v9i4 – Junior Management Science

Women in Leadership Positions and Firm Innovation: Are There Differences Between Countries?

Sara Luisa Nussbaum, Universität Augsburg (Bachelorarbeit)
Junior Management Science 9(4), 2024, 1901-1916

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The presence of women on corporate boards has attracted significant attention in recent years due to ongoing political discourse concerning initiatives such as gender quotas in managerial and boardroom positions. But how does the proportion of women on corporate boards influence firm innovation? This paper examines this question with reference to the direct and indirect effects of female supervisory board representation. The paper draws on a sample of 60 French firms and is framed in upper echelons theory. In analyzing the proportion of women directors, the paper aims to understand better the relationship between firm innovation and board seats occupied by women. The results suggest that firm innovation is not related to female board representation, which contrasts with empirical evidence that has found a positive relationship for 105 German firms. This deviation from established findings highlights the complexity inherent in understanding the impact of gender diversity on firm-level outcomes and underscores the need for context-specific examinations in this domain.

Keywords: corporate boards; female representation; firm innovation; gender diversity; strategic leadership.

DOI: https://www.doi.org/10.5282/jums/v9i4pp1901-1916

Spitzeder, Schmider, Marsalek: Welche Rolle spielt der Faktor Mensch in Bilanzskandalen?

Julian Friedrich Joswowitz, Heinrich-Heine-Universität Düsseldorf (Bachelorarbeit)
Junior Management Science 9(4), 2024, 1917-1933

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Der Faktor Mensch – eine Einflussgröße, die bei der Analyse von Bilanzbetrugsfällen schwer zu quantifizieren ist. Trotz zahlreicher Untersuchungen über Bilanzskandale, mangelt es bislang an systematischen Vergleichen verschiedener Fälle bezüglich des Einflusses persönlichen Verhaltens auf Entstehung, Prävention und Aufarbeitung von Bilanzskandalen. Es ist das Ziel dieser Arbeit, anhand der Fälle von Wirecard (2020), Flowtex (1999) und der Dachauer Bank (1872) zu erforschen, inwiefern der Faktor Mensch dem Erfolg der Betrugssysteme zuträglich war. Nach einer literaturbasierten Aufarbeitung der drei vorliegenden Fälle, werden die handelnden Akteure Jan Marsalek, Manfred Schmider und Adele Spitzeder mithilfe des soziologischen Modells des Fraud Diamonds analysiert. Daraus werden abschließend Herangehensweisen für den Umgang mit Betrugssystemen abgeleitet. Zentrale Erkenntnis ist, dass der Faktor Mensch nicht nur bei der Betrachtung der Täter hinsichtlich der Motivation, Rechtfertigung und Fähigkeit zum Betrug relevant ist, sondern auch bei der Betrachtung anderer Akteure von Bedeutung ist. Zudem ist der Faktor Mensch die Grundlage dafür, dass aus einem Betrugsfall ein Skandal wird.

Keywords: fraud diamond; fraud schemes; human factor; Wirecard.

DOI: https://www.doi.org/10.5282/jums/v9i4pp1917-1933

The Impact of Prospectus Language on IPO Underpricing: A Textual Analysis of European IPOs

Nicolas von Bodman, Technische Universität München (Masterarbeit)
Junior Management Science 9(4), 2024, 1934-1963

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This study explores the impact of IPO prospectus language on the prevalent underpricing in European IPOs, using natural language processing techniques. Specifically, it investigates whether a relationship exists between litigious, negative, positive, and uncertain language, as well as the degree of document similarity and IPO underpricing. For this purpose, qualitative text data is converted into quantifiable metrics using modern analysis techniques. The study presents new methodological approaches to textual analysis. The results establish a clear relationship between underpricing and multiple dimensions of prospectus language and highlights unique features of European markets. These include specific disclosure obligations of various market segments and the different listing types available to issuing firms. The results of the variables related to sentiment analysis all reveal significant relationships. However, no robust evidence emerges for variables related to document similarity. Overall, the introduced methodological approaches offer enhanced explanatory power over traditional methods, effectively contributing to the explanation of the underpricing phenomenon in European markets.

Keywords: IPO; NLP; prospectus language; textual analysis; underpricing.

DOI: https://www.doi.org/10.5282/jums/v9i4pp1934-1963

Impact of the European Carbon Border Adjustment Mechanism (CBAM) on the German Industry

Juan Diego Martinez, Technische Universität München (Masterarbeit)
Junior Management Science 9(4), 2024, 1964-1993

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The European Commission’s proposal for a Carbon Border Adjustment Mechanism (CBAM) aims to address carbon emissions in imports to the EU. This thesis researches the financial implications for exporting countries due to CBAM’s implementation, focusing on how it may alter production costs, demand dynamics, and global trading relationships. Using a quantitative research approach, the study analyzes existing carbon market landscapes and Germany’s trade ties with non-European exporters in key sectors like iron, steel, aluminum, polymers and chemicals. It evaluates CBAM guidelines and assesses potential weaknesses in determining embodied CO2 emissions. Results suggest CBAM may not drastically shift production costs or demand patterns immediately. China, with inherent cost advantages, may maintain competitiveness, while India’s advantages could diminish by 2035. However, uncertainties persist on CBAM’s long-term impact on global trade dynamics. The analysis highlights CBAM’s uneven financial burden across exporters, influenced by energy structures and production technologies. Weaknesses in CBAM’s calculation methods are highlighted, recommending standardized guidelines to ensure accurate emissions reporting. This study prompts policymakers to evaluate CBAM’s effectiveness in meeting climate goals while maintaining global trade equity.

Keywords: CBAM; carbon pricing; corporate ESG; decarbonization; European Carbon Border Adjustment Mechanism.

DOI: https://www.doi.org/10.5282/jums/v9i4pp1964-1993

Reusable Packaging Systems for Restaurants and Delivery Services: A Study of Consumer Preferences and Adoption Barriers to Promote Public Acceptance in Germany

Mareike Polle, Kühne Logistics University – The KLU (Masterarbeit)
Junior Management Science 9(4), 2024, 1994-2023

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Germany, the EU’s top plastic waste contributor, sees rising demand for single-use packaging, especially in coffee-to-go, takeaway, and food delivery. To promote a sustainable circular economy, Germany amended its packaging law in 2023, mandating gastronomic businesses to offer reusable packaging alternatives. However, consumer acceptance of reusable packaging systems (RPSs), crucial for success, is relatively unexplored. This study examines drivers and barriers to RPS adoption in Germany, offering recommendations for improvement. It includes a literature review, market research, and a representative online survey of 405 participants. A binary logistic regression model identified key adoption factors. Sustainability-focused intrinsic motivations were found to drive acceptance, while time and effort to return packaging pose significant barriers. Overall, the findings emphasize the importance of prioritizing both sustainability and convenience in the design of RPSs to promote consumer adoption. These insights can guide gastronomic businesses, pool system providers, and policymakers to improve RPS design and implementation, fostering public acceptance and adoption in Germany.

Keywords: circular economy; consumer acceptance; gastronomic industry; reusable packaging system (RPS); sustainability.

DOI: https://www.doi.org/10.5282/jums/v9i4pp1994-2023

Road to a Bioeconomy in the European Union: Mapping Drivers of Precision Fermentation Adoption

Niklas Thomas Starz, WHU – Otto Beisheim School of Management (Bachelorarbeit)
Junior Management Science 9(4), 2024, 2024-20249

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The escalating crisis of climate change, biodiversity loss, and pollution necessitates urgent shifts in production and consumption patterns towards enhanced environmental efficiency (EE). Western governments, including the European Union (EU), advocate transitioning to a bioeconomy based on renewable resources and free from fossil fuels. A pivotal technology in this shift is precision fermentation (PF), which employs synthetic biology to transform microbes into ‚cell factories‘ capable of producing diverse goods from renewable feedstocks. Despite its introduction in 1982, PF’s impact on EU production processes has been limited. This paper, drawing on Geel’s (2002) concept of technology transformations as sociotechnical phenomena, explores the drivers and barriers to PF adoption through interviews with eight biomanufacturing ecosystem experts. Findings reveal a dynamic niche propelled by advances in synthetic biology, environmental pressures, and global supply chain disruptions. However, substantial internal barriers at both niche and system levels hinder transformative progress, underlining critical areas for EU policy intervention. This paper provides strategic insights for policymakers, established companies, and entrepreneurs aiming to navigate the transition to a bioeconomy.

Keywords: biomanufacturing; EU bioeconomy strategy; multi-level perspective; precision fermentation.

DOI: https://www.doi.org/10.5282/jums/v9i4pp2024-2049

In the Eye of the Beholder: Examining the Role of Dynamic Capabilities, Industry Dynamics, and Internal Knowledge Sharing in Strategists‘ Entry Decisions

Elisa Schulte genannt Kulkmann, Technische Universität München (Masterarbeit)
Junior Management Science 9(4), 2024, 2050-2081

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Dynamic capabilities are a major driver of strategic entry into new industries. Building on the dynamic capabilities approach and on strategy literature, I develop a model for strategists’ assessment of entry. I examine two specific dynamic capabilities, namely absorptive capacity and new product development capability and argue that both positively influence strategists’ perceived attractiveness of entering a new industry. Further, I aim to respond to the call to consider the moderating effects of both external and internal conditions, by integrating environmental dynamism and internal knowledge sharing as moderators in my model. I test my hypotheses via a conjoint experiment and data on 1,664 entry assessments embedded within 52 strategists. As expected, I find that both high levels of perceived absorptive capacity and new product development capability increase entry attractiveness. Moreover, those effects are particularly strong when the environmental dynamism in the new industry is expected to be low. Internal knowledge sharing strengthens the relationship between perceived new product development and entry attractiveness. Regarding perceived absorptive capacity, I do not find significant interactions.

Keywords: absorptive capacity; dynamic capabilities; entry assessment; new product development; strategic entry.

DOI: https://www.doi.org/10.5282/jums/v9i4pp2050-2081

Entwicklung eines Prozessmodells für missionsorientiertes Corporate Rebranding

Saskia Hahn, Hochschule für Musik und Theater Hamburg (Masterarbeit)
Junior Management Science 9(4), 2024, 2082-2117

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Big Data, KI, Geofencing – während die Privatwirtschaft über moderne Ansätze grübelt, um ihre Marken noch einflussreicher zu machen, nähert sich der dritte Sektor der Vorstellung von Branding vorsichtig an. Organisationen müssen sich mit ihrer Unternehmensmarke auseinandersetzen, um Einfluss auf ihre Kohäsion, die Glaubwürdigkeit und Wahrnehmung ihres sozialen Auftrags zu nehmen – kurz gesagt: um wettbewerbsfähig zu bleiben. Es mangelt jedoch an geeigneten Marketinglehren. Bisherige Untersuchungen stützen sich auf selbst-legitimierende Logiken ohne wissenschaftliche Grundlage oder liefern Erklärungen für einzelne Faktoren und Zusammenhänge, nicht aber eine ganzheitliche Corporate Rebranding Strategie. Auch kann es keine Lösung sein, die Modelle der Privatwirtschaft dem dritten Sektor überzustülpen – zu unterschiedlich sind die Anforderungen und Eigenschaften der Organisationen. Aus diesem Grund wird in dem vorliegenden Literatur Review zunächst ein Prinzipienkatalog für missionsorientiertes Corporate Rebranding abgeleitet und anschließend im Abgleich mit früheren Forschungsarbeiten in ein dediziertes Prozessmodell – bestehend aus fünf Phasen und 25 Schritten – übersetzt. Das Modell wird anhand einer lokalen afrikanischen Nonprofit-Organisation erläutert. Die Ergebnisse dieser Arbeit verdeutlichen, dass missionsorientiertes Corporate Rebranding zwar eine hohe Komplexität birgt, aber auch von Praktiker:innen ohne großen Kapitaleinsatz gemeistert werden kann. Das praxistaugliche Prozessmodell könnte selbst einer Anwendung in profitorientierten Unternehmen standhalten und auch hier zu mehr Partizipation, Motivation und Kommunikation führen.

Keywords: corporate rebranding; mission-driven organization; model; nonprofit organization; social entrepreneurship.

DOI: https://www.doi.org/10.5282/jums/v9i4pp2082-2117

A Cost-Effective Future for Electricity Storage – An Examination of LCOS Studies on Stationary Applications

Jakob Phillip Klar, Technische Universität München (Bachelorarbeit)
Junior Management Science 9(4), 2024, 2118-2139

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As the global energy transition gains momentum and the demand for electrical energy storage rises, decision-makers face the challenge to select the most suitable storage technology. This thesis presents a comprehensive techno-economic analysis of electrical energy storage technologies for stationary applications, focusing on the levelized cost of storage (LCOS) as a key metric for evaluating economic viability. Through a systematic review of several LCOS studies, the most cost-effective storage technologies were identified for various use cases. While the results show significant heterogeneity across studies, the findings still indicate that lithium-ion batteries and pumped hydro storage are generally the most viable and cost-effective technologies. However, unique considerations are observed for specific applications, such as flywheels for primary response. Future projections reveal that lithium-ion is most likely to dominate all applications except for seasonal storage, where hydrogen energy storage is expected to induce the lowest LCOS. The following pages provide valuable insights for decision-makers, policymakers, and industry stakeholders in selecting suitable and economically viable storage solutions. This thesis highlights the significance of storage technologies in supporting the global energy transition and emphasizes the importance of investment and rapid deployment to drive progress and achieve a sustainable energy future.

Keywords: cost-effectiveness; energy storage; energy transition; levelized cost of storage (LCOS); storage technologies.

DOI: https://www.doi.org/10.5282/jums/v9i4pp2118-2139