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We analyze economics PhDs’ collaborations in peer-reviewed journals from 1990 to 2014 and investigate such collaborations’ quality in relation to each co-author’s research quality, field and specialization. We find that a greater overlap between co-authors’ previous research fields is significantly related to a greater publication success of co-authors’ joint work and this is robust to alternative specifications. Co-authors that engage in a distant collaboration are significantly more likely to have a large research overlap, but this significance is lost when co-authors’ social networks are accounted for. High quality collaboration is more likely to emerge as a result of an interaction between specialists and generalists with overlapping fields of expertise. Regarding interactions across subfields of economics (interdisciplinarity), it is more likely conducted by co- authors who already have interdisciplinary portfolios, than by co-authors who are specialized or starred in different subfields.
In 2015, the United Nations adopted the Sustainable Development Goals (SDGs), a collection of 17 global objectives to promote economic, social and ecological development in all parts of the world. While the academic discussion on the contribution of companies to the Sustainable Development Goals has recently gained momentum, the role of business-to-business (B2B) partnerships in reaching the SDGs is underexplored, particularly when it comes to North-South relationships. With our research, we aim to fill this gap in the literature by investigating sales partnerships between German manufacturers and their distributors in African markets. Based on a qualitative analysis of 28 interviews with managers of German and African companies, we show that long-term partnerships and job creation, technology transfer, training as well as high standards are significant contributions of companies to achieve the SDGs. While several SDGs such as goals 4,6,13,16 and 17 are addressed by B2B partnership, we also discuss approaches on how the firms’ engagement could be further leveraged and expanded.
Tech hubs (THs) and cognate structures are nowadays ubiquitous in the innovation ecosystem of Sub-Saharan African (SSA) countries. However, the concept of THs is fuzzy due to the lack of a clear and universally accepted definition. This ambiguity is further compounded by the diverse range of organizations that self-identify as hubs, or are categorized as such by others. As a result, research on THs in SSA remained limited. Against the backdrop of established research on the interconnectedness of technology, innovation and entrepreneurship in different organizational forms, this paper is meant to provide fresh insights into the study of THs in SSA. To advance future research, first, it reveals what is special about THs in SSA and how they are related to existing concepts. I particularly argue that they contour a fourth-wave model of incubation. Second, four main categories are unfolded to delineate THs in SSA which is the cornerstone for future research.
The Belt and Road Initiative (BRI) has reinforced China’s business engagement in Sub-Saharan Africa (SSA). While previous international business research focused on the internationalization and investments of Chinese companies, this viewpoint uncovers how both local African and international non-Chinese Small and Medium Sized Enterprises (SMEs) may benefit from and participate in the BRI. A focus is laid on the infrastructure sector accounting for the highest investments since the inception of the BRI in 2013. In a conceptual way, the motives of SMEs to participate in infrastructure project business in the context of the BRI are explored. Investigating the challenges of two large transport infrastructure projects, the business potentials for SMEs become visible. It is argued that SMEs find business potentials particularly as investors, sub-contractors and project management experts in the BRI in Sub-Saharan Africa.
The general conclusion of climate change studies is the necessity of eliminating net CO2 emissions in general and from the electric power systems in particular by 2050. The share of renewable energy is increasing worldwide, but due to the intermittent nature of wind and solar power, a lack of system flexibility is already hampering the further integration of renewable energy in some countries. In this study, we analyze if and how combinations of carbon pricing and power-to-gas (PtG) generation in the form of green power-to-hydrogen followed by methanation (which we refer to as PtG throughout) using captured CO2 emissions can provide transitions to deep decarbonization of energy systems. To this end, we focus on the economics of deep decarbonization of the European electricity system with the help of an energy system model. In different scenario analyses, we find that a CO2 price of 160 €/t (by 2050) is on its own not sufficient to decarbonize the electricity sector, but that a CO2 price path of 125 (by 2040) up to 160 €/t (by 2050), combined with PtG technologies, can lead to an economically feasible decarbonization of the European electricity system by 2050. These results are robust to higher than anticipated PtG costs.
Using predictive maintenance, more efficient processes can be implemented, leading to fewer maintenance costs and increased availability. The development of a predictive maintenance solution currently requires high efforts in time and capacity as well as often interdisciplinary cooperation. This paper presents a standardized model to describe a predictive maintenance use case. The description model is used to collect, present, and document the required information for the implementation of predictive maintenance use cases by and for different stakeholders. Based on this model, predictive maintenance solutions can be introduced more efficiently. The method is validated across departments in the automotive sector.
Global trade is plagued by slow and inefficient manual processes associated with physical documents. Firms are constantly looking for new ways to improve transparency and increase the resilience of their supply chains. This can be solved by the digitalisation of supply chains and the automation of document- and information-sharing processes. Blockchain is touted as a solution to these issues due to its unique combination of features, such as immutability, decentralisation and transparency. A lack of business cases that quantify the costs and benefits causes uncertainty regarding the truth of these claims. This paper explores how the costs and benefits of a blockchain-based solution for digitalising and automating documentation flows in cross-border supply chains compare to a conventional centralised relational database solution. The research described in this paper uses primary data collected through semi-structured interviews with industry experts, as well as secondary data from literature. Two models based on existing services were developed and the costs and benefits compared and then analysed using the Architecture Trade-off Analysis Method (ATAM) and the Analytic Network Process (ANP). Findings from the analysis show that a consortium blockchain solution like TradeLens is the favourable solution for digitalising and automating information flows in cross-border supply chains.
Railway operators are being challenged by increasing complexity and safeguarding the availability of passenger rolling stock, bringing maintenance and especially emerging technologies into the focus. This paper presents a model for selection and implementation of Industry 4.0 technologies in rolling stock maintenance. The model consists of different stages and considers the main components of rolling stock, the related appropriate maintenance strategies and Industry 4.0 technologies considering the maturity level of the railway operators. Relevant criteria and main prerequisites of the technologies were identified. The model proposes relevant activities and was validated by industry experts.
With the digital transformation, companies will experience a change that focuses on shaping the organization into an agile organizational form. In today's competitive and fast-moving business environment, it is necessary to react quickly to changing market conditions. Agility represents a promising option for overcoming these challenges. The path to an agile organization represents a development process that requires consideration of countless levels of the enterprise. This paper examines the impact of digital transformation on agile working practices and the benefits that can be achieved through technology. To enable a solution for today's so-called VUCA (Volatility, Uncertainty, Complexity und Ambiguity) world, agile ways of working can be applied project management requires adaptation. In the qualitative study, expert interviews were conducted and analyzed using the grounded theory method. As a result, a model can be presented that shows the influencing factors and potentials of agile management in the context of the digital transformation of medium-sized companies.
Die Annexion der Krim, die Kriegsführung in Syrien, das finanzielle Engagement in Zypern, das Tauziehen um die Ukraine und Weißrussland oder die Namensgebung Sputnik 5 für den Impfstoff gegen die Corona Epidemie sind eindeutige Belege für das aktuelle russische Machtstreben – und seine Expansionspolitik. Deshalb ist es nicht uninteressant zu fragen, welches Meinungsbild Friedrich List (1789–1846) von Russland hatte, zumal es heute noch so aktuell, wie vor 180 bis 190 Jahren erscheint und in seinen Schriften dargelegt ist. Dieses Meinungsbild wird in diesem Aufsatz erstmals untersucht und umfassend dargestellt.
Im Frühjahr 1817 unternahm der damalige Professor Friedrich List an der Universität Tübingen eine Reise nach Frankfurt a. M., wo zu dieser Zeit die berühmte Ostermesse stattfand. Dort traf er mit den Anführern der Kaufleute zusammen, die darüber klagten, dass die zaghafte wirtschaftliche Entwicklung unter den vielen Zollschranken und den Billigimporten aus England stark zu leiden habe. Deshalb forderten sie die Abschaffung der Binnenzölle und die Bildung einer Wirtschaftsunion. Im Auftrag der Kaufleute verfasste List seine berühmt gewordene Petition an die Bundesversammlung, die lose Interessenvertretung des Deutschen Bundes in Frankfurt. Als die Petition mit großem Beifall aufgenommen wurde, gründete List im Hochgefühl seines Erfolges spontan den "Allgemeinen Deutschen Handels- und Gewerbsverein" – die erste Interessenvertretung deutscher Kaufleute. Er legte damit den Grundstein für den politischen Prozess zur Gründung des Zollvereins von 1834, der wiederum die Vorstufe zur Gründung des Deutschen Reiches von 1871 bildete. Lists damalige Forderungen sind zurzeit wieder hoch aktuell.
Seit 5 Jahrzehnten steht die Erforschung von Leben, Werk und Wirkungsgeschichte von Friedrich List (1789–1846) im Zentrum der wissenschaftlichen Arbeit von Eugen Wendler. Im Laufe der Zeit sind ca. 30 Monographien und eine größere Anzahl von wissenschaftlichen Aufsätzen und journalistischen Artikeln entstanden. Dabei baute Eugen Wendler auf der unschätzbaren Vorarbeit der Herausgeber der Gesamtausgabe von Lists Werken von 1925 bis 1935 auf.
Der vorliegende Aufsatz vermittelt einen Überblick über die Buchpublikationen von Eugen Wendler zur List-Forschung. Mit seinem eindrucksvollen Oeuvre bekennt er sich zum letzten lebenden Fossil in der Nachfolge der FLG und erweist damit den Herausgebern die gebührende und längst überfällige Wertschätzung und Achtung.
Unter den widrigsten wirtschaftlichen und politischen Verhältnissen und Bedingungen wurde die Friedrich-List-Gesellschaft (FLG) 1925 gegründet und bis 1934 fortgeführt. Sie verfolgte vor allem den Zweck, die weit verstreuten, schwer zugänglichen und vielfach unbekannten Schriften, Reden und Briefe von Friedrich List (1789-1846) zusammenzutragen und in Form einer Gesamtausgabe zu publizieren.
Weder diese 10- bzw. 12-bändige Gesamtausgabe, noch die Namen ihrer Herausgeber haben in der Wirtschaftswissenschaft die gebührende Wertschätzung und Aufmerksamkeit erfahren. Die längst überfällige Dankesschuld wird in dem vorliegenden Beitrag nach nahezu 100 Jahren abgetragen. Ohne den engagierten und mutigen Einsatz der Herausgeber, insbesondere von Edgar Salin, wäre die List-Forschung undenkbar und die deutsche Wirtschaftswissenschaft um ein ruhmreiches Kapitel ärmer.
In buchstäblich letzter Minute haben sich die englische Regierung und die Europäische Union auf ein umfangreiches Abkommen geeinigt, um einen ungeregelten Brexit zu verhindern. Nach dem jahrelangen zähen Verhandlungsmarathon fällt der Jubel verhalten aus, dennoch herrscht auf beiden Seiten des Ärmelkanals Erleichterung, weil ein Modus Vivendi gefunden wurde, auf dem sich die künftigen Beziehungen aufbauen und fortführen lassen. Ob sich die englischen Blütenträume, die an den Brexit geknüpft wurden, erfüllen werden, wird die Zukunft erweisen.
Die Strategie und Taktik der englischen Regierungen zum Brexit und bei den Austrittsverhandlungen spiegeln sich in den Erfahrungen wider, die Friedrich List vor genau 175 Jahren bei seinen Bemühungen um eine deutsch-englische Allianz machen musste. Wegen der von England schon damals strikt befolgten Insular und Handelssuprematie musste er sich eingestehen, dass England diese Position hartnäckig verteidigt und deshalb frustriert und ernüchtert seine Pläne aufgeben. Deshalb setzte er seine Hoffnung auf eine "Kontinentalallianz" der europäischen Nationen, wie sie nun nach dem Austritt Großbritanniens aus der Europäischen Union entstanden ist. Vielleicht werden wir uns nun an den Begriff "Kontinentalallianz" gewöhnen müssen und dabei an die Weitsicht von Friedrich List erinnert.
Andererseits gilt auch für die englische Politik das Motto von Lists zweiter Pariser Preisschrift: "Le monde marche - Die Welt bewegt sich", allerdings mit völlig anderen Vorzeichen als vor 175 Jahren: Die Welthandelsachse hat sich von der westlichen auf die östliche Halbkugel verlagert; das britische Weltreich ist Geschichte, die Fließgeschwindigkeit des globalen Wandels hat sich dramatisch beschleunigt und trotz der Lingua Franca erscheint England, vor allem aus asiatischer Sicht, nur noch als kleiner Fleck auf der Weltkarte. Falls die schottische Regierung ihre Absicht durchsetzen und die Unabhängigkeit vom Vereinigten Königreich erreichen sollte, würde sich der Brexit als verhängnisvoller Bumerang erweisen.
Automatic content creation system for augmented reality maintenance applications for legacy machines
(2024)
Augmented reality (AR) applications have great potential to assist maintenance workers in their operations. However, creating AR solutions is time-consuming and laborious, which limits its widespread adoption in the industry. It therefore often happens that even with the latest generation machines, instead of an AR solution, the user only receives an electronic manual for the equipment operation and maintenance. This is commonplace with legacy machines. For this reason, solutions are required that simplify the creation of such AR solutions. This paper presents an approach using an electronic manual as a basis to create fast and cost-effective AR solutions for maintenance. As part of the approach, an application was developed to automatically identify and subdivide the chapters of electronic manuals via the bookmarks in the table of contents. The contents are then automatically uploaded to a central server and indexed with a suitable marker to make the data retrievable. The prepared content can then be accessed for creating context-related AR instructions via the marker. The application is characterized by the fact that no developers or experts are required to prepare the information. In addition to complying with common design criteria, the clear presentation of the contents and the intuitive use of the system offer added value for the performance of maintenance tasks. Together, these two elements form a novel way to retrofit legacy machines with AR maintenance instructions. The practical validation of the system took place in a factory environment. For this purpose, the content was created for a filter change on a CNC milling machine. The results show that inexperienced users can extract appropriate content with the software application. Furthermore, it is shown that maintenance workers, can access the content with an AR application developed for the Microsoft HoloLens 2 and complete simple tasks provided in the manufacturer's electronic manual.
In recent years, machine learning algorithms have made a huge development in performance and applicability in industry and especially maintenance. Their application enables predictive maintenance and thus offers efficiency increases. However, a successful implementation of such solutions still requires high effort in data preparation to obtain the right information, interdisciplinarity in teams as well as a good communication to employees. Here, small and medium sized enterprises (SME) often lack in experience, competence and capacity. This paper presents a systematic and practice-oriented method for an implementation of machine learning solutions for predictive maintenance in SME, which has already been validated.
Our paper investigates the response of acquiring firms’ stock returns around the announcement date in cross-border mergers and acquisitions (M&A) between listed Chinese acquirers and German targets. We apply an event study methodology to examine the shareholder value effect based on a sample of M&A deals over the most recent period of 2012-2018. We apply a market model event study based on the argumentation of Brown and Warner (1985) and use short-term observation periods according to Andrade, Mitchell, and Stafford (2001) as well as Hackbarth and Morellec (2008). The results indicate that the announcement of M&A involving German targets results in a positive cumulative abnormal return of on average 2.18% for Chinese acquirers’ shareholders in a five-day symmetric event window. Furthermore, we found slight indications of possible information leakage prior to the formal announcement. Although it shows that the size of acquiring firms is not necessarily correlated with the positive abnormal returns in the short run, this study suggests that Chinese acquirers’ shareholders gain higher abnormal returns when the German targets are non-listed companies.
The Circular Economy aims to reintroduce the value of products back into the economic cycle at the same value chain level. While the activities of the Circular Economy are already well-defined, there exists a gap in how returned products are treated by the industry. This study aims to examine how a process should be designed to handle returned products in the context of the Circular Economy. To achieve this, a machine learning-based algorithm is used to classify data and extract relevant information throughout the product life cycle. The focus of this research is limited to land transportation systems within the Sharing Economy sector.
This study investigates how integrated reporting (IR) creates value for investors. It examines how providers of financial capital benefit from an improved firm information environment provided by IR. Specifically, this study investigates the effect of voluntary IR disclosure on analyst earnings forecast accuracy as well as on firm value. To do so, we use an international sample of 167 listed companies that voluntarily publish an integrated report. Our analysis shows no significant effect of a voluntary IR publication on analyst earnings forecast accuracy and no significant effect on firm value. We thus do not find evidence for the fulfillment of IR's promises regarding improved information environment and value creation of voluntary adopters. We conclude that such companies might already have a relatively high level of transparency leading to an absent additional effect of IR disclosure. Positive effects of IR appear to be more relevant in environments where IR is mandatory.
Dieser Beitrag analysiert die Reform der IFRS und US-GAAP-Standards zur Bilanzierung von Leasingverhältnissen. Am Beispiel der McKesson Europe AG werden die Auswirkungen der erstmaligen Anwendung der Standards beim Leasingnehmer veranschaulicht. Von besonderem Interesse ist dabei ein Vergleich der Bilanzierungsmodelle nach den "alten" Standards IAS 17 und ASC 840 bzw. nach den "neuen" Standards IFRS 16 und ASC 842. Im Ergebnis zeigt sich keine vollständige Übereinstimmung von IFRS und US-GAAP. Vor allem beim Ausweis in der Gewinn- und Verlustrechnung ergeben sich Unterschiede, die sich auch auf die Ergebniskennzahlen auswirken.