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

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

Journal Article

Footprints in the sands of time: A comparative analysis of the effectiveness of customer satisfaction and customer–company identification over time

Journal of Marketing 78 (6): 78–102
Till Haumann, Benjamin Quaiser, Jan Wieseke, Mario Rese (2014)
Abstract:
Subject(s): Marketing
Keyword(s): Customer satisfaction, customer–company identification, competitive advertising, customer loyalty, customer willingness to pay, latent growth modeling

Previous research has identified customer satisfaction and customer–company identification as two of the most important concepts in relationship marketing. Despite their proclaimed importance, research on their long-term effectiveness is surprisingly scarce. Furthermore, comparative research acknowledging the concepts' different theoretical roots and illuminating the differences in their long-term effectiveness is lacking. Also, little is known about how competitive actions affect the long-term effectiveness of both concepts. This study makes a first attempt to address these research voids and offers a comparative analysis of the effectiveness of customer satisfaction and customer–company identification in driving important customer outcomes over time. Latent growth analyses of rich longitudinal data from customers over nine measurement points spanning 43 weeks (n = 6930) show that customer satisfaction and customer–company identification have positive initial effects on customers' loyalty and willingness to pay, but differ in their ability to maintain these positive effects over time. While the positive effects of customer satisfaction decrease more rapidly, the effects of customer– company identification are significantly more persistent. Analysis of the moderating effects of relative competitive advertising suggests that customer–company identification is more effective at immunizing customers against competitive actions.

With the permission of the American Marketing Association

Volume 78
Issue 6
Pages 78–102

Journal Article

Willing to pay more, eager to pay less: The role of customer loyalty in price negotiations

Journal of Marketing 78 (6): 17–37
Jan Wieseke, Sascha H. Alavi, Johannes Habel (2014)
Abstract:
Subject(s): Marketing
Keyword(s): Customer loyalty, negotiation, personal selling
JEL Code(s): M310

This paper is the first to empirically examine the effect of customer loyalty in retail price negotiations. Across three field studies and one negotiation experiment, the authors establish what they call the loyalty-discount cycle: in price negotiations with salespeople, loyal customers realize deeper discounts that in turn increase customer loyalty, resulting in a downward spiral of a company’s price enforcement. The reason for the positive effect of customer loyalty on discount is twofold: (1) loyal customers demand a reward for their loyalty and invoke their elevated perceived negotiation power; (2) to retain loyal customers, salespeople grant discounts more willingly. Furthermore, the mechanisms are moderated by the basis of a customer’s loyalty (price vs. quality) and the length of the relationship between the salesperson and the customer. To escape the loyalty-discount cycle, salespeople can use functional and relational customer-oriented behaviors. The study helps managers and salespeople to optimize their price enforcement and servicing of loyal customers.

With the permission of the American Marketing Association

Volume 78
Issue 6
Pages 17–37

Journal Article

Overcoming localization of knowledge: The role of professional service firms

Strategic Management Journal 35 (11): 1671–1688
2015 VHB Best Paper Award (Nominated)
Stefan Wagner, Karin Hoisl, Grid Thoma (2014)
Abstract:
Subject(s): Information technology and systems, Technology, R&D management

The literature on organizational learning asserts that external learning is often limited geographically and technologically. We scrutinize to what extent organizations acquire external knowledge by accessing external knowledge repositories. We argue that professional service firms (PSFs) grant access to non-localized knowledge repositories and thereby not only facilitate external learning but also help to overcome localization. Focusing on patent law firms, we test our predictions using a unique dataset of 544,820 pairs of EP patent applications. Analyzing patterns of knowledge flows captured in patent citations we find that accessing a PSF’s repository facilitates the acquisition of external knowledge. As the effect is more pronounced for knowledge that is distant to a focal organization we conclude that having access to a knowledge repository compensates for localization disadvantages.

© 2013 John Wiley & Sons, Ltd.

Volume 35
Issue 11
Pages 1671–1688

Journal Article

International standards and international trade: Empirical evidence from ISO 9000 diffusion

International Journal of Industrial Organization 36 (5): 70–82
Joseph A. Clougherty, Michał Grajek (2014)
Abstract:
Subject(s): Economics, politics and business environment
Keyword(s): Networks, international trade, standards, technical trade barriers, ISO 9000
JEL Code(s): C51, F13, L15

Empirical scholarship on the standards-trade relationship has been held up due to methodological challenges: measurement, varied effects, and endogeneity. Considering the trade-effects of one particular standard (ISO 9000), we surmount methodological challenges by measuring standardization via national penetration of ISO 9000, allowing standardization to manifest via multiple (quality-signaling, information/compliance-cost, and common-language) channels, and using instrumental variable, multilateral resistance and panel data techniques to overcome endogeneity. We find evidence of common-language and quality-signaling augmenting country-pair trade. Yet, ISO-rich nations (most notably European) benefit the most from standardization, while ISO-poor nations find ISO 9000 to represent a trade barrier due to compliance-cost effects.

With permission of Elsevier

Volume 36
Issue 5
Pages 70–82

Journal Article

Fehler im System [Error in the system]

Harvard Business Manager 10: 82–86
Abstract:
Subject(s): Human resources management/organizational behavior, Strategy and general management
Keyword(s): Error management
Issue 10
Pages 82–86

Journal Article

How newly appointed CIOs take charge

MIS Quarterly Executive 13 (3): 159–173
Anthony B. Gerth, Joe Peppard (2014)
Abstract:
Subject(s): Information technology and systems, Strategy and general management
Keyword(s): Taking charge, Chief Information Officer, new appointment, transition, leader socialization, executive integration, IT leadership
Volume 13
Issue 3
Pages 159–173

Pages