Mitbestimmung als zentrale Frage der Corporate Governance

--

Comparing financial investments by their state dependent returns: A one-way log utility representation

In a standard single-period model under risk, we formalize and discuss an intuitive criterion for the binary comparison of financial investments. Two investments - x and y - are compared by calculating the present value of x's payoffs using the state dependent returns of y as discount factors. The induced preference is asymmetric but exhibits intransitive indifference. If the feasible set is convex, then the criterion selects a unique maximum element. Interestingly, it can be shown that the induced preference can be represented by a one-way expected utility representation employing logarithmic utility. Besides giving a relevant and illustrative example for a one-way utility representation, this result provides a new interpretation of using logarithmic utility for expected utility based decision-making.State dependent opportunity costs One-way utility representation Logarithmic utility Intransitive indifference

Der Mittelstand – Rückgrat der österreichischen Wirtschaft

Obwohl der Mittelstand immer wieder als Rückgrat unserer Volkswirtschaft bezeichnet wird, führt die Forschung zu KMUs und Familienunternehmen eher ein Nischendasein. Im Jahr 2009 erhob das Institut für Unternehmensführung Daten von 238 kleinen und mittleren Produktionsunternehmen in Deutschland und Österreich zum Entscheidungsverhalten, zur Unternehmenssteuerung und zur Mitarbeiter/innen/führung. Die intensive Analyse der Daten führte zu hochinteressanten Erkenntnissen vor allem über die Besonderheiten von Familienunternehmen

The Role of Middle Management in the Implementation of Sustainability Strategies

This paper aims at contributing to a better understanding of the role of middle management in implementing sustainability strategies. We propose three main levers for the substantive implementation of sustainability strategies: virtues- and values-based staffing procedures for middle managers, their cultural alignment with corporate strategy, and a “middle-up-down role” for middle managers in performance measurement. Moreover, we argue that secondary stakeholder pressure impedes cultural alignment and thus such pressure generates a tradeoff to be managed. Our hypotheses are tested using survey data from 134 large companies

The Role of Middle Management in the Implementation of Sustainability Strategies

This paper aims at contributing to a better understanding of the role of middle management in implementing sustainability strategies. We propose three main levers for the substantive implementation of sustainability strategies: virtues- and values-based staffing procedures for middle managers, their cultural alignment with corporate strategy, and a “middle-up-down role” for middle managers in performance measurement. Moreover, we argue that secondary stakeholder pressure impedes cultural alignment and thus such pressure generates a tradeoff to be managed. Our hypotheses are tested using survey data from 134 large companies

Does using accounting data in performance evaluations spoil team creativity? The role of leadership behavior

Organizations frequently use teams for creative problem-solving. Evaluating the performance of creative teams based on customer-related accounting data, such as client satisfaction measures, revenues, or profits, clarifies which kind of creativity is expected from the team and potentially makes the creative process more effective. However, the use of such accounting data in performance evaluations may amplify the tensions between the artistic merit and the commercial success of creative ideas and, thus, create conflicts that undermine team creativity. We argue that it depends on the team leader's leadership style whether the negative or positive effects of using customer-related data in performance evaluations on team creativity will prevail. If the team leader shows a leadership style that helps team members internalize the values and standards underlying the employed performance measures, then negative conflict inside the team is avoided and the positive effects of using customer-related data in performance evaluations can be realized

Academy of Management Annual Meeting Proceedings

In this paper we analyze the joint effect of transformational team leadership and performance evaluations based on pre-set measures (objective performance evaluations, OPE) in generating creative team performance. In explaining this effect, we argue for a key role of team potency, i.e. the belief of team members in the team’s collective capabilities for being successful. We propose that the effect of OPE on team potency (which itself is considered a main driver of creative performance) depends on whether OPE is combined with a transformational leadership style or not. While the team leader’s use of OPE has a negative main effect on team potency, this negative effect is offset when the team leader exhibits a transformational leadership style. We test the proposed model with data collected from 101 teams and 372 individuals in 53 marketing agencies

Does Using Accounting Data in Performance Evaluations Spoil Team Creativity? The Role of Leadership Behavior

Organizations frequently use teams for creative problem-solving. Evaluating the performance of creative teams based on customer-related accounting data, such as client satisfaction measures, revenues, or profits, clarifies which kind of creativity is expected from the team and potentially makes the creative process more effective. However, the use of such accounting data in performance evaluations may amplify the tensions between the artistic merit and the commercial success of creative ideas and, thus, create conflicts that undermine team creativity. We argue that it depends on the team leader's leadership style whether the negative or positive effects of using customer-related data in performance evaluations on team creativity will prevail. If the team leader shows a leadership style that helps team members internalize the values and standards underlying the employed performance measures, then negative conflict inside the team is avoided and the positive effects of using customer-related data in performance evaluations can be realized