Uschi Backes-Gellner, Güldem Demirer, Rolf Sternberg, Individuelle und regionale Einflussfaktoren auf die Gründungsneigung von Hochschülern, In: Unternehmensgründungen, Physica, Regensburg, p. 63 - 96, 2002. (Book Chapter)
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Arndt Werner, Uschi Backes-Gellner, Gunter Kayser, Zur Überwindung von Kreditrestriktionen in der Gründungsphase - innovative und nicht-innovative Unternehmen im Vergleich, Jahrbuch zur Mittelstandsforschung, IfM Bonn (2), 2002. (Journal Article)
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Corinna Schmidtke, Uschi Backes-Gellner, Betriebliche Strategien gegen Fachkräftemangel, (257), 2002. (Journal Article)
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Axel Schlinghoff, Uschi Backes-Gellner, Publikationsindikatoren und die Stabilität wirtschaftswissenschaftlicher Zeitschriftenrankings, Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, Vol. 54, 2002. (Journal Article)
The output of single researchers or departments can be measured by the number of publications in journals. Due to heterogenity in the quality of journals the publications must be weighted. The quality of a journal can be determined on the basis of citation analysis, by reputation or by the quality of the review process. We present rankings of German business and economics journals based on citation analysis for the last three decades of the twentieth century respectively. If used for decision making in universities journal rankings must be robust in respect to method and over time. Using correlation analysis we find that rankings of German business journals are very robust in respect to both method and time. Rankings of German economics journals are not as robust as business journals but still show positive correlations over time and with different methods. |
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Frank Maass, Uschi Backes-Gellner, Determinanten der Kooperationstätigkeit im Bereich der Forschung und Entwicklung (FuE) - Eine vergleichende Analyse der Neuen und Alten Bundesländer, Jahrbuch zur Mittelstandsforschung, IfM Bonn, Vol. 1, 2002. (Journal Article)
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Uschi Backes-Gellner, Rosemarie Kay, Materielle Mitarbeiterbeteiligung - eine Option für den Mittelstand?, Jahrbuch zur Mittelstandsforschung, Vol. 1, 2002. (Journal Article)
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Carmen Tanner, S Wölfing Kast, Von Antiökologen und Musterökologen: Optionen und Restriktionen des ökologischen Lebensmitteleinkaufs, In: Transdisziplinäre Forschung in Aktion : Optionen und Restriktionen nachhaltiger Ernährung : Themenband Schwerpunktprogramm Umwelt Schweiz, Hochschulverlag, ETH Zürich, Zürich, p. 53 - 102, 2002. (Book Chapter)
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Sybille Wölfing Kast, Carmen Tanner, Restriktionen und Ressourcen nachhaltiger Einkaufsgewohnheiten: Segmentierung Schweizer Konsumenten und Konsumentinnen, Umweltpsychologie, Vol. 6 (2), 2002. (Journal Article)
Based on a strategy that searches for target groups, the study is aimed at detecting distinct consumer segments that differ regarding personal and contextual contributions or barriers to green food purchases. The theoretical framework taken is an alternative perspective of environmental behavior which holds that behavioral choices are typically restricted by a host of constraints. The segmentation is based on dimensions that have been identified as prevalent factors of green food purchases in a survey with Swiss households. These dimensions are: 1) attitudes toward environmental protection, 2) toward fair trade and 3) toward regional production; 4) perceived time barriers; 5) action-related knowledge and 6) frequency of supermarket use to buy food products. Regarding the market segments, the results revealed between the two extreme subgroups – the anti-ecologists and the ideal ecologists – several groups that are susceptible to a mixture of barriers and contributions to green purchases. Applied implications about how to enhance consumer’s demand of green products and how sellers can adopt are discussed. |
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Thorsten Hens, Klaus Reiner Schenk-Hoppé, Martin Stalder, An application of evolutionary finance to firms listed in the Swiss Market Index, Swiss Journal of Economics and Statistics = Schweizerische Zeitschrift für Volkswirtschaft und Statistik, Vol. 138 (4), 2002. (Journal Article)
This paper presents an application of evolutionary portfolio theory to stocks listed in the Swiss Market Index (SMI). We study numerically the long-run outcome of the competition of rebalancing rules for market shares in a stock market with actual dividends taken from firms listed in the SMI. Returns are endogenous because prices are determined by supply and demand stemming from the rebalancing rules. Our simulations show that in competition with rebalancing rules derived from Mean-Variance Optimization, Maximum Growth Theory and Behavioral Finance, the evolutionary portfolio rule discovered in Hens and Schenk-Hoppe (2001) will eventually hold total market wealth. According to this simple rule the portfolio weights should be proportional to the expected relative dividends of the assets. |
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Michel Habib, Alexander Ljungqvist, Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence, In: New research in corporate finance and banking, Oxford University Press, New York, p. 117 - 145, 2002. (Book Chapter)
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Martin Natter, Markus Feurstein, Real world performance of choice-based conjoint models, European Journal of Operational Research, Vol. 137 (2), 2002. (Journal Article)
Conjoint analysis is one of the most important tools to support product development, pricing and positioning decisions in management practice. For this purpose, various models have been developed. It is widely accepted that models that take consumer heterogeneity into account, outperform aggregate models in terms of hold-out tasks. The aim of our study is to investigate empirically whether predictions of choice-based conjoint models which incorporate heterogeneity can successfully be generalized to a whole market. To date no studies exist that examine the real world performance of choice-based conjoint models by use of aggregate scanner panel data. Our analysis is based on four commercial choice-based conjoint pricing studies including a total of 43 stock keeping units (SKU) and the corresponding weekly scanning data for approximately two years. An aggregate model serves as a benchmark for the performance of two models that take heterogeneity into account, hierarchical Bayes (HB) and latent class (LC). Our empirical analysis demonstrates that, in contrast to the performance using hold-out tasks, the real world performance of HB and LC is similar to the performance of the aggregate model. Our results indicate that heterogeneity cannot be generalized to a whole market and suggest that aggregate models are sufficient to predict market shares (MSs). |
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Martin Natter, Andreas Weber, Heinz Bach, Andreas Mild, A Multivariate Regression Model for Waste Glass Prediction, Forum Ware International, Vol. 30, 2002. (Journal Article)
In this paper, the authors develop a model to predict collected amounts of glass at the regional level of municipalities. Learning about the factors that influence the amount of collected glass is a prerequisite for the evaluation and reorganisation of collection systems. Furthermore, such a model provides essential input for decisions like restructuring activities, implementation of legal directives or investments into new recycling plants. The authors hypothesise that the amount of collected glass depends on both, the waste glass potential and factors which influence the convenience such as the density of collection sites. The authors develop a multivariate regression model providing valuable insights about the relationship between demographic parameters and the amount of collected waste glass, as well as between logistic parameters and collected waste glass. The aim of such a model is the identification of parameters which significantly influence the amount of collected waste in order to provide decision makers with a tool for accurate planning. A significant positive impact of the logarithmic number of collection sites on the amount of waste glass collected was found. A significant impact of the percentage of city area, overnight stays per person, percentage of employees in the service sector, indices of purchasing power and percentage of alpine area were identified. The model explains the amount of collected waste glass and can help to estimate the waste glass potential. |
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Andreas Mild, Martin Natter, Collaborative filtering or regression models for internet recommendation systems?, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 10 (4), 2002. (Journal Article)
The literature on recommendation systems indicates that the choice of the methodology significantly influences the quality of recommendations. The impact of the amount of available data on the performance of recommendation systems has not been systematically investigated. The authors study different approaches to recommendation systems using the publicly available EachMovie data set containing ratings for movies and videos. In contrast to previous work on this data set, here a significantly larger subset is used. The effects caused by the available number of customers and movies as well as their interaction with different methods are investigated. Two commonly used collaborative filtering approaches are compared with several regression models using an experimental full factorial design. According to the findings, the number of customers significantly influences the performance of all approaches under study. For a large number of customers and movies, it is shown that simple linear regression with model selection can provide significantly better recommendations than collaborative filtering. From a managerial perspective, this gives suggestions about the selection of the model to be used depending on the amount of data available. Furthermore, the impact of an enlargement of the customer database on the quality of recommendations is shown. |
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Thorsten Hens, Beate Pilgrim, General equilibrium foundations of finance: structure of incomplete markets, Springer, New York, NY, 2002. (Book/Research Monograph)
The purpose of this book is to give a sound economic foundation of finance. Finance is a coherent branch of applied economics that is designed to understand financial markets in order to give advice for practical financial decisions. This book argues that for a sound economic foundation of finance the famous general equilibrium model which in its modern form emphasizes the incompleteness of financial markets is well suited. The aim of the book is to demonstrate that financial markets can be meaningfully embedded into a more general system of markets including, for example, commodity markets. The interaction of these markets can be described via the well known notion of a competitive equilibrium. We argue that for a sound foundation this competitive equilibrium should be unique. In a first step we demonstrate that this essential goal cannot of be achieved based only on the rationality principle, i. e. on the assumption utility maximization of some utility function subject to the budget constraint. In particular we show that this important lack of structure is disturbing as well for the case of mean-variance utility functions which are the basis of the Capital Asset Pricing Model, one of the cornerstones of finance. The final goal of our book is to give reasonable restrictions on the agents' utility functions which lead to a well determined financial markets model. |
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Ronald W Anderson, Kjell G. Nyborg, Agency and the pace of adoption of new techniques, Recherches Economiques de Louvain, Vol. 68 (1), 2002. (Journal Article)
We study the relation of financial development and the pace of technological advance in a dynamic agency theoretic model. A firm which is financed by outside shareholders but run by managers has the prospect of a process innovation which arrives stochastically. Adopting the innovation requires firing old management and hiring new with skills appropriate for the new technique. We show that subgame perfect equilibria in this game can be of two types. In entrenchment equilibrium once the new techniques has been announced old style management raises their dividend payout sufficiently to pre-empt the innovation. In maximum rent extraction equilibrium managers are unable or unwilling to match the impending productivity improvement and instead respond by increasing their perquisites for the remaining time of their tenure. We show that both equilibria involve several types of inefficiencies and can result in underinvestment in positive NPV projects. We discuss the role of financial innovation in reducing the inefficiencies identified. |
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André C. Wohlgemuth, Das Beratungskonzept der Organisationsentwicklung : Neue Form der Unternehmungsberatung auf Grundlage des sozio-technischen Systemansatzes., Haupt, Bern, 2002. (Book/Research Monograph)
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Hans Degryse, Steven Ongena, Bank-firm relationships and international banking markets, International Journal of the Economics of Business, Vol. 9 (3), 2002. (Journal Article)
This paper reviews how long-term relationships between firms and banks shape the structure and integration of banking markets worldwide. Bank relationships arise to span informational asymmetries that are endemic in financial markets. Firm-bank relationships not only entail specific benefits and costs for both the engaged firms and banks, but also directly affect the structure of banking markets. In particular, the sunk cost of screening and monitoring activities and the 'informational capital' collected by the incumbent banks may act as a barrier to entry. The intensity of the existing firm-bank relationships will determine the height of this barrier and shape the structure of international banking markets. For example, in Scandinavia where firms maintain few and strong relationships, foreign banks may only be able to enter successfully through mergers and acquisitions. On the other hand, Southern European firms maintain many bank relationships. Therefore, banks may consider entering Southern European banking markets through direct investment. |
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Teodoro D Cocca, Die Rolle der Finanzintermediäre im Internet - Finanz- und transaktionskostentheoretische Analyse der Auswirkungen des Internets auf den Aktienprimärmarkt, Bank- und finanzwirtschaftliche Forschungen, University of Zurich, Faculty of Economics, Business Administration and Information Technology, 2002. (Dissertation)
Investoren und Emittenten äussern oft und gerne Kritik an der Rolle der Emissionsbanken und am traditionellen Emissionsprozess - die Zuteilungspraxis sei intransparent, heisst es etwa, oder die enormen Kurssprünge am Emissionstag seien auf Underpricing zurückzuführen. Es scheint also, als sei der optimale Emissionsablauf noch nicht gefunden worden. Das Internet könnte nun aber Lösungen bereit halten: Direct Public Offerings, virtuelle Emissionhäuser oder Online-Auktionen. Teodoro Cocca untersucht diese neuen Angebote mit wissenschaftlicher Strenge, er sichtet aktuelle Forschungsresultate zum E-Commerce und setzt sich kritisch mit den Grenzen und Möglichkeiten der neuen Technologie auseinander. |
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Bruno Staffelbach, Warum wird das HRM-Wissen nicht umgesetzt? , Schweizer Arbeitgeber, Vol. 97 (21), 2002. (Journal Article)
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Bruno Staffelbach, Corporate Social Responsibility: Konsequenzen für das HRM, Persorama, Vol. 26 (4), 2002. (Journal Article)
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