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: 10.5539/jedp.v5n1p74

Abstract: This study examines the relationship between students’ (N = 334) perceived teacher respect and their performance on a math exam in school settings. The incremental validity of respect on performance beyond that accounted for by intelligence is assessed. Results suggest that respect accounts for significant additional variability in students’ performance above that accounted for by intelligence. Further analyses reveal that the relationship between respect and performance is moderated by immigration. For German students (N = 150), perceived respect accounts for a part of the variability in performance over the variability accounted for by intelligence. For students with an immigrant background (N = 181) this relationship is not significant. Cultural implications of respect in school settings are discussed.

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Copy reference link   DOI: 10.1007/s10551-014-2291-8

Abstract: Interpersonal respect can be differentiated into two kinds: (1) horizontal respect, i.e. treating someone with dignity; and (2) vertical respect, i.e. genuinely honoring someone’s merits. With the present research, we draw on motivation theory to explore their interplay in leadership relations. Specifically, we argue for a moderated mediation hypothesis in that (a) leaders’ horizontal respect for their subordinates fundamentally speaks to subordinates’ self-determination and (b) that the message of respectful leadership is enhanced by the vertical respect subordinates have for their leaders. As a result, subordinates are more satisfied with their jobs, which should also show in a decreased willingness to leave. The proposed model was supported in two survey studies (N = 391 and N = 518) and an experimental scenario study (N = 107)—thus suggesting that perceived leader behavior needs to be complemented by leader standing.

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Abstract: How well universities prosper depends on their reputations, which in turn depend on high-level published research. I investigate German data from Handelsblatt and Centrum für Hochschulentwicklung (CHE) for university business faculties and show that publication productivity is characterized by increasing returns to scale, which stem from the number of professors a university employs, and that a higher ratio of students per professor does not usually hurt productivity. Third-party funds show only a small and weakly significant impact. My analysis of the total costs of universities indicates that publications, student education, and contract research all exhibit significant economies of scale.

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Copy reference link   DOI: 10.1057/mel.2015.5

Abstract: It is widely felt that in order to strengthen the competitiveness of European ports it is needed to ensure fair competition among ports and the sector is anew facing new and old challenges related to its long-term development.These challenges, and arguably the inability of the port sector and the European Union (EU) Member States to meaningfully react to them on their own, are at the basis of the renewed attempt of the European Commission (EC) to develop a uniform and coherent policy package for ports. The article provides a critical account of recent EU policy initiatives, focusing on the most recent attempt of the EC to address some of the issues facing the port sector. The article discusses some of the controversies arising from the new EC policy approach, which, although milder in its contents than the previous attempts, recalls the content of the previous policy proposals, especially in the areas of liberalization of port services; pricing; competition; administrative simplification; financial and operational autonomy; and state aid provisions. The article concludes that the EU not only does not go far enough but, by trying to introduce compromises and conditions of considerable vagueness and ambiguity renders its policy proposals practically useless, thus allowing Member States the freedom to continue unabated as before.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.jbusres.2014.10.005

Abstract: Abstract Drawing on the knowledge-based view of the firm, we develop and test a theoretical model linking high-performance work systems (HPWS) and workforce productivity via employee exchange and combination of knowledge. A test of our model in a sample of junior enterprises in Germany supports the proposal that knowledge exchange and combination plays a mediating role. However, knowledge-management effectiveness interacts. That is, knowledge exchange and combination mediates the relationship between 5HPWS6 and workforce productivity only when knowledge-management is effective at medium and high levels, but not at low levels.

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Copy reference link   DOI: 10.1016/j.leaqua.2014.08.005

Abstract: The literature on ethical leadership has focused primarily on the way ethical leaders influence follower moral judgment and behavior. It has overlooked that follower responses to ethical leaders may differ depending on the attention they pay to the moral aspects of leadership. In the present research, we introduce moral attentiveness as an important moderator for the relationship between ethical leadership and unethical employee behavior. In a multisource field study (N = 90), we confirm our hypothesis that morally attentive followers respond with more deviance to unethical leaders. An experimental study (N = 96) replicates the finding. Our paper extends the current leader-focused literature by examining how follower moral attentiveness determines the response of followers to ethical or unethical leadership.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.joep.2015.05.007

Abstract: We study investor happiness in a panel survey of brokerage clients at a 5UK6 bank. When investors anticipate future happiness, they set their return aspirations according to personal portfolio risk, objectives, investment horizon, confidence, and other individual characteristics. They are accurate in their forecasts, only rarely are investors unhappy with outcomes they predicted they would be happy with, and vice versa. However, determinants of experienced happiness only partially correspond to the ones found for anticipated happiness. In particular, relative performance plays an important role investors do not anticipate. Having outperformed other people contributes to investor happiness, as does active trading success.

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Copy reference link   DOI: 10.1007/s11573-014-0753-1

Abstract: We extend theories on charismatic leadership by investigating the influence of prior company performance on subordinates’ attributions of chief executive officer (CEO) charisma within companies of different sizes and ownership structure. First, we use an experimental design to examine the effects of prior company performance on attributions of CEO charisma. Second, in a field study with 69 companies we replicate the experimental finding and show that this relationship is moderated by the size of the company such that the relationship between prior company performance and attributions of CEO charisma is significant only in large companies. We find no evidence, however, that the ownership structure of a company could strengthen or weaken this relationship.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.ijpe.2015.03.027

Abstract: Abstract Consider a single-leg dynamic revenue management problem with fare classes controlled by capacity in a risk-averse setting. The revenue management strategy aims at limiting the down-side risk, and in particular, value-at-risk. A value-at-risk optimised policy offers an advantage when considering applications which do not allow for a large number of reiterations. They allow for specifying a confidence level regarding undesired scenarios. We introduce a computational method for determining policies which optimises the value-at-risk for a given confidence level. This is achieved by computing dynamic programming solutions for a set of target revenue values and combining the solutions in order to attain the requested multi-stage risk-averse policy. We reduce the state space used in the dynamic programming in order to provide a solution which is feasible and has less computational requirements. Numerical examples and comparison with other risk-sensitive approaches are discussed.

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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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Abstract: For the past decade, customer relationship management (CRM) has been one of the priorities in marketing research and practice. Hence, many companies have invested heavily in CRM systems that, unfortunately, did not meet their expectations. Because such shortcomings may have resulted from unrealistic expectations as well as inappropriate data input, this study provides insights into what companies may expect from CRM and what data they should use. Across the phases of the CRM process, the authors show which CRM objectives have been considered and which customer data have proven to be applicable in the empirical CRM literature. The results indicate that despite differences with respect to influence, a variety of customer data can be used to analyze CRM objectives throughout the entire customer life cycle. Overall, the study provides researchers with a comprehensive review of the empirical research on CRM and offers practitioners insights on the scope of CRM analyses and the applicability of customer data for CRM.

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Copy reference link   DOI: doi:http://dx.doi.org/10.1016/j.respol.2015.06.015

Abstract: Abstract Empirical studies have shown that millions of individual users develop new products and services to serve their own needs. The economic impact of this phenomenon increases if and as adopters in addition to the initial innovators also gain benefits from those user-developed innovations. It has been argued that the diffusion of user-developed innovations is negatively affected by a new type of market failure: value that others may gain from a user-developed product can often be an externality to consumer-developers. As a result, consumer innovators may not invest in supporting diffusion to the extent that would be socially optimal. In this paper, we utilize a broad sample of consumers in Finland to explore the extent to which innovations developed by individual users are deemed of potential value to others, and the extent to which they diffuse as a function of perceived general value. Our empirical analysis supports the hypothesis that a market failure is affecting the diffusion of user innovations developed by consumers for their own use. Implications and possible remedies are discussed.

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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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Copy reference link   DOI: 10.1016/j.jbankfin.2014.03.042

Abstract: To understand how real investors use their beliefs and preferences in investing decisions, we examine a panel survey of self-directed online investors at a UK bank. The survey asks for return expectations, risk expectations, and risk tolerance of these investors in three-month intervals between 2008 and 2010. We combine the survey data with investors’ actual trading data and portfolio holdings. We find that investor beliefs have little predictive power for immediate trading behavior. The exception is a positive effect of increases in return expectation on buying activity. Portfolio risk levels and changes are more systematically related to return and risk expectations. In line with financial theory, risk taking increases with return expectations and decreases with risk expectations. In response to their expectations, investors also adjust the riskiness of assets they trade.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.jedc.2014.01.001

Abstract: AbstractThe increase in the price of gold between 2002 and 2011 appears to be a candidate for a potential asset price ‘bubble’, suggesting that chartists (feedback traders) were highly active in the gold market during this period. Hence, this paper develops and tests empirically several models incorporating heterogeneous expectations of agents, specifically fundamentalists and chartists, for the gold market. The empirical results show that both agent types are important in explaining historical gold prices but that the 10-year bull run of gold in the early 2000s is consistent with the presence of agents extrapolating long-term trends. Technically this paper is a further step toward providing an empirical foundation for certain assumptions used in the heterogeneous agents literature. For example, the empirical results presented in this paper compare the economical and statistical significance of numerous switching variable specifications that are generally only introduced ad hoc.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.irfa.2013.12.007

Abstract: AbstractIn this paper we analyze the constant and time-varying influence of currency movements on the value of Australian firms listed on the S&P/ASX 100 index for a period from 1980 to 2010 using daily, weekly, monthly and quarterly returns. Whilst the constant exposure model provides only weak evidence over the full sample period the time-varying exposure analysis reveals that most firms are exposed to currency movements in some periods. The exchange rate exposure of Australian firms is dependent on the appreciation or depreciation trajectory of the Australian dollar and on the sample frequencies used. The positive average FX exposure is consistent with the structure of the Australian economy, the size of the mining sector and the role of the Australian dollar as a commodity currency. Finally, we argue that our findings are fully consistent with financial theory and do not constitute a puzzle.

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Copy reference link   DOI: 10.1111/poms.12161

Abstract: Many social enterprises and some companies have developed supply chains with the poor as suppliers or distributors to alleviate poverty and to create revenues for themselves. Such supply chains have created new research opportunities because they raise issues fundamentally different from those examined in the existing operations management literature. We report this phenomenon of supply chains with the poor as suppliers or distributors in developing countries and identify operations management (OM) research opportunities. We also provide some stylized models to serve as potential seeds for modeling-based research in this area.

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Copy reference link   DOI: doi:10.1111/eufm.12001

Abstract: This experimental study investigates the impact of affective attitudes on risk and return estimates of stocks. Participants rate well-known blue-chip firms on an affective scale and forecast risk and return of the firms’ stock. We find that positive affective attitudes lead to a prediction of high return and low risk, while negative attitudes lead to a prediction of low return and high risk. This bias increases with participants’ confidence in their ratings and decreases with financial literacy. Firm characteristics such as a firm’s marketing expenditures and the strength of its brand have a positive impact on its affective rating.

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Copy reference link   DOI: 10.1016/j.psychres.2013.12.044

Abstract: Studies revealed that patients with paranoid schizophrenia display overconfidence in errors for memory and social cognition tasks. The present investigation examined whether this pattern holds true for visual perception tasks.Nonclinical participants were recruited via an online panel. Individuals were asked to complete a questionnaire that included the Paranoia Checklist and were then presented with 24 blurry pictures; half contained a hidden object while the other half showed snowy (visual) noise. Participants were asked to state whether the visual items contained an object and how confident they were in their judgment. Data from 1966 individuals were included following a conservative selection process.Participants high on core paranoid symptoms showed a poor calibration of confidence for correct versus incorrect responses. In particular, participants high on paranoia displayed overconfidence in incorrect responses and demonstrated a 20% error rate for responses made with high confidence compared to a 12% error rate in participants with low paranoia scores. Interestingly, paranoia scores declined after performance of the task.For the first time, overconfidence in errors was demonstrated among individuals with high levels of paranoia using a visual perception task, tentatively suggesting it is a ubiquitous phenomenon. In view of the significant decline in paranoia across time, bias modification programs may incorporate items such as the one employed here to teach patients with clinical paranoia the fallibility of human cognition, which may foster subsequent symptom improvement.

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Copy reference link   DOI: 10.1080/13546805.2013.819781

Abstract: IntroductionParanoid beliefs strongly impact behaviour and emotion: Most people with paranoid delusions engage in safety behaviours and a relevant minority even commits violent acts under the influence of delusional thoughts. The present study examined whether different levels of belief conviction modulate subsequent behaviour and emotion. To be able to control for important confounds, we set up an analogue study using nonclinical participants.MethodsParticipants were recruited from the general population (N=1935) and asked to fill out the Paranoia Checklist. Individuals had to imagine being persecuted by a secret service, whereby the level of subjective conviction was set at 20%, 40%, 60%, 80%, 90%, or 100%. Subsequently, participants had to estimate for 37 behavioural and emotional items how they might respond to this threat.ResultsThree quarters of the sample affirmed the presence of at least one paranoid idea from the Paranoia Checklist over the duration of a month. The level of belief conviction and paranoia was positively associated with behavioural and emotional consequences.ConclusionsOur investigation suggests that a higher degree of belief conviction aggravates the behavioural consequences of persecutory beliefs in a linear fashion. The study is limited by its “what if” character and should be replicated with clinical participants. The study suggests that treatment approaches that aim to reduce overconviction may positively impact behaviour in psychosis.

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Copy reference link   DOI: 10.1016/j.obhdp.2014.04.003

Abstract: This longitudinal study used data from 91 self-managed teams (456 individuals, 60 nationalities) to examine the interactive effects of a team’s task (“workflow”) network structure and its cultural diversity (as indexed by nationality) on the team’s “potency” (i.e., the team’s confidence in its ability to perform) and its performance (as rated by expert judges). We found that whereas the emergence of dense task networks enhanced team potency it was the emergence of (moderately) centralized task networks that facilitated team performance. These varied structural effects, moreover, were themselves contingent on team composition: the more culturally diverse a team, the more pronounced were the positive effects of network density on team potency and the higher the level of network centralization required for optimal team performance. The success of a team appears to hinge on the interplay between network structure and team composition.

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Copy reference link   DOI: 10.1007/s10551-013-1663-9

Abstract: Although the proportion of women in leadership positions has grown over the past decades, women are still underrepresented in leadership roles, which poses an ethical challenge to society at large but business in particular. Accordingly, a growing body of research has attempted to unravel the reasons for this inequality. Besides theoretical progress, a central goal of these studies is to inform measures targeted at increasing the share of women in leadership positions. Striving to contribute to these efforts and drawing on several theoretical approaches, the present study provides a contemporary examination of (a) whether women and men differ in their levels of power motivation and (b) whether potential gender differences in this motivation contribute to the unequal distribution of women and men in leadership positions. Results from four studies provide converging support for these assumptions. Specifically, we found that women consistently reported lower power motivation than men. This in turn mediated the link between gender and leadership role occupancy. These results were robust to several methodological variations including samples from different populations (i.e., student samples and large heterogeneous samples of employee), diverse operationalizations of power motivation and leadership role occupancy (self- and other ratings), and study design (cross-sectional and time-lagged designs). Implications for theory and practice, including ways to contribute to a more equal gender distribution in leadership positions, are discussed.

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Copy reference link   DOI: http://dx.doi.org/10.1016/j.ijpe.2013.12.020

Abstract: AbstractMotivated by a particular multinational cutting-tools manufacturer, we extend the traditional economic order quantity (EOQ) model for maintenance-repair-and-overhaul (MRO) customers under stochastic purchase price and use it to show how price variance leads to bullwhip effect for the MRO manufacturer despite constant consumption by the customer. Our extension of the EOQ model is based on two assumptions that are reasonable for MRO customers: (a) customer consumption rate of the product is constant; and (b) the customer places each order when the inventory level drops to a pre-specified level (say, zero). We determine the customer's optimal ordering quantity in closed form expressions, which enables us to examine the impact of sales price variance on the variance in the orders the customer places on the manufacturer, thus creating a pricing-induced bullwhip effect. We then extend our analysis to multiple products and multiple customer segments and discuss ways for the manufacturer to mitigate the variance in the customer's orders.

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