he is investigating the impact of frugal innovation:
The export strength of the German
economy rests on products with high
levels of research and development
content. These products have arisen
as a result of the specialization of industry and business into high-quality
and, in many cases, tailormade, products. However, new middle classes in
emerging economies such as China
and India are looking for affordable,
robust products that are adapted
to their local needs, rather than expensive products that are highly
complex.
The far-reaching changes that these
developments entail are challenging
companies in Germany to rethink
and redefine their established hitech, process-dependent innovation
models. This is essential if they are
to maintain and consolidate their
leading role in global research and
industrial structures in the long term.
German companies thus face a twofold challenge: to cast off the established mindset of a traditionally technologydriven industrial culture and
to find new and sustainable forms
of innovation geared to the needs
of emerging economies. The term
“frugal innovation” is describing the
implementation of great ideas using
modest resources.
Jun.-Prof. Dr. Tobias Dauth
As organizations expand across the
globe, they increasingly offer international career opportunities. Empirical
evidence predicts that the number of
top managers who take international
assignments will increase by 50 percent
over the next ten years. Scholars have
regarded international experience as an
essential element that helps executives
to effectively deal with an internationalization strategy or even as “the path to
prosperity” for large organizations that
have to compete in today’s global business arena.
we find that several moderating factors
(e. g., the firm’s degree of internationalization and the level of industry munificence) have an influence on top managers’ career progress.
What is your c urrent research
paper about?
Jun.-Prof. Dr. Dauth: In our research, we
focus on the relationship between executives’ international experience and
their speed of career advancement. We
assume that the acquisition of international experience speeds executives’ career progress up until a threshold where
the social network costs of cross-country mobility outweigh the human capital
benefits.
ALFRIED KRUPP VON B
OHLEN
UND HALBACH JUNIOR
PROFESSORSHIP IN INTERNATIONAL MANAGEMENT
What are your fi
ndings?
Jun.-Prof. Dr. Dauth: Our results show a
U-shaped relationship between the executives’ international experience and
their career advancement. Moreover,
Do you plan to c ontinue your
research in this field?
Jun.-Prof. Dr. Dauth: We will definitely
continue our research on top management teams and we are happy that our
award-winning paper will be published in
the Journal of World Business.
JUNIOR PROFESSOR
Jun.-Prof. Dr. Tobias Dauth
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Corporate governance and board
structures
_ Top management team
internationalization and diversity
_ Internationalization of small and
medium-sized firms
_ German-Polish economic relations
CONTACT
hhl.de/international-management
Current Research on International Top Management Teams
Jun.-Prof. Dr. Tobias Dauth has received
Best Paper Awards at the 2015 Academy
of Management Conference (AoM) in
Vancouver, Canada and at the European
Academy of Management (EURAM)
Conference in Warsaw, Poland. Both
conferences brought together scientists from the disciplines of Strategic
Management,
Marketing,
Human
Resources, International Management
and Innovation.
Jun.-Prof. Dr. Dauth’s winning paper
was titled “The More International the
Better? The Link Between International
Experience
Variety
and
Career
Advancement” and was coauthored
by Dr. Dimitrios Georgakakis and Prof.
Dr. Winfried Ruigrok, both from the
University of St. Gallen, Switzerland.
The study incorporated data from
170 firms headquartered in four
European countries examining the
relationship between business executives’ international experience and the
speed of career advancement.
ANAGEMENT 19
CENTER FOR STRATEGY AND SCENARIO P
LANNING
New Scenario Approach for
Developing Business Strategies
Prof. Dr. Torsten Wulf (left) and
Prof. Dr. Burkhard Schwenker (right)
Scenario-based planning is an important
method for managing organizations in
uncertain times. Given the higher degree
of volatility and the speed of disruptive
changes in the industrial environment,
corporations have to adapt to changes
more rapidly to stay competitive.
The scenario methods that exist today focus on the development of fully
fledged macro environmental scenarios
that form the basis for deriving strategies for companies. Due to the time necessary for completing these approaches
as well as the broad scope of the resulting scenarios, these methods have frequently been applied to develop strategies on the corporate level only. Using
CENTER FOR STRATEGY
AND SCENARIO PLANNING
CENTER SUPPORTER
Roland Berger
ACADEMIC DIRECTORS
_P
rof. Dr. Torsten Wulf
_ Prof. Dr. Burkhard Schwenker
CORE COMPETENCIES/
RESEARCH INTERESTS
_S
trategic decision making and
strategic planning
_S
cenario-based planning strategic
communication
_S
trategic communication
CONTACT
scenarioplanning.eu
these approaches on the business level
to steer business units has often been
too complex and costly. To overcome
this limitation in existing approaches,
the Center for Strategy and Scenario
Planning has developed a new approach,
which the researchers called “Strategy
Scenario Approach”, to develop scenario-based strategies on the business level.
This approach has recently been published in the Journal for Strategy and
Management.
The Strategy
Scenario Approach
The new approach integrates latest research on cognition and decision making to generate a multitude of different
points of view that can be integrated in
the strategy creation process. The goal
of the process is the creation of flexible,
contingency-based strategies for specific businesses to achieve or maintain
a competitive advantage. In a workshop
setting, managers start by discussing
the firm’s goals. They then apply a tool
rooted in psychological research that is
called premortem analysis. Here, participants imagine that their strategies
have completely failed to achieve the
desired goals in the future and develop
potential countermeasures. This backward looking approach has been shown
to create broader perspectives and lead
to the consideration of more creative
ideas. Based on the variety of different,
potentially successful countermeasures,
the team then creates so-called strategy
scenarios, a combination of core strategies that can be directly implemented
to achieve the firm’s goal and so-called
flexible strategies that can be flexibly applied to counteract potential negative future events. This way, the company can
flexibly react to changes in the environment and develop a sound, contingencybased strategy.
Benefits
The Strategy Scenario Approach allows
for a quick and more specific development of flexible strategies for an organization on the business level. Rather
than following a rigid six-week process,
the approach can be applied in a workshop setting, which enables a quick
and resource-efficient application. The
team hopes that this new approach will
enable even more companies to apply
the multiple benefits of scenario-based
strategy development in their organizations. Together with the approach
for scenario-based strategic planning,
which was also developed by the Center,
the researchers can now provide a comprehensive toolkit for strategy development on both the corporate and the
business level of organizations.
Stay Updated
Subscribe to the center’s
bi-monthly newsletter at:
scenarioplanning.eu/
newsletter-registration
ACADEMIC GROUP
Finance, Accounting and
Corporate Governance
Prof. Christian Strenger, Prof. Dr. Henning Zülch, Prof. Dr. Bernhard Schwetzler, Jun.-Prof. Dr. Alexander Lahmann
_ Chair of Accounting and Auditing
_C
hair of Financial Management
_S
parkassen-Finanzgruppe Junior Professorship in M&A
of Small- and Midsized Entities
_C
enter for Corporate Governance
_C
enter for Corporate Transactions
_C
enter for Financial Reporting and Consolidation
RESEARCH TOPICS
_C
orporate finance (optimal capital structure, risk of default)
_P
rivate equity (PE business model,
M&A activity under PE ownership, fund characteristics)
_C
orporate valuation (tax shield and special topics in valuation practice)
_ Financial communication and capital market reactions
_ Enforcement and reporting materiality
_ Financial integrity and earnings management
_M
ergers & acquisitions (fairness opinions, MACs, serial acquirers, synergies)
_P
erformance relevance of good governance
_G
overnance rating and scoring systems
_B
oard diversity
RESEARCH PROJECTS
_M
odeling dynamic redemption and default risk for LBO evaluation
_O
ptimal capital structure and debt maturity
_N
PV vs. IRR
CONTACT
hhl.de/finance-accounting-and-corporate-governance
FINANCE, ACCOUNTING AND C
ORPORATE GOVERNANCE 21
CHAIR OF ACCOUNTING AND AUDITING
Practical and Empirical Insights
from the Interaction between
Financial Communication and
Capital Markets
As investors’ needs in terms of financial
information’s transparency and usefulness have steadily increased over recent years, exchangelisted companies
nowadays follow different information
policies to adapt to them. While some
companies tend to disclose much, useful
information numerous companies instead prefer obscurity in their information disclosures. Given that spectrum of
information policies past research has
investigated the implications of varying
information asymmetry between companies and investors. To provide for the
most notable finding, any reduction of
the aforementioned information asymmetry benefits both the investors and
the respective company as well. For instance, individual investors tend to invest more money in companies whose
annual reports they both understand
and find useful. Moreover, those investors achieve higher returns with those
investments compared to investments
in companies whose annual reports
they do not comprehend. Vice versa,
companies who disclose useful information have lower cost of equity and more
analyst coverage among other. However,
CHAIR OF ACCOUNTING
AND AUDITING
CHAIR DONOR
Leipzig Chamber of Industry and
Commerce
CHAIR HOLDER
Prof. Dr. Henning Zülch
CORE COMPETENCIES/
RESEARCH INTEREST
_R
eporting (IFRS adoption and
enforcement, materiality of reported
information, earnings management)
_ Investor relations (consistency of
information from investor relations
and reporting)
_C
apital markets (analyst behavior,
financial covenants)
CONTACT
hhl.de/accounting
Prof. Dr. Henning Zülch (left) and research affiliate Christian Kretzmann
“The Investors’ Darling ranking is a major
challenge for the companies: You may have
worked hard on your reporting and your investor
relations but the capital markets may still have
judged you differently.”
Dr. Rainer Matthes, Metzler Asset Management
there are still many research questions
unanswered in terms of information disclosure and its implications for companies and investors. Beginning with 2014,
HHL Chair of Accounting and Auditing
have conducted the so-called Investors’
Darling ranking. The ranking is based on
the analyses of financial communication
of 160 German listed companies from
DAX, MDAX, SDAX and TecDAX. As a
valuable by-product, these analyses have
constituted a unique database comprising detailed information on companies’
financial communication. Using that
database the chair is able to investigate
the open research questions indicated
above. Ultimately, the chair’s research
shall particularly benefit practitioners in
the fields of reporting and investor relations (IR).
What Investors’ Darling
Is All About
In 2013, German monthly business magazine manager magazin approached the
Chair of Accounting and Auditing for a
ranking of the financial communication
quality of Germany’s largest listed companies: Based on the ranking manager
magazin would provide its readers with
interesting insights about the quality
of financial information German companies communicate to their investors, while the Chair of Accounting and
Auditing could use the generated data for
future research. After settling the project’s financing the ranking – meanwhile
coined Investors’ Darling – was first successfully conducted in 2014 and again in
2015. Both years’ results have been published in the October issue of manager
magazin. The feedback from manager
magazin readers as well as from ranked
companies has been generally positive.
Hence, chances are high that Investors’
Darling will become established as a recurring ranking. Besides, the ranking’s
criteria catalogues may eventually become the gold standard for effective financial communication.
Article about Investors’ Darling in the October 2015 issue of manager magazin
Investors’ Darling
Builds on RIC Model
The Extensive Work
Behind Investors’ Darling
As mentioned before, Investors’ Darling
ranks all 160 largest German listed
companies. The ranking is based on extensive analyses according to the RIC
model developed by Professor Zülch and
his research associates. RIC stands for
Reporting (R), Investor Relations (I), and
Capital Markets (C):
To provide an idea of the scope of the
analyses behind Investors’ Darling, in
2015, a team of 25 chair assistants all in
all worked 4,000 hours to scrutinize all
three RIC dimensions of all 160 companies. These efforts are necessary since
the criteria catalogues behind the RIC
model comprise more than 600 categories. Each year, the project usually starts
in January and has its high point in June
when all annual reports have eventually
become available. In August, a jury of
renowned experts coming from, among
other, Deutsche Schutzvereinigung für
Wertpapierbesitz (DSW) or Metzler
Asset Management does finally inquire
the obtained results. Eventually, the
Investors’ Darling ranking is published in
the October issue of manager magazin.
Reporting: In this dimension, the qual-
ity of corporate financial reporting is
measured by analyzing annual and semiannual reports according an extensive
list of criteria.
Investor Relations: The IR presentation
and the IR website are two complementing information sources for investors.
Both are indepth analyzed according another extensive list of criteria.
Capital Markets: Here, the analysis of
The Envisaged Research
the capital markets’ assessment is based
on a survey among fund managers and
financial analysts and on a measurement of reward-to-variability ratios.
Based on the data generated during the
above mentioned analyses the chair now
INVESTOR RELATIONS
I
on
C
i y
at c
m ten
r
fo is
In ons
C
re
d
ib
R
REPORTING
ili
ty
C
Decision Usefulness
CAPITAL MARKETS
The three dimensions of the RIC RADAR
“The RIC model is
currently the most
sophisticated approach
to measure the
effectiveness of financial communication.”
Prof. Dr. Henning Zülch
has a valuable pool of data on financial
communication quality for Germany’s
160 largest exchangelisted companies.
Moreover, the granularity of the data allows analyzing relations even in a very
detailed way. As of today, there exists
some research on the impact of financial communication quality on different
company metrics such as cost of equity
or trading volumes but none of that
previous research could make use of
such comprehensive and detailed data.
Therefore, the aim is to develop several
research articles in which, among other,
hypotheses such as “Strong financial
communication quality is positively
associated with earnings quality” or
“Financial analysts provide more accurate forecasts the higher the covered
firm’s financial information quality”
shall be investigated. With that research
the chair aims to further shed light on
the interaction between financial communication and capital markets. Hence,
depending on the findings companies
may then see even more reason to provide their (potential) investors with
information they need. Moreover, principles of good financial communication will be derived as a final practical
outcome.
Beyond Compliance – Financial integrity
as the Basis of CSR
In the 21st century, corporate duties can
no longer be simply reduced to profit
maximization or the generation of
shareholder value. In fact, corporations
are faced with myriad types of stakeholders’ expectations and, consequently,
they are expected to assume the role of
a good corporate citizen by engaging in
environmental, social, and societal activities while maintaining sound corporate
governance. At the same time, corporate
social responsibility (CSR) represents a
prominent nexus between ethics and finance which is examined within our research. We formulate a definition of CSR
and give three-fold guidelines for the
implementation and assessment. Also,
using a semi-quantitative analysis we
research the often disregarded issue of
financial integrity against the backdrop
of the perception of CSR by professional
versus non-professional appraisers.
We define CSR as the voluntary self-regulation of companies to generate social
welfare by assuming societal and environmental responsibility based on financial integrity. This concept of CSR offers a guideline for corporate alignment
as well as a basis for consistent evaluation and ranking schemes which should
minimize the risk of misplaced incentives. Financial integrity goes beyond
compliance and comprises the responsibility for conducting honest business
and the accountability of its execution
based on intrinsic motivation. The first
part of the definition refers to the business model itself, i. e. where the company generates its profit. To be specific, a
company would fail to assume financial
integrity if it engaged in the financing of
terrorism, involved child labor, corruption, tax evasion or money laundry. The
second part of the definition deals with
the execution of the business. Explicitly,
it refers to the stability and sustainability by which the business is conducted.
For example, a company would fail if
its financing strategy was inadequate,
which in turn would jeopardize the continued existence of the company.
We detect that due to cognitive biases
and heuristic practices laymen tend to
overrate firms which invest heavily in
their CSR image and also those firms
which engage in projects that are seen as
peripheral to their products or core business. Our findings reveal systematic misjudgment which leads us to propose a
new definition of CSR and offer a guideline for corporate alignment. This guideline may also form the basis for consistent evaluation and ranking schemes
which should minimize the risk of misplaced corporate incentives.
For the analyses we obtain data from two
major CSR rankings, specifically the Good
Company Ranking (GCR) conducted by
Kirchhoff Consult AG and the Global
CSR RepTrak 100 (RTR) conducted by the
Reputation Institute. The first represents
a comprehensive evaluation of CSR from
a neutral appraiser perspective and combines the evaluation of sub-dimensions
conducted by academic researchers
from German universities and business
schools. The latter ranks firms in the dimension of CSR based on consumers’ assessments. In a line-up of ranking results
we find that more than one-fourth of all
companies are overrated substantially by
laymen. In particular, glamorous companies attract more attention and provide
customers with the positive feeling of
helping by purchasing their products.
About one-third of the companies receive
less public attention and admiration
than deserved. Consequently, such firms
are less visible to the public even though
they provide important services and are
financially sound. Despite substantial
progress in the area of CSR research there
is still darkness at the nexus of business
and ethics. While in the academic discussion there is to some extent a consensus
in terms of the definition (social, environmental, and economic aspects) and measurement of CSR, such accordance is missing in the practically oriented sphere.
Laymen who drive the success or failure
of corporations might still have different
evaluation schemes on their mind.
Core CSR
Avoidance of
Corporate Social Irresponsibility
Financial Integrity
Financial integrity forms the basis for all business activities
Hot Topic:
Enforcement
of Accounting
Standards
An effective enforcement mechanism
ensures high quality financial reporting. The German enforcement system is
two-tiered and consists of the Financial
Reporting Enforcement Panel (FREP)
and the German securities regulator
(BaFin). FREP regularly conducts reviews on financial statements of listed
companies on the German regulated
market. This unique setting has also
been adapted by Austria. The book
Enforcement Guide (pictured above),
which is unique in combining both academic and practical guidance, therefore
provides insights and detailed guidance for enforcement investigations in
Germany and Austria. Nevertheless, our
analysis of legal foundations shows that
we have to distinguish between typical
(Germany) and atypical (Austria) twotiered enforcement systems.
In contrast to the situation in the
United States, empirical research on the
German two-tiered enforcement system is rather scarce yet. Therefore, the
HHL’s Chair of Accounting and Auditing
contributes to this growing research
stream by investigating the German enforcement setting. This said, we provide
an extensive literature review on recent
enforcement research and identify the
main avenues to be addressed in further
research. Consequently, several studies
at our chair investigate the postulated
sanctioning function of the enforcement
mechanism. Those studies have in common that they add a critical voice to the
existence of enforcement’s sanctioning
function within the first ten years.
Overall, the two-tiered enforcement
system seems to be effective and, thus,
contributes to the quality of financial reporting. However, the results of current
research do not provide homogeneous
results for this presumption. Hence, it
needs further research to fully understand the effect of enforcement on high
quality financial reporting.
CHAIR OF FINANCIAL MANAGEMENT
Exit Through
Exitus in Private
Equity Buyouts
Prof. Dr. Bernhard Schwetzler
Private equity is an important feature of
economic activity and has seen steady
growth over the last decades . In the first
part of 2014 alone, private equity firms
had raised USD 1 .2 trillion, of which
USD 452 billion were allocated to socalled buyout funds that aim to acquire
established companies in mature industries (Bain & Company Global Private
Equity Report 2015) . Private equity firms
collect funds from institutional investors for acquiring a selected number of
private companies . After a typical holding period of three to five years, they
seek to exit these companies with a positive return (typically around 25 percent)
and refund the committed capital plus
the achieved return to their institutional
investors .
Despite the importance of the PE industry, there are still a lot of open questions
about the mechanics of the PE business model, especially because target
companies operate in private markets
with scarcely any information available .
Thus, in PE research, proprietary databases are a valuable asset . The Chair of
Financial Management at HHL can draw
upon an exceptionally rich sample that
has been constructed over many years . It
covers more than 9,500 buyouts between
1997 and 2014 and contains detailed information not only on the target companies, but also on the PE firms and their
funds .
In their recent work, Benjamin Hammer,
Robert Loos, and Prof . Dr . Bernhard
Schwetzler utilized the chair’s rich dataset to investigate the topic of default
probabilities of PE portfolio companies .
Up until now, existing research has been
limited to the mere comparison of the
default probability of PE versus non-PE
backed firms . What has been unknown
though is the way different PE firm and
deal characteristics affect default probability . This topic has become increasingly relevant in recent years, because
the “boom” in the PE industry has led to
many new market entrants and a lot of
heterogeneity in the way PE firms operate . It has therefore become difficult for
institutional investors to judge which PE
firms jeopardize their capital .
“We can observe strong
cyclicality when looking upon
the default rates of PE-backed
firms, which are exceptionally high for deals conducted
in 2006 and 2007 – i. e. at the
peak of the pre-crisis liquidity bubble. The higher default
rates in the pre-crisis years
are all but surprising because
in boom years, the entire PE
market is active – a phenomenon often called ‘money chasing deals’. This often leads
to overpaying and increased
risk-taking by PE firms.”
CHAIR OF FINANCIAL
MANAGEMENT
CHAIR SUPPORTERS
_ The Boston Consulting Group GmbH
_ ValueTrust SE
_ Handelsblatt Fachmedien GmbH
CHAIR HOLDER
CORE COMPETENCIES/ RESEARCH INTERESTS
_ Corporate finance
_ Private equity
_ Corporate valuation
_ Corporate governance
_ Mergers & acquisitions
Default/Receivership buyouts between 1997 and 2010
CONTACT
hhl.de/finance
Amongst other issues, the study focuses
on the impact of reorganization of PE
firms around specialized industry, market or segment teams – a trend that has
become more and more evident in recent
years. The results indicate that specialization of PE firms significantly reduces
the default probability of portfolio companies, but only if they operate within the
PE firm’s target industry, market or segment. Otherwise, portfolio companies of
specialized PE firms exhibit a significantly higher default probability than those of
generalist PE firms. Interestingly, deals
outside the target industry happen more
frequently than one would expect.
The interplay between a PE firm’s specialization and the portfolio company’s
default probability raised a lot of interest in practice and academia alike. The
British Real Deals Magazine, for example, made it the cover story of this year’s
May edition and invited Prof. Schwetzler
to discuss the findings at the annual
European Mid-Market Conference in
Amsterdam. Along with renowned PE
practitioners, such as Charles Diehl,
Partner at Activa Capital; David Porter,
Prof. Dr. Bernhard Schwetzler discussing the studies’ findings
at the European Mid-market Conference in Amsterdam
Managing Partner at Apposite Capital;
Dr. Andrea Carnelli, VP at Pantheon; and
Till Burges, Principal at HarbourVest,
Prof. Schwetzler debated about the implications for PE investing. The paper
also achieved academic honors at this
year’s annual meeting of the European
Financial Management Association
where it received the “Larry Lang
Corporate Finance Best Paper Award”
worth USD 2,000. Other conferences
where the paper has been featured include the 22nd annual meeting of the
German Finance Association in Leipzig
as well as the annual meetings of the
Financial Management Association in
Orlando, FL and the Southern Finance
Association on the Captiva Islands, FL.
For further information, the paper can
be downloaded from SSRN.
Buy-and-Build Strategies in Private Equity
acquire and integrate additional ones
(so called “add-on acquisitions”). This
B&B strategy is increasingly applied in
practice as the private equity market
matures and traditional value creation
strategies (simply speaking: leverage)
are no longer sufficient to achieve high
return targets.
Deal performance (IRR in %)
+ 8.6 pp
31,6 %
Ø 26
23,1 %
Stand-alone
©2014 by The Boston Consulting Group, Inc. All rights reserved.
Within the context of its research collaboration with The Boston Consulting
Group (BCG), HHL’s Chair of Financial
Management took a closer look at
“buy-and-build” (B&B) as a value creation strategy in private equity. For a PE
fund, B&B entails buying an established
company and using it as a platform to
Buy-and-build
Note: n = 121; IRR is approximated throughout all analyses. It is derived from enterprise values and net debt
levels at entry and exit. Potential dividend payments are not considered. Source: HHL-BCG analysis
Internal rate of returns (IRR) of buyouts with (“buy and build”)
vs. buyouts w/o (“stand alone”) add-on acquisitions.
Together with BCG, Benjamin Hammer,
Heiko Hinrichs and Prof. Dr. Schwetzler
analyzed under which conditions private equity uses buy-and-build and how
its performance compares to other private equity transactions. The authors
confirm that B&B deals are an increasingly common phenomenon. They also
show that B&B deals do indeed significantly outperform stand-alone deals.
The report outlines in detail which factors determine or even amplify this outperformance on three levels:
_ Deal level: e. g. number of add-on
acquisitions and deal entry channel
_Fund level: e. g. private equity fund
size and B&B experience
_ Industry level: e. g. industry growth,
profitability and concentration
HHL and BCG look back on many years
of successful cooperation. Various
joint research reports have already
been released, e. g. regarding secondary buyouts in private equity and corporate diversification. Like in previous
years, the results of the B&B research
project will be published in a joint
BCG-HHL white paper in 2016. Next to
this cooperative research, BCG allows
HHL students to gain valuable insights
into practice through guest speakers
and seminars.
Are Debt-Related Tax Shields the “Fuel”
for Private Equity Performance?
Private Equity firms have always been
critisized of boosting returns by financing the acquisition of a portfolio company
with additional debt – a strategy often
referred to as “financial engineering”.
At least in part, the attractiveness of using debt for the acquisition of a portfolio
company relates to the tax deductibility
of interest expenses that creates an annual tax benefit from debt financing. The
present value of these tax savings is called
a “tax shield”. To limit the attractiveness
of debt financing and the value of the “tax
shield” in private equity transactions, the
German government implemented an
“interest barrier” in 2008, which states
that interest expenses exceeding 30 percent of the EBITDA (earnings before interest, taxes, depreciation and amortization) are no longer tax deductible.
Benjamin Hammer, Alexander Knauer,
Alexander Lahmann, Magnus Pflücke
and Prof. Dr. Bernhard Schwetzler
investigated the impact of this policy
intervention in a joint study published
in CORPORATE FINANCE 10/2014. They
show that the net effect of an interest
barrier on the internal rate of return
(IRR) of a PE investment is all but clear
and thus it is also questionable whether
the introduction of an interest barrier
will substantially alter the use of debt in
PE transactions.
In particular, the authors show that an
interest barrier rule affects the IRR in
three different ways: (1) it reduces cash
flows to the private equity sponsor during the holding period of the portfolio
company (negative impact on IRR); (2) it
decreases the price paid at entry (positive impact on IRR); and (3) it decreases
the price received at the exit of the private equity investor (negative impact on
IRR). Thus, the net impact of the interest barrier on IRR depends on the interplay between these three effects. The
authors show
that under specific
circumstances it might
even be possible for private
equity firms to
achieve higher
IRR than before the introduction of the
interest barrier. This paradox becomes
obvious when taking into account different financing structures before, during and after PE ownership as well as
different negotiation skills between
vendor and buyer at entry and exit.
The authors conclude that the impact of
tax shield on private equity performance
is, independent of the introduction of an
interest barrier, ambiguous, and thus it
does not generally “fuel” private equity
performance. The effectiveness of the introduced “interest barrier” is, therefore,
at least questionable.
Leverage of German Private Equity Portfolio Companies
In a joint research project with the
German Private Equity Association
(BVK – “Bundesverband Deutscher
Kapit a lbetei lig u ngsgesel lscha f ten
e. V.”), Ben
jamin Hammer, Alexander
Lahmann and Prof. Dr. Bernhard
Schwetzler examine the debt development of 56 German portfolio companies
under private equity (PE) ownership.
Prof. Dr. Schwetzler explains the relevance of this topic with public concerns
about the ability of PE targets to bear
the above-average levels of debt that are
often implemented at the PE buyout:
“Financing the buyout of a target company with a significant proportion of debt is
common for PE transactions because PE
firms can utilize the so-called ‘leverage effect’ and maximize return on the invested
capital. The portfolio company’s absolute
amount of debt is therefore immediately
increasing at the PE buyout and this concerns large parts of the general public. To
judge the portfolio firm’s ability to bear
the increased absolute amount of debt,
however, it is important to also look upon
the operating performance of the portfolio company under PE ownership.”
The study analyzes two different measures of leverage: static measures that
relate the absolute amount of debt to
the total assets on the balance sheet
(debt-to-assets ratio) and dynamic measures that relate it to operating profitability
(debt-to-EBITDA ratio). As expected, the
results show an increase of static leverage
measures under PE ownership. Dynamic
measures, in contrast, clearly improve
which shows that a higher amount of debt
is accompanied by improved profitability
under PE ownership. Prof. Dr. Schwetzler
therefore concludes that:
“[…] it is too short-sighted to judge the
impact of PE ownership just by looking
on the absolute amount of debt and static
leverage measures. Instead, it is also necessary to take into account that PE owners create operating value and help improve the portfolio firm’s ability to bear
debt. In contemporary value creation,
debt financing is clearly just one side of
the coin.”
There is a Positive Relationship Between the Absolute Amount
of Debt and Profitability under PE Ownership
SPARKASSEN-FINANZGRUPPE JUNIOR PROFESSORSHIP IN M&A OF SMALL- AND MIDSIZED ENTITIES
How Much Debt Should
a Corporation Issue?
Jun.-Prof. Dr. Alexander Lahmann
One of the most important questions in
Corporate Finance Theory deals with the
optimal choice between debt and equity.
Several approaches identify the optimal
debt and equity mix and therefore provide a qualitative statement for business
practice on how much debt a firm should
issue for value maximization. Jun.-Prof.
Default and Tax
Shield Valuation
The choice of an appropriate and sustainable capital structure is obviously
linked to the more general topic of default. Every year, we hear about this
or that firm crisis or default suddenly
being revealed. Investors are usually
taken by surprise and experience
a drastic decrease of their wealth.
Therefore, to achieve fair pricing, one
of the main and, obviously, heavily
discussed questions is how a possible
default affects the corporate value.
Usually, the effects of default are
neglected in business practice on firm
valuation. One obvious reason is the
variety of models that are available.
For one of our recently accepted
journal papers “Reconsidering the
Appropriate Discount Rate for Tax
Shield Valuation” (forthcoming in
Journal of Business Economics) we
take a slightly different perspective
and analyze which default consequences actually affect the firm value.
We show how the pricing of the
interest tax savings has to be adjusted
to consider the effect of default. In
particular, we identify the fact that the
default regime, interest or principal
prioritization in case of a default, has
an important – and so far unrecognized – drastic effect on firm valuation.
Dr. Alexander Lahmann focuses on the
optimal capital structure decision in his
research. Thereby, together with other
researchers, he has created a framework
that is able to find a firm-specific optimal debt and equity mix incorporating
features of the German tax code.
These days, a firm’s finance division
considers financial and tax conditions
to setup a value generating financial
structure. Besides the typical benefits
and downsides of debt financing, i. e.,
tax savings due to interest and costs of
financial distress, firms are faced with a
variety of tax rules limiting the benefits
of debt financing and therefore drastically increasing the decision’s complexity. Of special note, the introduction of
the German interest cap in 2008 rendered well-known approaches obsolete.
One research project at the Junior
Professorship of M&A together with the
KIT examines this question. The developed framework based on approaches
applied by U.S. firms considers the
German tax setting and is able to find
the optimal capital structure on a single
firm basis. Moreover, the model quantifies the effects of the 2008 tax reform
which is important for policymakers.
But what does this mean precisely? The
fact that most corporations in Germany
SPARKASSEN-FINANZGRUPPE
JUNIOR PROFESSORSHIP IN
MERGERS & ACQUISITIONS
OF SMALL- AND MIDSIZED
ENTITIES
CHAIR DONOR
Ostdeutscher Sparkassenverband/
Sparkasse Leipzig
JUNIOR PROFESSOR
Jun.-Prof. Dr. Alexander Lahmann
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Corporate valuation
_ Asset pricing
_ Risk of default
CONTACT
hhl.de/ma-sme
are debt financed implies that their overall firm value depends on the corporate
tax code. Introducing a rule that limits
the tax-deductibility of interest payments
lowers their tax benefits. For instance, the
2008 corporate tax cut has the effect that
firms pay less corporate taxes. But paying
less tax also implies that the tax savings
decrease. This combined effect led to a situation of overleveraging for several firms
induced by the latest tax reform.
Balancing Tax Savings Against Default
Risk – The Firm’s Optimal Debt Level
Issuing debt is for most firms an important financial decision but also a source
of significant risks. Whether debt is issued or repaid to maintain a certain target capital structure; perhaps considered
as long-term trend by financial analysts,
or to finance an investment, only rarely
is a firm able to quantify the effects on
its firm value. Jun.-Prof. Dr. Alexander
Lahmann together with Maximilian
Schreiter and Prof. Dr. Bernhard
Schwetzler developed a technique which
improves on existing frameworks by being able to integrate a wide array of firm
and regime specific quantities.
Resting on this and other approaches
Jun.-Prof. Dr. Alexander Lahmann and
his team are able to identify the firmspecific optimal capital structure for
large corporations as well as for small
and mid-sized entities. This enables
firms to actually maximize their firm
value or at least reduce the impact of the
cost of financial distress.
Potential cash flow paths and default boundaries. The figure illustrates three cash flow
paths and dynamic default boundaries. The
upper two pathsare scenarios with no default.
The lower path depicts a case where the corresponding default boundary is hit.
From the left: Prof. Dr. Marc Steffen Rapp, Prof. Dr. Michael Wolff, Kati Roleder, Prof. Christian Strenger, Johannes Beyenbach
CENTER FOR CORPORATE GOVERNANCE (CCG)
Now Is the Time that Emerging
Economies Need to Consider
Good Corporate Governance
Since its foundation in 2010, the Center
for Corporate Governance (CCG) has
established itself as a leading research
center committed to cutting edge research in the field of corporate governance. It is chaired by Prof. Dr. Marc
CENTER FOR CORPORATE
GOVERNANCE
CENTER SUPPORTERS
_D
eutsche Asset & Wealth
Management Investment GmbH
_ goetzpartners
_E
rnst & Young GmbH Wirtschafts
prüfungsgesellschaft
ACADEMIC DIRECTORS
_P
rof. Dr. Marc Steffen Rapp
_P
rof. Christian Strenger
_P
rof. Dr. Michael Wolff
CORE COMPETENCIES/
RESEARCH INTERESTS
_P
erformance relevance of good
governance
_G
overnance ratings and scoring
systems
_D
iversity-related questions
_ Development of corporate governance
in emerging markets
CONTACT
hhl.de/ccg
Steffen
Rapp
(Philipps-Universität
Marburg), Prof. Christian Strenger
and Prof. Dr. Michael Wolff (GeorgAugust-Universität Göttingen). The development of the Center for Corporate
Governance is supported by an Advisory
Board of renowned personalities from
industry and research.
The Center’s involvement in HHL’s
curriculum is intensive. Corporate
Governance courses are offered for the
MBA and M.Sc. Programs as well as the
Ph.D. Program. Through extensive exchange with companies, the transfer
of knowledge from the Center to external partners occurs through consulting
projects.
The Center’s research is based on comprehensive academic knowledge and
practice. Currently, key topics are the areas of performance relevance, diversity
and governance in emerging markets. To
encourage interaction and discussion of
the challenges of governance in emerging countries, the Center organizes conferences which attract leading scholars
and senior experts in the field of corporate governance.
Conferences for Corporate Governance
in Emerging Markets
In September 2015, two conferences
on corporate governance in emerging
markets were hosted by the Center for
Corporate Governance together with
IFC’s Corporate Governance Solutions
Group and the Emerging Markets
Corporate
Governance
Research
Network. Senior experts from academia,
business, investors and consulting practice discussed a broad range of recent
governance topics such as board quality
and effectiveness, audit and compliance
issues as well as regulatory issues and
the expectation of investors.
The aim of the practitioners’ conference – “Corporate Governance in
Emerging Markets – How to Gain the
Competition for Investors?” – was to discuss the important role good governance
plays in delivering growth and attracting
further investment. In several panels, experts debated conditions and challenges
of corporate governance in emerging
markets and how sustainable conditions
for emerging market companies and
institutions can be provided. A keynote speech by Mats Isaakson, Head of
Corporate Affairs, OECD, gave a detailed
overview of the 2015 update of the OECD
Principles of Corporate Governance
which have gained worldwide recognition as an international benchmark for
good governance. He also reflected on
the relevance and experience of these
principles for emerging economies.
In several panel discussions the following issues were addressed:
_ How can the quality and effectiveness of boards be ensured in emerging
economies?
_ What strategies can achieve better
transparency and handle conflicts of
interest?
Other sessions were devoted to topics
such as suitable measures to counter
corruption and manage political risks,
the necessity of regulation and ways to
strengthen shareholder rights.
This event was followed by the scholarly 5th International Conference on
Corporate Governance in Emerging
Markets. Renowned researchers from
13 countries worldwide presented and
discussed the latest in research on corporate governance in emerging markets
with the aim of fostering policy and
practice development.
The conference was divided into seven
sessions covering issues such as the impact of firm-level governance mechanisms on firm value or corporate social
responsibility, minority shareholder
expropriation, determinants of firms’
Code Compliance
Study 2015
“The perception of corporate
governance-related topics in emerging
economies can improve. We can no
longer solely invest from Europe and
the U. S.; we must be present on the
local markets as well. Emerging economies are not just important in terms of
local investments, they also influence
the economic dynamics in Western
countries.”
Dr. Asoka Wöhrmann
Head of Private Clients Germany,
Deutsche Bank AG
corruption decisions or the impact of
analysts on executive remuneration.
Prof. Dr. Marc Steffen Rapp, Academic
Director at the Center, presented his paper investigating determinants for the
level of research and development intensity in emerging market companies.
The conference provided a singular opportunity to foster constructive and
inspiring exchange among fellow researchers as well as practitioners.
Accepted papers were assigned to a
discussant to promote discourse and
to provide comments along the path to
publication. Overall, the research and
the discussions have confirmed that better governance practices lead to better
company performance and higher market valuations.
Prof. Christian Strenger (left) with Amra Balic (Head of Corporate Governance for EMEA at
BlackRock) and Prof. Dr. Andreas Pinkwart
In an annual study, the Center for
Corporate Governance analyzes
acceptance levels of the German
Corporate Governance Code.
Good corporate governance has
become increasingly important to secure confidence in the
company from shareholders,
employees and other stakeholders. Against this background, the
study provides a systematic and
comprehensive evaluation of the
compliance behavior of large,
listed German firms. Consequently, the Center has constructed
four distinct indices, covering the
areas of transparency, monitoring/control, incentives and
diversity.
In Focus:
Executive Compensation
and Measurements of
Performance
The 2015 study once again shows
high approval rates of the Code;
the DAX and MDAX-listed companies complied with 96.4 percent of the recommendations. At
the same time, it also identified
several critical recommendations,
norms which a specific number of
firms do not follow. Recommendations for severance payment
caps, on remuneration disclosure,
appropriateness of the compensation, and specifications for
concrete objectives regarding
the composition of the supervisory board were rejected by more
than 10 percent of the analyzed
firms. The highest rate of nonconformity is related to the recommendation on compensation
structures of the management
board. This adds to the lively debate on executive remuneration
and how boards should define
both the right levels and the right
measures of performance.
The study also identifies two
important determinants of code
compliance: firm size and ownership concentration.
bit.ly/1TAB1NC
ACADEMIC GROUP
Economics and Regulation
Prof. Dr. Arnis Vilks, Prof. Pierfrancesco La Mura, Ph.D., Prof. Dr. Andreas Beivers, Prof. Dr. Liv Jaeckel, Prof. Dr. Wilfried von Eiff
_C
hair of Economics and Information Systems
_C
hair of Microeconomics
_C
hair of Law of Economic Regulation
_C
enter for Health Care Management and Regulation
RESEARCH AREAS
_M
arket design and regulation
_F
oundations of game and decision theory
_ Information theory
_T
he notions of rationality, utility, and happiness
_T
he weltanschauung of the Western world
_D
evelopment economics
_H
ealth care services and health technology assessment
_S
upply management in hospitals
_C
linical risk and emergency management
_E
thics and economy in medicine
_R
egulatory issues concerning healthcare, medical devices and pharmaceutical industry
_G
erman, European and international environmental law
_ Interdisciplinary studies of biodiversity
CONTACT
www.hhl.de/economics-and-regulation
ECONOMICS AND REGULATION 31
CHAIR OF ECONOMICS AND INFORMATION SYSTEMS
Quantum
Networks:
A New
Opportunity
for High-Speed
Financial Trading
Prof. Pierfrancesco La Mura, Ph.D.
In 2014 and 2015, Prof . La Mura, Ph .D .,
and Prof . Adam Brandenburger, Ph .D .
deepened their scientific cooperation .
They were especially active in the field of
quantum networks .
Quantum theory, which describes the
behavior of microscopic systems, is key
to a number of recent technologies . It
allows for separated objects to keep a
weird mutual connection, so that they
can display coordinated behavior even
when they cannot possibly communicate with one another .
In recent years, quantum networks have
started to see real-life implementation
on larger and larger scales . Some of the
first commercial users of quantum networks are banks and other large corporations . For those early users, quantum
networks are useful for establishing secure communication (quantum key distribution), in a way that is protected by
the very laws of nature .
Are other uses possible? As with other
new technologies, e . g . the internet, the
business potential of quantum networks
may extend beyond their initial areas of
application .
Pierfrancesco La Mura (HHL) and Adam
Brandenburger (NYU Stern) studied the
following problem: Can the availability
of a quantum network improve the performance of a team for cases in which
communication among team members
is restricted? The motivation for studying information-constrained scenarios is that in many real-life situations,
communication among team members
may be too slow, too costly, or simply
impossible .
Think of a team of high-frequency financial traders, scattered across different
countries and exposed to different locally-available information . At the speeds
typical of high-frequency trading, communication among team members, even
at the speed of light, is simply too slow
to be useful . But can traders benefit from
having access to a quantum network?
The answer turns out to be a qualified
yes: at least in some cases, a team of
traders distributed over a vast geographic area could coordinate their trading
decisions more effectively, and produce
higher gains, if the traders had access to
a quantum network .
The work led to a scientific paper, “Team
Decision Problems with Classical and
Quantum Signals”, to be published in
Philosophical Transactions A, as well as
a US patent application .
CHAIR OF ECONOMICS AND
INFORMATION SYSTEMS
CHAIR HOLDER
Prof. Pierfrancesco La Mura, Ph.D.
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Market design and regulation
(electronic markets, energy markets,
mechanism design)
_ Foundations of game and decision
theory (representations, solutions,
algorithms)
_ Information theory (preference
estimation, quantum information,
artificial intelligence)
_ Cooperative game theory (TU games,
solidarity, and taxation, group and
network formation, applications to
statistics)
CONTACT
hhl.de/information-systems
the 2nd Workshop on “Cooperative Game
Theory in Business Practice” at HHL that
took place in June 2015, Dr . Hüttner managed to acquire additional funds from
the DFG making it possible to invite additional renowned researchers to come
to Leipzig . Following the DFG project
period, Dr . Hüttner recently joined the
ESMT European School of Management
and Technology in Berlin as a post-doctoral research associate .
Research Cooperation
With NYU Stern
Research Professor Dr. André Casajus
DFG Grant Funds Research at HHL
The recent research of Research
Professor Dr . Casajus and Dr . Hüttner
has a focus on cooperative game theory .
Broadly speaking, cooperative game
theory deals with the fair distribution
of gains made through cooperation .
Potential applications include the measurement of power within shareholders’
meetings and arbitration in distributional disputes .
Research Professor Dr . Casajus, whose
main research focus is in the areas
of microeconomics and game theory,
has received new funding from the
DFG (German Research Foundation)
to further promote his research project “Solidarity and PerformanceRelatedness in Cooperative Game
Theory” . His position is now fully funded
for the next three years . In recognition
of his success in basic research, documented by his impressive publication record as well as international recognition,
HHL recently appointed Dr . Casajus to a
research professor position .
In 2015, Dr . Frank Hüttner successfully
completed his fully DFG funded research
project at HHL, which started in 2013 . For
Prof. La Mura will continue his
long-term research cooperation
with Prof. Adam Brandenburger,
who is Associate Dean at the New
York University Stern School of
Business. Both have already been
working on quantum cognition
and on the foundations of decision and information theory, for
several years. In 2014, as part of
his upcoming sabbatical, Prof.
La Mura joined NYU Stern for a
semester as a visiting researcher,
in order to further the scientific
cooperation with Prof. Brandenburger.
2nd Workshop “Cooperative Game Theory in Business Practice”
at HHL Sets the Foundation for New Cooperation With Seoul
National University (SNU)
Cooperative game theory provides versatile and simple tools to model the generation of gains from cooperation within a society and to study the fair and
reasonable distribution of these gains .
The second workshop on “Cooperative
Game Theory in Business Practice” took
place at HHL in Leipzig on June 18 and
19, 2015 . On the one hand, the workshop
provided a platform to present and discuss new theoretical developments in
this field; on the other hand, it aimed
to bridge the gap between theory and
practice . Renowned researchers from
all over the world came to Leipzig for
an intensive exchange of their views on
this topic . Dr . Frank Hüttner said, “It is
very valuable if established scientists
also direct their focus to talks by doctoral candidates . The talk by Sylvain
Ferrierès, who is being supervised in a
cotutelle-de-thèse (cotutelle) program
by HHL and the Université de FrancheComté, made a particularly good
impression .”
In addition to the professional talks,
the participants from the Netherlands,
England, Germany, France, Canada,
Japan, Scotland, Spain and South Korea
enjoyed an extensive social program . A
visit to the Leipzig Bachfest completed
the event .
The workshop also initiated closer
cooperation with the Seoul National
University (SNU) in South Korea . The
common interest in cooperative game
theory led to the prompt invitation
of Dr . Frank Hüttner to SNU in Seoul,
one of the Asian business schools,
where he presented his international
peer-reviewed research in September
2015 . This invitation was also a recognition of his excellent research . Dr .
Hüttner said, “Spending time at SNU
and exchanging ideas on cooperative
game theory was a great experience . It
also shows how research at HHL is able
to establish cooperation with the best
universities worldwide .”
Further cooperation with East-Asian
universities are in the initial stages
and will be discussed during the third
workshop on “Cooperative Game
Theory in Practice”, which will take
place at HHL in Leipzig on June 16 and
17, 2016 . For this occasion, a doctoral
student from Waseda University in
Tokyo, Japan, will spend a research sojourn of four weeks at HHL to further
deepen cooperation .
Prof. Dr. Arnis Vilks
CHAIR OF MICROECONOMICS
Loan and Investment
in a D
eveloping E
conomy –
An Ethiopian Perspective
CHAIR OF MICROECONOMICS
CHAIR HOLDER
Prof. Dr. Arnis Vilks
CORE COMPETENCIES/
RESEARCH INTERESTS
_L
ogical and philosophical foundations
of economic theory; in particular foundations of mathematical economics
_T
he notion of rationality, utility, and
happiness
_T
he weltanschauung of the Western
world, its roots and effects in the
global economy
_D
evelopment economics
CONTACT
hhl.de/microeconomics
While the Ethiopian economy with its
population of more than 80 million is
one of the world’s poorest in terms of
per-capita income and has a history that
is both rich and troubled by war and
famine, the country has been politically
stable and largely peaceful for the past
15 years and has seen double-digit GDP
growth rates during this time. As with
developing countries in general, one of
the major challenges remains the modest amount of investment, which often
can only be financed by means of loans.
While serving as Tandem Dean at the
College of Business and Economics of
the University of Mekelle in Northern
Ethiopia, Prof. Dr. Vilks co-edited the
proceedings of a national research conference on loan and investment with
his Ethiopian colleagues Girma Tegene,
Goitom Abera and Kibrom Aregawi. The
record of the proceedings is now being
developed into a book to be published by
Cambridge Scholars Publishers. Topics
covered include the determinants and
composition of foreign direct investment in Ethiopia, lessons for Ethiopia
from selected East Asian economies,
the Ethiopian banking industry, microfinance, but also trade credit and investment in the hotel sector. Most contributions are of an empirical nature and
written by scholars from Ethiopian universities and research institutions.
CHAIR OF LAW OF ECONOMIC REGULATION
How Can We Best Safeguard
Natural Capital?
The research of Prof. Dr. Liv Jaeckel
focuses on the interdisciplinary linking of law and economics. In particular,
the recently edited conference volume
of Prof. Dr. Jaeckel on the “Diversity of
Biodiversity” combines articles reflecting upon the topic of biodiversity from
the view of different disciplines and
considers it from a global, European and
national perspective. They discuss the
question how the value of nature and its
service for society can be made more visible in order to safeguard natural capital.
In her own contribution to this volume,
Prof. Dr. Jaeckel examines, taking an approach from the perspective of game
theory, if the concept of the ‘Global
Public Good’ can serve as an appropriate mechanism to strengthen the protection of climate and biodiversity. It can be
shown that – irrespective of their similarities – the international conventions
on climate and biodiversity are governed
by entirely different concepts: whilst
climate is regarded as a public good,
the convention on bio-diversity centers on the idea of exchange inspired by
civil law. Each model comes with its own
benefits and downsides. More important
than the classification to a certain type
of commodity – be it public, common
or private – are the specific terms of the
contract. They have to be tailor-made to
fit each environmental quality and their
incentives have to be attractive for all
stakeholders involved.
CHAIR OF LAW OF
ECONOMIC REGULATION
CHAIR HOLDER
Prof. Dr. Liv Jaeckel
CORE COMPETENCIES/
RESEARCH INTERESTS
_P
ublic economic regulation on natio
nal, European and international level
_R
egulatory issues concerning
healthcare, medical devices and
pharmaceutical industry
_G
erman, European and international
environmental law
_ Interdisciplinary studies of
biodiversity from economical, legal
and natural scientific perspectives
CONTACT
hhl.de/regulation
Prof. Dr. Liv Jaeckel
From the left: Prof. Dr. Dr. Wilfried von Eiff, Prof. Dr. Liv Jaeckel, Prof. Dr. Andreas Beivers
CENTER FOR HEALTH CARE MANAGEMENT AND REGULATION
The Boundaryless Health Care System
Due to the phenomenon of the aging society, the number of patients suffering from
multi-morbidity and/or chronic diseases
has rapidly increased. Simultaneously,
the cost-intensive advances in medical
technologies leading to more precise diagnostic and innovative surgical interventions, enables the health care system
to treat patients with complex illnesses,
as well as elderly people, more effectively.
Bearing this development in mind,
it is fair to comment that successful,
patient-centered medical services based
on sustainable financial sources have
to be organized in cross-sectorial medical networks consisting of primary care
physicians, specialized clinics and rehabilitation facilities.
The Center for Health Care Management
and Regulation (CHCMR) has the aim
to identify, investigate and evaluate
innovative forms of cooperation, processes and products which help health
care service providers to cope with the
current and future challenges in the
system. Boundaryless structures enable
high quality, patient-centered medicine
with respect for financial restrictions.
Therefore, research and teaching focus
on the practical problems and challenges of the health care system. Research
projects are designed to identify innovative processes and products that help
to solve the problems arising in the field
of tension between medical, ethical and
economic interests.
How to Prevent Overcrowding Effects
in Emergency Rooms
CENTER FOR HEALTH
CARE MANAGEMENT AND
REGULATION (CHCMR)
In many German hospitals, emergency
rooms (ER) suffer from “crowding effects” caused by an increasing number of
patients with non-specific thoracic pain.
Their average length of stay (ALOS) varies between 3 and 7 hours. One reason is
the high variation in the turn-aroundtime (TAT) between collecting the blood
sample and the availability of the test
results of troponin which fluctuates between 42 and 121 minutes: a non-controlled process consuming ER resources.
It was to clarify to what extent a pointof-care testing (POCT) solution for troponin tests contributes to avoiding
crowding effects, reducing LOS of ER patients and achieving cost containment.
CENTER DONOR
COGNOS AG
A randomized single-center trial including 156 patients with suspected
acute coronary syndrome (ACS) was
conducted at a German teaching hospital. The primary outcome measure
is the TAT of troponin measures in a
POCT environment compared to a central laboratory setting (before/after
comparison).
POCT was associated with an accelerated availability of cTn test results (lab:
70 min; POCT: 14 min), a shorter time for
physician notification (92 min; 22 min), a
shorter time to clinical decision-making
(110 min; 40 min) and a reduced ALOS
by 70 min. Furthermore, a calculated
cost saving of EUR 178 per day and an
ACADEMIC DIRECTORS
_ Prof. Dr. Dr. Wilfried von Eiff
_ Prof. Dr. Andreas Beivers
_ Prof. Dr. Liv Jaeckel
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Health care research and health
technology assessment
_ Ethics and economics in health care
_ Purchasing and logistics management
_ Quality and risk management
_ Regulatory and legal affairs in health
care
CONTACT
hhl.de/chcmr
Digital Health
Shapes Future
Health Care
Parallel to the health reform
in Germany, the strong trend
towards digitalization and
the increasing use of modern
information and communication technology in health care
leads to new opportunities and
efficiency optimization in patient
care. With the draft of a new
E-Health law for more secure
digital communication and applications in health care, the government shows its willingness
to support this trend. Prof. Dr.
Andreas organized the “2. Dialog
Gesundheitswirtschaft NRW –
Fokus E-Health” (2nd Dialogue
of Health Care Economics North
Rhine-Westphalia – E-Health
Focus) and discussed this topic
intensively with experts from
insurance companies, universities, industry and consulting
companies in Cologne on the 13th
of October, 2015.
The challenge for shaping the
future of the health care system
pertains to the goal-oriented
use of Big Data, E-Health,
Telemedicine and IT Management. Currently, the CHCMR is
conducting a study entitled “IT
Management in Health Care” and
there is an ongoing dissertation
on simulating the use of ambient
assisted living (AAL) technology
in homecare.
© spotmatikphoto – Fotolia.com
avoided investment of EUR 138,000
could be verified.
POCT contributes to reducing “crowding effects”, containing process costs and
increasing patient satisfaction because
of reduced ER waiting times. Especially
ACS patients benefit from a POCT setting because of a more precise and faster
diagnosis.
Detailed results of this study will
be published in: von Eiff; Dodt;
Brachmann; Niehues; Fleischmann
(Eds.) Management der Notaufnahme.
Patientenorientierung und optimale
Ressourcennutzung als strategischer
Erfolgsfaktor. 2. rev. ed., W. Kohlhammer
Verlag, Stuttgart (to be published in
2016; ISBN: 978-3-17-023350-8).
How to Achieve a Needs-Oriented
Hospital Planning 2.0
Current hospital planning design is in
need of reform: Maintaining the sectoral structures supports the undesireable
development of under-, over- and erroneous supply with health care services
Hospital Planning 2.0 tackles the problem and takes into account future developments like the challenging impacts of
the geo-demographic change, as well as
the scarcity of material and personnel
resources, to react more reasonably and
faster.
The need for change will continue to
come to a head: The economic situation
of the hospitals has deteriorated rapidly
in recent years: 40 percent of hospitals
showed an economic loss in 2012. Many
hospitals had to live from their own
substance: Just under the half were sufficiently investment-ready, while a high
share of the fixed assets, e. g. medical devices and the technical equipment, were
amortized. Partially responsible, at least,
is the supply structure in many German
regions (excess of undersized units,
too high hospital density and too little
specialization) as a consequence of the
historical development of the hospital
landscape, as well as the continuation of
the existing hospital planning approach.
Besides the poor financial situation of
many hospitals, there is already a scarcity of qualified personnel.
It is important to modernize hospital
planning according to a prospective orientation and with focus on accessibility-oriented instead of location-based
supply planning in order to secure a
comprehensive supply of medicine for
the population. Therefore, a cross-sectoral orientation should be achieved.
Additionally, the quality criteria should
be considered in the hospital planning
approach. Patient surveys show that the
medical quality of a hospital is one of the
most important criteria when choosing
a hospital. Comfort measures or the accessibility of a hospital play a minor role.
“Needs-based hospital
planning should
consider subjective
patients’ demands.”
Prof. Dr. Andreas Beivers
On the level of objective needs it is necessary to minimize the risk of erroneous
supply.
In addition to the individual states, the
federal government and the local selfgoverning bodies must participate more
actively in a reformed hospital plan. The
federal government creates a uniform
framework with minimum standards
for a needs-oriented health care supply.
The compliance is systematically ensured and monitored. The federal states
continue establishing regional hospital
plans, taking into account the specifications of the federal government and
organizing the monitoring. At the local
level, specifications are put in concrete
terms by the insurance companies and
the medical service providers taking
into account insights from the supply
monitoring. The entire process is no hierarchical one-way system: Feedback
between the different levels is necessary
to enable prospective hospital planning.
HHL Health Care Management Dialog
The first HHL Health Care Management
Dialog “Innovative Products and
Services: How to Avoid Failures in the
Decision-making Process!” took place
on September 18, 2015 in Königswinter
(near Bonn), Germany.
The “Health Care Agenda: Germany” of
the coalition government and the hospital reform by the Federal Minister of
Health, Hermann Gröhe (CDU), are raising many pressing questions for hospital
managers, which were discussed at the
HHL Dialog. What influence do the reform activities have on the supply structure, the dynamism of competition and
the refinancing options for suppliers of
medical services? How can medical costs
be reduced effectively without endangering quality or patients’ safety? Which
specific tools are required for the efficient control of hospital management?
Among the speakers at the event
was Dr. Sebastian Krolop, lecturer
from Fresenius University of Applied
Sciences. He discussed the conclusions
of his 2015 Hospital Rating Report.
Dr. Christof Veit, Director of the newly-established Institute for Quality
Assurance and Transparency in Health
Care (IQTiG), gave a presentation entitled “Money Follows Quality. What
Hospitals and Practices Can Expect”. A
success model for how companies can
create growth while still focusing on the
well-being of the patient was introduced
by Jörg Marx, Member of the Board of
the Agaplesion non-profit corporation. Moreover, Jochen Metzner, Head
of the Hospital Supply Division of the
Hesse State Ministry of Social Affairs,
presented the Hessian approach to hospital funding as a possible role model
for other states, providing a basis for
discussion.
Prof. Dr. Dr. Wilfried von Eiff, the
Academic Director of the Center for
Health Care Management and Regulation
of HHL and Chair of the conference, concluded, “There are innovative ways of
financing hospitals to emerge from the
innovation backlog. During the HHL
Health Care Management Dialog, we
have learned, among other things, that
the health insurance companies and, by
now, even the government plans to pay
according to the quality of the work instead of merely assuming a similar level
of quality at all hospitals. A second important point relates to the plans of the
health insurance companies and, by
now, even the government to pay according to the quality of the work instead of
merely assuming a similar level of quality at all hospitals. This concept is called
Pay for Performance (P4P). We have
learned that measuring quality without
risk adjustment is counterproductive
and may even lead to a deterioration of
health care in the medium term. The
HHL Health Care Management Dialog
Transfer Management
In order to cope with the future
threats and challenges to the
health care system, learning
from other industries might be a
good opportunity for health care
service providers to survive in a
competitive environment. Transferring technologies and service
processes from other industries
means a view beyond the horizon and unexpected possibilities might emerge. The CHCMR
currently supports three degree
theses which deal with the topic
of transfer management:
_ Dissertation in cooperation
with BMW AG
_ Master thesis in cooperation
with Porsche Leipzig and
Porsche Consulting
_ Master thesis on the
technology transfer
between hospitals and the
pharmaceutical industry
took place prior to the MARA-Kongress,
a combination we would like to maintain
in the future.”
HHL Health Care Management Dialog in Königswinter, Germany
ACADEMIC GROUP
Sustainability and
Competitiveness
Prof. Dr. Andreas Suchanek, Prof. Dr. Iris Hausladen, Prof. Dr. Manfred Kirchgeorg, Prof. Dr. Wilhelm Althammer
_H
einz Nixdorf Chair of IT-based Logistics
_D
r. Werner Jackstädt Chair of Economics and Business Ethics
_S
parkassen-Finanzgruppe Chair of Macroeconomics
_S
VI-Endowed Chair of Marketing,
esp. E-Commerce and Cross-Media Management
_J
unior Professorship in Retail and Multi-Channel Management
_ Center for IT-based Logistics Leipzig (CITLOG)
RESEARCH AREAS
_ Digitalization
_ Trust
_ Sustainability
_ Competitiveness
COMPLETED RESEARCH PROJECT
Leading Edge Cluster BioEconomy
CONTACT
hhl.de/sustainability-and-competitiveness
SUSTAINABILITY AND C
OMPETITIVENESS 39
HEINZ NIXDORF CHAIR OF IT-BASED LOGISTICS
BioEconomy:
Ramp-up Logistics Concept for
Wood-based Supply Chains
In a large project spanning a cluster with
dozens of companies and research institutions, a variety of innovative products
and processes are created. The LeadingEdge Cluster BioEconomy in the region
of Central Germany has placed its focus on the development of wood-based
products. Among them, we can find material, chemical as well as bioenergetic
use of wood or wood-based materials.
However, a company must take into account which modified requirements in
the logistics processes and what changes within the supply chain management
(SCM) activities are necessary if it is aiming to produce, for example, wood poles
for use in outdoor areas.
For the past three years and four months,
Prof. Dr. Iris Hausladen and research associate Andrej Lichtenberg at the Heinz
Nixdorf Chair of IT-based Logistics have
been working on a suitable approach to
find answers to these questions. As a result, the Ramp-up Logistics Concept for
Wood-based Supply Chains was completed in October 2015.
The goal of the project was to develop an
integrated and sustainable concept for
logistics and SCM in the context of woodbased supply chains. The target group of
this concept is companies participating
HEINZ NIXDORF CHAIR
OF IT-BASED LOGISTICS
CHAIR HOLDER
Prof. Dr. Iris Hausladen
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Industry 4.0 and Logistics 4.0
_B
usiness models for logistics and
SCM in the digital age
_E
valuation of IT-based logistics
applications
_B
usiness process management (BPM)
in logistics and SCM
_S
ustainable logistics systems and
supply chain networks
_S
upply chain design and stress
management
_C
ity logistics
_ BioEconomy
CONTACT
hhl.de/logistics
Prof. Dr. Iris Hausladen
in projects to introduce innovative
wood-based products and the cluster
management who has the overview and
is best connected to all companies constituting the Leading-Edge Cluster. The
concept was designed to be particularly
suitable for the application in the initial
development phase of a cluster.
In the concept, both the logistics and
the SCM system comprise several characteristic decision areas, or systems
elements, such as Logistics Strategy,
Procurement Logistics, Supply Chain
Design, Electronic SCM (E SCM), etc. For
each of these elements, application-oriented recommendations are provided.
One typical characteristic of the
Leading-Edge Cluster BioEconomy implies considerable differences among
the companies with respect to their size,
industrial sector and previous experience with wood-based materials. Taking
these significant differences into account, a tool was created to estimate the
current maturity level (stage of development) of the respective system element.
The evaluation takes the form of a questionnaire which can be used for a selfassessment by company representatives
having the required professional expertise. In addition, the cluster management can be consulted in relation to SCM
system elements, in particular for the
assessment of aspects related to several,
or all, stages of the supply chain. The
Ramp-up Logistics Concept for Woodbased Supply Chains differentiates three
maturity levels.
After determining the current maturity
level for a system element in question,
e. g. level 2 for supply chain cooperation,
the user finds a selection of potentially
suitable methods which should be applied in order to achieve the next level
(3 in this example). In addition, a short
description of each method is provided
along with an indication of implementation time and cost (qualitative assessment), and suitability for different
company sizes. Eventually, radar charts
can be applied to depict the overall maturity level of the logistics and SCM system. The ultimate goal of the concept is
to raise the overall level of both systems
to the maximum level 3 and give substantial support in these fields to the
cluster partners in the critical stages of
development.
Network CIVINET
City Logistics
The Heinz Nixdorf Chair of ITbased Logistics joined CIVINET,
a network of C
IVITAS. CIVITAS is
a European program that allows
cities to learn from each other
and to exchange ideas and best
practices. Herein, the network
CIVINET pays special attention to urban transport. For the
purposes of mutual exchange of
experience, different stakeholders come together to target the
improvement of traffic in urban
areas. One of the most important
objectives thereby is the initiation
of relevant projects in both a theoretical and a practical regard.
Logistics in the Age of Industry 4.0 –
Digital, Sustainable and Trustworthy
The term Industry 4.0 is often found in
the press and politics currently. What
do you associate with Industry 4.0 and
its role for the future of logistics and
especially for the IT-based logistics?
Prof. Dr. Hausladen: Industry 4.0 is a
representation of concepts, solutions
and tools which effectuate a gradual
digitalization of value-added chains.
New technologies, like the Internet of
Things, will severely change production
and logistics processes. The dislocation,
decentralization and digitalization of
value creation need logistical added-value services, changed logistical business
models as well as intelligent concepts of
transport, mobility, modality and intralogistics. The processing of information
flows will become an equal, or even a
prime factor of success. Especially the
IT-based logistics plays a significant
role because it provides innovative approaches to cope with the challenge of
designing an effective and efficient digital transformation. That means it acts as
a bridge builder.
How does this trend affect the work of
the chair?
Prof.
Dr. Hausladen: Industry and
Logistics 4.0 enlarge the content field
of research activities, teaching as
well as transfer projects of the Heinz
Nixdorf Chair of IT-based Logistics
at HHL Leipzig Graduate School of
Management. Influencing factors and
trends, for example, are explored in close
cooperation with partners from industry
and other business sectors. Problembased and application-based resolution approaches are evolved and tested
in practice and are taught in courses as
well as Executive Education for the professionalization of competences.
How does digitalization take place in
logistics?
Prof. Dr. Hausladen: Digitalization has
already begun. For example, if you look
at the private parcel service, the tracking and tracing of your delivery by bar
code or RFID is already offered by a lot
of providers. It is not established everywhere but the number is growing. In
industry the bandwidth is enormous.
You can find homogeneous systems
with complete automatization of production and logistics from one provider
like a fully-automated warehouse but
also historically grown systems which
are isolated applications and very heterogeneous and difficult to connect
among themselves; up to logistics systems which are for the most part free of
any IT system. In any case the gradual
usage of IT systems will be necessary to
sustain one’s position in the worldwide
competition; whether industry or logistics; whether global player or small and
medium-sized company.
Which role does sustainability play in
the logistics?
Prof. Dr. Hausladen: Most people in
Germany keep the energy revolution in
mind if they hear the term sustainability.
With the retreat from nuclear and fossil
fuels, the energy topic is accompanied by
energy conservation and greater energy
efficiency. Logistics is also concerned
about this. For example through improved route planning or by providing
logistics platforms, empty runs can be
avoided and emissions can be reduced.
This is important because of the shortened product life cycle and the growing
variety of products leading to more and
more logistics processes that have to be
managed and balanced. So there is the
possibility of saving energy and money
and creating permanent jobs through
the implementation of well-thought-out
logistics concepts which could also be
seen as a form of sustainability.
What is the meaning of trustworthy in
the context of logistics?
Prof. Dr. Hausladen: Digitalization and
the networking of processes produce a
certain dependency on IT systems. This
requires, for example, the protection of
sensitive information from access by
unauthorized parties. Also, the reliability of the technical components is important for a smooth flow in the field of
production and logistics. So in the digital world there is, on the one hand, the
necessary trust in a reliable technology
and, on the other hand, the needed trust
in the context of supplier-customer relationships. Therefore, the best processintegrated IT systems cannot develop
their complete potential if there is not
a trustworthy collaboration among the
contractual partners as well as between
the corporate management and the
employees.
OMPETITIVENESS 41
Supply Chains Under Stress – Thinking Outside the Box
In 2014, DHL introduced the social and
business trend “De-stressing the Supply
Chain”. Therefore, the chair researched
different stress factors that influence the
supply chain. During the research phase,
it became obvious that not only negatively perceived stress factors influence
the supply chain but also positive ones.
Nevertheless, in the scientific literature,
the focus lies on negative supply chain
influences such as risks, disruptions,
glitches and related terms. Especially
supply chain risk management, as a profound and well researched area, provides
manifold management frameworks and
tools for the handling of negative supply
chain impacts which strongly affect the
performance of supply chains.
Taking the bigger picture into account,
the chair’s research efforts lead to a
broader perception of supply chain influences, namely positive, neutral and
negative ones. For providing an initial
theoretical basis, the paper titled “Supply
Chain Stress – Analysis of Influences and
Impacts” was initiated by the chair and
successfully submitted as a working paper to the European Research Seminar
(ERS) at the Copenhagen Business School
in Copenhagen, Denmark (April 23 and
24, 2015). The research efforts were presented to an international audience
within the framework of the CSCMP
(Council of Supply Chain Management
Professionals). The conference provided
vitally important insights for the further
development of the paper and the idea of
supply chain stress in general.
Introduction of the paper:
To investigate the relevance of supply
chain stress management as an emerging concept and to derive the relative
importance of priorly selected supply
chain stress factors, a web-based survey
among supply chain practitioners was
conducted in Germany and Bulgaria. By
the aid of this international analysis, two
contributions to research were made.
First, the need for a holistic management
approach to capture all positive, neutral
and negative influences on the supply
chain was determined and second, these
influencing factors were assessed with
concern to their relative importance and
their concrete influence on supply chain
management.
OPPORTUNITIES
TRENDS
THREATS
positive
neutral
negative
SUPPLY CHAIN STRESS
Concept
G
(general)
influencing factors
Supply Chain
Supply Chain
Risk Management
A1
risk factors
Supply Chain
Supply Chain
Event Management
A2
event factors
Supply Chain
Supply Chain
Stress Management
A*
stress factors
Supply Chain
Prof. Dr. Andreas Suchanek
DR. WERNER JACKSTÄDT CHAIR OF ECONOMIC AND BUSINESS ETHICS
Values, Reality and the Need for
Investments in Trust
DR. WERNER JACKSTÄDT
CHAIR OF ECONOMIC AND
BUSINESS ETHICS
CHAIR DONOR
Dr. Werner Jackstädt Foundation
CHAIR HOLDER
CORE COMPETENCIES/
RESEARCH INTERESTS
_E
conomic and business ethics
_T
heory of corporate responsibility
_M
anagement of trust and integrity
CONTACT
hhl.de/ethics
HHL’s mission focuses on “educating effective, responsible and entrepreneurial
business leaders”. The chair’s research
aims to contribute to this mission by investigating the basic tensions, conflicts
and challenges when it comes to living
up to this kind of leadership.
Nobody would disagree with the argu
ment that there are tensions between
normative values and reality in business. But it does not suffice to emphasize the importance of values in order to
bring them to life in everyday business
situations. What is needed is a combination of intention, the corresponding
competencies as well as conducive conditions, be it a legal framework or good
corporate governance structures.
These ideas are
the main issues of
the book “Unter
nehmensethik –
In
Vertrauen
investieren” by
Prof. Dr. Andreas
Suchanek published in May
2015. The goal of
the book is to present theoretical
OMPETITIVENESS 43
concepts that facilitate the analysis of
ethical conflicts as well as their practical application. Through the course of
the book the reader can learn about the
idea of developing the ability for moral
judgment as the basic requirement for
investing in trust. The book, issued by
Mohr Siebeck/utb publishing house, is
addressed to experts, executives and
corporate consultants in addition to
students and lecturers of business administration, especially those in business ethics. A visiting scholar from the
University of Kagawa, Japan, Dr. Akira
Shibata, is presently translating the
book into Japanese.
Dr. Akira Shibata and
“Keep Your P
romises”
Firms strive for profits. Is profit-orien
ted behavior compatible with ethics?
Prof. Dr. Suchanek: Profit-seeking
without ethics destroys the basis for
sustainable business. Unprofitable ethics ruin the firm. We need compatibility. This, however, does not occur naturally, but demands investment.
Which type of “ethical” investment is
needed in order to reconcile profits
and morals?
Prof. Dr. Suchanek: Investments in
trust, especially in one’s own or the
firm’s trustworthiness. You are trustworthy when people can rely on you to
respect their (legitimate) rights, interests and demands.
This means basically two things: 1) respecting the law and 2) keeping your
promises. Each firm, each leader needs
to make promises in order to convince
others – customers, employees, investors, and so on – to cooperate. These
promises will only fulfil their purpose
if the other has sufficient trust that the
promise will be kept.
This seems to be obvious.
Where is the problem?
Prof. Dr. Suchanek: The problem is
that keeping your promise comes with
costs. Delivering on time, maintaining
standards of quality, adhering to social
or ecological norms brings about higher costs which seem to lower the profits. That is why I am speaking about investments: investing means incurring
costs now. But not investing means
higher costs in the future, when one’s
trustworthiness is gone.
How is your research related
to this topic?
Prof. Dr. Suchanek: The aforementioned investments are often far from
trivial and require professional judgment. The research at our chair aims
basically to enhance this type of judgment by developing theoretical concepts as well as analyzing and discussing cases in everyday business
situations which help to elucidate why
and how to invest in trust.
Cooperation With the Wittenberg Center for Global Ethics (WCGE)
From the beginning of his engagement
at HHL, Prof. Dr. Andreas Suchanek has
also worked at the WCGE (www.wcge.
org), as member of the board since 2005.
The focus of the Center is to provide ethical guidance to present and future decision makers in business, politics and
civil society. The collaboration between
HHL and WCGE is a fundamental part of
the chair’s research, teaching and transfer activities.
With regard to research, WCGE’s doctoral program “Ethics and Responsible
Leadership in Business” has to be mentioned; three of this program’s doctoral students are presently enrolled at
HHL. The cooperation also allows HHL
to offer additional courses in their
program.
An important example for transfer activities which contribute at the same time
to the chair’s research, is the “Leitbild
für verantwortliches Handeln” (Code of
Responsible Conduct) which has been
signed by more than 50 companies and
organizations, the systematic structure
of which is based on the chair’s theory
of corporate responsibility. Further examples of the fruitful collaboration are
the support of the WCGE during HHL’s
Welcome Day for new students and the
joint realization of the 2014 HHL Forum
“Market and Morals”.
Doctoral Seminar at the Wittenberg Center for Global Ethics
Doctoral Thesis
Bringing Ethics to Life in the Modern Financial System
Christina Klein
au’s disserta
tion thesis bearing the title “Ethics in Finance”
wrestles with the question as to what
relevance ethics, a qualitative discipline
which is thousands of years old, has
for the fast-paced, starkly quantitative
world of modern finance.
It is argued that the financial crisis of
2007/08, which could not be foreseen or
managed by established financial models, should be seen a wake-up call to the
finance discipline. Namely, it should be
seen as evidence for the fact that not all
the effects which may be relevant for
the health of the financial system can
be easily quantified. As a result, it is argued that ethical principles should be
applied to analyze whether non-quantifiable, ethical risks may be created by
a given transaction. The principles of
ethics in finance developed to this end
reflect the four major disciplines of
normative ethics and are formulated as
follows:
this example, it is considered whether,
or more specifically, under which conditions, HFT is an efficient and ethically-justifiable investment strategy
and under which conditions it poses an
ethically-unjustifiable threat to the stability of the financial system.
Dr. Christina Kleinau
For the sake of practical implementation, these principles are used to generate ‘The Check-List of Ethics in Finance’.
This check-list is subsequently applied
to exemplify how ethical and financial
analysis can be systematically integrated to identify risks to the financial system and develop solutions. This discussion is developed by reference to several
practical examples, including the topic
of high frequency trading (HFT). For
CONSEQUENTIALIST PRINCIPLE 1
Do no harm.
CONTRACTUALIST PRINCIPLE 2
The societal value of just institutions is
to be respected and advocated for.
KANTIAN PRINCIPLE 3
The maxim of a decision must be
universalisable.
ARISTOTELIAN PRINCIPLE 4
Individual competencies must be developed in relation to societal excellence
and realized via virtuous conduct.
Co-Teaching or Learning in an I ntegrated Way
The chair is responsible for innovation in HHL’s teaching. In the
“Global Governance and Corporate
Responsibility” course, M.Sc. students
learn to apply specific concepts of business ethics as well as other disciplines
such as macroeconomics, marketing or
finance in an integrated way through
the support of co-lecturers from the respective field. Based on the reading of a
required text as well as a presentation
prepared by a group of students, the
class discusses topics and cases, thereby gaining insights into the challenges
of effective and responsible decisionmaking in a globalized world.
Communicative
Leadership Ethics
Leadership ethics is often conceptualized as virtue ethics: the
leader should be committed to
good and always act as a role
model. This idea is plausible, but
often too simplistic. Leaders are,
in many ways, subject to various
constraints. At the same time,
they always have some leeway
for action – if only in the way
that they react to the pressure
from markets, stakeholders or
superiors. Guido Hölker argues
that the idea of good leadership
can be captured theoretically
in the concept of communication as the creation of a shared
understanding about the values
and methods of corporate value
creation. Thereby, his dissertation
offers a way to develop practical
frameworks for effective and responsible leadership which have
a scientific basis.
SUSTAINABILITY AND COMPETITIVENESS 45
SPARKASSEN-FINANZGRUPPE CHAIR OF MACROECONOMICS
Exchange Rates
in Times
of Heightened
Tension on
Financial
Markets
Assistant Professor Dr. Oliver Hossfeld
Dr. Hossfeld, one of your research
interests is the behavior of
exchange rates during financial
crises. What is so special about
these times?
Dr. Hossfeld: The global financial crisis
and the sovereign debt crisis in the euro
area have shown – like earlier crises –
that currencies are subject to stronger
fluctuations in times of heightened tension on the financial markets than they
are in calm periods . The opposite can
be observed for low-interest currencies .
When, for example, the US investment
bank Lehman Brothers filed for bankruptcy in September 2008, within one
month the trade-weighted yen appreciated by more than 10 percent, the Swiss
franc by 3 percent and the US dollar by
5 percent, while the Australian dollar
and the Canadian dollar lost about 10
percent over the same period . Generally
speaking, low-interest currencies tend
to depreciate in periods of calm on the
financial markets, while they often appreciate abruptly in troubled times .
What are the reasons for this
distinctive reaction?
Dr. Hossfeld: One explanation is the
unwinding of currency carry trades,
i . e . speculative transactions in which
investors seek to take advantage of international interest rate differentials in
an effort to generate superior returns .
Another explanation which is often
voiced is safe haven flows – movements
of capital by investors who believe that
a particular currency area is a relatively
safe place to invest their capital in times
of crisis . The respective currencies are
accordingly often called “safe haven”
currencies, the most popular example
probably being the Swiss Franc .
In your current article you present an
approach to identify carry funding and
safe haven currencies. What was your
motivation for pursuing this line of
research?
Dr.
Hossfeld: A perusal of media
sources and the economics literature
reveals that the term “safe haven” currency has not only been attached to
the Swiss franc but to several other
currencies as well, for instance the US
dollar, the pound sterling, the yen, and
the euro . However, the “label” of “safe
haven” currency has not always been
used consistently, and different currencies are regarded as “safe haven” currencies in different settings . Moreover,
it sometimes seems that financial analysts resort to this kind of explanation
when other obvious explanations for
exchange rate movements are missing .
Finally, in most cases no distinction is
made as to whether exchange rate reactions are due to “safe haven” flows or to
the unwinding of currency carry trades .
We therefore saw the need for an approach that allows for empirically identifying safe haven currencies in a consistent way . The major challenge was
to distinguish them from carry funding
currencies and to make sure that their
movements in times of crisis are not due
SPARKASSENFINANZGRUPPE CHAIR OF
MACROECONOMICS
CHAIR DONOR
Sparkasse Leipzig
CHAIR HOLDER
Prof. Dr. Wilhelm Althammer
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Trade and the environment
_ Environmental policy and global
environmental problems
_ Environmental policy, international
trade and competitiveness
_ Regional competitiveness
_ Macroeconomics and financial
markets
CONTACT
hhl.de/macroeconomics
to the influence of “classic” exchange
rate determinants.
Could you shortly describe how
you a
ddressed this?
Dr. Hossfeld: We estimate a so-called
threshold regression model, which allows us to make an explicit distinction
between times of higher and lower tensions on the financial markets and to
check how far exchange rate reactions
in both regimes differ. We call a currency a “safe haven” currency if its returns
are negatively related to the returns of a
global reference portfolio, in our case a
global stock market index, in the “high
stress regime”. This means a “safe haven”
currency is one that appreciates when
global share prices fall, even when other
“classic” exchange rate determinants
and the impact of the above mentioned
carry trade reversals are controlled for.
According to your results, which
currencies can be considered “safe
haven” currencies?
Dr. Hossfeld: Based on our findings, only
two currencies, the Swiss franc and the
US dollar can be described as “safe haven” currencies. The appreciation of the
yen in times of crisis, meanwhile, appears to be mainly attributable to the
unwinding of carry trades. Particularly
the latter result is in contrast to the
widespread perception of the yen being
a “safe haven” currency.
Prof. Dr. Wilhelm Althammer
What do your results say about other
currencies and the euro?
Applying Real Options Analysis in
Environmental Economics
Dr. Hossfeld: We identify five curren-
In environmental economics, many
decisions made under uncertainty
may cause irreversible changes. For
example, global warming may cause
permanent changes in ocean currents or alterations of ecosystems may
cause species extinction. Irreversible
changes pose a challenge to conventional cost benefit analysis when the
economic impacts cannot be priced
with certainty at the time when the
decision is made. Therefore, already in
the 70’s, option concepts were developed (now known as the Arrow-FisherHanemann-Henry quasi-option value)
to evaluate the irreversibility effect.
Later, Dixit and Pyndick independently
developed a related concept in the finance literature. These two option value concepts co-existed for a while, and
much of the literature was about the
question of how they are related.
cies, the Australian dollar, the Canadian
dollar, the Norwegian krona, the New
Zealand dollar and the Swedish krona as
“speculative” currencies, i. e. carry trade
target currencies. The US dollar serves
as a “safe haven” and as a carry funding currency. As for the euro, the results
produced by the model do not point to
any crisis-specific reaction on a tradeweighted basis, i. e. if we weight the bilateral euro exchange rates according to
the relative importance of the euro area’s
major trading partners. This means that
the euro exchange rate behaves in a very
similar way in times of both high and of
low stress. On a bilateral basis, only the
“Swiss franc” serves a “safe haven” currency relative to the euro.
Hossfeld, Oliver and Ronald MacDonald, Carry
Funding and Safe Haven Currencies: A Threshold
Regression Approach, Journal of International
Money and Finance, Volume 59, 2015, Pages 185–202.
In our research, we show that casting
the problem into a financial framework
allows for the disentanglement of the
discussion. The option values can be
translated into meaningful terms of
financial option pricing. We find that
the Dixit-Pyndick option value can
easily be described as time-value of an
American plain-vanilla option, while
the AFHH option value is an exotic
chooser option. Although the option
values can be numerically equal, they
differ for interesting, i. e. non-trivial
investment decisions and benefit-cost
analyses. For applied work, the AFHH
concept has only limited use compared
to the Dixit-Pindyck value.
Wilhelm Althammer and Georg Siegert
Dixit-Pindyck and Arrow-Fisher-Hanemann-Henry
Option Concepts in a Finance Framework
HHL Working Paper No. 139, December 2014
SUSTAINABILITY AND COMPETITIVENESS 47
Pollution Havens: International Empirical Evidence
Using a Shadow Price Measure of Climate Policy Stringency
Some politicians fear that a strict unilateral climate policy harms a country’s
competitiveness and may not be effective in cutting greenhouse gas emissions, because it gives energy intense
industries an incentive to relocate to
other countries – so-called pollution
havens . For this reason, the Chair of
Macroeconomics developed an internationally comparable sector-specific
measure of climate policy stringency in
order to test whether support for these
pollution havens can be found .
Unlike previous research, which mainly
employs U .S . data or focuses on single
countries, this sectoral analysis simultaneously includes highly developed,
former transitional, and emerging
economies and is intended to assist
policy makers .
The paper provides evidence for a
climate policy induced pollution
haven effect regarding carbon dioxide
intensive and emission relevant energy
intensive sectors . However, the impact
of climate policy seems to be limited to
sectors with high global pollution emissions . Moreover, no support is found
that trade liberalization shifts polluting
industries from countries with a relatively stringent regulation to countries
with a relatively weak regulation .
The Chair’s research is part of the joint
project “Climate Policy and the Growth
Pattern of Nations (CliPoN)”, which was
funded by the German Federal Ministry
of Education and Research . Working
together with the Potsdam Institute
for Climate Impact Research (PIK),
the Centre for European Economic
Research (ZEW) in Mannheim, and the
University of Bielefeld, the relationship between climate policy and the
regional pattern of economic growth is
enhanced from a theoretical, empirical,
and numerical perspective .
Wilhelm Althammer and Erik Hille,
Measuring Climate Policy Stringency – A Shadow
Price Approach Using Energy Prices
HHL Working Paper No . 123,
December 2013, revised March 2015
Erik Hille, Pollution Havens:
International Empirical Evidence Using a Shadow
Price Measure of Climate Policy Stringency
HHL Working Paper No . 132,
February 2014, revised March 2015
The Economic Effects of the Gewandhaus for Leipzig
Leipzig hosts one of the most famous orchestras of the world, the Gewandhaus
Orchestra . From 2013 to 2015, starting
with a practical project, the economic
effects of the Gewandhaus on the city of
Leipzig were analyzed by a team from
the chair .
In Germany, culture is strongly supported and subsidized by different governmental levels . There may be good reasons
for this support . Culture contributes to
education, the determination of an identity, the advancement of creativity, the
safeguarding of tradition and passing
the cultural heritage on to the next generation . But culture also has economic
effects, which are often not so obvious .
Starting in the spring term of 2013, a
team of students analyzed the economic
consequences of the Gewandhaus for
the city of Leipzig during their practical
project . The students, Carolin Karmann,
Lukas Kretzinger, Manuel Neumann and
Stefan Scheuermann, used the concept
of indirect returns to describe the quantitative economic effects . They designed
the theoretical framework for the study
and started the data collection process .
To measure the economic effects, they
distinguished direct effects, indirect effects and fiscal effects . Direct effects
arise due to expenditures by tourists visiting the city and the concert hall, of the
Gewandhaus in the region and of local
visitors and sponsors . Indirect effects
try to capture the additional added value
generated in the region due to sectoral
interrelationships .
The analysis was based on detailed
data, sampled both by the student
team and by the Gewandhaus after the
end of the practical project . More than
“Our ambition was to complete a study on the
highest scientific level. The result is an important argument that supports discussions about
cultural funding. It shows that the Gewandhaus
does not just cost money but is also a significant
economic contributor.”
Prof. Dr. Andreas Schultz, Director of the Gewandhaus
1,700 questionnaires were evaluated .
The result was surprisingly high for a
concert hall which primarily serves the
local residents and which is not intended to attract large streams of tourists
like festivals do . The economic effects
of the Gewandhaus total up to EUR 39 .7
mil . Given subsidies of EUR 15 .9 mil .
during the 2011–12 season, every euro of
subsidy from the city of Leipzig created
EUR 2 .50 in additional value added and
fiscal returns in the region .
Doctoral Dissertation Projects –
Research in Progress
Environmental Policy and Countries’ Export Competitiveness in
Renewable Energy Equipment
A conventional view in economics regards regulation as a constraint on firms’
activities which necessarily increases
costs and reduces profits. Michael Porter
challenged this view by hypothesizing
that well-crafted environmental regulations can increase competitiveness by
triggering innovation. This thesis analyzes a variant of the Porter Hypothesis
by applying it to the field of renewable
energies and by using a broad database
on regulation, innovation and export
competitiveness,
Applications of Real Option Theory
In the articles of the thesis, real options
analysis is applied to the fields of agricultural economics, natural resources
economics and real estate markets. It is
shown that the application of real options theory allows individuals to gain
new insights. For example, if feed-in
tariffs are used to produce energy from
renewable resources in biogas plants,
the option to shut down the facility can
be regarded as a real option. It is shown
that the option’s share in investment value is sizable, with expected benefits and
costs of biomass-to-energy much lower
than assessed by discounted cash flow
measures.
International Trade, Foreign Direct
Investment and Climate Policy
The thesis aims to analyze the effect of
environmental regulation on international trade and foreign direct investment. Firstly, an internationally comparable measure for the stringency of
environmental regulation is developed.
This measure is then applied to analyze the effects of climate policy on international trade using a gravity model with a detailed sectoral structure.
Furthermore, environmental regulation
in Korea is used to analyze the effects of
this regulation on foreign direct investment and pollution.
Sustainable Cluster Management
Clusters policy is widely regarded as
being an important instrument of
economic policy to foster regional development, innovation and regional competitiveness. Despite this popularity, the
management of cluster organizations
has not been in the focus of research.
This thesis firstly develops an ideal model of government support for cluster organizations, based on the theory of club
goods and the private provision of public
goods. Differences in the expectations of
the stakeholders in a cluster organization are identified as being critical for
success. Based on this model, an empirical analysis is conducted to identify levers for the evaluation and benchmarking of clusters.
European Payment
Instruments –
Institutional
Determinants of
an E
fficient POS
Payment Mix by
Annett Pietrowiak
Climate Impacts of Healthy
Meat Consumption –
from Livestock Farming to
Sustainable Mobility
According to WHO recommendations,
the consumption of meat is too high in
Germany. At the same time, meat production is carbon intensive. The thesis analyzes a counterfactual question:
What would the climate impact be if
meat consumption in Germany were reduced to more healthy levels? Besides
the positive health consequences, the
land for grazing livestock and growing
feed could be converted to the production of biofuels. The thesis firstly develops an empirical partial equilibrium
model to analyze the complex interaction between agricultural markets for
meat, food and biofuel production. This
allows for modeling different policy instruments and their impact.
The Role of Cooperation to Secure
a Sustainable Resource Supply
and Long Term Competitiveness in
Germany
Rare earth metals have become increasingly important for high tech industries.
At the same time, the extraction is highly
concentrated in one country, namely
China. If China misuses its market power to support domestic industries, the
competitive position of high tech industries may become endangered. Based
on Suchanek’s concept of responsible
action as an investment in social cooperation for mutual advantage, the thesis analyses the potential for voluntary
cooperation in the fields of rare earth
metals.
This book sheds light on the
functioning and characteristics
of payment systems to serve as
a foundation for understanding
the drivers for higher payment
system efficiency. Its central goal
is to develop insights into the determinants of collective payment
choice suitable to lower payment
costs to society. So far, the institutional environment, as a potential
important influence on the payment instrument mix, has not
received focus in the literature.
Therefore, particular emphasis is
laid on the empirical analysis of
the impact of institutional factors
on the share of card payments in
consumer spending at the point
of sale (POS). For this, a unique
panel data set is constructed
covering the eight most important European payment markets
ranked by non-cash transaction
volumes. The empirical results
allow to describe conditions to
achieve a more efficient payment
mix. They also form a basis for
the assessment of related policy
measures with a focus on the
SEPA project in terms of their efficiency enhancing effect. Future
research can build upon the panel
data collected.
OMPETITIVENESS 49
Prof. Dr. Manfred Kirchgeorg
SVI-ENDOWED CHAIR OF MARKETING, ESP. E-COMMERCE AND CROSS-MEDIA MANAGEMENT
Sustainability and D
igitalization as
Value Drivers Within the Customer
Journey
NT
HO
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E
GE
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A
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CONTACT
hhl.de/marketing
OM
CORE COMPETENCIES/
RESEARCH INTERESTS
_E
-Commerce & Cross-Media
Management
_ Holistic Branding
_ Sustainability Marketing
E- C
CHAIR HOLDER
Prof. Dr. Manfred Kirchgeorg
G
CHAIR DONOR
Siegfried Vögele Institute
BILITY MAR
NA
KE
AI
TI
T
N
US
B
R
C
A
I
N
ST
D
LI
G
IN
SVI-ENDOWED CHAIR
OF MARKETING, ESP.
E-COMMERCE AND
CROSS-MEDIA MANAGEMENT
_ A knowledge of customer behavioral
theory is fundamental for marketing.
_ Research findings are always linked to
decision-oriented implications.
_ Driven by digitization, in future, customer relationships will be initiated
and cultivated across a broad spectrum of communication and distribution channels – this makes cross-media analysis supremely important.
_ Competitive pressures and the increasing number of options in changing
markets make it essential to analyze
the effectiveness and efficiency of marketing activities.
_ Discontinuities arising from systemic
changes in our world society and the
environment are confronting marke
ting with additional, fundamentally
new challenges.
S
The competitive arena in most industries is changing and in these times
customer centricity is the key to success. Five fundamental beliefs about current
developments in marketing underpin the research program:
&C
MA
R O SS- M E D IA
N
In light of these convictions, projects
are focused on three specific research
fields: Sustainability Marketing, Holistic
Branding and E-Commerce & CrossMedia Management
Kaufrelevanz
Grundwasserschonend
Wassereffizientes Produkt
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d. Abfallreduzierung
Ökologisch
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Aus 100 %
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50 % weniger
TreibhausgasEmissionen
Klimaneutral gestellt
unterØ
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abbaubar
I
100 % Ökostrom
Verursacht 320 g CO2
New Book “Sustainable
Marketing Management”
The book presents the theoretical foundations and breakthrough strategies of
Sustainable Marketing Management in
different industries .
100 % erneuerbare Energien
Zerlegbar
konstruiert
retrofit decisions . In most cases, it is not
an individual investment decision by the
homeowner . But the impact depends on
the type of network . The research identifies retrofit networks which drive the
household decision to retrofit in terms
of size and density .
II
unterØ
2,18
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Relevance and perception of environmental claims
Unlocking the Value of
“Sustainability” Within the
Customer Journey
More and more customers are seeking
“sustainability” as a product attribute .
But within their customer journey they
are often frustrated by a confusingly
large number of brand claims which
promote green attributes . Searching for
sustainable, authentic and credible products seems to be difficult for customers .
To help marketers ensure that the positioning and claims they make are understood and valued by customers, the
SVI-Endowed Chair of Marketing tested
how clear and relevant these sustainability claims are perceived by German
consumers . More than 20 environmental
claims such as “CO2-compensated” or
“50 percent less greenhouse gas emissions” were tested in a representative
online survey with 999 respondents in
cooperation with the GfK Verein and the
GS1 Germany .
The results have shown that claims
on returnable packaging such as “100
percent recycled material” are well understood by more than two-thirds of
German consumers, whereas about
two-thirds of consumers rated climaterelated claims as rather difficult to understand (see bottom left quadrant in
fig .) . Moreover, the study revealed that
the clarity of communication has a positive impact on consumers’ purchase intentions . In most cases, claims that were
perceived as easy to understand were
also rated by consumers as more persuasive for purchasing the product (see
top right quadrant in fig .) . However, consumers are not only motivated by the environmental benefits: Claims that promise individual benefits (e . g . saving water
or longer product life) were also rated as
convincing (see top left quadrant in fig .) .
Based on the research results marketers
got recommendations on how to position and communicate consumer brands
with green attributes:
1. Avoid information overload: Prioritize
and focus your communication on one
green attribute.
2. Be relevant: Green attributes which are
linked to personal benefits are more
likely to convince consumers.
3. Make clear promises: Use claims with
a clear message and give consumers a
“reason why” to believe in your promise.
Compared to FMCG purchases, customer journeys are even more complex
when consumers want to renovate their
homes to improve energy efficiency . In
order to achieve the climate and energy objectives of the German Federal
Government, the rate of energy efficiency retrofits in residential buildings
needs to be doubled . Therefore, it is of
high relevance to identify the drivers
and barriers to investments in energy
efficiency retrofits . The SVI-Endowed
Chair of Marketing conducted a research project to answer the question
of how customer purchase behavior is
influenced by a network of various parties (e . g . architects, installers) and how
the retrofit decision can be supported .
One major finding is that constellations
within the retrofit networks influence
Understanding the
Customer Journey in the
Digital World
Understanding the customer journey
is becoming an increasingly important task for marketers as the number
of digital and offline touchpoints proliferate . Different generations of customers prefer different channels and
Household
Installer
Wholesale
Architect
Industry
Bank
Energy
consultant
Model of a retrofit network
OMPETITIVENESS 51
touchpoints. Therefore, the chair conducted a generation-specific approach to
analyze customer journeys in different
contexts (buying behavior, job search
behavior, etc.). Nowadays, nobody questions the importance of cross-media
communication to get in touch with
the customer, i. e. the communication
through the whole spectrum of online
and offline media that are available. The
customer’s navigation through these different channels is referred to as the customer journey, a concept that is deeply
rooted in advertising effectiveness and
the consumer decision process literature. However, monitoring the different
touchpoints between the customer and
the company is challenging and requires
the integration of large amounts of data.
Often, these data sources can be found
in different departments or ad agencies
that are responsible for the different
channels. The SVI-Endowed Chair of
Marketing started collaborating with a
company that has successfully integrated the various online channels, such as
display ads, search and direct type-ins.
Thus, the full online journey of the company’s customers can be studied in order
to derive the characteristics of journeys
that end with a conversion on the company’s website. Such analyses can be
used to discover, among other things,
channel combinations which can be
found in successful customer journeys.
The findings have a direct impact on decisions by companies on how to allocate
online communication budgets more effectively in the future.
Digital Leadership in
Marketing – How to
Transform Strategies
and Processes
The technological achievements of the
last decades not only affect people’s daily lives in a fundamental way, but also
have profound implications for marketoriented corporate leadership. Thus, di
gitization fundamentally changed consumer behaviour and needs. As a result,
conventional industrial boundaries have
been broken down and existing business
models are being challenged.
In this regard, a research collaboration between the SVI-Endowed Chair
of Marketing and McKinsey & Company
was established in fall 2014, which has
been further intensified in 2015. The cooperative aim is the implementation of
the Digital Quotient (DQ®) in Germany.
The DQ® study, which has already been
tested in the Anglo-Saxon world, provides participating companies with a
Silicon Valley Insights –
Prof. Dr. Kirchgeorg’s Journey
Through the Valley
“I visited many startups and established companies in Silicon Valley and
participated in think tank meetings
and conferences. I was impressed by
the culture of openness and sharing.
Entrepreneurs and managers of the
big players are always willing to meet
up and talk about their experiences
in Silicon Valley. Established firms,
startups and venture capitalists are
helping to build the ‘garage entrepreneur’ culture. Quick feedback supports
the ‘fast fail & fast learning’ culture in
Silicon Valley. It is not ‘bits and bytes’
which make Silicon Valley unique. It is
the way that a diverse group of people
in the Valley interacts and respects
each other.”
unique transparency of their own digital
maturity. In addition, they are able to locate their current digital performance in
the German retail and consumer goods
industry. Indicators of the “digital maturity” are measured within the following four dimensions: strategy, culture,
skills and organization. In particular,
the digital multi-channel and cross-media performance is captured. The query
takes place via a jointly-developed questionnaire. The initial companies have
already been successfully acquired for
participation and the field phase of the
survey has started. It is planned to attract new companies and create the first
individual result reports in 2016.
Future of the
Marketing Discipline
In summer 2015, a collaborative study with MTP (Marketing
zwischen Theorie und Praxis)
based on a questionnaire was
conducted on the future of the
marketing discipline. Overall, 400
students, 139 managers and 21
CEOs participated in the survey.
The study shows that students
have a diffuse basic understanding of the marketing discipline
that has to be sharpened.
Furthermore, during the 69th leadership talk of the Scientific Society for
Marketing and Leadership e. V. on
“Strategy & Process Go Digital”, experts
from academia and practice met to discuss strategies of digital transformation. Participants agreed that the digital
transformation profoundly changes our
economy and simultaneously allows for
the release of large potentials. However,
in order to take advantage of the opportunities of the digital transformation
German companies must act now. A secret willingness to change alone will not
be sufficient.
ONLINE COMMUNICATION
Customer Journeys
Customer 1
Customer 2
Email
Paid Search
Display Ad
Customer 3
No Purchase
Type-In
Display Ad
No Purchase
Generic Search Type-In
Purchase
OFFLINE COMMUNICATION
Customer Online Journey
JUNIOR PROFESSORSHIP IN RETAIL AND MULTI-CHANNEL MANAGEMENT
Across Channels to
Digitalized Retail
Dr. Erik Maier is the new Junior Professor of Retail and Multi-Channel Management
at HHL. This position is sponsored by Deutsche Postbank AG, the beauty retailer
Douglas, fashion retailer Tom Tailor and Wiethe Group, a service provider for
e-commerce companies.
HHL Dean Prof. Dr. Andreas Pinkwart
says, “The new junior professorship
sharpens HHL’s profile in the field of
digitalization in retail, marking another
milestone for the implementation of the
innovate125 HHL Future Concept, which
is designed to lead HHL into the top 10
of graduate business schools in Europe.”
Prof. Dr. Manfred Kirchgeorg, who holds
the SVI-Endowed Chair of Marketing,
esp. E-Commerce and Cross-Media
Management at HHL, is glad to see the
competencies in this important futureoriented field reinforced at HHL, stating,
“By further extending the retail focus at
HHL to new digital solutions, our school
will raise its profile with existing retailers as well as newly founded ones.” The
new junior professorship covers the
fields of retail marketing, drivers of the
online shopping experience as well as
usage of customer data (“Big Data”).
Jun.-Prof. Dr. Maier says, “I consciously
decided for Germany’s first but also most
innovative business school. HHL’s focus
on electronic retail and new startups in
this field is particularly helpful in this
context. I would like to actively contribute to this development. For me it is important to pose questions such as ‘What
can I sell best through which channels
and how?’; ‘How do I present this to the
outside world?’ or ‘How is the consumer
influenced by the design of the shopping
experience?’ More and more services
which we are currently using offline will
be shifted to the Internet. As a junior professor, I have the opportunity to keep my
finger on the pulse of the times and to accompany this development through research, teaching and knowledge transfer.”
Prior to his appointment to HHL, Dr.
Maier, 30, worked for the consulting firm
McKinsey, predominantly for retail and
consumer goods companies. Moreover,
he also worked as an Executive Assistant
for Home24, a large online furniture
retailer. In September 2013, he was
awarded a doctorate from ESCP Europe
Business School Berlin.
The new junior professorship at HHL promotes the exchange of knowledge between
practice and academic research. The collaboration with the sponsors aims to find new
paths for retailers in the era of the second information revolution.
Jun.-Prof. Maier, how do you ensure research projects are practically relevant
for retailers?
Jun.-Prof. Dr. Maier We closely cooperate with retailers in the definition of the
research topics. For instance, we are currently investigating consumers’ perception of images in online stores – a topic
which was shaped with Home24, an online furniture retailer. This enables not
only a direct transfer of knowledge to the
business world, but also ensures the research relevance, including all necessary
academic rigor.
How does the Re-Invent Retail Think
Tank fit into your research agenda?
Jun.-Prof. Dr. Maier It is mutually beneficial. On the one hand, my research creates insights for the participants of the
Think Tank. For example, together with
the SVI-Endowed Chair of Marketing,
esp. E-Commerce and Cross-Media
Management, we are currently analyzing
retailers’ multi-channel integration in a
mystery shopping study. Such research
activities uncover specific insights for
the Think Tank participants. On the
other hand, the Think Tank members
actively shape my research agenda. For
example, we are currently discussing research topics together with the Postbank
as a Think Tank member.
Is it possible to integrate research topics
into your teaching agenda?
Jun.-Prof. Dr. Maier If we want to disseminate the latest knowledge to future
managers, research needs to be integrated – and it actually is. I utilize both my
own and others’ latest thinking on retail
topics in class, not only to stay up to date,
but also to teach methodology. In an environment where marketing approaches
innovate as fast as technology, students
need the methodological toolset to cope.
Jun.-Prof. Dr. Erik Maier
Re-Invent Retail
Think Tank
The Re-Invent Retail Think Tank is
a network of retail industry peers
at HHL Leipzig Graduate School of
Management, established to address
the challenges of a rapidly changing
retail environment. Digitalization
and eCommerce, verticalization and
internationalization are disruptively
shaping the industry and successful
retails need to remain ahead of this
change. The members of the Think
Tank (Douglas, Postbank, Tom Tailor
and Wiethe Group) meet to identify
and discuss the latest trends in the
industry, supported by the research
of the Junior Professorship for Retail
and Multi-Channel Management.
RETAIL AND MULTI-CHANNEL
MANAGEMENT
CHAIR SUPPORTERS
Douglas, Postbank, Tom Tailor, Wiethe
Group
JUNIOR PROFESSOR
Jun.-Prof. Dr. Erik Maier
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Retail channel structure and
development
_ Situational drivers of consumer
behavior
_ Point of sale marketing (offline/online)
_ Pricing
CONTACT
hhl.de/retail
INNOVATION AND ENTREPRENEURSHIP 53
ACADEMIC GROUP
Innovation and Entrepreneurship
Dr. Hagen Habicht, Jun.-Prof. Dr. Vivek Velamuri, Prof. Dr. Andreas Pinkwart, Prof. Dr. Ralf Reichwald
_ Deutsche Bank Stiftungsfonds Chair of Innovation and Entrepreneurship
_ Schumpeter Junior Professorship in Entrepreneurship and Technology Transfer
_ Center for Leading Innovation and Cooperation (CLIC)
RESEARCH AREAS
_ Venture capital and private equity financing
_ Open innovation
_ Employee involvement in innovation
_ Science-to-business collaboration
_ Trust management
_ Business model innovation
_ Entrepreneurship
_ Industry 4.0, advanced manufacturing
_ Industrial internet
_ Creativity techniques and methods
CONTACT
hhl.de/innovation-and-entrepreneurship
STIFTUNGSFONDS DEUTSCHE BANK CHAIR OF INNOVATION MANAGEMENT AND ENTREPRENEURSHIP
Shifting Boundaries
for Innovation
Employee Involvement
in Open Innovation
Innovation matters – unless organizations change the products and services
they offer the world and the ways they
create and deliver them, there is a real
risk that they will not survive.
This research explores in depth the current context of employee involvement in
the innovation process of organizations
as an exploitative open innovation strategy for harnessing internal innovations.
Whilst long-term strategic benefits
could flow from organizing sufficient
participation across the workforce, creating structures that sustain such a culture is an extremely complex process.
The introduction of new information
and communication technologies seems
to create a new momentum for encouraging high involvement, yet evokes a
multitude of new challenges and emerging issues. Reacting to these requires
a conscious adjustment of established
organizational routines and cultural
habits.
Highly-Qualified
External Employees
and Innovation
In recent years, there has been a special
interest and much controversy about the
flexibility of organizations. This body
of research sheds light on two interrelated key trends that help organizations
STIFTUNGSFONDS
DEUTSCHE BANK CHAIR OF
INNOVATION MANAGEMENT
AND ENTREPRENEURSHIP
CHAIR DONOR
Stiftungsfonds Deutsche Bank
CHAIR HOLDER
CORE COMPETENCIES/
RESEARCH INTERESTS
_ Venture capital and private equity
financing
_ Employee involvement in open
innovation
_ Reinvention of science-to-business
collaboration
_ Entrepreneurial innovation in the field
of BioEconomy and health care
_ New approaches in business didactics
in research and practice
CONTACT
hhl.de/innovation
attain flexibility, albeit from different
standpoints: open innovation and labor
market flexibility. Therefore, the aim is
to explore the nature of highly-qualified
external employees’ involvement in innovation within an open innovation
culture; a culture in which employees on
the organization’s periphery, with their
diverse knowledge bases, are also recognized as valuable sources of innovation.
Flipping the Classroom:
Promoting Education
Through a More Active
Learning Process
The flipped classroom structure changes
learning in a radical way, where students
prepare for upcoming lessons outside of
class and then are intensively engaged
in learning challenges inside the class.
This preparation includes pre-readings,
short videos, case studies and other approaches. The bottom line is to enhance
the traditional lecture with much more
interactive, theory and practice-based
discussions.
The core principle is to deliver much
of the material prior to the class in the
form of online resources. Class time is
more productively used in workshop
format, with extensive discussion and
interaction.
The lecturer role
moves from being
just a ‘broadcaster’
to being more the researcher in the sense
of Humboldt, who
is able to address
particular student
questions.
For students, this mode of learning provides flexibility and actively integrates
experience with concepts.
In this field, experimental research is
conducted based on previous experience
in running management courses using
the flipped classroom principles whether using live or case-based projects. This
research aims to provide a useful review,
together with exploring the enablers as
well as the disablers to making flipped
learning an enriching, research-based
learning and teaching experience.
Science-Business
Collaboration and
Managing Trust
The exchange between academia and industry and its impact on innovation processes has been a longstanding target of
investigation in different scholarly communities in management studies. Two
main challenges of science-to-business
collaboration are the marketing of scientific results and competences as well as
the development of trust-based knowledge transfer mechanisms. Nowadays,
open innovation has been reshaping
the university-industry collaboration
rules and prerequisites. Arguably, businesses and research institutes who are
won over by and adopt open innovation
models are better at facing the above
mentioned challenges than their counterparts who adopt closed innovation
models. This research focuses on developing applicable models around trust
intermediaries that enhance collaborative open innovation practices between
market-oriented universities and satisfied business partners.
In that regard, the research intends
to scrutinize new kinds of technology
transfer and fit them into common understanding of open innovation models. The key questions are tightly bound
to the forms and contents as well as to
the benefits of these innovative instruments. Thereby, this work provides an
important contribution to the scientific
discourse in fields of technology transfer
by means of open Innovation, and thus
focuses on the recent practice of open
innovation models (third wave, after inclusion of customers and employees into
the innovation process).
The scientific work in this area is mainly
focused on the overall architecture of
the innovation process and thus pursues a system theoretical research approach. The sizes and boundaries, relations and functional principles within
but also the complexity, openness, dynamism, constancy, stability and the
potential confounders of the system
thereby are the central research topics.
It is assumed that knowledge transfer
basically is a two-way process, equally
beneficial to both parties involved. The
research focuses on the entrepreneurial
perspective, i. e. the parameters, conditions and structures for successful collaborations from participants’ perspective. The entrepreneur is considered as
both an individual and also as part of an
Special Interest:
Bioeconomy and
Health Care
With focusing on entrepreneurial
innovation, the Stiftungsfonds
Deutsche Bank Chair of Innovation Management and Entrepreneurship aims to adapt its
research results to innovationdriven industry sectors such as
Bioeconomy and Health Care.
The chair succeeded in receiving
funding for GISBERT, a project
aimed at connecting scientists,
researchers, potential founders
and investors in the Bioeconomy
sector. Within GISBERT, the chair
together with its partners will
devise a pilot concept for developing and strengthening the entrepreneurial environment in the
cluster region Central Germany.
The project aims at centralizing
existing offers and helping founders connect with the people and
resources they need.
The health care sector has seen
considerable change in the last
decade and will continue to
evolve due to global trends such
as demographic change, mass
customization and digitalization
that provide significant opportunities for innovation. At the chair,
the team will continue to examine
the current status of innovation
in the health care sector and how
innovation management in health
care can be facilitated. The aim
is to assess the possibilities and
challenges of process innovation, rethinking the health care
delivery process across service
providers and the influence of
digitalization on the medical
technology sector. Further, a
detailed look will be taken at the
influence of cluster environments
on innovation output in the medtech sector.
bioeconomy.de
organization. Specifically, the consummated learning processes in the context
of optimizing innovation are important
differentiators from previous research
in this area.
New Approaches of Venture Funding
Since startup investments are high risk
investments, receiving sufficient and
timely financing impacts substantially
the success or failure of new ventures.
There are various equity and debt financing forms for young, entrepreneurial firms. Equity financing can arise
from personal savings, capital from
friends and family, venture capital investors, angel investors or government
grants. Debt ﬁnancing involves borrowing funds from creditors with the duty to
repay the borrowed funds plus interest
at a speciﬁed future time. Possible creditors can be friends and relatives, banks
and other commercial lenders or the
government.
may have overlooked the influences of
other aspects. This research gap was also
previously pointed out by many studies.
For this reason, the focus is on the six areas internationalization, personal characteristics, management support, risk
management, networks and technology;
both from the side of the entrepreneurs
and the venture capital firms.
To test the research propositions empirically, a comprehensive and unique data
set was collected. It was possible to collect the data directly from the original
deal documents (e. g. business plans, investor decision files of the founders) of
venture capital companies and therefore
attained a very high reliability.
A Joint Research Project
Overcoming the L
imitations
of Many S
tudies
In a joint research project run together
with TU Dresden, the chair aims to find
out more about the venture capital financing of German high-tech startups.
The researchers therefore look at different perspectives. On the one hand, the
team studies how venture capital firms
are managed and which improvements
can be made. On the other hand, they
also look on the side of the entrepreneurs and try to derive success factors
for the establishment of young firms.
Thereby, taking a holistic view to the different aspects of venture capital financing, their interdependencies can be studied in detail. An earlier study was solely
focused on a certain area and therefore
The data was gathered from 128 hightech startups financed by nine venture
capital firms. Therefore, the researchers overcame the further limitations
of many studies which rely only on
the same publicly available data of
VentureXpert which primarily focuses
on the US market. This project created
one of the few venture capital datasets in
the European Union.
First results from the study led to national and international publications
(e. g. Thunderbird International Business
Review; Credit and Capital) as well as various conference presentations (e. g. at the
G-Forum, the ICSB and IECER). Further,
the results are being discussed with people from practice and presented to the
investment-managers of venture funds.
In the upcoming year, further analysis of
the risk management process of venture
capital companies will be made. A more
detailed understanding of the process
might lead to a better understanding of
the possible risks and improvements for
the monitoring as well as the establishment of countermeasures. In addition,
the research will further study the value-adding role of venture capital funds.
Often, they not only supply the company
with financial funds but also can bringin non-monetary value, e. g. in the form
of business contacts or consulting.
The project received external funding from the Savings Banks Finance
Group (Wissenschafts-förderung der
Sparkassen-Finanzgruppe e. V.) and the
NRW.Bank. The chair is grateful for their
support.
A contemporary form of financing is
crowdfunding, the allocation of small
amounts of capital from a large number
of individuals (crowd) to finance a new
business venture. Crowdfunding is diverse in its capital nature as it can be a
form of reward, i. e. reward crowdfunding, donation, i. e. donation crowdfunding, debt, i. e. crowdlending, or equity, i. e.
crowdinvesting. The chair has studied
this new development from its beginning and contributes to the literature.
Current research is being done in the
field of crowdfunding as a financial enabler for emerging markets.
Collaboration With the Hasso Plattner Institute (HPI)
In 2014, the chair initiated a deeper
collaboration with the Hasso Plattner
Institute (HPI) in Potsdam, Germany.
The common goal is to bring students
and researchers from computer science and business together to create
interdisciplinary projects. This can
lead to common research projects or
the creation of new interdisciplinary
ventures. In the past, HHL previously
supported different entrepreneurial
teams of HPI through student consulting projects. In addition, the chair and
HPI organized a startup boot camp
together. The winning team received
funding from Hasso Plattner ventures
and is executing an idea from computer science. In the future, HPI and HHL
plan to strengthen their collaboration
efforts, in both research and practice.
Jun.-Prof. Dr. Vivek K. Velamuri
SCHUMPETER JUNIOR PROFESSORSHIP IN ENTREPRENEURSHIP AND TECHNOLOGY TRANSFER
Strategies for Decision Makers
to Cope With Uncertainty During
Business Model Innovation
Jun.-Prof. Dr. Velamuri, it seems that
business model is used as a buzz word
and can obviously mean many things.
What do you understand by the phrase?
Jun.-Prof. Dr. Velamuri: You are right:
The term business model seems ubiquitous. Since the “New Economy” era, the
SCHUMPETER JUNIOR
PROFESSORSHIP IN
ENTREPRENEURSHIP AND
TECHNOLOGY TRANSFER
CHAIR DONOR
Leipzig Foundation for Innovation and
Technology Transfer
JUNIOR PROFESSOR
Jun.-Prof. Dr. Vivek K. Velamuri
CORE COMPETENCIES/
RESEARCH INTERESTS
_B
usiness models
_B
usiness model innovation
_M
anagerial cognition
_ Entrepreneurship
_O
pen innovation
CONTACT
hhl.de/entrepreneurship
concept of business models has increasingly gained attention from academics
and practitioners alike. However, the
popularity of the term has led to an inflationary use of the phrase in daily life
and the media and as a result many people use the term without understanding
its true meaning. Despite many definitional inconsistencies, business models
first and foremost explain the logic, how
a firm works and how profits are generated. Usually, business models consist of
the following elements: value proposition (what value is generated for the customers), value creation (how is the value
created), and value capture (how can
the value be transformed into profits).
Business models are, without a doubt, a
very important concept for managers in
structuring their business activities.
What was the motivation for studying
coping strategies in the context of business model innovation?
Jun.-Prof.
Dr. Velamuri: Behavioral
scholars have already found that coping strategies help decision-makers to
stay actionable in different contexts that
are characterized by high variability.
However, existing studies do not explain
how managers deal with uncertainty
in the highly complex case of business
model innovation. Although it seems
reasonable to assume that they also rely
on certain mechanisms to reduce uncertainty in decision-making, we still lack
detailed understanding of their specific
coping strategies. Therefore, we found
it interesting and engaging to identify
specific coping strategies for decisionmaking in the context of business model
innovation.
How did you identify the distinct coping
mechanisms, and what was the methodological approach?
Jun.-Prof. Dr. Velamuri: The general aim
of our research paper was to develop a
theoretical framework for coping strategies to support decision-making in business model innovation contexts. For data
collection, we used in-depth interviews
with nineteen decision-makers from ten
software companies and complemented
our empirical data with publicly available data. Using a two-step thematic
analysis of the data, we were able to identify respondent’s subjective theories for
coping mechanisms. At first, we collected
individual expressions of how mangers
reduced uncertainty during business
model development. In a second step,
we looked for patterns across interviews
and examined how lower-level mechanisms can be aggregated to higher level
coping strategies that facilitate business
model decisions at the firm level.
Does your study on coping strategies
focus on a specific industry?
Jun.-Prof. Dr. Velamuri: Our research
studied coping strategies in the context
of the software industry. We studied
how software companies introduced
software-as-a-service (SAAS) solutions
in their industry. Traditionally, software
companies provided software through
on-premises business models, which
consisted of developing the software
in-house, shipping it to customers, deploying it at the customers’ location,
and providing software updates at regular intervals. In contrast to traditional
on-premises software products with
their package-based licensing, SAAS
provides software on-demand to customers. SAAS solutions utilize cloud
computing technologies to provide software in a fundamentally different manner. This also necessitates the development of a totally new business model
when compared to their traditional
on-premises business model. Therefore,
the software industry provided rich examples of how decision-makers rely on
coping strategies to handle uncertainty
during the developmental phase of this
new business model. In particular, we
analyzed how managers have handled
uncertainty arising from adoption barriers of the SAAS model such as data security threats, economic risks, and performance fluctuations.
What are the main findings of your
research project?
Jun.-Prof.
ings
Dr.
reveal
Velamuri: Our find-
five
strategies
which
Unique Paper Award at ISPIM 2015
Jun.-Prof. Dr. Vivek Velamuri,
Christian Comberg (both HHL), and
Dirk Schneckenberg (ESC Rennes,
France) received this year’s ISPIM
“That’s Interesting!” Research Award
for their research paper titled “The
Design Logic for Business Model
Innovation in Sharing Economies”
at the International Society for
Professional Innovation Management
(ISPIM) Conference held in Budapest
from June 14 to 17, 2015. The “That’s
Interesting!” Award, sponsored by the
Aalto University School of Business
recognizes the conference paper that
most effectively pushes the boundaries of our existing knowledge. The
criteria for the award are the extent to
which the full academic paper: crosses
boundaries, challenges taken-for-granted assumptions in the field, denies old
“truths”, attracts the reader’s attention,
and makes an original argument. The
article explores distinct cognitive
processes which undergird managerial reasoning during the design of
new business model configurations in
emerging market environments.
decision-makers use to cope with uncertainty and complexity during business model innovation decision-making.
These are (1) customer centricity, (2) value co-creation, (3) capability evolution,
(4) ecosystem growth, and (5) adaptive
pricing. In addition, we found that these
coping strategies can help to explain
how managers make decisions during
the development of new value creation,
value proposition, and value capture
configurations. It is also worth mentioning that our identified strategies for
coping with uncertainty are mutually interdependent and obviously imply adaptation as well as interaction at individual
and collective firm levels.
What do you contribute to theory and
how do coping strategies for business
model innovation fit into the research
focus of the Schumpeter Junior Professorship in Entrepreneurship and Technology Transfer?
Jun.-Prof. Dr. Velamuri: Our findings on
coping strategies contribute to the evolving literature of the evolutionary view of
business model innovation. Prior studies
have identified continuous experimentation and adaptation in combination with
trial and error learning as a tool to stay
actionable in highly uncertain business
model decision contexts. Our identified
coping strategies offer a new approach
and hence expand managers’ toolkit to
maintain their decision-making capacity. Therefore, our findings are highly
relevant for academics and practitioners alike and provide important implications for decision-making in business
model innovation.
The research focus of the chair spans
entrepreneurship, innovation, and technology fields. The concept of business
model innovation combines these research fields and offers a rich variety of
possible research questions. Our study
combines technological innovation and
new business model development, as
SAAS is only possible through the introduction of new cloud computing technologies which in turn require different
business models to commercialize.
Jun.-Prof. Velamuri, your study sounds
indeed very interesting. How was the
response to your study from the scientific community?
Jun.-Prof. Dr. Velamuri: So far, the re-
Jun.-Prof. Dr. Vivek Velamuri, Christian Comberg and Dirk Schneckenberg
at ISPIM 2015, Budapest, Hungary
sponse has been very positive. Based on
the valuable feedback received at various conferences, the article was revised,
fine-tuned, and finally got accepted for
publication in the R&D Management
Journal in Nov 2015.
For your analysis you focused on the
software industry. Do you think that
your results remain valid beyond hightechnology settings and what are your
future plans for this research topic?
Jun.-Prof. Dr. wVelamuri: This is a very
interesting question. Although different
industry contexts may require a slight
modification of the coping strategies for
decision, I think that the underlying coping mechanisms might be the subject
of bigger variations depending on the
industry; but the higher level and aggregated coping strategies will – to a great
extent – remain the same. Nonetheless,
we need future studies to further validate this emergent framework and gain
a deeper understanding how internal
and external factors, like different industries or the professional experience
of the decision-maker, might influence
the applied coping strategies. To conclude, our study provides the first framework on coping strategies to manage uncertainty in business model innovation
and therefore provides a basis for further validation and testing. This opens
a new source of future research and we
are looking forward to additional studies on this very interesting research topic. I personally do not think that we have
tapped the full potential of this topic yet
and I can well imagine our chair to follow up on this very promising research
topic.
Transfer
The chair is actively involved with the
transfer of knowledge from within HHL
to various external partners through
consulting projects. The transfer activities aim to directly benefit both research
institutions and companies based in the
region. We either consult for external organizations in solving current business
challenges faced by them or help develop
business plans for entrepreneurial ventures. Some transfer projects that the
chair has been involved since 2014 are
listed in the table below.
Consulted Research Institutions
Herzzentrum Leipzig GmbH
Consulted the Herzzentrum Leipzig on
turning their university research facility
into a profit center
Institut für nichtklassische
Chemie e. V.
Developed a cost calculation tool for
Institut für nichtklassische Chemie (INC)
to determine prices for their external
services
Helmholtz-Zentrum für
Umweltforschung GmbH
Developed a business plan for HelmholtzZentrum to evaluate a potential spin-off
Consulted Companies
HANDSPIEL GmbH
Conducted a market analysis for the upcoming internationalization of the Leipzig
based digital-design startup Handspiel
HeiterBlick GmbH
Consulted Heiterblick on the identification
of potential business segments to expand
their product portfolio
Vita 34 AG
Developed a business plan for a research
center for potential stem cell treatments
Novanex
Developed a marketing strategy for market entry of an novel product of novanex
geomap GmbH
Developed a market entry strategy for
the newly founded Leipzig based startup
geomap
Belantis, EventPark GmbH
Consulted the company in optimizing the
core processes of the largest amusement
park in the state of Saxony
Infosys Consulting
Consulted the company in identifying
potential implications of Block Chain
technology on the traditional value chains
of the banking sector
CENTER FOR LEADING INNOVATION AND COOPERATION (CLIC)
Industry 4.0 Is Upon Us
The first industrial revolution retrospectively refers to the development of the
steam engine. The second revolution
was then the assembly line and the third
the rise of information technology. For
the first time in history, we discuss an industrial revolution ahead of us: Industry
4.0, which is seen as the digital revolution and interconnectedness of products, machines and tools.
In Germany, the processing of huge
amounts of data, a result ensuing from
smart devices, is called Industry 4.0
or Industrial Internet. Industry 4.0 is
ubiquitous in the production halls of
large automobile manufacturers: machines exchange information autonomously, components “talk” to each other.
Production facilities connect with databases of suppliers, and communicate
when replenishment arrives. This next
advancement in industrial production
will allow companies of all sizes to interconnect sensors, autonomous robots, intelligent machines, workers and
real-time tracking systems to radically
change their production capabilities.
CLIC focuses on
developing and implementing new standards
for Industry 4.0 systems.
Machines will self-configure, materials
will flow automatically and cutting-edge
networks within the factory will connect
machines and the modern industrial
CENTER FOR L
EADING
INNOVATION AND
COOPERATION (CLIC)
ACADEMIC DIRECTORS
_P
rof. Anne Sigismund Huff, Ph.D.
_P
rof. Dr. Kathrin M. Möslein
_P
rof. Dr. Ralf Reichwald
EXECUTIVE DIRECTOR
Dr. Claudia Lehmann
CORE COMPETENCIES/
RESEARCH INTEREST
_ Industry 4.0, advanced manufacturing,
industrial internet
_O
pen innovation
_M
ass customization
_C
reativity techniques and methods
CONTACT
clicresearch.org
Dr. Claudia Lehmann presenting Industry 4.0 in San José, CA
worker differently. These changes will
enhance productivity, but also introduce new techniques in product
manufacturing.
The CLIC researchers analyze productivity-relevant factors for service operations to allow effective and efficient
service operations by respecting both
local and technical conditions. In addition, they develop innovative technical
components
collaboratively
with
German manufacturers like AUDI and
Continental in order to exploit the full
potential of Industry 4.0. By combining
user integration, modern work design
and Big Data applications, they create
the basis for new business models that
enable value creation opportunities beyond the previously existing business
activities.
Like on a Chess Board:
How Machines, Services and the
Worker Have to be Arranged in
the Era of Industry 4.0
Interview with Dr. Claudia Lehmann, Executive Director at the Center for Leading
Innovation and Cooperation (CLIC) about Industry 4.0, cyber physical systems, and
mass customization.
When does the Industry 4.0
revolution start?
Dr. Lehmann: I think it already did
start, but what we see today is actually
the technological basis of Industry 4.0
and the Industrial Internet. The challenge lies in the establishment of a systemic and organizational approaches.
Certainly, Industry 4.0 requires a technological basis, but currently, the goal is to
develop systematic approaches that integrate both the overall social and technical systems. That is why we also talk
about a socio-cyber physical system.
How do you position yourself in Industry 4.0 in respect to the Industrial Internet and how do you suggest handling
Industry 4.0?
Dr. Lehmann: From my perspective,
it is a misunderstanding to perceive
Industry 4.0 and Industrial Internet
as two bipolar, maybe even competing, systems. The Industrial Internet
Consortium, IIC, from the United States
is also connected to the German Industry
4.0 platform. Science and research
should see themselves as a link between
the two worlds, because Industry 4.0 as
an international standard will be much
more effective and has greater chances
for success. It should not be confined
to European or even German borders.
Nevertheless, a European standard
is mandatory in any case, otherwise
Industry 4.0 makes no sense.
In general, CLIC as part of HHL is interested in how to create a foundation to
integrate those great inventions into organizations from an innovation and entrepreneurial perspective.
Is there a timely resolution for the creation of European standards in sight?
Dr. Lehmann: At the moment, there is
neither a concrete development plan
and nor a final standard. Nevertheless,
we have to face the challenge. For sure,
there are ups and downs in the market
and success often builds on previous
failures. From my point of view, it is important that continuing conversations
are not only held with large industrial
companies, but also include small and
mid-size enterprises.
“The potential for
business models is high
and companies can
customize their products
to i ndividual customer
requirements. However,
there is no one-size-fitsall solution and often
substantial investments
are necessary.”
Dr. Claudia Lehmann
There is a need for standardized interfaces so that the machines are able to
communicate with each other and share
data seamlessly.
What is the way for SMEs to
participate in Industry 4.0?
Dr. Lehmann: Whether SMEs should
keep pace with the Industry 4.0 revolution cannot be answered generally.
But I think all companies should deal
with and discuss the opportunities and
threats to make an informed and deliberate decision on Industry 4.0. Sometimes,
it does not have to be the “next big thing”,
but even small improvements can have a
great impact. Overall, SMEs should value
their data as a resource by which they
can generate, for example, new or improved services.
At CLIC, we developed an Industry 4.0
maturity model. No matter whether you
are a digital freshman or already a digital
champion, we help companies to think
about: Are you ready for Industry 4.0?
What role do cyber physical systems
(CPS) play in Industry 4.0?
Dr. Lehmann: Intelligent products in
Industry 4.0 are called “cyber-physical
systems” but many manufacturing companies evolve from a product to a solutions provider. The service business is
gaining greater importance. The parole
is: solutions instead of products, new
ways to the customer, close ties to the
customer. In short, rapid transformation
shapes new business models.
What does Industry 4.0 mean for
smaller manufacturers?
How do CPS impact business models?
Dr. Lehmann: Many of the medium-sized
Dr. Lehmann: Industry 4.0 and CPS of-
companies face the question of whether
they should invest in the development of
Industry 4.0 or not. For sure, the potential for new business models is high and
companies can customize their products
to individual customer requirements
much more effectively than in the past.
However, there is no one-size-fits-all solution and often substantial investments
are necessary.
fer companies numerous opportunities
for new business and improved productivity, and thus also for increased competitiveness. Connected manufacturing
processes have the potential to improve
productivity by up to 30 percent. In conjunction with fast data networks and
software, sensors on components and
machines enable objects to exchange information with one another without the
What is the vison for Industry 4.0?
Dr. Lehmann: Firstly, the product to be
need for human intervention (“internet
of things”).
In the future machinery can identify
wear and tear and arrange for maintenance in good time. In this way, unplanned downtime can be reduced and
productivity will increase.
What are the challenges for
the m
anagement in companies
implementing Industry 4.0?
Dr. Lehmann: Industry 4.0 is often com-
pared to and described as “production
chess” within cyber-physical systems.
Like on a chess board, the figures, in this
case the machines and services, have to
be arranged. This metaphor of a chess
board shows, from my point of view, an
important aspect.
I am pretty sure you might know about
Moore’s law, referring to the observation
that the number of transistors in a dense
integrated circuit doubles approximately every two years. Another story you
might know is about the inventor of the
chess game.
Bringing these two stories together we
are in the second part of the game of
chess and it is not imaginable what is
happening with the giant amount of
data available.
Things we never thought of becoming
true are reality, seeing the Google car or
IBM Watson being “alive”. It is not a coincidence that we are where we are right
now. It is just the logical consequence of
the existing potential. So the question is
how can we handle the second part of
the game of chess?
What are the conditions for
successful implementation?
Dr. Lehmann: The broad variety and
application of Industry 4.0 requires
new qualifications over the next years.
Industrial partners can take this into
account by developing and introducing
new teaching and research platforms.
Especially the new understanding of different roles of the workers within the
production process has to be considered
in order to reach the shop floor.
manufactured must contain all necessary information for its production requirements. Secondly, self-organization
will become increasingly important for
the industrial worker. Thirdly, flexible
decisions on production processes will
become reality and decentralized cyberphysical systems (CPS) will interact via
embedded internet-based technologies.
Finally, Industry 4.0 represents a new
level of organization due to the control
of the entire value chain and the services along the life cycle of products.
Industry 4.0 encompasses all phases of
value creation: from the concept to the
order, from the development to the production, from the delivery to related services and the recycling.
Closely related to Industry 4.0, Mass
Customization is an important research
field at CLIC. Mass customization is a
strategy that combines the advantages
of both mass production and product
individualization. Nowadays, customers
already benefit from the possibility to individualize a long list of products – from
T-shirts to furniture or hiking boots. One
of Germany’s famous mass customizers
has its main offices in Leipzig and was
already founded in 2002: the T-shirt individualizer Spreadshirt.
“We explore mass
customization in
business markets.”
Dr. Claudia Lehmann
However, this individualization requires a highly flexible production,
which makes it a hotspot of Industry 4.0.
Mass customization has already gone
through three decades of exhaustive
research. But it is only now that more
and more producers invest in Industry
4.0 technologies that enable them to
customize their offerings. This moves
mass customization to a whole new
level and brings several new product
groups to inexpensive individualization.
Furthermore, as online configurators
have been constantly improving over
the years, complex configurations can
now be accomplished. But yet, one thing
is certain: existing research on mass
customization deals with end consumers mainly, rarely considering business
customers. This gap, namely mass customization in business markets, drives a
large part of the current research activities at CLIC.
BRIDGE: Vocational
and Educational
Training in Tunisia
Tunisia is one of the fast growing
countries in Northern Africa and is
becoming more and more important for Germany as an economic
partner. CLIC researched, within
the BRIDGE-Project (September
2012 to August 2015), the export
of vocational and educational
training to Tunisia via remote services. The project extended the
current research activities of CLIC
into the field of services.
At the final presentation of the
project in July 2015 the following
key aspects were presented:
_ The export of vocational and
educational training can be
facilitated via remote services.
Current technologies such as
collaboration platforms are a
means of establishing remote
service and hence reduce current efforts.
_ Innovation can benefit from
IT-focused means for knowledge sharing such as collaboration platforms. Nonetheless,
business model innovation is
as important for the successful
export of German vocational
training.
_ Within BRIDGE, the German
providers of vocational and
educational training benefited
from business model developments.
_ However, culture is a very important facet for the export of
training. When new concepts
are developed, a cultural adaptation is as important as the
mere content of training.
Within the BRIDGE project, a
new brochure was also released
entitled “Remote Service im
Bildungsexport: Chancen für Unternehmen”, that summarized and
depicted the results of the project
for companies.
Mass Customization for
Business Customers Is
Fundamentally Different
Since the middle of 2015, CLIC has been
managing a research project within
the Saxon textile industry, the futureTEX Basis Project Mass Customization.
Hereby, CLIC draws on experience from
former mass customization projects
such as KUMAC. In strong alliances
with Univ.-Prof. Dr. Frank Piller from
RWTH Aachen, the focus was on end
consumers in a retail context. Now, the
scope for mass customization research
shifted. The aim is to investigate the
key elements of introducing mass customization for business customers, a
group that has always been catered to
with individualized offers. One major
challenge is the design of the customermanufacturer interaction, since this is
the basis for successful product individualization. During this interaction,
the customer’s needs are taken into the
process and then translated into a product. Currently, product individualization
on business markets is mainly limited
to made-to-order production, which requires a time-consuming and highly individualized sales process.
Here, existing mass customization research offers promising approaches to
facilitate this interaction by standardizing a part of this process – but they need
to be adapted for business customers.
The project especially supports the development of small and medium-sized
textile enterprises in eastern Germany
into sustainable and customer-centered
value networks. In this vein, futureTEX assists the Saxon textile industry
that is known for its great expertise
in Technical Textiles which have also
been the major growth area in the last
decades. Technical Textiles are, for example, acoustic textiles which can be
employed in big meeting rooms to reduce the echo and noise impact in general. For instance, these textiles can
be configured with regard to a specific
noise level, size or the design. “We need
a well-constructed stratedy, becuase
Saxon SME struggle with the big invest-
“The move toward mass
customization is not
individualization but
standardization.”
Leontin Grafmüller
ment”, as Leontin Grafmüller from CLIC
resumed. In a recent study of Grafmüller
& Habicht (2015), CLIC has established
a comprehensive overview of the main
challenges for implementing mass customization on B2B markets. Our findings suggest three primary hotspots.
Firstly, the customer value for the business context is fundamentally different,
since “fun” components do not play a
role within the configuration process.
This also has an impact on the interaction between the customer and the manufacturer, because if fun is not important, the entire co-creation process must
be redesigned. It is rather efficiency and
transparency which are particularly important for business customers. Thirdly,
products such as acoustic textiles exhibit complex characteristics like noise
reduction, which challenges the configuration process.
Leontin Grafmüller presenting the latest research results at the 2015 World Conference on Mass
Customization, Personalization & Co-Creation in Montreal, Canada
TANDEM:
Innovativeness and
Knowledge in
Demographic Change
The demographic change in Germany
will increasingly impact the creation,
retention and diffusion of knowledge
in companies. The project TANDEM
deals with its consequences on the
innovative nature of companies by
systematically developing management measures.
In particular, the research project
focuses on how age diversity can
be turned into an opportunity for
innovation, particularly by increasing the collaboration between older
and younger employees throughout
entire innovation processes. For this
purpose, methods and tools from the
area of open innovation are adapted
to the specific context of increasing diversity within organizations.
In collaboration with our partner
companies DATEV e. g. and B. BRAUN
Melsungen AG, a series of change
management projects were run to
design, implement and evaluate
specific management tools with
age-diverse groups of employees (see
(Plieth et al.(2015): Das DemografieProjekt 2022. In: Zeitschrift Führung +
Organisation, 84(3), p. 191–96).
Altogether, there are three key layers
for the firms’ innovativeness which
become relevant because of demographic change:
_ first, the capability of firms to
adapt to changing conditions in the
market,
_ second, the vitality of social ties
which means connecting individuals more intelligently, and
_ third, the motivation of each
individual to learn and exchange
knowledge.
As demographic change impacts the
flow of people through organizations,
knowledge management in general,
and innovation activities in particular, need to be adapted. Sensitivity
towards different stages in life and
limitations on the job market must be
further developed. Individual competences for managing knowledge
become increasingly relevant and,
hence, need to be systematically addressed. The following figure depicts
each layer and the subsequent actions to be taken.
Publications
and Conference
Presentations
2014–2016
CENTER FOR ADVANCED
STUDIES IN MANAGEMENT
(CASiM)
Books
Strategic
^ and International
Management
Albach, Horst; Meffert, Heribert; Pinkwart, Andreas;
Reichwald, Ralf; von Eiff, Wilfried
Boundaryless hospital: rethink and redefine health
care management
Berlin: Springer, 2016
For links and further information
see the HHL Publications Database:
hhl.de/publications
ACADEMIC GROUP
Reichwald, Ralf
Management of permanent change
Wiesbaden: Springer Gabler, 2015
Journal Articles
Reichwald, Ralf (Eds.)
The role of trust in business economics
Special section in: Schmalenbach Business Review:
sbr, 67 (2015) 2, 141–170
Conference Papers and Presentations
Albach, Horst
Motivation for trust research from the business
economics perspective
International CASiM Research Colloquium on Trust
Leipzig, Germany, July 9, 2015
DR. ING. H.C. F. PORSCHE
AG CHAIR OF STRATEGIC
MANAGEMENT AND FAMILY
BUSINESS
Book Chapter
Stubner, Stephan
Digitalisierung und nutzungsbasierte Service-Modelle
In: Boes, Andreas (Ed.). Dienstleistung in der digitalen Gesellschaft: Beiträge zur Dienstleistungstagung
des BMBF im Wissenschaftsjahr 2014. Frankfurt am
Main: Campus, 2014, 235–241
Journal Article
Hoffmann, Christian; Wulf, Torsten; Stubner,
Stephan
Understanding the performance consequences of
family involvement in the top management team:
the role of long-term orientation
In: International Small Business Journal, (2014), DOI
10.1177/0266242614550500
Meffert, Heribert
Motivation for trust research from the marketing
perspective
Stubner, Stephan; Roleder, Kati; Weißbart, M.
Ash, Anirban
A conceptual paper on the evolution of trust in the
relationship between investment bank(er)s & their
clients
31th Annual IMP Conference and Doctoral
Colloquium
Kolding, Denmark, August 25–29, 2015
2015 International Conference on Business Market
Management (BMM)
London, UK, July 3, 2015
Private equity involvement in family firms: does
the PE value creation model work in the family firm
context?
14th Annual Conference of the European Academy of
Management
Valencia, Spain, June 4–7, 2014
Baumann, Matthias; Stubner, Stephan
Boards in family firms: Task changes over generations
G-FORUM
Kassel, Germany, October 8–9, 2015
Dienemann, Sabina; Stubner, Stephan
Ash, Anirban
The role of trust in investment bank(er)s & their
clients
Advances in Business – Related Scientific Research
(ABSRC)
Milan, Italy, December 11, 2014
The familiness concept in family firm research:
a literature review
74th Annual Conference of the Academy of
Management
Philadelphia, USA, August 1–5, 2014
Kanbach, Dominik; Stubner, Stephan
Nguyen, Linh
The effects and dynamics of trust across
organizational hierarchies in strategic alliances
Corporate venturing:
towards a knowledge-based view
G-FORUM
Kassel, Germany, October 9, 2015
Veit, Philipp
Nguyen, Linh
Effects and dynamics of trust at multiple levels in
strategic alliances
31st European Group for Organizational Studies
(EGOS) Colloquium
Athens, Greece, July 1, 2015
author of the respective chair/center involved
in the publication if not listed as first author.
G-FORUM
Nguyen, Linh
DR. AREND OETKER CHAIR OF
BUSINESS PSYCHOLOGY AND
LEADERSHIP
Annual Meeting of the Academy of International
Business (AIB)
Bengaluru, India, June 28, 2015
Book Chapter
Nguyen, Linh
Meynhardt, Timo
74 Annual Meeting of the Academy of Management
(AOM)
Philadelphia, PA, USA, August 1–5, 2014
In: John M. Bryson; Barbara C. Crosby;
Laura Bloomberg (Eds.). Public value and public
administration. Washington, DC: Georgetown
University Press, 2015, 147–169
La vie en rose – sources and effects of positive
emotions in strategic alliances: a boundary spanning
role perspective
Please note, the underline indicates the main
Board roles and new venture team effectiveness
A stagewise model of trust development in strategic
alliances
th
Public value: turning a conceptual framework into
a scorecard
PUBLICATIONS 65
Journal Articles
Sharma, Radha R.; Mukherji, Shomai
Sharma, Radha R.
Meynhardt, Timo; Hermann, Carolin; Anderer,
Stefan
In: Dialogue Review, (2015) 8, 62–65
In: Albach, Horst; Meffert, Heribert; Pinkwart,
Andreas; Reichwald, Ralf (Eds.). Management of
permanent change. Wiesbaden: Springer Gabler,
2015, 195–216
ring PDW on Responsible Management Education
in Action: A Competence-Based Approach
75th Annual Meeting of the Academy of
Management, Vancouver, British Columbia, Canada,
August 7–11, 2015, Meynhardt, Timo; Gomez, Peter
Sharma, Radha R.; Pardasani, Rupali
Do you think like a hedgehog or a fox?
Gemeinwohl: Was dient der Allgemeinheit? Und wer?
In: Wirtschaftswoche, 30.10.2015, 9
Meynhardt, Timo
Organisationen machen Gesellschaft
Organizational transformation for sustainable
development: a case study
Management of religious diversity by organizations
in India
In: Gröschl, Stefan; Bendl, Regine (Eds.). Managing
religious diversity at the workplace.
Farnharm, Surrey: Gower, 2015. 223–238
In: vdma-Nachrichten (2015), November, 69
Sharma, Radha R.; Sharma, Neha P.
Meynhardt, Timo
Volkswagen wird deutlich abgestraft:
VW im Gemeinwohlatlas
In: Wirtschaftswoche, 29. 12.2015, 3
Gomez, Peter; Meynhardt, Timo:
Gewinnstreben und die Frage der gesellschaftlichen
Akzeptanz
In: Neue Zürcher Zeitung NZZ, (2015) 8, 15
Opening the gender diversity black box: causality
of perceived gender equity and locus of control
and mediation of work engagement in employee
well-being
In: Frontiers in Psychology, (2015) October, DOI:
10.3389/fpsyg.2015.01371
In: ZögU: Zeitschrift für öffentliche und gemeinwirtschaftliche Unternehmen, 37 (2014) 4, 271–272
Case Study
Case Centre, 2015, Reference No. 215-131-1 and
215-131-8 (teaching note)
Meynhardt, Timo; Goebel, Alexander; Rüdiger,
Trimpop
Ein kohärenter Managereid als Zukunft der
verantwortungsvollen Führungskraft
Academy of Management Conference, 75th Annual
Meeting of the Academy of Management, Vancouver,
British Columbia, Canada, August 7–11, 2015
Sharma, Radha R.
Navigating challenges in the research journey during
PDW on international insights on supervising PhD
scholars for success across the globe
In: Personalführung, (2014) 3, 36–39
Sharma, Radha R.
Emotional Intelligence
Sharma, Radha R.; Pardasani, Rupali; Bindlish,
Puneet
Facilitating workplace spirituality:
lessons from Indian spiritual traditions
In: Journal of Management Development, 33 (2014)
8/9, 847–859
Sharma, Radha R.; Pardasani, Rupali; Nandram,
Sharda
The problem of rape in India: a multi-dimensional
analysis
In: International Journal of Managing Projects in
Business, 7 (2014) 3, 362–379
Case Study
Does perceived gender equity affect work
engagement & employee well-being?
Second International Conference on Responsible
Management Education, Training and Practice
New Delhi, India, January 9–10, 2015
Sharma, Radha R.
CSR & sustainability: cross cultural experience
Second International Conference on Responsible
Management Education, Training and Practice
New Delhi, India, January 9–10, 2015
Sharma, Radha R.
Corporate social responsibility: global perspective
Conference on “Universities Build Country”,
University of Economics
Prague, Czech Republic, December 5, 2014
Sharma, Radha R.
Sharma, Radha R.; Mazumder, Tanusree
A spirito-humanistic model for sustainable
leadership in organizations during PDW on
humanistic management: a global perspective
Sharma, Radha R.
Meynhardt, Timo
FC Bayern Munich: creating public value between
local embeddedness and global growth
Sharma, Radha R.
75th Annual Meeting of the Academy of Management
Vancouver, British Columbia, Canada, August 7–11,
2015
Meynhardt, Timo
Warum Multirationalität ganz rational ist: die Kraft
der Vielfalt im Management. Book review of Kuno
Schedler und Johannes Rüegg-Stürm (Hrsg.):
Multirationales Management: der erfolgreiche
Umgang mit widersprüchlichen Anforderungen an
die Organisation. Bern: Haupt Verlag, 2013
Emotional competency for responsible management
transformation
Narayana Hrudayalaya: from heart care to human care
Ivey Publishing Case No. 9B14C032. London,
Ontario, Canada: Ivey Business School, 2014
Indian perspective on responsibility of corporations
Workshop on Rethinking Capitalism: Responsibility
of Corporations, Wittenberg Center for Global
Ethics (WCGE)
Lutherstadt Wittenberg, Germany, November 18,
2014
Sharma, Radha R.
Leadership typology of Gandhi
9. Fachgruppentagung AOW
Mainz, Germany, September 24–26, 2015
Khanna, Sushil
Meynhardt, Timo; Strathoff, Pepe; Brieger, Steven A.
2nd International Interdisciplinary Conference on
Contemporary India, Institute of Development
Studies Kolkata (IDSK)
Calcutta, India, December 10, 2015
Sharma, Radha R.
Khanna, Sushil
Sharma, Radha R.
Public value and happiness: evidence from public
administration in Switzerland
15 International Symposium on Public Sector
Management
Hamburg, Germany, July 2–3, 2015
Vancouver, Canada, August 7–11, 2015
th
Berndt, Thomas; Bilolo, Celine; Meynhardt, Timo
Investing in legitimacy: a performance analysis of
public value stock portfolios
ACRN 2015 – Social and Sustainable Finance and
Impact Investing (SSFII) Conference
Oxford, UK, April 23–24, 2015
ICCR CHAIR OF C
ORPORATE
RESPONSIBILITY AND
GOVERNANCE
Journal Articles and Book Chapters
Khanna, Sushil
The transformation of India’s public sector:
the political economy of growth and change
In: Economic and Political Weekly, L (2015) 5, 47–60
India since the 1980s: emerging capitalist class and
the making of a “new” political economy
Regional disparities in industrial growth in India
International Workshop on Subnational Economic
Development in India and China – The Role of Local
Variables in Rescaling and Restructuring Processes,
EHESS
Paris, France, May 1–12, 2015
Khanna, Sushil
Public sector enterprises in India: political economy
of their (intended) demise and resurrection
Fondation Maison des Sciences de l’Homme
Paris, France, May 21, 2015
Khanna, Sushil
ICCR Lecture on “Corporate Control and Governance
in India”
Wittenberg Center for Global Ethics (WCGE)
Lutherstadt Wittenberg, Germany, October 13, 2014
Indian culture through multiple lenses
Wittenberg Center for Global Ethics (WCGE)
Lutherstadt Wittenberg, Germany, October 13, 2014
Developing an alternative paradigm: global
perspectives on humanistic management
Academy of Management (AoM) Conference
Sharma, Radha R.
Using the power of spiritual and religious words to
create a sustainable and responsible world
Sharma, Radha R.
Fostering international training teaching and
research collaborations
German-Indian Round Table, HHL Leipzig Graduate
School of Management
Leipzig, Germany, Sept 2, 2015
Sharma, Radha R.; Pardasani, Rupali
Khanna, Sushil
Humanistic Management Network Global Retreat &
Conference
St. Gallen, Switzerland, July 3–6, 2014
Transparency, conflicts of interest and
related party transactions
Conference: Corporate Governance in Emerging
Markets – How to gain the Competition for Investors?, HHL Leipzig Graduate School of Management,
Center for Corporate Governance
Leipzig, Germany, Sept 24–25, 2015
The problem of rape: a threat to human dignity
Sharma, Radha R.
Ex-post facto research for developing a model for
sustainable leadership in organizations
European Academy of Management (EURAM)
Conference
ALFRIED KRUPP VON
BOHLEN UND HALBACH
JUNIOR PROFESSORSHIP
IN INTERNATIONAL
MANAGEMENT
Orban, Fabienne; Dauth, Tobias; Georgakakis,
Dimitrios; Schmid, Stefan; Ruigrok, Winfried
Hammer, Andreas
6th EIASM Workshop on Top Management Teams
and Business Strategy Research
Antwerp, Belgium, March 26–27, 2015
Leipzig, HHL Leipzig Graduate School of
Management, Diss., 2014
Leipzig: HHL Leipzig Graduate School of
Management, 2014
The impact of top management team diversity
on employer attractiveness: an upper echelons
perspective on the “race for talent”
Journal Articles
Dauth, Tobias; Tomczak, Agata
Internationalization of top management teams:
A comprehensive analysis of Polish stock-listed firms
CENTER FOR STRATEGY AND
SCENARIO PLANNING
In: Journal of Eastern European Management
Studies, 21 (2016), forthcoming
Book
Georgakakis, Dimitrios; Dauth, Tobias, Ruigrok,
Winfried
Wulf, Torsten; Hungenberg, Harald
Too much of a good thing: Does international
experience variety accelerate or delay executives’
career advancement?
In: Journal of World Business, 51 (2016),
forthcoming
Schmid, Stefan; Wurster, Dennis J.; Dauth, Tobias
Internationalisation of upper echelons in different
institutional contexts: Top managers in Germany and
the UK
In: European Journal of International Management,
9 (2015) 4, 510–535
Schmid, Stefan; Dauth, Tobias
Does internationalization make a difference? Stock
market reaction to announcements of international
top executive appointments
In: Journal of World Business, 49 (2014) 1, 63–77
Dauth, Tobias; Lehnen, Pascal; Velamuri, Vivek K.
De-internationalization: Past research and future
challenges
13th Vaasa Conference on International Business
Vaasa, Finland, August 26–28, 2015
Dauth, Tobias; Georgakakis, Dimitrios; Ruigrok,
Winfried
Climbing the ranks: Does international experience
variety accelerate or delay executives’ time to the top?
6th EIASM Workshop on Top Management Teams
and Business Strategy Research
Antwerp, Belgium, March 26–27, 2015
Grundlagen der Unternehmensführung:
Einführung für Bachelorstudierende. 5th ed.
Journal Articles
Hoffmann, Christian; Wulf, Torsten, Stubner,
Stephan
Understanding the performance consequences of
family involvement in the top management team:
the role of long-term orientation
In: International Small Business Journal (2014), DOI
10.1177/0266242614550500 (24p)
Meißner, Philip; Brands, Christian; Wulf, Torsten
Quantifying blind spots and weak signals in executive
judgement: a structured integration of expert
judgement into the scenario development process
In: International Journal of Forecasting, (2016),
forthcoming
Meißner, Philip; Wulf, Torsten
The development of strategy scenarios based on
prospective hindsight: an approach to strategic
decision making:
In: Journal of Strategy and Management, 8 (2015) 2,
176–190
Too much of a good thing: Does international
experience variety accelerate or delay executives’
career advancement?
2015 Academy of Management Conference
Georgakakis, Dimitrios; Dauth, Tobias; Ruigrok,
Winfried
The more international the better? The link between
international experience variety and career
advancement
2015 European Academy of Management (EURAM)
Conference
Warsaw, Poland, June 17–20, 2015
Georgakakis, Dimitrios; Dauth, Tobias; Ruigrok,
Winfried
Stay close to the firm’s headquarters: examining
the effects of international experience on career
advancement
2015 SMS Special Conference
St. Gallen, Switzerland, May 28–30, 2015
Zhou, Weni.; Velamuri, Vivek K.; Dauth, Tobias
Changing innovation roles of foreign subsidiaries
from the manufacturing industry in China
15 European Academy of Management Conference
(EURAM) – Waves and Winds of Strategic Leadership for Sustainable Competitiveness
Hoffmann, Christian
The influence of goals, governance structures and
resources on family firm performance
HHL Leipzig Graduate School of Management, Diss.,
2014
Management, 2014
ACADEMIC GROUP
Finance, A
ccounting and
Corporate Governance
CHAIR OF ACCOUNTING
AND AUDITING
Books
Zülch, Henning; Hendler, Matthias (Eds.)
International Financial Reporting Standards (IFRS)
2015
Weinheim: Wiley-VCH, 2015
Zülch, Henning; Beyhs, Oliver; Hoffmann, Sebastian;
Krauß, Patrick (Eds.)
Enforcement-Guide: Wegweiser für das
DPR-Verfahren
2. Ed. Berlin: Erich Schmidt Verlag, 2014
Zülch, Henning; Hendler, Matthias (Eds.)
Debiasing illusion of control in individual judgment:
the role of internal and external advice seeking
In: Review of Managerial Science (2014), DOI
10.1007/s11846-014-0144-6 (19p)
Georgakakis, Dimitrios; Dauth, Tobias, Ruigrok,
Winfried
Long-range planning – the affect of its intensity on
reducing top-managers’ uncertainty in strategic
decisions: a case study based investigation of
8 top-managers of different companies
Antecedents and effects of decision
comprehensiveness: the role of decision quality and
perceived uncertainty
In: European Management Journal, 32 (2014) 4,
625–635
HHL Working Papers
Meyer, Jens-Uwe
Innovationsmanagement:
die Innovationsfähigkeit eines Unternehmens durch
verschiedene Innovationskulturen stärken
HHL Working Paper 138
Management, 2014
International Financial Reporting Standards (IFRS)
2014
Weinheim: Wiley-VCH, 2014
Zülch, Henning
Enforcement in Österreich: zweistufig im zweiten
Versuch?
In: Der Betrieb, 68 (2015) 43, 2468–2469
Zülch, Henning; Hecht, Jens
Covenants im Kontext der Mittelstandsanleihe:
Korsett für Unternehmen, Segen für Investoren?
In: BondGuide: der Newsletter für Unternehmens
anleihen, (2015) 22, 17–18
Zülch, Henning; Höltken, Matthias
Das other comprehensive income nach IFRS:
eine relevante Ergebnisgröße in der deutschen
Bilanzierungspraxis?
In: IRZ: Zeitschrift für Internationale Rechnungs
legung, 10 ( 2015) 4, 163–166
Meyer, Jens-Uwe
Strengthening innovation capacity through different
types of innovation cultures
Management, 2014
Doctoral Theses
Zülch, Henning; Höltken, Matthias; Ebner, Germar
Zehn Jahre DPR: Ist das zweistufige EnforcementSystem effektiv?
In: Die Wirtschaftsprüfung, 68 (2015) 13, 656–666
Zülch, Henning; Kretzmann, Christian; Böhm,
Josefine; Holzamer, Matthias
Covenant(s) quo vadis: ein Gläubigerschutz
instrument am Scheideweg?
In: Der Betrieb, 68 (2015) 13, 689–695
th
Meyer, Jens-Uwe
Die Innovationsfähigkeit von Unternehmen:
messen, analysieren, steigern
2014
Göttingen: BusinessVillage, 2015
Zülch, Henning; Kretzmann, Christian; Hottmann,
Johannes; Kretzschmar, Tobias:
Die Operationalisierung effektiver Finanzmarkt
kommunikation: das RIC-Modell als ganzheitliches
Instrument zur Qualitätsbeurteilung von Finanz
informationen und deren Kommunikation
In: Der Betrieb, 68 (2015) 46, 2649–2654
PUBLICATIONS 67
Zülch, Henning; Stork genannt Wersborg, Tobias;
Detzen, Dominic
Plausibilisierungsmöglichkeiten einer Kaufpreis
allokation nach IFRS 3: theoretische Grundlagen und
Fallbeispiel
In: Betriebswirtschaftliche Forschung und Praxis
(BFuP), 67 (2015) 3, 300–327
Zülch, Henning; Böhm, Josefine; Kretzmann,
Christian; Holzamer, Matthias
Financial Covenants aus Banken- und
Unternehmenssicht
In: Der Betrieb, 67 (2014) 38, 2117–2122
Zülch, Henning; Fischer, Daniel T.
Die Neuregelung der Ertragsrealisation nach IFRS 15:
ein gravierendes Umdenken?
In: Der Betrieb, 67 (2014) 31, 1696
Aktuelle Erkenntnisse im Zusammenhang mit der
Gewinnkonzeption nach IFRS
In: Küting, P.; Pfitz, N.; Weber, C.P. (Eds.).
Rechnungslegung im Spannungsfeld von KostenNutzen-Überlegungen. Stuttgart: Schäffer-Pöschel,
2014, 301–302
Zülch, Hennig; Siggelkow, Lena
Bilanzpolitik im Rahmen der Erfassung von
Wertminderungen: eine empirische Analyse
europäischer Unternehmen
In: Corporate Finance, 1 (2014) 2, 65–73
Zülch, Henning; Teuteberg, Torben
Änderungen an IAS 16 und IAS 38 zur
Angemessenheit von Abschreibungsmethoden:
kein striktes Verbot der Umsatzbasierung
In: Der Betrieb, 67 (2014) 30, 1629–1632
Hoffmann, Sebastian; Höltken, Matthias
Deutschland und Österreich als Beispiele der Implementierung hybrider Enforcement-Systeme in Europa
In: Die Wirtschaftsprüfung, 67 (2014) 14, 730–736e
Hoffmann, Sebastian; Zülch, Henning
Lobbying on accounting standard setting in the
parliamentary environment of Germany
In: Critical Perspectives on Accounting, 25 (2014) 8,
709–723
Krauß, Patrick, Pronobis, Paul; Zülch, Henning
Abnormal audit fees and audit quality:
initial evidence from the German audit market
In: Journal of Business Economics, 85 (2015) 1, 54–84
IAS 40 – Als Finanzinvestitionen gehaltene
Immobilien
In: Thiele, Stefan; Keitz, Isabel von; Brücks, Michael
(Eds.). Internationales Bilanzrecht: Kommentar zur
Rechnungslegung nach IFRS. Bonn: Stollfuß, 2014
Krauß, Patrick; Quosigk, Benedict M.; Zülch,
Henning
Effects of initial audit fee discounts on audit quality:
evidence from Germany
In: International Journal of Auditing, 18 (2014) 1,
40–56
Kretzmann, Christian; Teuteberg, Torben; Zülch,
Henning
Zülch, Henning; Höltken, Matthias; Beyhs, Oliver
In: Corporate Ownership and Control, 12 (2015) 4,
906–927
Rahmenbedingungen von Abschlussprüfung und
Enforcement-Verfahren in Deutschland: Vergleich der
beiden Prüfungsverfahren
In: WP Praxis, (2014) 3, 73–77
Zülch, Henning; Höltken, Matthias; Beyhs, Oliver
Verfahrensunterschiede und in der Person des
Prüfers begründete Unterschiede zwischen
Abschlussprüfung und Enforcement-Verfahren
In: WP Praxis, (2014) 4, 91–96
Zülch, Henning, Höltken, Matthias; Beys, Oliver;
Hirschböck, Günther
Das österreichische Enforcement-Verfahren: ein
Praxisleitfaden für Bilanzierende
In: RWZ: Zeitschrift für Recht und Rechnungs
wesen, 24 (2014) 4, 108–115
Comparability of reported cash flows under IFRS:
Case Studies
Detzen, Dominic; Stork genannt Wersborg, Tobias;
Zülch, Henning
Bleak weather for Sun-Shine AG: a case study of
impairment of assets
In: Issues in Accounting Education, 30 (2015) 2,
113–126
Teuteberg, Torben; Voll, Daniel; Zülch, Henning
The success story of international additives producer
AG: a case study on categorization of investments
under IFRS
In: Journal of Accounting Education, (2015), DOI
10.1016/j.jaccedu.2015.11.003
Stand und Zukunft der Pre-Clearance im Rahmen des
deutschen Enforcement-Verfahrens
In: Der Betrieb, 67 (2014) 12, 609–614
Verbesserung der Corporate Governance durch
die Pre-Clearance? Kritische Anmerkungen zum
deutschen Enforcement-System
In: Zeitschrift für Corporate Governance: ZCG, 9
(2014) 4, 176–182
Working Papers and Others
FMA oder OePR: ein Beitrag zur derzeit ungeklärten
Rollenverteilung im österreichischen Enforcement
In: Internationale und kapitalmarktorientierte
Rechnungslegung: KoR, 14 (2014) 9, 437–440
Die Bilanzierung von Beteiligungen an assoziierten
Unternehmen sowie Gemeinschaftsunternehmen auf
der Basis des überarbeiteten IAS 28
In: Die Wirtschaftsprüfung, 67 (2014) 1, 34–42
In: Der Betrieb, 67 (2014) 10, 493–495
Zülch, Henning; Salewski, Marcus
Anmerkungen zu Langfristeffekten der IFRS-
Einführung auf die Disclosure Quality in Deutschland
In: Der Betrieb, 67 (2014) 20, 1092–1094
Enforcement of Financial Reporting:
a corporate governance perspective
HHL Working Paper 150 (revised version of HHL
Working Paper 142)
Management, 2015
Krauß, Patrick; Zülch, Henning; Quosigk, Benedikt
Differences in auditing practices: a comparative
study of audit tenure effects on audit quality
between Germany and the United States
Management, 2014
Kretzmann, Christian; Teuteberg, Torben; Zülch,
Henning
Comparability of reported cash flows under IFRS:
Management, 2015
Kleinau, Christina; Christian W. Kretzmann;
Henning Zülch
The pursuit of malevolence: minimizing corporate
social irresponsibility to maximize social welfare
Salewski, Marcus; Zülch, Henning
The association between corporate social
responsibility (CSR) and earnings quality:
evidence from European blue chips
Management, 2014
Stork genannt Wersborg, Tobias; Teuteberg, Torben;
Zülch, Henning
10 years impairment-only approach: stakeholders’
perceptions and researchers’ findings
Management, 2015
Doctoral Theses
Popp, Marco
Das Control-Konzept nach IFRS 10: Identifikation
und Auslegung unbestimmter Rechtsbegriffe und
Generalklauseln
Weinheim: Wiley, 2014
München: Roland Berger Strategy Consultants, 2014
Diss., HHL Leipzig Graduate School of Management,
2014
Management, 2014
Financial covenants in der
Unternehmensfinanzierung 2014
Determinants of investor reactions to error
announcements: extended evidence from Germany
Management, 2015
Enforcement of International Financial Reporting
Standards: a corporate governance perspective
HHL Working Paper 142 (revised in December 2015,
HHL Working Paper 150)
Management, 2015
Zülch, Henning; Salewski, Marcus
Corporate Social Responsibility und die Qualität der
Finanzberichterstattung – ein Widerspruch?
Höltken, Matthias; Ebner, German
Salewski, Marcus
Ebner, Germar; Höltken, Matthias
Zülch, Henning; Popp, Marco; Teuteberg, Torben
SSRN, 2015
Zülch, Henning, Böhm, Josefine; Kretzmann, Christian; Haghani, Sascha; Holzamer, Matthias
Ebner, Germar; Höltken, Matthias; Zülch, Henning
Zülch, Henning; Hoffmann, Sebastian; Höltken,
Matthias
Error announcements, auditor turnover, and earnings
management – Evidence from Germany
SSRN, 2014
Das other comprehensive income: aktuelle
Erkenntnisse zur deutschen Bilanzierungspraxis
In: Praxis der internationalen Rechnungslegung:
PiR, (2014) 4, 114–119
Ebner, Germar; Hottmann, Johannes; Zülch,
Henning
Ebner, Germar; Hottmann, Johannes; Teuteberg,
Torben; Zülch, Henning
Does enforcement change earnings management
behavior? Evidence from the EU after mandatory
IFRS adoption
SSRN, 2015
Accounting quality under IFRS: essays on value
relevance, earnings management and disclosure
quality
Stork genannt Wersborg, Tobias
Goodwill-Bilanzierung nach internationalen
Rechnungslegungsstandards
Management, 2015
Teuteberg, Torben
Current conceptual and empirical issues in group
reporting under IFRS
Management, 2015
Zülch, Henning
Die drei Dimensionen des Wettbewerbs „Investors’
Darling“: Darstellung und Diskussion über
Weiterentwicklungsmöglichkeiten
RIC Lecture Series No. 1, Neue Wege der Finanzmarktkommunikation – Das Zusammenspiel von
Reporting und Investor Relations
Leipzig, Germany, December 3, 2015
Hoffmann, Sebastian
Transparency as a double-edged sword in accounting
standard setting: the IASB’s staff summary of
comment letters
Critical Perspectives on Accounting Conference
Toronto, Canada, July 7–9, 2014
Jana, Stephanie
Die Praxisprobleme bei der Folgebilanzierung von
Sachanlagevermögen nach IFRS
6. Anlagenbuchhalter-Tagung
Weinheim, Germany, October 20, 2015
Chullen, Alberto; Kaltenbrunner, Hannes;
Schwetzler, Bernhard
Does consistency improve accuracy in multiple-based
valuation?
In: Journal of Business Economics, 85 (2015) 6,
635–662
Hammer, Benjamin; Knauer, Alexander; Lahmann,
Alexander; Pflücke, Magnus; Schwetzler, Bernhard
Steuervorteile aus Fremdfinanzierung – ein Phantom?
Replik zu Behling, CF 2015, S. 102 (106)
Zülch, Henning
Investors’ Darling 2015: Kapitalmarktkommunikation
auf dem Prüfstand
Kretzmann, Christian W.; Teuteberg, Torben; Zülch,
Henning
Hammer, Benjamin; Lahmann, Alexander;
Zülch, Henning
Corporate and Institutional Innovations in Finance
and Governance
Paris, France, May 21, 2015
In: Corporate Finance, 6 (2015) 7/8, 279–283
Investors’ Darling 2015 Award Ceremony
Hamburg, Germany, October 5, 2015
Future Challenges of Risk Management
Conference on Corporate Governance in Emerging
Markets
Leipzig, Germany, September 24, 2015
Zülch, Henning; Kretzmann, Christian W.
Investors’ Darling: eine neue Ära in der Bewertung
der Kommunikationsqualität kapitalmarktorientierter
Unternehmen in Deutschland
Bavarian Business Lunch
Munich, Germany, February 5, 2015
Zülch, Henning
Investors’ Darling 2014: der neue Wettbewerb zur
Qualitätsbeurteilung von Finanzinformationen und
deren Kommunikation
Investors’ Darling 2014 Award Ceremony
Hamburg, Germany, October 28, 2014
Zülch, Henning
Die DPR zwischen Standardsetzern und Regulatoren
Aktuelle Entwicklungen rund um Enforcement,
Bilanzierung und Abschlussprüfung, 6. Jahres
tagung Bilanzkontrolle
Frankfurt, Germany, October 15, 2014
Böhm, Josefine; Teuteberg, Torben; Zülch, Henning
Frequency of and reasons for bargain purchases –
Evidence from Germany
International Conference on “Corporate Governance, Accounting and Audit: Crisis Challenges”
Lüneburg, Germany, November 26, 2015
Comparability of reported cash flows under IFRS –
Evidence from Germany
Kleinau, Christina; Kretzmann, Christian W.; Zülch,
Henning
Minimizing corporate social irresponsibility to
maximize social welfare
Ethics in Accounting, Finance and Banking: Toward
a More Comprehensive Integration, The 18th IESE
International Symposium on Ethics, Business and
Society
Barcelona, Spain, June 30–July 1, 2014
Teuteberg, Torben; Stork-Wersborg, Tobias; Zülch,
Henning
10 years impairment-only approach – Stakeholder
perceptions and research findings
International Conference on “Corporate Governance, Accounting and Audit: Crisis Challenges”
Lüneburg, Germany, November 26, 2015
Ebner, Germar; Höltken, Matthias; Zülch, Henning
Determinants of investor reactions to error
announcements – Evidence for Germany
38th Annual Congress of the European Accounting
Association (EAA)
Glasgow, United Kingdom, April 28–30 2015
Do it yourself: the accounting profession shapes
transition in Germany
8th Accounting History International Conference
Melbourne, Australia, August 19–21, 2015
10th International Conference on Accounting and
Management Information Systems (AMIS)
Bucharest, Romania, June 10–11, 2015
Association (EAA)
Short-term and long-term effects of IFRS adoption
on disclosure quality and earnings management
10th Workshop on European Financial Reporting
(EUFIN 2014)
Regensburg, Germany, September 2014
Association (EAA)
Tallinn, Estonia, May 2014
Multiples und Beta-Faktoren für deutsche Branchen
How much do private equity funds benefit from
debt-related tax shields?
In: Journal of Applied Corporate Finance, 26 (2014)
1, 85–93
Mountain or molehill? Downward biases in the
conglomerate discount measure
In: Journal of Banking & Finance, 40 (2014) March,
420–431
Friedl, Gunther; Schwetzler, Bernhard
CHAIR OF FINANCIAL
MANAGEMENT
Books
Schwetzler, Bernhard; Aders, Christian (Eds.)
Jahrbuch der Unternehmensbewertung 2014
Düsseldorf: Handelsblatt Fachmedien, 2014
Jahrbuch der Unternehmensbewertung 2015
Düsseldorf: Handelsblatt Fachmedien, 2015
Journal Articles
Basel III und Bankbewertung: Auswirkungen der
verschärften Eigenkapitalforderungen auf den
Unternehmenswert
Friedl, Gunther; Schwetzler, Bernhard
Homogenitätsprinzip, Unternehmensbewertung und
Erfolgsmessung
In: RWZ: Recht und Rechnungswesen, 25 (2015) 6,
193–197
Hoffmann, Sebastian
Modernity, knowledge and appearance: professional
socialization in the aftermath of German reunification
Rudolph, Christin; Schwetzler, Bernhard
Hoffmann, Sebastian
Teuteberg, Torben; Salewski, Marcus; Zülch,
Henning
The lives of others: gender and the audit profession
in the context of German reunification
Steuervorteile aus Fremdfinanzierung als „Treibstoff“
für Private Equity-Renditen?
Knauer, Alexander; Lahmann, Alexander; Pflücke,
Magnus; Schwetzler, Bernhard
Schwetzler, Bernhard; Aders, Christian (Eds.)
Hoffmann, Sebastian
Alexander; Pflücke, Magnus; Schwetzler, Bernhard
77th Annual Meeting of the German Academic
Association for Business Research (VHB)
Vienna, Austria, May 2015
Association (EAA)
Ebner, Germar; Hottmann, Johannes; Teuteberg,
Torben; Zülch, Henning
Does enforcement change earnings management
behavior? Evidence from the EU after mandatory
IFRS adoption
Editorial: Unternehmensbewertung als “Monday
Morning Quarterback”
In: Corporate Finance, 5 (2014) 5, I
Inflation, taxes and corporate value –
the dark side of real growth
SSRN, 2016 (forthcoming)
Schwetzler, Bernhard; Lahmann, Alexander;
Hammer, Benjamin
Verschuldung deutscher
Private-Equity-Portfolio-Unternehmen
Leipzig/Berlin: HHL Leipzig Graduate School of
Management/German Private Equity and Venture
Capital Association e. V. (BVK), 2014
Schwetzler, Bernhard; Rudolph, Christin;
Kengelbach, Jens; Farag, Hadi
Invest wisely, divest strategically: tapping the power
of diversity to raise valuations
Munich/Leipzig: The Boston Consulting Group/HHL
Leipzig Graduate School of Management, 2014
Limbach, Peter; Schwetzler, Bernhard; Reusche,
Johannes
Once bitten, twice shy? How unconsummated deals
affect subsequent M&As
SSRN, 2014
Arnold, Sven; Lahmann, Alexander; Schwetzler,
Bernhard
(Re-)Financing policies and the value of debt-related
tax shields
SSRN, 2015
Brendel, Markus; Lahmann, Alexander; Schwetzler,
Bernhard
About estimating gains from diversification and why
firms self-select
SSRN, 2015
PUBLICATIONS 69
Brendel, Markus; Strenger, Christian; Schwetzler,
Bernhard:
The paradoxon of policy intervention:
the case of the German Tax Reduction Act
SSRN, 2014
Brendel, Markus
Good matches last longer: unobserved
heterogeneity across firm-owner matches
SSRN, 2014
Hammer, Benjamin; Loos, Robert; Schwetzler,
Bernhard
Exit through exitus in private equity buyouts
SSRN, 2015
Pflücke, Markus; Schwetzler, Bernhard
Do debt-related savings fuel private equity
performance?
SSRN, 2014
Hammer, Benjamin; Knauer, Alexander; Pflücke,
Inorganic growth strategies in private equity:
empirical evidence on add-on acquisitions
SSRN, 2014
Schwetzler, Bernhard; Loos, Robert
Fueling the buyout machine – Fundraising in private
equity
2015 Paris Financial Management Conference
Paris, France, December 14–15, 2015
SWFA (Southwestern Finance Association) 2016
Annual Conference
Oklahoma City, USA, March 9–12, 2016
Unternehmensbewertung und Insolvenz
9th Annual Conference of the EACVA (European
Association of Certified Valuators and Analysts)
Berlin, Germany, November 26–27, 2015
Unternehmensbewertung von Banken
13th Jahresforum Unternehmensbewertung of the
Handelsblatt Fachmedien GmbH
Frankfurt am Main, Germany, July 2–3, 2015
Cash und Excess Cash in der
Unternehmensbewertung
8 Annual Conference of the EACVA (European
Association of Certified Valuators and Analysts)
Berlin, Germany, October 16–17, 2014
th
Lahmann, Alexander; Schreiter, Maximilian;
Modelling dynamic redemption and default risk for
LBO evaluation: a boundary crossing approach
SSRN, 2015
Doctoral Theses
Brendel, Markus
Essays on causal inference in corporate finance
Kapitalstruktur, Ausfallsrisiko und
Unternehmenswert – ein integrativer Ansatz
12th Jahresforum Unternehmensbewertung of the
Handelsblatt Fachmedien GmbH
Frankfurt am Main, Germany, June 26–27, 2014
Brendel, Markus; Schwetzler, Bernhard;
Strenger, Christian
Hammer, Benjamin; Knauer, Alexander; Pfluecke,
Inorganic growth strategies in private equity:
empirical evidence on add-on acquisitions
Midwest Finance Association (MFA) 2014 Annual
Meeting
Orlando, USA, March 5–8, 2014
WHU Campus for Finance – Private Equity
Conference
Vallendar, Germany, March 27–28, 2014
World Finance Conference
Venice, Italy, July 2–4, 2014
European Finance Association (EFA) 41st Annual
Meeting
Lugano, Switzerland, August 27–30, 2014
2014 Financial Management Association (FMA)
Annual Meeting
Nashville, USA, October 15–18, 2014
21st Annual Meeting of the German Finance
Association (DGF) / 13th Symposium on Finance,
Banking, and Insurance
Karlsruhe, Germany, December 19–20, 2014
Real Options 19th Annual International Conference
Athens, Greece, June 17–20, 2015
Annual Meeting of the Asian Finance Association
(AsianFA)
Changsha, Hunan, China, June 29–July 2, 2015
SPARKASSEN FINANZGRUPPE
JUNIOR PROFESSORSHIP
IN M&A OF SMALL- AND
MIDSIZED ENTITIES
Management, 2015
The paradoxon of policy intervention:
the case of the German Tax Reduction Act
Eastern Finance Association (EFA) Annual Meetings
New Orleans, USA, April 8–11, 2015
Journal Articles
Knauer, Alexander
Brendel, Markus
Lahmann, Alexander; Krause, Volker Marko
Management, 2014
64 Annual Meeting of the Midwest Finance
Association (MFA)
Chicago, USA, March 4–7, 2015
European Financial Management Association
(EFMA) 2014 Annual Meetings
Rome, Italy, June 25–28, 2014
In: Journal of Business Economics, (2015), DOI
10.1007/s11573-015-0782-4, (36p)
Empirical essays on value creation and performance
effects of private equity backed company buyouts
Nöllgen, Bruno
The impact of industrial diversification on corporate
transactions
Management, 2014
Pflücke, Magnus
Current topics in private equity: an analysis of
selected value drivers in leveraged buyouts
Management, 2014
Reusche, Johannes
Essays on the characteristics of repeat acquirers
Management, 2015
Rudolph, Christin
Determinants of the conglomerate discount
2014
Management, 2014
Tischner, Matthias
A new perspective on synergy forecasts in mergers
& acquisitions
Management, 2015
Good matches last longer – Unobserved
heterogeneity across firm-owner matches
th
Brendel, Markus; Rudolph, Christin; Schwetzler,
Bernhard
A corporate finance application
of the O
axaca-Blinder decomposition:
Causes of the Diversification Discount
Reconsidering the appropriate discount rate for tax
shield valuation
Midwest Finance Association (MFA) 2014 Annual
Meeting
Orlando, USA, March 5–8, 2014
Alexander; Pflücke, Magnus, Schwetzler, Bernhard
Hammer, Benjamin; Loos, Robert; Schwetzler,
Bernhard
Exit through exitus in private equity buyouts
European Financial Management Association
(EFMA) 2015 Annual Meetings
Amsterdam, The Netherlands, June 24–27, 2015
22nd Annual Meeting of the German Finance
Association (DGF)
Leipzig, Germany, September 25–26
Financial Management Association (FMA) Annual
Meeting
Orlando, USA, October 14–17, 2015
European Midmarket 2015 Conference
Amsterdam, The Netherlands, October 23, 2015
Southern Finance Association (SFA) Annual
Meetings
Captiva Island, USA, November 18–21, 2015
Steuervorteile aus Fremdfinanzierung – ein Phantom?
Replik zu Behling, CF 2015, S. 102 (106)
Alexander, Pflücke, Magnus, Schwetzler, Bernhard
Steuervorteile aus Fremdfinanzierung als „Treibstoff“
für Private Equity-Renditen?
Knauer, Alexander; Lahmann, Alexander; Pflücke,
How much do private equity funds benefit from
debt-related tax shields?
In: Journal of Applied Corporate Finance, 26 (2014)
1, 85–93
SSRN, 2015
Arnold, Christian; Lahmann, Alexander; Schwetzler,
Bernhard
(Re-)Financing policies and the value of debt-related
tax shields
SSRN, 2015
Redenius-Hövermann, Julia; Strenger, Christian
Wolff, Michael; Oehmichen, Jana; Zschoche, Ulrike
In: ZCG: Zeitschrift für Corporate Governance, 9
(2014) 6, 266–270
2015
Der Referentenentwurf zur Frauenquote: Kritik und
Verbesserungsvorschlag
Brendel, Markus; Lahmann, Alexander; Schwetzler,
Bernhard
Redenius-Hövermann, Julia; Strenger, Christian
SSRN, 2015
In: Der Konzern, 12 (2014) 10, 373–381
About estimating gains from diversification and why
firms self-select
Frauenquote “reloaded”: kritische Würdigung
eines Referentenentwurfs zur Einführung einer
Geschlechterquote im Aufsichtsrat
Hammer, Benjamin; Lahmann, Alexander; Pflücke,
Markus; Schwetzler, Bernhard
Kohl, Christian; Rapp, Marc Steffen; Strenger,
Christian; Wolff, Michael
Do debt-related savings fuel private equity
performance?
SSRN, 2014
Schwetzler, Bernhard; Lahmann, Alexander;
Hammer, Benjamin
Verschuldung deutscher
Private-Equity-Portfolio-Unternehmen
Leipzig/Berlin: HHL Leipzig Graduate School of
Management/German Private Equity and Venture
Capital Association e. V. (BVK), 2014
Conference Presentations
Real Options 19th Annual International Conference
Annual Meeting of the Asian Finance Association
(AsianFA)
Changsha, Hunan, China, June 29–July 2, 2015
Bachmann, Carmen; Lahmann, Alexander; Schuler,
Carolin
The impact of thin-capitalization and earnings
stripping rules in the EU-15 on the tax shield
77. VHB Annual Meeting
Vienna, Austria, May 27–29, 2015
European Financial Management Association 2015
Annual Meetings
Amsterdam, The Netherlands, June 24–27, 2015
21st Annual Meeting of the European Accounting
Association
Glasgow, UK, September 2–5, 2015
Cling together, swing together: Employee ownership
and its influence on commitment and performance
Wolff, Michael; Firk, Sebastian; Schmidt, Torben
Value-based management sophistication in Europe:
organizational fit under institutional differences
2015
Akzeptanz des Deutschen Corporate Governance
Kodex: Ergebnisse einer Langzeitbetrachtung über
die ersten zehn Kodexfassungen
In: Zeitschrift für Corporate Governance: ZCG, 9
(2014) 5, 197–204
Others
ACADEMIC GROUP
Economics and
Regulation
Rapp, Marc Steffen; Strenger, Christian; Wolff,
Michael (Eds.)
Tätigkeitsbericht 2014/2015
Leipzig: HHL Leipzig Graduate School of Management, Center for Corporate Governance, 2015
Doctoral Thesis
CHAIR OF ECONOMICS AND
INFORMATION SYSTEMS
Journal Articles
Kohl, Christian
Essays on family firm behavior and compliance with
the German Corporate Governance Code
Management, 2015
Brandenburger, Adam; La Mura, Pierfranceso
Team decision problems with classical and quantum
signals
In: Philosophical Transactions of the Royal Society
A, forthcoming
La Mura, Pierfrancesco
A double-slit experiment for non-classical
interference effects in decision making
In: Topics in Cognitive Science, 6 (2014) 1, 58–62
Casajus, André
Rapp, Marc Steffen; Kohl, Christian
Family firms and best-practice rules of corporate
governance: evidence from the German corporate
governance code
7 Annual Workshop of the Nordic Corporate
overnance Network
G
Copenhagen, Denmark, June 1–2, 2015
th
Monotonic redistribution of performance-based
allocations: a case for proportional taxation
In: Theoretical Economics 10 (2015) 3, 887–892
Casajus, André
Monotonic redistribution of non-negative allocations:
a case for proportional taxation revisited
In: Economics Letters, 136 (2015), 95–98
CENTER FOR CORPORATE
GOVERNANCE (CCG)
Kaserer, Christoph, Rapp, Marc Steffen; Trinchera,
Oliver
Blockholder power, shareholder conflicts and legal
protection: evidence from tax preferences and
payout decisions
Casajus, André; Huettner, Frank
Potential, value, and the multilinear extension
In: Economics Letters, 135 (2015) October, 28–30
Studies
2015 Financial Management Association European
Conference
Venice, Italy, June 12–13, 2015
Casajus, André; Huettner, Frank; Béal, Sylvain
Kohl, Christian; Rapp, Marc Steffen; Wolff, Michael
Strenger, Christian
Casajus, André; Huettner, Frank; Béal, Sylvain;
Rémila, Eric; Solal, Philippe
Jahrestagung des Instituts der österreichischen
Wirtschaftsprüfer
Vienna, Austria, October 16, 2015
Kohl, Christian; Rapp, Marc Steffen; Wolff, Michael
Strenger, Christian
ecoDa: Corporate Governance Compliance and
Monitoring Systems
Brussels, Belgium, October 9, 2015
Kodexakzeptanz 2015: Analyse der Entsprechens
erklärungen von DAX- und MDAX-Gesellschaften zum
Deutschen Corporate Governance-Kodex
Kodexakzeptanz 2014: Analyse der Entsprechens
erklärungen von DAX- und MDAX-Gesellschaften zum
Deutschen Corporate Governance-Kodex
Der Wirtschaftsprüfer aus der Perspektive des
Aufsichtsrats
The Comply-or-Explain-principle:
What is added value for companies? (Panel)
Efficient extensions of the Myerson value
In: Social Choice and Welfare, 45 (2015) 4, 819–827
Characterizations of weighted and equal division
values
In: Theory and Decision, (2015), DOI 10.1007/
s11238-015-9519-7 (19p)
Weakly monotonic solutions for cooperative games
In: Journal of Economic Theory 154 (2014), 162–172
Casajus, André
Potential, value, and random partitions
In: Economics Letters, 125 (2014) 2, 164–166
Journal Articles
Strenger, Christian
Richtig gelebte Governance als Erfolgsfaktor
Wittenberger Führungskolloquium
Wittenberg, Germany, October 7, 2015
Strenger, Christian
Gibt es etwas Besseres als Q
uartalsberichterstattung?
(Gastbeitrag)
In: Börsen-Zeitung, 24.03.2015 (57), 11
Strenger, Christian
Governance bei börsennotierten
Familienunternehmen
In: ZCG: Zeitschrift für Corporate Governance, 9
(2014) 5, 205
Casajus, André
The Shapley value without efficiency and additivity
In: Mathematical Social Sciences 68 (2014)
March, 1–4
Strenger, Christian
Gelebte Unabhängigkeit und Statur –
Essentials für den Aufsichtsrat
Casajus, André
Wolff, Michael; Jacobey, Laura; Yoshikawa, Toru
4. Aufsichtsratstag des AdAR
Frankfurt, Germany, September 17, 2015
Who can stand up for good governance?
Evidence from board committees
35th Annual Meeting of the Strategic Management
Society 2015
Denver, USA, October 3–6, 2015
Collusion, quarrel, and the Banzhaf value
In: International Journal of Game Theory 43 (2014)
1, 1–11
On a class of solidarity values
In: European Journal of Operational Research 236
(2014) 2, 583–591
PUBLICATIONS 71
In: Economics Letters, 122 (2014), 167–169
Max Planck Institute for Mathematics in the Natural
Sciences
Leipzig, Germany, May 27, 2014
Null, nullifying, or dummifying players: the difference
between the Shapley value, the equal division value,
and the equal surplus division value
Deriving the qubit from entropy principles
Casajus, André; Huettner, Frank; Béal, Sylvain;
Rémila, Eric; Solal, Philippe
Casajus, André
In: Economics Letters, 125 (2014) 3, 440–443
Working papers
Sixth Meeting of the Society for the Study of
Economic Inequality (ECINEQ2015)
Luxembourg, Luxembourg, July 13–15, 2015
Solidarity within a fixed community
Working Papers
Casajus, André
Casajus, André
27th Conference on Operational Research
(EURO2015)
Glasgow, UK, July 12–15, 2015
Differentially monotonic redistribution of income
Management, 2015
Casajus, André
another case for proportional taxation
Potential, voting and power
Casajus, André
6th Annual Conference of Public Economic Theory
Association Conference (PET 15)
Luxembourg, Luxembourg, July 2–4, 2015
Management, 2015
Casajus, André
Casajus, André; Hüttner, Frank
2nd Workshop on Cooperative Game Theory in
Business Practice
Leipzig, Germany, June 18–19, 2015
Potential, value, and the multilinear extension
Management, 2015
Casajus, André; Wiese, Harald
Scarcity, competition, and value
Management, 2015
Casajus, André
Fair redistribution of performance-based allocations:
a case for proportional taxation
Management, 2014
Potential, voting, and power
Axiomatic characterizations under players
nullification
2nd Workshop on Cooperative Game Theory in
Business Practice
Ferrières, Sylvain
Linear anonymous solutions for cooperative games
with externalities
International Workshop on Game Theory and
Economic Applications of the Game Theory Society
São Paulo, Brazil, July 25–31, 2014
Ferrières, Sylvain
Linear anonymous solutions for cooperative games
with externalities
Spain-Italy-Netherlands Meeting on Game Theory
(SING10)
Krakow, Poland, July 7–9, 2014
Ferrières, Sylvain
Hüttner, Frank
Potential, power, and voting
East Asian Game Theory Conference 2015
(EAGT2015)
Tokyo, Japan, August 24–26, 2015
Hüttner, Frank
Potential, power, and voting
The 26th International Conference on Game Theory
Stony Brook, USA, July 20–24, 2015
Casajus, André
Monotonic redistribution of performance-based
allocations: a case for proportional taxation
Hüttner, Frank
Casajus, André
Hüttner, Frank
20 Coalition Theory Network Workshop
Venice, Italy, March 19–20, 2015
International Workshop on Game Theory and
Economic Applications of the Game Theory Society
São Paulo, Brazil, July 25–31, 2014
Internal Micro Brown Bag Reading Group (IMBRG),
University of Dortmund
Dortmund, Germany, May 28, 2015
th
14th SAET Conference on Current Trends in
Economics
Tokyo, Japan, August 19–21, 2014
Casajus, André
Hüttner, Frank
Casajus, André
(SING10)
79th International Atlantic Economic Conference
Milano, Italy, March 11–14, 2015
Casajus, André; Hüttner, Frank
Weekly monotonic solutions for cooperative games
Ferrières, Sylvain
Liability Situations with Joint Tortfeasors
Management, 2014
The Herfindahl-Shapley power index
OSGAD Seminar, University of Paris I
Paris, France, November 7, 2014
Schweinitz, Andreas
Casajus, André, Labrenz, Helfried
Casajus, André
12th International Conference on the European
Energy Market
Lisbon, Portugal, May 19–22, 2015
A property rights based consolidations approach
Management, 2014
Weak monotonicity, proportional taxation,
and the egalitarian Shapley values
(SING10)
Casajus, André; Steger, Thomas; Wiese, Harald
Solow meets Shapley
Casajus, André
Management, 2014
A property rights based consolidation approach
Casajus, André (with Helfried Labrenz)
Association
Tallin, Estonia, May 21–23
Team decision problems with classical and q
uantum
signals
HHL Leipzig Graduate School of Management
Leipzig, Germany, June 25, 2015
La mura, pierfrancesco
Entangled preferences
Amsterdam Quantum Logic Workshop
Amsterdam, The Netherlands, May 7–8, 2015
Team decision with classical and quantum signals
Amsterdam Quantum Logic Workshop
Amsterdam, The Netherlands, November 24–26,
2014
Assessing chronological data from textual
information
NYU Stern School of Business
New York, USA, October 24, 2014
VHB Conference, Faculty of Economics and
Business Administration, University of Leipzig
A property rights based consolidation approach
How to avoid black and brown outs during
Energiewende?
CHAIR OF
MICROECONOMICS
Journal Article
Wuttke, Martina; Vilks, Arnis
Poverty alleviation through CSR in the Indian
construction industry
In: Journal of Management Development, 33 (2014)
2, 119–130
Casajus, André
On replicator dynamics derived from TU games
Seminar in Economic Theory, University Lille 3
Lille, France, May 6, 2014
Doctoral Theses
Casajus, André
Boltyenkow, Artem
Colloquium in Economics, University of Dortmund
Dortmund, Germany, January 28, 2014
A healthcare economic policy for hearing impairment
Casajus, André
Towards an evolutionary cooperative game theory.
Seminar GATE, Université de St. Etienne
St. Etienne, France, February 20, 2014
Burgmann, Timo Daniel
Management-Ausbildung in China
Hamburg: Kovac, 2015
Schäfer, Dominik
Conference Presentation
Management, 2016 (forthcoming)
Jaeckel, Liv
Development aid: a perspective on the World Bank
performance
Schmalhofer, Christina
Is FDI good for the poor? Let’s ask the poor: how
Indonesia’s poor view foreign firm employment
Management, 2015
Setzer, Tobias
Das Base-of-the-Pyramid-Konzept und die
Ökonomische Ethik
Risiko und Katastrophe als Herausforderung für die
Verwaltung
Conference of the German Section of the
International Institute of Administrative Sciences
(IIAS), Bucerius Law School
Hamburg, Germany, November 19, 2015
von Eiff, Wilfried; Greitemann, Bernhard; Karoff,
Marthin (Eds.)
Rehabilitationsmanagement:
klinische und ökonomische Erfolgsfaktoren
Stuttgart: Kohlhammer, Stuttgart, 2014
von Eiff, Wilfried (Ed.)
Ethik und Ökonomie in der Medizin
Heidelberg: medhochzwei Verlag, 2014
von Eiff, Wilfried (Ed.)
CENTER FOR HEALTH
CARE MANAGEMENT AND
REGULATION
Thromboseprophylaxe: klinische und ökonomische
Effekte von Prophylaxestrümpfen
München, Springer Medizin, 2014
Book Chapters and Journal Articles
Management, 2015
Books
Augurzky, Boris, Beivers, Andreas
Reichwald, Ralf; von Eiff, Wilfried (Eds.)
Stechow, Conrad von
care management
In: Klauber, Jürgen et. al (Eds.): Krankenhaus-Report
2016, Schwerpunkt: Ambulant im Krankenhaus.
Stuttgart: Schattauer, 2016 (forthcoming)
Wertsteigerung in Private-Equity-Transaktions
verhandlungen: ein Modell zur Identifizierung
wertsteigernder Verhandlungsergebnisse
Management, 2014
Beivers, Andras; Augurzky, Boris; Straub, Niels
Conference Presentation
Beivers, Andreas; Augurzky, Boris; Straub, Niels;
Veltkamp, Caroline
Vilks, Arnis
The inverse invisible hand and heuristics in
managerial decision-making
Philosophy of Management Conference 2015
St Anne’s College, Oxford University, July 9–12, 2015
Mit Helikopter und Telemedizin:
für eine Notfallversorgung der Zukunft
Essen: Rheinisch-Westfälisches Institut für
Wirtschaftsforschung (RWI), 2015
Krankenhausplanung 2.0:
Endbericht zum F
orschungsvorhaben des Verbandes
der Ersatzkassen e. V. (vdek)
Essen: Rheinisch-Westfälisches Institut für
Wirtschaftsforschung (RWI), 2015
Jaeckel, Liv (Ed.)
Die Diversität der Biodiversität: rechtliche und
sozioökonomische Auseinandersetzungen mit einem
globalen Thema
Tübingen: Mohr Siebeck 2015
Jaeckel, Liv; Zabel, Benno; Zimmermann,
Ralph (Eds.)
Grundrechtspolitik und Rechtswissenschaft: Beiträge
aus Anlass des 70. Geburtstags von Helmut Goerlich
Helmut Goerlich – Zur zugewandten Säkularität:
Beiträge auf dem Weg dahin – Ausgewählte Schriften
In: Klauber, Jürgen et. al (Eds.): Krankenhaus-Report
2015, Schwerpunkt: Strukturwandel. Stuttgart:
Schattauer, 2015, 77–98
Augurzky, Boris; Beivers, Andreas
Rettung für die Notfallmedizin
In: Gesundheit und Gesellschaft, 18 (2015) 10, 23–27
Augurzky, Boris; Beivers, Andreas
Grundlagen einer erreichbarkeitsorientierten
Versorgungsplanung
Stuttgart: Kohlhammer, 2014
Beivers, Andreas
Hellmann, Wolfgang, Beivers, Andreas, Radtke,
Christine, Wichelhaus, Daniel
In: GesundheitsWirtschaft, 9 (2015) 3, 38–39
Heidelberg: medhochzwei Verlag, Heidelberg, 2014
Jaeckel, Liv (Ed.)
Die Diversität der Biodiversität: Rechtliche und
sozioökonomische Auseinandersetzungen mit einem
globalen Thema
Jaeckel, Liv; Zabel, Benno; Zimmermann, Ralph
(Eds.)
Grundrechtspolitik und Rechtswissenschaft:
Beiträge aus Anlass des 70. Geburtstags von
Helmut Goerlich
Je nach Bedarf
Beivers, Andreas
Hereinspaziert: Kultur- und Migrationssensibilität
deutscher Krankenhäuser:
Eine gesundheitsökonomische Betrachtung
In: führen und wirtschaften, 32 (2015) Oktober,
801–803
Beivers, Andreas
Das Gesundheitssystem in der Demografie-Falle:
Ausgaben und Steuerungsprobleme sowie die neue
Rolle der Patienten
In: Strahlendorf, Peter (Ed.). Jahrbuch Healthcare
Marketing 2014. Hamburg: New Business Verlag,
2014, 50–53
Jaeckel, Liv; Kotzur, Markus; Zimmermann, Ralph
(Eds.)
Organisation der Notfallversorgung in Dänemark:
Lösungsansätze für deutsche Probleme?
In: Gesundheits- und Sozialpolitik, 68 (2014) 4/5,
33–41
Krankenhausmanagement für Leitende Ärzte
Books
Augurzky, Boris, Beivers, Andreas; Giebner,
Matthias; Kirstein, Alexander
Kurscheid, Clarissa; Beivers, Andreas
Lehrbuch Gesundheits- und Sozialpolitik
CHAIR OF LAW OF ECONOMIC
REGULATION
Bedarfsgerechtigkeit zur Vermeidung von Über-,
Unter und Fehlversorgung im Krankenhaussektor
Beivers, Andreas; Augurzky, Boris
Jaeckel, Liv; Kotzur, Markus; Zimmermann, Ralph
(Eds.):
Helmut Goerlich – Zur zugewandten Säkularität:
Beiträge auf dem Weg dahin – Ausgewählte Schriften
Berlin: Duncker & Humblot 2014
Krankenhausprivatisierung in Deutschland und ihre
Effekte
In: Klauber, Jürgen; Geraedts, Max; Friedrich,
Jörg (Eds.). Krankenhaus-Report 2014. Stuttgart:
Schatthauer, 2014, 207–225
Berlin: Duncker & Humlot 2014
Book Chapters
Jaeckel, Liv
Die Erhaltung der natürlichen Lebensgrundlagen als
globales öffentliches Gut: eine Untersuchung anhand
der UN-Konventionen zur Biodiversität und zum
Klimawandel
In: Liv Jaeckel (Ed.), Die Diversität der Biodiversität.
Rechtliche und sozioökonomische Auseinandersetzungen mit einem globalen Thema. Tübingen: Mohr
Siebeck, 2015, 75–100
Jaeckel, Liv
The impact of regulation on change
Andreas; Reichwald, Ralf (Eds.), Management of
Permanent Change, Wiesbaden: Springer Gabler,
2015, 161–173
von Eiff, Wilfried; Dodt, Christoph; Brachmann,
Matthias; Niehues, Christopher; Fleischmann,
Thomas (Eds.)
Management der Notaufnahme:
Patientenorientierung und optimale
Ressourcennutzung als s trategischer Erfolgsfaktor
Stuttgart: Kohlhammer, 2016 (forthcoming)
Buttigieg, Sandra C.; Rathert, Cheryl; von Eiff,
Wilfried (Eds.)
International Practices in Health Care Management
(Advances in Health Care Management; 17)
Bradford: Emerald, 2015
Diemer, Matthias; Taube, Christian; Ansorg, Jörg;
Heberer, Jörg; von Eiff, Wilfried (Eds.)
Handbuch OP-Management: Strategien, Konzepte,
Methoden.
Berlin: Medizinisch Wissenschaftliche Verlagsges.,
2015
Beivers, Andreas; Dodt, Christoph
Ökonomische Aspekte der ländlichen
Notfallversorgung
In: Notfall + Rettungsmedizin, 17 (2014) 3, 190–198
Beivers, Andreas; Penter, Volker
Gesundheitsökonomische Betrachtung des
Koalitionsvertrages
In: KU Gesundheitsmanagement, 83 (2014) 3, 14–16
Beivers, Andreas; Waehlert, Lilia
Wege finden: Agenda für die nächste
Krankenhausreform
In: Führen und Wirtschaften im Krankenhaus: f&w,
31 (2014) 4, 358–360
Beivers, Andreas; Waehlert, Lilia
Einiges zu tun: Agenda für die nächste
Krankenhausreform
In: Führen und Wirtschaften im Krankenhaus: f&w,
31 (2014) 3, 248–351
PUBLICATIONS 73
Jaeckel, Liv
Die Erhaltung der natürlichen Lebensgrundlagen als
globales öffentliches Gut: eine Untersuchung anhand
der UN-Konventionen zur Biodiversität und zum
Klimawandel
In: Liv Jaeckel (Hrsg.), Die Diversität der
Biodiversität. Rechtliche und sozioökonomische
Auseinandersetzungen mit einem globalen Thema.
Tübingen: Mohr Siebeck, 2015, 75–100
Jaeckel, Liv
The impact of regulation on change
Andreas; Reichwald, Ralf (Eds.), Management of
Permanent Change, Wiesbaden: Springer Gabler,
2015, 161–173
von Eiff, Wilfried
Network management: strategic option for the
boundaryless hospital
Andreas; Reichwald, Ralf; von Eiff, Wilfried
care management
Berlin: Springer, 2016, 3–20
von Eiff, Wilfried; von Eiff, Maximilian C.
Role and function of the emergency department in a
boundaryless hospital: optimizing the process flow
von Eiff, Wilfried; Stachel, Kerstin
Personalmanagement im Krankenhaus
von Eiff, Wilfried; Mennigen, Rudolf; Senniger,
Norbert
von Eiff, Wilfried
In: von Eiff, Wilfried (Ed.) Ethik und Ökonomie
in der Medizin. Heidelberg: Medhochzwei, 2014,
145–161
In: Diemer, Matthias et al. (Eds.): Handbuch OPManagement. Berlin: Medizinisch Wissenschaft
liche Verlagsges., 2015, 107–127
Leistungssteuerung durch Z
ielvereinbarungen:
ethische und ökonomische Grenzen im
Medizinbetrieb
von Eiff, Wilfried
Prozesse, Methoden und Instrumente des klinischen
Risikomanagements
Ethisches Bewusstsein und Fehler in der Chirurgie:
Wie weit geht die Fehlertoleranz?
von Eiff, Wilfried
Geschäftsethik und Corporate Compliance
199–210
von Eiff, Wilfried
Beschaffungsmanagement und ethisches Handeln:
Patientenorientierung und Nachhaltigkeit im
Krankenhaus-Einkauf
229–241
von Eiff, Wilfried; Schüring, Stefan,
Medizinische Rehabilitation: Merkmale, Ziele und
Aufgaben
In: von Eiff, Wilfried; Greitemann, Bernhard; Karoff,
Marthin (Eds.), Rehabilitationsmanagement.
Stuttgart: Kohlhammer, 2014, 17–32
von Eiff, Wilfried
Magnetkrankenhäuser. Magnetphilosophie schafft
Qualität und Zufriedenheit
In: Health & Care Management, 5 (2014) 1/2, 40–43
von Eiff, Wilfried
von Eiff, Wilfried; Schüring, Stefan,
Andreas; Reichwald, Ralf; von Eiff, Wilfried (Eds.)
care management
Berlin: Springer, 2016, 211–234
REDIA-Studie: Anlass, Forschungsfragen und
Ergebnisse
von Eiff, Wilfried
von Eiff, Wilfried
In: von Eiff, Wilfried; Greitemann, Bernhard; Karoff,
Marthin (Eds.), Rehabilitationsmanagement.
Das Magnetprogramm hat die Pflege revolutioniert
(Interview mit Shirley Righi)
In: Health & Care Management, 5 (2014) 3, 48–50
von Eiff, Wilfried
Investition und Finanzierung: strategisch zum Ziel
International benchmarking and best practice
management: in search of health care and hospital
excellence
In: Buttigieg, Sandra C.; Rathert, Cheryl; Eiff,
Wilfried von (Eds.). International best practices in
health care management. Bradford: Emerald, 2015,
223–252
von Eiff, Wilfried; Buttigieg, Sandra; Farrugia,
Patrick; von Eiff, Maximilian C.
Process optimization in the emergency department
by the use of Point-of-Care-Testing (POCT) in
life-threating conditions: comparative best practice
examples from Germany and Malta
In: Buttigieg, Sandra C.; Rathert, Cheryl; Eiff,
Wilfried von (Eds.). International best practices in
health care management. Bradford: Emerald, 2015,
195–219
Personalmanagement und Personalmarketing
von Eiff, Wilfried
In: von Eiff, Wilfried; Greitemann, Bernhard;
Karoff, Marthin (Eds.), Rehabilitationsmanagement.
M+A-Strategien auf dem Prüfstand: Shareholder
Value vor dem Aus?
von Eiff, Wilfried; Schüring, Stefan, Haking Dennis
von Eiff, Wilfried
Grundlagen im betrieblichen Rechnungswesen von
Rehabilitationseinrichtungen
In: Health & Care Management, 5 (2014) 4, 14
Im Interview: Neue Studie: Arbeitsplatz Krankenhaus
In: Ärztin, 61 (2014) 4, 8–9
von Eiff, Wilfried
von Eiff, Wilfried
Investition und Finanzierung von Reha-Kliniken
Rationierung und Priorisierung: Nachfragesteuerung
im Gesundheitssystem
von Eiff, Wilfried
Zielvereinbarungen und Bonizahlungen (Teil 1):
erfolgreich Führen mit ethischer Verantwortung
In: Health & Care Management, 5 (2014), 7–8, 24–27
von Eiff, Wilfried
von Eiff, Wilfried
Beschaffungsmanagement: Supply Chain und
Category Management. So lassen sich Einkauf und
Logistik richtig einbinden
Strategisches Management – von der
Unternehmensstrategie zum Markenmanagement
In: Health & Care Management, 6 (2015) 1/2, 40–43
von Eiff, Wilfried
von Eiff, Wilfried
von Eiff, Wilfried
Innovative Produkte, Dienstleistungen und Prozesse:
ergonomisch und funktional: MUTLIdesk med
von Eiff, Wilfried
Klinische Textilien im OP: Einweg oder Mehrweg?
von Eiff, Wilfried
Digital Health, Big Data und 3-D-Druckertechnologie:
die Revolution der IT
Ökonomisierung der Medizin: Der Beitrag ethischer
Maximen zur bedarfsgerechten und wirtschaftlichen
Gestaltung des Medizinbetriebs
3D: Druck durch Radiologie
In: Radiologie Journal, (2015) 1, 27–29
von Eiff, Wilfried; Pinkwart, Andreas
von Eiff, Wilfried
Ziele einer medizinischen, ökonomischen und
ethischen Reflektion
In: von Eiff, Wilfried (Ed.) Ethik und Ökonomie in
der Medizin. Heidelberg: Medhochzwei, 2014, 3–35
von Eiff, Wilfried
Der Arzt als Manager: Controlling, Personalführung
und Organisation als Bestandteile des zukünftigen
Mediziner-Profils
von Eiff, Wilfried; Klemann, Ansgar; Haking,
Dennis; Niehues, Christopher
Investition und Finanzierung im Krankenhaus
von Eiff, Wilfried; Prangenberg, Alexander
Leistungs- und Kostenrechnung im
Krankenhausbetrieb
liche Verlagsges. 2015, 85–105
In: Health & Care Management, 5 (2014) 7/8, 66
von Eiff, Wilfried
Innovative Produkte, Dienstleistungen und Prozesse:
Mehr Effizienz durch Siebreorganisation
Grundlegende Veränderung im Gesundheitssystem
verlangt Umdenken: „Boundaryless Hospital“ in
verantwortlichen Versorgungsnetzwerken
von Eiff, Wilfried
Zielvereinbarungen und Bonizahlungen:
die ethische Dimension einbeziehen
von Eiff, Wilfried
MDK-Prüfung und Compliance-Management: MDKPrüfverfahren als Auslöser für ethische Reflektionen
von Eiff, Wilfried; von Eiff, Maximilian C.; Haking,
Dennis; Jansen, Daniel
von Eiff, Wilfried
In: von Eiff, Wilfried (Ed.) Thromboseprophylaxe.
München: SpringerMedizin, 2014, 13–50
Organspenderegelung: eine ökonomisch-ethische
Reflektion
Klinische und ökonomische Rationalität des Einsatzes
von Thromboseprophylaxestrümpfen
von Eiff, Wilfried
Corporate Compliance Management:
Korruption im Krankenhaus bekämpfen
In: Health&Care Management, 5 (2014) 11, 46–49
von Eiff, Wilfried
Zielvereinbarungen und Bonizahlungen: die ethische
Grenze ökonomisch-industrieller Instrumente zur
Leistungssteigerung
125–142
von Eiff, Wilfried
Corporate Compliance Management:
Korrumpierung unterbinden
von Eiff, Wilfried
Beivers, Andreas
Europäischer Gesundheitskongress in München
München, Germany, October 1, 2014
von Eiff, Wilfried
Beivers, Andreas
Wir sind ein Vermittler
(Interview mit Joseph M. Dudas)
Die ethische Dimension einbeziehen
Wirtschaftlichkeit der klinischen Notfallversorgung
Klassische Methoden: Versorgungssicherheit mit
Hausärzten und Spezialisten
von Eiff, Wilfried
Europäischer Gesundheitskongress
München, Germany, September 30, 2014
In: Health&Care Management, 5 (2014) 7/8, 24–27
Beivers, Andreas
Erfolgreich führen mit ethischer Verantwortung
von Eiff, Wilfried
Generation Y und die Feminisierung in der Medizin:
Merkmale und Konsequenzen des „War for Talent“ für
den Arbeitsplatz Krankenhaus
In: KU Gesundheitsmanagement, 83 (2014) 3, 67–69
von Eiff, Wilfried
Investition und Finanzierung: strategisch zum Ziel
Alzheimer, die vergessene Volkskrankheit? Diagnose
und Therapie heute – und in Zukunft (2020)
Europäischer Gesundheitskongress
Beivers, Andreas
Wohin führt die landes- und bundespolitische
Gesundheitspolitik die stationäre Versorgung?
Jahrestagung des Verbandes der Privatkliniken
Bad Berka/Weimar, Germany, September 3, 2014
von Eiff, Wilfried; Balling, Stephan
Beivers, Andreas
Wir können viel lernen
In: Gesundheitswirtschaft, (2014) 3, 4–9
Waehlert, Lilia, Beivers, Andreas; Auhuber,
Thomas C.
Ordnungspolitische Herausforderungen und Hand
lungsbedarfe für die Versorgungsstruktur und
Vergütung von Krankenhäusern: Ansatzpunkte zur
Verknüpfung von Qualität und Wirtschaftlichkeit
In: Mülheims, L. et al. (Eds.): Handbuch Sozialversicherungswissenschaft. Wiesbaden: Springer
Fachmedien, 455–469
von Eiff, Wilfried
Arbeitsplatz Krankenhaus: eine Studie zu den
Geschäftserwartungen von Institutionen der
Gesundheitswirtschaft
Münster: Centrum für Krankenhausmanagement
(Universität Münster), 2014
12. Nationales DRG-Forum
Berlin, Germany, March 14, 2014
Beivers, Andreas
Gut versorgt im Notfall
Der geo-demografische Wandel in der BRD:
Herausforderungen für die Sicherstellung der
flächendeckenden medizinischen Versorgung
Frühjahrstagung 2014 der Deutschen Gesellschaft
für Hämatologie und Medizinische Onkologie
Haking, Dennis
Der Koalitionsvertrag: Bedeutung für das
Infektions- und Hygienemanagement
IIR-Seminars Management der Notaufnahme
Vienna, Austria, September 16–17, 2014
Burden of disease: how MRSA cross-border networks
contribute to patient outcome, medical quality and
cost savings
CASiM Conference 2014 “Boundaryless Hospital:
Rethink and Redefine Health Care Management”
Risiko und Katastrophe als Herausforderung für die
Verwaltung
von Eiff, Wilfried
3. Bayerischer Tag der Telemedizin
Nürnberg, Germany, March 25, 2015
Beivers, Andreas
Geo-demografischer Wandel und die zukünftige
Rolle des Rettungsdienstes
14. Rettungsdienstsymposium des DRK Landes
verbandes Hessen e. V.
Hohenroda, Germany, November 3, 2014
Beivers, Andreas:
Situation und Zukunftsperspektiven der
Krankenhäuser: Optimierung unter schwierigen
Rahmenbedingungen
Jahrestagung der Gesundheitsregion Saar,
Saarbrücken, Germany, October 21, 2014
von Eiff, Wilfried
Klinische Textilien im OP der Zukunft
OP Management Kongress
Bremen, Germany, April 16, 2015
Managementphilosophie und Patientensicherheit
Jahrestagung Aktionsbündnis Patientensicherheit
Berlin, Germany, April 16–17, 2015
Clinical Quality and Risk Management
2. Industrial Conference Quality and its Perspectives, Care of the Woman and Child
Pardubice, Czech Republic, April 23, 2015
Governance, Management and Funding of German
Public Hospitals
DAAD Peer Expert Symposium
Cairo, Egypt, April 30, 2015
von Eiff, Wilfried
Der OP der Zukunft: der Einfluss klinischer Textilien
auf Arbeitsprozesse, Kosten und Qualität
med.logistica
Leipzig, Germany, May 7, 2015
Forum Spital 2015
Vienna, Austria, June 10–11, 2015
Conference of the German Section of the International Institute of Administrative Sciences (IIAS),
Bucerius Law School
Hamburg, Germany, November 19, 2015
Von der Idee zum Geschäftsmodell
Berlin, Germany, March 19–20, 2015
Haking, Dennis
Beivers, Andreas
Beivers, Andreas
Nutzenbewertung: Neuer Entscheidungsraum durch
das GKV-VSG
von Eiff, Wilfried
Jaeckel, Liv
58. Jahrestagung des VDK e. V.
Rostock/Warnemünde, Germany, April 17, 2015
von Eiff, Wilfried
1. Health Management Forum Münster
Münster, Germany, October 07, 2014
Hauptstadtkongress Medizin und Gesundheit 2015
Berlin, Germany, June 11, 2015
Gesellschaftliche Veränderungen und deren
Auswirkungen auf das Krankenhaus
von Eiff, Wilfried
Haking, Dennis
14. Europäischer Gesundheitskongress
Pay-for-Performance: Ein wirksamer Ansatz zur
Steigerung der Qualität und Wirtschaftlichkeit
medizinischer Leistungsprozesse
von Eiff, Wilfried
Notfallversorgung: Wie kann sie im Katalog
besser abgebildet werden? Weiterentwicklung der
Abschläge? Notfallzuschlag?
Beivers, Andreas
Krankenhausplanung der Zukunft auf Basis von
Bedarfsgerechtigkeit
von Eiff, Wilfried
Beivers, Andreas
15. Münchner AIDS- und Hepatitis-Tage
München, Germany, March 21, 2014
Krankenhausversorgung der Zukunft
Jahrestagung der Hanns-Seidel-Stiftung
Bad Staffelstein, Germany, November 30, 2015
3. Antibiotikaresistenz-Workshop
von Eiff, Wilfried
Herausforderung Infektion in der Zentralen
Notaufnahme: Strategien des Infektions- und
Hygienemanagements
Beivers, Andreas
Der Einfluss des Vergütungssystems auf den
Infektionsschutz
Kostenfaktor HIV: Belastung für das
Gesundheitssystem?
Beivers, Andreas
Others
von Eiff, Wilfried; Haking, Dennis
Zukunftsfeste Personalpolitik:
Neue Berufsbilder, Feminisierung und GenerationY
2. Health Management Forum Münster
Münster, Germany, February 05, 2015
Der effiziente und moderne OP – Trotz Kostendruck
ein innovativer OP?
von Eiff, Wilfried
Der multimorbide Patient als medizinische
und ö
konomische Herausforderung:
Versorgungsanforderungen, Versorgungsmodelle,
Versorgungsperspektiven
Forum Spital 2015
Vienna, Austria, June 10–11, 2015
von Eiff, Wilfried
Entscheidungskriterien für ein nachhaltiges
Beschaffungsmanagement
Hauptstadtkongress
Berlin, Germany, June 10–12, 2015
Living with age-related macular degeneration
(AMD) – The relatives’ role in the support of
AMD-patients: needs an burden (Poster)
European Health Management Association (EHMA)
Annual Conference
Breda, Netherlands, June 15–17, 2015
von Eiff, Wilfried
Cross-border services in medicine
Expert Meeting: Best Practices in Health Care
Barcelona, Spain, June 29, 2015
von Eiff, Wilfried
Trends im Personalmanagement
von Eiff, Wilfried
von Eiff, Wilfried
SBA Orthopaedics Update Meeting
Frankfurt, Germany, July 10, 2015
praxisforum personal & recht
Berlin, Germany, February 25, 2015
Das Magnet-Krankenhaus: Die Magnetphilosophie
und ihre Effekte auf Mitarbeiterzufriedenheit und
Patientensicherheit
praxisforum personal & recht
Berlin, Germany, February 25, 2015
Instrumentation management and process optimization in the theatre: medical and economic aspects
von Eiff, Wilfried
Prozessoptimierung in der Zentralen Notaufnahme:
Die Hebelwirkung von POCT-Technologien zur Erhöhung von Patientensicherheit und Kosteneffektivität
10. Jahrestagung der DGINA
Köln, Germany, September 03–05, 2015
PUBLICATIONS 75
von Eiff, Wilfried; Jansen, Daniel; von Eiff,
Maximilian C.; Haking, Dennis; Wehler, Markus
POCT in the emergency department: impact of POCT
technology on efficiency and effectiveness of the
treatment process
10. Jahrestagung der DGINA
Köln, Germany, September 03–05, 2015 (Poster)
European Congress on Emergency Medicine
(EuSEM)
Torino, Italy, October 11–14, 2015
von Eiff, Wilfried
Zukunftsfeste Personalpolitik: Neue Berufsbilder,
Feminisierung und Generation Y
Sonderveranstaltung: „Im Wandel – klassische
Berufsbilder im Gesundheitssektor“
Dortmund, Germany, September 22, 2015
von Eiff, Wilfried
Impuls: Beschaffungsmanagement
Deutsch-Niederländisches Symposium.
Optimierungspotenziale nutzen am Beispiel von
Telemedizin und Beschaffungsmanagement
Münster, Germany, September 23, 2015
von Eiff, Wilfried
von Eiff, Wilfried
7. Beschaffungskongress der Krankenhäuser
Berlin, Germany, December 02–03, 2015
Health Care and Hospital Management Congress
Wirtschaftliche Effekte und Akzeptanz von
innovativen Medizinprodukten: worauf Einkäufer bei
der Beschaffung achten müssen
von Eiff, Wilfried
9. Qualitätskongress Gesundheit
Berlin, Germany, December 04, 2015
European Health Management Association (EHMA)
Annual Conference,
Birmingham, UK, June 23–26, 2014
Ambulante spezialfachärztliche Versorgung: Ein
dritter Versorgungssektor oder ein Beitrag zur Integration von ambulanter und stationärer Versorgung?
DKB Zukunftsforum
Schloss & Gut Liebenberg, Germany, September
24–25, 2015
Corporate strategy and balanced scorecard
von Eiff, Wilfried
von Eiff, Wilfried
4. Handelsblatt Mensa Talk
International Best Practice and Hospital
Benchmarking Conference
Riyadh, Saudi Arabia, January 15, 2014
Wohin steuert die Gesundheitspolitik?
Konsequenzen für Krankenhäuser und Patienten
HHL Gesprächskreis Gesundheitswirtschaft
Leipzig, Germany, February 20, 2014
von Eiff, Wilfried
M&A-Trends: Die Strategien der großen Spieler und
ihre Konsequenzen
8. Rhein-Main-Zukunftskongress
Offenbach, Germany, February 20–21, 2014
von Eiff, Wilfried
von Eiff, Wilfried
Symposium Leitmarkt.Gesundheit.NRW
Münster, Germany, September 29, 2015
8. Rhein-Main-Zukunftskongress
Offenbach, Germany, February 20/21, 2014
Innovationsfeld: Hygiene – Wie kommen
Innovationen in den Medizinbetrieb?
Industrielles Re-Design im Krankenhaus:
Was man von der Industrie lernen kann
von Eiff, Wilfried
von Eiff, Wilfried
München, Germany, September 30– October 01, 2015
Die Produktauswahl-Entscheidung
„Was ist besser als ein niedriger Einkaufspreis?“
Qualität in der Beschaffung: Der Beitrag von
innovativen Dienstleistungen und Produkten
von Eiff, Wilfried
von Eiff, Wilfried
2. Kongress Christlicher Krankenhäuser in Mitteldeutschland
Schkeuditz, Germany, October 02, 2015
Fachforum MDK-Management – Rechnungs
prüfungen im Krankenhaus erfolgreicher mittels
Compliance Management
Düsseldorf, Germany, March 20, 2014
Patienten- und mitarbeiterorientierte Kranken
hausführung = christliche Unternehmenskultur
Compliance-Management-Systeme im Krankenhaus –
Grundlagen und Umsetzung
von Eiff, Wilfried
POCT in the emergency department: impact of POCT
technology on efficiency and effectiveness of the
treatment process
European Congress on Emergency Medicine
(EuSEM)
Torino, Italy, October 11–14, 2015
The importance of cross sectoral cooperation to
prevent infections and the spread of MRSA in health
facilities and the community (Poster)
von Eiff, Wilfried
von Eiff, Wilfried
Erfolgreiches Qualitätsmanagement im
Medizinbetrieb – Anspruch und Wirklichkeit
Trends in reimbursement and insurance:
new approaches and quality-driven business models
for hospitals
Pay-for-Performance: Ein wirksamer Ansatz zur
Steigerung von Qualität und Wirtschaftlichkeit
medizinischer Leistungsprozesse
von Eiff, Wilfried
Billig vs. Wirtschaftlichkeit bei der Beschaffung
von Medikalprodukten
6. BVBG-Veranstaltung
Berlin, Germany, July 11, 2014
von Eiff, Wilfried
Entlassungs- und Überleitungsmanagement:
Medizinischer und ökonomischer Erfolgsfaktor
Der Demografie Kongress
Berlin, Germany, September 04–05 ,2014
von Eiff, Wilfried
Management einer Notaufnahme:
Herausforderung für das gesamte Krankenhaus
IIR Conference Management der Notaufnahme
Wien, Austria, September 16–17, 2014
von Eiff, Wilfried
Der wirtschaftliche Erfolg der Reise: Trends, Chancen,
Risiken des IT-Managements im Gesundheitswesen
VISUS IT-Symposium
Recklinghausen, Germany, September 19, 2014
von Eiff, Wilfried
Wirtschaftlich entscheiden und ethisch handeln
von Eiff, Wilfried
von Eiff, Wilfried
Akut-Reha, Pflege, Nachsorge: Ein 10-Punkte-
Programm zur Behebung struktureller Defizite
Gesundheitskongress des Westens
Köln, Germany, April 02–03, 2014
Zusammenarbeit Krankenhaus und I ndustrie:
Auf dem Weg zu einem ganzheitlichen
Beschaffungsmanagement
15. P.E.G.-Fachtagung Gesundheitswirtschaft im
Wandel
von Eiff, Wilfried
von Eiff, Wilfried
Innovationstreiber und Innovationshindernisse:
Warum es Innovationen schwer haben, zur
Anwendung zu kommen
Ganzheitliches Beschaffungsmanagement
Symposium Krankenhaus-Management
München, Germany, April 10, 2014
IFGS – Innovationsforum Gesundheit und Soziales
für Vordenker
Essen, Germany, October 22, 2015
von Eiff, Wilfried
von Eiff, Wilfried
Beschaffung im Krankenhaus
Köln, Germany, May 15, 2014
Compliance Management als Instrument der
Krankenhausführung
Münsteraner Tage zum Medizinrecht
Handorf/Münster, Germany, October 29–30, 2015
von Eiff, Wilfried
Qualität und Sicherheit im Spannungsfeld von
High-Tech und Low-Cost: Droht im Gesundheitswesen
ein Lopez-Effekt?
Qualitäts- und Sicherheitsinitiative Endoprothetik
Frankfurt, Germany, November 05–06, 2015
von Eiff, Wilfried
Das Campus-Modell: Ein innovativer
Versorgungsansatz für Akut- und Reha-Medizin
17. Münchener Reha-Kongress
München, Germany, November 19–20, 2015
von Eiff, Wilfried
Benchmarking und best practice management
IIR Conference: Benchmarking in und zwischen
Krankenanstalten: Auf der Suche nach der besten
Praxis
Vienna, Austria, November 25–26
Ganzheitliches Beschaffungsmanagement:
Medizinische, ethische und wirtschaftliche Aspekte
harmonisieren
von Eiff, Wilfried
Risikobereich Einkauf: Wie die medizinisch bedingte
Qualität durch preisorientierten Einkauf gefährdet
wird
Krankenhausmanagement 2014:
Risikomanagement im Krankenhaus
Köln, Germany, May 20, 2014
von Eiff, Wilfried
Developing leadership in hospital management:
in search of best practices
HOPE congress
Amsterdam, the Netherlands, May 27–28, 2014
von Eiff, Wilfried
Efficiency and quality management: how people and
innovative products leverage clinical processes
CASiM Conference 2014
von Eiff, Wilfried
Trends und Herausforderungen für das
Krankenhaus-Management: Einflüsse durch Big Data,
Digital Health, Pay-for-Performance und die Dynamik
auf dem M&A-Markt
MEDICA,
Düsseldorf, Germany, November 13, 2014
von Eiff, Wilfried
Gestaltungsfeld Produktqualität – Risiko,
Prozessoptimierung, Finanzierung: Der neue
Kompass für das Beschaffungsmanagement
MEDICA,
Düsseldorf, Germany, November 13, 2014
von Eiff, Wilfried
Faktor Qualität bei Auswahl und Einsatz von
Medizinprodukten
Interdisziplinärer WundCongress
Bremen, Germany, November 17, 2014
von Eiff, Wilfried
Bedeutung klinischer Textilien im OP der Zukunft:
klinische, Patienten bezogene und ökonomische
Aspekte
6. Beschaffungskongress der Krankenhäuser
Berlin, Germany, December 04, 2014
ACADEMIC GROUP
Sustainability and
Competitiveness
HEINZ NIXDORF CHAIR OF
IT-BASED LOGISTICS
Book
Doctoral Theses
Suchanek, Andreas
Lee, Yong
In: Kaal, W. A.; Schmidt, M.; Schwartze, A. (Eds.):
Festschrift zu Ehren von Christian Kirchner,
Tübingen: Mohr Siebeck, 2014, 1337–1352
Wertstromdesign als Instrument der wertorientierten
Unternehmensführung
Management, 2014
Porzig, Nicole
Management von Nachhaltigkeit in
Supply-Chain-Netzwerken
Management, 2014
Hausladen, Iris
IT-gestützte Logistik: Systeme – Prozesse –
Anwendungen. 2. rev. ed.
Hausladen, Iris; Lichtenberg, Andrej; Haas,
Alexander
Supply chain design in e-mobility supply chain
networks
In: Proff, Heike (Ed.). Entscheidungen beim
Übergang in die Elektromobilität. Wiesbaden:
Springer Gabler, 2015, 383–408
Schönherr, Michael
Wertorientiertes Logistikmanagement:
Modell zur Bewertung logistischer Maßnahmen aus
Sicht des Unternehmenswerts
Wiesbaden: Springer Gabler, 2016 (forthcoming)
Hausladen, Iris; Haas, Alexander
Joint modeling of data flows and supply chains:
approach compilation and model development
27th NOFOMA
Molde, Norway, June 4–5, 2015
Unternehmensverantwortung: ein individual- oder
ordnungsethisches Thema?
Suchanek, Andreas
Alltagstaugliche Unternehmensethik
In: Friesen, H.; Wolf, M. (Eds.). Ökonomische
Moral oder moralische Ökonomie? Positionen zu
den Grundlagen der Wirtschaftsethik. Freiburg/
München: Verlag Karl Alber, 2014, 192–210
Suchanek, Andreas
Freiheit und Vertrauen: Unternehmensverantwortung
in einer offenen Gesellschaft
In: Hüther, M. et al (Eds.): Unternehmen im
öffentlichen Raum: Zwischen Markt und
Mitverantwortung, Berlin: Springer, 2014, 251–264
Suchanek, Andreas
Ethik in der Wirtschaft
In: Arbeit und Arbeitsrecht: AUA, 69 (2014) 5, 257
Suchanek, Andreas
In Vertrauen investieren
In: Wirtschaftspsychologie aktuell (2014) 4, 25–28
Suchanek, Andreas; Kleinau, Christina
Trust is an asset
In: Financial World: Journal of ifs University
College, 2014 (August/September), 23–27
Kleinau, Christina; Lin-Hi, Nick
Hausladen, Iris; Haas, Alexanders
In: Segetlija, Zdenko et. al. (Eds.). Business logistics
in modern management: proceedings of the
14th International Scientific Conference ; October 16,
2014. Osijek: Univ. of Osijek, Faculty of Economics,
2014, 97–108
14th International Scientific Conference “Business
Logistics in Modern Management”
Osijek, Croatia, October 16, 2014
A joint maturity model of BI-driven supply chains
Hausladen, Iris
Design for Logistics im Health-Care-Sektor – oder die
Quadratur der Triple Helix
In: Management + Innovation, (2014) 2, 40–47
A joint maturity model of BI-driven supply chains
Dachsel, Beatrice; Hausladen, Iris; Haas, Alexander;
Rakovska, Miroslava
Supply chain stress: analysis of influences
and impacts
ERS Research Seminar
Kopenhagen, Denmark, April 23–24, 2015
Does agricultural commodity speculation contribute
to sustainable development?
In: Corporate Governance, 14 (2014) 5, 685–698
Suchanek, Andreas
Moralisches Urteilsvermögen
Discussion Paper 2014-01
Wittenberg: Wittenberg Center for Global Ethics,
2014
An der Schnittstelle zwischen Logistik und IT
In: Netzwerknachrichten: Magazin der Region
Leipzig, Halle, Mitteldeutschland, 30 (2014) 2, 28–29
DR. WERNER JACKSTÄDT
CHAIR OF ECONOMIC AND
BUSINESS ETHICS
Hausladen, Iris: Lichtenberg, Andrej
Sollkonzept für integrierte holzbasierte Kaskaden:
Entwicklung eines Anlaufmanagements;
Projektbericht im Rahmen der wissenschaftlichen
Begleitforschung für den Spitzencluster BioEconomy
Mitteldeutschland
Management, Chair of IT-based Logistics, 2015
Management, 2015
Book
Suchanek, Andreas
Unternehmensethik: in Vertrauen investieren
Tübingen: Mohr Siebeck, 2015
Suchanek, Andreas; Böldicke, Elisa Maria
Die Rolle der Wirtschaftsethik bei der
Korruptionsbekämpfung
In: Jung, S.; Friedrichs, S.; Armbruster, A. (Eds.):
Antikorruption und Leadership, Göttingen:
Vandenhoeck und Ruprecht, 2016 (forthcoming)
Hausladen, Iris
Interdependenz und Ambivalenz des Nachhaltigkeits
paradigmas im Kontext IT-gestützter Logistik
Management, 2014
Lichtenberg, Andrej; Hagedorn, Anja; Rudolph,
Katja
Clusterprozesse in der Bioökonomie: eine
Bestandsaufnahme in den Bereichen Logistik- und
Supply Chain Management, Innovations-, Marketing
und Clustermanagement von ausgewählten
Bioökonomie-Clustern
Management, 2015
Vereinbarkeit von Familie und Beruf in Deutschland:
Vorbildrolle von Führungskräften in der Wirtschaft
In: A. T. Kearney 361°, January 23, 2014
Kleinau, Christina
Hausladen, Iris; Dachsel, Beatrice; Haas, Alexander
Trends and potentials of city logistics concepts in the
age of e-commerce from a sustainability perspective
Suchanek, Andreas; Kokott, Dietmar
Ethics in finance: applying ethical theory to guide
decisions and analysis in finance
SSRN, 2014
Kleinau, Christina, Christian W. Kretzmann,
Henning Zülch
The pursuit of malevolence: minimizing corporate
social irresponsibility to maximize social welfare
SSRN, 2014
Doctoral Theses
Bockel, Alicia
The Golden Rule in sports: investing in the conditions
of cooperation for a mutual advantage in sports
competitions
Suchanek, Andreas
Wiesbaden: Springer Fachmedien 2014
In: Van Aaken, Dominik; Schreck, Philipp (Eds.):
Theorien der Wirtschafts- und Unternehmensethik.
Berlin: Suhrkamp, 2015, 50–75
Burkhardt, Anne
Ökonomische Unternehmensethik
Suchanek, Andreas
Hintergrundinformationen zur ökonomischen
Unternehmensethik
Vertrauen und Globale Chartas: Eine Sicht der
ökonomischen Ethik
Leipzig: HHL Leipzig School of Management, 2015
In: Van Aaken, Dominik; Schreck, Philipp (Eds.):
Theorien der Wirtschafts- und Unternehmensethik.
Berlin: Suhrkamp, 2015, 76–78
Hölker, Guido
Suchanek, Andreas
Wiesbaden: Springer VS, 2015
Vertrauenswürdigkeit
In: Günther, E.; Ruter, R. X. (Eds.): Grundsätze
nachhaltiger Unternehmensführung: Erfolg durch
verantwortungsvolles Management, Berlin: Erich
Schmidt Verlag, 2015, 89–95
Kommunikative Führungsethik
PUBLICATIONS 77
Kerner, Dominic
The politics of subjective well-being:
a critique on the theory of economic ethics
Marburg: Metropolis, 2016 (forthcoming)
Kleinau, Christina
18 International Symposium for Ethics, Business
and Society, IESE Business School
Barcelona, Spain, July 1, 2014
Althammer, Wilhelm; Hille, Erik
Ethics in Finance
th
Kleinau, Christina, Kretzmann, Christian
Kleinau, Christina
Ethics in finance: integrating ethics into analysis and
decision-making in a financial context
Berlin: wvb, 2015
The pursuit of malevolence: Minimizing Corporate
Social Irresponsibility to maximize social welfare
18th International Symposium for Ethics, Business
and Society, IESE Business School
Barcelona, Spain, July 1, 2014
Lampe, Monique
Die Operationalisierung von U
nternehmensleitbildern
als wirtschaftsethische Herausforderung für
Führungskräfte
Management, 2015
CHAIR OF
MACROECONOMICS
Journal Articles
Hossfeld, Oliver; MacDonald, Ronald
Carry funding and safe haven currencies:
a threshold regression approach
In: Journal of International Money and Finance, 59
(2015) December, 185–202
Hossfeld, Oliver; Fischer, Christoph
Suchanek, Andreas
Die Sustainable Development Goals (SDG):
Politikvorgabe oder regulative Idee
Business Ethics Summit of DNWE (German
Network of Business Ethics)
Frankfurt am Main, Germany, October 2, 2015
A consistent set of multilateral productivity
approach-based indicators of price competitiveness:
results for Pacific Rim economies
In: Journal of International Money and Finance, 49,
Part A (2014) December, 152–169
Suchanek, Andreas
Treatment of elderly patients:
a viewpoint of business ethics
Workshop “Treatment of Elderly Patients: The
Challenge of the Future”, Martin-Luther University
Halle-Wittenberg
Halle, Germany, September 27, 2015
Suchanek, Andreas
Unternehmensethik, Verantwortung, Vertrauen –
und die Wirklichkeit
Ministry of Trade and Industry Rhineland-
Palatinate, Business Talks Series
Mainz, Germany, April 27, 2015
Suchanek, Andreas
Solidarity in health care
Berlin Demography Forum
Measuring climate policy stringency:
a shadow price approach using energy prices
HHL Working Paper 123, revised March 2015
Management, 2013
Althammer, Wilhelm; Siegert, Georg
option concepts in a finance framework
Series “Ethics and economics”, Kiel Center for
Philosophy, Politics and Economics
Kiel, Germany, January 14, 2015
Workshop „Chancen und Grenzen von Wirtschaftsund Unternehmensethik“, FNK (Research Unit
Sustainability and Climate Policy) and FIPH
(Research Institute of Philosophy Hanover)
Hannover, Germany, July 11, 2014
Suchanek, Andreas
Ökonomisierung im Gesundheitswesen
aus Sicht des Wirtschaftsethikers
Symposium Die Ökonomisierung der Medizin
Bremen, Germany, June 20, 2014
Suchanek, Andreas
Social market economy, social partnership,
and the Wittenberg Process
Annual European Business Ethics Network Meeting
Berlin, Germany, June 14, 2014
Suchanek, Andreas
Die Verantwortung des Unternehmers
Lecture series Unternehmertum, Martin-LutherUniversity Halle/Wittenberg
Halle, Germany, May 22, 2014
option concepts in a finance framework
21st Annual Conference European Association of
Environmental and Resource Economists
Helsinki, Finland, June 24–27, 2015
19th Annual International Real Options Conference
5th World Congress of Environmental and Resource
Economics
Istanbul, Turkey, June 28–July 2, 2014
Hille, Erik
2015 Annual Meeting of the German Economic
Association (Verein für Socialpolitik)
Münster, Germany, September 6–9, 2015
Hille, Erik
Pollution havens: international empirical evidence
using a shadow price measure of climate policy
stringency
2014 Annual Meeting of the German Economic
Association (Verein für Socialpolitik)
Hamburg, Germany, September 4–7, 2014
Economics
Hossfeld, Oliver
Annual Conference of the Canadian Economics
Association
Toronto, Canada, May 29–31, 2015
Hossfeld, Oliver
Hille, Erik
DIW Macroeconometric Workshop
Berlin, Germany, November 27–28, 2015
Pollution havens: international empirical evidence
using a shadow price measure of climate policy
stringency
HHL Working Paper 132, revised March 2015
Management, 2014
Hossfeld, Oliver; MacDonald, Ronald
Discussion Paper 34/2014
Frankfurt am Main: Deutsche Bundesbank, 2014
Suchanek, Andreas
Ökonomisch inspirierte Wirtschafts- und
Unternehmensethik
Althammer, Wilhelm; Siegert,Georg
Management, 2014
Suchanek, Andreas
In Vertrauen investieren
71st Annual Congress International Institute of
Public Finance
Dublin, Ireland, August 20–23, 2015
Schiel, Christian:
Moralisches Risikomanagement: Strategien zum
risikoorientierten Umgang mit Konflikten zwischen
Gewinn und Moral
Do speculative traders anticipate or follow USD/EUR
exchange rate movements? New evidence on the
efficiency of the EUR currency futures market
Hossfeld, Oliver
4th Workshop on Financial Determinants of
Exchange Rates
Amsterdam, Netherlands, December 17–18, 2014
Columbia-Tsinghua Conference in International
Economics
Beijing, China, June 23–25, 2014
Siegert, Georg
Hossfeld, Oliver; Fischer, Christoph
A consistent set of multilateral productivity
approach-based indicators of price competitiveness
ECB Working Paper No. 1706.
Frankfurt am Main: European Central Bank, 2014
Siegert, Georg; Althammer, Wilhelm, Kamann,
Carolin; Kretzinger, Lukas; Neumann, Manuel
Neumann; Scheuermann, Stefan; Gewandhaus zu
Leipzig
Die wirtschaftliche Bedeutung des Gewandhauses für
die Stadt Leipzig: Bericht zur Umwegrentabilität
Leipzig: Gewandhaus zu Leipzig, 2015
Doctoral Thesis
Pietrowiak, Annett
European payment instruments: institutional
determinants of an efficient POS payment mix
Management, 2014
Value and stability of biomass in feed-in tariff
systems: A real options approach
18th Annual Real Option Conference
Medellin, Columbia, July 23–26, 2014
Economics
SVI-ENDOWED CHAIR
OF MARKETING, ESP.
E-COMMERCE AND
CROSS-MEDIA MANAGEMENT
Book and Study
Meffert, Heribert; Kirchgeorg, Manfred; Kenning,
Peter
Sustainable Marketing Management:
Grundlagen und Cases
Kolano, Alexander
Geschäftsmodelle für Fachverlage in der
Weiterbildung: eine Analyse auf Basis berufs
begleitender Angebote in Deutschland
Wiesbaden: Springer Fachmedien, 2014
Manfred Kirchgeorg, Silko Pfeil, Petra Lewe
Das Arbeitgeberverhalten der Generation Y:
eine werteorientierte Analyse unter besonderer
Berücksichtigung des Sinns der Arbeit
Köln/Leipzig: Enactus e. V./SVI-Stiftungslehrstuhl
für Marketing, HHL Leipzig Graduate School of
Management, 2014
Working Papers
Beyer, Christina; Kirchgeorg, Manfred
Herausforderungen der digitalen Transformation für
die marktorientierte Führung
Arbeitspapier 224.
Leipzig: Wissenschaftliche Gesellschaft für
Marketing und Unternehmensführung, 2015
Nachhaltigkeits-Claims auf dem Prüfstand: eine
empirische Bestandsaufnahme zur Verständlichkeit
und Akzeptanz aus Verbrauchersicht
Arbeitspapier 221.
Sustainable Marketing bei zunehmenden
ökologischen Diskontinuitäten
Lichtenberg, Andrej; Hagedorn, Anja; Rudolph,
Katja
Koene, Merlin; Wagner, Katja; Buerke, Anja;
Kirchgeorg, Manfred
Management, 2015
Nachhaltigkeitsmarketing in der Konsumgüter
industrie am Beispiel der Unilever Deutschland GmbH
In: H. Meffert, P. Kenning, & M. Kirchgeorg (eds.),
Sustainable Marketing Management: Grundlagen
und Cases. Wiesbaden: Springer, 2014, 411–427
Pfeil, Silko; Lewe, Petra
Was ist dran am Mythos der Sinnsucher
In: Personalwirtschaft, (2014) 10, 24–26
Doctoral Theses
Ermer, Beatrice
Markenadäquate Gestaltung von Live
Communication-Instrumenten: Untersuchung der
Wahrnehmung und Wirkung von Messeständen
HHL Leipzig Graduate School of Management,
Diss., 2013
Hirmer, Annette-Louise
Familienunternehmen als Kategorienmarke:
eine stakeholderspezifische Analyse der
Markenwahrnehmung von Familienunternehmen
Diss., 2014
Ravens, Christina
Internal brand management in an international
context
Diss., 2012
Wiesbaden: Springer Fachmedien, 2014
Stahl, Barbara
Stakeholderorientierte Führung großer Stiftungen:
ein kausalanalytischer Erklärungsansatz der
Stiftungsperformance
Diss., 2014
Staufer, Isabel Maria
Akzeptanz ökologischer Produktinnovationen im
Automobilbereich: Wirkungen der Markenliebe
Diss., 2013
Weinrich, Kai
Nachhaltigkeit im Employer Branding:
eine verhaltenstheoretische Analyse und
Implikationen für die Markenführung
Diss., 2013
Wiesbaden: Springer Gabler 2014
Journal Article
Maier, Erik; Wilken, Robert; Dost, Florian
Buerke, Anja; Gaspar, Claudia
Kirchgeorg, Manfred
In: Meffert, Heribert; Kenning, Peter; Kirchgeorg,
Manfred (Eds.). Sustainable Marketing
Management. Wiesbaden: Springer Gabler, 2014
(ebook), 37–54
RETAIL AND MULTI-CHANNEL
MANAGEMENT
Clusterprozesse in der Bioökonomie:
eine Bestandsaufnahme in den Bereichen L
ogistikund Supply Chain Management, I nnovations-,
Marketing und Clustermanagement von
ausgewählten Bioökonomie-Clustern
Süß, Erich; Kirchgeorg Manfred
The consumer mobile app journey
Arbeitspapier 119
Buerke, Anja
Nachhaltigkeit und Consumer Confusion im Handel:
eine Untersuchung zur Shopper Experience am Point
of Sale am Beispiel des Lebensmitteleinzelhandels
Forschungstagung Marketing
Fribourg, Switzerland, September 13, 2014
The double benefits of consumer certainty:
combining risk and range effects
In: Marketing Letters, 26 (2015) 4, 473–488
ACADEMIC GROUP
Innovation and
Entrepreneurship
DEUTSCHE BANK
STIFTUNGSFONDS CHAIR OF
INNOVATION MANAGEMENT
AND ENTREPRENEURSHIP
Books
care management
Reichwald, Ralf
Management of permanent change
Buerke, Anja
Consumer confusion and sustainable consumption:
an empirical analysis of the impact of POS marketing
in food retailing.
EMAC Regional Doctoral Seminar
Katowice, Poland, September 24, 2014
Buerke, Anja; Gaspar, Claudia
Nachhaltig verstehen & nachhaltig werben:
Nachhaltigkeits-Claims auf dem Prüfstand
12. Jahrestagung der Akademischen Partnerschaft
Cologne, Germany, June 26, 2014
Buerke, Anja
Green claims: What do consumers actually
understand? A Survey!
61 SEPAWA Congress and European Detergents
Conference
Fulda, Germany, October 15–17
st
Buerke, Anja
Was versteht der Verbraucher unter Nachhaltigkeit:
eine Studie
Pinkwart, Andreas; Proksch, Dorian; Schefczyk,
Michael; Fiegler, Torsten; Ernst, Cornelia
Reasons for the failure of new technology-based
firms: a longitudinal empirical study for Germany
In: Credit and Capital Markets, 2016 (forthcoming)
Pinkwart, Andreas
Eugen Schmalenbach and the Leipzig School of
Commerce
In: Albach, Horst; Waragai, Tomoki (Eds.) Business
economics in Japan and Germany, München: Iudicium, 2015, 195–209
Pinkwart, Andreas
Digitalisierung ist eine Chance für die Business
Schools
In: FAZ (Wirtschaft), 16. März 2015 (63), 18
39. BDIH Kosmetik-Fachtagung
Mannheim, Germany, December 4, 2014
Pinkwart, Andreas; Weber, Eric
Peyer, Mathias; Seegebarth, Barbara; Buerke, Anja;
Balderjahn, Ingo; Kirchgeorg Manfred; Wiedmann,
Klaus-Peter
In: Franz, Otmar (Ed.). Innovationstreiber
Ressourceneffizienz: RKW-Kuratorium. Sternenfels:
Verl. Wissenschaft & Praxis, 2015, 18–31
Consciousness for sustainable consumption: Scale
development and new insights in the economic
dimension of consumers’ sustainability
AMA Winter Marketing Educators’ Conference
Orlando, FL, USA, February 21–23, 2014
Seegebarth, Barbara; Peyer, Mathias; Balderjahn,
Ingo; Wiedmann, Klaus-Peter; Buerke, Anja;
Kirchgeorg, Manfred
The sustainability roots of anti-consumption lifestyles
and their impact on consumers’ financial well-being
ICAR Symposium
Kiel, Germany, July 4–5, 2014
Steigerung der Ressourceneffizienz als Königsweg
nachhaltiger Wohlstandssicherung
Albach, Horst; Meffert, Heribert; Pinkwart,
Andreas; Reichwald, Ralf
Management of permanent change: new challenges
and opportunities for change management
2015, 3–21
Czinkota, Michael R.; Pinkwart, Andreas
Internationalization in marketing: from theory to
practice by means of a Delphi study
In: Thunderbird International Business Review, 56
(2014) 1, 5–10
PUBLICATIONS 79
Pinkwart, Andreas:
Doctoral Theses
In: Forschung & Lehre, 21 (2014) 1, 36–37
Abu El-Ella, Nagwan
Hochschulen zukunftsfest machen: erfolgreiche ausländische Absolventen sind die besten Botschafter
Pinkwart, Andreas; Abu El-Ella, Nagwan
Gemeinsam innoviert es sich besser
In: Garn, M.; Schleidt, D. (Eds.). Jahrbuch Innovation
2014: Innovationstreiber für Wirtschaft, Wissenschaft, Politik und Gesellschaft. Frankfurt am Main:
F.A.Z.-Institut, 42–45
Employee involvement in open innovation:
the role of new technologies, external employees and
trust issues
Management, 2015
Pinkwart, Andreas; Abu El-Ella, Nagwan
Proksch, Dorian
In: Kliewe, Thorsten; Kesting, Tobias (Eds.):
Moderne Konzepte des organisationalen Marketing.
Wiesbaden: Springer Fachmedien, 2014, 285–301
Management, 2015
Open innovation: new opportunities and challenges
for science-to-business collaboration
The development of German new technology-based
firms from a resource-based view
Pinkwart, Andreas; Proksch, Dorian
The internationalization behavior of German hightech start-ups: an empirical analysis of key resources
In: Thunderbird International Business Review, 56
(2014), 1, 43–53
Pinkwart, Andreas
Internationalisierung junger High-Tech-Unternehmen:
Chancen und Barrieren in Deutschland
In: Franz, Otmar (Ed.). Existenzgründung und
Existenzsicherung in Deutschland und inter
national. Sternenfels: Verlag Wissenschaft und
Praxis, 2014, 119–127
von Eiff, Wilfried; Pinkwart, Andreas
Grundlegende Veränderung im Gesundheitssystem
verlangt Umdenken: „Boundaryless Hospital“ in
verantwortlichen Versorgungsnetzwerken
Abu El-Ella, Nagwan; Bessant, John; Pinkwart,
Andreas
Revisiting the honorable merchant:
the reshaped role of trust in open innovation
In: Thunderbird International Business Review,
(2015), DOI 10.1002/tie.21774
Andreas
Changing change management:
the new innovation imperative
2015, 105–120
Hagedorn, Anja; Pinkwart, Andreas
The financing process of equity-based crowdfunding:
an empirical analysis
In: Brüntje, Dennis; Gajda, Oliver (Eds.).
Crowdfunding in Europe: state of the art in
theory and practice. Cham: Springer International
Publishing Switzerland, 2016, 71–85
Pinkwart, Andreas (Ed.)
Chair Report 2014: Stiftungsfonds Deutsche
Bank Chair of Innovation Management and
Entrepreneurship
Business economics in the twenty-first century: how
digitalization is shaping the role of business schools
Abu El-Ella, Nagwan; Pinkwart, Andreas
Examining the involvement of highly-qualified
external employees in innovation – from an
organizational perspective
14th European Academy of Management Conference
(EURAM)
Proksch, Dorian; Stranz, Wiebke; Pinkwart, Andreas
Risk management in venture capital funds:
the perspective of portfolio companies
3rd Annual Conference on Risk Governance,
University of Siegen
Siegen, Germany, October 14–15, 2015
Proksch, Dorian; Pinkwart, Andreas; Stranz, Wiebke
Risk management in venture capital companies:
the use of risk reducing measures for successful and
less successful German high-technology companies
Proksch, Dorian
International Council for Small Business World
Conference on Entrepreneurship 2014
Dublin, Ireland, June 11–14, 2014
18th Interdisciplinary annual conference on
Entrepreneurship, Innovation and SME, G-Forum
Oldenburg, Germany, November 13–14, 2014
Internationalisation of German high-tech SMEs:
Overcoming the main barriers.
Risk management in venture capital companies:
a portfolio perspective
Pinkwart, Andreas
Proksch, Dorian
American Institute for Contemporary Studies at
Johns Hopkins University
Washington DC, United States of America, May 5,
2014
Scientific Conference on Business Model Innovation
and Transformation of the Erich Gutenberg-
Arbeitsgemeinschaft Köln e. V.
Nuremberg, Germany, September 12, 2014
Transatlantic dialogue of the states, cities and
communities: How are state and local leaders
shaping the future workforce?
Main drivers for early business model innovation in
new technology-based firms: a longitudinal empirical
study
Pinkwart, Andreas
Stranz, Wiebke
American Marketing Association 2014 Conference
Cancun, Mexico, April 16–18, 2014
Doctoral Colloqium at the 19th interdisciplinary
annual Conference on Entrepreneurship,
Innovation and SME, G-Forum
The honorable merchant in international marketing
Internationalisation process of research-based
spin-offs
13th interdisciplinary European Conference on
Entrepreneurial Research
Montpellier, France, February 26, 2014
Value creation measures in the VC industry
Weber, Eric
The use of advisory boards for networking activities
in entrepreneurial firms
Strategic Management Society Conference
Madrid, Spain, September 14, 2014
Wagnisfinanzierung und Risikomanagement
Bonner Akademischer Sommer
Bonn, Germany, May 12–13, 2014
Schefczyk, Michael; Pinkwart, Andreas; Fiegler,
Torsten; Proksch, Dorian; Ernst, Cornelia
Krisen-Ursachen bei Technologie-Start-ups: eine
longitudinale Studie.
18th Interdisciplinary annual conference on
Oldenburg, Germany, November 13–14, 2014
Pinkwart, Andreas (Ed.)
13th Annual Open and User InnovationWorkshop
(OUI)
Lisboa, Portugal, July 13–15, 2015
A hidden/forbidden source of innovation? Organizational enablers for involving qualified externals
Leipzig: HHL Leipzig Graduate School of Management, 2014
Abu El-Ella, Nagwan
Lichtenberg, Andrej; Hagedorn, Anja;
Rudolph, Katja
26 International Society for Professional Innovation Management (ISPIM)
Budapest, Hungary, June 14–17, 2015
Management, 2015
25th International Society for Professional
Innovation Management (ISPIM)
19th interdisciplinary annual Conference on
Abu El-Ella, Nagwan
Clusterprozesse in der Bioökonomie: eine
Bestandsaufnahme in den Bereichen Logistik- und
Supply Chain Management, Innovations-, Marketing
und Clustermanagement von ausgewählten
Bioökonomie-Clustern
Rethinking the role of trust in open innovation
AACSB-Conference
Frankfurt, Germany, October, 26th, 2015
Management, 2015
Chair Report 2013: Stiftungsfonds Deutsche
Bank Chair of Innovation Management and
Entrepreneurship
Andreas
The involvement of highly qualified freelancers:
an opportunity for innovation?
th
Abu El-Ella, Nagwan
Firms’ interactions with user innovation:
current & future Trends
12th Annual Open and User InnovationWorkshop
(OUI)
Boston, USA, July 28–30, 2014
Weber, Eric
Advisory boards in entrepreneurial businesses
11th European University Network on
Entrepreneurship Conference
Lund, Sweden, August 18–23, 2014
SCHUMPETER JUNIOR
PROFESSORSHIP IN
ENTREPRENEURSHIP AND
TECHNOLOGY TRANSFER
Journal Articles
Haller, Jörg B. A., Velamuri, Vivek K., S
chneckenberg,
Dirk, Möslein, Kathrin
Exploring the design elements of open innovation
In: Journal of Strategy and Management, (2016),
forthcoming
Schneckenberg, Dirk, Velamuri, Vivek K., Comberg,
Christian, Spieth, Patrick
Business model innovation and decision-making:
uncovering mechanisms for coping with uncertainty
In: R&D Management, 46 (2016), forthcoming
Velamuri, Vivek K.; Schneckenberg, Dirk; Haller, Jörg
B. A.; Möslein, Kathrin M.
Open evaluation of new product concepts at the
front end of innovation: objectives and contingency
factors
In: R&D Management, (2015), DOI 10.1111/radm.12155
Comberg, Christian; Velamuri Vivek K.
Roessler, Mirjam; Velamuri, Vivek K.
Möslein, Kathrin M.
In: International Journal of Technology
Management, (2016), forthcoming
The XXVI ISPIM Conference – Shaping the Frontiers
of Innovation Management
In: Van Delden, C. (Ed.). Crowdsourced innovation:
revolutionizing open innovation with crowdsourcing. München: innosabi, 2014, 60–70
The introduction of a competing business model:
the case of eBay
Corporate incubation as a tool to foster business
model innovation
The emergence of platforms for open and crowdsourced innovation
Lange, Veit Gregor; Velamuri, Vivek K.
Business model innovation in the retail industry:
growth by serving the silver generation
In: International Journal of Entrepreneurship and
Innovation Management, 18 (2014) 4, 310–329
CENTER FOR LEADING
INNOVATION & COOPERATION
(CLIC)
Dauth, Tobias; Lehnen, Pascal; Velamuri, Vivek K.
Edited Books
13th Vaasa Conference on International Business,
Vaasa, Finland, August 26–28, 2015
Lehmann, Claudia
Zhou, Weni.; Velamuri, Vivek K.; Dauth, Tobias
Wiesbaden: Springer Gabler, 2016 (forthcoming)
De-internationalization: past research and future
challenges
Changing innovation roles of foreign subsidiaries
from the manufacturing industry in China
(EURAM) – Waves and Winds of Strategic
Leadership for Sustainable Competitiveness
th
Exploring service productivity:
studies in the German airport industry
Bessant, John; Lehmann, Claudia; Möslein,
Kathrin K.
Driving service productivity: value creation through
innovation
Möslein, Kathrin M.; Dumbach, Martin; Reichwald,
Ralf
Informelle Zusammenarbeit und Technologie
In: Rosenstiel, L. von; Regnet, E.; Domsch, M. E.
(Eds.). Führung von Mitarbeitern: Handbuch
für e rfolgreiches Personalmanagement. 7th ed.
Stuttgart: Schäffer Pöschel, 2014, 590–601
Möslein, Kathrin M.; Adamczyk, Sabrina; Rass,
Matthias; Bullinger-Hoffmann, Angelika C.
Open Innovation im Gesundheitswesen: das Beispiel
einer Innovationsplattform zu seltenen Krankheiten
In: Bieber, D.; Geiger, M. (Eds.). Personenbezogene
Dienstleistungen im Kontext globaler Wertschöpfung. Wiesbaden: Springer VS, 2014. 278–286
Böhmann, Tilo; Leimeister, Jan Marco; Möslein,
Kathrin M.
Service systems engineering:
a field for future information systems research
Cham: Springer, 2014
In: Business & Information Systems Engineering, 6
(2014) 2, 73–79
Velamuri, Vivek K.; Comberg, Christian; German,
Andrew
Böhmann, Tilo; Leimeister, Jan Marco; Möslein,
Kathrin M.
In: Wirtschaftsinformatik, 56 (2014) 2, 83–90
Business model innovation at eBay:
a story of being globally local
care management
Grahsl, Isabella; Velamuri, Vivek K.
Servitization logics for utilities: a systematic
approach to develop B2C-offerings
XXV ISPIM Conference – Innovation for Sustainable
Economy & Society
Haller, Jörg .H; Velamuri, Vivek K.; Möslein,
Kathrin M.
Assessing the value of open evaluation
th
Lehmann, Claudia; Möslein, Kathrin M.
Nutzen statt besitzen: Modelle für effektive Nutzung
durch Digitalisierung
In: Boes, A. (Ed.). Dienstleistung in der digitalen
Gesellschaft: Beiträge zur Dienstleistungstagung
des BMBF im Wissenschaftsjahr 2014. Frankfurt:
Campus, 233–234
Bessant, John; Lehmann, Claudia; Möslein,
Kathrin M.
Service productivity and innovation
In: Bessant, John. R.; Möslein, Kathrin M. (Eds.)
innovation. Cham: Springer, 2014, 3–15, 211–218
Schreiber, Carolin; Velamuri, Vivek K.
Challenges of integrating an evaluation-model for
success within social entrepreneurship
Economy & Society
Comberg, Christian; Schneckenberg, Dirk; Velamuri,
Vivek K.
The design logic for business model innovation in
sharing economies
The XXVI ISPIM Conference – Shaping the Frontiers
of Innovation Management
Schneckenberg, Dirk; Comberg, Christian; Velamuri,
Vivek K.
The design logic in business model innovation:
cognitive foundations for managerial reasoning
EURAM Innovation SIG In-between event,
Innovation Theory and the (re)foundations of
Management
Paris, France, November 9, 2015
Comberg, Christian; Seith, Friedemann; German,
Andrew; Velamuri, Vivek K.
Pivots in startups: factors influencing business model
innovation in startups
Economy & Society
Comberg, Christian; Velamuri, Vivek K.; Müller,
Benjamin
SaaS as a driver for business model innovation:
lessons learned from the software industry
Service-Systems-Engineering: ein zukünftiges
Forschungsgebiet der Wirtschaftsinformatik
Roth, Angela; Möslein, Kathrin M.
Produzenten als Dienstleister: auf dem Weg zu
interaktiven hybriden Wertschöpfungssystemen
In: Schuh, G.; Stick, V. (Eds.). Enterprise-Integration:
auf dem Weg zum kollaborativen Unternehmen.
Heidelberg: Springer Vieweg, 2014, 139–151
Roth, Angela; Fritzsche, Albrecht; Jonas, Julia;
Danzinger, Frank; Möslein, Kathrin M.
Interaktive Kunden als Herausforderung:
die Fallstudie „JOSEPHS® – Die Service-Manufaktur“
In: HMD: Praxis der Wirtschaftsinformatik, 51
(2014) 6, 883–895
Wendelken, Anke; Danzinger, Frank; Rau,
Christiane; Möslein, Kathrin M.
Innovation without me: why employees do (not)
participate in organizational innovation communities
In: R&D Management Journal, 44 (2014) 2, 217–236
Lehmann, Claudia; Möslein, Kathrin M.
Service productivity at airports
In: Bessant, John; Lehmann, Claudia; Möslein,
Kathrin M. (Eds.). Driving service productivity:
value creation through innovation. Cham: Springer,
2014, 95–111
Reichwald, Ralf; Möslein, Kathrin M.; Dumbach,
Martin; Plieth, Hanna
Informelle Gemeinschaften und die
Innovationsfähigkeit im demografischen Wandel
In: Denkströme, (2014) 12, 60–76
Wendelken, Anke; Brunner, Sabine; Möslein,
Kathrin M.
Habicht, Habicht; Thallmaier, Stefan
In: PersonalQuarterly, (2016) 1, 22–127
International Journal of Technology Management,
(2016), forthcoming
Maßgeschneiderte organisationale Communities
Rau, Christiane; Möslein, Kathrin M.; Neyer,
Anne-Katrin
Playing possum, hide-and-seek, and other behavioral
patterns: knowledge boundaries at newly emerging
interfaces
Understanding the customer value of co-designing
individualized products
Habicht, Hagen; Heidemann, Friedrich W.; Ross,
Alastair
Service productivity in professional service firms
In: R&D Management, (2016), DOI: 10.1111/
radm.12185
In: Bessant, John. R.; Möslein, Kathrin M. (Eds.)
innovation. Cham: Springer, 113–130
Fritzsche, Albrecht; Roth, Angela; Möslein,
Kathrin M.
Lundberg, Hans; Sutherland, Ian, Blazek; Paul,
Penzenstadler, Birgit; Habicht, Hagen
Open innovation for innovation tools:
the case of co-design platforms
In: Dirk Riehle et al. (Eds.). OpenSym ’15 –
Proceedings of the International Symposium on
Open Collaboration (San Francisco, California,
USA, August 19–21, 2015). New York: ACM, 2015, DOI
10.1145/2788993.2789840 (6p)
Velamuri, Vivek K.; Schneckenberg, Dirk; Haller,
Jörg B. A.; Möslein, Kathrin M.
Open evaluation of new product concepts at the
front end of innovation: objectives and contingency
factors
In: R&D Management, (2015), DOI 10.1111/
radm.12155
The emergence of creativity, innovation and
leadership in microlevel social interactions and how
to research it
In: International Journal of Industrial Engineering
and Management, 5 (2014) 4, 221–232
Marheineke, Mark; Habicht, Hagen
Understanding virtual objects for knowledge creation
in communities
In: Dirk Riehle et al. (Eds.). OpenSym ’14 –
Proceedings of the International Symposium
on Open Collaboration (Berlin, Germany,
August 27–29, 2014). New York: ACM, 2014, DOI
10.1145/2641580.2641594 (10p)
Marheineke, Marc; Habicht, Hagen; Möslein,
Kathrin M.
Pößl, Angelika Carmen
In: Kundisch, Dennis; Suhl, Leena; Beckmann, Lars
(Eds.). MKWI 2014 – Tagungsband Multikonferenz
Wirtschaftsinformatik 2014: 26.–28. Februar 2014
in Paderborn. Paderborn: Univ. Paderborn, 2014,
1636–1644
Diss., 2013
Management, 2014
Lowering knowledge boundaries through collaboration technology: a problem identification
Offene Innovationsprojekte in professionellen
Dienstleistungsunternehmen:
eine Studie in Architekturbüros und Pflegeheimen
Thallmaier, Stefan
Plieth, Hanna; Müller, Michaela; Habicht, Hagen;
Wolter, Vera
Das Demografie-Projekt 2022
Customer co-design:
a study in the mass customization industry
In: Zeitschrift Führung + Organisation, 84 (2015) 3,
191-96
Plieth, Hanna; Habicht, Habicht; Möslein,
Kathrin M.
Ein Innovationsreifegradmodell im
Demografischen Wandel
In: Jeschke, Sabina; Richert, Anja; Hees, Frank;
Jooß, Claudia (Eds): Exploring Demographics:
Transdisziplinäre Perspektiven zur Innovationsfähigkeit im Demografischen Wandel. Wiesbaden:
Springer Fachmedien, 2015, 265–280
Stakeholder integration for service innovation in
German medium-sized enterprises
24th Annual RESER Conference
Helsinki, Finland, September 11–13, 2014
Jonas, Julia; Roth, Angela; Möslein, Kathrin M.
Co-creating service innovation in interdependent
service systems
4th Forum on Markets & Marketing
Karlstad, Sweden, June 16–19, 2014
Jonas, Julia; Roth, Angela; Wolpert, Stefan; Möslein,
Kathrin M.
Open service design? Exploring customer
co-creation in a service manufactory
ServDes. 2014
Lancaster, UK, April 9–11, 2014
Krämer, Katja; Roth, Angela; Möslein, Kathrin M.
Lehmann, Claudia; Habicht, Hagen
Capture, evaluate and boost service productivity at
airports – a customer-centric approach
9th Research Colloquium on Innovation & Value
Creation
Nuremberg, Germany, November 27–29, 2014
Thallmaier, Stefan; Habicht, Hagen
Comparative exploration of key challenges in
customer co-design using theories of social presence
Exploring the diffusion of co-creation expertise in
organizations
21st International Product Development
Management Conference (IPDMC)
Limerick, Ireland, 2014
Krämer, Katja; Roth, Angela; Möslein, Kathrin M.
Lehmann, Claudia; Habicht, Hagen; Möslein,
Kathrin M.
A case about the diffusion of co-creation expertise
in organizations
2015, 121–142
How perceived and actual waiting time influence
customer experience of services
RESER Konferenz 2014
Helsinki, Finnland, September 11–13, 2014
Roth, Angela; Möslein, Kathrin. M.; Jonas, Julia
Thallmaier, Stefan; Habicht, Hagen
Kathrin M.
Cambridge Service Week, Academic Conference
2014
Cambridge, UK, September 29–October 3, 2014
Interaktionstechnologien für
Individualisierungsleistungen im Einzelhandel
In: Möslein, K.; Piller, F., eds. Dienstleistungen
produktiv gestalten: Produktindividualisierung im
Einzelhandel. Leipzig, HHL Leipzig Graduate School
of Management, 2014, 19–24
Thallmaier, Stefan; Habicht, Hagen; Möslein,
Kathrin M.
Formen des Online-Co-Designs bei Mass
Customization
In: Möslein, K.; Piller, F., eds. Dienstleistungen
produktiv gestalten: Produktindividualisierung im
Einzelhandel. Leipzig, HHL Leipzig Graduate School
of Management, 2014, 28–31
Open innovation for innovation tools:
the case of co-design platforms
International Symposium on Open Collaboration
(OpenSym ’15)
San Francisco, California, USA, August 19–21, 2015
Actor integration in service systems –
exploring effects on a micro level
ISPIM Dublin, June 8–11, 2014
Bringing interactive hybrid value creation to
downtown retailers – towards a service-manufactury
Scheiner, Christian W.; Krämer, Katja; Möslein,
Kathrin M.; Voigt, Kai-Ingo
Inducing change with an online ideation game
12th Annual Open and User Innovation Conference,
Harvard Business School
Boston, USA, July 28–30, 2014
The 2015 Naples Forum on Service
Naples, Italy, June 9–12, 2015
Grafmüller, Leontin; Habicht, Hagen
The 2015 World Conference on Mass Customization,
Personalization, and Co-Creation (MCPC 2015)
Montreal, Canada, October 20–22, 2015
Co-creating innovation in service systems – exploring
the effects of cross-disciplinary problem solving
Current challenges for mass customization on
B2B markets
2015 EurOMA Conference
Neuchatel, Switzerland, June 26–July 1, 2015
Habicht, Habicht, Möslein, Kathrin M.
Möslein, Kathrin K.; Piller, Frank
Roth, Angela; Jonas, Julia; Fritzsche, Albrecht;
Danzinger, Frank; Möslein, Kathrin M.
innteract 2015
Chemnitz, Germany, May 7–8, 2015
Dienstleistungen produktiv gestalten:
Produktindividualisierung im Einzelhandel
CLIC Executive Briefing Note No. 026
Management, Center for Leading Innovation and
Cooperation, 2014
Reichwald, Ralf; Marheineke, Marc
Remote Service im Bildungsexport:
Chancen für Unternehmen
Cooperation, 2015
Grafmüller, Leontin K.; Raß, Matthias; Möslein,
Kathrin M.
Die Genossenschaft im Web 2.0:
Social Media richtig einsetzen
Cooperation, 2015
Doctoral Theses
Brunner, Sabine
Individual innovativeness and leadership support:
a study on young professionals in the retail
Management, 2015
Spaces for value co-creation: the case of
“JOSEPHS® – The Service Manufactory”
EURAM Conference
Seif, Heiko; Puchan, Jörg; Mayer, Dennis; Möslein,
Kathrin M.; Jung, H. H.; Oks, Sascha
Produzierende Unternehmen in Deutschland auf dem
Weg zu Industrie 4.0 – Erste Erkenntnisse auf Basis
einer Delphi-Studie
11. Symposium für Vorausschau und
Technologieplanung
Berlin, October 29–30, 2015
Söldner, Constantin; Roth, Angela; Möslein,
Kathrin M.
Opening embedded systems for open innovation
Pacific Asia Conference on Information Systems
(PACIS 2015)
Singapore, July 5–9, 2015
Kathrin M.
Systematic service development:
exploring the role of the setting
R&D Management Conference, Fraunhofer IAO
Stuttgart, Germany, June 3–6, 2014
Haller, Jörg .H; Velamuri, Vivek K.; Möslein,
Kathrin M.
Assessing the value of open evaluation
Open Innovation für Gesundheitsinnovation
Habicht, Habicht; Farahbakhsh, Siavash;
Frattini, Federico
The impact of innovation orientation
on the role of absorptive capacity
R&D Management Conference 2015
Pisa, Italy, June 23–26, 2015
Habicht, Hagen
User innovators: when patients set out to help
themselves and end up helping many
CASiM Conference 2014 “Boundaryless Hospital:
Rethink and Redefine Health Care Management”
Marheineke, Mark
Designing guidelines for boundary objects’ use in
virtual innovation communities
European Conference on Information Systems –
Doctoral Consortium
The Netherlands, Oldenzaal (Erve Hulsbek),
May 23–27, 2015
Marheineke, Mark, Habicht, Hagen
Understanding virtual objects for knowledge creation
in communities
The 10th International Symposium on Open
Collaboration
Berlin, Germany, August 27–29, 2014
Marheineke, Marc; Habicht, Hagen; Möslein,
Kathrin M.
Standing in misunderstanding: analyzing boundary
objects’ effectiveness in innovation communities
R&D Management Conference 2014, Fraunhofer IAO
Stuttgart, Germany, June 3–6, 2014
HHL Leipzig
Graduate School
of Management
HHL is a university-level institution and ranks amongst the leading international
business schools. The goal of the most traditional business school in Germanspeaking Europe is to educate effective, responsible and entrepreneurially-minded
leaders. In addition to HHL’s international focus the combination of theory and
practice plays a key role. HHL stands out for its excellent teaching, clear research
focus, effective transfer of knowledge into practice as well as its outstanding student
services. It offers a 21 to 24-month (and a 24-month part-time) Master Program in
Management (M.Sc.) as well as a 15 or 21-month (or 24-month part-time) MBA in
General Management and also a 21-month Global Executive MBA. HHL’s program is
complemented by the two-year EuroMBA Program, a program based on e-learning
(electronically supported learning).
A three-year doctoral program, which can be studied part-time as well, completes
HHL’s courses of study. The department of Executive Education offers company
specific and open training programs for advanced education for specialist and
leading positions. HHL received the accreditation of AACSB International in April
2004 and one of the first private schools worldwide to be re-accredited under the
revised business accreditation standards in April 2014.
hhl.de
Imprint
Editor:
Prof. Dr. Andreas Pinkwart, Dean of
Editorial Office:
Volker Stößel (MBA), Daniela Neumann (M.Sc.)
Layout:
CLAUS KOCHTM, Stefanie Bader
Printed by:
Fischer druck&medien
ISSN: 2195-0393 (Print) / ISSN: 2195-0407 (Online)
Copyright 2016 by HHL Leipzig Graduate School of
Management, Leipzig, Germany, hhl.de
All rights reserved. No part of this publication may
be reproduced, stored in a retrieval system, used in
a spreadsheet, or transmitted in any form or by any
means – electronic, mechanical, photocopy, recording, or otherwise – without the permission of HHL.
20th Anniversary of the
Academic Program at
Alumni and Visiting Lecturers Give Their Personal View on the
“For my professional
career in executive education at IMD, Harald
Hungenberg’s HHL courses
on structured problem
solving and communication had a profound and
lasting impact. No matter
whether I am working
with top teams of large
multi-nationals or with
individual participants
coming from NGOs, the
approach to thinking
I learnt during my time at
HHL has turned out to be
broadly applicable and
highly impactful for any
type of business challenge my participants might
encounter.”
Prof. Dr. Albrecht Enders
Professor for Strategy and Innovation
at IMD Lausanne, Switzerland
“Scientific research has always
given me great pleasure. This was
one reason why I decided to pursue my graduate studies further
at HHL. HHL’s particular focus of
quality scholastic research and
teaching with a high level of practical relevance – especially the
intensive interaction between the
whole research team, students
and companies – induced me to
wend my way into academia.”
Dr. Kerstin Fehre
Post-doctoral candidate at the Institute
of Management at Karlsruhe Institute of
Technology (KIT), Germany
“Since I studied at HHL
between 1997 and 1999, I
have continued to have a
very strong relationship
to ‘my’ alma mater. This
is specifically based on
the intense contact between students and all the
members of the faculty.
Everyone at HHL was
very helpful, friendly and
excelled in the field she or
he was working in. Today
when I come back to HHL
as a teacher and professor
I try to give this experience
back to my students.
And to speak for myself:
I always have the feeling of
coming home.”
Prof. Dr. Oliver Klante
Otto-Endowed Chair of Marketing and
Strategic Purchasing at Hamburg University of
Applied Sciences, Germany
Resumption of the
HHL (1996–2016)
Development of HHL
“Between 1996 and 1999,
I spent three years as a research associate and doctoral student at HHL’s Chair
for Strategic Management
and Organization, which
was then headed by Prof.
Dr. Harald Hungenberg. His
guidance, his leadership
style and open communication, his way of teaching and
interacting with students
have greatly influenced me
and inspired my enthusiasm
for an academic career. I am
thankful that today I can
pass on these ideas and
this influence to my own
students.”
Prof. Dr. Torsten Wulf
Holder of the Chair of Strategic and
International Management at PhilippsUniversität Marburg, Germany, Academic
Director of the Center for Strategy and
Scenario Planning , HHL Leipzig Graduate
School of Management
“For me as a teacher, HHL is a great
opportunity to work with exceptional
students – qualified and motivated, with a unique set of diverse
backgrounds, not only interested in
their careers, but also committed to
their school and their host city. It is
enriching to work with them and it is
gratifying to see them develop over
the course of the program. Thanks
to social media, I am still in contact
with many former students: I take
great pride in their personal and
professional growth.”
Prof. Dr. Harald Hungenberg
Holder of the Chair of Business Administration
at Friedrich-Alexander-Universität ErlangenNürnberg (FAU), Germany
“I was attracted to HHL by
the opportunity to work
with world-class students
and staff and to bring the
results of my research –
with HHL colleagues at
the Center of Leading
Innovation and Business
Creation (CLIC) and in the
Innovation Group – into
wider view. I enjoy the interaction with such sharp
minds and the challenges
their questions pose to
help me develop my own
research agenda for the
future.”
Prof. John Bessant, Ph.D.
Professor of Innovation and Entrepreneurship
at the University of Exeter, UK
Jahnallee 59, 04109 Leipzig, Germany
Tel.: +49 341 9851-60, Fax: +49 341 9851-679
Email: [email protected], Internet: hhl.de

Research Report

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