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

Screening and merger activity

Journal of Industrial Economics 58 (4): 794–817
Albert Banal-Estanol, Paul Heidhues, Rainer Nitsche, Jo Seldeslachts (2010)
Abstract:
Subject(s): Economics, politics and business environment
Keyword(s): takeovers, merger waves, defense tactics, screening
JEL Code(s): D21, D80, L11

In our paper, the target of a proposed merger, by setting a reserve price, is able to screen prospective acquirers according to their (expected) ability to generate merger-specific synergies. Both empirical evidence and many merger models suggest that the difference between high and low-synergy mergers becomes smaller during booms. Thus, a target's opportunity cost for sorting out relatively less fitting acquirers increases and, hence, targets screen less tightly during booms, which leads to a hike in merger activity. Our screening mechanism not only predicts that merger activity is intense during booms and subdued during recessions but is also consistent with other stylized facts about takeovers and generates novel testable predictions.

© The Author 2011. Published by Oxford University Press on behalf of The Review of Economic Studies Limited.

Volume 58
Issue 4
Pages 794–817

Journal Article

Лаборатория идентичности [Identity laboratory]

Harvard Business Review Russia 63 (11): 1–3
Abstract:
Subject(s): Human resources management/organizational behavior
Keyword(s): identity, change, leadership development
Volume 63
Issue 11
Pages 1–3

Journal Article

Consuming experience: Why affective forecasters overestimate comparative value

Journal of Experimental Social Psychology 46 (6): 986–992
Carey K. Morewedge, Daniel T. Gilbert, Kristian Ove R. Myrseth, Karim S. Kassam, Timothy D. Wilson (2010)
Abstract:
Subject(s): Marketing
Keyword(s): affective forecasting, comparison, attention, contrast effect, judgment and decision making

The hedonic value of an outcome can be influenced by the alternatives to which it is
compared, which is why people expect to be happier with outcomes that maximize
comparative value (e.g., the best of several mediocre alternatives) than with outcomes
that maximize absolute value (e.g., the worst of several excellent alternatives). The
results of five experiments suggest that affective forecasters overestimate the importance
of comparative value because forecasters do not realize that comparison requires
cognitive resources, and that experiences consume more cognitive resources than do
forecasts. In other words, because forecasters overestimate the extent to which they will
be able to think about what they didn't get while experiencing what they got.

With permission of Elsevier

Volume 46
Issue 6
Pages 986–992

Journal Article

Marketing's consequences: Stakeholder marketing and supply chain CSR issues

Business Ethics Quarterly 20 (4): 617–641
CB Bhattacharya, N. Craig Smith, Guido Palazzo (2010)
Abstract:
Subject(s): Marketing
Keyword(s): marketing, supply chain, CSR communication, stakeholder marketing, fair trade
Volume 20
Issue 4
Pages 617–641

Journal Article

Discussing values in executive education: From "non-discussable" to learning management of meaning

Training and Management Development Methods 24 (4): 3.15–3.21
Abstract:
Subject(s): Human resources management/organizational behavior
Keyword(s): values, leadership, executive education

This paper explains how the authors have successfully integrated values, guiding principles, codes of conduct and other intangible elements of organizational culture into executive-education programmes.The paper highlights the problems of integrating values, guiding principles, codes of conduct and other intangible elements of organizational culture in executive-education programs and suggests how a Leading for Values workshop can be designed and conducted to overcome these problems.

With permission of Emerald

Volume 24
Issue 4
Pages 3.15–3.21

Journal Article

Комплекс полноценности [The superiority complex]

Harvard Business Review Russia
Abstract:
Subject(s): Human resources management/organizational behavior
Keyword(s): Russia, learning, management

This column discusses the challenges of finding oneself in a situation of luck and not mixing up hard work and effort with serendipity in the context of Russian organizations.


Journal Article

Are you ignoring trends that could shake up your business?

Harvard Business Review 88 (7–8): 124–131
Elie Ofek, Luc Wathieu (2010)
Abstract:
Subject(s): Strategy and general management
Keyword(s): consumer behavior, technology, trends, digital revolution

Trends, including those that seem peripheral, change consumers' aspirations, attitudes, and behaviors in ways that may not be obvious. The digital revolution, for instance, has led people to value offerings that provide instant gratification and help them multitask. This is as important for a company that sells sports shoes as it is for one that sells video games. There are three strategies for addressing the impact of trends: Infuse aspects of the trend into the category to augment traditional offerings, as Coach did with its lower-priced, youthful Poppy handbags. Combine aspects of the trend with attributes of the category to produce radical offerings that transcend the category, as Nike did with its Nike+ sports kit and web service. Counteract negative effects of the trend by developing products and services that reaffirm the category's values, as iToys did with its ME2 video game, which encourages children to be physically active.

Volume 88
Issue 7–8
Pages 124–131
ISSN 0017-8012 (Print)

Journal Article

Online social networks: Why we disclose

Journal of Information Technology 25 (2): 109–125
Hanna Krasnova, Sarah Spiekermann, Ksenia Koroleva, Thomas Hildebrand (2010)
Abstract:
Subject(s): Information technology and systems
Keyword(s): Online social networks, online communities, motivation, privacy, information disclosure, structural equation modeling
Volume 25
Issue 2
Pages 109–125

Journal Article

Quantification of harm in damages actions for antitrust infringements: Insights from German cartel cases

Journal of Competition Law and Economics 6 (3): 595–618
Abstract:
Subject(s): Economics, politics and business environment
Keyword(s): antitrust law, horizontal anticompetitive practices, quantification of damages
JEL Code(s): L12, L41, K21, K41, C10
Volume 6
Issue 3
Pages 595–618

Journal Article

The last frontier: Market creation in conflict zones, deep rural areas, and urban slums

California Management Review 52 (4): 6–28
Jamie Anderson, Constantinos Markides, Martin Kupp (2010)
Abstract:
Subject(s): Strategy and general management
Keyword(s): India, developing economies, mobile operator, competitive strategy, rural marketing, bottom of the pyramid, BoP, low-income consumer
Volume 52
Issue 4
Pages 6–28

Journal Article

Why too much trust is death to innovation

Sloan Management Review 51 (4): 33–38
Francis Bidault, Alessio Castello (2010)
Abstract:
Subject(s): Technology, R&D management
Keyword(s): trust, creativity, innovation, partnership
Volume 51
Issue 4
Pages 33–38

Journal Article

Estimating network effects and compatibility: Evidence from the Polish mobile market

Information Economics and Policy 22 (2): 130–143
Abstract:
Subject(s): Economics, politics and business environment
Keyword(s): structural econometric model, network effects, compatibility, mobile telephony
JEL Code(s): C51, D12, L96

I develop a structural demand model for mobile telephony that facilitates the identification of network effects and inter-network compatibility. Network effects are measured as the dependence of consumer willingness to pay on the installed base of subscribers, compatibility as the relative extent of cross- and own-network effects. Estimating the model using quarterly panel data from the Polish mobile telephone market for the period 1996-2001, I find strong network effects and, despite full interconnection of the mobile telephone networks, low compatibility. I also show that ignoring network effects leads to overestimation of demand elasticity.

With permission of Elsevier

Volume 22
Issue 2
Pages 130–143

Journal Article

How to stop customers from fixating on price

Harvard Business Review 88 (5): 84–91
Marco Bertini, Luc Wathieu (2010)
Abstract:
Subject(s): Strategy and general management
Keyword(s): price, decision making, price sensitivity

In mature markets, heavy competition has a commoditizing effect, and customers become increasingly fixated on price. When marketers refer to "commoditization," they typically mean diminishing differences among offerings. But it's also a psycholocgical state: Consumers fall into a mind-set that makes them less receptive to innovation or marketing campaigns. Paradoxically, one of the most imprtant levers managers can use to revive consumer interest is price. The authors dexcribe four pricing movest that can call attention to how an offering is different - and why it deserves to fetch a premium.

Volume 88
Issue 5
Pages 84–91
ISSN 0017-8012 (Print)

Journal Article

Understanding creativity: The manager as artist

Rotman Magazine Spring: 22–27
Jörg Reckhenrich, Martin Kupp, Jamie Anderson (2010)
Abstract:
Subject(s): Strategy and general management
Keyword(s): Creativity, strategy, decision making, innovation
Issue Spring
Pages 22–27

Journal Article

The new game in town: Competitive effects of IPOs

The Journal of Finance 65 (2): 495–528
Hung-Chia Hsu, Adam V. Reed, Jörg Rocholl (2010)
Abstract:
Subject(s): Finance, accounting and corporate governance
Keyword(s): IPOs, competitive effects, financial certification, knowledge capital

We analyze the effect of initial public offerings (IPOs) on industry competitors and
provide evidence that companies experience negative stock price reactions to completed
IPOs in their industry and positive stock price reactions to their withdrawal.
Following a successful IPO in their industry, they show significant deterioration in
their operating performance. These results are consistent with the existence of IPOrelated
competitive advantages through the loosening of financial constraints, financial
intermediary certification, and the presence of knowledge capital. These aspects
of competitiveness are significant in explaining the cross-section of underperformance
as well as survival probabilities for competing firms.

This article is protected by copyright. All rights reserved.

Volume 65
Issue 2
Pages 495–528

Pages