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Eleftherios Aggelopoulos

Purpose: The present study investigates how the performance of Greek bank branching varies when the external environment causes dramatic changes that are reflected in…

Abstract

Purpose: The present study investigates how the performance of Greek bank branching varies when the external environment causes dramatic changes that are reflected in recession and capital control effects.

Design/Methodology: A unique dataset of accounting Profit and Loss statements of retail branches of a systemic Greek commercial bank, closely supervised by the European Central Bank (ECB), is utilized. A profit bootstrap Data Envelopment Analysis (DEA) model is selected to measure the bank branch efficiency. The derived efficiency estimates are analyzed through a second-stage panel data regression analysis against a set of efficiency drivers related to branch profitability, diversification of income, branch size, and branch activity.

Findings: The results indicate that recession negatively affects branch efficiency in the short and long run. The occurrence of recession significantly intensifies the efficiency premium of branch profitability, reduces the efficiency premium of diversification of income (i.e., a negative efficiency effect is recorded during the early recession period), while mitigating the generally negative efficiency effect of branch size. The analysis of efficiency effects from the deep recession period that encompasses capital controls reveals the importance of diversification of income for the improvement of profit efficiency at bank branch level.

Originality/Value: This is the first branch banking study that explores branch efficiency alteration and the dynamic of branch efficiency drivers when the economy suddenly enters recession and afterwards when conditions are becoming extremely difficult and consequently capital controls are imposed on the economy.

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Article

Seyed Hossein Mortazavi

The purpose of this study is to address the concept and the step-by-step procedure of a high-precision optical alignment test for spacecrafts using digital theodolites…

Abstract

Purpose

The purpose of this study is to address the concept and the step-by-step procedure of a high-precision optical alignment test for spacecrafts using digital theodolites. The proposed scheme focuses on the non-contact alignment qualification of spacecraft components during the integration and test phases until the launch event.

Design/methodology/approach

The proposed approach is based on the exploitation of the auto-collimation feature of theodolites and several prisms attached to the requested component and satellite configuration. As soon as the misalignment measurement including the difference between the real and desired attitude or position aberration of an instrument is made, the results must be transformed from the component level to the system level for misalignment error identification in the spacecraft dynamic model.

Findings

The paper introduces the main instruments, the defined coordinate systems and the architecture of the optical spacecraft misalignment test. Moreover, the guideline of the test implementation and the resulting data process have been presented carefully.

Research limitations/implications

There is no limitation associated with this method because the procedure is applicable for high-precision typical missions.

Practical implications

This paper describes a fully implementable scheme to examine any possible inaccuracy in mounting of the spacecraft components both in position and orientation. The test can be performed without the need for a huge budget or complicated hardwares.

Originality/value

The contribution of this work revolves around illustrating the context and procedure of the spacecraft misalignment test which has remained unknown in literature despite the frequent implementation in the different satellite projects.

Details

Aircraft Engineering and Aerospace Technology, vol. 89 no. 1
Type: Research Article
ISSN: 1748-8842

Keywords

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Article

Sevim Süzeroğlu-Melchiors, Oliver Gassmann and Maximilian Palmié

In the intellectual property (IP) and management literature, the question of how external patent attorneys impact patent filings has been understudied. The purpose of this…

Abstract

Purpose

In the intellectual property (IP) and management literature, the question of how external patent attorneys impact patent filings has been understudied. The purpose of this paper is to advance this area of research by examining how the use of external patent attorneys influences the patent filing strategies of firms and what impact firms’ level of experience with the exclusive use of in-house resources has on filing strategies. This study, thus, provides insights into the strategic dimension behind patent filing, a process which is affected by patent attorneys’ work and decision-making processes.

Design/methodology/approach

The econometric analysis is based on a patent database of 922,553 patents which is combined with an EPO patent database covering applications from 1990 to 2010. The authors test the hypotheses for this study using patent indicators addressing the impact of in-house firm experience vs the use of external patent attorneys on firm’s filing strategy.

Findings

This research finds empirical evidence that external patent attorneys’ work has an effect on patent scope, international scope, and patenting speed. Moreover, it can be shown that external patent attorneys have a positive impact on most filing dimensions, such as patent scope, international scope and the Patent Cooperation Treaty option, whereas the level of in-house firm experience has a negative impact on most filing dimensions. This implies that external patent attorneys seem to pursue a “maximization approach” while experienced firms seem to pursue a more differentiated approach to filing patents, for instance, drafting narrower and more focused patents.

Practical implications

The study suggests that effective filing strategies require an integrated approach between diverse IP stakeholders. More particularly, filing strategies should be communicated and aligned between all actors, including external patent attorneys in order to achieve the targeted patenting output.

Originality/value

The current study develops a patent filing typology, which accounts for patent attorneys’ decision options. In providing insights into patent attorneys’ work and their impacts on intellectual property rights management, the study is a useful complement to prior research, which has predominantly focused on applicants or examiners.

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Article

Lukas Frank, Rouven Poll, Maximilian Roeglinger and Rupprecht Lea

Customer centricity has evolved into a success factor for many companies, requiring all corporate activities – including business processes – to be aligned with customer…

Abstract

Purpose

Customer centricity has evolved into a success factor for many companies, requiring all corporate activities – including business processes – to be aligned with customer needs. With most existing approaches to business process (re-)design focusing on process efficiency, customers are often treated as second-class citizens. Despite emergent research on customer process management, there is a lack of guidance on how to design customer-centric business processes.

Design/methodology/approach

The authors conducted a structured literature review and analyzed companies awarded for outstanding customer centricity to compile design heuristics for customer-centric business processes. The authors iteratively validated and refined these heuristics with experts from academia and industry. Finally, the heuristics was grouped according to their expected impact on interaction capabilities to enable their prioritization in specific settings.

Findings

The authors proposed 15 expert-approved and literature-backed design heuristics for customer-centric business processes together with real-world examples. The heuristics aim at increasing customer satisfaction with interaction-intensive core processes, which is an important driver of corporate success.

Originality/value

The design heuristics complement existing efficiency-centered (re-)design heuristics. They reflect cognitive shortcuts that support process analysts in the generation of innovative ideas during process (re-)design. The heuristics also add to customer process management and help put customer centricity into practice.

Details

Business Process Management Journal, vol. 26 no. 6
Type: Research Article
ISSN: 1463-7154

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Article

Remmer Sassen, Miriam Stoffel, Maximilian Behrmann, Willi Ceschinski and Hanh Doan

One group of risk governance actors that recently came into focus for empirical studies is the board of directors. In this context, the increasing number of directors that…

Abstract

Purpose

One group of risk governance actors that recently came into focus for empirical studies is the board of directors. In this context, the increasing number of directors that work on more than one board committee (committee overlap) as well as its effects on monitoring effectiveness has become a prevalent subject of discussion. In this context, this paper aims to investigate the current status of empirical research on how committee overlap affects monitoring effectiveness.

Design/methodology/approach

A meta-analytical approach is used, encompassing a total sample of 167,449 observations. The authors consider several determinants of monitoring effectiveness such as reporting quality, executive compensation, pay for performance-sensitivity, CEO turnover, audit fees, qualified audit opinion and investment/overinvestment.

Findings

The authors’ meta-analysis proves that research on the effects of committee overlap yielded highly controversial results. Although there is no correlation between overlap and monitoring effectiveness at the general level, the presence of their relationship is still confirmed in a few subcategories. The authors also verify that the legal requirements regarding board structure and committee overlap has a certain influence, particularly in the common law system.

Originality/value

The meta-analytical insights help to derive statements that are more comprehensive and go beyond the results of the investigated primary studies. Furthermore, the insights offer implications for firms, theory and new opportunities regarding future empirical research to address unresolved questions.

Details

The Journal of Risk Finance, vol. 19 no. 4
Type: Research Article
ISSN: 1526-5943

Keywords

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Article

Maximilian Prell, Marco Tulio Zanini, Fabio Caldieraro and Carmen Migueles

The aim of this study is to investigate the influence of sustainability certifications on consumer preferences. The study investigates whether product certifications have…

Abstract

Purpose

The aim of this study is to investigate the influence of sustainability certifications on consumer preferences. The study investigates whether product certifications have a significant influence on consumer preferences and examines which certificate groups work best from a marketer's perspective for matching the different consumer preferences.

Design/methodology/approach

The study uses a quantitative survey approach, based on a conjoint analysis carried out in the Brazilian juice market.

Findings

The results of 210 respondents indicate that the certifications chosen generally increase the evaluation of products. The effects, however, differ significantly between the three segments identified, especially between the two most important ones that have a combined market share of almost 90%. Our results show that demographic differences between the clusters are only marginal, as are the specific certification preferences, with a small advantage for organic certification.

Research limitations/implications

The certificates chosen serve as an example that represents the various categories. The utility of similar certificates of the same category might be different. The scope of the research is also limited to the market for ready-to-drink juice.

Practical implications

Using a dual targeting strategy, this study makes relevant recommendations for managing product certification. On the one hand, managers should consider a highly priced, certified product and, on the other, a low priced, uncertified product for satisfying identified demands. Decisions with regard to certification differentiation should mostly rely on the specific costs of the process because of limited consumer differentiation.

Originality/value

This study contributes to the literature on the influence that product certification has on consumer preferences by adding to the matter of certificate choice, especially from a marketer's perspective. Resolving this issue is important for facilitating the choice of those certificates that contribute most toward increasing consumer preference. Little research has been conducted into different certification groups and categories or the joint appearance of their different labels. Most of the research being carried out is aimed at the food market in developed countries, particularly in North America and Europe. Research in an emerging economy, therefore, introduces new scientific insights.

Details

Marketing Intelligence & Planning, vol. 38 no. 7
Type: Research Article
ISSN: 0263-4503

Keywords

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Article

Franziska Handschumacher, Maximilian Behrmann, Willi Ceschinski and Remmer Sassen

This paper aims to investigate the relationship between board interlocks and monitoring effectiveness for listed German companies in a context of risk governance. While…

Abstract

Purpose

This paper aims to investigate the relationship between board interlocks and monitoring effectiveness for listed German companies in a context of risk governance. While agency-theory and resource-dependence-theory suggest a positive association between board interlocks and monitoring effectiveness, reasons such as limited temporal resources of busy board members may suggest a negative association.

Design/methodology/approach

By using panel data regression, the authors examined the association between board interlocks and monitoring effectiveness, which was approximated by excessive management compensation, pay-for-performance-sensitivity and CEO turnover-performance-sensitivity. The data set comprises 3,998 directorships for 132 listed German companies covering the period 2015-2017.

Findings

The authors find that board interlocks are associated with not only a more excessive management pay and less performance-sensitive turnover but also a higher pay-for-performance-sensitivity.

Originality/value

The study examines the impact of multiple directorships based on a German panel data set that includes both multiple appointments of members to national supervisory boards and all other appointments to national and international executive and supervisory bodies. The authors compile three measures to operationalize monitoring effectiveness.

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Article

Sascha Raithel, Petra Wilczynski, Matthias P. Schloderer and Manfred Schwaiger

The purpose of this paper is to examine the value‐relevance of corporate reputation during times of crisis. The paper seeks to extend the view beyond the traditional focus…

Abstract

Purpose

The purpose of this paper is to examine the value‐relevance of corporate reputation during times of crisis. The paper seeks to extend the view beyond the traditional focus on the cognitive component of reputation, shed light on its affective component, and integrate the perceptions of different stakeholder groups.

Design/methodology/approach

The paper uses two large‐scale surveys, one from before and one from after the financial crisis year of 2008, to ascertain the reputation evaluations of the largest publicly listed corporations in Germany. The paper employs a model augmented with standard accounting variables (i.e. sales, return on assets, etc.) to analyse the link between corporate reputation as noted by different stakeholder groups and future firm value.

Findings

Even though corporations are not able to elude the overall negative impact of an economic crisis, the magnitude of influence depends on the individual firm dynamics as related to the firm's reputation. In particular, firm value dynamics are significantly associated with a reputation's affective component as perceived by the general public and its cognitive component as perceived by opinion leaders.

Research limitations/implications

The paper analyses only very large corporations in Germany over a limited period of time.

Practical implications

Managers cannot influence the course of a trans‐national crisis, but they can immunise their company against its impacts by managing financial and non‐financial drivers of firm reputation within the various stakeholder groups.

Originality/value

The paper extends previous research on the value‐relevance of corporate reputation by exploring the roles of different stakeholder groups' perceptions of the affective and cognitive component of reputation.

Details

Journal of Product & Brand Management, vol. 19 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

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Abstract

Details

Measurement and Research Methods in International Marketing
Type: Book
ISBN: 978-1-78052-095-7

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Article

Ralf Martin Ester, Dimitris Assimakopoulos, Maximilian von Zedtwitz and Xiubao Yu

How does the internationalization of R&D influence the development of dynamic capabilities? Based on the observation that Chinese high‐tech companies internationalize…

Abstract

Purpose

How does the internationalization of R&D influence the development of dynamic capabilities? Based on the observation that Chinese high‐tech companies internationalize parts of their R&D activities to Western countries before they have established sound domestic R&D capabilities and in opposition to other held beliefs about internationalization drivers this paper aims to investigate the role of global R&D organizational structure in the development of dynamic capabilities.

Design/methodology/approach

This research is based on a qualitative case study using data of one Chinese high‐tech firm to develop testable propositions.

Findings

The research develops three main propositions: the loss of competitive advantage and relevant capabilities in the domestic market is more important to the internationalization of R&D than an attempt to enter new international markets; in joint development teams with a partner company, a functional R&D team sub‐structure using heavyweight or autonomous teams leads to a higher degree of knowledge exchange in the partner sub‐project organization; R&D projects conducted in organizations with higher formal control lead to a higher degree of learning than R&D projects conducted when control is shared with a partner; R&D projects which rely extensively on external knowledge (with no formal control) produce better outcomes for learning than projects conducted under joint control; R&D projects which rely extensively on external knowledge (with no formal control) produce better outcomes for learning than projects conducted in full control.

Research limitations/implications

As the research is based on data of one single case study there are several inherent limitations regarding validity and reliability which need to be covered by future research.

Originality/value

This paper posits that R&D internationalization has a positive influence on the development of dynamic capabilities.

Details

Journal of Knowledge-based Innovation in China, vol. 2 no. 1
Type: Research Article
ISSN: 1756-1418

Keywords

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