TY - JOUR A1 - Schosser, Josef A1 - Ströbele, Heiko T1 - What is the value of Facebook? BT - Evidence from the Schwartz/Moon model JF - Journal of risk finance N2 - On May 17, 2012, the social networking company Facebook Inc. fixes its initial public offering (IPO) price at $38.00 a share. Over the next couple of months, contrary to expectations raised by previous IPOs, the stock price crashes more than 50 per cent. Immediately, the question arises whether the issuer’s or the stock market’s pricing of the share are in line with the firm’s fundamentals. Thus, the purpose of this paper is to determine the company value in close proximity to the date of IPO. KW - Facebook KW - Firm valuation KW - Growth company KW - Initial public offering KW - Real options KW - Schwartz KW - Moon model KW - G32 Y1 - 2019 U6 - https://doi.org/10.1108/JRF-05-2018-0069 SN - 1526-5943 SN - 2331-2947 VL - 20 IS - 3 SP - 267 EP - 290 PB - Emerald Group Publishing Limited CY - Bingley ER - TY - JOUR A1 - Ziesemer, Florence A1 - Hüttel, Alexandra A1 - Balderjahn, Ingo T1 - Anti-Consumption JF - Sustainability N2 - Transcending the conventional debate around efficiency in sustainable consumption, anti-consumption patterns leading to decreased levels of material consumption have been gaining importance. Change agents are crucial for the promotion of such patterns, so there may be lessons for governance interventions that can be learnt from the every-day experiences of those who actively implement and promote sustainability in the field of anti-consumption. Eighteen social innovation pioneers, who engage in and diffuse practices of voluntary simplicity and collaborative consumption as sustainable options of anti-consumption share their knowledge and personal insights in expert interviews for this research. Our qualitative content analysis reveals drivers, barriers, and governance strategies to strengthen anti-consumption patterns, which are negotiated between the market, the state, and civil society. Recommendations derived from the interviews concern entrepreneurship, municipal infrastructures in support of local grassroots projects, regulative policy measures, more positive communication to strengthen the visibility of initiatives and emphasize individual benefits, establishing a sense of community, anti-consumer activism, and education. We argue for complementary action between top-down strategies, bottom-up initiatives, corporate activities, and consumer behavior. The results are valuable to researchers, activists, marketers, and policymakers who seek to enhance their understanding of materially reduced consumption patterns based on the real-life experiences of active pioneers in the field. KW - social innovation KW - sufficiency KW - collaborative consumption KW - expert interview KW - consumer behavior KW - sustainability KW - innovation policy KW - governance for sustainable development KW - consumer education Y1 - 2019 U6 - https://doi.org/10.3390/su11236663 SN - 2071-1050 VL - 11 IS - 23 PB - MDPI CY - Basel ER - TY - JOUR A1 - Hölzle, Katharina A1 - Rhinow, Holger T1 - The Dilemmas of Design Thinking in Innovation Projects JF - Project Management Journal N2 - Organizations have discovered Design Thinking as a promising framework or language for innovation-focused project teamwork. The goal is to develop new products and services by being customer-centric and working iteratively and in an interdisciplinary way, using specific working principles and methods to create a common language among all stakeholders. The empirical results in this article show that Design Thinking teamwork is different from other forms of teamwork. The difference in Design Thinking team-based project work is that the teams go through a specific learning process that poses individual challenges but also provides the individual with experience-based learning. We show that teams going through this learning process repeatedly find themselves in seemingly insolvable conflicts-so called structural dilemmas-within the framework of project deadlines and under the influence of strategic guidelines of the organization. We explore these structural dilemmas and develop ways to overcome them. KW - Design Thinking KW - experience-based learning KW - project manager KW - project-based organization KW - innovation projects Y1 - 2019 U6 - https://doi.org/10.1177/8756972819853129 SN - 8756-9728 SN - 1938-9507 VL - 50 IS - 4 SP - 418 EP - 430 PB - Sage Publ. CY - Thousand Oaks ER - TY - JOUR A1 - Schmeiss, Jessica A1 - Hölzle, Katharina A1 - Tech, Robin P. G. T1 - Designing Governance Mechanisms in Platform Ecosystems: Addressing the Paradox of Openness through Blockchain Technology JF - California Management Review N2 - The paradox of openness is inherent to all platform ecosystems-the tension in enabling maximum openness to create joint innovation while guaranteeing value capturing for all actors. Governance mechanisms to solve this paradox are embedded into the technical architecture of the platform, addressing the dimensions of access, control, and incentives. Blockchain technology offers unique ways to design novel governance mechanisms through the standardization of interactions. However, the design of such an architecture requires careful consideration of the cost associated with it. KW - ecosystems KW - governance KW - value creation KW - platforms KW - technology management Y1 - 2019 U6 - https://doi.org/10.1177/0008125619883618 SN - 0008-1256 SN - 2162-8564 VL - 62 IS - 1 SP - 121 EP - 143 PB - Sage Publ. CY - Thousand Oaks ER - TY - JOUR A1 - Seyfried, Markus A1 - Ansmann, Moritz A1 - Pohlenz, Philipp T1 - Institutional isomorphism, entrepreneurship and effectiveness BT - the adoption and implementation of quality management in teaching and learning in Germany JF - Tertiary Education and Management N2 - This paper presents empirical evidence on the adoption, implementation and the perceived effectiveness of quality management in teaching and learning in German higher education institutions. Theoretically, the article combines two new institutionalist approaches: institutional isomorphism and institutional entrepreneurship. Empirically, the study refers to qualitative interview data and quantitative survey data. The analysis reveals that isomorphism is a leading driver behind the adoption of quality management in German higher education institutions, whereas institutional entrepreneurship plays an important role in quality management implementation. While isomorphism can be regarded as a conclusive reason behind the absence of a perception of quality management’s effectiveness, institutional entrepreneurship may function as a corrective towards the overall negative impact of isomorphic conformity by institutionalizing quality management in a sustainable manner. KW - Higher education KW - Quality management KW - Quality assurance KW - New institutionalism KW - Isomorphism KW - Institutional entrepreneurship Y1 - 2019 U6 - https://doi.org/10.1007/s11233-019-09022-3 SN - 1358-3883 SN - 1573-1936 VL - 25 IS - 2 SP - 115 EP - 129 PB - Springer CY - Dordrecht ER - TY - JOUR A1 - Caliendo, Marco A1 - Goethner, Maximilian A1 - Weißenberger, Martin T1 - Entrepreneurial persistence beyond survival: Measurement and determinants JF - Journal of Small Business Management N2 - Entrepreneurial persistence is demonstrated by an entrepreneur’s continued positive maintenance of entrepreneurial motivation and constantly renewed active engagement in a new business venture despite counterforces or enticing alternatives. It thus is a crucial factor for entrepreneurs when pursuing and exploiting their business opportunities and in realizing potential economic gains and benefits. Using rich data on a representative sample of German business founders, we investigated the determinants of entrepreneurial persistence. Next to observed survival, we also constructed a hybrid persistence measure capturing the motivational dimension of persistence. We analyzed the influence of individual-level (human capital and personality) and business-related characteristics on both measures as well as their relative importance. We found that the two indicators emphasize different aspects of persistence. For the survival indicator, the predictive power was concentrated in business characteristics and human capital, while for hybrid persistence the dominant factors were business characteristics and personality. Finally, we showed that results were heterogeneous across subgroups. In particular, formerly unemployed founders did not differ in survival chances, but they were more likely to lack a high psychological commitment to their business ventures. KW - entrepreneurship KW - startups KW - persistence KW - survival Y1 - 2019 VL - 58 IS - 3 PB - Taylor & Francis CY - London ER - TY - JOUR A1 - Schaan, Luca A1 - Schulz, Andre A1 - Nuraydin, Sevim A1 - Bergert, Cora A1 - Hilger, Annett A1 - Rach, Hannah A1 - Hechler, Tanja T1 - Interoceptive accuracy, emotion recognition, and emotion regulation in preschool children JF - International journal of psychophysiology N2 - Little is known about the conscious experience of internal bodily sensations in preschool-aged children. Given that preschoolers are in the most rapid phase of brain development, and display profound emotional development, it was the aim of the present study to establish an adapted interoceptive accuracy paradigm and to investigate associations between sociodemographic (age, sex) and emotional variables with interoceptive accuracy. Forty-nine children (aged 4–6 years) completed the jumping jack paradigm (JJP), a heartbeat tracking paradigm, which includes a noninvasive physical perturbation via performing jumping jacks for 10 s. An interoceptive accuracy score was based on the comparison between self-reported and objectively recorded heart rate prior to and after completion of jumping jacks. Children also completed validated measures for emotion recognition and emotion regulation. Children's objectively recorded heart rate significantly increased after the JJP by 20 bpm on average. There was a positive relationship between reactivity on self-reported heart rate and objectively recorded heart rate increase. The derived scores for interoceptive accuracy increased with age, suggesting older children to report more self-reported heart rate change than objectively recorded, but were unrelated to children's sex or BMI. While emotion recognition and regulation significantly increased with age, the interoceptive accuracy score was unrelated to emotion recognition, but marginally associated to emotion regulation. Children with higher interoceptive accuracy score (i.e., self-reporting more heart rate change than objectively recorded) received lower emotion regulation score. The present study is the first to depict a novel behavioral paradigm to assess interoceptive accuracy in preschool-aged children. KW - Interoception KW - Preschoolers KW - Interoceptive accuracy KW - Emotion recognition KW - Emotion regulation Y1 - 2019 U6 - https://doi.org/10.1016/j.ijpsycho.2019.02.001 SN - 0167-8760 SN - 1872-7697 VL - 138 SP - 47 EP - 56 PB - Elsevier CY - Amsterdam ER - TY - JOUR A1 - Kearney, Eric A1 - Shemla, Meir A1 - van Knippenberg, Daan A1 - Scholz, Florian A. T1 - A paradox perspective on the interactive effects of visionary and empowering leadership JF - Organizational Behavior and Human Decision Processes N2 - In a multi-source, lagged design field study of 197 leader-follower dyads, we test a model that predicts positive interactive effects of visionary and empowering leadership on follower performance. Based on the paradox perspective, we argue that visionary and empowering leadership are synergistic in that their combination enables leaders to address a key paradox inherent to leader behavior identified by Waldman and Bowen (2016): Maintaining control while simultaneously letting go of control. We argue that visionary leadership addresses the former and empowering leadership addresses the latter pole of this pair of opposites. Hence, in line with paradox thinking, we posit that leaders will engender more positive effects on follower performance when they enact visionary and empowering leadership behaviors simultaneously and adopt a "both-and" approach, rather than focus on one of these behaviors without the other. Our results support our hypothesized interactive effect of visionary and empowering leadership on goal clarity, as well as a conditional indirect effect such that goal clarity mediates the interactive effect of visionary and empowering leadership on individual follower performance. KW - Visionary leadership KW - Empowering leadership KW - Goal clarity KW - Performance KW - Paradox Y1 - 2019 U6 - https://doi.org/10.1016/j.obhdp.2019.01.001 SN - 0749-5978 SN - 1095-9920 VL - 155 SP - 20 EP - 30 PB - Elsevier CY - San Diego ER - TY - JOUR A1 - Gutmann, Tobias A1 - Schmeiss, Jessica A1 - Stubner, Stephan T1 - Unmasking Smart Capital How Corporate Venture Capital Units Configure Value-Adding Services JF - Research-Technology Management N2 - Corporate venture capital (CVC) units help their ventures flourish by offering value-adding services. Effective CVC initiatives offer services that help ventures design, implement, and manage activities to create and capture value. Our qualitative multiple case study across 26 CVC units reveals a comprehensive set of value creation and value capture services that these units offer, configured in any of four different ways to provide tailor-made support for specific venture needs and sponsor strategic goals. KW - Corporate venture capital KW - Value capture KW - Value creation Y1 - 2019 U6 - https://doi.org/10.1080/08956308.2019.1613117 SN - 0895-6308 SN - 1930-0166 VL - 62 IS - 4 SP - 27 EP - 36 PB - Industrial Research Institute CY - Arlington ER - TY - JOUR A1 - Wenzel, Anne-Kathrin A1 - Krause, Tobias A. A1 - Vogel, Dominik T1 - Making performance Pay Work BT - The Impact of Transparency, Participation, and Fairness on Controlling Perception and Intrinsic Motivation JF - Review of Public Personnel Administration N2 - Performance pay has been one of the main trends in public sector reform over the last decade and aims to increase employees’ motivation. However, positive results are sparse. In a majority of cases, pay scheme designers neglect that intrinsic motivation may be distorted by the introduction of extrinsic rewards (crowding out). Nevertheless, under certain conditions, performance pay schemes may also enhance intrinsic motivation (crowding-in). The perception of rewards has proven to be an especially crucial factor for the outcome of performance pay. Based on psychological contract theory, this paper analyzes the relationships between intrinsic motivation, public service motivation (PSM), personality characteristics, and the design of the performance- appraisal scheme. The empirical analysis relies on a structural equation modeling (SEM) approach. Model findings reveal that a fair, participatory, and transparent design reduces the controlling perception while fostering the intrinsic motivation of employees. In addition, participants who score high on neuroticism perceive performance pay schemes to be more controlling and have lower values of intrinsic motivation. KW - performance pay KW - motivation crowding KW - performance-related pay KW - rewards KW - performance rating KW - performance appraisals Y1 - 2017 U6 - https://doi.org/10.1177/0734371X17715502 SN - 0734-371X SN - 1552-759X VL - 39 IS - 2 SP - 232 EP - 255 PB - Sage Publ. CY - Thousand Oaks ER -