Lehrstuhl Unternehmensführung
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Item Narcissism at the CEO–TMT interface: measuring executive narcissism and testing its effects on TMT composition(2024-04-13) Junge, Sebastian; Graf-Vlachy, Lorenz; Hagen, Moritz; Schlichte, FranziskaExtant strategic leadership literature has established the substantial and nuanced implications of narcissism in chief executive officers (CEOs) for firm outcomes, and psychological research on narcissism in groups highlights the importance of narcissism for interpersonal dynamics. However, there is little research on strategic leaders’ narcissism and the CEO–top management team (TMT) interface, especially related to its configuration by way of TMT composition. In this article, we therefore study two issues. First, we examine how CEO narcissism directly affects two aspects of TMT composition—the narcissism of newly appointed TMT members and TMT turnover. Second, we consider the moderating effect of TMT narcissism on the relationship between CEO narcissism and TMT turnover. To be able to test our theory, we develop and extensively validate a novel measure based on LinkedIn profiles that allows us to capture the narcissism of non-CEO executives. We find substantial support for our predictions in a large sample of executives of S&P 1500 corporations across a 5-year time frame. We discuss the contributions and implications of our findings for the literatures on executive narcissism, TMT composition, and the CEO–TMT interface.Item The innovator's media dilemma: how journalists cover incumbents' adoption of discontinuous technologies(2022-11-18) Graf-Vlachy, Lorenz; König, Andreas; Banfield, Richard; Rauch, Markus; Boutalikakis, AngeloWe offer a new vantage to the literature on the role of infomediaries in incumbent firms' struggles to adopt discontinuous technologies: the perspective of news media. Specifically, we combine the discontinuous technology literature with studies on news media journalism to theorize that journalists cover an incumbent's new product introductions differently, depending on whether a given new product builds on a discontinuous technology or on the respective established, continuous technology. First, discontinuous-technology-based product introductions receive a greater volume of coverage than continuous-technology-based product introductions because journalists prefer covering issues that are novel, deviate from the conventional, and potentially strongly impact society. Second, the coverage of discontinuous-technology-based product introductions is more divergent in tenor than the coverage of continuous-technology-based product introductions, as journalists seek to present opposing and thus more engaging opinions. Our analyses of unique archival data from two samples of product introductions in the automotive and photography industries, respectively, support our hypotheses. We also find intriguing indications that news media coverage of new products introductions using hybrid technologies is significantly context-dependent. Overall, our study points to so-far undescribed, media-related dilemmas for incumbent firms that aim to adopt discontinuous technologies.Item Chief digital officers: the state of the art and the road ahead(2021-06-07) Kessel, Lena; Graf-Vlachy, LorenzThere is a lively debate on chief digital officers (CDOs). Some practitioners stress CDOs’ critical role in recrafting digital strategies and accelerating digital transformation, while others predict their disappearance. Academics have also recently begun to study this new executive position and conducted research on CDOs which is, however, scattered across different disciplines and publication outlets. We conduct a systematic literature review that consolidates these initial gains in knowledge. Specifically, we integrate findings on theoretical lenses, research designs, and key themes in studies on CDOs and we propose a framework that organizes CDO research in three broad themes: antecedents of CDO presence, the CDO role, and consequences of CDO presence. We then build on identified gaps to develop an extensive agenda for future research on CDOs. For academic researchers, we not only offer a discipline-spanning overview of knowledge on the topic at hand but also provide useful direction towards fruitful avenues for future research on CDOs. For practitioners, we offer a summary of the current scientific literature on CDOs, including relevant insights on CDO appointments, governance, and performance consequences.Item The politics of piracy: political ideology and the usage of pirated online media(2021-10-19) Graf-Vlachy, Lorenz; Goyal, Tarun; Ouardi, Yannick; König, AndreasThere is a lack of clarity in information systems research on which factors lead people to use or not use technologies of varying degrees of perceived legality. To address this gap, we use arguments from the information systems and political ideology literatures to theorize on the influence of individuals’ political ideologies on online media piracy. Specifically, we hypothesize that individuals with a more conservative ideology, and thus lower openness to experience and higher conscientiousness, generally engage in less online media piracy. We further hypothesize that this effect is stronger for online piracy technology that is legally ambiguous. Using clickstream data from 3873 individuals in the U.S., we find that this effect in fact exists only for online media piracy technologies that are perceived as legally ambiguous. Specifically, more conservative individuals, who typically have lower ambiguity intolerance, use (legal but ambiguously perceived) pirated streaming websites less, while there is no difference for the (clearly illegal) use of pirated file sharing websites.Item Predicting managers' mental health across countries: using country-level COVID-19 statistics(2022-05-19) Li, Lun; Zhang, Stephen X.; Graf-Vlachy, LorenzBackground: There is limited research focusing on publicly available statistics on the Coronavirus disease 2019 (COVID-19) pandemic as predictors of mental health across countries. Managers are at risk of suffering from mental disorders during the pandemic because they face particular hardship. Objective: We aim to predict mental disorder (anxiety and depression) symptoms of managers across countries using country-level COVID-19 statistics. Methods: A two-wave online survey of 406 managers from 26 countries was performed in May and July 2020. We used logistic panel regression models for our main analyses and performed robustness checks using ordinary least squares regressions. In the sample, 26.5% of managers reached the cut-off levels for anxiety (General Anxiety Disorder-7; GAD-7) and 43.5% did so for depression (Patient Health Questionnaire-9; PHQ-9) symptoms. Findings: We found that cumulative COVID-19 statistics (e.g., cumulative cases, cumulative cases per million, cumulative deaths, and cumulative deaths per million) predicted managers' anxiety and depression symptoms positively, whereas daily COVID-19 statistics (daily new cases, smoothed daily new cases, daily new deaths, smoothed daily new deaths, daily new cases per million, and smoothed daily new cases per million) predicted anxiety and depression symptoms negatively. In addition, the reproduction rate was a positive predictor, while stringency of governmental lockdown measures was a negative predictor. Individually, we found that the cumulative count of deaths is the most suitable single predictor of both anxiety and depression symptoms. Conclusions: Cumulative COVID-19 statistics predicted managers' anxiety and depression symptoms positively, while non-cumulative daily COVID-19 statistics predicted anxiety and depression symptoms negatively. Cumulative count of deaths is the most suitable single predictor of both anxiety and depression symptoms. Reproduction rate was a positive predictor, while stringency of governmental lockdown measures was a negative predictor.Item Is the readability of abstracts decreasing in management research?(2021-05-31) Graf-Vlachy, LorenzThe readability of scientific texts is critical for the successful distribution of research findings. I replicate a recent study which found that the abstracts of scientific articles in the life sciences became less readable over time. Specifically, I sample 28,345 abstracts from 17 of the leading journals in the field of management and organization over 3 decades, and study two established indicators of readability over time, namely the Flesch Reading Ease and the New Dale–Chall Readability Formula. I find a modest trend towards less readable abstracts, which leads to an increase in articles that are extremely hard to read from 12% in the first decade of the sample to 16% in the final decade of the sample. I further find that an increasing number of authors partially explains this trend, as do the use of scientific jargon and corresponding author affiliations with institutions in English-speaking countries. I discuss implications for authors, reviewers, and editors in the field of management.Item Asking questions to promote employee participation(2018) Austermann, Laura; Engelen, Andreas; Rowold, JensItem Der Diversification Discount deutscher börsennotierter Unternehmen und seine Einflussfaktoren(2014) Kluge, Jasmin; Engelen, Andreas; Liening, AndreasDas Thema der kapitalmarktorientierten Unternehmensführung hat im Rahmen der Forschung in der Betriebswirtschaftslehre, dem strategischen Management im Speziellen, in den letzten beiden Jahrzehnten zunehmend an Beachtung gefunden. Gleichzeitig werden in der Praxis häufig strategische Entscheidungen von Unternehmen, die zum Erfolg beitragen sollen, infrage gestellt. Aufgrund dessen wird, vorwiegend in der Forschung im US-amerikanischen Raum, ein Bewertungsunterschied zwischen diversifizierten und fokussierten Unternehmen am Kapitalmarkt nachgewiesen und untersucht. Die vorliegende Arbeit beantwortet folgende zwei Fragen: Unterliegen deutsche börsennotierte, diversifizierte Unternehmen, verglichen mit fokussierten Unternehmen, einem Bewertungsunterschied und ist dieser im Durchschnitt negativ? Kann der Bewertungsunterschied von deutschen Unternehmen am Kapitalmarkt durch einen strategischen Wandel bzw. eine strategische Ausrichtung beeinflusst werden? Mittels einer Excess Value-Berechnung und anschließenden Regressionsanalysen konnte ein durchschnittlich negativer Bewertungsunterschied – ein Diversification Discount – für deutsche diversifizierte Unternehmen nachgewiesen werden. Des Weiteren konnten der Diversifikationsgrad, die Branchenzugehörigkeit sowie die Verfolgung der Kostenführerschaftsstrategie als Einflussfaktoren auf den Discount identifiziert werden. Die Verfolgung der Differenzierungsstrategie und die Durchführung eines strategischen Wandels konnten nicht als Einflussfaktor bestätigt werden. Die Arbeit gibt erste Ansatzpunkte für die weitere Erforschung des Einflusses des strategischen Managements auf einen Bewertungsunterschied und die Identifikation weiterer Einflussfaktoren, im Speziellen für deutsche kapitalmarktorientierte Unternehmen.