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.

Selected Publications

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Abstract: The article focuses on the approach for crisis management rules in mass media industry in the U.S. Topics discussed include downsized of journalists in the U.S. and Great Britain since 2000, deployment of channels such as user forums and social media platforms like Facebook, and action taken by stakeholders to leverage key assets including frontline information, news channels, and ability to determine when and how a crisis ends.

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Copy reference link   DOI: doi:10.1007/s00607-014-0432-7

Abstract: Current systems for enacting scientific experiments, and simulation workflows in particular, do not support multi-scale and multi-field problems if they are not coupled on the level of the mathematical model. To address this deficiency, we present an approach enabling the trial-and-error modeling and execution of multi-scale and/or multi-field simulations in a top-down and bottom-up manner which is based on the notion of choreographies. The approach defines techniques for composing data-intensive, scientific workflows in more complex simulations in a generic, domain-independent way and thus provides means for collaborative and integrated data management using the workflow/process-based paradigm. We contribute a life cycle definition of such simulations and present in detail concepts and techniques that support all life cycle phases. Furthermore, requirements on a respective software system and choreography language supporting multi-scale and/or multi-field simulations are identified, and an architecture and its realization are presented.

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Copy reference link   DOI: 10.1016/j.dss.2016.01.003

Abstract: Revenue management (RM) is making a significant impact on pricing research and practice, from aviation and hospitality industries to retailing. However, empirical data conditions in retail are distinct to other industries, in particular in the large number of products within and across categories. To set profitable static prices with established RM models, the data is often simplified by data pruning (the exclusion of subsets of data that are deemed irrelevant or unsuitable) and data aggregation (the combination of disparate data points). However, the impact of such data preprocessing, despite being ubiquitous in retailing, is insufficiently considered in current RM research. This could induce potential sources of bias for the demand model estimates, as well as subsequent effects on the price optimization system, the optimized price set, and the profit maxima, which have not yet been investigated. This paper empirically studies the impact of two commonly used data preprocessing techniques in retail RM, data pruning and data aggregation, using simulated and empirical retail scanner data. We numerically assess potential biases introduced by data preprocessing using a systems perspective in estimating a two-stage demand model, the resulting price elasticities, optimized price sets, and the ensuing profit that it yields. Results show that both data aggregation and data pruning bias demand model estimates, albeit with different effect, but both produce less profitable price sets than unbiased reference solutions. The results demonstrate the practical importance of data preprocessing as a cause for estimation bias and suboptimal pricing in retail price optimization systems.

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Copy reference link   DOI: doi:10.1080/00207543.2015.1053579

Abstract: We consider production systems in technology industries where output quality of a single production run has a large variance. Firms operating such systems classify products into different quality bins and sell units in one bin at the same tagged quality level and the same price. Consumers have heterogeneous quality preferences and choose that quality that maximises their net utility. We examine firms’ assortment, production and pricing problem. We present a three-stage solution procedure that optimises the production quantity, quality specification and number of bins. In that regard, we show that for a manufacturing technology with known quality distribution and known distribution of customers’ quality preference, the optimal assortment and production quantity are set such that on average, the demand of each bin is exactly fulfilled. We examine the impact of an improved manufacturing technology, variation in consumer preferences and changing price premium on the optimal assortment, lot size, market share, yield loss and the overall profitability. We further show that when the quality distribution of the manufacturing process is unknown, downward substitution leads to product offering of higher quality and higher prices. Finally, we discuss practical considerations for pricing, technology and optimal product offerings, and explain the proliferation of bins witnessed in the last decade in the processor industry.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.ejor.2015.08.003

Abstract: Abstract Practical experience and scientific research show that there is scope for improving the performance of inventory control systems by delaying a replenishment order that is otherwise triggered by generalised and all too often inappropriate assumptions. This paper presents the first analysis of the most commonly used continuous (s, S) policies with delayed ordering for inventory systems with compound demand. We analyse policies with a constant delay for all orders as well as more flexible policies where the delay depends on the order size. For both classes of policies and general demand processes, we derive optimality conditions for the corresponding delays. In a numerical study with Erlang distributed customer inter-arrival times, we compare the cost performance of the optimal policies with no delay, a constant delay and flexible delays. Sensitivity results provide insights into when the benefit of delaying orders is most pronounced, and when applying flexible delays is essential.

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Copy reference link   DOI: doi.org/10.1016/j.jbusres.2016.05.005

Abstract: Recent acquisitions involving Tumblr and Instagram have demonstrated that the takeover of an unlisted start-up company can offer enormous financial benefits to its (former) stakeholders. Considering the multimillion-dollar amounts paid for start-ups with no existing and highly uncertain future revenues, we investigate the process and outcome of negotiation dynamics in the context of takeovers. In a series of experiments, we show that even with a low level of uncertainty about a start-up's value and its financial resources, start-ups can influence bidders' behavior and consequently the start-ups' valuation. The results indicate that incumbents' bidding behavior is driven by the perceived threat level with respect to the start-up's business activities as well as by the uncertainty with respect to other incumbents' bidding behavior—drivers that are subject to activities by the start-ups' management. Interestingly, the effect even exists if incumbents clearly know that initiating a bidding process will very likely lead to losses.

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Copy reference link   DOI: 10.1080/00207543.2016.1157273

Abstract: This study analyses inventory reductions as a means of short-term financing of firms under financial distress. We use quarterly panel data of U.S. manufacturing firms for the period from 1995 to 2007. We identify a sample of 198 distressed firms for which we analyse changes in relative inventory. Approximately 70% of distressed firms reduce their inventories until the end of their individual distress periods. This decrease corresponds to a mean reduction of 18.7 inventory days or 9.4%. Additional regression analyses show that differences in inventory adjustments depend on pre-distress inventory performance, firm size, and turnaround strategy. We also compile a sample of 142 firms that defaulted to analyse inventory actions of unsuccessful turnarounds. Our findings indicate that defaulting firms also reduce their inventories but that the reductions are lower than those of firms that resolve their financial distress. We conclude that distressed firms use short-term inventory adjustments to free up cash and to achieve long-term efficiency gains from inventory optimisation. Our findings suggest that inventory optimisation is an essential part of a complete and successful turnaround strategy and financially distressed firms should always consider this action as a means to prevent bankruptcy.

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Copy reference link   DOI: doi:10.3389/fpsyg.2016.01446

Abstract: A six-month, time-lagged online survey among 441 employees in diverse industries was conducted to investigate the role paranoia plays as an antecedent and as a consequence of advancement in organizations. The background of the study is the argument that it requires active social sense-making and behavioral adaptability to advance in organizations. The present paper thus explores the extent to which employees’ paranoid cognitions—representative of a heightened albeit suspicious sense-making and behavioral adaptability—link with their advancement in organizations (operationalized as changes in afforded span of control), both as an antecedent and an outcome. Following the strategy to illuminate the process by interaction analysis, both conditions (antecedent and outcome) are examined in interaction with employees’ self-monitoring, which is considered representative of a heightened but healthy sense-making and behavioral adaptability. Results support the expected interference interaction between paranoid cognitions and self-monitoring in that each can to some degree compensate for the other in explaining employees’ organizational advancement. Reversely, changes in span of control also affected paranoid cognitions. In particular, low self-monitors, i.e. those low in adaptive sense-making, reacted with heightened paranoid cognitions when demoted. In effect, the present study is thus the first to empirically support that paranoid cognitions can be a consequence but also a prerequisite for getting ahead in organizations. Practical advice should, however, be suspended until it is better understood whether and under what circumstances paranoia may relate not only to personally getting ahead but also to an increased effectiveness for the benefit of the organization.

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Copy reference link   DOI: 10.1016/j.frl.2015.01.007

Abstract: In this paper, we propose novel predictor variables for forecasting stock market returns. We investigate the predictive power of the demand for gold coins and bars as a proxy for the risk premium consistent with the safe haven property of gold. The gold demand variables reflect the behaviour of retail investors and thus also represent a new class of predictors. Our analysis shows that the demand for gold is positively correlated with future stock returns and enhances the predictive power of the dividend yield and other variables.

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Abstract: Book pricing is problematic for two main reasons. First, because legal restrictions make pricing decisions irreversible. Second, because publishers must set prices for many books every year. Therefore, a sound knowledge of consumer reaction to price is essential for good pricing decisions. Our research examines consumer reactions to prices, provides price elasticities based on a large sample of fiction books, and creates a comprehensive set of quality measures and control variables. Our results show that once price endogeneity is considered, consumers are price elastic. Moreover, we find that the price elasticity for hardcover books is substantially smaller than for paperbacks.

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Copy reference link   DOI: 10.1108/MRR-09-2013-0209

Abstract: This paper aims to show how researchers can overcome problems of fragmentation and eclecticism in an important strategy paradigm, namely, the Dynamic Capabilities (DC) perspective. First, the explanandum of the theory of DC, conceptualized as a theory of strategic change, is generates. Second, four main constituent theoretical perspectives of DC were selected and their explanans on the explanandum of a theory of strategic change was mapped. Third, the explanans of a theory of strategic change was parsed out to derive the critical fragmentation sources as illustrated by the classical papers in DC. First, consistent explanans of a theory of strategic change are integrated to build a meta-theory of strategic change. Second, testable propositions based on the meta-theory, in the context of industry convergence, a context which requires the development of dynamic capabilities in an uncertain and changing environmental context are developed. By developing a meta-theory of strategic change, researchers are provided with the tools to overcome the confusion of fragmentation and eclecticism, specifically in the field of strategy research.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.cor.2014.12.004

Abstract: Abstract Consider a dynamic decision making model under risk with a fixed planning horizon, namely the dynamic capacity control model. The model describes a firm, operating in a monopolistic setting and selling a range of products consuming a single resource. Demand for each product is time-dependent and modeled by a random variable. The firm controls the revenue stream by allowing or denying customer requests for product classes. We investigate risk-sensitive policies in this setting, for which risk concerns are important for many non-repetitive events and short-time considerations. Numerically analysing several risk-averse capacity control policies in terms of standard deviation and conditional-value-at-risk, our results show that only a slight modification of the risk-neutral solution is needed to apply a risk-averse policy. In particular, risk-averse policies which decision rules are functions depending only on the marginal values of the risk-neutral policy perform well. From a practical perspective, the advantage is that a decision maker does not need to compute any risk-averse dynamic program. Risk sensitivity can be easily achieved by implementing risk-averse functional decision rules based on a risk-neutral solution.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.jbtep.2015.02.011

Abstract: Background and objectives Overconfidence in errors is a well-replicated cognitive bias in psychosis. However, prior studies have sometimes failed to find differences between patients and controls for more difficult tasks. We pursued the hypothesis that overconfidence in errors is exaggerated in participants with a liability to psychosis relative to controls only when they feel competent in the respective topic and/or deem the question easy. Whereas subjective competence likely enhances confidence in those with low psychosis liability as well, we still expected to find more ‘residual’ caution in the latter group. Methods We adopted a psychometric high-risk approach to circumvent the confounding influence of treatment. A total of 2321 individuals from the general population were administered a task modeled after the “Who wants to be a millionaire” quiz. Participants were requested to endorse one out of four response options, graded for confidence, and were asked to provide ratings regarding subjective competence for the knowledge domain as well as the subjective difficulty of each item. Results In line with our assumption, overconfidence in errors was increased overall in participants scoring high on the Paranoia Checklist core paranoia subscale (2 5SD6 above the mean). This pattern of results was particularly prominent for items for which participants considered themselves competent and which they rated as easy. Limitations Results need to be replicated in a clinical sample. Discussion In support of our hypothesis, subjective competence and task difficulty moderate overconfidence in errors in psychosis. Trainings that teach patients the fallibility of human cognition may help reduce delusional ideation.

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Abstract: In the last decade researchers have been looking at ways of reducing the carbonintensity of shipping operations that globally account for approximately 3 % of world carbonemissions. As a result of regulation and firms’ efforts to innovate, the maritime sectorhas introduced new technologies and practices such as slow steaming which have contributedto reduce greenhouse gas (GHG) emissions in the atmosphere. The impact of technologicaland operational developments on global GHG emissions is difficult to assess, however,without empirical evidence. So far such evidence has been only partially available and mostof the data sources used in the literature have been compiled for different purposes or arebased on single firm case studies.This paper reports the results of an analysis of a fuel consumption database compiled bythe BSR Clean Cargo Working Group (CCWG) with the specific purpose of benchmarking andcollecting emission data and comprising 2,300 container ship voyages (reporting year 2013,data for 2012). This analysis has examined the effect of technical and operational parameterson these vessels’ fuel consumption and emissions and is the first to be performed on the datasetand in general on self-reported data across multiple companies. In 2012, carriers in theCCWG accounted for approximately 65% of total world deep-sea container traffic.The paper outlines an econometric model that regresses carbon emissions from containershipping on particular trade routes against a range of independent variables, suchas vessel age, size and average speed. The paper results indicate that significant differencesexist among carriers both in terms of energy efficiency and carbon intensity. The analysisalso suggests that while the emission profiles of some trade routes have remained relativelystable in recent years, others have witnessed an increase in emissions mainly as a result of aconcentration of container flows. By improving our understanding of the determinants ofcarbon emissions from container shipping, this research should help shipping lines developcarbon-reduction plans and governments to devise appropriate policies to incentivise thedecarbonisation of the maritime sector.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.ijresmar.2015.09.004

Abstract: Referral programs have become a popular tool to use the customer base for new customer acquisition. We replicate the work of Schmitt et al. (2011) who find that referred customers are more loyal and valuable than customers acquired through other channels. While our results confirm that rewarded referrals indeed reduce the risk of customer churn, we do not find that referred customers are necessarily more valuable. Analysis of the relationship between senders and receivers of referrals demonstrates that demographic similarity drives the referred customer value.

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Copy reference link   DOI: 10.1007/s11002-014-9293-2

Abstract: Customer retention is a major driver of customer lifetime value and is thus a key performance metric in marketing management. Consequently, companies try to retain customers by offering contracts with minimum contract durations (MCD). Using behavioral, psychometric, and advertising data for a large sample of DSL customers, the authors study the impact of minimum contract durations on actual customer churn behavior. The analyses demonstrate that subscriptions with minimum contract durations do indeed help companies to successfully retain customers. The effect is impaired though, as companies typically (must) provide incentives to convince customers to commit to those contracts. We find that incentives attract customers that either cannot or should not be retained and hence require companies to carefully apply both MCD and incentives.

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Copy reference link   DOI: doi:10.3389/fpsyg.2015.01126

Abstract: Previous research indicated that leader moral identity (MI; i.e., leaders’ self-definition in terms of moral attributes) predicts to what extent followers perceive their leader as ethical (i.e., demonstrating and promoting ethical conduct in the organization). Leadership, however, is a relational process that involves leaders and followers. Building on this understanding, we hypothesized that follower and leader MI (a) interact in predicting whether followers will perceive their leaders as ethical and, as a result, (b) influence followers’ perceptions of leader–follower relationship quality. A dyadic field study (N = 101) shows that leader MI is a stronger predictor of followers’ perceptions of ethical leadership for followers who are high (vs. low) in MI. Perceptions of ethical leadership in turn predict how the quality of the relationship will be perceived. Hence, whether leader MI translates to perceptions of ethical leadership and of better relationship quality depends on the MI of followers.

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Copy reference link   DOI: doi:10.1111/poms.12358

Abstract: The majority of after-sales service providers manage their service parts inventory by focusing on the availability of service parts. This approach, combined with automatic replenishment systems, leads to reactive inventory control policies where base stock levels are adjusted only after a service contract expires. Consequently, service providers often face excess stock of critical service parts that are difficult to dispose due to their specificity. In this study, we address this problem by developing inventory control policies taking into account contract expirations. Our key idea is to reduce the base stock level of the one-for-one policy before obsolescence (a full or partial drop in demand rate) occurs and let demand take away excess stock. We refer to this policy as the single-adjustment policy. We benchmark the single-adjustment policy with the multiple-adjustment policy (allowing multiple base stock adjustments) formulated as a dynamic program and verify that for a wide range of instances the single-adjustment policy is an effective heuristic for the multiple-adjustment policy. We also compare the single-adjustment policy with the world-dependent base stock policy offered by Song and Zipkin (1993) and identify the parameter combinations where both policies yield similar costs. We consider two special cases of the single-adjustment policy where the base stock level is kept fixed or the base stock adjustment is postponed to the contract expiration time. We find that the initial demand rate, contract expiration time, and size of the drop in demand rate are the three key parameters driving the choice between the single-adjustment policy and its special cases.

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Abstract: Encounters between the police and citizens with migration background are prone to conflict. In order to guarantee intercultural competent policing, police services are staffed with officers who have a family migration background. Drawing on conflict competence literature, we examined the resulting benefits and costs for police-ethnic minority conflict management by employing personnel with an ethnic minority family background. The sample of our interview study comprised 14 German police officers. The interviewees reported on the role of colleagues with a Turkish family background as either conflict resolvers or conflict intensifiers. Data suggest that police officers with an ethnic minority background significantly contribute to intercultural conflict resolution. Minority police officers’ conflict intensification can be framed as being a point of friction. We conclude that minority police officers are beneficial to police-ethnic minority conflict management and suggest continuous monitoring of minority police officers’ roles by police authorities. This is the first study on intercultural conflict management in policing, explaining the conflict resolving and intensifying contributions of minority police officers.

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Copy reference link   DOI: 10.1080/13675567.2015.1027150

Abstract: The paper reviews existing literature on corporate responsibility (CR) in the port sector and proposes a conceptual framework that brings together the CR drivers in port environmental strategies. The conceptual framework is derived from the existing literature and is based on institutional theory. The literature review is supported by a discussion on CR strategies in 10 major ports around the world. The paper argues that ports tend to replicate environmental strategies across regions and learn from each other, and that a competitive focus on logistics tends to strengthen the importance of CR and in particular of environmental performance in ports. For some ports CR has become an integral part of their value creation proposition mostly as a result of competitive pressure. Furthermore, the paper advances also a correspondence between the degree of port agility and the CR profile of the port. Managerial and policy implications are also discussed.

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Copy reference link   DOI: 10.1108/S0742-332220150000032007

Abstract: Entrepreneurial orientation (EO) plays an important role in explaining firm performance. In this study, we investigate the relation between EO and performance at the strategic business unit (SBU) level and examine the influence of decision-making mode and social capital of the focal business unit manager. Adopting the attention-based view (ABV) as our main theoretical perspective, we examine the impact of decision-making mode (i.e., participative vs. autocratic) on the EO–performance relation. In addition, we investigate the extent to which strong network ties with actors at lower, similar, and higher hierarchical positions, respectively, enable SBU managers to effectively engage in participative decision-making processes when leveraging EO. Our findings based on 119 SBUs of one large international company provide nuanced insights into how local conditions interact to shape EO’s influence on performance.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.ijresmar.2015.05.005

Abstract: When companies launch new products, they need to understand the impact of publicity and advertising on sales. What is their relative effectiveness? Do they strengthen each other (have a positive interaction effect) or weaken each other (have a negative interaction effect)? Further, does the timing of these activities (before or after launch) affect their impact on sales? This paper develops hypotheses regarding the elasticities of pre- and post-launch publicity and advertising on sales. The hypotheses are tested on a large-scale empirical data set that tracks sales, publicity, and advertising for 3336 video games across 52 weeks covering the pre- and post-launch phases. The results demonstrate that pre-launch publicity is more effective than pre-launch advertising but that the reverse is true post-launch. Surprisingly, the analysis reveals a negative interaction effect between pre-launch advertising and publicity, which means that publicity becomes less effective when it is accompanied by higher levels of advertising for the same product. Simulations indicate that companies can gain most sales by focusing on publicity pre-launch, and that there is little benefit from increasing publicity and advertising during the same phase, which is consistent with negative (pre-launch) and zero (post-launch) interaction effects.

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Copy reference link   DOI: doi:10.5381/jot.2015.14.1.a2.   DOI: doi:10.5381/jot.2015.14.1.a2.

Abstract: In the past, logistics used to be a core function of production and trading companies but many of them started to outsource at least parts of their logistics functions to specialized logistics service providers in terms of logistics contracts. With this, sophisticated business models such as value added logistics service providers evolved which focus on tasks of planning, coordination and monitoring of entire supply chains involving multiple logistics providers. Challenges remain though, for instance how a complex logistics contract can be planned and how it can be assured that the providers comply with the planned process. In this article, we present a conceptual as well as technical solution to the monitoring of logistics services and show how to reuse this information in a model for the integrated planning of logistics contracts. A simulation model thereby ensures validity of the overall planning. An approach for integrating different models helps to overcome the problem of utilizing multiple models. Finally, an example scenario shows how each part contributes to a successful planning process for logistics contracts.

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