TY - GEN A1 - Hölzle, Katharina A1 - Boer, Harry A1 - Björk, Jennie T1 - Crisis management through creativity and innovation BT - storytelling, moral organizational creativity, and open innovation as creative means to spark innovation T2 - Creativity and innovation management Y1 - 2020 U6 - https://doi.org/10.1111/caim.12385 SN - 0963-1690 SN - 1467-8691 VL - 29 IS - 2 SP - 195 EP - 197 PB - Wiley-Blackwell CY - Oxford [u.a.] ER - TY - GEN A1 - de Haas, Samuel A1 - Paha, Johannes T1 - Non-controlling minority shareholdings and collusion T2 - Zweitveröffentlichungen der Universität Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe N2 - This article merges theoretical literature on non-controlling minority shareholdings (NCMS) in a coherent model to study the effects of NCMS on competition and collusion. The model encompasses both the case of a common owner holding shares of rival firms as well as the case of cross ownership among rivals. We find that by softening competition, NCMS weaken the sustainability of collusion under a greater variety of situations than was indicated by earlier literature. Such effects exist, in particular, in the presence of an effective competition authority. T3 - Zweitveröffentlichungen der Universität Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe - 166 KW - collusion KW - common ownership KW - cross ownership KW - minority shareholdings Y1 - 2020 U6 - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:kobv:517-opus4-595993 SN - 1867-5808 IS - 3 ER - TY - JOUR A1 - Kalkuhl, Matthias A1 - Steckel, Jan Christoph A1 - Edenhofer, Ottmar T1 - All or nothing BT - climate policy when assets can become stranded JF - Journal of environmental economics and management N2 - This paper develops a new perspective on stranded assets in climate policy using a partial equilibrium model of the energy sector. Political-economy related aspects are considered in the government's objective function. Lobbying power of firms or fiscal considerations by the government lead to time inconsistency: The government will deviate from a previously announced carbon tax which creates stranded assets. Under rational expectations, we show that a time-consistent policy outcome exists with either a zero carbon tax or a prohibitive carbon tax that leads to zero fossil investments - an "all-or-nothing" policy. Although stranded assets are crucial to such a bipolar outcome, they disappear again under time-consistent policy. Which of the two outcomes (all or nothing) prevails depends on the lobbying power of owners of fixed factors (land and fossil resources) but not on fiscal revenue considerations or on the lobbying power of renewable or fossil energy firms. KW - Climate policy KW - Optimal control KW - Political economy KW - Public finance KW - Credible policy KW - Time inconsistency Y1 - 2020 U6 - https://doi.org/10.1016/j.jeem.2019.01.012 SN - 0095-0696 SN - 1096-0449 VL - 100 PB - Elsevier CY - San Diego ER - TY - JOUR A1 - Sedova, Barbora A1 - Kalkuhl, Matthias A1 - Mendelsohn, Robert T1 - Distributional impacts of weather and climate in rural India JF - Economics of disasters and climate change N2 - Climate-related costs and benefits may not be evenly distributed across the population. We study distributional implications of seasonal weather and climate on within-country inequality in rural India. Utilizing a first difference approach, we find that the poor are more sensitive to weather variations than the non-poor. The poor respond more strongly to (seasonal) temperature changes: negatively in the (warm) spring season, more positively in the (cold) rabi season. Less precipitation is harmful to the poor in the monsoon kharif season and beneficial in the winter and spring seasons. We show that adverse weather aggravates inequality by reducing consumption of the poor farming households. Future global warming predicted under RCP8.5 is likely to exacerbate these effects, reducing consumption of poor farming households by one third until the year 2100. We also find inequality in consumption across seasons with higher consumption during the harvest and lower consumption during the sowing seasons. KW - climate change KW - weather KW - inequality KW - household analysis KW - India KW - econometrics Y1 - 2019 U6 - https://doi.org/10.1007/s41885-019-00051-1 SN - 2511-1280 SN - 2511-1299 VL - 4 IS - 1 SP - 5 EP - 44 PB - Springer CY - Cham ER - TY - JOUR A1 - Edenhofer, Ottmar A1 - Kalkuhl, Matthias A1 - Requate, Tilman A1 - Steckel, Jan Christoph T1 - How assets get stranded BT - the impact of climate policy on capital and fossil fuel owners : introduction to the JEEM special section on climate policy and political economy JF - Journal of environmental economics and management N2 - Internalizing external costs of carbon is a fundamental goal of climate policy. Since the seminal work of Arthur Pigou in 1920, economic theory has analyzed the efficiency gains arising from various instruments that internalize externalities and lead to Pareto-improvements. It is widely recognized in environmental economics that a carbon price would effectively reflect the scarcity of the atmospheric disposal space for carbon depending on the temperature target that is to be achieved. The question of how to organize the transition process, i.e. moving from inefficient to efficient allocations, and implementing the necessary policies, has gained increasing attention in recent years. Arguably, the transition process is tightly interwoven with political processes that include complex interactions between societal stakeholders, such as households and firms, on the one hand, and political decision makers, on the other. Accordingly, understanding political-economy aspects of the transition process, including distributional outcomes, is becoming increasingly relevant. While a growing literature discusses the distributional implications of climate policy on households, it is less well understood how asset owners might be affected by climate policy and how these potential impacts would interact with the transition process. This Special Section focuses on public policy challenges related to this transition problem, with special emphasis on asset owners. A core theme is the special role of stranded assets, i.e. a devaluation of capital stocks or financial assets either by introducing a stringent carbon price or by omitting a pre-announced policy of this kind. Y1 - 2020 U6 - https://doi.org/10.1016/j.jeem.2020.102300 SN - 0095-0696 SN - 1096-0449 VL - 100 PB - Elsevier CY - Amsterdam ER - TY - JOUR A1 - Kalkuhl, Matthias A1 - Wenz, Leonie T1 - The impact of climate conditions on economic production BT - evidence from a global panel of regions JF - Journal of Environmental Economics and Management N2 - We present a novel data set of subnational economic output, Gross Regional Product (GRP), for more than 1500 regions in 77 countries that allows us to empirically estimate historic climate impacts at different time scales. Employing annual panel models, long-difference regressions and cross-sectional regressions, we identify effects on productivity levels and productivity growth. We do not find evidence for permanent growth rate impacts but we find robust evidence that temperature affects productivity levels considerably. An increase in global mean surface temperature by about 3.5°C until the end of the century would reduce global output by 7–14% in 2100, with even higher damages in tropical and poor regions. Updating the DICE damage function with our estimates suggests that the social cost of carbon from temperature-induced productivity losses is on the order of 73–142$/tCO2 in 2020, rising to 92–181$/tCO2 in 2030. These numbers exclude non-market damages and damages from extreme weather events or sea-level rise. KW - climate change KW - climate damages KW - climate impacts KW - growth regression KW - global warming KW - panel regression KW - cross-sectional regression KW - damage KW - function KW - social costs of carbon Y1 - 2020 U6 - https://doi.org/10.1016/j.jeem.2020.102360 SN - 0095-0696 SN - 1096-0449 VL - 103 PB - Elsevier CY - San Diego ER - TY - JOUR A1 - Edenhofer, Ottmar A1 - Kalkuhl, Matthias A1 - Ockenfels, Axel T1 - Das Klimaschutzprogramm der Bundesregierung BT - eine Wende der deutschen Klimapolitik? JF - Perspektiven der Wirtschaftspolitik N2 - Das Klimaschutzgesetz hat einen Paradigmenwechsel eingeleitet: den Einstieg in eine CO2-Bepreisung als künftiges Leitinstrument der Klimapolitik. Auf den ersten Blick ist der CO2-Preis unter einer Fülle von Fördermaßnahmen und ordnungsrechtlichen Regelungen verschüttet, deren Wirksamkeit und Kosten höchst unsicher sind. Der CO2-Preis ist aber so angelegt, dass er langfristig das dominante Instrument einer europäisch harmonisierten Klimapolitik werden kann. Der angedeutete Paradigmenwechsel der deutschen Klimapolitik öffnet damit die Tür, die europäische und internationale Kooperation zu stärken. Dazu ist es aber notwendig, neben der europäischen auch die globale Klimapolitik neu auszurichten. Auch dort sollten sich die Verhandlungen statt auf nationale Mengenziele auf CO2-Preise konzentrieren. Die erforderliche Kooperation wird möglich, wenn die Regierungen Transferzahlungen strategisch und reziprok nutzen. So könnte die Effektivität der Klimapolitik erhöht werden und es ließen sich die entstehenden Verteilungskonflikte entschärfen. KW - Klimaschutzgesetz KW - CO2-Preis KW - Emissionshandel KW - internationale Kooperation KW - Klimawandel KW - Klimapolitik KW - Deutschland KW - EU Y1 - 2020 U6 - https://doi.org/10.1515/pwp-2020-0001 SN - 1465-6493 SN - 1468-2516 VL - 21 IS - 1 SP - 4 EP - 18 PB - De Gruyter CY - Berlin ER - TY - JOUR A1 - Ploner, Tina A1 - Hess, Steffen A1 - Grum, Marcus A1 - Drewe-Boss, Philipp A1 - Walker, Jochen T1 - Using gradient boosting with stability selection on health insurance claims data to identify disease trajectories in chronic obstructive pulmonary disease JF - Statistical methods in medical research N2 - Objective We propose a data-driven method to detect temporal patterns of disease progression in high-dimensional claims data based on gradient boosting with stability selection. Materials and methods We identified patients with chronic obstructive pulmonary disease in a German health insurance claims database with 6.5 million individuals and divided them into a group of patients with the highest disease severity and a group of control patients with lower severity. We then used gradient boosting with stability selection to determine variables correlating with a chronic obstructive pulmonary disease diagnosis of highest severity and subsequently model the temporal progression of the disease using the selected variables. Results We identified a network of 20 diagnoses (e.g. respiratory failure), medications (e.g. anticholinergic drugs) and procedures associated with a subsequent chronic obstructive pulmonary disease diagnosis of highest severity. Furthermore, the network successfully captured temporal patterns, such as disease progressions from lower to higher severity grades. Discussion The temporal trajectories identified by our data-driven approach are compatible with existing knowledge about chronic obstructive pulmonary disease showing that the method can reliably select relevant variables in a high-dimensional context. Conclusion We provide a generalizable approach for the automatic detection of disease trajectories in claims data. This could help to diagnose diseases early, identify unknown risk factors and optimize treatment plans. KW - Gradient boosting KW - stability selection KW - claims data KW - disease trajectory KW - chronic obstructive pulmonary disease Y1 - 2020 U6 - https://doi.org/10.1177/0962280220938088 SN - 0962-2802 SN - 1477-0334 VL - 29 IS - 12 SP - 3684 EP - 3694 PB - Sage Publ. CY - London [u.a.] ER - TY - JOUR A1 - Borck, Rainald A1 - Schrauth, Philipp T1 - Population density and urban air quality JF - Regional science and urban economics N2 - We use panel data from Germany to analyze the effect of population density on urban air pollution (nitrogen oxides, particulate matter, ozone, and an aggregate index for bad air quality [AQI]). To address unobserved heterogeneity and omitted variables, we present long difference/fixed effects estimates and instrumental variables estimates, using historical population and soil quality as instruments. Using our preferred estimates, we find that the concentration increases with density for NO2 with an elasticity of 0.25 and particulate matter with elasticity of 0.08. The O-3 concentration decreases with density with an elasticity of -0.14. The AQI increases with density, with an elasticity of 0.11-0.13. We also present a variety of robustness tests. Overall, the paper shows that higher population density worsens local air quality. KW - Population density KW - Air pollution Y1 - 2020 U6 - https://doi.org/10.1016/j.regsciurbeco.2020.103596 SN - 0166-0462 SN - 1879-2308 VL - 86 PB - Elsevier CY - Amsterdam ER - TY - JOUR A1 - Kalkuhl, Matthias A1 - Schwerhoff, Gregor A1 - Waha, Katharina T1 - Land tenure, climate and risk management JF - Ecological economics N2 - We analyze to what extent climate conditions affect the prevalence of sharecropping as a form of traditional land tenure. We investigate how sharecropping tenure is related to climate risk and how it interacts with fertilizer use and livestock ownership that both influence production risk. We first develop a stylized theoretical model to illustrate the role of climate for land tenure and production. Our empirical analysis is based on more than 9000 households with considerable heterogeneity in climate conditions across several African countries. We find that farmers in areas with low precipitation are more likely to be sharecroppers. We further find evidence for risk management interaction effects as sharecropping farmers are less likely to own livestock and more likely to use fertilizer. In economies where formal kinds of insurance are unavailable, sharecropping thus functions as a form of insurance and reduces the need for potentially costly risk management strategies. KW - traditional land tenure KW - climate KW - risk management KW - agriculture KW - Africa KW - sharecropping Y1 - 2020 U6 - https://doi.org/10.1016/j.ecolecon.2019.106573 SN - 0921-8009 SN - 1873-6106 VL - 171 PB - Elsevier Science CY - Amsterdam [u.a.] ER - TY - CHAP A1 - Köster, Antonia A1 - Baumann, Annika A1 - Krasnova, Hanna A1 - Avital, Michel A1 - Lyytinen, Kalle A1 - Rossi, Matti T1 - Panel 1: to share or not to share BT - should is researchers share or hoard their precious data? T2 - Proceedings of the 28th European Conference on Information Systems (ECIS): ECIS 2020 Panels N2 - Data sharing requires researchers to publish their (primary) data and any supporting research materials. With increased attention on reproducibility and more transparent research requiring sharing of data, the issues surrounding data sharing are moving beyond whether data sharing is beneficial, to what kind of research data should be shared and how. However, despite its benefits, data sharing still is not common practice in Information Systems (IS) research. The panel seeks to discuss the controversies related to data sharing in research, specifically focusing on the IS discipline. It remains unclear how the positive effects of data sharing that are often framed as extending beyond the individual researcher (e.g., openness for innovation) can be utilized while reducing the downsides often associated with negative consequences for the individual researcher (e.g., losing a competitive advantage). To foster data sharing practices in IS, the panel will address this dilemma by drawing on the panelists’ expertise. Y1 - 2020 UR - https://aisel.aisnet.org/ecis2020_panels/3 PB - AIS Electronic Library (AISeL) CY - [Erscheinungsort nicht ermittelbar] ER - TY - JOUR A1 - Kraus, Sascha A1 - Li, Hongbo A1 - Kang, Qi A1 - Westhead, Paul A1 - Tiberius, Victor T1 - The sharing economy BT - a bibliometric analysis of the state-of-the-art JF - International journal of entrepreneurial behavior & research N2 - Purpose Quantitative bibliometric approaches were used to statistically and objectively explore patterns in the sharing economy literature. Design/methodology/approach Journal (co-)citation analysis, author (co-)citation analysis, institution citation and co-operation analysis, keyword co-occurrence analysis, document (co-)citation analysis and burst detection analysis were conducted based on a bibliometric data set relating to sharing economy publications. Findings Sharing economy research is multi- and interdisciplinary. Journals focused upon products liability, organizing framework, profile characteristics, diverse economies, consumption system and everyday life themes. Authors focused upon profile characteristics, sharing economy organization, social connections, first principle and diverse economy themes. No institution dominated the research field. Keyword co-occurrence analysis identified organizing framework, tourism industry, consumer behavior, food waste, generous exchange and quality cue as research themes. Document co-citation analysis found research themes relating to the tourism industry, exploring public acceptability, agri-food system, commercial orientation, products liability and social connection. Most cited authors, institutions and documents are reported. Research limitations/implications The study did not exclusively focus on publications in top-tier journals. Future studies could run analyses relating to top-tier journals alone, and then run analyses relating to less renowned journals alone. To address the potential fuzzy results concern, reviews could focus on business and/or management research alone. Longitudinal reviews conducted over several points in time are warranted. Future reviews could combine qualitative and quantitative approaches. Originality/value We contribute by analyzing information relating to the population of all sharing economy articles. In addition, we contribute by employing several quantitative bibliometric approaches that enable the identification of trends relating to the themes and patterns in the growing literature. KW - bibliometric analysis KW - citations KW - co-citation analysis KW - co-occurrence KW - analysis KW - research themes KW - sharing economy Y1 - 2020 U6 - https://doi.org/10.1108/IJEBR-06-2020-0438 SN - 1355-2554 SN - 1758-6534 VL - 26 IS - 8 SP - 1769 EP - 1786 PB - Emerald Group Publishing Limited CY - Bingley ER - TY - JOUR A1 - Kraus, Sascha A1 - Traunmüller, Verena A1 - Kailer, Norbert A1 - Tiberius, Victor T1 - The dark triad in entrepreneurship research BT - a systematic literature review JF - Journal of enterprising culture : JEC N2 - The impact of traits in entrepreneurship has been subject to intense discussion. Apart from favorable traits fostering opportunity recognition, entrepreneurial orientation, venture performance, and other variables, a younger research stream also addresses the role of negative traits. Among them, the dark triad, comprising of narcissism, Machiavellianism, and psychopathy, have gained specific attention. This systematic literature review aims to structure the field, identify current research themes, and provide a better understanding of prior research outcomes. Our results show that dark triad research addresses entrepreneurial activity, opportunity recognition, entrepreneurial orientation, entrepreneurial leadership, the and entrepreneurial motives. Among the dark triad traits, narcissism is stressed most in research so far. It relates to firm performance, risk, and leadership behavior, whereas Machiavellianism and psychopathy relate to opportunity recognition and exploitation. We also identify several research gaps, which can be addressed in future research. KW - dark triad KW - entrepreneurship KW - psychology KW - traits Y1 - 2020 U6 - https://doi.org/10.1142/S0218495820500156 SN - 0218-4958 SN - 1793-6330 VL - 28 IS - 04 SP - 353 EP - 373 PB - World Scientific CY - Singapore ER - TY - CHAP A1 - Klaue, Katharina A1 - Oehlschläger, Patricia A1 - Zender, Raphael A1 - Siebert, Ernestine A1 - Lucke, Ulrike A1 - Herbst, Uta A1 - Hefner, Manuel ED - Gronau, Norbert ED - Heine, Moreen ED - Poustcchi, K. ED - Krasnova, Hanna T1 - Automatisierung im Verhandlungstraining durch den Einsatz intelligenter Dialogsysteme und Virtual Reality T2 - Entwicklungen, Chancen und Herausforderungen der Digitalisierung : Proceedings der 15. Internationalen Tagung Wirtschaftsinformatik, WI 2020, Potsdam, Germany, March 9-11, 2020 - Community Tracks N2 - Erfolgreiches Verhandeln stellt einen Schlüsselfaktor für Unternehmenserfolge dar. Es angemessen zu trainieren kann jedoch sowohl zeitaufwendig als auch kostenintensiv werden, erfordert es doch idealerweise wiederholte, persönliche Übungen mit professionellen Verhandlungsführern oder Agenten. Digitale Trainingswerkzeuge können zwar ebenfalls Trainingserfolge erzielen, bieten aber eine mangelnde Authentizität der Übungssituation und erschweren somit den Transfer des Gelernten in den Berufsalltag. Das in diesem Beitrag vorgestellte Verhandlungstraining setzt Virtual Reality (VR) als Technologie für realitätsnahe Simulation ein, um eine räumlich authentische Übungssituation zu schaffen. Weiterhin dient ein sprachlich interagierendes Dialogsystem als automatisierter, virtueller Verhandlungsagent. Dieser wurde mit Interaktionsdaten aus einer Verhandlungsstudie trainiert und bietet Trainingspersonen somit einen wirksamen Übungspartner für das VR-Verhandlungstraining. KW - Virtual Reality KW - Verhandlungstraining KW - Chatbot KW - Dialogsystem Y1 - 2020 SN - 978-3-95545-336-7 U6 - https://doi.org/10.30844/wi_2020_t3-klaue VL - 2 SP - 88 EP - 102 PB - GITO Verlag für Industrielle Informationstechnik und Organisation CY - Berlin ER - TY - JOUR A1 - de Haas, Samuel A1 - Paha, Johannes T1 - Non-controlling minority shareholdings and collusion JF - Review of industrial organization N2 - This article merges theoretical literature on non-controlling minority shareholdings (NCMS) in a coherent model to study the effects of NCMS on competition and collusion. The model encompasses both the case of a common owner holding shares of rival firms as well as the case of cross ownership among rivals. We find that by softening competition, NCMS weaken the sustainability of collusion under a greater variety of situations than was indicated by earlier literature. Such effects exist, in particular, in the presence of an effective competition authority. KW - collusion KW - common ownership KW - cross ownership KW - minority shareholdings Y1 - 2020 U6 - https://doi.org/10.1007/s11151-020-09758-y SN - 0889-938X SN - 1573-7160 VL - 58 IS - 3 SP - 431 EP - 454 PB - Springer CY - Dordrecht ER - TY - JOUR A1 - Schröder, Katharina A1 - Tiberius, Victor A1 - Bouncken, Ricarda B. A1 - Kraus, Sascha T1 - Strategic entrepreneurship BT - mapping a research field JF - International journal of entrepreneurial behavior & research N2 - Purpose: Strategic entrepreneurship (SE) depicts the nexus of strategic management and entrepreneurship, suggesting that firms can create superior wealth when simultaneously pursuing advantage-seeking and opportunity-seeking behavior. As the rapid growth in SE research led to a multidisciplinary, scattered and fragmented literature landscape, the authors aim to structure this research field. Design/methodology/approach: The authors employ a bibliographic coupling and literature review of the strategic entrepreneurship research field. Findings: The authors identify and describe five major research streams with 15 sub-themes in recent SE research. Based on our findings, the authors propose an integrated research framework and research gaps for future research. Originality/value: To the authors' knowledge, this is the first review on SE based on a bibliographic coupling. KW - bibliometric analysis KW - competitive advantage KW - opportunities KW - strategic KW - entrepreneurship Y1 - 2020 U6 - https://doi.org/10.1108/IJEBR-11-2020-0798 SN - 1355-2554 SN - 1758-6534 VL - 27 IS - 3 SP - 753 EP - 776 PB - Emerald Group Publishing Limited CY - Bingley ER - TY - GEN A1 - Otto, Christian A1 - Piontek, Franziska A1 - Kalkuhl, Matthias A1 - Frieler, Katja T1 - Event-based models to understand the scale of the impact of extremes T2 - Nature energy N2 - Climate change entails an intensification of extreme weather events that can potentially trigger socioeconomic and energy system disruptions. As we approach 1 degrees C of global warming we should start learning from historical extremes and explicitly incorporate such events in integrated climate-economy and energy systems models. KW - Climate-change impacts KW - Energy economics KW - Socioeconomic scenarios Y1 - 2020 U6 - https://doi.org/10.1038/s41560-020-0562-4 SN - 2058-7546 VL - 5 IS - 2 SP - 111 EP - 114 PB - Nature Publishing Group CY - London ER - TY - JOUR A1 - Fischer, Caroline A1 - Schott, Carina T1 - Why people enter and stay in public service careers BT - the role of parental socialization and an interest in politics JF - International review of administrative sciences : an international journal of comparative public administration N2 - This article examines the effect of parental socialization and interest in politics on entering and staying in public service careers. We incorporate two related explanations, yet commonly used in different fields of literature, to explain public sector choice. First, following social learning theory, we hypothesize that parents serve as role models and thereby affect their children's sector choice. Additionally, we test the hypothesis that parental socialization leads to a longer stay in public sector jobs while assuming that it serves as a buffer against turnover. Second, following public service motivation process theory, we expect that 'interest in politics' is influenced by parental socialization and that this concept, in turn, leads to a public sector career. A representative set of longitudinal data from the Swiss household panel (1999-2014) was used to analyse these hypotheses (n = 2,933, N = 37,328). The results indicate that parental socialization serves as a stronger predictor of public sector choice than an interest in politics. Furthermore, people with parents working in the public sector tend to stay longer in their public sector jobs. Points for practitioners For practitioners, the results of this study are relevant as they highlight the limited usefulness of addressing job applicants' interest in politics in the recruitment process. Human resources managers who want to ensure a public-service-motivated workforce are therefore advised to focus on human resources activities that stimulate public service motivation after job entry. We also advise close interaction between universities and public organizations so that students develop a realistic picture of the government as a future employer and do not experience a 'reality shock' after job entry. KW - human resources management KW - panel analysis KW - public sector choice KW - public KW - service motivation KW - socialization Y1 - 2020 U6 - https://doi.org/10.1177/0020852319886913 SN - 0020-8523 SN - 1461-7226 VL - 88 IS - 1 SP - 59 EP - 75 PB - Sage Publ. CY - London ER - TY - JOUR A1 - Covi, Giovanni A1 - Eydam, Ulrich T1 - End of the sovereign-bank doom loop in the European Union? BT - the Bank Recovery and Resolution Directive JF - Journal of evolutionary economics N2 - In this paper we examine the relationship between the default risk of banks and sovereigns, i.e. the 'doom-loop'. Specifically, we try to assess the effectiveness of the implementation of the new recovery and resolution framework in the European Union. We use a panel with daily data on European banks and sovereigns ranging from 2012 to 2016 in order to test the effects of the Bank Recovery and Resolution Directive on the two-way feedback process. We find that there was a pronounced feedback loop between banks and sovereigns from 2012 to 2014. However, after the implementation of the European Banking Union, in 2015/2016, the magnitude of the doom-loop decreased and the spillovers became not statistically significant. Furthermore, our results suggest that the implementation of the new resolution framework is a suitable candidate to explain this finding. Overall, the results are robust across several specifications. KW - financial stability KW - sovereign bail-out KW - bail-in tool KW - doom loop KW - European Banking Union KW - Bank Recovery and Resolution Directive Y1 - 2020 U6 - https://doi.org/10.1007/s00191-018-0576-2 SN - 0936-9937 SN - 1432-1386 VL - 30 IS - 1 SP - 5 EP - 30 PB - Springer CY - Berlin ; Heidelberg ; New York ER - TY - JOUR A1 - Dragičević, Nikolina A1 - Ullrich, André A1 - Tsui, Eric A1 - Gronau, Norbert T1 - A conceptual model of knowledge dynamics in the industry 4.0 smart grid scenario JF - Knowledge management research & practice : KMRP N2 - Technological advancements are giving rise to the fourth industrial revolution - Industry 4.0 -characterized by the mass employment of smart objects in highly reconfigurable and thoroughly connected industrialproduct-service systems. The purpose of this paper is to propose a theory-based knowledgedynamics model in the smart grid scenario that would provide a holistic view on the knowledge-based interactions among smart objects, humans, and other actors as an underlyingmechanism of value co-creation in Industry 4.0. A multi-loop and three-layer - physical, virtual, and interface - model of knowledge dynamics is developedby building on the concept of ba - an enabling space for interactions and theemergence of knowledge. The model depicts how big data analytics are just one component inunlocking the value of big data, whereas the tacit engagement of humans-in-the-loop - theirsense-making and decision-making - is needed for insights to be evoked fromanalytics reports and customer needs to be met. KW - Industry 4.0 KW - tacit knowledge KW - humans-in-the-loop KW - big data analytics KW - internet of things and services KW - smart grid Y1 - 2020 U6 - https://doi.org/10.1080/14778238.2019.1633893 SN - 1477-8238 SN - 1477-8246 VL - 18 IS - 2 SP - 199 EP - 213 PB - Taylor & Francis CY - London [u.a.] ER -