Junior Management Science, Volume 7, Issue 2, June 2022

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The Impact of COVID-19 Policy Measures on European Companies – Empirical Evidence from Belgium, The Netherlands, Denmark and Norway

Heiko Hoppe, Technische Universität München (Bachelorarbeit)
Junior Management Science 7(2), 2021, 267-288

This study investigates the economic consequences of COVID-19 policy measures in Belgium, The Netherlands, Denmark and Norway. Using panel data analysis, I examine the effects of various government interventions such as lockdowns or economic support measures on risk-adjusted stock returns of companies in these countries. The findings show that both lockdown-related measures and economic support measures have a positive influence on stock returns. This positive influence is robust against competing effects such as the financial situation of companies and the pandemic itself. This study further finds that the positive influence of policy measures is consistent for companies belonging to sectors that are severely or positively affected by the pandemic. Thereby, this study contributes to the understanding of how COVID-19 policy measures affect companies and closes a research gap by considering these effects in northern European countries. It shows that lockdown-related restrictions have a positive economic impact by hindering the spread of the disease and that economic support measures ease the burden of the pandemic and are thus beneficial.

Keywords: COVID-19; government interventions; financial markets; stock returns; Northern Europe.

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The Mission Comes First: Exploring the Mechanisms of Organizational Sponsorship for the Acceleration of Social Start-Ups

Niklas Manhart, Technische Universität München (Masterarbeit)

Junior Management Science 7(2), 2022, 289-337

A significant number of incubators and accelerators have emerged to support start-ups aiming to solve societal or environmental problems. However, there is still limited understanding of how these ventures perceive the value proposition of incubators and accelerators – and whether their support needs differ from conventional start-ups. This study uses the framework of organizational sponsorship to explore the acceleration of social start-ups. It is based on in-depth interviews with the founders of 10 start-ups from an impact-oriented incubator in Duisburg, Germany. Through an inductive case study, this research generates three main insights. First, the social-mission focus of these ventures leads to significant differences as compared to commercial ventures. Second, social start-ups profit more from intangible resources such as social capital than from tangible resources such as seed funding. Third, incubators and accelerators need to adapt their offerings to address the needs of social start-ups. This study presents the first systematic assessment of incubator and accelerator services from the perspective of social start-ups. Its main theoretical contribution is to extend the organizational sponsorship framework by proposing a novel support mechanism: impact acceleration.

Keywords: Business incubation; start- up accelerators; social entrepreneurship; social start-ups; organizational sponsorship.

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Survival Analysis: Eine Untersuchung von Covid-19 Patientendaten

Akira Karimkhani, Freie Universität Berlin (Bachelorarbeit)
Junior Management Science 7(2), 2022, 338-353

Keywords: Covid-19; Cox-Regression; CPH-Model; Proportional Hazards Model; Survival Analysis.

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Unraveling the Process of Knowledge Integration in Agile Product Development Teams

Julia Haselsteiner, Johannes Kepler Universität Linz (Masterarbeit)
Junior Management Science 7(2), 2022, 354-389

Agile product development seems to be the solution for many companies to drive innovation and shorten time-to-market, but what mechanisms lie behind the promises of faster development times and more innovative products? Defined as locus of innovation and driver of dynamic performance, the concept of cross-functional knowledge integration and the organizational learning literature have the potential to provide answers here. Recent empirical studies imply that knowledge integration happens on multiple levels that influence each other, and that environmental uncertainty leads to changes in the knowledge integration process. However, the interplay of individual-level and group-level knowledge integration has not yet received adequate attention and prior studies do not show how knowledge integration changes over shorter periods of time. This paper takes a grounded theory approach to explore the knowledge integrating mechanisms in two agile product development teams. The resulting iterative process model shows how agile teams integrate diverse contributions of individual team members into a new product, how internal and external factors trigger alterations in knowledge integration practices, and how agile teams adapt to changes in coordination and collaboration demands.

Keywords: Agile product development; knowledge integration; cross-functional teams; organizational learning.

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Personality as a Determinant of Customer Experience Quality and Value-in-Use in a Public Crisis Situation – The Case of E-Learning

Katharina Lohmann, Freie Universität Berlin (Masterarbeit)
Junior Management Science 7(2), 2022, 390-411

This thesis was designed to investigate whether differences exist between students’ personalities regarding their perceived Customer Experience Quality and their perceived Value-in-Use, for the case of e-learning. In particular, the personality dimension Introversion-Extraversion was investigated. Furthermore, it was examined whether students’ Fear of the Coronavirus Disease 2019 moderates the relationship between Introversion-Extraversion and the perceived Customer Experience Quality as well as the relationship between Introversion-Extraversion and the perceived Value-in-Use. Using survey data on asynchronous e-learning as well as survey data on synchronous e-learning, multiple two-way ANOVAs were conducted. It was found that no significant differences for either asynchronous e-learning or synchronous e-learning regarding the Customer Experience Quality and the Value-in-Use exist between introverted and extraverted students. Furthermore, no significant interaction effect on the perceived Customer Experience Quality and Value-in-Use was found for introverted and extraverted students with either low or high Fear of the Coronavirus Disease 2019.

Keywords: COVID-19; e-learning; introversion-extraversion; customer experience quality; value-in-use; two-way ANOVA.

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Von Wuhan in die Bilanz: Die Bildung von Rückstellungen aufgrund von Covid-19 nach HGB und IFRS

Lars Busch, Heinrich-Heine-Universität Düsseldorf (Bachelorarbeit)
Junior Management Science 7(2), 2022, Heinrich-Heine-Universität Düsseldorf

Die Corona-Pandemie hat seit Anfang des Jahres 2020 große Auswirkungen auf das gesellschaftliche Leben der Menschen auf der ganzen Welt und führt damit auch zu einer erhöhten wirtschaftlichen Unsicherheit. Diese Unsicherheit wirkt sich wiederum auf die Rechnungslegung der Unternehmen aus. Die folgende Arbeit liefert einen Überblick über die vielseitigen Auswirkungen von Covid-19 auf die Rückstellungen eines Unternehmens, welche einen bedeutenden Bilanzposten darstellen. Als wesentlich betroffene Rückstellungen werden Drohverlustrückstellungen, Restrukturierungsrückstellungen, Garantie- und Kulanzrückstellungen sowie Pensionsrückstellungen identifiziert. Diese werden hinsichtlich Ansatz und Bewertung nach HGB und IFRS näher erläutert. Durch entsprechende Praxisbeispiele werden die Covid-19-bedingten Auswirkungen, welche sowohl positiv als auch negativ sein können, verdeutlicht. Außerdem erfolgt eine kurze Vorstellung weiterer Rückstellungsarten, welche durch Covid-19 beeinflusst werden können. Diese Arbeit macht deutlich, dass die Pandemie als Krise die Bilanzen zahlreicher Unternehmen auch in den kommenden Jahren beeinflussen wird.

Keywords: Corona; Covid-19; HGB; IFRS; Rückstellungen.

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Carbon Risk in European Equity Returns

Fabian Alexander Meyer, Universität Wien (Masterarbeit)
Junior Management Science 7(2), 2022, 429-454

Investors perceive climate change and the volatility of asset prices caused by the ongoing low carbon transition of the economy, so-called carbon risk, to have an impact on their portfolio performance. However, the extent of carbon risk’s impact on asset prices is still largely unknown. This paper provides a comprehensive quantification of carbon risk in European equity prices and examines whether it constitutes a systematic risk factor. I construct a carbon risk factor to determine the unique share of return attributable to differences in carbon intensity. During the sample period less (more) carbon intensive firms offer higher (lower) returns, which leads to a significant positive return of the carbon risk factor. Moreover, the carbon factor is significantly related to the sample covariance matrix of returns and offers a carbon risk premium in the cross-section of returns. In combination with the enhanced explanatory power relative to standard asset pricing models, this indicates that carbon risk constitutes a systematic risk factor. Consequently, investors can estimate carbon risk exposures based on widely available stock returns and include stocks without explicit carbon emission information in their risk management and investment process.

Keywords: Carbon risk; carbon risk factor; factor model; asset pricing.

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Konzeptionierung des Value-in-Use von Dienstleistungen für Forschende

Theresa Kroschewski, Technische Universität Braunschweig (Masterarbeit)
Junior Management Science 7(2), 2022, 455-503

Im Forschungsbereich der wert- und kundenzentrierten Dienstleistungsgestaltung werden Bedürfnisse von Kund:innen in marktfähige Angebote überführt. Dabei trifft die Fokussierung auf individuell am Menschen und dessen Werte ausgerichtete Dienstleistungen auf hohe Nachfrage und schafft Anbietenden einen Vorteil im unternehmerischen Wettbewerb. Auch außerhalb des Marktes, im Praxisgebiet der Forschung, zeichnet sich seit einigen Jahren ein steigender Bedarf an individueller und kollaborativer Unterstützung ab. Wie Angebote für forschungsnahe Dienstleistungen von marktlichen Ansätzen profitieren können, ist bislang wenig untersucht. Die vorliegende Arbeit widmet sich ebendieser Betrachtung und zieht den in der Service-dominierten Logik beschriebenen „Value-in-Use“ als Gestaltungsgrundlage heran. Über ein theoretisches Modell, das Zieldimensionen und aktivierte Arbeitsressourcen als Konzeptionierungsebenen in den beruflichen Kontext von Forschenden überführt, wird in einer empirischen Untersuchung die subjektive Wertwahrnehmung aus 14 Dienstleistungserfahrungen untersucht. Die hierbei entstandenen Ergebnisse bauen ein tiefgreifendes Verständnis dafür auf, wie und auf welchen Ebenen ein individueller Wert für Forschende bei der Inanspruchnahme von Dienstleistungen geschaffen werden kann.

Keywords: Value-in-Use; forschungsnahe Dienstleistungen; Service-dominierte Logik.

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Zur Rolle interorganisationaler Beziehungen im Social Entrepreneurship – Ein systematisches Literaturreview

Sophie Gröbner, Freie Universität Berlin (Bachelorarbeit)
Junior Management Science 7(2), 2022, 504-523

A social enterprise is a company founded by a social entrepreneur following a social purpose. Inter-organizational relations of social enterprises are an important topic in research on social entrepreneurship. The aim of this paper is to provide an overview regarding these relations in the context of a literature review. The findings are seperated into the following three cooperation phases: initiation, process and outcomes of social enterprises‘ inter-organizational relations. Furthermore, insights about the functions of network management are collected. The findings show that the most articles focus on the cooperation process and strategic networks are examined most often. In addition, it could be observed that cooperative alliances with other organizations play an important part in social entrepreneurial practice. Inter-organizational relations of social enterpises represent a promising topic for future research. Research about aspects concerning the initiation phase and the outcomes of these relations is especially required. The functions of network management need to be further examined in this research context as well.

Keywords: Social Entrepreneurship; Social Enterprise; Interorganisationale Beziehungen; Netzwerke; Netzwerkmanagement.

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Investigating Market Behavior Correlations between Classified Tokens using the International Token Classification Framework

Felix van Walbeek, Technische Universität München (Bachelorarbeit)
Junior Management Science 7(2), 2022, 524-542

A social enterprise is a company founded by a social entrepreneur following a social purpose. Inter-organizational relations of social enterprises are an important topic in research on social entrepreneurship. The aim of this paper is to provide an overview regarding these relations in the context of a literature review. The findings are seperated into the following three cooperation phases: initiation, process and outcomes of social enterprises‘ inter-organizational relations. Furthermore, insights about the functions of network management are collected. The findings show that the most articles focus on the cooperation process and strategic networks are examined most often. In addition, it could be observed that cooperative alliances with other organizations play an important part in social entrepreneurial practice. Inter-organizational relations of social enterpises represent a promising topic for future research. Research about aspects concerning the initiation phase and the outcomes of these relations is especially required. The functions of network management need to be further examined in this research context as well.

Keywords: Blockchain; token; correlation; classification; Bitcoin.

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