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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 EAT–Lancet planetary health diet (PHD) provides guidelines on a global scale and calls for red meat consumption to be halved. Operational PHD guidelines at country level have yet to be determined. Here we argue that the biological link between milk and bovine-meat production must be considered when operationalizing the globally calculated PHD to national contexts. Using a stylized computer simulation model rooted in a food system approach, we explore the impact of dietary scenarios on milk and bovine-meat production and show that ignoring this biological link can lead to substantial imbalances between national dietary guidelines and production outcomes and potentially lead to food waste. Furthermore, we assess current national dietary guidelines in Europe and find that most disregard this biological link and are incompatible with the PHD, with implications for policymakers and consumers to consider when adapting the PHD in national contexts.
The influence of trust on the adherence to investment recommendations in the context of robo-advisors is under-researched. This relationship needs to be better understood because robo-advice lacks a critical element of trust: human interaction. Theory suggests that ability, integrity, and benevolence are key factors in building trust in human advisors. Using an experimental study design, our research examines the relationship between a robo-advisor's trust attributes and the acceptance of its investment advice. The results show that trust in a robo-advisor increases the propensity to follow its recommendations. While ability and integrity are significant, benevolence is not. The study contributes to the research on technology acceptance, trust, and the adoption of technology-based recommendations by improving the understanding of the relationship between trust and the acceptance of automated investment recommendations.
This article explores current debate on the use of soft power in international higher education, highlighting existing tensions between competing political and academic discourses. It draws on examples from practice and relevant insights in soft power scholarship to capture varying paradoxes and dilemmas that emerge as nations try to leverage the power of international tertiary education to enhance their brand and attract foreign audiences in the name of public diplomacy. Whilst exposing cases of hubris and hidden agendas, this study also addresses issues of inequality and responds to a growing call for knowledge diplomacy aimed at tackling common global problems.
This article examines the risks and societal costs associated with flexible average inflation targeting in the United States and symmetric inflation targeting in the Eurozone. Employing an empirical approach, we analyze monthly cumulative inflation gaps over a monetary policy horizon of 36 months. By investigating the trajectories of the cumulative inflation gaps, we find a heavy tailed distribution and a 20 percent probability of over- and undershooting the inflation target. We exhibit that the offsetting mechanism introduced in the revised monetary strategies lack credibility in ensuring price stability during a period of persistent inflation. Consequently, the credibility of central banks may be compromised. The policy implications are the integration of an escape clause and prompt monetary corrections in cases where the inflation goal is not achieved. This study provides insights for policymakers and central banks, emphasizing challenges in maintaining credibility and price stability within the new monetary strategies.
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.
The Commitment of Traders report (CoT) has been around for over 30 years, consistently revealing the futures positions of key market players. This study's primary aim is to use the comprehensive data from the Commitment of Traders reports to develop a short-term reversal trading strategy. Against the benchmark, a S&P 500 buy-and-hold approach with a Sharpe ratio of 1.07, the CoT long only strategy generated significant results in six individual markets. Extending the strategy to long-and-short, two markets outperformed the benchmark significantly. However, a scenario analysis indicated underperformance of the CoT strategy when traded in a portfolio, confirming that the chosen strategy parameters could not generate excess Sharpe ratios. Our results indicate that the Commodity Futures Trading Commission, more specifically the CoT report, contributed to efficient derivatives market.
In countries such as Germany, where municipalities have planning sovereignty, problems of urban sprawl often arise. As the dynamics of land development have not substantially subsided over the last years, the national government decided to test the instrument of ‘Tradable Planning Permits’ (TPP) in a nationwide field experiment with 87 municipalities involved. The field experiment was able to implement the key features of a TPP system in a laboratory setting with approximated real socioeconomic and planning conditions. In a TPP system allocated planning permits must be used by municipalities for developing land. The permits can be traded between local jurisdictions, so that they have flexibility in deciding how to comply with the regulation. In order to evaluate the performance of such a system, specific field data about future building areas and their impact on community budgets for the period 2014–2028 were collected. The field experiment contains several sessions with representatives of the municipalities and with students. The participants were confronted with two (municipalities) and four (students) schemes. The results show that a trading system can curb down land development in an effective and also efficient manner. However, depending on the regulatory framework, the trading schemes show different price developments and distributional effects. The unexperienced representatives of the local authorities can easily handle with the permits in the administration and in the established market. A trading scheme sets very high incentives to save open space and to direct development activities to areas within existing planning boundaries. It is therefore a promising instrument for Germany and also other regions or countries with an established land-use planning system.
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.
This article provides a stochastic agent-based model to exhibit the role of aggregation metrics in order to mitigate polarization in a complex society. Our sociophysics model is based on interacting and nonlinear Brownian agents, which allow us to study the emergence of collective opinions. The opinion of an agent, x i (t) is a continuous positive value in an interval [0, 1]. We find (i) most agent-metrics display similar outcomes. (ii) The middle-metric and noisy-metric obtain new opinion dynamics either towards assimilation or fragmentation. (iii) We show that a developed 2-stage metric provide new insights about convergence and equilibria. In summary, our simulation demonstrates the power of institutions, which affect the emergence of collective behavior. Consequently, opinion formation in a decentralized complex society is reliant to the individual information processing and rules of collective behavior.
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.
User innovators follow multiple diffusion and adoption pathways for their self-developed innovations. Users may choose to commercialize their self-developed products on the marketplace by becoming entrepreneurs. Few studies exist that focus on understanding personal and interpersonal factors that affect some user innovators’ entrepreneurial decision-making. Hence, this paper focuses on how user innovators make key decisions relating to opportunity recognition and evaluation and when opportunity evaluation leads to subsequent entrepreneurial action in the entrepreneurial process. We conducted an exploratory study using a multi-grounded theory methodology as the user entrepreneurship phenomenon embodies complex social processes. We collected data through the netnography approach that targeted 18 entrepreneurs with potentially relevant differences through crowdfunding platforms. We integrated self-determination, human capital, and social capital theory to address the phenomena under study. This study’s significant findings posit that users’ motives are dissatisfaction with existing goods, interest in innovation, altruism, social recognition, desire for independence, and economic benefits. Besides, use-related experience, product-related knowledge, product diffusion, and iterative feedback positively impact innovative users’ entrepreneurial decision-making.
On 5 May 2020, the Federal Constitutional Court of Germany announced in a momentous ruling that the Public Sector Purchase Programme (PSPP) of the European Central Bank (ECB) exceeds European Union (EU) competences. This decision initiated a lively debate in law and economics all over Europe. This article provides a unique interdisciplinary reading of the ruling in order to clarify the line of argument. Considering a cross-disciplinary view enlightens the understanding of the historic judgment.
Given the increasing internationalisation of higher education, universities compete more and more not only for national but even more for international students. Selecting the best candidates from the pool of international applicants is a challenge. In our study, we analysed which criteria are best to predict the academic performance of students coming from different countries with different education systems, using different grade point average (GPA) standards. Using an administrative data set from an International Business programme at a German university of applied sciences, we explored the predictive power of adjusted high school GPA, IQ test result, interview score and first year grades in English, maths, and statistics.
Traditional communication of research on climate change fails to encourage individual, corporate, and political leaders to take appropriate action. We argue that this problem is based on an overly simplistic unidirectional model of science communication. Conversely, theory shows that active learning processes are better suited to initiate and mobilize engagement among all stakeholders. Here, we integrate theoretical insights on active learning with empirical evidence from serious gaming: communication should be understood as an integral design feature that relates active learning on climate change to tangible action.
This article examines centralised and decentralised approaches towards managing internationalisation by means of a case study. Reutlingen University (Hochschule Reutlingen), a university of applied sciences in Southern Germany, has three decades of experience in managing internationalisation. Its strongly integrated and hybrid approach combines centralised and decentralised strategies with the aim of achieving responsiveness, innovation, transparency, quality, and goal alignment. Centralisation and decentralisation are manifested on two levels: university versus schools, and school versus individual programmes. Since internationalisation is embedded in virtually all areas of the university’s operations, examples will be provided ranging from administration and marketing to research, international programme management and curricula.
Businesses need to cope with myriad challenges including increasingly competitive markets and rapid developments in digital technology. The overall aim of the research described in this paper is to generate fresh insights into the impacts of digitalisation on the design and management of global supply chains. It focuses on understanding the current adoption rate of new technologies in global supply chains, identifying perceived opportunities and challenges and clarifying the critical factors driving (and inhibiting) their deployment. The authors administered an online survey with a global sample of respondents from various supply chain functions, resulting in a sample of 142 responses. Significant differences emerged in adoption patterns between companies of different sizes. Moreover, the study pointed to a widening gap (or a ‘digital divide’) between leaders and laggards in terms of technology adoption. Perceived benefits and challenges also differ notably between companies of varying sizes. Adoption patterns are very diverse across specific technologies. The results further suggest that there is a significant correlation between adoption of digital technologies and different dimensions of company performance.
Customer foresight is a relatively new research field. We introduce the customer foresight territory by discussing it localization between customer research and foresight research. For this purposse, we look at a variety of methods that help to understand customers and future realities. On this basis we provide an overwiew of customer foresight methods and outline an ideal-typical research journey.
Participation in fast fashion brands’ clothes recycling plans in an omnichannel retail environment
(2020)
The rise of the fast fashion industry allows more and more people to participate in fashion consumption, but goes along with negative consequences on the environment. To reduce wastage, fast fashion retailers have begun to offer used clothes recycling plans to which customers can submit clothes they no longer wear. Since these recycling plans have mainly been operated in offline stores so far, the rise of omnichannel retailing poses new challenges on retailers with regard to organizing the plan and motivating consumers to participate. On a sample of N=370 Chinese fast fashion consumers, this paper investigates, which factors determine consumers’ willingness to participate in fast fashion brands’ used clothes recycling plans in an omnichannel retailing environment. It finds that consumers’ clothes recycling intention is determined by individual predispositions (environmental attitude, impulsive consumption), as well as by organizational arrangements (channel integration quality), as well as by the outcomes of their interaction (consumer satisfaction, brand identification). Conclusions are drawn, implications for omnichannel fast fashion retailing practice, as well as for further research, derived, and limitations discussed.
Computers are increasingly used in teams in various contexts, for example in negotiations. Especially when using computer-support for decision making processes, it is an important question whether active collaboration within the team - for example via audio-conference - has additional benefits beyond the supply of full task-relevant information via computer. In team negotiations, team representatives are only able to represent the whole team, if diverse preferences of the team members are aligned prior to the negotiation. In an experimental study with 150 participants, we provided team members with the complete information about each other's preferences during an either collaboratively (computer-mediated) or seperately conducted computer-supported negotiation preparation and subsequently asked them for their priorities as representatives of the team. Our results showed that providing complete task-relevant information via computer is insufficient to compensate for the absence of active collaboration within the team.