Junior Management Science, Volume 10, Issue 1, March 2025

  1. Julian Anton Meyer, Success Factors and Development Areas for the Implementation of Generative AI in Companies, 1-23
  2. Vincent Alberth-Jan Cremer, Diversity Within Top Management Teams: The Effects of Diversity Within Boards Towards Managerial Attention on Digital Transformation, 24-43
  3. Veronika Timoschenko, Good as Gold or Merely Glitter? Elite Board Members’ Impact on Firm Performance, 44-69
  4. Cornelia Kees, Looking Behind the Fading Feminist Façade of #Girlboss, 70-94
  5. Eliza Alena Marie Weitzel, Copreneurial Couples in Startups: A Comprehensive Analysis of Copreneurial Couples in Startups Compared to Classical Businesses, 95-134
  6. Antonia Cichocki, Employment with Autism: What Are Educational and Adaptive Needs of Employers in Austria from the Perspective of Women with Low-Symptom Autism?, 135-175
  7. Paula Bao Quiero, “Well, Now They Know”: How Mental Illness Identity Management Strategies Influence Leaders’ Responses, 176-200
  8. Alexander Grommes, Impact of Audit Assurance on the Quality of Sustainability Reporting, 201-235
  9. Philipp Rittgen, Understanding the Effect of Hedge Fund Activism on the Target Firm – A Qualitative Study on Shareholder Value, 236-266
  10. Gabriel Benedikt Thomas Adams, Energy-Aware Production Planning with Renewable Energy Generation Considering Combined Battery- and Hydrogen-Based Energy Storage Systems, 267-291
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Success Factors and Development Areas for the Implementation of Generative AI in Companies

Julian Anton Meyer, Technical University of Munich (Bachelor thesis)
Junior Management Science 10(1), 2025, 1-23

With the significant increase in public interest in ChatGPT since its breakthrough following the public release in November 2022, an expanding array of application possibilities is being discovered. This heightened interest is also reflected in economic contexts and for businesses. These Generative AI (GenAI) models are believed to have the potential to contribute trillions of dollars in value to the global economy. Now, pioneering companies face the challenge of successfully leveraging this Generative AI technology to their advantage, positioning themselves successfully at the forefront of AI. The adoption of Generative AI proves to be neither straightforward nor simple for companies and is associated with various challenges. Within this thesis, these challenges will be identified by conducting a multiple-case study involving expert interviews. Practical insights will be obtained to identify the decisive factors for the successful adoption of Generative AI, and these insights will be translated into a hands-on implementation framework for companies.

Keywords: ChatGPT Enterprise; Generative AI; GenAI; GenAI adoption; GenAI framework.

DOI: https://www.doi.org/10.5282/jums/v10i1pp1-23

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Diversity Within Top Management Teams: The Effects of Diversity Within Boards Towards Managerial Attention on Digital Transformation

Vincent Alberth-Jan Cremer, University of Groningen (Master thesis)
Junior Management Science 10(1), 2025, 24-43

Digital transformation (DT) is crucial for firms to stay competitive, yet few fully embrace it. DT goes beyond moving from analogue to digital; it necessitates a complete restructuring of business models, including customer experiences and internal structures. Leadership significantly impacts strategic decision-making, as Hambrick (2007) notes. A board’s diversity and composition affect a firm’s decisions. Diversity in TMT can enhance innovation and creativity or increase friction and conflicts. While much research exists on these topics, examining managerial focus on DT and TMT diversity using Harrison and Klein’s (2007) framework is new. As DT becomes more important, firms must understand TMT diversity’s role. I argue that top management’s demographic characteristics are positively influenced by diverse education, tenure, and network, with a negative moderating effect of age and gender heterogeneity. This study found that in cumulative DT efforts, there are effects between age and tenure, and gender and network. Age separation decreases tenure’s positive effect, and gender separation diminishes the positive effect of diverse networks, suggesting inconsistencies with Hambrick’s (2007) theory.

Keywords: Blue’s Index; digital transformation; diversity; top management teams; Upper Echelon Theory.

DOI: https://www.doi.org/10.5282/jums/v10i1pp24-43

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Good as Gold or Merely Glitter? Elite Board Members’ Impact on Firm Performance

Veronika Timoschenko, Ludwig Maximilian University of Munich (Master thesis)
Junior Management Science 10(1), 2025, 44-69

This thesis investigates the influence of elite supervisory board members on the performance of German firms. Following the transformation of the German business landscape post-reunification, elite board members, characterized by their exceptional social capital, continue to play a crucial role. Using resource dependence theory, the study explores the link between board members‘ social capital and firm performance. Leveraging a yearly ranking of the top 30 most powerful supervisory board members to identify elite members, this thesis analyses their influence on firm performance. Contrary to expectations, the results show a significant negative impact of elite board members on accounting-based performance and no significant effect on market-based performance. The expected stronger effect of having an elite board chair was not supported. These findings encourage a reevaluation of the assumed benefits of elite board membership, suggesting underlying complex dynamics. The thesis concludes with implications for corporate governance, limitations of the study, and directions for future research.

Keywords: corporate governance; elite board members; firm performance; social capital; supervisory board.

DOI: https://www.doi.org/10.5282/jums/v10i1pp44-69

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Looking Behind the Fading Feminist Façade of #Girlboss

Cornelia Kees, Technical University of Munich (Master thesis)
Junior Management Science 10(1), 2025, 70-94

This study investigates the media representation of female entrepreneurs in newspaper and magazine articles from 2014 to 2022. By employing a quantitative content analysis of 192 articles, the study examines dominant narratives, entrepreneurial identities, ethical behaviors, challenges depicted, and tone used across various mediums and countries, thereby addressing a gap in literature focused on single media or country contexts. Results indicate a predominantly positive portrayal of female entrepreneurship, often framed within a heroic narrative. Representations of entrepreneurial femininities are conspicuously underrepresented in the analyzed articles, with relational entrepreneurial femininity prevailing as the principal depiction. However, while ethical behaviors are more frequently highlighted than non-ethical ones, attributes of female entrepreneurs as innovative or genius are notably absent. The most commonly cited challenge is resource constraints. These insights suggest that while entrepreneurship remains a male-dominated concept in media, positive depictions of female entrepreneurs and their relevant skills are emerging, potentially inspiring and supporting future female entrepreneurs.

Keywords: entrepreneurial femininity; ethical behaviour; female entrepreneurship; media portrayal; sentiment analysis.

DOI: https://www.doi.org/10.5282/jums/v10i1pp70-94

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Copreneurial Couples in Startups: A Comprehensive Analysis of Copreneurial Couples in Startups Compared to Classical Businesses

Eliza Alena Marie Weitzel, Technical University of Munich (Master thesis)
Junior Management Science 10(1), 2025, 95-134

Due to a lack of attention in research to draw a connection between couple businesses and their existence as a form of startup teams, this paper aims to provide deeper insights into the structure and behavior of copreneurial couples in startups. This lack needs to be addressed due to the increase of these phenomena and possible outcomes for the startup world, as copreneurial couples in startups tend to be viewed as red flags without proof of this being valid. For this purpose, a qualitative, theory-building research approach was chosen, in which copreneurial couples of startups and classical businesses were interviewed. As a result, a comprehensive model of the development dynamics of copreneurial couples and a hands-on framework were created. The main finding is limited differences between copreneurial couples in startups and classical businesses regarding motivations, processes, challenges, and opportunities when combining work and private life. The primary differentiation lies in the amount of workload, the variation in the procurement of external financial resources, and the environment they are navigating in. The work confirms parts of the previous literature but also provides new insights into communication, work-life balance, decision-making processes, and external influences. Finally, the framework can be used by copreneurial couples to structure, prioritize, and navigate the challenge of wholly combining their work and private domain.

Keywords: copreneurial couples; copreneurship; couple business; startups; team dynamics.

DOI: https://www.doi.org/10.5282/jums/v10i1pp95-134

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Employment with Autism: What Are Educational and Adaptive Needs of Employers in Austria from the Perspective of Women with Low-Symptom Autism?

Antonia Cichocki, Vienna University of Economics and Business (Master thesis)
Junior Management Science 10(1), 2025, 135-175

People on the autism spectrum have little chance of finding adequate, satisfying, and long-term employment in the primary labor market, and little is known about the factors that promote labor market participation from the perspective of individuals with autism. In this master’s thesis, a qualitative study was conducted to investigate which educational and adaptive measures on the part of employers lead to the successful employment of people with autism in Austria. Eleven female autistic experts and two neurotypical experts on autism and work identified framework conditions for the employment success of autistic people as well as needs for change in the recruitment, onboarding and retention phases of organizations. The findings were presented in a comprehensive model and can be summarized as follows: People on the autism spectrum need more clarity in communication, they have a greater need for structure and predictability, and they require more support than neurotypical people in some areas of everyday work. Thus, employers in the primary labor market should address these needs and create an inclusive and understanding work environment that is lived authentically. As such, this work has important implications for both diversity management practice and research on autism and work.

Keywords: autism; diversity management; inclusion; labor market.

DOI: https://www.doi.org/10.5282/jums/v10i1pp135-175

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“Well, Now They Know”: How Mental Illness Identity Management Strategies Influence Leaders’ Responses

Paula Bao Quiero, Technical University of Munich (Master thesis)
Junior Management Science 10(1), 2025, 176-200

The high prevalence of mental illnesses and their significant social and economic impact highlight the need for organizations to provide resources to support employee well-being. Given that leaders are key in connecting employees to such resources, understanding their responses to employees with mental health issues is crucial. Using vignettes and semi-structured interviewing, we explored how 15 leaders responded to employees with mental health issues depending on the identity management (IM) strategies they used. Through an inductive approach, we identified the emotional and cognitive processes behind leaders’ intentions to behave in three scenarios: when an employee shows warning signs of mental health issues, when they disclose their condition, and when they cover it up by using a personal problem as an excuse. Our findings show that a strategy that denotes transparency and active coping is more likely to lead to positive interpersonal outcomes and a higher level of social support. However, unintended stigma can turn this support into a double-edged sword, leading to negative professional outcomes. We further identified leaders’ training needs regarding mental health management in the workplace. We conclude by discussing theoretical and practical implications of our findings.

Keywords: disclosure; diversity; identity management; mental illness; stigma.

DOI: https://www.doi.org/10.5282/jums/v10i1pp176-200

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Impact of Audit Assurance on the Quality of Sustainability Reporting

Alexander Grommes, Catholic University of Eichstätt-Ingolstadt (Master thesis)
Junior Management Science 10(1), 2025, 201-235

The subject of sustainability reporting is becoming increasingly important. In consequence of the implementation of the Corporate Sustainability Reporting Directive, a substantial number of companies will be required to have their sustainability reports audited beginning from financial year 2024. This paper examines the influence of external assurance on the quality of those sustainability reports. Therefore, the reports of all DAX and MDAX companies for financial year 2022 are examined using a novel textual analysis approach, to determine the individual report quality. The results demonstrate that there is no statistically significant relationship between assurance level and the quality of sustainability reports. Conversely, it was found that companies that are acting sustainable disclose a higher quantity of information and are more likely to demand voluntary assurance of their reports. These findings offer insights into the implications of assurance on sustainability reporting. Furthermore, the detailed overview of traditional and state-of-the-art textual analysis methods offers researchers a valuable resource for identifying the most appropriate methods to address their individual research questions.

Keywords: audit assurance; CSRD; natural language processing; sustainability reporting; textual analysis.

DOI: https://www.doi.org/10.5282/jums/v10i1pp201-235

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Understanding the Effect of Hedge Fund Activism on the Target Firm – A Qualitative Study on Shareholder Value

Philipp Rittgen, EBS Business School (Master thesis)
Junior Management Science 10(1), 2025, 236-266

This thesis represents a qualitative study analyzing a comprehensive interview dataset of long-standing target executives, investment bankers, and activist specialists to improve our understanding of the effects of hedge fund activism on target firms. Hedge funds possess a broad set of tools to alter the firm’s trajectory for long-term value creation or short-term gains that may compromise long-term growth. As such, engagement is shaped by several factors, including the fund’s incentives, fund size, credibility, and geography. Understanding these drivers is vital in comprehending the dynamics of hedge fund activism to increase shareholder value. However, understanding engagement does not directly translate into understanding the consequences for the target firm. Therefore, this thesis provides a theoretical model grounded in shareholder theory that conceptualizes the impact of measures based on their effectiveness to unlock value in the short – or long-term horizon. This research reveals that different measures have distinct temporal implications for value creation, showing that hedge fund activists often advocate for measures aimed at unlocking immediate shareholder value, while the long-term consequences depend upon the alignment with the target firm’s overarching strategy.

Keywords: hedge fund activism; shareholder theory.

DOI: https://www.doi.org/10.5282/jums/v10i1pp236-266

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Energy-Aware Production Planning with Renewable Energy Generation Considering Combined Battery- and Hydrogen-Based Energy Storage Systems

Gabriel Benedikt Thomas Adams, Technical University of Berlin (Bachelor thesis)
Junior Management Science 10(1), 2025, 267-291

This study investigates the capacity of a developed production planning model to coordinate energy management within a hybrid energy system. The specific focus is on energy-intensive manufacturing firms utilizing renewable energy generation and energy storage. Unlike prior research in the field of energy-aware production planning, which revealed considerable cost saving potentials for the consideration of energy storage, this study considers a combined battery- and hydrogen-based energy storage with more realistic technology modeling. A formal mathematical model is developed as a mixed-integer linear program. Moreover, the cost saving potential of the combined energy storage system in energy-aware production planning is investigated based on numerical experiments. The experiments reveal that the implementation of the proposed planning approach saves significant costs compared to a baseline scenario. Up to 29.3% cost saving potentials can be reached. In particular, the battery storage achieves significant energy cost savings while the hydrogen storage improves independence from fluctuating energy tariffs and availability of renewable energy. Possible model extensions are suggested to enhance the utilization of the proposed planning approach.

Keywords: energy-aware production planning; energy storage systems; hydrogen; mixed-integer linear programming; renewable energy generation.

DOI: https://www.doi.org/10.5282/jums/v10i1pp267-291

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