{"id":34817,"date":"2018-12-14T19:20:16","date_gmt":"2018-12-14T19:20:16","guid":{"rendered":"https:\/\/jums.academy\/v3i4\/"},"modified":"2022-11-18T08:40:45","modified_gmt":"2022-11-18T08:40:45","slug":"v3i4","status":"publish","type":"page","link":"https:\/\/jums.academy\/en\/v3i4\/","title":{"rendered":"v3i4"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-background-position:left top;--awb-border-sizes-top:0px;--awb-border-sizes-bottom:0px;--awb-border-sizes-left:0px;--awb-border-sizes-right:0px;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:20px;--awb-padding-bottom:20px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#000000;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-unboxed\" id=\"accordion-34817-1\"><div class=\"fusion-panel panel-default panel-62cc47027ccb531c9 fusion-toggle-no-divider\" style=\"--awb-title-color:#333333;--awb-content-color:#333333;\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_62cc47027ccb531c9\"><a aria-expanded=\"false\" aria-controls=\"62cc47027ccb531c9\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-1\" data-target=\"#62cc47027ccb531c9\" href=\"#62cc47027ccb531c9\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">All published articles sorted by issues<\/span><\/a><\/h4><\/div><div id=\"62cc47027ccb531c9\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_62cc47027ccb531c9\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<ul style=\"list-style-type: none;\">\n<!--li><a href=\"https:\/\/jums.academy\/en\/v10i4-3\/\">Junior Management Science, Volume 11, Issue 1, March 2026<\/a><\/li-->\n<li><a href=\"https:\/\/jums.academy\/en\/v10i4\/\">Junior Management Science, Volume 10, Issue 4, December 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i3\/\">Junior Management Science, Volume 10, Issue 3, September 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i2\/\">Junior Management Science, Volume 10, Issue 2, June 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v10i1\/\">Junior Management Science, Volume 10, Issue 1, March 2025<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i4\/\">Junior Management Science, Volume 9, Issue 4, December 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i3\/\">Junior Management Science, Volume 9, Issue 3, September 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i2\/\">Junior Management Science, Volume 9, Issue 2, June 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v9i1\/\">Junior Management Science, Volume 9, Issue 1, March 2024<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i4\/\">Junior Management Science, Volume 8, Issue 4, December 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i3\/\">Junior Management Science, Volume 8, Issue 3, September 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i2\/\">Junior Management Science, Volume 8, Issue 2, June 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v8i1\/\">Junior Management Science, Volume 8, Issue 1, March 2023<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i5\/\">Junior Management Science, Volume 7, Issue 5, December 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i4\/\">Junior Management Science, Volume 7, Issue 4, September 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i3\/\">Junior Management Science, Volume 7, Issue 3, July 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i2\/\">Junior Management Science, Volume 7, Issue 2, June 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v7i1\/\">Junior Management Science, Volume 7, Issue 1, March 2022<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i4\/\">Junior Management Science, Volume 6, Issue 4, December 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i3\/\">Junior Management Science, Volume 6, Issue 3, September 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i2\/\">Junior Management Science, Volume 6, Issue 2, June 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v6i1-2\/\">Junior Management Science, Volume 6, Issue 1, March 2021<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i4\/\">Junior Management Science, Volume 5, Issue 4, December 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i3\/\">Junior Management Science, Volume 5, Issue 3, September 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i2\/\">Junior Management Science, Volume 5, Issue 2, June 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v5i1\/\">Junior Management Science, Volume 5, Issue 1, March 2020<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i4\/\">Junior Management Science, Volume 4, Issue 4, December 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i3\/\">Junior Management Science, Volume 4, Issue 3, September 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i2\/\">Junior Management Science, Volume 4, Issue 2, June 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v4i1\/\">Junior Management Science, Volume 4, Issue 1, March 2019<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i4\/\">Junior Management Science, Volume 3, Issue 4, December 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i3\/\">Junior Management Science, Volume 3, Issue 3, September 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i2\/\">Junior Management Science, Volume 3, Issue 2, June 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v3i1\/\">Junior Management Science, Volume 3, Issue 1, March 2018<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v2i3\/\">Junior Management Science, Volume 2, Issue 3, December 2017<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v2i2\/\">Junior Management Science, Volume 2, Issue 2, September 2017<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v2i1\/\">Junior Management Science, Volume 2, Issue 1, June 2017<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v1i2\/\">Junior Management Science, Volume 1, Issue 2, December 2016<\/a><\/li>\n<li><a href=\"https:\/\/jums.academy\/en\/v1i1\/\">Junior Management Science, Volume 1, Issue 1, June 2016<\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div>\n<div class=\"fusion-title title fusion-title-1 fusion-title-text fusion-title-size-five\" style=\"--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-bottom-small:20px;--awb-margin-left-small:0px;--awb-sep-color:#000000;\"><h5 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:18;--minFontSize:18;line-height:1.38;\"><\/h5><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container\"><div class=\"title-sep sep-single sep-solid\" style=\"border-color:#000000;\"><\/div><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-title title fusion-title-2 fusion-sep-none fusion-title-text fusion-title-size-four\" style=\"--awb-margin-bottom:-5px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-bottom-small:20px;--awb-margin-left-small:0px;\"><h4 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:26;line-height:1.43;\"><h4><strong>Junior Management Science, Volume 3, Issue 4, December 2018<\/strong><\/h4><\/h4><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_5 1_5 fusion-one-fifth fusion-column-first\" style=\"--awb-bg-size:cover;width:20%;width:calc(20% - ( ( 4% ) * 0.2 ) );margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element fusion-image-align-center in-legacy-container\" style=\"text-align:center;--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><div class=\"imageframe-align-center\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"1100\" height=\"1556\" title=\"PowerPoint-Pr\u00e4sentation\" src=\"https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=1100%2C1556&#038;ssl=1\" alt class=\"img-responsive wp-image-33730\" srcset=\"https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=200%2C283&amp;ssl=1 200w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=212%2C300&amp;ssl=1 212w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=400%2C566&amp;ssl=1 400w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=600%2C849&amp;ssl=1 600w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=724%2C1024&amp;ssl=1 724w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=768%2C1086&amp;ssl=1 768w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=800%2C1132&amp;ssl=1 800w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?resize=1200%2C1698&amp;ssl=1 1200w, https:\/\/i0.wp.com\/jums.academy\/wp-content\/uploads\/2018\/12\/Deckblatt_PP_V3I4.jpg?w=1500&amp;ssl=1 1500w\" sizes=\"(max-width: 800px) 100vw, 400px\" \/><\/span><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_4_5 4_5 fusion-four-fifth fusion-column-last\" style=\"--awb-bg-size:cover;width:80%;width:calc(80% - ( ( 4% ) * 0.8 ) );\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-1\"><ol>\n<li><a href=\"#A1\"><b>Marius Max Lucas Mayer,<\/b> Cryptocurrencies as an Alternative Asset Class, 1-29<\/a><\/li>\n<li><a href=\"#A2\"><b>Markus Probst<\/b>, Economic- and Non-Economic Goals of Family Firms, 30-47<\/a><\/li>\n<li><a href=\"#A3\"><b>Nico Boll,<\/b> Is the use of management accounting in startups a paradox? &#8211; A systematic literature review of how static management accounting practices can support dynamic startups, 48-64<\/a><\/li>\n<li><a href=\"#A4\"><b>Marie Wehinger<\/b>, Corporate Social Responsibility: A Qualitative Analysis on the Strategy Formulation Process, 65-80<\/a><\/li>\n<li><a href=\"#A5\"><b>Nico Severitt<\/b>, International Strategic Emphasis, Marketing Capabilities und Shareholder Value: Die finanziellen Implikationen des Trade-offs zwischen internationaler Wertgenerierung und internationaler Wertsch\u00f6pfung, 81-113<\/a><\/li>\n<li><a href=\"#A6\"><b>Maximilian Blaschke<\/b>, The influence of political regulations and market design on energy storage systems, 114-145<\/a><\/li>\n<\/ol>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-first fusion-column-no-min-height\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-bg-size:cover;width:13.3333%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-aligncenter\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2018\/12\/JUMS_Volume3_Issue4_2018.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read issue<\/span><\/a><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_2 1_2 fusion-one-half fusion-column-no-min-height\" style=\"--awb-bg-size:cover;width:48%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div style=\"width: 2px; height: 2px;\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-no-min-height\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-bg-size:cover;width:13.3333%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-aligncenter\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-2 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_self\" href=\"https:\/\/jums.academy\/en\/submit\/\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Submit thesis now<\/span><\/a><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-last fusion-column-no-min-height\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-bg-size:cover;width:13.3333%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-aligncenter\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-3 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_self\" href=\"https:\/\/jums.academy\/en\/newsletter\/\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Keep up to date<\/span><\/a><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-10 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-2\"><p><a name=\"A1\"><\/a><\/p>\n<h5 style=\"text-align: left;\"><strong>Cryptocurrencies as an Alternative Asset Class<\/strong><\/h5>\n<p>Marius Max Lucas Mayer, Goethe University Frankfurt\u00a0(Master thesis)<br \/>\nJunior Management Science 3(4), 2018, 1-29<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34817-2\"><div class=\"fusion-panel panel-default panel-29150aee33d24d687 fusion-toggle-no-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_29150aee33d24d687\"><a aria-expanded=\"false\" aria-controls=\"29150aee33d24d687\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-2\" data-target=\"#29150aee33d24d687\" href=\"#29150aee33d24d687\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"29150aee33d24d687\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_29150aee33d24d687\"><div class=\"panel-body toggle-content fusion-clearfix\">Bitcoin was the first digital currency to rely on a decentralized peer-to-peer network instead of a trusted third party. This was achieved through Bitcoin\u2019s revolutionary underlying technology based on cryptographic proof: the blockchain. After Bitcoin\u2019s emergence, many other so called cryptocurrencies entered the market and we have seen enormous price increases that promised large returns for early users. The return characteristics of cryptocurrencies have been studied by various scholars and some have even declared cryptocurrencies to be an asset class instead of a digital currency. Due to the fast changes in the cryptocurrency market and the increased importance of other cryptocurrencies than Bitcoin, we believe that research focusing on the financial performance of cryptocurrencies should be renewed on a regular basis. Therefore, with this work we aim to shed light on the return characteristics of cryptocurrencies in relation to traditional asset classes and on the potential of cryptocurrencies to improve portfolio diversification. In addition, we investigate the cryptocurrency market, describe selected cryptocurrencies in more detail and provide an overview of potential technological risks arising with the use of cryptocurrencies. Our results indicate that cryptocurrencies provide large return potentials with high levels of volatility but compared to traditional asset classes provide a higher level ofreturn per level of risk. We also find that selected cryptocurrencies can improve diversification in a cryptocurrency portfolio, as well as in a portfolio of international equity and private equity investments.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-3\"><p><em>Keywords: Alternative Asset Classes, Cryptocurrency, Portfolio Diversification,<br \/>\n<\/em><em>Risk-Reward Profile und Cryptocurrency Risks<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-4 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2020\/01\/MA_Mayer.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-4\"><div style=\"width: 2px; height: 5px;\"><\/div>\n<p style=\"text-align: right;\"><a href=\"https:\/\/jums.academy\/en\/m-mayer\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 15px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-11 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-5\"><p><a name=\"A2\"><\/a><\/p>\n<h5 style=\"text-align: left;\"><strong>Economic- and Non-Economic Goals of Family Firms<\/strong><\/h5>\n<p>Markus Probst, Otto Beisheim School of Management (Bachelorarbeit)<br \/>\nJunior Management Science 3(4), 2018, 30-47<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34817-3\"><div class=\"fusion-panel panel-default panel-9745c5e90373f4390 fusion-toggle-no-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_9745c5e90373f4390\"><a aria-expanded=\"false\" aria-controls=\"9745c5e90373f4390\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-3\" data-target=\"#9745c5e90373f4390\" href=\"#9745c5e90373f4390\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"9745c5e90373f4390\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_9745c5e90373f4390\"><div class=\"panel-body toggle-content fusion-clearfix\">Motivated by a lack in the current literature, this thesis reviews academic research on the economic and noneconomic goals of family firms. Heretofore, no detailed overview of different goals embedded in the goal setting-, outcome-, and alignment process has been provided. Using a systematic literature search and review process, I identify 117 relevant studies in the fields of management, economics, and affiliated domains between 1963 and 2018. Beyond a more detailed overview of the current state of research, I outline goal setting, outcomes, alignment, and four different family firm goal classes. Lastly, I show avenues for future research in the family firm\u2013goal field.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-6\"><p><em>Keywords:\u00a0Family firms, economic goals, non-economic goals, socioemotional wealth<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-5 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2018\/12\/BA_Probst.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-7\"><p style=\"text-align: right;\"><a href=\"https:\/\/jums.academy\/en\/m-probst\/\">Zur Artikel-Seite<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-12 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-8\"><p><a name=\"A3\"><\/a><\/p>\n<h5 style=\"text-align: left;\"><strong>Is the use of management accounting in startups a paradox? \u2013 A systematic literature review of how static management accounting practices can support dynamic startups<\/strong><\/h5>\n<p>Nico Boll, Karlsruhe Institute of Technology (Bachelor thesis)<br \/>\nJunior Management Science 3(4), 2018, 48-64<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34817-4\"><div class=\"fusion-panel panel-default panel-f42a0be2e40315c42 fusion-toggle-no-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_f42a0be2e40315c42\"><a aria-expanded=\"false\" aria-controls=\"f42a0be2e40315c42\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-4\" data-target=\"#f42a0be2e40315c42\" href=\"#f42a0be2e40315c42\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"f42a0be2e40315c42\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_f42a0be2e40315c42\"><div class=\"panel-body toggle-content fusion-clearfix\">This paper uses a systematic literature review to study the antecedents and consequences of management accounting (MA) in startup companies. Most literature focuses on large enterprises because it has generally thought that the adoption of MA is counterproductive in small firms. However, some authors state the contrary as to why we examine the empirical literature on this topic to create a wider base of knowledge. Our results indicate that the entrepreneur\u2019s personal, professional and the firm\u2019s characteristics trigger the timing of adoption ofMA and thereupon show beneficial implications to a startup. Besides the positive impact of venture survival, startups that used management accounting practices such as budgeting, financial planning and cost control achieved higher performance in terms of growth.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-9\"><p><em>Keywords: Management accounting, Systematic literature review, Startups, Entrepreneurship<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-6 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2018\/12\/BA_Boll.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-10\"><p style=\"text-align: right;\"><a href=\"https:\/\/jums.academy\/en\/n-boll\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-13 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-11\"><p><a name=\"A4\"><\/a><\/p>\n<h5 style=\"text-align: left;\"><strong>Corporate Social Responsibility: A Qualitative Analysis on the Strategy Formulation Process<\/strong><\/h5>\n<p>Marie Wehinger, Ludwig Maximilian University of Munich (Bachelor thesis)<br \/>\nJunior Management Science 3(4), 2018, 65-80<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34817-5\"><div class=\"fusion-panel panel-default panel-5d081b102a9079dca fusion-toggle-no-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_5d081b102a9079dca\"><a aria-expanded=\"false\" aria-controls=\"5d081b102a9079dca\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-5\" data-target=\"#5d081b102a9079dca\" href=\"#5d081b102a9079dca\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"5d081b102a9079dca\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_5d081b102a9079dca\"><div class=\"panel-body toggle-content fusion-clearfix\">The urge for firms to contribute positively towards the society and the environment is increasing significantly. Demands of employees, customers, governments, NGOs and many more are putting firms under pressure to respond accordingly. Thus, it is vital for firms nowadays to formulate effective corporate social responsibility (CSR) strategies which provide guidelines for the firm\u2019s commitment towards the challenges of the society and environment. Plenty of research exists on the components of CSR strategy formulation, particularly regarding stakeholders, organizational vision and the CEO\u2019s influence. However, it is important to consider the whole process of the strategy formulation and to link the components together. By means of a qualitative analytical approach, I show that the internal input provided by the CEO and the CSR team plays an important role in deciding on certain CSR initiatives. Furthermore, the strategic fit between the potential CSR issues and the core business is a significant criterion. Through assessing the potential value creation, and thus the expected impact scope, prioritizations of CSR issues take place. The continuous monitoring and evaluation of the stakeholders\u2019 needs form an iterative process which leads to a constantly changing CSR strategy focus of the firm. My aim in this paper is to contribute to the understanding of CSR strategy formulation through a CSR strategy formulation process model. The model provides insights into firms\u2019 CSR strategy formulation from which I derive implications for management and further research.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-12\"><p><em>Keywords: Corporate Social Responsibility, Strategy Formulation, Sustainability<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-7 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2018\/12\/BA_Wehinger.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-13\"><p style=\"text-align: right;\"><a href=\"https:\/\/jums.academy\/en\/m-wehinger\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-14 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-14\"><p><a name=\"A5\"><\/a><\/p>\n<h5 style=\"text-align: left;\"><strong>International Strategic Emphasis, Marketing Capabilities und Shareholder Value: Die finanziellen Implikationen des Trade-offs zwischen internationaler Wertgenerierung und internationaler Wertsch\u00f6pfung<\/strong><\/h5>\n<p>Nico Severitt, Georg-August-Universit\u00e4t G\u00f6ttingen (Masterarbeit)<br \/>\nJunior Management Science 3(4), 2018, 81-113<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34817-6\"><div class=\"fusion-panel panel-default panel-0e6d52bcc1a63828b fusion-toggle-no-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_0e6d52bcc1a63828b\"><a aria-expanded=\"false\" aria-controls=\"0e6d52bcc1a63828b\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-6\" data-target=\"#0e6d52bcc1a63828b\" href=\"#0e6d52bcc1a63828b\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"0e6d52bcc1a63828b\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_0e6d52bcc1a63828b\"><div class=\"panel-body toggle-content fusion-clearfix\">Das Management multinationaler Unternehmen ist heutzutage mit dynamischen Umweltbedingungen konfrontiert. Der unternehmerische Erfolg auf den internationalen M\u00e4rkten h\u00e4ngt ma\u00dfgeblich von einer effizienten und effektiven Ressourcenallokation ab. Im Zuge dessen m\u00fcssen Trade-off-Entscheidungen zwischen den Strategieoptionen der internationalen Wertgenerierung und der internationalen Wertsch\u00f6pfung getroffen werden. Die Beziehung zwischen der Internationalisierung und der finanziellen Performance eines Unternehmens wird in der Literatur seit 50 Jahren diskutiert. Aus unterschiedlichen methodischen Herangehensweisen resultieren uneindeutige Ergebnisse. F\u00fcr die Operationalisierung internationaler Aktivit\u00e4ten werden insbesondere wertgenerierende und wertsch\u00f6pfende Gr\u00f6\u00dfen herangezogen. Eine Relation zwischen beiden Ma\u00dfen, und damit die Ber\u00fccksichtigung internationaler Trade-off-Entscheidungen, wird jedoch bislang vernachl\u00e4ssigt. Diese Forschungsl\u00fccke wird in der vorliegenden Studie geschlossen, indem der Einfluss des internationalen Strategie-Trade-offs auf den Shareholder Value untersucht wird. Die Studie prognostiziert hier einen negativen Wirkungszusammenhang. Die Vermutung lautet, dass ein positiver Effekt erst durch ausgepr\u00e4gte Innovations- und Vermarktungsf\u00e4higkeiten ausgel\u00f6st werden kann. Der Resource-Based-View, die Theorie der Liabilities of Foreignness und das Konzept der Dynamic Capabilities bilden ein komplement\u00e4res Framework zur Erkl\u00e4rung dieser Wirkungsbeziehungen. Die empirische Untersuchung basiert auf einer Paneldatenanalyse f\u00fcr ein Sample von 1.399 Unternehmen im Untersuchungszeitraum von 1982 bis 2016. F\u00fcr die Modellierung der Wirkungszusammenh\u00e4nge zwischen den Variablen werden Mehrgleichungsmodelle verwendet. Die zentralen Ergebnisse der Studie zeigen, dass der Einfluss des internationalen Strategie-Trade-offs auf den Shareholder Value insignifikant ist. Investoren ziehen internationale Trade-off-Entscheidungen erst dann in Betracht, wenn das Unternehmen \u00fcber Marketing Capabilities verf\u00fcgt. Einer der Forschungsbeitr\u00e4ge dieser Studie ist die Entwicklung einer neuen relevanten Internationalisierungsvariable. Dar\u00fcber hinaus werden Erkenntnisse aus der Internationalisierungsliteratur mit Erkenntnissen aus der Marketingliteratur verkn\u00fcpft. Dabei ist die Relevanz bestimmter Marketingaktivit\u00e4ten f\u00fcr multinationale Unternehmen hervorzuheben. Ferner k\u00f6nnen Managementimplikationen bez\u00fcglich der Kommunikation dieser Marketingaktivit\u00e4ten im Internationalisierungskontext gegeben werden.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-15\"><p><em>Keywords: Internationalisierung, Marketing, Shareholder Value,<br \/>\nStrategischer Trade-Off, Regressionsanalyse<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-8 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2018\/12\/MA_Severitt.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-16\"><p style=\"text-align: right;\"><a href=\"https:\/\/jums.academy\/n-severitt\/\">Zur Artikel-Seite<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-15 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-17\"><p><a name=\"A6\"><\/a><\/p>\n<h5 style=\"text-align: left;\"><strong>The influence of political regulations and market design on energy storage systems<\/strong><\/h5>\n<p>Maximilian Blaschke, Technical University of Munich (Master thesis)<br \/>\nJunior Management Science 3(4), 2018, 114-145<\/p>\n<\/div><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#e0dede;--awb-divider-hover-color:#e0dede;--awb-icon-color:#ffffff;--awb-title-color:#333333;--awb-content-color:#333333;--awb-icon-box-color:#333333;--awb-toggle-hover-accent-color:#447c4d;--awb-title-font-family:&quot;Roboto Slab&quot;;--awb-title-font-weight:300;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Roboto Slab&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34817-7\"><div class=\"fusion-panel panel-default panel-54eff607aa573ef64 fusion-toggle-no-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_54eff607aa573ef64\"><a aria-expanded=\"false\" aria-controls=\"54eff607aa573ef64\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34817-7\" data-target=\"#54eff607aa573ef64\" href=\"#54eff607aa573ef64\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Read abstract<\/span><\/a><\/h4><\/div><div id=\"54eff607aa573ef64\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_54eff607aa573ef64\"><div class=\"panel-body toggle-content fusion-clearfix\">This study examines the profitability of residential storage systems in combination with photovoltaic systems for varying political scenarios and under different market conditions. By comparing the energy flows of a photovoltaic rooftop facility to an average German household\u2019s consumption pattern, this thesis calculates the additional self-consumption that can be achieved through a battery storage system and values the resulting savings via a net present value approach. The simulations of this study identify boundaries for specific political regulations and market environments that can enable battery storage systems to be operated in a profitably way. Based on the assumptions of this thesis, current market conditions do not allow battery storage installations to generate positive returns on investment. Nevertheless, there could be lucrative opportunities in battery storage systems for future electricity price movements and sinking system costs.<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-text fusion-text-18\"><p><em>Keywords: Battery storage, Solar photovoltaic power, Distributed electricity,<br \/>\nEnergy policy, Market regulation<\/em><\/p>\n<\/div><div class=\"fusion-alignright\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-9 fusion-button-default-span fusion-button-default-type\" style=\"--button_accent_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#96c346;--button_gradient_top_color:#447c4d;--button_gradient_bottom_color:#447c4d;--button_gradient_top_color_hover:#96c346;--button_gradient_bottom_color_hover:#96c346;\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/jums.academy\/wp-content\/uploads\/2018\/12\/MA_Blaschke.pdf\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Read article<\/span><\/a><\/div><div class=\"fusion-text fusion-text-19\"><p style=\"text-align: right;\"><a href=\"https:\/\/jums.academy\/en\/m-blaschke\/\">Go to article page<\/a><\/p>\n<\/div><div style=\"width: 2px; height: 20px;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-34817","page","type-page","status-publish","hentry"],"jetpack_shortlink":"https:\/\/wp.me\/P7lBbr-93z","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/34817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/comments?post=34817"}],"version-history":[{"count":18,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/34817\/revisions"}],"predecessor-version":[{"id":49355,"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/pages\/34817\/revisions\/49355"}],"wp:attachment":[{"href":"https:\/\/jums.academy\/en\/wp-json\/wp\/v2\/media?parent=34817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}