Wertschöpfungspotenziale und strategische Implikationen einer Öffnung von Informationsressourcen – Phänomenologie und ein Bezugsrahmen

For some years, companies have successfully harnessed the value-creation potential of external resources by opening up their information resources, thus increasing considerably the value of their own resources. Corresponding phenomena, however, cannot be explained by common resource-based approaches. By providing a structure, our article contributes to a deeper understanding of this issue. We develop a framework, grounded in the Resource-Based View, that differentiates phenomena of opening up information resources between two dimensions: (1) access and (2) control. Our analysis motivates an extended view of information resources management that also accounts for enterprise-external resources. We conceptualize this view as the “management of information spheres,” highlighting the need for further research in the field of value creation related to external resources.     

Humankapitalbewertung bei der BASF Coatings AG – Eine anwendungsorientierte Modifizierung und Operationalisierung der Saarbrücker Formel mit dem Schwerpunkt der Wissensbewertung

The present paper describes the concrete application of an integrated Human capital measurement at BASF Coatings AG. For this purpose the Saarbrücker Formula has been broaden by factors that are of practical relevance. The resulting necessary adjustments in terms of definitions, delimitations and calculation logics of the Saarbrücker Formula lead to the extension and development of the approach. The so generated extended formula enables other companies to evaluate their human capital in a sensible way and to derive personnel-politically measures and therefore to overcome the gap between theory and praxis.     

Ability, individual development and optimal selection decisions

The paper analyzes different selection policies in education and business. We show that incorrect self-perceptions combined with imperfect performance measurement may cause significant welfare losses in selective educational systems, in particular if selection starts too early. Of course, these welfare losses can be mitigated by an investment in better ability assessment. However, an affirmative action policy could serve the same purpose as such an investment. We apply our analysis also to diversity management in firms. Based on positive discrimination we establish an efficiency argument for diversity management.     

Rapid Trading bei deutschen Aktienfonds: Evidenz aus einer großen deutschen Fondsgesellschaft

This paper is the first to examine rapid trading among German equity mutual fund investors. Using data on inflows and outflows provided by a large German mutual fund company for all of its equity funds, we find strong evidence for rapid trading. It is particularly pronounced for small funds, risky funds, funds with low nominal prices, and international funds. However, we find no evidence of market timing activities. Furthermore, unlike in the US, rapid trading is less pronounced for funds with high loads. This shows that rapid trading among German fund investors is not explained by churning due to brokers’ advice. Rather, our results are consistent with the view that some investors use mutual funds for short-term, speculative purposes. The funds among which we observe the strongest rapid trading show lottery-like characteristics. Regarding fund performance, we find (at most) only very weak evidence for a negative impact of rapid trading on fund performance before the fund scandal of 2003, and no evidence afterwards.     

Investorenreaktionen auf die Fair Value-Bilanzierung von Verbindlichkeiten nach IFRS – eine experimentelle Untersuchung

The fair value-option in IAS 39 allows fair value measurement for liabilities. It is often criticized that a change in a company’s own credit risk affects the value of its liabilities. Therefore it is doubtful whether the fair value-option is in fact useful for investors’ decision making process. Due to a lack of empirical studies concerning the understandability and the decision usefulness of the fair value-option, this paper contains the results of an experimental investigation. We find that investors are misled by fair values for liabilities, though under some circumstances they learn to interpret the financial data correctly. We compare fair value measurement of liabilities with an accounting treatment based on German GAAP.     

Verallgemeinerte DEA-Modelle zur Performanceanalyse

Dyckhoff and Allen derived a generalisation of Data Envelopment Analysis (DEA) in order to measure ecological efficiency. This approach distinguishes between inputs and outputs of an activity on the one hand and their impact on the relevant evaluation criteria—referred to as efforts and benefits—on the other hand. Thereby, the current framework of the DEA for analysing the relative performance of productive units is fundamentally extended. The relevance of this framework is not limited to ecological aspects because many essential problems of DEA application can be solved. Against this background, the paper presents a formalisation of the generalised DEA, applies it to the well-known basic DEA models, and concretises these models for linear effort and benefit functions.     

Hierarchische Planung für industrielle Logistikdienstleister

In this paper a planning and control system for logistics service providers (called LPS system) is developed under consideration of their specific flexibility potentials. Due to the complexity of such planning decisions (different planning levels and data quality of these levels as well as time horizons etc.), a multi-stage, hierarchical planning system is proposed which minimizes the relevant costs under consideration of the flexibilities. The advantage of a hierarchical planning concept consists in a limited planning complexity because otherwise data collection and solution development would lead to unsolvable problems in practice. The results of using LPS systems for a real-life case show a significant pay-off for logistics service providers due to the remarkable cost savings by applying a hierarchical planning concept.     

Wie gehen wissensintensive Dienstleister mit eigenen Wissenslücken um?

With the conducted Delphi study diverse alternatives could be identified which have been used by Consultants in dealing with their own unawareness. Superior strategies, which controlled the adoption of individual steps and oriented the activities in dealing with unawareness, as well as organisational regulations for dealing with unawareness, were noticeable, which could be adopted depending on the subjective perception and assessment of the present unawareness and its relevance and impacts. The detected strategies ranged from the maintenance and use of unawareness to open communication and elimination of unawareness to total ignorance and the hiding of unawareness. Concerning organisational regulations, on the one hand formal regulations and on the other hand informal regulations could be found.     

Die Kultur der Macht. Die Macht der Kultur

Acting in organizations is characterized by strategies of “Bemächtigung” (repression) just as “Ermächtigung” (empowerment): Everyone tries to push through its individual interests, legitimate or not. Thereby in every organization specific rules of game and stiles of play are developed. Altogether these rules constitute the specific organizational culture. In unfair games, strategies of repression are dominant. In fair games, all players try to realize over and over again a just balance of legitimate interests of all stakeholders. Supervision aims to strengthen “Spielmächtigkeit” (ability of play and game) so that its addressees are able to change unfair games into fair games. The know-how for this is here called “technology of empowerment”.     

Warum kann die Wirkung von Maßnahmen eines Unternehmens auf das Vertrauen des Partners kulturabhängig sein?

Several studies give recommendations which actions a company can take to build its partners’ trust in business relationships. Studies report that, for instance, a company’s flexibility and detailed contractual agreements may positively affect the partner’s trust. However, cultural norms may moderate the effects of potential actions on the partner’s trust and this has hardly been considered in relevant literature. The present paper explains why actions a company takes may have different effects on trust in different cultures. Suggestions for future research and the design of empirical studies are proposed.