The KLU faculty, post-docs, and PhD candidates regularly publish the results of their research in scientific journals. You will find a complete overview of all KLU publications below (e.g. articles in peer-reviewed journals, professional journals, books, working papers, and conference proceedings). Search for relevant terms and keywords, or filter the list by name, year of publication or type of publication. The references include DOIs and abstracts where available, and you can download them to your own reference database or platform. We regularly update the database with new publications.

Journal Articles (Peer-Reviewed)

Copy reference link   DOI: 10.1504/IJRAM.2009.023157

Abstract: This paper proposes the use of global sensitivity analysis to evaluate the risk associated with a credit portfolio model. Although successfully applied in many disciplines such as chemistry, biology and environmental science, the use of global sensitivity analysis is still rare in financial contexts. One-at-a-time sensitivity analysis is usually applied despite its shortcomings. The scope of this paper is to demonstrate the advantages of a more comprehensive analysis, that is a global sensitivity analysis. As an example, following the works by Frey et al. (2001) and Kiesel and Kleinow (2002), we analyse the static and time-varying uncertainties of three inputs in a latent factor credit risk model: the multivariate distribution of the latent variables, the correlation, and the default probabilities of the obligors. Results show that the relative importance of the inputs strongly depends on the average default probability of the portfolio and the analysed quantiles of the default distribution.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.asieco.2009.04.008

Abstract: This paper proposes a multivariate test to measure the statistical and economic significance of contagion through analysis of extreme unobserved common shocks. Contagious episodes are endogenously determined with no need, but the possibility, to specify the source country. Application to a panel of equity returns during the Asian crisis of 1997–1998 finds that interdependencies are substantially more important than contagion. However, the periods of contagion evident show that it is short-lived, split between positive and negative movements and reverses quickly. In comparison to other Asian crisis countries, Hong Kong is the main driver of contagion in the crisis. The proposed methodology and the empirical findings provide a more detailed picture of contagion than commonly applied tests.

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Copy reference link   DOI: 10.1080/17446540802389032

Abstract: This article is the first to study momentum trading strategies in the Irish stock market. The findings can be summarized as follows: (i) unconditional momentum trading strategies do not outperform the market, (ii) winner and loser trading strategies do outperform the market and (iii) controlling for heteroscedasticity significantly changes the results and yields positive and significant excess returns for most of the 16 momentum trading strategies analysed. These findings illustrate that investors can persistently earn excess returns in the Irish stock market.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.intfin.2008.06.003

Abstract: This paper proposes a definition for financial market stability and an econometric test. It analyzes the impact of systematic and systemic shocks on developed and emerging market stock indices in normal and extreme market conditions. Financial market stability is defined as a constant impact of systematic shocks in normal and extreme market situations. Empirical results show that the impact of systematic shocks is significantly larger in extreme market conditions than in normal conditions for emerging markets. In contrast, the relationship is stable for developed markets. Hence, only developed markets meet an essential condition for financial market stability.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.jfs.2008.08.001

Abstract: This paper analyzes the existence of flights from stocks to bonds and vice versa. We propose a definition and a test for flight-to-quality, flight-from-quality and cross-asset contagion and examine their characteristics and effects for the financial system. The empirical analysis for eight developed countries including the US, the UK, Germany and Japan shows that flights exist and are a common feature in many crises episodes. Our findings also reveal that flights are not merely country-specific events but occur simultaneously across countries. This indicates that there is a link between the occurrence of flights and cross-country contagion. Moreover, we show that flights enhance the resiliency of the financial markets by providing diversification benefits in times when they are needed most.

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Copy reference link   DOI: 10.1287/inte.1080.0377

Abstract: We analyzed the text of 704 online advertisements of supply chain management jobs for MBA graduates. The content analysis of these job advertisements provided us with a list of supply chain topics, such as inventory management and supply management, and general skills, such as communication and leadership; it also showed the proportion of advertisements requesting these skills. We measured the relative coverage of the same supply chain topics in MBA-level supply chain electives and operations management core courses in 21 of the top 50 business schools in the United States by analyzing the course descriptions and the cases used in these courses. This enabled us to compare the relative importance of supply chain topics to employers on the “demand” side with the relative importance of supply chain electives in MBA curricula on the “supply” side in these schools. Our analysis indicated that the supply usually matches demand; however, there may be an undersupply of practice- or process-oriented topics, such as forecasting, procurement, supplier and vendor management, and contracts and negotiation. In addition, there may be an oversupply of conceptual and strategy-oriented topics, such as product design, supply chain design, and emerging information technology and management information.

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Abstract: We consider an economic order quantity model where the supplier offers an all-units quantity discount and a price sensitive customer demand. We compare a decentralized decision framework where selling price and replenishment policy are determined independently to simultaneous decision making. Constant and dynamic pricing are distinguished. We derive structural properties and developalgorithms that determine the optimal pricing and replenishment policy and show how quantity discounts not only influence the purchasing strategy but also the pricing policy. A sensitivity analysis indicates the impact of the fixed-holding cost ratio, the discount policy, and the customers' price sensitivity on the optimal decisions.

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Copy reference link   DOI: 10.1287/inte.1080.0342

Abstract: We analyzed the text of more than 1,000 ads for operations research (OR) jobs. Our objective was to help industry employers benchmark the skills they are seeking in OR graduates with those that other employers are seeking. Educators can also compare their offerings against the skills industry employers seek. We found that employers of OR graduates consistently require modeling, statistics, programming, and general analytical skills in an operations management context as their primary requirements regardless of sector, function within company, and even degree type. These employers also require communication, leadership, project management, spreadsheet and database, and team skills in that order.

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Copy reference link   DOI: 10.1026/0932-4089.52.2.70

Abstract: Der kognitionspsychologisch geprägte Ansatz der Führungskraft-Kategorisierung geht davon aus, dass Mitarbeiter umso positiver auf ihre Führungskräfte reagieren, je stärker diese ihren impliziten Vorstellungen über Führung (Führungsprototypen) entsprechen – also eine hohe Passung mit diesen aufweisen. Da Führungsprototypen stark kulturgeprägt sind, erscheinen die vorhandenen, vorwiegend aus dem englischsprachigen Raum stammenden Instrumente für Forschung im deutschsprachigen Raum jedoch wenig geeignet. Im vorliegenden Beitrag werden deshalb zwei neu entwickelte Maße vorgestellt. Zum einen wurde der deutsche GLOBE-Datensatz in Hinblick auf zentrale Führungsattribute in Deutschland reanalysiert, um eine Erhebung der Passung mit einem sozial geteilten Führungsprototyp möglich zu machen. Zum anderen wurde ein piktorales Maß zur Erhebung der Passung mit einem idiosynkratischen Führungsprototyp entwickelt. Während der Vorteil des ersten Instruments die inhaltliche Auswertbarkeit des Passungsprofils ist, liegt der Vorteil des piktoralen Instrumentes in seiner hohen Effizienz und Kulturunabhängigkeit. Auch wenn eine erste Untersuchung in einem Unternehmen (N = 104) die konvergente und Kriteriumsvalidität beider Instrumente bestätigt, so schränkt das Studiendesign (Querschnitt mit Common Source Data) eine Einschätzung der psychometrischen Qualität beider Instrumente ein. Notwendig erscheinende Folgestudien werden daher abschließend beschrieben.

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Copy reference link   DOI: 10.1026/0932-4089.52.4.169

Abstract: Untergebene erfolgreich zu beeinflussen, ist eine der zentralen Funktionen von Führung. Daher ist es für die Führungsforschung wie auch für Praktizierende in Organisationen interessant zu verstehen, wann Untergebene ihre Führungskräfte respektieren in dem Sinne, dass sie sich freiwillig und gerne gegenüber deren Einfluss öffnen. Die Forschung zu Führungskraftkategorisierung zeigt, dass die Einflussoffenheit von Untergebenen umso größer ist, je stärker Führungskräfte in der Wahrnehmung der Untergebenen deren idealen Führungsprototypen entsprechen. Dieser Befund wird in der vorliegenden Arbeit mit identitätstheoretischen Konzepten der Führungsforschung in Verbindung gebracht, die davon ausgehen, dass Identifikationsprozessen eine wichtige Rolle bei der Vermittlung von Einflussoffenheit zukommt. In zwei Feldstudien (N1 = 496 und N2 = 700) können wir zeigen, dass der Zusammenhang von Führungskraftkategorisierung und der Offenheit von Untergebenen für Führungseinfluss partiell durch die Identifikation der Untergebenen mit ihren Führungskräften mediiert wird. Die Implikationen dieses Mediationsmodells für Theorie und betriebliche Praxis werden abschließend diskutiert.

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Copy reference link   DOI: 10.1287/opre.1080.0519

Abstract: We believe that research, teaching, and practice are becoming increasingly disengaged from one another in the OR/MS ecosystem. This ecosystem comprises researchers, educators, and practitioners in its core along with end users, universities, and funding agencies. Continuing disengagement will result in OR/MS occupying only niche areas and disappearing as a distinct field even though its tools would live on. To understand the reasons for this disengagement better and to engender discussion among academics and practitioners on how to counter it, we present the ecosystem's strengths, weaknesses, opportunities, and threats. Incorporated in this paper are insights from a cluster of sessions at the 2006 INFORMS meeting in Pittsburgh (“Where Do We Want to Go in OR/MS?”) and from the literature.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.jom.2007.02.005

Abstract: We explore the link between a company's performance and the extent of its offshoring of IT-enabled services, focusing on large western companies. Our performance measures comprise sales, profit as percentage of sales, profit/employee and sales/employee over 1999–2004. To measure offshoring, we consider the extent to which these companies have offshored: (1) software development and other IT-related development and maintenance, (2) business processes such as payroll or claims processing, and (3) call centers. We performed cluster analysis using the three corresponding offshoring variables to obtain broad patterns of offshoring. Then we compared the average performance of the companies in different clusters using ANOVA; did a regression analysis of the performance measures against the three offshoring variables; and performed non-parametric correlations within industry sectors. None of these tests indicated any clear link between company performance and the extent of offshoring thus suggesting that further study is needed to understand when to offshore and how best to do it.

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