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: 10.1287/trsc.1070.0226

Abstract: Regulations regarding drivers’ working hours often have a big impact on total transit times, i.e., the time required for driving periods, breaks, and rest periods. Although of particular importance for many real-life applications, they have received only very little attention in the vehicle routing literature. This paper describes the new regulations for drivers’ working hours in the European Union that entered into force in April 2007. According to the new regulations, motor carriers must organise the work of drivers in such a way that drivers are able to comply with the respective regulations and are made liable for infringements committed by the drivers. This paper shows how motor carriers can schedule driving periods, breaks, rest periods, and handling activities, and presents a large neighbourhood search algorithm capable of generating vehicle tours complying with the new regulations.

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Copy reference link   DOI: doi:10.1108/00251740911004718

Abstract: Purpose – The purpose of this paper is to investigate the transferability of the open source principles of product development from the realm of software to the realm of physical products.Design/methodology/approach – Based on the inherent differences between software and physical products, a theoretical discussion of the challenges that face the implementation of open source principles in the physical world are provided. A multiple case study methodology is adopted to provide insights into the applicability of the open source concept in product development outside software.Findings – Many of the challenges identified theoretically are actually encountered in practice. To cope with these challenges effectively, hardware design activities can be translated into software development tasks, using programmable hardware. When dealing with open source projects in the physical realm, it is useful to distinguish between projects driven by commercial firms and those driven by individuals, as each project type can impose different conditions on successful implementation.Originality/value – Although much scholarly attention has been devoted to open source software, the issue of transferability of the identified principles to other industries has undergone little in‐depth research. This paper provides a solid foundation for further investigation of this topic based on theory and empirical case examples. It derives recommendations for industrial experts wishing to benefit from the open source model in new product development.

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Abstract: The Basel II accord encourages banks to develop their own advanced measurement approaches (AMA). However, the paucity of loss data implies that an individual bank cannot obtain a probability distribution with any reliability. We propose a model, targeting the regulator initially, by obtaining a probability distribution for loss magnitude using pooled annual risk losses from the banks under the regulator’s oversight. We start with summarized loss data from 63 European banks and adjust the probability distribution obtained for losses that go unreported by falling below the threshold level. Using our model, the regulator has a tool for understanding the extent of annual operational losses across all the banks under its supervision. The regulator can use the model on an ongoing basis to make comparisons in year-on-year changes to the operational risk profile of the regulated banking sector.

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Copy reference link   DOI: doi:10.1111/j.1467-9310.2009.00567.x

Abstract: Open source software development has received considerable scholarly attention, much of which is based on the presumption that the ‘open source model’ holds some lessons of broader applicability. Nonetheless, our knowledge of its deployment outside the software industry is very limited. This paper focuses on the open source development of tangible objects, the so-called open design. We propose a generalised definition of open source development. Drawing on 27 exploratory interviews and six comparative case studies selected from a pool of more than 75 projects, we analyse the workings of open design. The analysis reveals that open design is already being implemented in a substantial variety of projects with different organisational and institutional structures.

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Copy reference link   DOI: doi:10.1080/14697010903360608

Abstract: This questionnaire-based study investigated the relationship between two aspects of leadership (charismatic leadership and trust in top management) and followers’ innovation implementation behavior. Findings from 194 employees working in R&D teams of a multinational automotive company indicated that charismatic leadership and trust in top management were both positively related to innovation implementation behavior, controlling for followers’ individual differences, management level, and department affiliation. The findings demonstrate that both relationships were mediated by followers’ affective commitment to change. Results implicate the need to more closely bond the concepts of affective commitment to change and innovation implementation behavior and consider their connection in future investigations.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.tre.2009.05.004

Abstract: We model the strategic as well as the operational dimension of performance of supplier–retailer partnerships in terms of five factors: (1) information exchange; (2) trust; (3) joint partnership management; (4) relationship-specific assets; and (5) partner asymmetry. Our paired data are from 74 supplier–retailer partnerships in the consumer-packaged goods industry. As a result we found that the factors that best model strategic performance are different from those that best model operational performance. All companies are in Korea and the retailers include international companies like Carrefour, Tesco, and Wal-Mart while suppliers include Coca-Cola, Kimberley-Clark, and Nestlé.

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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: http://dx.doi.org/10.1016/j.ijpe.2009.02.009

Abstract: We extend the linear programming (LP) model of deterministic supply-chain planning to take demand uncertainty and cash flows into account for the medium term. The resulting stochastic LP model is similar to that of asset–liability management (ALM), for which the literature using stochastic programming is extensive. As such, we survey various modeling and solution choices developed in the ALM literature and discuss their applicability to supply-chain planning. This survey can be a basis for making modeling/solution choices in research and in practice to manage the risks pertaining to unmet demand, excess inventory, and cash liquidity when demand is uncertain.

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Copy reference link   DOI: doi:10.1142/S1363919608002060

Abstract: Users have proven to be a principal driving force of many innovations in different industries. Therefore, more and more firms try to identify avenues to systematically involve users into their new product development. Despite the growing interest in user-driven or user-centred innovation, both in academia and industry, the drivers and impediments affecting the evolvement of user innovation activities over time have only recently become a focus of analysis. This study aims to examine user innovation over time and contribute to the extension of the existing model of user-driven innovation to a more dynamic setting. For this purpose, we study the evolution of user innovation in a field of sports equipment, a high-performance sailboat called Moth. We analyse innovation activities over several decades based on secondary data, interviews and survey results. We find that the level of user activity does not follow a unidirectional trend, but rather develops depending on a number of contextual factors. This suggests that, given a stimulating setting, user innovation can be sustained over long periods of time.

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Copy reference link   DOI: 10.1007/BF03342706

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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