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Publications 2018

Strategic Delegation in Oligopoly

This chapter provides the reader with a clear and intuitive, but yet rigorous, description of the topic of strategic managerial incentives under oligopolistic competition. A review of the closely related issue of vertical separation where a manufacturer delegates decisions to a retailer and an agent appointment game where a principal delegates decisions to a certain type of agent is also provided. We start the discussion of each of these themes by reflecting on seminal papers that have first introduced the corresponding topic. We present and critically discuss the key assumptions behind each of the basic models and point out important applications along with some empirical and experimental evidence. We also discuss contributions that have provided important extensions to the basic frameworks. Our chapter can be seen as complementary to the extensive literature on agency and control issues.

Kopel, M. and Pezzino, M. (2018): Strategic Delegation in Oligopoly, in: Corchón, L. C. und Marini, M. A. (Ed.): Handbook of Game Theory and Industrial Organization, Volume II: Applications, Edward Elgar, Cheltenham, pp. 248-285.

Contact: Michael Kopel, Department of Organization and Economics of Institutions, Phone: +43 (0)316/380 - 7182

 
Youth Labor in Transition. Inequalities, Mobility, and Policies in Europe

Exacerbated by the Great Recession, youth transitions to employment and adulthood have become increasingly protracted, precarious, and differentiated by gender, ethnicity, and socioeconomic status. Youth Labor in Transition examines young people's integration into employment, alongside the decisions and consequences of migrating to find work and later returning home. The authors identify key policy challenges for the future related to NEETS, overeducation, self-employment, and ethnic differences in outcomes. This illustrates the need to encompass a wider understanding of youth employment and job insecurity by including an analysis of economic production and how it relates to social reproduction of labor if policy intervention is to be effective.

O‘Reilly, J., Leschke, J., Ortlieb, R., Seeleib-Kaiser, M. and Villa, P. (Ed.) (2018): Youth Labor in Transition. Inequalities, Mobility, and Policies in Europe, Oxford University Press, New York.

Contact: Renate Ortlieb, Department of Human Resources Management, Phone: +43 (0)316/380 - 7189

 
Predicting career success: is the dark side of personality worth considering?

Purpose: The purpose of this paper is to clarify whether the dark side of personality adds information beyond the bright side when predicting career success.
Design/methodology/approach: In total, 287 participants (150♀, Mage=37.74 and SDage=10.38) completed questionnaires on the Dark Triad (narcissism, Machiavellianism and psychopathy) and the Big Five (emotional stability, extraversion, openness, agreeableness and conscientiousness). They also provided information on their objective (salary and leadership position) and subjective (job satisfaction and satisfaction with income) career success. Regression analyses were used to estimate the Dark Triad’s incremental predictive value.
Findings: The results show that the Dark Triad only provides incremental information beyond the Big Five when predicting salary (ΔR2=0.02*) and leadership position (ΔR2=0.04*). In contrast, the Dark Triad does not explain unique variance when predicting job satisfaction or satisfaction with income.
Research limitations/implications: The exclusive use of self-rated success criteria may increase the risk of same-source biases. Thus, future studies should include ratings derived from multiple perspectives.
Practical implications: Considering the Dark Triad in employee selection and development seems particularly promising in the context of competitive behaviour.
Social implications: The results are discussed in light of the socioanalytic theory. This may help to better understand behaviour in organisational contexts.
Originality/value: This study is the first that simultaneously investigates all three traits of the Dark Triad and the Big Five in combination with objective and subjective career success. In addition, it extends previous findings by answering the question of whether the Dark Triad offers incremental or redundant information to the Big Five when predicting success.

Paleczek, D., Bergner, S. and Rybnicek, R. (2018): Predicting career success: is the dark side of personality worth considering?, in: Journal of Managerial Psychology, Vol. 33, No. 6, pp. 437-456, doi: doi.org/10.1108/JMP-11-2017-0402.

Contact: Dominik Paleczek, Department of Corporate Leadership and Entrepreneurship, Phone: +43 (0)316/380 - 7360

 
Service-Learning als Theorie-Praxis-Dialog: Nutzen und Wirkung für Lernende und Organisationen

Die Forderung nach einer Verbindung von Studium und Praxis zur Kompetenzentwicklung der Studierenden ist ein zentrales Thema für die wirtschaftspädagogische Forschung und Lehre. An Standorten der Wirtschaftspädagogik wurden im deutschsprachigen Raum unterschiedliche Ansätze und Praxisprojekte entwickelt, um Studierenden die Möglichkeit zu geben, „mit Problemen aus ihrer künftigen beruflichen Praxis konfrontiert [zu] werden, sich das Wissen und Können zur Problemlösung selbständig und unter Anleitung von Lehrenden und Experten aus der Praxis an[zu]eignen, gemeinsam Problemlösungen [zu] erarbeiten, [zu] präsentieren und [zu] erproben sowie Problemlöseprozesse und die individuelle Entwicklung der Problemlösefähigkeiten [zu] reflektieren“ (Klauser 2014, S. 1). Empirische Evidenz ist zwar die derzeitige Zauberformel, um die Wirkung unterschiedlicher Maßnahmen im Kontext dieses Theorie-Praxis-Dialogs herausarbeiten zu können; die Lernwirksamkeit und der Nutzen für beide Seiten, sowohl die Theorie als auch die Praxis, ist in der Literatur aber nicht unumstritten und empirisch noch keinesfalls eindeutig geklärt (vgl. z.B. Ostendorf et al. 2017, S. 308). Damit dieser Theorie-Praxis-Dialog gelingen kann, hat sich aber bisher in den Studien gezeigt, dass der Fokus auf die Beziehungen „zwischen unterschiedlichen Akteur/inn/en, institutionellen Kontexten und Wissensbeständen [gerichtet werden muss]. Es geht um ein enges Zusammenwirken und partnerschaftliches Handeln zwischen Bildungseinheiten und der Arbeitswelt“ (Ostendorf et al. 2017, S. 309). Im vorliegenden Beitrag soll dies am Beispiel des Masterstudiums Wirtschaftspädagogik am Standort Graz und des hier eingesetzten Lehr-Lern-Format Service-Learning gezeigt werden. Im Mittelpunkt der Darstellungen in diesem Beitrag sollen Erkenntnisse aus einer Begleitstudie zur Wirksamkeit dieses Theorie-Praxis-Dialogs am Beispiel des Service-Learning stehen – einerseits aus Sicht der Studierenden und andererseits aus Sicht der Organisationen. Es stellt sich im Rahmen dieser empirischen Untersuchung die Frage, wie der Transfer von Wissen, Können und Einstellungen gelingen kann – von der Theorie in die Praxis als auch umgekehrt von der Praxis in die Theorie – zum Nutzen der Praxis als auch zum Nutzen der Theorie.

Slepcevic-Zach, P. and Stock, M. (2018): Service-Learning als Theorie-Praxis-Dialog: Nutzen und Wirkung für Lernenden und Organisationen, in: berufsbildung. Zeitschrift für Theorie-Praxis-Dialog, Vol. 170, pp. 44–47.

Contact: Peter Slepcevic-Zach, Department of Business Education and Development, Phone: +43 (0)316/380 - 7271

 
Self-Censorship and Aesopian Language of Scholarly Texts of Late State Socialism

The article looks at self-censorship in state-socialist scholarly publishing in the broader context of censorship. Theories of censorship maintain that censorship is either conducive of (Leo Strauss) or detrimental to (for example Miklós Haraszti) creative work and critical thinking. This paper seeks to answer the question why both of these views occur simultaneously in the post-1989 narratives of Czech social science and humanities scholars who were active in academic publishing between 1969 and 1989. It considers, in turn, the politicisation of research subjects, the interventions of Cold War binaries into scholarly language and the (im)possibility of the existence of a code of communication between the author and the reader to produce subversive or alternative meanings.

Oates-Indruchová, L. (2018): Self-Censorship and Aesopian Language of Scholarly Texts of Late State Socialism, in: The Slavonic and East European Review, Vol. 96, No. 4, pp. 614-641, doi: 10.5699/slaveasteurorev2.96.4.0614.

Contact: Libora Oates-Indruchová, Department of Sociology, Phone: +43 (0)316/380 - 7086

 
Skilling and deskilling: technological change in classical economic theory and its empirical evidence

This article reviews and brings together two literatures: classical political economists’ views on the skilling or deskilling nature of technological change in England, during the eighteenth and nineteenth centuries when they wrote, are compared with the empirical evidence about the skill effects of technological change that emerges from studies of economic historians. In both literatures, we look at both the skill impacts of technological change and at the “inducement mechanisms” that are envisaged for the introduction of new technologies. Adam Smith and Karl Marx both regarded the deskilling of the labour force as the predominant form of biased technical change, but other authors such as Charles Babbage also took account of capital-skill complementarities and skill-enhancing effects of technological change. For Smith, the deskilling bias was an unintended by-product of the increasing division of labour, which in his view “naturally” led to ever more simplification of workers’ tasks. As opposed to Smith, Marx considered unskilled-biased technical change as a bourgeois weapon in the class struggle for impairing the workers’ bargaining position. Studies of economic historians lend support to Marx’s hypothesis about the inducement mechanisms for the introduction of unskilled-biased innovations, but have produced no clear- cut empirical evidence for a deskilling tendency of eighteenth- and nineteenth- century technological change as a whole. Industrialization in the eighteenth and nineteenth centuries rather led to labour polarization, by simultaneously deskilling a large part of the workforce and raising the demand for some (but fewer) high-skilled workers.

Brugger, F. and Gehrke, C. (2018): Skilling and deskilling: technological change in classical economic theory and its empirical evidence, in: Theory and Society, Vol. 47, No. 5, pp. 663-689, doi: doi.org/10.1007/s11186-018-9325-7.

Contact: Christian Gehrke, Department of Economics, Phone: +43 (0)316/380 - 3457

 
An evaluation of the methods used by European countries to compute their official house price indices

Since 2012, Eurostat requires the national statistical institutes (NSIs) in all European Union (EU) countries to compute official House Price Indices (HPIs) at a quarterly frequency. Eurostat recommends computing the HPI using a hedonic method. Most NSIs have followed this advice, although they differ in their choice of method. Some NSIs use stratified medians instead of hedonic methods. We evaluate the theoretical and empirical properties of both hedonic and stratified median methods. Of particular concern is the comparability of the HPIs across countries when computed using different methods. Our empirical comparisons use detailed micro-level data sets for Sydney and Tokyo, containing about 867000 actual housing transactions. All the hedonic methods perform better than stratified medians. The hedonic methods generate quite similar results, except when applied to new dwellings in Tokyo. This finding shows that the choice of hedonic method can be important for smaller countries with less data. Also, the widely used hedonic repricing method becomes unreliable when the reference shadow prices are not updated frequently.

Hill, R. J., Scholz, M., Shimizu, C. and Steurer, M. (2018): An evaluation of the methods used by European countries to compute their official house price indices, in: Economie et Statistique / Economics and Statistics, Vol. 500-501-502, pp. 221-238, doi: doi.org/10.24187/ecostat.2018.500t.1953.

Contact: Robert J. Hill, Department of Economics, Phone: +43 (0)316/380 - 3442

 
Printmedien versus elektronische Medien. Eine empirische Studie zur Nutzung von Büchern, Zeitschriften und Zeitungen

Im Rahmen der gegenständlichen Untersuchung wird ermittelt, wie intensiv derzeit Printmedien im Vergleich zu elektronischen Medien im universitären Bereich genutzt werden. Insbesondere wird dabei auf die Nutzung von Büchern, Zeitschriften und Zeitungen eingegangen. Darüber hinaus wird analysiert, ob es geschlechter-, alters-, universitäts- und gruppenspezifische Unterschiede im Nutzungsverhalten gibt. Die für die Untersuchung benötigten Daten wurden mittels strukturierter Befragung von 554 Studierenden und 436 Universitätslehrern erhoben. Anhand der Ergebnisse lässt sich erkennen, dass Printmedien im universitären Bereich nach wie vor von großer Bedeutung sind, wobei ältere Nutzer, Nutzer aus dem Geisteswissenschaftlichen Bereich, sowie Nutzer aus der Gruppe der Universitätslehrer sowohl für berufliche als auch für private Zwecke besonders stark auf Printmedien zurückgreifen.

Reichmann, G. (2018): Printmedien versus elektronische Medien. Eine empirische Studie zur Nutzung von Büchern, Zeitschriften und Zeitungen, in: Information – Wissenschaft & Praxis, Vol. 69, No. 1, pp. 11-20, doi: doi.org/10.1515/iwp-2018-0004.

Contact: Gerhard Reichmann, Department of Information Science and Information Systems, Phone: +43 (0)316/380 - 3563

 
To claim or not to claim: Anonymity, symmetric externalities and honesty

In many situations, economic actors submit claims for money which are unverifiable or hard to verify. Examples include claims for a tax return or an insurance payout. This paper investigates what role anonymity and externalities play for the decision of whether to be (dis)honest when making such claims. First, does honest claiming increase when anonymity is removed and unverified claims are made public? We present experimental evidence to this effect. Second, does honest reporting increase when it is public knowledge that claims affect others’ payoffs and claimants’ payoffs are symmetrically affected by others’ claims? We find no such effect. Making claims public and having symmetric externalities together increases honesty, but this effect is driven solely by the reduction in anonymity.

Schitter, C., Fleiß, J. and Palan, S. (2018): To claim or not to claim: Anonymity, symmetric externalities and honesty, in: Journal of Economic Psychology, pp. 1-24, doi: https://doi.org/10.1016/j.joep.2018.09.006 [4.10.2018].

Contact: Jürgen Fleiß, Center of Entrepreneurship and Applied Business Studies, Phone: +43 (0)316/380 - 7367

 
Investment timing effects of wealth under uncertainty and irreversibility

We analyze the impact of wealth taxes on investment timing decisions under uncertainty and irreversibility by employing a real options model of the Dixit/Pindyck type. Considering that wealth taxes have been (re-)introduced or are under discussion in many countries, investors need decision rules for tax systems with wealth taxation. We integrate different valuation methods for wealth tax purposes, distinguish between broadly and narrowly defined wealth taxes and vary the wealth tax rate to ascertain which wealth tax design is more or less likely to accelerate or delay investment. Our main findings are threefold. First, historical cost valuation reduces the distortive timing effects of wealth taxation compared to fair value accounting. Second, broadening the wealth tax base tends to accelerate investment during high interest rate periods and delay investment during low interest rate periods. Our results predict that wealth taxes with a broad tax base are likely to discourage risky investment in times of near-zero interest rates. These distortive wealth tax base effects, however, can be avoided by granting sufficiently high depreciation deductions for wealth tax purposes. Third, the investment timing effects of wealth tax rate variations are very sensitive to the riskiness of the underlying investment. Moreover, investment timing effects crucially depend upon the depreciation rate for wealth tax purposes. A tax legislator who aims to encourage risk taking should introduce generous depreciation deductions. Our study indicates that if a wealth tax is considered to be politically inevitable, possible harmful investment effects can be mitigated by choosing appropriate valuation methods and parameters.

Niemann, R. and Sureth-Sloane, C. (2018): Investment timing effects of wealth taxes under uncertainty and irreversibility, in: Journal of Business Economics, pp. 1-31, doi: https://doi.org/10.1007/s11573-018-0918-4 [5.10.2018].

Contact: Rainer Niemann, Department of Accounting and Taxation, Phone: +43 (0)316/380 - 6444

 
Shaping Human Science Disciplines: Institutional Developments in Europe and Beyond

This book presents an analysis of the institutional development of selected social science and humanities (SSH) disciplines in Argentina, France, Germany, Hungary, Italy, the Netherlands, Sweden and the United Kingdom. Where most narratives of a scholarly past are presented as a succession of ’ideas,’ research results and theories, this collection highlights the structural shifts in the systems of higher education, as well as institutions of research and innovation (beyond the universities) within which these disciplines have developed. This institutional perspective will facilitate systematic comparisons between developments in various disciplines and countries. Across eight country studies the book reveals remarkably different dynamics of disciplinary growth between countries, as well as important interdisciplinary differences within countries. In addition, instances of institutional contractions and downturns and veritable breaks of continuity under authoritarian political regimes can be observed, which are almost totally absent from narratives of individual disciplinary histories. This important work will provide a valuable resource to scholars of disciplinary history, the history of ideas, the sociology of education and of scientific knowledge.

Fleck, C., Duller, M. and Karády, V. (Hrsg.) (2019): Shaping Human Science Disciplines: Institutional Developments in Europe and Beyond, Palgrave Macmillan, Cham.

Contact: Christian Fleck, Department of Sociology, Phone: +43 (0)316/380 - 3544

 
Testing for structural breaks in factor copula models

We propose new fluctuation tests for detecting structural breaks in factor copula models and analyse the behaviour under the null hypothesis of no change. In the model, the joint copula is given by the copula of random variables which arise from a factor model. This is particularly useful for analysing data with high dimensions. Parameters are estimated with the simulated method of moments (SMM). The discontinuity of the SMM objective function complicates the derivation of a functional limit theorem for the parameters. We analyse the behaviour of the tests in Monte Carlo simulations and a real data application. It turns out that our test is more powerful than nonparametric tests for copula constancy in high dimensions.

Manner, H., Stark, F. and Wied, D. (2018): Testing for structural breaks in factor copula models, in Journal of Econometrics, pp. 1-22, doi: https://doi.org/10.1016/j.jeconom.2018.10.001 [17.10.2018].

ContaCt: Hans Manner, Department of Economics, Phone: +43 (0)316/380 - 3446

 
The economy-wide effects of large-scale renewable electricity expansion in Europe: The role of integration costs

With the increasing share of renewables in electricity generation in Europe, implied economy-wide macroeconomic feedbacks and spill-over effects to other sectors and actors are of rising importance. We quantify the macroeconomic effects of a large-scale expansion of wind and photovoltaics (PV) in Europe, employing a global multi-regional multi-sectoral computable general equilibrium (CGE) model. We place special emphasis on electricity market integration costs, which have so far been neglected not only in most bottom-up technology comparisons, but also in macroeconomic studies. We find that the societal welfare effects of a large-scale expansion of wind and PV tend to be positive; however, when integration costs are taken into account, positive welfare effects are either much smaller or even become negative, depending very much on regional characteristics, such as the prevailing electricity mix, weighted average costs of capital (WACC) or capacity factors. We also show that macroeconomic feedback effects raise generation costs above what is anticipated from a bottom-up perspective, since the high capital intensities of renewable electricity generation technologies drive up economy-wide capital prices. This may imply that they are no longer competitive when installed at large-scales.

Bachner, G., Steininger, K. W., Williges, K. and Tuerk, A. (2018): The economy-wide effects of large-scale renewable electricity expansion in Europe: The role of integration costs, in: Renewable Energy, pp. 1-12, doi: https://doi.org/10.1016/j.renene.2018.09.052 [19.9.2018].

Contact: Karl Steininger, Department of Economics, Phone: +43 (0)316/380 - 3451

 
Organizational working time regimes: Drivers, consequences and attempts to change patterns of excessive work hours

A 40-hour working week is the norm in Europe, yet some organizations require 60 or more working hours and in investment banks an alarming 120-hour weeks are known to be worked. What is more, these organizations often require workers to be permanently on call and demonstrate high production rates. Consequences of such practices include frazzled employees, with their families’ and their own health under pressure. This article introduces our special issue of the German Journal of Human Resource Management. It tackles the many reasons behind excessive work hours and failed attempts to change working time arrangements in organizations. It first identifies three core ideas in previous research, namely the dispersed nature of regimes of excessive working hours, their high levels of persistence and their constitution at multiple levels of analysis. It then summarizes the contributions in this special issue. Finally, it proposes avenues for future research, such as focusing on the genesis and the historicity of organizational working time regimes, studying the interrelation of factors across multiple levels of analysis, and probing new theories to explain the extreme persistence of excessive working hours. The overarching aim of our special issue in this core area of human resource management is to contribute to an understanding of organizational working time regimes and the tenacity of excessive working hours in an effort to deepen our knowledge of how to change them.

Blagoy, B., Muhr, S. L., Ortlieb, R. and Schreyögg, G. (2018): Organizational working time regimes: Drivers, consequences and attempts to change patterns of excessive work hours, in: German Journal of Human Resource Management, Vol. 32, No. 3-4, pp. 155–167, doi: https://doi.org/10.1177/2397002218791408.

Contact: Renate Ortlieb, Department of Human Resources Management, Phone: +43 (0)316/380 - 7189

 
Optimised scheduling in human-robot collaboration - a use case in the assembly of printed circuit boards

Advances in the technologies of sensors and lightweight robots increasingly enable direct physical interaction between humans and robots. This so-called human–robot collaboration is supposed to offer more flexibility in production processes, as opposed to fully automated processes. The aim of this contribution is to describe an integer linear programming model which optimally coordinates the distribution of tasks between humans and robots in a realistic production process of printed circuit boards (PCBs), where the objective is to minimise the completion time of a board. In addition, we discuss an extended case wherein a whole set of different boards is to be assembled, which is highly relevant for low volume production with a high degree of customisation. After stating an extended integer linear programming (ILP) formulation, we propose two practical approaches for solving the computationally more complex second scenario: an order-based heuristic approach and a matheuristic applying a truncated variant of the ILP model with different sequencing strategies. The computational evaluation based on a real-world use case from the PCB industry underlines the efficacy of the matheuristic approach for obtaining a good overall makespan.

Bogner, K., Pferschy, U., Unterberger, R. and Zeiner, H. (2018): Optimised scheduling in human-robot collaboration – a use case in the assembly of printed circuit boards, in: International Journal of Production Research, Vol. 56, No. 16, pp. 5522-5540, doi: https://doi.org/10.1080/00207543.2018.1470695.

Contact: Ulrich Pferschy, Department of Statistics and Operations Research, Phone: +43 (0)316/380 - 3496

 
What makes industry-university collaboration succeed? A systematic review of the literature

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.

Rybnicek, R. and Königsgruber, R. (2018): What makes industry-university collaboration succeed? A systematic review of the literature, in: Journal of Business Economics, pp. 1-30, doi: https://doi.org/10.1007/s11573-018-0916-6 [12.09.2018].

Contact: Robert Rybnicek, Department of Corporate Leadership and Entrepreneurship, Phone: +43 (0)316/380 - 7355

 
Übungsfirma - zwischen Lernendenorientierung, Geschäftsprozessorientierung und Digitalisierung

Das Schuljahr 2017/18 wurde für das kaufmännische Schulwesen in Österreich als das Jahr der Übungsfirma ausgerufen. Die Initiative will die Übungsfirma in den Blickwinkel aller Beteiligten rücken. Es bietet sich damit aber auch die Gelegenheit, die Übungsfirma aus dem Blickwinkel der Beteiligten zu betrachten. So wird in diesem Beitrag der Frage nachgegangen, wie die Lernenden die Übungsfirma wahrnehmen. Anhand von zwei Studien soll gezeigt werden, welchen Nutzen sich Schüler/innen vom Übungsfirmenunterricht für ihr späteres Berufsleben erwarten sowie welchen Mehrwert Absolvent/inn/en aus dem Übungsfirmenunterricht im Nachhinein erkennen. Dazu wurden leitfadengestützte Interviews mit 17 Schüler/inne/n sowie mit neun Absolvent/inn/en von steirischen Handelsakademien geführt und mittels einer qualitativen Inhaltsanalyse nach Kuckartz (2014) ausgewertet. Die Befragungsergebnisse liefern auch Impulse für die zukünftige Weiterentwicklung der Übungsfirmenarbeit. Als ein Beispiel wird hier der Bereich der Digitalisierung und digitalen Transformation aufgegriffen. Ausgehend von einer Darstellung der Geschäftsprozesse einer Übungsfirma werden exemplarisch Maßnahmen entwickelt, um diese aktuellen Entwicklungen in das Modell einer Übungsfirma einfließen zu lassen und eine mögliche Zukunftsperspektive auf die Lehr-Lern-Methode Übungsfirma darzustellen. Im Rahmen einer abschließenden Synopsis werden beide Perspektiven – jene der Lernenden und jene auf Digitalisierung – wieder zusammengeführt.

Riebenbauer, E., Dreisiebner, G. and Stock, M. (2018): Übungsfirma – zwischen Lernendenorientierung, Geschäftsprozessorientierung und Digitalisierung, in: Greimel-Fuhrmann, B. (Ed.): bwp@Spezial AT-1: Wirtschaftspädagogische Forschung und Impulse für die Wirtschaftsdidaktik – Beiträge zum 12. Österreichischen Wirtschaftspädagogikkongress, 26. April 2018, pp. 1-16.

Contact: Elisabeth Riebenbauer, Department of Business Education and Development, Phone: +43 (0)316/380 - 3532

 
Climate Agreements in a Mitigation-Adaption Game

We analyze the strategic interaction between mitigation (public good) and adaptation (private good) strategies in a climate agreement. We show the fear that adaptation will reduce the incentives to mitigate carbon emissions may be unwarranted. Adaptation can lead to larger self-enforcing agreements, associated with higher global mitigation levels and welfare if it causes mitigation levels between different countries to be no longer strategic substitutes but complements. We argue that our results extend to many public goods. The well-known problem of ”easy riding” may turn into ”easy matching” if the marginal utility of public good consumption is strongly influenced by private consumption.

Bayramoglu, B., Finus, M. and Jacques, J.-F. (2018): Climate Agreements in a Mitigation-Adaptation Game, in: Journal of Public Economics, Vol. 165, pp. 101-113, doi: https://doi.org/10.1016/j.jpubeco.2018.07.005.

Contact: Michael Finus, Department of Economics, Phone: +43 (0)316/380 - 3450

 
Public Policy, Dynamic Status Preferences, and Wealth Inequality

This paper studies the effect of productive government spending (taxation) on aggregate savings behavior and its consequences for the dynamics of wealth inequality, taking into consideration key behavioral changes that occur during the process of economic development. Substantial empirical evidence suggests that during this process agents' preferences towards status (positional consumption) evolves according to the average wealth of the society. The sources of wealth include private capital and productive public capital, the latter financed by a distortionary income tax. This dynamic status effect impacts peoples’ responses to tax policy in ways which contrast with those of the standard neoclassical model. Specifically, we find that in response to an increase in the income tax, in economies with a strong (weak) enough dynamic status effect, savings and inequality increase (decrease). Incorporating the behavioral changes to fiscal policy expands the set of mechanisms available to explain the observed variations of savings and wealth distribution dynamics that cannot be attributed to technological or other structural factors.

Dioikitopoulos, E. V., Turnovsky, S. J. und Wendner, R. (2018): Public Policy, Dynamic Status Preferences, and Wealth Inequality, in: Journal of Public Economic Theory, pp. 1-22, doi: https://doi.org/10.1111/jpet.12329 [23.08.2018].

Contact: Ronald Wendner, Department of Economics, Phone: +43 (0)316/380 - 3458

 
Catch me if you can. Can human observers identify insiders in asset markets?

Securities regulators around the globe face the challenge of identifying trades based on privileged information. We study human observers’ ability to identify informed traders and investigate which trading patterns are indicative of informed trading using experimental asset markets. We furthermore test how the behavioral response of informed traders to the threat of detection and punishment impacts observers’ detection abilities. We find that market trading data carries information which correlates with informed trading activity. Observers partly succeed in recognizing and using this information to identify informed traders.

Stöckl, T. and Palan, S. (2018): Catch me if you can. Can human observers identify insiders in asset markets?, in: Journal of Economic Psychology, Vol. 67, pp. 1-17, doi: doi.org/10.1016/j.joep.2018.04.004.

Contact: Stefan Palan, Department of Banking and Finance, Phone: +43 (0)316/380 - 7306

 
Taking an Interest in Taking the Lead: The Influence of Vocational Interests, Leadership Experience and Success on the Motivation to Lead

Motivation plays a crucial role in leadership, particularly when facing difficult situations and decisions. This long‐term study investigates whether vocational interests predict an individual's motivation to lead (MtL) and whether the link between vocational interests and MtL is mediated by the extent and success of prior leadership experiences. To this end, 471 participants provided information on their vocational interests. Two years later, participants rated their MtL and provided information on both the extent of their prior leadership experiences and the respective success gained from these. Results show that enterprising and conventional interests positively affect MtL two years later. Additionally, enterprising and social interests also indirectly influence a person's motivation to lead through the extent and success of prior leadership experiences: people with higher enterprising and social interests report more prior experience in leading. This experience is linked to more self‐perceived leadership success, which consequently enhances these persons' motivation to take on leading roles. These findings enrich theory on the antecedents and malleability of MtL and further equip recruiters with information on how to search for motivated leaders.

Bergner, S., Kanape, A. and Rybnicek, R. (2018): Taking an Interest in Taking the Lead: The Influence of Vocational Interests, Leadership Experience and Success on the Motivation to Lead, in: Applied Psychology: An International Review, doi: doi.org/10.1111/apps.12150 [16.04.2018].

Contact: Sabine Bergner, Department of Corporate Leadership and Entrepreneurship, Phone: +43 (0)316/380 - 7359

 
CEO Activism and Supply Chain Interactions

In this paper we demonstrate that hiring a manager with a propensity to over-invest in socially and responsible production can increase firm profits if customers not only care about the responsible behavior of the market firm but also about the engagements of all players along the firm’s supply chain. The new mechanism we identify relies on the complementarity of investments by the firm and its suppliers. We demonstrate that CEO activism of this kind might cause a win-win outcome where all parties along the supply chain, the firm’s customers and society can be better off.

Hinterecker, H., Kopel, M. and Ressi, A. (2018): CEO Activism and Supply Chain Interactions, in: Annals of Public and Cooperative Economics, Vol. 89, No. 1, pp. 235-250, doi: doi.org/10.1111/apce.12195.

Contact: Michael Kopel, Department of Organization and Economics of Institutions, Phone: +43 (0)316/380 - 7182

 
Didaktische Modellierung einer Service-Learning-Lehrveranstaltung - Ergebnisse eines Design-Based-Research-Ansatzes

Die Einführung einer Service-Learning-Lehrveranstaltung im Rahmen des Masterstudiums Wirtschaftspädagogik stellt den Ausgangspunkt der hier vorgestellten Untersuchung dar. Obwohl bereits einige Studien zur Wirksamkeit von Service-Learning-Veranstaltungen bestehen, sind die Fragen der didaktischen Modellierung einer solchen sowie die sich daraus ergebenden Wirkungen noch wenig beachtet. Ziel dieser Studie war es, das Lehrveranstaltungskonzept Service-Learning im Rahmen des Studiums der Wirtschaftspädagogik zu evaluieren und in seiner didaktischen Modellierung weiterentwickeln. Als Methode wurde ein Design-Based-Research-Ansatz gewählt. Die Studierenden (N= 82) wurden dabei über vier Semester mit Hilfe einer quantitativen Pre-Post-Fragebogenerhebung (inklusive einer Kontrollgruppe aus dem Masterstudium Betriebswirtschaft, N= 105) sowie unterschiedlichen qualitativen Erhebungsformaten befragt. Es konnten einerseits die Wirksamkeit dieser Service-Learning-Veranstaltung belegt und andererseits für die didaktische Modellierung fünf Gestaltungselemente identifiziert werden. Zentral für die Wirksamkeit ist eine offene Problemstellung, welche die Lernenden in einer Situation der Unsicherheit belässt, sowie die Lernenden in Kontakt mit den KlientInnen der sozialen Organisationen zu bringen.

Fernandez, K. and Slepcevic-Zach, P. (2018): Didaktische Modellierung einer Service-Learning-Lehrveranstaltung – Ergebnisse eines Design-Based-Research-Ansatzes, in: Unterrichtswissenschaft, Vol 46, No. 2, pp. 165-184, doi: doi.org/10.1007/s42010-017-0002-8.

Contact: Peter Slepcevic-Zach, Department of Business Education and Development, Phone: +43 (0)316/380 - 7271

 
Multiperspektivische Verbraucherforschung. Ansätze und Perspektiven

Wissenschaftliche Erkenntnisse über den Kauf bzw. den Ge- und Verbrauch von Konsumgütern werden meist nur von einzelnen Wissenschaftsbereichen erhoben, ohne dass diese bisher in einem engeren Dialog stehen. In diesem Buch werden Dimensionen, Ansätze und Gegenstände einer multiperspektivischen Verbraucherforschung vorgestellt. Neben theoretischen und interdisziplinären Zugängen werden auch Perspektiven aus der Praxis abgebildet. So wird ein Beitrag dazu geleistet, verschiedene Perspektiven in Dialog zu bringen und darauf aufbauend die multiplen Herausforderungen und Möglichkeiten, die Konsum für Gesellschaft, Individuum und Unternehmen beinhaltet, besser verstehen zu können. Bisherige Ansätze der Verbraucher- und Konsumforschung werden so um eine multidimensionale Perspektive erweitert.

Nessel, S., Tröger, N., Fridrich, C. and Hübner, R. (Ed.) (2018): Multiperspektivische Verbraucherforschung. Ansätze und Perspektiven, Springer VS, Wiesbaden.

Contact: Sebastian Nessel, Department of Sociology, Phone: +43 (0)316/380 - 3547

 
The social profitability of photovoltaics in Germany

While Germany has led the market in photovoltaic (PV) implementation throughout the last decade, there has been increasing criticism of PV support policies due to their high cost. Although declining, the levelized cost of electricity (LCOE) from PV is still above the German wholesale electricity price. However, using LCOE as an evaluation yardstick falls short in at least 2 respects: It neither takes into account integration costs rising with PV penetration (ie, undervaluing its actual cost) nor avoided externalities of replacing conventional for renewable generation (social cost overvaluation). We thus calculate the social profitability of PV in Germany by including not only private costs and benefits but also integration costs to the electricity system and avoided environmental externalities, using the internal rate of return and the profitability index as indicators. Our results show that when these factors are considered, the social profitability of PV in Germany is higher than 10% at the lower bound of the social cost of carbon (150€/tCO2) up to a penetration level of at least 15% and positive up to a penetration level of at least 25%. Results also show the level of private profitability if all externalities were internalized and assert that subsidies are justified to align private and social profitability. The proposed method could be used as a complementary indicator to private profitability by public institutions, development banks, and companies with social responsibility values.

López-Prol, J. and Steininger, K. W. (2018): The social profitability of photovoltaics in Germany, in: Progress in Photovoltaics: Research and Applications, pp. 1-11, doi: doi.org/10.1002/pip.2988 [02.02.2018].

Contact: Karl W. Steininger, Department of Economics, Phone: +43 (0)316/380 - 3451

 
Individual and Institutional Corruption in European and US Healthcare: Overview and Link of Various Corruption Typologies

In recent years, the fight against healthcare corruption has intensified. Estimates from the European Healthcare Fraud and Corruption Network calculate an approximate €56 billion annual loss to Europe as a result of corruption. To promote understanding of the complexity and interconnection of corrupt activities, we aim to present healthcare-related corruption typologies of the European Union and European Healthcare Fraud and Corruption Network. We subsequently link them to the typology of individual and institutional corruption introduced by Dennis Thompson in the context of investigating misconduct of US Congressional members. According to Thompson, individual corruption is the personal gain of individuals performing duties within an institution in exchange for nurturing private interests, while institutional corruption pertains to the failure of the institution in directing the individual’s behaviour towards the achievement of the institution’s primary purpose because the institutional design promotes the pursuit of individual goals. Effective anti-corruption activities not only require the enactment of anti-corruption laws but also the monitoring and, where appropriate, revision of institutional frameworks to prevent the undermining of the primary purposes of health systems or institutions. To gain further understanding of the similarities and differences of the three typologies, prime examples of corrupt activities in the health sector in the European Union and USA (along with their potential remedies) are provided. Linking corruption cases to Thompson’s typology revealed that many corrupt activities may show elements of both individual and institutional corruption because they are intertwined, partly overlap and may occur jointly. Hence, sanctioning individual actors only does not target the problem.

Sommersguter-Reichmann, M., Wild, C., Stepan, A., Reichmann, G. and Fried, A. (2018): Individual and Institutional Corruption in European and US Healthcare: Overview and Link of Various Corruption Typologies, in: Applied Health Economics and Health Policy, Vol. 16, No. 3, pp. 289-302, doi: doi.org/10.1007/s40258-018-0386-6.

Contact: Margit Sommersguter-Reichmann, Department of Finance, Phone: +43 (0)316/380 - 3516

 
Vergleich von Zitaten, Downloads und Lesehäufigkeiten. Am Beispiel von zwei Volkswirtschaftslehre-Zeitschriften

Im vorliegenden Beitrag untersuchen wir die Beziehung zwischen Zitaten, Downloads und sog. Lesehäufigkeiten des sozialen Literaturverwaltungssystems „Mendeley” anhand der beiden Volkswirtschaftslehre-Zeitschriften „Journal of Environmental Economics and Management” und „Journal of Financial Economics”. Trotz Ähnlichkeiten bei den Häufigkeitsverteilungen konnten wir großteils nur mittlere (Rang)Korrelationen zwischen den drei Zeitschriftenindikatoren berechnen. In den drei Top-10 Rankings kam es zur Überschneidung von nur drei Publikationen. Deutliche Unterschiede gibt es bei den Alters- und Nutzerstrukturen. Während der Großteil der Mendeley-Nutzer Studierende sind, ist der Anteil der Professoren relativ gering. Durch die Mendeley-Profile kann ermittelt werden, aus welchen Disziplinen die Leser einer Zeitschrift kommen. Dies lässt vor allem bei interdisziplinären Zeitschriften wie „Journal of Financial Economics” interessante Rückschlüsse zu. Ähnlich wie bei Zitaten, so gibt es auch bei Downloads und Lesehäufigkeiten disziplinspezifische Unterschiede.

Schlögl, C. and List, R. (2018): Vergleiche von Zitaten, Downloads und Lesehäufigkeiten. Am Beispiel von zwei Volkswirtschaftslehre-Zeitschriften, in: Information – Wissenschaft & Praxis, Vol. 69, Issue 1, pp. 1-10, doi: doi.org/10.1515/iwp-2018-0005.

Contact: Christian Schlögl, Department of Information Science and Information Systems, Phone: +43 (0)316/380 - 3566

 
Business Ethics? A Critical Companion

Das Buch stellt Schlüsselbereiche wirtschaftlichen Handelns (Beschaffung/SCM, Konsum, Marketing, HRM, Corporate Governance, Accounting & Controlling, Sustainability Management) in einen breiteren – ökonomischen, sozialen und historischen – Kontext und reflektiert sie aus einer kritischen ethischen Perspektive. Ursprünglich als Lehrbuch konzipiert, richtet sich das Buch an alle mit einem Interesse an wirtschaftsethischen Fragen – und an einer frischen Sichtweise.

Raith, D. (2018): Business Ethics? A Critical Companion, Metropolis-Verlag, Marburg.

Contact: Dirk Raith, Department of Accounting and Reporting, Phone: +43 (0)316/380 - 3649

 
Patterns of Social Ties, Trust, and Participation after the Fall of the Iron Curtain: New Findings from Central and Southeast European Countries

Twenty-five years after the fall of the Iron Curtain, more than forty scholars from Central and Southeast Europe (CSE) came together at the University of Graz in Austria to take stock of the social changes that have been going on since 1989/90. The conference in 2014 was the starting point of this issue of the International Journal of Sociology, which covers a wide range of topics: patterns of social networks, social and institutional trust and political participation as well as wage dynamics of East–West commuters. This introduction outlines basic data and theories on the economic and democratic transition in CSE to serve as a frame for the articles presented in this issue. They are country case studies from Croatia, Hungary, and Slovenia and country-comparative studies dealing with East European-Austrian border regions. Altogether, the issue aims at raising international attention to new findings regarding social, structural, and sociocultural changes in the CSE countries.

Eder, A., Volk, H. and Haller, M. (2017): Patterns of Social Ties, Trust, and Participation after the Fall of the Iron Curtain: New Findings from Central and Southeast European Countries, in: International Journal of Sociology, Vol. 47, No. 3, pp. 147-161, doi: doi.org/10.1080/00207659.2017.1335524.

Contact: Anja Eder, Department of Sociology, Phone: +43 (0)316/380 - 3542

 
A Social Choice Approach to Ordinal Group Activity Selection

We consider the situation in which group activities need to be organized for a set of agents when each agent can take part in at most one activity. The agents’ preferences depend both on the activity and the number of participants in that activity. In particular, the preferences are given by means of strict orders over pairs ”(activity, group size)”, including the possibility ”do nothing”. Our goal will be to assign agents to activities on basis of their preferences, the minimum requirement being that no agent prefers doing nothing, i.e., not taking part in any activity at all. Taking a social choice perspective, we aim at establishing such an assignment by two approaches. On the one hand, we use k-approval and Borda scores, and we apply the Condorcet criterion on the other hand. We analyze the computational complexity involved in finding a desired assignment, with focus on two natural special cases of agents’ preferences which allow for some positive complexity results.

Darmann, A. (2018): A Social Choice Approach to Ordinal Group Activity Selection, in: Mathematical Social Sciences, Vol. 93, pp. 57-66, doi: doi.org/10.1016/j.mathsocsci.2018.01.005.

Contact: Andreas Darmann, Department of Public Economics, Phone: +43 (0)316/380 - 7139

 
The Refined Best Reply Correspondence and Backward Induction

Fixed points of the (most) refined best reply correspondence, introduced in Balkenborg et al. (2013), in the agent normal form of extensive form games with perfect recall have a remarkable property. They induce fixed points of the same correspondence in the agent normal form of every subgame. Furthermore, in a well-defined sense, fixed points of this correspondence refine even trembling hand perfect equilibria, while, on the other hand, reasonable equilibria that are not weak perfect Bayesian equilibria are fixed points of this correspondence.

Balkenborg, D., Hofbauer, J. and Kuzmics, C. (2018): The Refined Best Reply Correspondence and Backward Induction, in: German Economic Review, pp. 1-15, doi: doi.org/10.1111/geer.12136 [24.5.2017].

Contact: Christoph Kuzmics, Department of Economics, Phone: +43 (0)316/380 - 7111

 
Clustering, Knowledge Sharing, and Intrabrand Competition: A Multiyear Analysis of an Evolving Franchise System

As franchise systems expand, the clustering and resulting proximity of same-brand outlets often become contentious issues. The increased interactions among outlets may facilitate knowledge sharing, even while inducing intrabrand competition. Prior research has considered each possibility – knowledge sharing or intrabrand competition – in isolation, resulting in conflicting recommendations to the central question of whether multiple same-brand outlets should be close to or distant from one another. In this study, the authors take the perspective of the focal outlet and show that the opportunity to share knowledge afforded by clustering-based proximity may or may not be realized, depending on the motivation and ability of the proximal outlets to share knowledge, the focal outlet’s ability to absorb knowledge, and the governance context. An analysis of more than 8,000 observations on the 988 outlets of a U.S.-based automotive service franchise system from 1977 to 2012, and corresponding outlet-level sales information from 2004 to 2012, provides support for the authors’ hypotheses.

Butt, M. N., Antia, K. D., Murtha, B. R. and Kashyap, V. (2018): Clustering, Knowledge Sharing, and Intrabrand Competition: A Multiyear Analysis of an Evolving Franchise System, in: Journal of Marketing, Vol. 82, No. 1, pp. 74-92.

Contact: Vishal Kashyap, Department of Marketing, Phone: +43 (0)316/380 - 7210

 
What makes academic careers less insecure? The role of individual-level antecedents

The early stages of an academic career are fraught with insecurity. By focusing on the individual and his or her background, this article sets out to analyse and develop theories for this insecurity. We see academic career insecurity as a mix of how much someone wants to pursue a job in academia and what they feel is the probability of reaching their goal. The article draws on concepts of boundaryless careers and protean careers to theorise about the antecedents of insecurity. Empirical analysis is based on survey data from early-career researchers at a large Austrian university. The findings indicate that the most important individual factors that reduce academic career insecurity are the willingness to be geographically mobile, self-attribution of previous career success, a high proportion of working time devoted to research and networking, as well as being at an advanced career stage. The article demonstrates the potential and limits of the boundaryless and protean career concepts for studying academic careers. Practical measures are that universities should provide early-career researchers with temporal space for research and networking, facilitate stays at other universities, inform them about career success factors, and tailor faculty development programmes to the distinct stages of academic careers.

Ortlieb, R. and Weiss, S. (2018): What makes academic careers less insecure? The role of individual-level antecedents, in: Higher Education, pp. 1-17, doi: doi.org/10.1007/s10734-017-0226-x [5.1.2018].

Contact: Renate Ortlieb, Department of Human Resources Management, Phone: +43 (0)316/380 - 7189

 
Who Empathizes with Machiavellian or Narcissistic Leaders?

Newspaper articles frequently report incidents where a leader’s dark side of personality causes disastrous damage for a whole organization. This study focuses on dark traits – narcissism, machiavellianism, psychopathy – and leadership. It investigates reasons for why the dark triad results in negative leadership outcomes and sheds light on the question whether ”darker” leaders become even more harmful when they work with ”darker” subordinates. In total, 349 subordinates (51% male) rated their own and their leader’s narcissism, machiavellianism, and psychopathy. Additionally, they provided information on their leader’s performance and on the quality of the relationship with their leader. Findings show that it takes two to tango: Leaders’ narcissism and machiavellianism result in lower-quality relationships. The lower-quality of the leader-subordinate relationship then impacts the leaders’ performance. Interestingly, narcissistic and machiavellian subordinates suffer less from narcissistic and machiavellian leaders than their humbler and less machiavellian counterparts. Therefore, this study shows that the negative consequences of a leader’s dark traits can be buffered by subordinates’ personality.

Page, N., Bergner, S. and Wills, S. (2017): Who Empathizes with Machiavellian or Narcissistic Leaders?, in: Harvard Business Review, doi: hbr.org/2017/09/who-empathizes-with-machiavellian-or-narcissistic-leaders [15.9.2017].

Contact: Sabine Bergner, Center of Entrepreneurship and Applied Business Studies, Phone: +43 (0)316/380 - 7359

 
Providing feedback, orientation and opportunities for reflection as key elements for successful mentoring programs - Reviewing a program for future business education teachers

The introduction to teaching is critical for novice teachers. Near the end of their master’s program, students of Business Education and Development in Austria spend one semester at an assigned school. They are introduced to teaching, while being assisted by peer students, mentoring teachers, and a companion course. Mentors receive special training and preparation in advance, thus contributing to a high quality mentoring program. The program is organized threefold: (1) providing feedback, (2) opportunities for reflection and (3) career orientation. The purpose of this paper is to assess key elements of successful mentoring programs and to question which competences of mentors contribute most to the success of those programs. Between 2012 and 2015, 188 persons (student teachers and their mentors) responded to an online survey at the end of their mentoring program. Additionally, data from a study (1,245 questionnaires) regarding the student teachers’ perception of their own competence was utilized, allowing for a comparison of student teacher confidence in their abilities before and after the mentoring program.

Riebenbauer, E., Dreisiebner, G. and Stock, M. (2017): Providing feedback, orientation and opportunities for reflection as key elements for successful mentoring programs – Reviewing a program for future business education teachers, in: Global Education Review, Vol. 4, No. 4, pp. 54-69.

Contact: Elisabeth Riebenbauer, Department of Business Education and Development, Phone: +43 (0)316/380 - 3532

 
The ”wrong skewness” problem in stochastic frontier models: A new approach

Stochastic frontier models are widely used to measure, e.g., technical efficiencies of firms. The classical stochastic frontier model often suffers from the empirical artefact that the residuals of the production function may have a positive skewness, whereas a negative one is expected under the model, which leads to estimated full efficiencies of all firms. We propose a new approach to the problem by generalizing the distribution used for the inefficiency variable. This generalized stochastic frontier model allows the sample data to have the wrong skewness while estimating well-defined and nondegenerate efficiency measures. We discuss the statistical properties of the model, and we discuss a test for the symmetry of the error term (no inefficiency). We provide a simulation study to show that our model delivers estimators of efficiency with smaller bias than those of the classical model even if the population skewness has the correct sign. Finally, we apply the model to data of the U.S. textile industry for 1958–2005 and show that for a number of years our model suggests technical efficiencies well below the frontier while the classical one estimates no inefficiency in those years.

Hafner, C. M., Manner, H. and Simar, L. (2018): The ”wrong skewness” problem in stochastic frontier models: A new approach, in: Econometric Reviews, Vol. 37, No. 4, pp. 380-400, doi: doi.org/10.1080/07474938.2016.1140284.

Contact: Hans Manner, Department of Economics, Phone: +43 (0)316/380 - 3446

 
The Birth of Social Choice Theory from the Spirit of Mathematical Logic: Arrow's Theorem in the Framework of Model Theory

Arrow’s axiomatic foundation of social choice theory can be understood as an application of Tarski’s methodology of the deductive sciences – which is closely related to the latter’s foundational contribution to model theory. In this note we show in a model-theoretic framework how Arrow’s use of von Neumann and Morgenstern’s concept of winning coalitions allows to exploit the algebraic structures involved in preference aggregation; this approach entails an alternative indirect ultrafilter proof for Arrow’s dictatorship result. This link also connects Arrow’s seminal result to key developments and concepts in the history of model theory, notably ultraproducts and preservation results.

Eckert, D. and Herzberg, F. S. (2018): The Birth of Social Choice Theory from the Spirit of Mathematical Logic: Arrow’s Theorem in the Framework of Model Theory, in: Studia Logica, pp. 1-19, doi: doi.org/10.1007/s11225-018-9794-8 [23.3.2018].

Contact: Daniel Eckert, Department of Public Economics, Phone: +43 (0)316/380 - 3464

 
Price discovery of cryptocurrencies: Bitcoin and beyond

Academic research on cryptocurrencies is almost exclusively directed towards Bitcoin. We extend existing literature by performing various tests on efficiency of several cryptocurrencies and additionally link efficiency to measures of liquidity. Cryptocurrencies become less predictable / inefficient as liquidity increases.

Brauneis, A. and Mestel, R. (2018): Price discovery of cryptocurrencies: Bitcoin and beyond, in: Economics Letters, Vol. 165, pp. 58-61, doi: doi.org/10.1016/j.econlet.2018.02.001.

Contact: Roland Mestel, Department of Banking and Finance, Phone: +43 (0)316/380 - 7304

 
Blinds up or down?: The influence of transparency, future orientation, and CSR on sustainable and responsible behavior

Purpose: This paper aims to explore how and when a business’ transparency leads to greater willingness to engage in sustainable and responsible consumption by consumers.
Design/methodology/approach: Data were collected in two studies. Study 1 collected data from 219 consumers in a large shopping mall. Study 2 followed an experimental approach and used data from 327 participants.
Findings: The current research contributes to theory by hypothesizing and demonstrating when transparency is associated with higher willingness for sustainable and responsible consumption. Critically, the positive benefits of transparency vary according to a business’ future orientation, corporate social responsibility (CSR) and levels of customer involvement.
Practical implications: An important societal and practical implication of the current research is that business should not be expected to only focus on transparency in isolation but rather also needs to consider levels of perceived future orientation, CSR and levels of customer involvement to strengthen sustainable and responsible behavior effectively.
Originality/value: This research builds on and extends current knowledge by exploring the key role of business’ transparency in influencing sustainable and responsible customer behavior and examines critical boundary conditions for the observed effects.

Foscht, T., Lin, Y. and Eisingerich, A. B. (2018): Blinds up or down?: The influence of transparency, future orientation, and CSR on sustainable and responsible behavior, in: European Journal of Marketing, doi: doi.org/10.1108/EJM-10-2016-0576.

Contact: Thomas Foscht, Department of Marketing, Phone: +43 (0)316/380 - 7200

 
Strategic Corporate Social Responsibility by a Local Firm Against a Multinational Enterprise

The present work considers competition between a local firm and a multinational enterprise (MNE). The MNE has a competitive advantage in terms of lower unit costs and plans to enter the local firm’s market either through exports or through FDI. The local firm may strategically become ”socially responsible” and follow a ”doing well by doing good” strategy by investing in socially responsible activities along its value chain. Investments in corporate social responsibility (CSR) increase the responsible firm’s equilibrium output and profit as well as consumer surplus and total welfare in its country. The multinational firm’s incentives to serve the foreign country through FDI are mitigated in the average consumer’s valuation for CSR in the responsible firm’s country implying that CSR investments by local firms give space for inward FDI by low-cost multinationals targeting consumers without environmental and social responsibility consciousness. Policy suggestions are also discussed.

Kopel, M., Manasakis, C. and Petrakis, E. (2018): Strategic Corporate Social Responsibility by a Local Firm Against a Multinational Enterprise, in: Commendatore, P., Kubin, I., Bougheas, S., Kirman, A., Kopel, M. and Bischi, G. I. (Ed.): The Economy as a Complex Spatial System. Macro, Meso and Micro Perspectives, Springer Proceedings on Complexity, Wiesbaden, pp. 178-191, doi: doi.org/10.1007/978-3-319-65627-4_10.

Contact: Michael Kopel, Department of Organization and Economics of Institutions, Phone: +43 (0)316/380 - 7182

 
§ 236 UGB Erläuterung der Bilanz und der Gewinn- und Verlustrechnung

Nach § 222 Abs. 1 UGB hat der Jahresabschluss von Kapitalgesellschaften und diesen durch § 221 Abs. 5 UGB gleichgestellten Personengesellschaften neben den ohnehin obligaten Bestandteilen Bilanz und Gewinn- und Verlustrechnung auch einen Anhang zu umfassen. Der Beitrag beleuchtet zunächst die verschiedenen Funktionen des Anhangs im Rahmen der Rechnungslegung, geht in weiterer Folge auf die Grundsätze der Anhangerstellung ein und widmet sich schließlich der Kommentierung des Regelungsinhalts von § 236 UGB. Hierbei zeigt sich, dass es mit der Reformierung der Rechnungslegungsbestimmungen durch das Rechnungslegungs-Änderungsgesetz 2014 (RÄG 2014) zu einer nachhaltigen Änderung des Bedeutungsgehalts gekommen ist. Die unverändert den Regelungen für den Anhang vorangestellte Generalklausel, derzufolge die Bilanz und die Gewinn- und Verlustrechnung sowie die darauf angewandten Bilanzierungs- und Bewertungsmethoden im Anhang so zu erläutern sind, dass ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage des Unternehmens vermittelt wird, stellt nunmehr nämlich nicht mehr als einen programmatischen Satz dar. Die bis zum RÄG 2014 vertretene Auffassung, dass aus der Generalklausel eine umfassende Erläuterungspflicht folgt, die mitunter auch zusätzliche Angaben erforderlich macht, lässt sich dagegen im Hinblick auf einschlägige Vorgaben der Bilanzrichtlinie der EU nicht weiter aufrechterhalten.

Bertl, R. and Königsmaier, H. (2017): § 236 UGB Erläuterung der Bilanz und der Gewinn- und Verlustrechnung, in: Bertl, R. and Mandl, D. (Ed.): Handbuch zum Rechnungslegungsgesetz, 21st ed., LexisNexis, Vienna.

Contact: Heinz Königsmaier, Department of Accounting and Auditing, Phone: +43 (0)316/380 - 3471

 
Socio-Economic Changes and the Reorganization of Work

In this article, the authors first address three central socio-economic developments, namely financialization, network economy and digitalization, which have prepared the ground for recent changes in work and employment. In the following section, the authors take a closer look at these changes, referring to academic debates about precarization, the blurring boundaries of work and contradictory dynamics of work organization. They conclude that future research needs to focus on how workers are able to deal with these new demands.

Flecker, J., Fiebich, T. and Kraemer, K. (2017): Socio-Economic Changes and the Reorganization of Work, in: Korunka, C. and Kubicek, B. (Ed.): Job Demands in a Changing World of Work. Impact on Workers’ Health and Performance and Implications for Research and Practice, Springer VS, Wiesbaden, pp. 7-24.

Contact: Klaus Kraemer, Department of Sociology, Phone: +43 (0)316/380 - 3546

 
Austria's consumption-based greenhouse gas emissions: Identifying sectoral sources and destinations

Greenhouse gas emissions can be addressed at the points of both production and consumption of goods and services. In a world of inhomogeneous climate policy, missing out policies on either production or consumption leaves an important policy area idle, rendering climate policy inefficient and potentially ineffective. While consumption-based emissions accounts have become readily available at the national level, we here show how their more detailed analysis by sectoral destination (which final demand sectors account for them), sectoral source (in which sectors across the globe those emissions are actually occurring) and the geographical location of the latter can inform a complementary consumption-based climate policy approach. For the example of the EU member country Austria, we find that more than 60% of its consumption-based emissions occur outside its borders, and 34% even outside the EU. The top sectors are a very different list under a consumption-based accounting perspective (construction, public administration (including defense, health and education), and wholesale and retail trade) than under a production-based one (electricity, iron and steel, and non-metallic minerals, such as cement). While for some sectors (e.g. electricity) production-based approaches can work well, emission reduction in other sectors (e.g. electronic equipment) is crucially dependent on consumption-based approaches, as a structural path analysis reveals.

Steininger, K. W., Munoz, P., Karstensen, J., Peters, G. P., Strohmaier, R. and Velázquez, E. (2018): Austria’s consumption-based greenhouse gas emissions: Identifying sectoral sources and destinations, in: Global Environmental Change, Vol. 48, pp. 226-242, doi: doi.org/10.1016/j.gloenvcha.2017.11.011.

Contact: Karl Steininger, Department of Economics, Phone: +43 (0)316/380 - 3451

 
The strong increase of Austrian government debt in the Kreisky era: Austro-Keynesianismor just stubborn forecast errors?

In the Kreisky era (1970–1983), Austrian government debts increased strongly. Historically, the attitude of Kreisky and the Social Democrats towards Keynesian fiscal policy measures to fight unemployment during the oil crises has been held to be responsible for the successive budget deficits. Kreisky’s ideological debt policy has become a narrative that has strongly influenced Austrian fiscal policy until today. While this explanation for the strong increase in public debt during the Kreisky era is widely accepted, it is not necessarily true. In this paper, we assess a different explanation: the deficits might simply have resulted from forecast errors of GDP growth in those turbulent times. We find that about one-third of the increase in the debt-over-GDP ratio is directly explained by short-run forecast errors, i.e., the difference between the approved and the realized budget, and an additional one-fifth is the lower bound of forecast error regarding the long-run growth rate.

Brugger, F. and Kleinert, J. (2018): The strong increase of Austrian government debt in the Kreisky era: Austro-Keynesianism or just stubborn forecast errors?, in: Empirica, pp. 1-20, doi: doi.org/10.1007/s10663-017-9396-0 [27.2.2018].

Contact: Jörn Kleinert, Department of Economics, Phone: +43 (0)316/380 - 3443

 
Ist IFRS 16 ein Fortschritt oder kreiert der Standard mehr Probleme, als er löst?

Die Bilanzierung von Leasingbeziehungen nach internationalem Recht (IFRS) ist seit Jahren umstritten. Dies zeigt sich allein an der ungewöhnlich langen Zeitspanne, die die Reform des bisher gültigen Standards IAS 17 beansprucht hat. Vor kurzem kam es dennoch zu der Verabschiedung des Standards IFRS 16 (Leases). IFRS 16 ist für Geschäftsjahre anzuwenden, die ab dem 01.01.2019 beginnen.Ein Hauptkritikpunkt an dem bisherigen Standard war die Unterscheidung zwischen Operating- und Finance-Leasingverhältnissen. Diese Vorgehensweise wird als Risk-and-Reward-Ansatz bezeichnet. Im Fall eines Mietleasingverhältnisses (Operating-Leasing) kommt es nach IAS 17 zu keiner Erfassung aufseiten des Leasingnehmers. Daraus ergibt sich u.a. im Zusammenhang von Sale-and-Lease-back-Transaktionen ein bilanzpolitisches Potenzial. Der IASB hat das Problem scheinbar einfach gelöst. Aufseiten des Leasingnehmers wird die Unterscheidung zwischen Operating-und Finance-Leasingverhältnissen unerheblich. Der Risk-and-Reward-Ansatz wird durch den Right-of-Use-Ansatz ersetzt (IFRS 16.23). Diese Vorgehensweise wirkt auf den ersten Blick elegant und auf der Hand liegend. Das Problem wird einfach wegdefiniert. Obwohl dies vordergründig betrachtet auch stimmt und viele Bilanzskandale bei einer fixierten Vertragsgestaltung in Anbetracht des Right-of-Use-Ansatzes nicht möglich gewesen wären, ist die Vorteilhaftigkeit von IFRS 16 gegenüber IAS 17 nicht klar.

Schneider, G. (2017): Ist IFRS 16 ein Fortschritt oder kreiert der Standard mehr Probleme, als er löst?, in: Der Konzern. Zeitschrift für Gesellschaftsrecht, Steuerrecht, Bilanzrecht und Rechnungslegung der verbundenen Unternehmen, Vol. 10, pp. 447-451.

Contact: Georg Schneider, Departement of Accounting and Reporting, Phone: +43 (0)316/380 - 3641

 
Konzepte und Entwicklungsmöglichkeiten der Begleitung schulischer Praxisphasen für angehende Lehrende

Die pädagogische Begleitung der Praxisphasen von angehenden Lehrenden an berufsbildenden mittleren und höheren Schulen in Österreich steht im Fokus. Für das Schulpraktikum im Rahmen des Masterstudiums der Wirtschaftspädagogik gibt es bereits elaborierte und validierte Konzepte, welche im Beitrag vor dem Hintergrund einer konnektivitätsorientierten Perspektive einer kritischen Analyse unterzogen werden. Als Untersuchungseinheiten werden die Begleitkonzepte der Praxisphasen der beiden österreichischen Universitäten Graz und Innsbruck herangezogen. Der Beitrag schließt mit Überlegungen zur Weiterentwicklung der Konzeptionen, die auch für andere Modelle schulischer Praxisphasen genutzt werden können.

Ostendorf, A., Riebenbauer, E., Stock, M. and Welte, H. (2017): Konzepte und Entwicklungsmöglichkeiten der Begleitung schulischer Praxisphasen für angehende Lehrende, in: Schlicht, J. and Moschner, U. (Ed.): Berufliche Bildung an der Grenze zwischen Wirtschaft und Pädagogik, Springer VS, Wiesbaden, pp. 307-326, doi: doi.org/10.1007/978-3-658-18548-0_16.

Contact: Michaela Stock, Department of Business Education and Development, Phone: +43 (0)316/380 - 7272

 
Handbuch Geschichte der deutschsprachigen Soziologie. Band 1: Geschichte der Soziologie im deutschsprachigen Raum und Band 2: Forschungsdesign, Theorien und Methoden

Wer sich einen Überblick über die Geschichte der deutschsprachigen Soziologie und über soziologiehistorische Konzepte und Methoden verschaffen möchte, wird in diesem zweibändigen Handbuch umfassend fündig. Es ist das erste Handbuch zur Geschichte der Soziologie im deutschsprachigen Raum. Band 1 gibt zentrale Einblicke in die sozialen und kognitiven Dimensionen der Fachgeschichte und behandelt dabei auch Theorie- und Methodenentwicklungen, Kontroversen, internationale Rezeptionen sowie Institutionalisierungsprozesse in Form von Fachgesellschaften, -zeitschriften und Forschungseinrichtungen. Band 2 widmet sich soziologiegeschichtlichen Forschungsdesigns, analytischen Konzepten sowie unterschiedlichen Methodologien und Methoden für die soziologiehistorische Forschung. Er bietet auch einen praxisorientierten Teil zur Arbeit in und mit Archiven. Das Handbuch bezeugt die ausgewiesene internationale Kompetenz der Grazer Soziologie in der soziologiehistorischen Forschung.

Moebius, S. and Ploder, A. (Ed.) (2017): Handbuch Geschichte der deutschsprachigen Soziologie. Vol. 1: Geschichte der Soziologie im deutschsprachigen Raum, Springer VS, Wiesbaden.
Moebius, S. and Ploder, A. (Ed.) (2017): Handbuch Geschichte der deutschsprachigen Soziologie. Vol. 2: Forschungsdesign, Theorien und Methoden, Springer VS, Wiesbaden.

Contact: Stephan Moebius, Department of Sociology, Phone: +43 (0)316/380 - 7081

 
Sport as a complex adaptive system for place-based leadership: Comparing five European cities with different administrative and socio-cultural traditions

This paper compares place-based leadership patterns of five European cities that have different administrative and socio-cultural traditions in order to understand the role that context plays in shaping city leadership patterns in the policy domain of sport. This paper uses an exploratory approach to analyse the city as a complex adaptive system. In pursuing this research, we investigate the main actors, structures, processes and followership patterns across different forms of city leadership (political, managerial, business and civic). Our findings show the similarities and the differences across the five cities that lead us to a two-part conclusion. First, context may or may not influence city leadership patterns but it remains an essential parameter in comparative analysis. Second, the main challenges for place-based leadership in the policy domain of sport appear generalisable and specifically we observe that civic leadership as praxis can reinforce the transformative nature of place-based leadership in developing and sustaining socio-economic resilience.

Budd, L., Sancino, A., Pagani, M., Kristmundsson, Ó., Roncevic, B. and Steiner, M. (2017): Sport as a complex adaptive system for place-based leadership: Comparing five European cities with different administrative and socio-cultural traditions, in: Local Economy, Vol. 32, No. 4, pp. 316-335, doi: doi.org/10.1177/0269094217709422.

Contact: Michael Steiner, Department of Economics, Phone: +43 (0)316/380 - 3450

 
Is there a "Ricardian Vice"? And what is its relationship with economic policy ad"vice"?

Schumpeter chastised Ricardo for his alleged ”vice” - the so-called ”Ricardian Vice” - of drawing far reaching policy conclusions from utterly simplistic models, which, moreover, were underdetermined. The paper first argues that Schumpeter saw Ricardo’s approach to the theory of value and distribution through a marginalist lens and therefore arrived at a distorted picture of the latter. Several of the criticisms he levelled at Ricardo cannot be sustained. The paper then has a closer look at Schumpeter’s pronouncements on economic policy issues and shows that in a number of respects his views did not differ that much from Ricardo’s and in some respects were remarkably similar. This concerns especially the problem of paying off the public debt, with regard to which both Ricardo after the Napoleonic Wars and Schumpeter after World War I advocated a once for all capital levy.

Kurz, H.-D. (2017): Is there a ”Ricardian Vice”? And what is its relationship with economic policy ad”vice”?, in: Journal of Evolutionary Economics, Vol. 27, No. 1, pp. 91-114, doi: doi.org/10.1007/s00191-016-0468-2.

Contact: Heinz-Dieter Kurz, Department of Economics, Phone: +43 (0)316/380 - 3444

 

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