This is a picture of ESMT books and working papers

Publications

ESMT Berlin publishes in international academic journals, which are first-class in their respective fields. Research also provides cutting-edge and profound insights for the business community as well as the classroom through managerial publications and case studies. This rare integration of research and practice makes ESMT Berlin an outstanding location for generating relevant and ground-breaking knowledge.

Journal Article

Linear social interactions models

Journal of Political Economy 123 (2): 444–496
Lawrence E. Blume, William A. Brock, Steven N. Durlauf, Rajshri Jayaraman (2015)
Abstract:
Subject(s): Economics, politics and business environment
Keyword(s): Social interactions, identification, incomplete information games
JEL Code(s): C21, C23, C31, C35, C72, Z13

This paper provides a systematic analysis of identification in linear social interactions models. This is both a theoretical and an econometric exercise as the analysis is linked to a rigorously delineated model of interdependent decisions. We develop an incomplete information game that describes individual choices in the presence of social interactions. The equilibrium strategy profiles are linear. Standard models in the empirical social interactions literature are shown to be exact or approximate special cases of our general framework, which in turn provides a basis for understanding the microeconomic foundations of those models. We consider identification of both endogenous (peer) and contextual social effects under alternative assumptions on a priori information about network structure available to an analyst, and contrast the informational content of individual-level and aggregated data. Finally, we discuss potential ramifications for identification of endogenous group selection and differences between the information sets of analysts and agents.

With permission of the University of Chicago Press

Volume 123
Issue 2
Pages 444–496

Journal Article

Two birds, one stone? Positive mood makes products seem less useful for multiple-goal pursuit

Journal of Consumer Psychology 25 (2): 296–303
Anastasiya Pocheptsova, Francine Espinoza Petersen, Jordan Etkin (2015)
Abstract:
Subject(s): Marketing
Keyword(s): Goals, product evaluation, positive mood

Negotiating the pursuit of multiple goals often requires making difficult trade-offs between goals. In these situations, consumers can benefit from using products that help them pursue several goals at the same time. But do consumers always prefer these multipurpose products? We propose that consumers’ incidental mood state alters perceptions of products in a multiple-goals context. Four studies demonstrate that being in a positive mood amplifies perceptions of differences between multiple conflicting goals. As a consequence, consumers are less likely to evaluate multipurpose products as being able to serve multiple distinct goals simultaneously. We conclude by discussing implications of these findings for marketers of multipurpose products.

With permission of Elsevier

Volume 25
Issue 2
Pages 296–303

Journal Article

Consumer reactions to business-nonprofit alliances: Who benefits and when?

Marketing Letters 26 (1): 29–42
Caglar Irmak, Sankar Sen, CB Bhattacharya (2015)
Abstract:
Subject(s): Ethics and social responsibility, Marketing
Keyword(s): Corporate social responsibility, business–nonprofit alliance, nonprofit, Company involvement, company reputation, alliance fit

We investigate the effect of increased company involvement on consumer reactions to companies and nonprofits in business–nonprofit alliances to show that consumer reactions to the two parties in such alliances can, under certain conditions, diverge from each other. Specifically, we show that increased company involvement results in more positive consumer attitudes toward companies with low (but not high) reputation, while it leads to more positive consumer attitude toward nonprofits that partner with companies with high (but not low) reputation. Furthermore, we demonstrate that these effects are independent of the perceived fit between the company and nonprofit forming the alliance. Finally, we show that when consumers elaborate on company motives, the observed effects of increased company involvement are mitigated.

© Springer Science+Business Media New York 2013. With permission of Springer

Volume 26
Issue 1
Pages 29–42

Journal Article

Corporate crises in the age of corporate social responsibility

Business Horizons 58 (2): 183–192
Catherine Janssen, Sankar Sen, CB Bhattacharya (2015)
Abstract:
Subject(s): Ethics and social responsibility
Keyword(s): Corporate social responsibility, corporate crisis, insulation, crisis management

Many companies today believe that corporate social responsibility (CSR) acts as a reservoir of goodwill, insulating the firm from the negative impacts of a crisis. Yet, the impact of CSR on public reaction to corporate crises is more complex. Drawing on research on stakeholder reactions to CSR and—more specifically—corporate crises, we present a contingent framework for understanding the roles of CSR in corporate crises and how to manage it. This framework posits that CSR plays four important roles: it (1) increases stakeholders’ attention to crises, (2) affects blame attributions, (3) raises expectations, and (4) changes stakeholders’ evaluations of crisis situations. Several factors underlying these roles are also discussed. Overall, this article underscores that while CSR may insulate companies and mitigate stakeholders’ negative responses in some cases, in others it may actually lead to the opposite effect, amplifying the negative impact of a crisis. The article ends with a brief discussion of the implications of our framework for effective crisis management strategies in the age of CSR.

With permission of Elsevier

Volume 58
Issue 2
Pages 183–192

Journal Article

The Markov-switching jump diffusion LIBOR market model

Quantitative Finance 15 (3): 455–476
Lea Steinruecke, Rudi Zagst, Anatoliy V. Swishchuk (2015)
Abstract:
Subject(s): Finance, accounting and corporate governance
Keyword(s): LIBOR market model, jump diffusion,Markov switching, Heath-Jarrow-Morton model, pricing, parameter estimation
JEL Code(s): C02, C60, G12, G13
Volume 15
Issue 3
Pages 455–476

Journal Article

A proportional value for cooperative games with a coalition structure

Theory and Decision 78 (2): 273–287
Abstract:
Subject(s): Management sciences, decision sciences and quantitative methods
Keyword(s): Shapley value, Owen value, proportional value, consistency
Volume 78
Issue 2
Pages 273–287

Journal Article

The “greatest” carry trade ever? Understanding Eurozone bank risks

Journal of Financial Economics 115 (2): 215–236
Lead Article
2014 TCFA Best Paper Award
Viral V. Acharya, Sascha Steffen (2015)
Abstract:
Subject(s): Finance, accounting and corporate governance
Keyword(s): Sovereign debt crisis, banking crisis, risk-shifting, regulatory arbitrage, home bias, moral suasion
JEL Code(s): G01, G21, G28, G14, G15, F3

We show that eurozone bank risks during 2007-2013 can be understood as “carry trade” behavior. Bank equity returns load positively on peripheral (Greece, Italy, Ireland, Portugal, Spain, or GIIPS) bond returns and negatively on German government bond returns, which generated “carry” until the deteriorating GIIPS bond returns adversely affected bank balance sheets. We find support for risk-shifting and regulatory arbitrage motives at banks in that carry trade behavior is stronger for large banks and banks with low capital ratios and high risk-weighted assets. We also find evidence for home bias and moral suasion in the subsample of GIIPS banks.

With permission of Elsevier

Volume 115
Issue 2
Pages 215–236

Journal Article

Lessons luxury wine brands teach us about authenticity and prestige

The European Business Review January/February: 38–43
Klaus Heine, Francine Espinoza Petersen (2015)
Abstract:
Subject(s): Marketing
Keyword(s): Wine, prestige, authenticity, brand, luxury
Volume January/February
Pages 38–43

Journal Article

A fleet without a captain? Taking stock of European antitrust litigation post EU directive

CPI Antitrust Chronicle 1 (1)
Hans W. Friederiszick, Michael Rauber (2015)
Abstract:
Subject(s): Economics, politics and business environment
Volume 1
Issue 1

Journal Article

Improving digital innovation in large enterprise: Strengthening e-leadership at C-level

The European Business Review January/February: 15–19
Joe Peppard, Simon Robinson, Tobias Hüsing (2015)
Abstract:
Subject(s): Information technology and systems, Technology, R&D management
Keyword(s): Big data and analytics, business process, corporate governance, emerging ideas, innovation, Internet of things, leadership, technology
Issue January/February
Pages 15–19

Journal Article

Angemessene Rendite im Bussektor. Ewiger Streit oder lösbare Aufgabe?

Der Nahverkehr 1–2: 41–43
Hans W. Friederiszick, Simone Kohnz (2015)
Abstract:
Subject(s): Economics, politics and business environment
Issue 1–2
Pages 41–43

Journal Article

Der große Treiber [The big driving force]

Harvard Business Manager Spezial: 107–112
Joe Peppard (2014)
Abstract:
Subject(s): Information technology and systems
Volume Spezial
Pages 107–112

Journal Article

Me, a woman and a leader: Positive social identity and identity conflict

Organizational Behavior and Human Decision Processes 125 (2): 204–219
Natalia Karelaia, Laura Guillén (2014)
Abstract:
Subject(s): Human resources management/organizational behavior

This paper focuses on women leaders’ self-views as women and leaders and explores consequences of positive social identity (i.e., positive evaluation of the social category in question) for women in leadership positions. We hypothesized that holding positive gender and leader identities reduced perceived conflict between women’s gender and leader identities and thereby resulted in favorable psychological and motivational consequences. Studies 1 and 2 revealed that positive gender identity indeed reduced women leaders’ identity conflict. In Study 3, we found that by lessening identity conflict, positive gender identity reduced stress, increased life satisfaction, and caused women to construe leading more as an attractive goal than a duty. In contrast, positive leader identity directly affected women’s motivation to lead, but did not reduce their identity conflict. Overall, these results emphasize the protective role of women’s positive gender identity for their advancement in organizations and leader identity development.

With permission of Elsevier

Volume 125
Issue 2
Pages 204–219

Journal Article

Do mental health stigma and gender influence MBAs' willingness to engage in coaching?

International Journal of Mentoring and Coaching in Education 3 (3): 277–292
Julia Millard, Konstantin Korotov (2014)
Abstract:
Subject(s): Human resources management/organizational behavior
Keyword(s): Coaching, business education, mentoring and coaching in HE

While much research has been done on how attitudes towards therapy relate to engagement in it, the willingness to engage in coaching has not yet been studied. As coaching continues to grow in popularity and makes its way into curricula of MBA programs, it is worth examining what factors may influence people’s attitudes toward this new type of psychological support. With frequently noticed and discussed similarities between coaching and therapy, this paper examines whether particular antecedents of engagement in therapy, namely mental health stigma and gender, would be equally relevant for engagement in coaching by MBA students.

With permission of Emerald

Volume 3
Issue 3
Pages 277–292

Pages