Organisationale Einflussfaktoren des Allianzerfolgs – Eine empirische Analyse auf Basis des „resource-based view“

Strategic alliances have become an essential part of business strategy and a central source of competitive advantage for almost any firm. Existing research has mainly focused on the isolated analysis of single alliances. This paper addresses the gap in the literature by analyzing organizational-level determinants of alliances success. Based on survey data from 302 firms, four organizational success factors of alliance management are identified and integrated in a structural model.     

Betriebsinterne Arbeitsmärkte, Hierarchien und Neueinstellungen: Eine empirische Untersuchung mit Personaldaten

Many empirical studies which deal with internal labour markets are related to the work of Doeringer and Piore (1971). The majority of these studies cannot find closed internal labour markets with entry positions at the lower end of a firm’s hierarchy. Most of these studies, however, use data from financial and service industries, managerial or other white-collar workers. Doeringer and Piore (1971) state that closed internal labour markets with clearly defined entry positions should be found especially for blue-collar workers in the manufacturing industry, because firm specific human capital is of large importance in these industries. In this paper, a large data set of a manufacturing company with blue-collar and white-collar workers is used. We show that the internal labour market of blue-collar workers is more closed than that of white-collar workers. Moreover, we find that firm specific human capital plays a major role in determining the hierarchical position of blue-collar workers. Entries of white-collar workers, however, appear at all hierarchical positions. Furthermore, formal education plays a major role in allocating the white-collar workers.     

Der Einfluss von Neuproduktvorankündigungen auf den Shareholder Value: Eine empirische Untersuchung

This paper analyses 220 preannouncements of new products and their effect on shareholder value on American and European stock markets. Overall, the results show a positive significant reaction of abnormal returns on preannouncements. Additionally, determinants of the strength of the shareholder value effect are analyzed. Whereas market-related (country and industry) and preannouncement-related factors (detailedness of preannouncement, mentioning a launch date, and the preannouncement of multiple products) do not have an influence on the size of the effect, company-related and product-related factors can explain the magnitude of the reaction. Our model extends prior empirical literature by showing a higher explained variance of the strength of the shareholder value effect. In particular, there exists a negative relationship between company size and abnormal returns and return on equity and abnormal returns, whereas the newness of the product for the market has a positive influence on abnormal returns.     

Ist Marktorientierung ansteckend? Der Transfer der Marktorientierung über Hierarchieebenen – Eine empirische Mehrebenenuntersuchung

It is generally accepted that market orientation as a well-established marketing phenomenon influences the performance of companies. However, work investigating how market oriented behaviours of customer-contact employees can be influenced is conspicuous by its absence. This article is the first empirical multilevel study in this area, which simultaneously examines intralevel-effects (effects within the level of customer-contact employees, e.g. length of work experience, job satisfaction) as well as crosslevel-effects (effects which come from superordinate managers). Based on a large-scale three-level study, the results show that the transfer of top-managers’ market orientation via sales managers down to customer-contact employees is definitely not an automatism. In fact this market orientation cascade particularly succeeds, if the market orientation of superordinate managers comes along with intense charismatic leadership. All in all, the entire impact of crosslevel-variables on the market orientation of customer-contact employees is at least as comprehensive as the influence of intralevel variables.     

Die Identifizierung von Lead Usern über soziale Netzwerke: Eine empirische Untersuchung unter jungen Konsumenten

In recent years, the lead user concept has received a great deal of attention in both academic research and corporate practice. Despite broad empirical evidence regarding the high potential of lead users for new product development, we still lack a full understanding of their nature and what enables individual consumers to become lead users. Our study addresses these fundamental issues in lead user research and examines them from a perspective which focuses on the social context of individual consumers. This angle is promising and fruitful as individual creative processes are couched in social networks. As a result, our investigation is guided by the following research question: Do lead users have a distinct social ‘footprint’ in social networks? We chose 34 groups of 804 young consumers as the empirical setting for our study, which yields two general findings: First, lead users are positioned as bridging links between different clusters of people. Being in this ‘boundary-spanning’ position implies that lead users have a wider reach and variety in receiving and distributing information and knowledge. Second, this finding is robust across different age groups. The insights from our study contribute to developing new means of identifying lead users in different settings, including Web 2.0 communities.     

Determinanten des Informationsgehalts von Managementprognosen – eine empirische Untersuchung anhand der DAX und MDAX-Unternehmen

In this article the characteristics and determinants of the information content of management earnings forecasts of the German DAX and MDAX companies between 2002 and 2005 are analyzed. As proxy for the information content I use the precision of the wording of a forecast. I can show that the forecasts of MDAX companies are more precisely formulated than those of DAX companies. Furthermore forecasts are formulated more precisely, when companies have, (1) a lower percentage of intangible assets, (2) lower market capitalization, (3) lower volatility of earnings and (4) a higher need for external financing.     

Auswirkungen der IFRS-Umstellung auf die Risikoprämie von Unternehmensanleihen – Eine empirische Studie für Deutschland, Österreich und die Schweiz

Does an IFRS-adoption reduce the information asymmetry between firms and providers of debt capital and therefore the risk premium of corporate bonds? Contrary to prior empirical studies we examine the relationship between disclosure and cost of capital for debt financing. We analyse the impact of an IFRS-adoption on the risk premium of German, Austrian, and Swiss corporate bonds between 1997 and 2005. Our results indicate that the change in risk premium declines after an IFRS-adoption by 40%. However, the effect occurs with a time-lag.     

Implizite Theorien über Lernen und Veränderungen durch Coaching in Organisationen – Eine empirische Untersuchung

There are many different ways to understand and use coaching in organization which are influenced by the organizational culture with different basic assumptions about learning and change of humans. The question is on behalf of which implicit theory the members understand and develop their organization. The goal of the following investigation is to describe these implicit theories of change. Therefore a large sample of human resource managers were interviewed about assessment criteria for coaches, coaching topics, expectations on coaching, attitudes on coaching and the impact of coaching in their organization. The results show that there are no distinguishable patterns in the formal coaching processes but clear und different types of implicit theories about coaching. Finally some implication for coaching in organization and for external professional coaches were made.     

Warum suchen Biotechnologieunternehmen strategische Allianzen? Eine experimentelle Untersuchung

Zusammenfassung  In diesem Beitrag werden die Faktoren untersucht, die zur Allianzbildung junger Biotechnologieunternehmen beitragen. Aus einer ressourcenorientierten Perspektive wird argumentiert, dass die Entscheidung von Managern, Partnerunternehmen für neue Allianzen zu suchen, von der Ressourcensituation ihres Unternehmens und den Ressourcenanforderungen bzw. -akquisitionsm?glichkeiten der Umwelt abh?ngen. Eine Analyse von 1664 Allianzentscheidungen aus einem Conjoint-Experiment mit 52 Top-Managern der deutschen Biotechnologiebranche zeigt, dass fehlende finanzielle Ressourcen die Haupttriebkraft sind. Au?erdem zeigt sich, dass für die meisten Manager fehlende, für manche Manager jedoch vorhandene Ressourcen eine st?rkere Triebkraft der Allianzsuche darstellen Diese Ergebnisse erweitern die wissenschaftliche Literatur über strategische Allianzen und haben Implikationen für die Managerpraxis.

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Why do biotechnology firms seek strategic alliances? An experimental study

Summary  In this article we draw on a resource-based perspective to analyze the drivers for strategic alliance formation in the biotechnology industry. We state that the decisions of managers to seek out new alliance partners depend on the resource endowments of their ventures as well as the resource demands and opportunities the environment places for them. We use a conjoint experiment to collect data on 1664 alliance decisions nested within 52 top managers of German biopharmaceutical ventures. Our data show that missing financial resources are the strongest driver. Moreover, we find that whereas for most managers missing resources are drivers of alliance search, a minority of managers is more motivated by a strong resource position of their ventures. Our results extend the literature on strategic alliances and have implications for practitioners.

Danksagung: Der Autor dankt zwei anonymen Gutachtern für ihre hilfreichen Kommentare. Das Projekt wurde durch ein EXIST-HighTEPP-Stipendium des Bundesministeriums für Bildung und Forschung gef?rdert.     

Popularity kills the Talentstar? Einflussfaktoren auf Superstargeh?lter in der NBA

The observation that top athletes earn top salaries is well known. The (controversial) debate on superstar-salaries is mainly based on the two competing but equally plausible explanations outlined by Rosen (Am Eco Rev 71(5):845–858, 1981) and Adler (Am Eco Rev 75(1):208–212, 1985). Although both authors illustrate conclusive arguments, the discussion which of these two theories is more adequate in explaining superstar salaries still remains unsolved. The present paper analyzes salary information from the National Basketball Association (NBA) to explore the effect of Rosen’s (Am Eco Rev 71(5):845–858, 1981) talent approach versus the network and media approach by Adler (Am Eco Rev 75(1):208–212, 1985). Using innovative indicators for talent (draft position) and popularity (Facebook fans) in one model, the results of our preferred quantile regression specification indicates that player talent is stronger related to earning than popularity, particularly in the upper quantiles.     

Arbeitgebermarkenaufbau durch informelle Hochschul-Personalmarketingma?nahmen: Eine empirische Analyse im deutschen Mittelstand

Firms use HR marketing practices in order to enhance organizational attractiveness and consequently to attract highly qualified applicants. This issue is of particular importance for rather unknown small and medium-sized firms from the German Mittelstand which still need to build their employer brand. In this paper we empirically observe the impact of two campus-recruitment practices (company presentation during lecture and participation at an university internal career fair) on employer brand equity and subsequently on application intention. Our results suggest that both practices account for building an employer brand. Yet, the company presentation showed marginally greater effect sizes. Additionally, we found that both practices interact with each other, elevating each other??s impact. Thus, the career fair only showed its full potential, when further HR marketing practices were conducted.     

Zum Einfluss der Inhaberführung auf die Betriebsrat-Geschäftsführer-Beziehung – Eine theoretische und empirische Analyse in mittelständischen Unternehmen

This paper examines the quality of the relationship between business managements and works councils in small and medium-sized enterprises and strives for answering the question, which factors determine the quality. As ownership is an important determining factor of the establishment of works councils in small and medium-sized businesses, especially the impact of ownership on this relationship has been investigated. Agency theory and stewardship theory give hints that the owner management can have different impacts on this relationship. In order to test these contradictory hypotheses we have estimated a Heckman selection model to investigate which factors determine the quality of the relationship between business managements and works councils. Our results based on data generated from a survey in small and medium-sized enterprises conducted by the IfM Bonn in the years 2005 and 2006 indicate that ownership has a negative influence on the establishment of works councils, but a positive one on the quality of the relationship between business management and works council. Thus, the hypotheses predicting the existence of stewardship behaviour among owners and the existence of agency behaviour among managers can be confirmed.     

Kann zu viel Kundenorientierung nachteilig sein? Eine Analyse der Wirkung der Kundenorientierung von Verkäufern auf die Kaufentscheidung

Zusammenfassung  In diesem Beitrag wird analysiert, wie das kundenorientierte Verk?uferverhalten auf die Kaufentscheidung der Kunden wirkt. Die Analyse erfolgt auf der Ebene der Dimensionen des kundenorientierten Verkaufens, namentlich Entscheidungsunterstützung, Aufbau eines positiven Gespr?chsklimas und Vermeidung von Abschlussdruck. Die Ergebnisse best?tigen die indirekte Wirkung des kundenorientierten Verkaufens auf die Kaufentscheidung über die Beratungszufriedenheit. Daneben k?nnen sowohl ein direkter umgekehrt u-f?rmiger Effekt der Vermeidung von Abschlussdruck auf die Kaufentscheidung als auch ein direkter negativer Einfluss des Aufbaus eines positiven Gespr?chsklimas auf die Kaufentscheidung nachgewiesen werden. Zudem zeigt sich, dass der Aufbau eines positiven Gespr?chsklimas den st?rksten Einfluss auf die Beratungszufriedenheit ausübt.

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Can too much customer orientation be less effective? An analysis of the effects of customer-oriented selling on customers’ decision to buy

Summary  This research investigates the effects of customer-oriented selling on customers’ decision to buy. In so doing, the focus of the analysis is on the effects of the dimensions of customer-oriented selling, namely supporting customer decision-making, building a positive interaction climate, and avoiding pressure to close the sale. The findings of an empirical study support an indirect effect of customer-oriented selling on customers’ decision to buy through customer satisfaction with the sales interaction. The results also support a direct inverted u-shaped effect of avoiding pressure to close the sale on customers’ decision to buy as well as a direct negative effect of building a positive interaction climate on customers’ decision to buy. And building a positive interaction climate was found to have the strongest effect on customer satisfaction with the sales interaction.

Der Autor dankt den zwei anonymen Gutachtern für die wertvollen Anmerkungen und Anregungen zu einer früheren Version dieses Beitrags.     

Die Wirkung ausländischer Direktinvestitionen auf die Beschäftigung im Heimatmarkt: Eine empirische Analyse des deutschen Mittelstands

Outbound FDI of German SMEs is often assumed to have a negative impact on domestic employment due to job replacement into low wage countries. In this context research often disregards, that FDI can be of horizontal or vertical nature and therefore has different effects on domestic employment. We analyze domestic employment effects using a sample of 1.106 German SMEs. The results show, that a differentiated view is appropriate and necessary to generate a more complete picture of the effects of FDI on job development in the domestic market. Whereas horizontal FDI has complementary effects on domestic employment, vertical FDI is linked to substitutional employment effects.     

Gleichmäßige Bewertung von Mietwohngrundstücken durch das neue steuerliche Ertragswertverfahren? Eine empirische Analyse

This paper deals with the question if the new valuation procedure for rental property established by the German Inheritance Tax Reform Act 2009 provides more consistent tax values than the previous valuation procedure which has been abolished as a result of the jurisdiction of the German Federal Constitutional Court. Our empirical findings show no improvement of the valuation results in terms of statistical spread. The only effect of the new valuation procedure is increasing tax values on average, and hence, tax values often exceed market values. But higher tax values could have been achieved with less effort by simply raising the multiplier of the previous valuation procedure. The findings of this contribution and the results of other papers suggest there is no standardised valuation procedure for rental property which provides a proper performance. Valuation of real estate remains one of the unsolved and presumably permanent problems of the inheritance tax in particular and of capital-based taxation in general.     

Sind die Regeln der externen Unternehmensrechnung auf die kommunale Rechnungslegung übertragbar?

The replacement of public sector accounting methods in municipalities by double-entry bookkeeping has been discussed as well as implemented for some time now. This paper examines whether municipal accounting comprises accounting purposes which are comparable to the purposes of external financial reporting and whether the recognition and valuation rules used in firms can also be applied to municipal accounting. We argue that municipalities and businesses have similar accounting purposes. However, the application of financial reporting, including the corresponding recognition and valuation rules, to municipal accounting requires a critical look for several reasons. First, the concept of accounting income is not suitable in terms of decision-facilitating and decision-influencing in municipalities. Furthermore, it is doubtful how meaningful the valuations of municipal assets in annual financial statements are. The equivalent of providing dividend restrictions based on accounting income is often thought to consist in ensuring intergenerational fairness by asset preservation in municipalities. However, this element of municipal accounting requires rules that are not based on an asymmetrical recording of risks and chances according to the principle of prudence and that take into account the assessment of future generations regarding the benefits of municipal projects.     

K?nnen Studienbeitr?ge die Lehre in der BWL verbessern?

The introduction of tuition fees by some German universities raised fears about possible negative effects, which scientific research has not substantiated, though. Meanwhile, little attention has been paid to positive effects tuition fees might entail. This is surprising as universities are obliged to use tuition fees to improve study conditions. Business programs are highly frequented with limited academic staff. More assistance would therefore improve study conditions substantially. Tutorials funded by fees can be introduced quickly and, unlike faculty positions, do not tie up money in the long run. This makes them ideal to cope with the one-time enrollment peak due to the shortening of secondary education. We show that tutorials improve both satisfaction and study outcomes. We use data from an introductory course characteristic of business programs, where tutorials have been introduced. This course is attended by about 750 students per term and the data cover several terms. We control for a number of effects, including general academic ability. Increased satisfaction and improved study outcomes show that tutorials enhance both the objective and perceived study conditions. This makes tutorials an example of how tuition fees can be used to produce positive effects.     

Zur Berücksichtigung von Heterogenit?t versus funktionaler Flexibilit?t in Absatzreaktionsmodellen: Eine empirische Studie auf Basis von Handelsdaten

In this paper, we explore the differences between store sales models that allow for heterogeneity in marketing effects across stores and models that accommodate potential irregularities in sales response through the use of nonparametric estimation techniques. In particular, we investigate the following question: What benefits can we gain from incorporating store heterogeneity versus functional flexibility in sales response models concerning fit and predictive validity, as compared to a simple parametric store sales model? In an empirical study based on store-level data, we also compare the different model versions with respect to estimated price elasticities and resulting shapes for own- and cross-price effects. Our empirical results indicate that addressing heterogeneity is not advantageous in general, as model fit, predictive validity and the accuracy of price elasticities did not improve for many brands. In contrast, estimating sales response flexibly provides much more potential for statistical improvements and leads to different implications concerning price elasticities, too.