Showing papers in "Journal of Business Economics in 2019"
TL;DR: In this paper, the authors present the results of a systematic review of the literature on the collaboration between industry and universities, with the objective of distilling factors that influence the success of such collaborations.
Abstract: Industry–university collaborations (IUCs) have received increased attention in management practice and research. The need for innovation in today’s business environment and the ambition of policymakers to commercialize academic knowledge intensify this trend. However, although research has devoted considerable effort to finding the determinants of success for interfirm collaboration, much less is known about IUCs. This article presents the results of a systematic review of the literature on the collaboration between industry and universities. We perform an extensive analysis of research published on industry–university collaboration projects with the objective of distilling factors that influence the success of such collaborations. We propose a novel conceptual model, which synthesizes our empirical results, and use it to organize and categorize influencing factors and their interrelationship within the collaboration process. Based on our review of existing literature, we identify an agenda for future research in this domain.
164 citations
TL;DR: A literature review of papers published after 2002 in leading international journals indexed in a recognised database (JCR) is conducted in order to identify the different MCDM methods used for aggregating single indicators into composite ones.
Abstract: Composite indicators are increasingly recognised as a useful tool in policy analysis and public communication. They provide simple comparisons of units that can be used to illustrate the complexity of our dynamic environment in wide-ranging fields, such as competitiveness, governance, environment, press, development, peacefulness, tourism, economy, universities, etc. Their construction has been dealt with from several angles. Some authors claim that MCDM techniques are highly suitable in multidimensional frameworks when aggregating single indicators into a composite one, since this process involves making choices when combining criteria of different natures, and it requires a number of steps in which decisions must be made. In this paper, we conduct a literature review of papers published after 2002 in leading international journals indexed in a recognised database (JCR), in order to identify the different MCDM methods used for aggregating single indicators into composite ones. They have been classified in five categories: the elementary methods, the value and utility based methods, the outranking relation approach, the data envelopment analysis based methods and the distance functions based methods. In general, our review has shown a clear tendency towards an increasing number of papers that use MCDM methods to construct composite indicators since 2014.
135 citations
TL;DR: In this paper, the authors provide an overview of the different disciplines of digital transformation research from a holistic business perspective, focusing on three dominant areas in literature: finance, marketing, and innovation management.
Abstract: Digital transformation (DT) has become a buzzword, triggering different disciplines in research and influencing practice, which leads to independent research streams. Scholars investigate the antecedents, contingencies, and consequences of these disruptive technologies by examining the use of single technologies or of digitization, in general. Approaches are often very specialized and restricted to their domains. Thus, the immense breadth of technologies and their possible applications conditions a fragmentation of research, impeding a holistic view. With this systematic literature review, we aim to fill this gap in providing an overview of the different disciplines of DT research from a holistic business perspective. We identified the major research streams and clustered them with co-citation network analysis in nine main areas. Our research shows the main fields of interest in digital transformation research, overlaps of the research areas and fields that are still underrepresented. Within the business research areas, we identified three dominant areas in literature: finance, marketing, and innovation management. However, research streams also arise in terms of single branches like manufacturing or tourism. This study highlights these diverse research streams with the aim of deepening the understanding of digital transformation in research. Yet, research on DT still lacks in the areas of accounting, human resource management, and sustainability. The findings were distilled into a framework of the nine main areas for assisting the implications on potential research gaps on DT from a business perspective.
104 citations
TL;DR: This work characterize extant contributions employing topic models in marketing along the dimensions data structures and retrieval of input data, implementation and extensions of basic topic models, and model performance evaluation, and confirms that there is considerable progress done in various marketing sub-areas.
Abstract: Using a probabilistic approach for exploring latent patterns in high-dimensional co-occurrence data, topic models offer researchers a flexible and open framework for soft-clustering large data sets In recent years, there has been a growing interest among marketing scholars and practitioners to adopt topic models in various marketing application domains However, to this date, there is no comprehensive overview of this rapidly evolving field By analyzing a set of 61 published papers along with conceptual contributions, we systematically review this highly heterogeneous area of research In doing so, we characterize extant contributions employing topic models in marketing along the dimensions data structures and retrieval of input data, implementation and extensions of basic topic models, and model performance evaluation Our findings confirm that there is considerable progress done in various marketing sub-areas However, there is still scope for promising future research, in particular with respect to integrating multiple, dynamic data sources, including time-varying covariates and the combination of exploratory topic models with powerful predictive marketing models
71 citations
TL;DR: In this paper, the authors provide a structured review of empirical studies on the implications of integrated reporting within as well as outside of the organization, concluding that integrated reporting has some positive implications, such as an improvement in data quantity and quality, and an improved collaboration on sustainability issues within the firm.
Abstract: Integrated Reporting (IR) is a fairly new form of corporate reporting that is believed to hold promises for both financial and sustainability reporting. IR goes beyond a mere change in information disclosures and has the potential to influence internal communication processes, strategic considerations and, as a result, decision-making. The simultaneous portrayal of sustainability concerns alongside financial considerations might lead to socially and ecologically advantageous company decisions. A thorough understanding of those factors that potentially mediate the relationship between integrated reporting on one side, and company performance on the other, allows for conclusions on whether integrated reporting substantially affects the way in which companies deal with sustainability issues. To address this question, this article provides a structured review of empirical studies on the implications of integrated reporting within as well as outside of the organization. We reviewed evidence from 32 studies suggesting that integrated reporting has some positive implications, such as an improvement in data quantity and quality as well as an improved collaboration on sustainability issues within the firm. In contrast, our review provided inconclusive results on whether IR advances sustainability performance. We discuss these findings and offer avenues for further research in the field.
49 citations
TL;DR: It is indicated, that firms need strong dynamic capabilities in order to respond to environmental dynamics and this study maps overall 13 critical capabilities and various activities per case and distinguishes between general and new digital capabilities.
Abstract: Little is known what facilitates business model change in response to turbulent environments, particularly how firms can respond to digitization. This is noteworthy, since the emergence of digital technologies opens up the space for new business opportunities and at the same time creates numerous challenges. Motivated by the high practical relevance of the topic and following recent calls for investigating business model change from a dynamic capability lens, we show how and under what conditions firms successfully develop and implement digital business models. Our findings indicate, that firms need strong dynamic capabilities in order to respond to environmental dynamics. Further, we show first empirical insights about the role of organizational context as moderating variable on the relationship between dynamic capabilities and business model change. Dynamic capabilities are only effective, if there is an alignment between strategy, organizational design and appropriate leadership mindset. A further central outcome of the study is our contribution to an in-depth understanding related to the dynamic capability construct and their underlying mechanism. In doing so, we map overall 13 critical capabilities and various activities per case. We were also able to emphasize differences in the way of doing business in the digital age compared to the traditional view. First, we highlight the importance of relational capabilities. Internal networking, cross-divisional exchange and external partnerships increase the potential for a more efficient and effective implementation of digitization initiatives. Second, we distinguish between general and new digital capabilities. This specification allows managers to balance which capabilities to adapt, develop or build up in view of the given requirements on their road to successful digitization.
38 citations
TL;DR: This study investigates the shift from a product-based to a smart service model and the underlying process of decision-making in the context of business model innovation (BMI), and identifies latent conflicts resulting from two different BM logics: the logic of value offering, creation, and capture of the dominant BM versus that of the new one.
Abstract: Established organizations need to adapt their current business models (BMs) to match dynamic changes in their environment. Alternatives to the established BM usually incorporate a different logic of how value is created, offered, and captured. When selecting and implementing the best BM alternative, organizations have to make decisions on several highly uncertain questions: What will the future look like, on what basis should we take action, how do we act under risks and limited resources, and how should we behave in light of unexpected events and towards outsiders. Firms can apply the logic of causation or that of effectuation when making these decisions. In this context, we apply a longitudinal single case study of a manufacturing company encountering a digital transformation journey. In this case study, we investigate the shift from a product-based to a smart service model and the underlying process of decision-making in the context of business model innovation (BMI). From our case study, we identify latent conflicts resulting from two different BM logics: the logic of value offering, creation, and capture of the dominant (established) BM versus that of the new one. We show that logic conflicts become especially visible when actors cannot reduce uncertainty about the new BM effectively. These conflicts finally inhibit the change of the dominant BM to the new one. Sensemaking in the company about the latent logic conflicts within the BMI process reveals the need to change its decision-making logic from managerial causation to intrapreneurial effectuation. The findings from our study contribute to entrepreneurship and institutional theory while highlighting the concept of institutional intrapreneurship for BMI. Our results suggest separating the alternative BM from the existing one. This separation can reduce cognitive uncertainty associated with BMI processes through logic pluralism, i.e., building a new decision-making logic in parallel to the old one. We contribute to the BMI literature by adding logic conflicts of BMI and the decision-making logic of an organization to the list of important contingency factors that influence the execution and outcome of a BMI process.
32 citations
TL;DR: In this paper, the authors argue that the type of dual apprenticeship training seen in Switzerland (or Germany and Austria) does create positive innovation effects due to the VET system's builtin and institutionalized curriculum development and updating processes.
Abstract: Previous studies typically relate apprenticeship training or more generally ‘Vocational Education and Training’ (VET) to training that is highly specific and that uses well-established technologies. Accordingly, apprenticeship training is typically not expected to have positive effects on innovation. In contrast, we argue in this paper that the type of dual apprenticeship training seen in Switzerland (or Germany and Austria) does create positive innovation effects due to the VET system’s built-in and institutionalized curriculum development and updating processes. These processes ensure that firms participating in apprenticeship training gain access to knowledge that is close to the innovation frontier and that ultimately fosters innovation. We provide theoretical explanations of how this knowledge diffusion works and how it can help to generate innovation. We use the Swiss VET system as one example and derive hypotheses about the relationship between firms’ participation in apprenticeship training and their innovation outcomes. Empirical analyses support our hypotheses. In a VET system with a built-in curriculum-updating process like the one in Switzerland (or Germany), firms participating in apprenticeship training have higher innovation outcomes than do non-participating firms.
27 citations
TL;DR: The findings show that enterprise social media platforms address both work environment dimensions by enabling collaboration, as well as networking among employees, and find that employees who collaborate and network via Enterprise Social Media platforms, increase their work performance by becoming more efficient and also more innovative.
Abstract: Today’s organizations increasingly implement enterprise social media platforms to provide a digital work environment. Hereby, organizations expect various benefits, such as improved employee performance. In our research, we aim at uncovering how the introduction of enterprise social media platforms can support creating a digital work environment and how this digital work environment can influence an employee’s performance. To answer these research questions, we perform a survey-based investigation among 247 employees of an international financial corporation headquartered in Germany. For our investigation, we conceptualize that a digital work environment must consist of a task and a social dimension. Our findings show that enterprise social media platforms address both work environment dimensions by enabling collaboration, as well as networking among employees. We also find that employees who collaborate and network via enterprise social media platforms, increase their work performance by becoming more efficient and also more innovative. We find that networking’s impact on an employee’s innovativeness is significantly stronger than that of collaboration. Finally, we show that our research contributes to the literature by, for example, shedding light to the relationship between ESM use and employee performance. Furthermore, by showcasing the relevant ESM platform functionalities that influence the collaboration and networking impacts, we provide insights to the actual IT artifact. Building on this, our study also yields various practical implications, such as proving which of the ESM functionalities are essential when increasing the employees’ collaboration and networking, and ultimately increasing their performance.
24 citations
TL;DR: In this paper, a system dynamics model is proposed to include the influences of governmental, shareholder, and other external stakeholder pressure on sustainable supply chain management (SSCM) performance, which results from the interplay of dynamic capabilities (DCs) and SSCM practices.
Abstract: Dynamic capabilities (DCs) are crucial for companies to attain competitive advantage in dynamic business environments and supply chains, where environmental and social aspects are considered by sustainable supply chain management (SSCM). However, the effects of stakeholder influences on SSCM performance, which results from the interplay of DCs and SSCM practices, need to be analyzed. Therefore, a system dynamics (SD) model is proposed to include the influences of governmental, shareholder, and other external stakeholder pressure. The system behavior, i.e., the company’s SSCM performance, can thus be analyzed in face of varying time delays of stakeholder influences. Findings indicate that different intensities of stakeholder influences affect the development of SSCM practices and DCs of a focal company, and thus, overall SSCM performance. Consequently, intensities of stakeholder influences should be managed accordingly, while the impact of time delays has to be understood to control SSCM performance. The insights gained from the model support the decision- and policy-making, which can be considered from the perspective of the focal company, the regulatory authorities, the shareholders, and other external stakeholders that ultimately translate into customer pressure.
24 citations
TL;DR: The cost saving potential is analyzed by considering energy in the lot-sizing and scheduling problem compared to classical planning approaches and appropriate frame conditions are investigated within a structured parameter analysis.
Abstract: The demand for electrical power in industrial production processes often leads to increasing energy costs for companies. In the course of a more sustainable power generation in the future, companies are faced with time-dependent energy prices, which have the potential to influence energy costs significantly. In order to manufacture the products at minimal decision-relevant total costs, planning approaches for production scheduling have to consider energy costs. To date, time-dependent energy prices are only considered in few production planning approaches in the field of job-shop scheduling and in some individual planning approaches in the field of simultaneous lot-sizing and scheduling. Up to now, a general model formulation for the consideration of time-dependent energy prices in lot-sizing and scheduling and an investigation of appropriate conditions for an energy-oriented production planning is missing. In this contribution, the energy-oriented general lot-sizing and scheduling problem is introduced as an extension of the respected general lot-sizing and scheduling problem. The cost saving potential is analyzed by considering energy in the lot-sizing and scheduling problem compared to classical planning approaches and appropriate frame conditions are investigated within a structured parameter analysis. In the numerical study, this leads to a total cost saving potential about 1.04% and an energy cost saving potential about 9.69%. In particular, a high volatility of the energy prices and a direct transfer of this volatility in form of short periods of constant energy prices increase this cost saving potential.
TL;DR: In this article, the authors argue that analysts are biased towards status quo-preserving technologies only until external pressure occurs, which is impactful enough to change their inertial assessments.
Abstract: The size and pace of the digital transformation make investments in digitalization for firms of all sizes and in all industries inevitable. Besides the potential tremendous advantages arising from the application and consideration of newly available technologies, these investments are inherently associated with a high level of uncertainty. While costs being substantial, the benefits might not accrue within the near future or at all. The technological change literature has explored the reactions of incumbent firms and their ability to adapt during times of technological transformation; however, very few studies within this stream have considered external factors, such as the potential pressure arising from securities analysts, who fulfill an information brokerage function for investors. Previous findings portray analysts as opponents of cash consuming investments, such as firms’ adaptations to technological change. We enlarge this view by arguing that analysts are biased towards status quo-preserving technologies only until external pressure occurs, which is impactful enough to change their inertial assessments. We hence hypothesize that in the digital age, analysts’ reactions to firms’ digitalization efforts become increasingly less unfavorable. Since no industry is impervious to these changes, we use a large sample of publicly traded German firms over 12 years and find empirical evidence for our hypotheses. Ultimately, analysts even reward firms that proactively responded to these challenges. This work contributes to research on analysts, technological change, and firms’ strategic choices. Our study offers a novel approach to measure firms’ digitalization efforts as well as insights for managers who react upon new technologies.
TL;DR: The role and influence of information technology in firms' business and value creation remains controversial as mentioned in this paper, and the question of how technology can drive service innovations is especially crucial in highly competitive and rapidly developing areas such as digital platforms but not well understood.
Abstract: The role and influence of information technology in firms’ business and value creation remains controversial. The question of how technology can drive service innovations is especially crucial in highly competitive and rapidly developing areas such as digital platforms but not well understood. This study investigates the role of information technology in service innovation in sharing economy organizations. These organizations are digital platforms that combine physical and digital service elements. Adopting a service-dominant logic perspective, we conduct an interpretive multiple-case study to gain a deeper understanding of the types of service innovation in this area and the different roles that IT can play in these initiatives. Our findings reveal different manifestations of service innovation and thereby help to identify previously unexplored interdependencies between the service ecosystem and value co-creation. We furthermore find that organizations’ choices regarding the role of IT are dependent on the level of heterogeneity and standardization of the mediated transactions. We derive four archetypes for the role of IT in service innovation that explain how and why sharing economy organizations exploit IT. We then translate our findings into practical guidelines for managers of digital platforms.
TL;DR: In this article, the authors analyzed data of more than 700 European new ventures that focus on important technologies and found that the temporal distance to the peak of a technology wave is a significant antecedent of new venture success.
Abstract: Studies regarding new venture success and failure are at the forefront of entrepreneurship research. While individual factors are extensively investigated and revealed as antecedents of new venture success, organizational and environmental factors are rather underrepresented in research. Especially a missing market need or a mistimed market entry are shown in practical surveys to be key determinants of new venture failure. However, research has rarely incorporated these aspects. This study aims to extend research on new venture success by investigating the effects of new venture market entry timing. Furthermore, we differentiate the timing effects depending on the geographical context. To this end, we analyze data of more than 700 European new ventures that focus on important technologies. Combining the concepts of the diffusion of innovations and technology acceptance, we argue that the amount of new ventures, covering a certain technology over time, proceeds as a technology wave. Building on these technology waves, this study shows that the timely positioning of new ventures within those waves determine their success. Moreover, building on uncertainty avoidance literature, we reveal that the aforementioned relation varies depending on the uncertainty avoidance level of a geographical region. We find the temporal distance to the peak of a technology wave to be a significant antecedent of new venture success. Whereas this negative relationship is mitigated by below median uncertainty avoidant regions, new ventures in contexts of above median uncertainty avoidance are likely to show a lower success. With these results, we contribute to entrepreneurship and technology acceptance literature.
TL;DR: This research contributes to the discussion of optimizing the degree of digitalization employed or promoted in organization and establishes the link between the digitalized work setting, observed behavior, and its reasons.
Abstract: Digitalization has tremendous positive, but also negative potential for the organization and individual employees. The basic question therefore is how to design a digitalized environment that fosters idea generation and development and ensures good working practices of employees. In order to understand the requirements for the latter, the current implications of digitalization on employees have to be understood. This is of specific importance for expert organizations as these are dependent on product and service innovation as competitive advantage. In this paper, we focus on the antecedents of a very specific outcome of digitalization related to employee behavior with postulated influence on innovative capacity: extended availability and subsequent insufficient detachment with its potential consequences. Since the drivers and the extent of extended availability for work have not been sufficiently researched so far, the basis for developing solutions is incomplete. In this paper, we therefore investigate the working habits and reasons related to extended work related availability. Based on a quantitative investigation in three steps and using structural equation modelling, we show the interaction between the drivers of extended availability and the resulting additional time spent for working in expert organizations. By doing so, our research contributes to the discussion of optimizing the degree of digitalization employed or promoted in organization and establishes the link between the digitalized work setting, observed behavior, and its reasons.
TL;DR: In this paper, various vehicle fleets with differently sized EVs and CVs are considered for vehicle routing, and the effect of increasing the battery capacity of EVs is investigated and the characteristics of mixed fleets are investigated.
Abstract: Electric vehicles (EVs) and combustion-powered vehicles (CVs) differ substantially with respect to several characteristic factors that have major impacts on vehicle routing. EVs are more energy efficient than CVs, but they have a shorter driving range, and compared to CVs with the same gross weight, they have a lower payload. In this paper, various vehicle fleets with differently sized EVs and CVs are considered for vehicle routing. First, EVs are opposed to CVs. Second, the effect of increasing the battery capacity of EVs is investigated. Third, the impact of introducing recharge stations for EVs is analyzed. Finally, the characteristics of mixed fleets are investigated. The computational results are generated by solving a MIP formulation of the introduced Energy Vehicle Routing Problem with Time Windows, Recharge Stations and Vehicle Classes (EVRPTW-R-VC) by means of a commercial solver.
TL;DR: In this article, a structured framework is developed to classify and evaluate Cultural Finance papers past to present and assess the added value of Cultural Finance as a discipline, since already well-researched questions in traditional finance can now be reconsidered more precisely in a new cultural light.
Abstract: Academic interest in cultural influences on financial decision-making has risen in the last decade leading to a considerable number of literature contributions in this field. However, the discipline of Cultural Finance is a very young and yet unstructured research niche with its added value being rather opaque than clearly defined. In this paper, we try to contribute to the enhancement of this research niche by (1) developing a structured framework in order to (2) systematically classify and evaluate Cultural Finance papers past to present. Based on the literature survey, we (3) deduct the main research subjects so far, and (4) assess the added value of Cultural Finance as a discipline. Concerning the latter, we find that Cultural Finance displays a revisiting function, since already well-researched questions in traditional finance can now be reconsidered more precisely in a new cultural light. Furthermore, Cultural Finance unfolds a supplementing function for broader concepts like Sustainable Finance by assessing the impact of social preferences on financial decision-making. In order to explore these two functions, we show that the less applied cultural dimensions of Schwartz are in favor of the more prominent Hofstede approach. We conclude that Cultural Finance as a discipline incorporates a pioneer role by delivering an approach that is able to cope with the challenges of financial decision-making against a multi-dimensional goal function of prosocial decision-makers.
TL;DR: A German dictionary designed to measure the textual sentiment of business communication is created, based on the English dictionary by Loughran and McDonald, and compared to German general language dictionaries and to a machine-learning procedure to provide evidence for its ability to capture market-relevanttext sentiment of German business communication.
Abstract: Computer-aided text analyses have gained a lot of attention recently. Applied to different types of business communication such as earnings announcements, analyst reports, or IPO prospectuses, they have been used to extract relevant information for financial market participants. A large number of studies employ dictionary-based approaches by referring to specific word lists. Since these lists have been predominantly compiled for the English language, the respective analyses have focused on English business texts. In order to amplify the application of content analyses to other languages, we create a German dictionary designed to measure the textual sentiment of business communication. Our dictionary is based on the English dictionary by Loughran and McDonald (J Finance 66:35–65. https://doi.org/10.1111/j.1540-6261.2010.01625.x
, 2011), which is commonly used for examining finance- and accounting-specific texts. We discuss the set-up of our dictionary and extensively test its quality. We further compare our dictionary to German general language dictionaries and to a machine-learning procedure and provide evidence for its ability to capture market-relevant textual sentiment of German business communication.
TL;DR: In this article, a model of bank customers' ethical decision-making process in choosing between ethical and conventional banks is developed, based on multiple established models from the extant literature, and this theoretical model is evaluated using data from an online-survey and partial least squares structural equation modelling.
Abstract: Although the banking industry is increasingly focused on the issue of sustainability, the market share held by ethical banks remains small. This study applies models of ethical decision-making to investigate the reasons why customers choose conventional rather than ethical banks, and vice versa. Firstly, a model of bank customers’ ethical decision-making process in choosing between ethical and conventional banks is developed, based on multiple established models from the extant literature. Secondly, this theoretical model is evaluated using data from an online-survey and ‘partial least squares structural equation modelling’. This reveals that the primary factors discouraging potential customers from selecting an ethical rather than conventional bank are a lack of information, limited pressure of the social context, weak moral intensity, and a perception that ethical banks are economically disadvantageous. However, the good reputation of ethical banks, a high concern for the topic, and low levels of skepticism, all indicate a positive general opinion of ethical banks. These results suggest that more factual information and emotional charging of the topic of ethical banking would strengthen demand. In terms of theory, our analysis shows how general models of ethical decision-making can be tailored for use in specific contexts and suggests that the integration of multiple established ethical decision-making models is sensible. Furthermore, we suggest that reputation and economic benefit—which we include here as domain-specific extensions of established ethical decision-making models—are concepts to consider for a general context-independent extension of ethical decision-making models.
TL;DR: In this paper, the effect of live transmissions of football matches on spectator demand in European football has been extensively studied over the years, although with little focus on the smaller leagues, by deploying robust panel data regression models on Danish first tier (Superligaen) data.
Abstract: The effect of live transmissions of football matches on spectator demand in European football has been extensively studied over the years, although with little focus on the smaller leagues. By deploying robust panel data regression models on Danish first tier (Superligaen) data from 2010/11 to 2015/16, this paper contribute to filling this gap. We find that matches clashing with English Premier League (EPL) broadcasts do not suffer in attendance and that weather is an important driver of demand.
TL;DR: In this paper, the authors analyzed the impacts of increasing self-generation and self-consumption on the electricity price components, and showed that policy makers can strongly influence PV feed-in and selfconsumption levels, as well as the resulting electricity price.
Abstract: In recent years, more than half of the household PV systems in Germany were installed with battery storage systems to self-consume a higher share of the electricity produced. This development will have a large impact on the share of energy purchased from the electricity grid and this, in turn, will affect the distribution of the cost components of the household electricity price. This contribution therefore analyzes the impacts of increasing self-generation and self-consumption on the electricity price components. To obtain the nation-wide self-consumption potential, the results of a techno-economic optimization model on household system level are scaled up to all (semi-) detached houses in Germany. The additional PV feed-in remuneration and lacking contributions to the different taxes and levies are reallocated to the (remaining) electricity consumption from the grid. Changes in the regulatory framework, such as the abolishment of feed-in tariffs, a self-consumption charge, and different allocation schemes for the grid charges, are examined. The results indicate that under the current regulatory framework conditions, less than one third of the potential electricity price increase stems from self-consumption, while remuneration through feed-in tariffs has a much higher impact. Furthermore, the effects of self-consumption on the electricity price seem to be higher with capacity-based grid charges, because the contributions of PV storage owners to the grid charges are reduced through peak shaving with battery storage systems. Our findings also show that policy makers can strongly influence PV feed-in and self-consumption levels, as well as the resulting electricity price.
TL;DR: In this paper, a framework for dimensioning production lot sizes, based on both economic and energy implications in processes characterized by a variable production rate, is proposed, and an increased attention for the sustainability of the production-inventory system is introduced by considering energy as a key factor in the lot sizing problem.
Abstract: The increased awareness on sustainability, along with several governments’ actions for setting greenhouse gas restrictions, has recently generated a relevant pressure on industries towards the improvement of environmental performances. Among the several aspects, companies’ focus is mainly on energy use, firstly for its relevant and direct impact on the total cost, and secondly for its environmental linkage. The aim of this contribution is the integration of the energy-related objectives in lot sizing, extending the economic production quantity from the manufacturer point of view and extending the joint economic lot size model from the single-vendor single-buyer supply chain perspective, so as to show how this approach can lead to a more sustainable production process. The present work proposes a novel framework for dimensioning production lot sizes, based on both economic and energy implications in processes characterized by a variable production rate. Furthermore, an increased attention for the sustainability of the production–inventory system is introduced by considering energy as a key factor in the lot sizing problem, due to the close link between energy and environmental concerns. A traditional agreement and a vendor managed inventory with consignment stock for the joint economic lot sizing have been investigated explicitly formulating energy in production aspects. A numerical example is also presented to compare the behaviour of the models.
TL;DR: A review of the relevant literature and conduct a content and cluster analysis to propose a classification of present and future research is provided in this article, highlighting gaps in the existing literature, providing a road-map for further research.
Abstract: Various legal requirements as well as economic
reasoning render the re-use of products mandatory. Hence, the field of supply chain management and coordination under the consideration of returns has constantly grown over the last decade. However, terms and definitions regarding returns and returns handling are inconsistent. Furthermore, approaches are not classified from a return-based point of view, which considerably impedes the discerning of research opportunities. We therefore provide a state-of-the-art review of the relevant literature and conduct a content and cluster analysis to propose a classification of present and future research. Furthermore, we highlight gaps in the existing literature, providing a road-map for further research. Practitioners are given an extensive overview regarding a multitude of approaches in returns management and coordination.
TL;DR: In this article, the authors found that researchers' age matters for their publication patterns: more experienced researchers are less productive with respect to journal articles, but more productive in other publication forms.
Abstract: Since the 1990s, research on publication outputs in business and economics has almost exclusively focused on journal articles. While earlier work has shown that journal articles and other publications were indeed complements in the 70s and 80s, we find that this is no longer the case when we include the most recent decades. Apparently, the notable shift in the scientific community’s attention in the 90s on journal articles and the corresponding incentives towards publications in internationally highly ranked journals on average led researchers to focus one-sidedly on journal publications at the expense of other publication forms. To see whether the aggregate result also holds for individual researchers, we perform a cluster analysis and find four different types of individual researchers: “Journal Specialists”, “Book-Based Publishers”, a small group of “Highly Productive All-round Publishers” and a large group of what we call “Inconspicuous” researchers, with a very modest publication productivity in all forms. In addition, we find that researchers’ age matters for their publication patterns: in our sample, more experienced researchers are less productive with respect to journal articles, but more productive with respect to other publication forms. This, however, is not the result of an individual career effect. Rather, it can be attributed to a cohort effect: among today’s active researchers, the younger cohorts are more productive in journal articles than the older ones. Our explanation is as follows: the younger cohorts were still in their socialization and hiring phase and were more strongly affected by the newly introduced incentives towards international journal publications—and have thus reacted more strongly to the “regime change” resulting from the scientific community’s one-sided attention to publications in internationally highly ranked journals.
TL;DR: In this article, the authors investigated the effect of Chinese firms' patent acquisition on the acquirer's innovation performance and found that several acquisition-specific factors have a positive effect on the post-acquisition patent output (e.g., size of the acquired knowledge base, relatedness of acquired knowledge bases, cross-border acquisitions).
Abstract: Acquisitions by Chinese firms have increased markedly in recent years So far, we know little about the effects of these acquisitions on the acquirer’s innovation performance Our paper focuses on two interrelated research questions First, to what extent can Chinese firms increase their patent output following an acquisition? Second, which factors influence the post-acquisition patent output? Using a comprehensive dataset of 697 publicly listed Chinese firms in the manufacturing sector that conducted 1545 acquisitions from 2000 to 2012, we find no significant overall effect of acquisitions on patent output However, we find that several acquisition-specific factors have a positive effect on the post-acquisition patent output (eg, size of the acquired knowledge base, relatedness of the acquired knowledge base, cross-border acquisitions) Our study extends prior research on post-acquisition innovation performance to the context of Chinese acquirers
TL;DR: General theorems for convex production possibility sets, convex cost functions, and concave benefit functions are proven, and it is shown that some technological assumptions, which are usual in economics and data envelopment analysis, are unessential for efficiency measurement or even unrealistic, whereas a newly introduced axiom of value disposability may be reasonable.
Abstract: Multi-criteria production theory is a generalization of traditional production theories that can be utilized to expand knowledge on the theory and practice of non-financial performance analysis. Based on decision theory, its main idea is the capability of strictly distinguishing technologically determined inputs and outputs of a production system’s activity from its desired or undesired impacts on artificial or natural environments in the form of generalized benefits and costs. For the special cases of linear and of monotonic multiple cost and benefit functions, a recent paper in this journal proves first main propositions and applies them to some topics often discussed in the literature. This paper extends these results. General theorems for convex production possibility sets, convex cost functions, and concave benefit functions are proven, and it is shown that some technological assumptions, which are usual in economics and data envelopment analysis, particularly those on strong disposability, are unessential for efficiency measurement or even unrealistic, whereas a newly introduced axiom of value disposability may be reasonable.
TL;DR: In this article, the authors explore the dispersion of bonus payments of managers within and between five large firms from the German chemical sector and disentangle their dispersion within and within levels of the hierarchy.
Abstract: We explore the dispersion of bonus payments of managers within and between five large firms from the German chemical sector and disentangle the dispersion within and between levels of the hierarchy. We use data from a yearly salary survey in these firms during the observation period 2008 to 2013. Bonus payments account for one quarter of yearly base salaries on average. Both the amount and the dispersion of bonus-to-base ratios differ across firms. We disentangle the dispersion between and within the levels of firms’ hierarchies. Revealed differences, which are consistent with differences in firms’ value statements, suggest that there is no one best incentive system of a firm.
TL;DR: In this article, the authors apply resource-based theorizing to determine how pollution prevention and product stewardship affect the likelihood that a firm will adopt firm-internal environmental management standards and how such standards relate to organizational performance.
Abstract: Firms’ environmental approaches frequently encompass strategies for pollution prevention and product stewardship. We apply resource-based theorizing to determine how these two strategies affect the likelihood that a firm will adopt firm-internal environmental-management standards and how such standards relate to organizational performance. We find that pollution prevention improves firms’ competitiveness by enabling the implementation of firm-internal standards that subsequently have positive effects on profitability.
TL;DR: An approach is presented which allows to calculate the potential sub-unit efficiency of a decision making unit by taking into account the possible impact of its sub-units’ aggregation without having disaggregated sub- unit data.
Abstract: The paper deals with benchmarking cases where highly aggregated decision making units are in the data set. It is shown that these units—consisting of sub-units which are not further known by the evaluator—are likely to receive an unjustifiable harsh evaluation, here referred to as aggregation bias. To counter this bias, we present an approach which allows to calculate the potential sub-unit efficiency of a decision making unit by taking into account the possible impact of its sub-units’ aggregation without having disaggregated sub-unit data. Based on data envelopment analysis, the approach is operationalized in several ways. Finally, we apply our method to the benchmarking model actually used by the Brazilian Electricity Regulator to measure the cost efficiency of the Brazilian distribution system operators. For this case, our results reveal that the potential effect of the aggregation bias on the operators’ efficiency scores is enormous.
TL;DR: The proposed interactive approach utilizes elements of the synchronous NIMBUS method and is aimed at supporting the decision maker to consider the objective function values and the robustness of a solution simultaneously.
Abstract: We propose an interactive approach to support a decision maker to find a most preferred robust solution to multiobjective optimization problems with decision uncertainty. A new robustness measure that is understandable for the decision maker is incorporated as an additional objective in the problem formulation. The proposed interactive approach utilizes elements of the synchronous NIMBUS method and is aimed at supporting the decision maker to consider the objective function values and the robustness of a solution simultaneously. In the interactive approach, we offer different alternatives for the decision maker to express her/his preferences related to the robustness of a solution. To consolidate the interactive approach, we tailor a visualization to illustrate both the objective function values and the robustness of a solution. We demonstrate the advantages of the interactive approach by solving example problems.