v7i5 – Junior Management Science

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Junior Management Science, Volume 7, Issue 5, September 2022

Pauline Tilla Rittstieg, Convincing investors: A study of personal, adapted storytelling and strategic behavior in entrepreneurial fundraising, 1193-1223
Marc A. Richly, Big Data Analytics Capabilities: A Systematic Literature Review on Necessary Skills to Succeed in Big Data Analytics, 1224-1241
Jette Fabian, Effects of Internal Auditing on the Quality of Financial Reporting – A Critical Analysis, 1242-1269
Jonas Franz Buerkner, Understanding the Impact of Future Social Self-Concepts on Newcomer Adjustment, 1270-1288
Cosima Friedle, How Can Fairness Tools Impact the Understanding of Fairness and the Processes Within a Machine Learning Development Team?, 1289-1300
Samuel Hammer, A Data Protection Law Analysis of the New German Electronic Patient Records (ePA) in the Light of the GDPR, 1301-1325
Christian Stöhr, The Effect of Micro-Entrepreneurship on Migration Plans of Young Adults in Rural Sub-Saharan Africa and the Mediating Role of Subjective and Economic Well-Being, 1326-1360
Daniel Schachtsieck, Battle of Realities – a Qualitative-Empirical Analysis of the Use of Augmented and Virtual Reality in Sales, 1361-1375
Maximilian Janussek, Blessing or Curse? The Influence of Neobrokers on the Investment Behavior of Young Investors, 1376-1400
Laura John, Rethinking digital governance – How collaborative innovation strategies advance the development of digital innovations in public organisations, 1401-1419

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Convincing investors: A study of personal, adapted storytelling and strategic behavior in entrepreneurial fundraising

Pauline Tilla Rittstieg, Technical University of Munich (Master thesis)
Junior Management Science 7(5), 2022, 1193-1223

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This inductive study explores the process, through which legitimacy is established for financial resource acquisition, by analyzing the accounts of 15 entrepreneurs on their storytelling and fundraising strategies. The findings show that consistent personal storytelling, venture story adaptation, and strategic behavior increase a venture’s chances of receiving financial investments. Taking an entrepreneur-centric perspective in analyzing the practical implementation of cultural entrepreneurship theory, the findings have strong theoretical implications. They suggest extending the model of cultural entrepreneurship to include entrepreneurs’ behavior throughout the resource acquisition process. They further contradict the theory that a venture’s legitimacy only depends on its existing resources, suggesting that it is also based on the venture’s founder’s storytelling skills and behavior. As for practical implications, the findings show that investment decisions are not purely fact-based but influenced by investors’ emotional involvement and the hype around the venture among investors, which are both a consequence of skillful storytelling and strategic behavior. The study illustrates several effective storytelling and fundraising strategies, providing practical examples for each.

Keywords: Venture legitimacy; Fundraising; Fundraising strategy; Storytelling; Cultural entrepreneurship.

DOI: https://doi.org/10.5282/jums/v7i5pp1193-1223

Big Data Analytics Capabilities: A Systematic Literature Review on Necessary Skills to Succeed in Big Data Analytics

Marc A. Richly, Ludwig Maximilian University of Munich (Master thesis)
Junior Management Science 7(5), 2022, 1224-1241

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While the amount of data keeps growing, managers ask themselves whether they already retrieve full value from their data. To maximize the value of big data, literature offers first insights in building BDA capabilities (Gupta and George 2016, p; Mikalef et al. 2018). Nevertheless, BDA remains a new field to researchers and companies. BDA frameworks, still offered scarcely, discuss roughly the same dimensions (incorporating some technical, human, and cultural aspects), but are only superficially discussed. This thesis builds a framework of the different approaches offered in literature. Furthermore, it is important to distinguish whether a new development as BDA can be seen as a trend topic or rather a long-lasting game changer for businesses. Here, this thesis discusses differences among digital capabilities, IT capabilities, that research stared addressing by 1990, and BDA capabilities. A major finding is that building IT capabilities is considered as an isolated responsibility of IT departments by, i.e., offering IT infrastructure to the whole company. BDA capabilities, on the contrary, cannot be planned and rolled out from one specific department – those need to be developed in every organizational unit; therefore, a data-driven culture is a key element in building BDA capabilities.

Keywords: Big data analytics; Big data; Data analytics; Dynamic capabilities; Resource-based view.

DOI: https://doi.org/10.5282/jums/v7i5pp1224-1241

Effects of Internal Auditing on the Quality of Financial Reporting – A Critical Analysis

Jette Fabian, University of Hamburg (Master thesis)
Junior Management Science 7(5), 2022, 1242-1269

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In order to uncover the weaknesses in corporate governance revealed by both accounting scandals and the financial crisis, one possible solution is for internal auditing, as a process-independent in-house auditing institution, to continuously monitor and improve the effectiveness of measures taken within the framework of governance and risk management. In addition to presenting both definitional basics and the normative and conceptual framework, this paper critically analyzes whether and to what extent internal auditing has an impact on the quality of financial reporting and how it should be designed in order to optimally fulfill its mandate to the respective company management. As a result, a high-quality internal audit, as one of the four pillars of corporate governance, can represent a significant success factor in reducing earnings management, uncovering accounting manipulation and, thus, avoiding accounting scandals. The decisive factor for positively influencing financial reporting is the consideration of the key drivers of internal audit quality as well as the alignment of audit procedures with predefined frameworks.

Keywords: Internal audit; Corporate governance; Financial reporting quality; Earnings quality.

DOI: https://doi.org/10.5282/jums/v7i5pp1242-1269

Understanding the Impact of Future Social Self-Concepts on Newcomer Adjustment

Jonas Franz Buerkner, Technical University of Munich (Bachelor thesis)
Junior Management Science 7(5), 2022, 1270-1288

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The purpose of this study is to investigate the impacts of future social self-concepts on newcomer short-term adjustment. Employing a qualitative longitudinal design based on interviews, this work aims to uncover how the shape of identities before and three weeks after entry, as well as the identity processes between them, impact adjustment success. This is important because adjustment is a precursor for job outcomes, such as performance, satisfaction, and intentions to remain. In the first part, the relevance of identities for job outcomes is carved out and major theoretical contributions to identity and socialization are identified and presented. The thesis then discusses a fitting methodology for studying identity and describes key methodological choices. Three newcomers participated in the narrative-based interviews. The first interview was conducted shortly before the second interview three weeks after organizational entry. The interviews were audio-recorded, transcribed, and coded employing an abductive coding procedure. The results support the view that identity plays a key role in newcomer socialization and illustrate currently discussed identity processes. The complexity of self-concept phenomena involved in newcomer socialization calls for further research efforts.

Keywords: Newcomer socialization; Newcomer adjustment; Self-concept; Possible selves; Identity partnership.

DOI: https://doi.org/10.5282/jums/v7i5pp1270-1288

How Can Fairness Tools Impact the Understanding of Fairness and the Processes Within a Machine Learning Development Team?

Cosima Friedle, London School of Economics and Political Science (Master thesis)
Junior Management Science 7(5), 2022, 1289-1300

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Over the last years, a wide spread of Machine Learning in increasingly more, especially sensitive areas like criminal justice or healthcare has been observed. Popular cases of algorithmic bias illustrate the potential of Machine Learning to reproduce and reinforce biases present in the analogous world and thus lead to discrimination. The realisation of this potential has led to the creation of the research stream on fair, accountable and transparent Machine Learning. One aspect of this research field is the development of fairness tools, algorithmic toolkits that aim to assist developers of Machine Learning in identifying and eliminating bias in their models and thus ensuring fairness. The literature review on fairness tools has revealed a research gap in the impact of these on the understanding of fairness and the processes within a development team. Thus, the aim of this research was to investigate the impact that fairness tools can have on the notion of fairness and the processes in a development team. Therefore, a case study with a development team of a large, globally operating corporation has been conducted. Applying Kallinikos´ theory of technology as a regulative regime and Oudshoorn and Pinch´s idea of the co-construction of users and technologies on the empirical findings revealed two important conclusions. Firstly, it shows that fairness tools act as regulative regimes by shaping the understanding of fairness and the processes within a development team. Secondly, this character of fairness tools as regulative regimes needs to be understood as part of the coconstruction process between the technology and the developer.

Keywords: Machine learning; Fairness; Fairness tools; Regulative regime of technology; Co-construction of user and technology.

DOI: https://doi.org/10.5282/jums/v7i5pp1289-1300

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A Data Protection Law Analysis of the New German Electronic Patient Records (ePA) in the Light of the GDPR

Samuel Hammer, FOM University of Applied Sciences for Economics and Management (Bachelor thesis)
Junior Management Science 7(5), 2022, 1301-1325

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A lengthy discussion about the digitization and modernization of the German healthcare system is followed by the obligation for health insurance companies to introduce electronic patient records (ePA). This regulation faces resistance from Germany’s highest data protection authority (BfDI). On the basis of relevant commentary literature and considering the arguments put forward by the stakeholders this study examines, whether the criticism of the authority is justified and whether a violation of the GDPR could lie in the implementation of the ePA. As a result of the study, no such violation can be determined. Especially the conditions for the effectiveness of consent to data pro-cessing are given. The introduction of the German ePA will take place in two stages, with the second stage including improvements regarding data protection. Thus, the result of the work can also be applied ‚a maiore ad minus‘ to the second stage which is planned for 2022. It remains unclear whether the data protection authority (BfDI) will take further legal measures. This study affects also other research topics, such as the „right to data processing“ or the role of German data protection authorities in legislative processes.

Keywords: Electronic patient records; ePA; GDPR; Data protection; Germany.

DOI: https://doi.org/10.5282/jums/v7i5pp1301-1325

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The Effect of Micro-Entrepreneurship on Migration Plans of Young Adults in Rural Sub-Saharan Africa and the Mediating Role of Subjective and Economic Well-Being

Christian Stöhr, Technical University of Munich (Master thesis)
Junior Management Science 7(5), 2022, 1326-1360

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Entrepreneurship can make a valuable contribution to global poverty reduction. However, poverty is often narrowly defined in terms of income and gross domestic product. Thus, a deep understanding of the impact of entrepreneurship on the development of the Global South cannot be obtained. To address this issue and uncover the transformative potential of entrepreneurship, this paper proposes a model in which both economic and subjective well-being mediate the relationship between micro-entrepreneurship and migration plans of young adults in rural sub-Saharan Africa. The results provide tentative evidence of a negative impact of micro-entrepreneurship on migration plans. Further, it is shown that subjective well-being explains part of the negative association between micro-entrepreneurship and migration plans. While those results hold for entrepreneurs in low-income countries and agricultural entrepreneurs, no evidence is found for entrepreneurs in middle/high-income countries and non-farm entrepreneurs. Contrary to expectations, the mediating role of economic well-being is not significant for either the entire group of micro-entrepreneurs or its subgroups. Finally, economic and subjective well-being as measures of poverty alleviation are found to be positively correlated.

Keywords: Entrepreneurship; Migration; Subjective well-being; Sub-saharan africa.

DOI: https://doi.org/10.5282/jums/v7i5pp1326-1360

Battle of Realities – a Qualitative-Empirical Analysis of the Use of Augmented and Virtual Reality in Sales

Daniel Schachtsieck, Ruhr University Bochum (Bachelor thesis)
Junior Management Science 7(5), 2022, 1361-1374

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Many companies are unaware of the possible uses of augmented reality and virtual reality and the resulting potential. Current research also shows large gaps in this area. The aim of this work is to develop a decision-making aid for their use in sales. In addition, a general understanding of the application of both technologies in sales is to be created and specific potentials are to be revealed by analyzing them against the background of selected criteria in different sales areas. For this purpose, a qualitative empiricism is carried out in the form of expert interviews. Finally, implications for practice are derived in an assignment matrix with application examples. This paper shows that companies are already successfully using the technologies in different sales areas and that salespeople are aware of their added value. The use of the technologies will increase, as will the user acceptance of the customers, due to the progressing generational change. By combining theoretical basics with expert knowledge from practice, the work expands the level of knowledge about the use of augmented reality and virtual reality in sales.

Keywords: Augmented reality; Virtual reality; Digitalization.

DOI: https://doi.org/10.5282/jums/v7i5pp1361-1374

Blessing or Curse? The Influence of Neobrokers on the Investment Behavior of Young Investors

Maximilian Janussek, Technical University of Munich (Master thesis)
Junior Management Science 7(5), 2022, 1375-1399

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My thesis addresses the topic related to the impact of neobrokers on the investment behavior of investors. I deal with the questions of which target groups are particularly attracted by neobrokers, for which investment strategies neobrokers are primarily used, and to what extent the design of the neobroker applications plays a significant role in the investment decisions of its users. Based on my online-based questionnaire, it can be determined that neobroker customers are predominantly younger and willing to take more risk compared to customers of branch or direct banks. Moreover, neobrokers are used for short-term investments and not for retirement planning. Here, the design of neobroker applications has a decisive influence on the trading behavior of its users. Not only is the risk of shares assessed differently due to the representations of the stock prices within the neobroker applications but buys as well as sells are carried out more frequently using neobrokers than in comparison to traditional broker providers. Ultimately, I also show that a learning section including a knowledge check of the newly acquired financial expertise within the neobroker applications is perceived as helpful by its users as it is for customers of traditional financial service providers.

Keywords: Neobroker; Trading; Fintech; Attention-grabbing.

DOI: https://doi.org/10.5282/jums/v7i5pp1375-1399

Rethinking digital governance – How collaborative innovation strategies advance the development of digital innovations in public organisations

Laura John, University of Münster (Bachelor thesis)
Junior Management Science 7(5), 2022, 1400-1418

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Digital innovations bear the potential to increase the efficiency and transparency of governments and create more accessible and user-centric public services. However, public organisations are facing several challenges in the development of digital innovations and the unique democratic requirements imply that digital services cannot simply be procured from private contractors. Hence, a new strategy called collaborative innovation appears to be a possible solution, but few institutional designs have been found to sustain collaborative innovation in the present governance system. Therefore, this thesis investigates the unexplored phenomenon of innovation fellowship programmes by conducting a diagnostic case study about Tech4Germany with a focus on the research question: How does the fellowship programme Tech4Germany contribute to the development of digital innovations in German public sector organisations? Interviews with participants of Tech4Germany revealed that fellowship programmes are a suitable institutional design for collaborative innovation as they create an attractive setting for tech experts and provide public employees a unique room to experience agile and user-centric approaches. In particular, mutual learning is stimulated, and the implementation resistance reduced.

Keywords: Collaborative innovation; Fellowship programmes; Public innovation; Digital transformation.

DOI: https://doi.org/10.5282/jums/v7i5pp1400-1418