HHL LEIPZIG GRADUATE SCHOOL OF MANAGEMENT FALL 2020

Biggest Intake Ever page 03

New MSc Finance Track page 04

Executive Education: Two New Programs page 10 … and many more insights Coaching Offers for our Alumni into HHL’s research, teaching page 21 and campus activities 02 HHL NEWS FALL 2020

EDITORIAL

Dear HHL Community,

HHL has always been a place where individuals can tive experiences and profound learning also in a digital develop their fullest potential. But it is also a place which environment. many call home far away from home, where you meet friends, inspiring personalities and where – despite all the The first iteration of our triple hybrid approach allowed diversity amongst our student body, faculty and staff – us to enable all of our students to continue their studies people share a common mindset which is the foundation during the first lock-down. It also made it possible that we for our community, our HHL spirit. could start with on-campus teaching again in September. And I am sure, that also during the second closing of our This spirit has helped us to master the challenging devel- study locations since the beginning of November, we will opments of this year with an astounding level of resil- be able to continue to deliver world-class teaching, ser- ience. When we pulled the plug on on-campus teaching vice and research. on 12 March as one of the very first universities in Ger- many, we all hoped, but didn’t really know, that this deci- The HHL experience is much more than on-campus sion would not only be the best and safest one for the courses. During the pandemic we were reminded that health of our community, but that we could still manage to becoming part of a community, that lifelong networks provide high quality teaching and service to our students. and friendships are an even bigger part of our HHL value proposition. The journey itself, combined with the actual Within 24 hours we delivered the first 100 % online course learning is what constitutes the first steps into a lifelong and swiftly moved to digital services for our students and relationship with HHL. And in a time of digital learning, we aspirants. Since then, we have developed what we call aim to provide the possibilities to build and nurture these our “triple hybrid approach” to teaching. We learned that networks as well. doing online courses is a very different experience for all involved parties and that you need to approach online and I wish you all a safe and healthy time and invite you to hybrid courses with new methods. Through weekly align- share your stories with us for our next HHL News. Our HHL ments within the faculty, continued support through our News is a place to share updates about our community, digital learning experts, frequent benchmarks, trainings, inspire each other and to get impulses for our daily lives. feedback sessions, mistakes and successes we derived three dimensions in which we aim to excel in the future: Yours sincerely, we first need the right technology to support teaching, e. g.“ multimedia screens, high definition cameras and microphones and tech-enabled tools such as gamification This is a quote from this text and polling apps. We secondly have to adapt our syllabi­ toto reflectcreate the a lively different impression. formats which require another angle on structuring learning and we finally have to adapt Prof. Dr. Stephan Stubner our teaching styles to ensure lively discussions, interac- Dean of HHL

Table of Content

02 Editorial 03 Welcome to HHL 04 Academic Developments 05 Welcome Week 06 Entrepreneurship 08 Faculty Cooperations 10 Executive Education 12 Faculty & Research Imprint 19 HHL Alumni Association Publisher: HHL Leipzig Graduate School of Management, Jahnallee 59, 04109 Leipzig, Germany 20 Program Anniversary +49 341 9851-60 [email protected] @hhlnews #hhl www.hhl.de Contact HHL News: [email protected] Publication Date: November 2020 21 Alumni Offers ISSN: 1433-934X ISSN (online): 1867-8017 V.I.S.D.P.: Executive Management of HHL: Prof. Dr. Stephan Stubner, Dean of HHL, and Dr. Marcus Kölling, 22 Anniversaries and New Supervisory Board Member Chancellor of HHL Editor: Sigrid Fischer Photos: Michael Bader, Iona Dutz, 24 Event Calendar HHL, Daniel ­Reiche, Jens Schlüter, Jean-Marie Tronquet, Dominik Wolf Cover Images: Daniel Reiche Layout: Stefanie ­Bader Thank you to all contributors and proof readers of this edition. This edition of HHL News has been produced 100 % climate neutrally. www.hhl.de HHL NEWS FALL 2020 03

WELCOME TO HHL Hybrid Enrollment Ceremony for the Fall Term 2020

Record enrollment in times of coronavirus­

HHL was the first university to move they received an introduction into their completely to online teaching in March journey at HHL and followed the key- 2020 and was now the first university in note speech for this occasion. Thus, we Saxony to resume teaching on campus. reached a new milestone with the big- gest student intake ever. Enabled by the On 7 September 2020, we welcomed experiences made during the summer, our new students in the official enroll- students will have classes in a variety ment ceremony held at the HYPERION of formats, including presence, online hotel in Leipzig. Almost 200 students and with a special emphasis on hybrid joined in person or watched online as courses. Louise McKay, winner of the DAAD prize, with the Australian deputy ambassador Simon Clayton (right) and HHL’s Dean Prof. Dr. Stephan Stubner (left)

DAAD prize 2020 awarded to cellist Louise McKay

The DAAD prize honors outstanding “ international students or doctoral can- When my class enrolled for the didates who have distinguished them- MBA, I was quite worried that I’d selves both through special academic really have what it takes to turn my achievements and remarkable social or life around from being a classical Hybrid enrollment ceremony in early September 2020 intercultural commitment. This year’s musician into an MBA graduate. prize was awarded to Australian-born This award really means a lot Louise McKay, former professional cel- to me and I am grateful for the list turned MBA student, who thereby opportunities it provides New students welcomed Keynote by the ranks within the top 0.1 % of all interna- by the Dean Member of the Board, tional students across Germany. Louise McKay, M20 student Prof. Dr. Stephan Stubner Deutsche Bank

HHL’s Dean Prof. Dr. Stephan Stub- The keynote speech was held by Bernd Reaching 50 % female enrollment ner personally welcomed all new stu- Leukert, Chief Technology, Data and dents and guests to the start of a new Innovation Officer at Deutsche Bank. mark in current MBA class life chapter. In his speech, he reminded Focusing on the current economic crisis the students to strive for more than a and its effects on the students’ future, This year’s full-time MBA class is one to attract more female students to our prosperous career and financial ben- he stressed the importance of reacting of the largest intakes bringing 59 stu- various programs, we are also proud efits. “It is about developing your per- quickly to change in order to be suc- dents to HHL. It is also a very interna- to have 60 nations represented on our sonality, developing your network”, he cessful. He urged his listeners to use tional group, spanning 18 nationali- campus. This is just a snapshot and we emphasized. “I strongly believe that this data and appropriate algorithms to ties (excluding Germany), therefore will be working towards steadily increas- is what you can take out of your studies understand the company structure and ­providing the perfect opportunity to ing our diversity amongst our student at HHL.” customer needs. “There is one single experience the creative energy born out body as well as our members of staff. element that matters”, he believes, “and of different perspectives and mindsets. that is speed.” We are especially excited to welcome Further, HHL has set a new record with many future female leaders to this MBA 65 full-time students for the Master in program reaching a 50 % female enroll- Management program. In spite of the ment mark. pandemic, HHL has seen a sharp rise across all of its programs. The part-time Diversity at HHL has reached new levels Master in Management program wel- which is a result of the constant efforts comes 66 new students to its three loca- undertaken. Not only have we been able tions in Leipzig, Cologne and Munich.

“ “ “ HHL is a very personal busi- If people reinvent themselves As an international student, ness school. That means, we it does not mean that these I look forward to meeting the are small, we are individual. people are leaving their past, internationals from all over We are focused on premiere their characteristics, their the globe and to become learning experiences and that talents, their abilities behind. part of a diverse community we care for you – and your It is the foundation, the basis at HHL where we can create personal development. of shaping the future of new a future together and work ideas. together as a team. Prof. Dr. Stephan Stubner Dean of HHL Bernd Leukert Yin Shan Mao, MSc21 student Member of the Board, Deutsche Bank 04 HHL NEWS FALL 2020

ACADEMIC DEVELOPMENTS Launch of new Master in ­Management (M.Sc.) | Finance

Welcome Finance Track! “ With the arrival of the 2020 Fall Term, we warmly Engage in a like-minded and committed welcome our first generation of MSc Finance Track community willing to shape the future across all students. These 28 new members of the MSc family industries. Learn how to negotiate and navigate (13 full-time and 15 part-time) have chosen an innova- based on quantitative findings in a VUCA world. tive study program that sits at the crossroad of finance Prof. Dr. Alexander Lahmann, Professorship in M&A and strategic management.

We believe that combining strategic thinking and quantitative skills will create an exciting program of “ high practical relevance. Our program goes beyond imparting Corporate Finance tools to analyze business challenges: We educate future leaders in deducing responsible decisions and in entrepreneurial execution.

Dr. Maximilian Schreiter, Assistant Professor & Executive Director IFU

Our Finance Program … connects corporate finance … strengthens informed … builds entrepreneurial, expertise with management skills decision making responsible and effective leaders

Our Vision Building the continent’s most renowned corporate finance program

Curriculum Learn how to:

Make profound General Management Essentials FINANCE FOCUS THESIS Make optimal ­investment ­financing decisions ­decisions

Selected modules, e. g.: Write your thesis on _ Coding & Data Literacy Financial Decision Advanced Financial ­ Add-ons, practically relevant _ Negotiation Making Challenges e. g. topics or develop an Understand and Analyze & value _ Problem Solving & Communication academic paper evaluate capital business models structure choices Financial Analysis & Financial Instruments & Advanced Excel Modelling Asset Pricing Modelling Design Financial General Management Competencies Risk Management Structure efficient Capital Market Big Data Analytics Contracts and of Corporations portfolios Theory & Investments in Finance unravel their value impact _ Practical experience, e. g.: Corporate Advanced Corporate Case Study ­Seminar with student consulting projects, internships Finance & Taxation Finance Executives­

FINANCE PREP COURSES (ONLINE) FINANCE PREP COURSES Valuation & M&A _ International experience: Understand and Link financing & in- Study abroad at one of of 140+ partner Entrepreneurial Note: Select two of the price financial universities Economics of vestment decisions Finance & Venturing offered Add-Ons instruments for Finance managing risks

Use modern tools as big data & machine learning

Get involved Key facts First batch statistics

_ Recruit our students Who enrolls: young professionals with a bachelor in business-related _ Send your top talents ­subjects and the ambition to pursue a career in finance _ Propose co-teaching ideas Study options: full-time (ft) or part-time (pt) Duration: 21–24 (ft)/24–30 (pt) months (90 ECTS credit points) Degree: M.Sc. Language of instruction: English Option: study abroad Start: September Study location: Leipzig (ft/pt), Cologne (pt), Munich (pt) Application deadline: 20 June 2021 (Early bird deadline: 28 February 2021) Participants per class: 35–55 (ft)/15–25 (pt) Average age: 25 years Contact: Average work experience: 2.5 years Dana Prahl Tuition: EUR 29,500 (Early bird rate: EUR 27,000) 53 % Financial Industry Corporate Relations & Transfer 33 % Consulting [email protected] 14 % Corporate www.hhl.de HHL NEWS FALL 2020 05

WELCOME WEEK

Kicking off a new life chapter at HHL

The “Welcome Week” offers a dive into dents were split into small groups and Team rally takes students the #hhlspirit. Our students get to know the activities were spread out over mul- across campus classmates from all of our programs and tiple days. from all corners of the world, both virtu- The team rally is a special welcome in Leipzig. Guided by the questions ally and on-site. This community event The overall objective of the “Welcome event, where faculty and staff make the teams explore the department lays the foundation for a powerful net- Week” is to attune our new students time to answer the new students’ offices, collecting answers and navi- work that will support them not only into the highly diverse environment that questions. As a small business school, gating the university grounds. Some through their studies but far beyond. HHL is offering. In order to achieve that, HHL is a tight-knight community with questions encouraged the students we discussed what diversity means for short distances between offices and to make educated guesses, which This year’s “Welcome Week” was par- each individual. Further, we mixed our direct communication flow. The team often lead to interesting conversa- ticularly special as it was one of the first teams across the programs for students rally gives new students the oppor- tions with the staff and the adminis- chances for many to experience an in- get to know each as much as possible tunity to get to know their class- trative team. person event since the pandemic out- already at that point. During this week, mates as well as the main campus break. New students gathered in Leipzig they were also introduced to the Leipzig to tour the campus and explore the city. Leadership Model, HHL’s model for gen- In line with health regulations, the stu- eral management.

Voices from our class of 2020 “ “ The first weeks have been great, Starting at HHL has been a really especially the Welcome Week events exciting and fun experience. Even where we have started to develop though the current situation does our team spirit and got the chance not allow all events to take place, we Bike tour through to get to know the city of Leipzig. had great events organized and the I am thankful that HHL developed a chance to really get to know each Clara-Zetkin-Park hybrid model in these challenging other as fellow students. We as the A few days later, the fun continued share leader, the students gath- times and made it possible to meet my students are really grateful for the for all students enrolled. With sup- ered to go on a bike tour of the classmates in person. The MSc class 21 organization by HHL. The team spirit port from Nextbike, Europe’s bike Clara-Zetkin-Park. is shaped by smart, ambitious students that evolved within the past weeks and a supportive environment. HHL is amazing. In the third week into students inspire you to think out of the the program, everyone is working box and think about what you want to together as a team and helping achieve during the next two years, and each other out. A spirit that is really further. I am looking forward to work inspiring. [I am looking forward to] in a passionate, international class and many challenging and instructive conquer the upcoming challenges of courses with great personalities. Of lectures and case studies as a team – course, the nights with cold drinks it will make us all not only to grow and fun discussions will not come professionally but also personally. too short as well.

Sina Nöding, MSc21 student David Luxenhofer, MSc21 student 06 HHL NEWS FALL 2020

ENTREPRENEURSHIP HHL DIGITAL SPACE – Where entrepreneurs grow

Welcome to HHL DIGITAL SPACE Take-off, Market & Launch Days

Leipzig has a new player in its vibrant tion program developed by HHL. With Take-Off Days for Batch #1 started on the upcoming entrepreneurs will be the entrepreneurial ecosystem with the inspiring facilities on campus of HHL 10 September in the new facilities of the Launch Day at the HYPERION hotel in HHL DIGITAL SPACE tech incubator. enhanced by virtual offerings, the early- HHL DIGITAL SPACE. Leipzig on 8 December 2020. Thanks to the joint efforts of the HHL stage founders receive tailored support team, its supporters and alumni as on their entrepreneurial journey such as After five weeks the event called Mar- The teams will pitch their idea and well as the EXIST Potential Program consulting on the EXIST grant, a net- ket Day attracted mentors and sup- receive feedback from a jury and con- by the Federal Ministry of Econom- work of experts within HHL and from porters in a special hybrid format with nect with other entrepreneurs, investors ics and Energy (BMWi) the first batch the start-up ecosystem plus events and regards to COVID-19. The highlight for and partners. of 11 start-up teams kicked off in Sep- workshops with established companies tember 2020 with the 12-week incuba- and partners.

The DIGITAL SPACE team Dean Prof. Dr. Stephan Stubner giving a speech during the Market Day

The start-ups of our The 12-week incubation program first batch

Online marketplace with unique Instagram features for At its core, there is a structured and DIGITAL SPACE tech incubator, points is described in a “double-diamond” vendors free of charge 12-week incubation out: “We especially invite teams with that is divided into four sprints giving Cloud based, innovative program for early-stage founders a technical background in IT or engi- room for ideation and regular feed- SaaS platform for MS-Office with digital business models. Appli- neering as well as mixed teams of back loops to prepare the entrepre- automation cations for participants of Batch #2 buinsess and IT founders to apply.” neurs for realizing their idea. Effortless grill-experience ­starting in January 2021 are open until delivered to everyone 20 November 2020. During the intensive program, the start-ups concretize and validate their Reward program for independ- ent hotels helping small play- Everybody is welcome to apply, while business idea regarding the “problem- ers to survive and frequent Sophie Kuhl, Managing Director of the solution fit”. The structured approach travellers to experience a unique stay

A holistic approach enabling the vertical integration of large software systems for the insurance industry to further enhance ongoing digital trans- formation and automation

Technology platform to con- nect (local) retailers with con- sumers, unifying the advan- tages of both online shopping and traditional, stationary retail

Platform for second-hand bicy- cles and bicycle components for kids

First of its kind loyalty program for green and responsible shops and brands

Sonoday allows advertisers to bundle thousands of pod- casts into one strong voice and enables podcasts to get sponsorships

A platform to boost product sales and visibility on various e-commerce platforms

B2B platform focused on building meaningful con- nections between conscious brands and local businesses www.hhl.de HHL NEWS FALL 2020 07

ENTREPRENEURSHIP

Appointment of the Junior Professor Financial Times Global Masters in Strategic Entrepreneurship as part of ­Management Ranking 2020 EXIST project DIGITAL SPACE start-up HHL ranked TOP 25 worldwide

Coming from the strategy consult- demic background with several awards The new ranking by the Financial ing Boutique Stern Stewart & Co as a and scholarships enriched with practical Times, which assesses Master in Man- manager to HHL in 2018, Jun.-Prof. Dr. experience characterize his profile. agement programs from universities Dominik Kanbach first supported to around the globe, has awarded top drive forward HHL’s key strategy projects Being appointed Junior Professor for positions to the education offered that amongst others led to the success- Strategic Entrepreneurship in April at HHL Leipzig Graduate School of ful launch of DIGITAL SPACE with its tech 2020 and acting as Academic Lead for Management. incubator program. Initially as a Post- the DIGITAL SPACE, Dominik’s main Doc he developed and implemented new responsibilities are to transfer research HHL graduates were ranked 3rd in teaching formats like the course Disrup- results into practical startup support, to Europe and 7th worldwide for their sal- tive Technologies and Business Models develop contents of the 12-weeks incu- aries. HHL’s Career Service was also “ and established himself as an aspiring bation program and to drive the success ranked very high, achieving 7th place HHL was the best decision scholar through publications in acknowl- of the initiative together with Sophia worldwide. In the global ranking, I could make as it provided edged journals such as the Harvard Busi- Kuhl, Managing Director of the DIGITAL which includes a total of 90 universi- me with the tools for my nd ness Review. Overall, his strong aca- SPACE tech incubator. ties, HHL came in 2 in Germany and current position as a business 23rd worldwide, improving our posi- development specialist. With tion for the second time. its well-structured curriculum, a vast choice of student initiatives Investors Day International Study and its excellent Career Service, Trip – Excursion “ The HHL SpinLab Investors Day took We are delighted to see we HHL was a key factor for success place on 17 September 2020 and in to Poland improved our position in the in my personal development. a joint format SpinLab and HHL pre- latest Financial Times ranking The friendships I formed at the sented first class early-stage start-ups From 18–21 September 2020, 27 stu- even more. We are able to offer school continue to flourish. to investors while discussing industry dents from various HHL programs our students one of the world’s Richard Schramm, HHL alumnus trends with startups and VC experts. ­visited the WSH University in Business leading Master programs. Es- (Business Development Customer Center DIGITAL SPACE Managing Director in Wroclaw, Poland. During an inten- Porsche Leipzig GmbH) Sophia Kuhl moderated the Best of Mit- sive weekend in Wroclaw, students pecially in times of crisis, it is teldeutschland Award and Meshmerize were exposed to a blend of manage- important for young people to from Dresden won 1,500 € for their pitch rial and cultural insights. In addition to enjoy high-quality and widely “ granted by the Karl-Kolle-Stiftung. lectures by Prof. Dr. Tobias Dauth, Prof. respected education. Compa- HHL was the best choice for Dr. Alexander Lahmann and Jun.-Prof. nies have let us know that they me as it combines a great Dr. Dominik Kanbach let the students are thankful to be able to find education with tremendous work on a customized case study to get high-powered and responsible opportunities. Besides close a better understanding of the specific junior leaders here. Achieving ties to alumni, the university perspectives in the place of residence. top ranks once again confirms provides numerous chances to Moreover, guest speakers provided our approach and motivates us insights into the vibrant region of Cen- get in touch with prospective in our daily pursuit of excellence tral and Eastern Europe, especially of employers. Especially the group in instruction and research. the Polish start-up scene from a histori- projects with companies and cal perspective. For instance, Dr. Bar- Prof. Dr. Stephan Stubner, Dean of HHL the contact with top consulting tosz Gonczarek (co-founder of Explain firms through the HHL-Career Everything) explained specifics of start- The FT Global Masters in Manage- Service helped me on my way to ing a business in a growing economy. He ment Ranking 2020 is considered to a career in consulting. also highlighted the impact of cultural be one of the most comprehensive differences on start-ups and presented and significant of its kind internation- Benjamin Kühl, HHL alumnus (Consultant at McKinsey & Company) key takeaways for future entrepreneurs. ally for Master in Management pro- A city tour and evening events brought grams. The ranking combines data in some “Polish flavor” and success- from two surveys. One polls alumni We are proud of the work our HHL fully added to an exciting weekend for from the universities who graduated community has done to maintain a the HHL students. HHL Alumnus Artur three years ago. The other one uses world-class educational provision. Tomys (M8), CEO of EQUIQO, hosted the information provided by the univer- Thanks to your dedication and efforts group at his company’s facility. EQUIQO sities themselves, such as diversity of HHL again is ranked among the demonstrating great HHL spirit. the student body or internationality TOP 25 Business Schools worldwide! Establishment of of the programs. the Research Group ­Strategic Entrepreneur- ship with more than Coaching, mentoring and know-how 20 researchers from women for women on their way to their own businesses

Jun.-Prof. Dr. Dominik Kanbach and and the Free State of Saxony we are Voice of a participant: Prof. Dr. Stephan Stubner lead the new successfully organizing a female found- “For me the female founders class is a Research Group Strategic Entrepre- ers class. The class has a duration of real blessing. Especially in these uncer- neurship. In this research group, the Por- six months and includes workshops, tain times of COVID-19, I almost lost sche AG Chair of Strategic Management coaching and mentoring from women my courage in believing my foundation and Digital Entrepreneurship and the for women on their way to their own could succeed. The continuous support, Junior Professorship in Strategic Entre- business. Rossitza Ivanova, research the fun workshops and the broad net- preneurship join forces to add to HHL’s associate at the Chair of Innovation work is giving me an orientation struc- research excellence in the interface of Management and Entrepreneurship, is ture. I gained important knowledge Strategic Management and Entrepre- the new project leader since April 2020 about various methods and approaches neurship research. With already more and has implemented the founders’ around building my business. I am than 20 internal and external Ph.D. can- Since 2017 the SMILE project team at class as an online program. For detailed thankful for the connections to other didates the research group aims to sig- the Chair of Innovation Management information please visit our website: female entrepreneurs because this is a nificantly contribute to the academic and Entrepreneurship is accompanying versatile enrichment to all of us. Thanks discussion on international top-level young women on their way to become https://www.hhl.de/ to all this support, I now know not only and at the same time derive practical a founder. With the support of the Euro- experience/initiatives/ how I am going to start up, but also that applicable insights. pean Union, the European Social Fund female-founders-initiative/ I am going to start up!” 08 HHL NEWS FALL 2020

FACULTY COOPERATIONS

Student Consulting Projects 2020

No. Chair/Professorship Project Partner/Company Topic Student Consulting Personalized 1 Prof. Dr. Iris Hausladen DHL Leipzig “Optimization of digitalization approaches for the cross- Project with kicker ­therapies from functional controlling of the operations of the DHL Hub Leipzig GmbH” the 3D-printer – 2 Prof. Dr. Manfred Kirchgeorg DHL Leipzig In Spring Term 2020, the Chair ­students help with “DHL HUB LEIPZIG – als Arbeitgeber der ersten Wahl – of Accounting and Auditing sup- nachhaltig und attraktiv in der Region” business planning ported the probably most pop- 3 Prof. Dr. Manfred Kirchgeorg Gewandhaus Leipzig ular German sports magazine, “Was ist die Marke ‘Gewandhausorchester’ wert? – Entwicklung eines Markenbewertungsansatzes für ein internationales kicker, in its reorientation within The founding team NEXT3D of the Spitzenorchester” the scope of a student consult- Leipzig University Hospital pro- 4 Prof. Dr. Claudia Lehmann Dr. Oetker ing project. Especially in the year duces personalized 3D-printed “Idea- & Innovation-Program" of its 100th anniversary, kicker implants and instruments using 5 Prof. Dr. Claudia Lehmann L-Foren is more than ever challenged to patient-specific data. The aim is “Establishing a local ecosystem to create a sustainable think about the market environ- to provide patients with improved customer value in living” ment, the general development therapies. At the end of 2019 the 6 + 7 Jun.-Prof. Dr. Erik Maier VNG “Market Potential Assessment: Future Developments in Urban trends in sports reporting, the founding team was awarded the Development, Infrastructure and Housing” changed (also social) framework IQ Innovation Prize of Central 8 PD Dr. habil. Dorian Proksch EnviaM conditions as well as the future Germany. This year a team of HHL “Public WiFi as Enabler for Smart Cities” market positioning in a very emo- students from the MSc program 9 Prof. Dr. Stephan Stubner Porsche tional business like professional was asked to support the process “Sportscar Ranch” football. A team of six HHL Mas- of Business planning. Therefore 10 Prof. Dr. Andreas Suchanek PWC FS Tax ter’s students was able to accom- the students analyzed the mar- “Exploration of (options, opportunities and limits of) suitable pany those responsible for the ket for 3D-prints in the fields of metrics to measure trust(worthiness) in the context of tax and legal consulting on behalf of banks, insurance and investment kicker for part of the way. The stereotaxy and vascular surgery companies” results of this cooperation will be and developed commercializa- 11 Prof. Dr. Vivek Velamuri Schöck Bauteile visible in the future. tion strategies. “Especially for “Augmented reality on the construction site” small companies with very lim- 12 Prof. Dr. Arnis Vilks everphone ited financial resources, the stu- “Digitizing the non-desk work force – productivity increase dent consulting projects offer the through mobile devices and apps in the hotel industry” opportunity to work on an urgent 13 Prof. Dr. Wilhelm Althammer Aicura Medical (Spinlab) “Market strategy for healthcare AI platform” problem at high level”, says Prof. Dr. Bernhard Schwetzler from the 14 Prof. Dr. Bernhard Schwetzler Uniklinikum Leipzig (Neurosurgery) “3D-printing for personalized medicine” (business cases) Chair of Financial management, who supervised the project. 15 Prof. Dr. Henning Zülch Kicker “Der ‘kicker’ als B2B-Marke” 16 Prof. Dr. La Mura HDT “Understand the data and needed structure leading to the identification and steering of the success drivers in the recruiting and headhunting industry” 17 Prof. Dr. Vivek Velamuri Suncoal “Development of sustainable rubber goods”

Student Consulting Student Consulting Student Consulting­ Wanted: Partners for Project of HHL and Project with ­Project with the Student Consulting VNG shows: Around the DHL Hub Leipzig Gewandhaus Projects

60 % of East German Leipzig Orchestra An important element of study- municipalities ex- ing at HHL are the “field­projects”, A group of HHL students con- The project with the world- pect corona ­effects student consulting projects super- ducted a study for the DHL renowned Leipzig Gewandhaus vised by a Chair. Students run for years to come Hub in Leipzig with a focus on Orchestra, which was supervised these projects independently employer branding on a qualita- by Prof. Dr. Manfred Kirchgeorg’s while receiving coaching from a 83 percent of East German tive as well as quantitative basis. Chair of Marketing, revolved respective Chair. Many well-known municipalities expect lower tax In a first step, the student team around the question of what large corporations, medium-sized revenues as a result of the corona interviewed internal and exter- value cultural institutions, such as companies and start-ups have crisis. In contrast, 39 percent nal stakeholders of the DHL Hub the Gewandhaus Orchestra, can already benefited from the results see accelerated digitization as a Leipzig in order to identify central develop in their target group. Up of HHL’s student consulting pro- jects. This cooperation format is positive effect of the pandemic- drivers of a successful employer to now, so-called brand valua- offered to companies that look for related crisis. This is the result of branding campaign. In a second tion approaches have rarely been fresh ideas, profound research and a student consulting project car- step, the student team imple- applied to cultural institutions. sound solutions to current man- ried out by HHL, supervised by mented a structured survey in However, brands are known to have agement challenges. Project top- Jun.-Prof. Dr. Erik Maier’s Chair order to derive recommendations a huge magnetic effect on cus- ics can be derived from all busi- of Retail and Multi-Channel Man- for the areas of employer brand- tomers and thus, play a crucial role ness areas, e.g. strategy, finance, agement, and VNG AG, a holding ing, recruitment, development for the successful maintainance of marketing, business development, of multiple energy-related busi- and talent management as well companies but also cultural insti- HR, logistics etc. For three to six nesses headquartered in Leipzig. as retention management for the tutions. Within the scope of the months teams of four to six stu- In the framework of the project a DHL Hub Leipzig management field project, the use of brand val- dents work in the role of manage- team of four students conducted team. uation approaches was examined ment consultants under the sci- entific guidance of a faculty chair. in-depths interviews with rep- in order to gain long-term indica- Next projects will start in mid- resentatives of 36 East German tions for the successful orientation March 2021. Companies interested municipalities. and communication of the Leipzig in participating are welcome to Gewandhaus Orchestra. contact HHL:

Kathrin Schmidt Manager Employer Relations | Dept. Career Development T +49 341 9851-882 [email protected] We Empower Leaders HHL prepares you to be successful in a constantly changing world.

Company-specific programs in: _ Strategy & Scenario Planning _ Digitization, IT & Innovation _ Finance _ Leadership & Communication

Open-enrollment ­programs: _ Management & IT _ Merger Integration Management _ General Management Program _ Company Succession

Contact: Jana Näther State-of-the-art education­ +49 341 9851-838 [email protected] for managers­

Excellent lecturers with an impact-oriented approach­ ECTS credits transferable­ Networking with to our MBA successful leaders­ program­

HHL Leipzig Graduate School of Management Jahnallee 59, 04109 Leipzig, Germany, +49 341 9851-838, www.hhl.de/executive 10 HHL NEWS FALL 2020

EXECUTIVE EDUCATION

Successful completion of the 1st edition of the Merger Integration Management Program

In September 2020, the first class of to successfully manage the complexity the Merger Integration Management and dynamics of M&A integration pro- Program (MIM) ended very success- jects and how to realize merger poten- fully. The participants were very satis- tials. The program concluded with the fied with the joint program of HHL and certificate “Merger Integration Profes- the frankfurter gruppe, with the per- sional (HHL)”. The next cohort starts on sonal exchange they could experience 25 February, 2021. with lecturers and participants and the professional experience of the course “ “ at HHL. The participants learned how www.hhl.de/merger-integration The program of HHL and What is unique about the frankfurter gruppe is not program is the combination only unique in the German- of theory and practice, the speaking world, but also transfer of knowledge from great. The energy, know-how HHL and frankfurter gruppe. and power in the seminar The breadth of topics bundles room with other experienced holistically issues that arise colleagues is enriching. The in every days life of one lecturers get to the heart of working on integration. the matter. I liked the discussion with the participants who came from Rico Hänel Managing Director, various companies and with be-terna GmbH different questions. From the beginning, the setup of 3 x 3 days made it possible to proof in practice what had been learned and to take the resulting questions into the next session.

Anke Dewitz-Grube Director Bosch Inhouse Consulting, Robert Bosch GmbH Participants of the 1st MIM Program

General Management Program with largest intake ever

The 16th edition of the General Man- This year, HHL Executive Education one’s own repertoire, and to convey agement Program (GMP) started with offered a new female scholarship for scientifically sound as well as prac- the largest intake ever. In six modules, this program and was delighted to tice-relevant knowledge to fill the 16 participants from various indus- promote four successful women to leadership role as best as possible.” tries and sectors gain state-of-the- the GMP. art knowledge on flexible strategies Lea Waskowiak adds: “Since in times of uncertainty, problem solv- Nina Kilian, Director Controlling of I work in corporate communica- ing, marketing in the digital world, Deutsche Rückversicherung AG, one tions, I would like to use the GMP to leadership, value-based management of the scholarship holders said: “The deepen my existing management and strategic innovation and thereby General Management Program offers knowledge, but above all to specifi- expanding their management and excellent opportunities to deepen cally close gaps, e. g. in the area of leadership skills. Many participants management competencies in the financial management. In addition, value the fact that the modules can light of our dynamic and fast-moving I would like to broaden my horizons. “ be credited to the HHL Part Time MBA times, to build a long-term network The GMP Women’s Scholarship is The lecturers cleverly Program. for the continuous development of the ideal starting point for this and offers me the opportunity to learn combine teaching content from and with other women.” with self-development of working techniques in the More about the GMP please see here: group. I’ve gained valuable experience and loads of www.hhl.de/gmp inspiration. Thanks for that!

Dr. Christian Mayer Head of Compliance, thyssengroup Steel Europe AG www.hhl.de HHL NEWS FALL 2020 11

EXECUTIVE EDUCATION HHL offers new Executive Education “ ­certificate program Management & IT The HHL Executive programs are designed to deliver relevant and In the course of digitization, companies online teaching to ensure compatibility impact-oriented executive skills. are in strong need of qualified specialists with job obligations. I invite you to take advantage who have competencies in the fields of of our wide range of programs management and IT as it is the only way HHL works with renowned partners to and seminars for your personal to take full advantage of the opportuni- convey the program content. The lec- ties associated with the digital transition. turers come from HHL, the Institute for development. Applied Computer Science at the Uni- Prof. Dr. Tobias Dauth In this 10-month certificate program, versity of Leipzig (InFAI) and the Berlin Academic Director Executive Education participants will quickly gain up-to-date start-up scene. knowledge and develop necessary skills in the fields of management and IT in Management & IT is open to all candi- order to work at that interface. dates that are either working or would Upcoming Executive like to work at the interface between Participants will work on real business Management and IT or dealing with IT- Programs and Seminars cases for all modules in order to apply related management projects. the core elements of the digital business All our scheduled programs and seminars will either in a practical manner. The part-time pro- At the end of the program, graduates take place face-to-face or in a hybrid format. gram combines on-campus phases and will receive a HHL university certificate. 25 February–19 June 2021 | Leipzig Merger Integration Management For executives and project managers who are responsible for the successful planning and realization Hot of the press: brandnew certificate of merger integration projects program for company succession www.hhl.de/merger-integration 24–25 March 2021 | Hamburg University of Münster and HHL cooperate on initiative Purpose Seminar – Lead Effectively with Purpose of IHK North Westphalia For senior leaders who want to hone their purpose for themselves and their organization On 6 October 2020, the deans of com- sors for their new role, enable senior www.hhl.de/purpose pany sucession HHL Leipzig Graduate entrepreneurs to plan and control the School of Management (HHL), Prof. Dr. process at an early stage and help to 26 March 2021 | Leipzig Stephan Stubner, and the Westphalian determine the value of the company. Corporate Valuation Wilhelms University (WWU) of Mün- We are happy to make this contribution For business owners, board members, managing ster, Prof. Dr. Johannes Wessels, signed to ensure that companies are preserved directors, executives, auditors and consultants a cooperation agreement for the new for the future.” who want to learn more about corporate valuation certificate program “Company Succes- methods used in business practice sion – Succession Management in times The compact certificate program for the www.hhl.de/unternehmensbewertung of digital transformation” at the educa- holistic structuring of company succes- tion center of IHK North Westphalia. The sion prepares successors for the upcom- 15–16 April 2021 | Leipzig aim of the new program is to prepare ing changes, for their new tasks and Leadership Communication Seminar successors for the upcoming change supports companies on the path to a For participants who want to sharpen their of leadership in the company and at successful handover. In interactive semi- understanding for convincing and successful the same time to provide them with the nar concepts, participants not only learn leadership communication tools for the digital transformation of the basics on the topics of succession www.hhl.de/fuehrungskommunikation their companies. management, family governance, cor- porate management and digital trans- 22 April–17 December 2021 | Leipzig In the IHK district North Westphalia formation in medium-sized companies, Management & IT alone, which covers the Münsterland but apply them to their own companies For graduates and career changers who want to and Emscher-Lippe regions, around together with the other participants. The deepen their knowledge and develop necessary skills 35,000 companies are due to be content on the subject area of “Manage- in the fields of management and IT handed over within the next ten years. ment” is conducted by HHL, the subject www.hhl.de/management-it Prof. Dr. Stephan Stubner explains: area of “Digitization” by WWU. The cer- “Handing over a company, that is often tificate program extends to 15 program 20–21 May 2021 | Leipzig the lifetime achievement of a person, is days over a period of almost six months. Negotiation Seminar a special challenge. We are pleased that It can be done individually or in tandem For participants who want to improve their ability to HHL, with its expertise in management, (successor + entrepreneur). The pro- master negotiations of any kind is able to support entrepreneurs in this gram is scheduled to start next summer www.hhl.de/negotiation process. We prepare potential succes- at the IHK education center. 6 May–8 November 2021 | Leipzig/Madrid Leadership for Experts in Medicine and Health Care For physicians and (prospective) managers from various healthcare sectors who want to deepen their management and leadership skills www.hhl.de/lmh

4 June–27 November 2021 | Münster Company Succession For potential business successors and (senior) entrepreneurs of small and medium-sized companies in North Rhine Westphalia who want to successfully manage the succession within their company www.hhl.de/unternehmensnachfolge

19 September 2021–5 February 2022 | Leipzig General Management Program For managers and senior leaders who want to deepen their management and leadership knowledge www.hhl.de/gmp

Signing of the cooperation. fltr: Dr. Fritz Jaeckel (MD IHK North Westphalia), Prof. Dr. Stephan Stubner (Dean of HHL), Prof. Dr. Johannes Wessels (Dean at WWU Münster) 12 HHL NEWS FALL 2020

FACULTY & RESEARCH

Chair of Accounting and Auditing 2020: Capital market communication in Germany is required – the pandemic forces us to rethink

The Chair of Accounting and ­Auditing companies’ crisis management (meas- Deutsche Telekom, as the winner of this at HHL Leipzig Graduate School of Man- ures, communication, risk management, year’s competition and Investors’ Dar- agement, in cooperation with man- etc.). ling 2020, is currently overperforming ager magazin and Bankhaus Metzler, these expectations for transparent, sus- awarded the Investors’ Darling – the best The trend towards sustainability is tainable and digital financial communi- capital market strategist of the year – stronger than ever. In this context, SAP cation and is setting a best practice on for the seventh time on 17 September SE was identified as a best practice the German capital market in terms of 2020 in Hamburg. Capital market com- company in the competition, which is financial communication. munication is facing three decisive chal- very successful in understanding sus- lenges in the coming years, which can tainability as an integral part of its own be expressed in three key factors: trans- business model. https://live.manager-magazin. Prof. Dr. Henning Zülch, holder of the Chair of parency, sustainability and digitization. de/investorsdarling2020/ Accounting and Auditing at HHL Successful and credible companies will In the future, digital communication have to be measured against these three will become a comparative competitive terms in the future, particularly in terms advantage: The quality of digital com- of their communications. munication expressed in the presenta- Aktuelle Herausforderungen tion and availability of decision-relevant Die Transformation der Kapitalmarktkommunikation hat drei wesentliche Treiber Transparency in financial reporting is company information on the compa- more important than ever due to the ny’s website varies greatly on the Ger- ongoing corona pandemic. Especially man capital market, depending on index Die Corona-Pandemie und ihre in these times, crisis communication is membership. The companies listed on 1 Auswirkungen auf das Unternehmen becoming a critical success factor on the DAX have a lead here over the com- the capital market. How German listed panies listed on the MDAX and SDAX. firms are performing in their Corona In addition, too few companies in all Nachhaltigkeitsaspekte (ESG) in crisis communication has been deter- indices make use of the opportunity to 2 Reporting und Investor Relations mined in a “Corona Score” analysis, spe- channel their financial information via cially developed for the Investors’ Dar- social media. Consequently, the German ling 2020 competition. This takes into capital market is not yet fit for the digi- Die Digitalisierung in der account both the companies’ communi- talization trend in capital market com- 3 Kapitalmarktkommunikation cation (through reporting and investor munication. Companies need to invest relations) and the analysts’ view of the here.

Trends in corporate reporting, The German Bundesliga clubs and ­communications and perception their future: An outlook on the at the capital market ­robustness of the clubs in times of COVID-19 (The HHL Bundesliga Study)

The Chair of Accounting and Auditing the capital market within their (cumu- In cooperation with Odgers Berndt- at HHL Leipzig Graduate School of Man- lative) doctoral or post-doctoral stud- son, HHL Leipzig Graduate School of agement and the Chair of Communica- ies. During the one-day workshop, par- Management has conducted an anal- tions Management at the University of ticipants had the opportunity to present ysis of the robustness of clubs in the Leipzig invited to the 6th RIC Confer- and discuss current research projects 1st and 2nd Bundesliga on the basis of ence on “Trends in Corporate Reporting, in a constructive atmosphere. Further- publicly available data on the market. Communications and Perception at the more, the event helped to stimulate the The study was published on 12 May Capital Market” on 10 September 2020 ongoing exchange between the par- 2020 and was able to stimulate the at HHL. The aim of the one-day work- ticipants and to promote the constitu- existing discussion in this field. shop was to promote scientific research tion of long-term research networks on the frontiers between accounting, and research cooperations. At the same According to this study, five clubs tively) good financial condition over- finance, and communication sciences. time, the cooperation between HHL and had to be classified as flagged: Three all. From a financial perspective, it is The workshop was primarily aimed at the University of Leipzig in the field of clubs from the first division and two the most solid league in Europe. doctoral and post-doctoral students financial market communication could clubs from the second division. The who are working on topics of commu- be further intensified. deficits are specifically due to ques- But: In the future, the league’s cred- nication and information processing at tionable indicators in the areas of ibility must be enhanced through liquidity and/or solvency. In addition, increased transparency. The German seven more clubs in the second divi- Bundesliga can emerge stronger sion need to be reformed in the long from the crisis thanks to its insti- term. The professional clubs show a tutional set-up and its fundamen- need for professionalization, espe- tal data, provided that appropri- cially in the areas of finance, manage- ate reform measures are taken. The ment, and youth player development. future actions of the clubs should Remarkably, the Bundesliga, espe- be effective, innovative, transparent, cially the first division, has the most and responsible, and should follow a diversified revenue mix compared clearly defined club purpose. to the top leagues from Spain, Eng- land, Italy and France. This means: the dependence on TV contract rev- https://www.hhl.de/ enues is not yet as pronounced as in app/uploads/2020/07/ the other European top leagues. Per- Executive-Summary- sonnel expenses are also the lowest The-German-Bundes in a European comparison. The Bun- liga-Clubs-and-Their-Future. desliga is therefore in a (compara- pdf

Seminar participants from the University of Leipzig (Communication Management) and HHL (Chair of Accounting and Auditing) www.hhl.de HHL NEWS FALL 2020 13

FACULTY & RESEARCH

Chair of Business Psychology and Leadership Fifth anniversary: New Leipzig Talents moves ahead

Every year in November, about 20 newly coachee for more over six month, are the program, and for the first time an NLT coordinator at the Dr. Arend Oet- enrolled MSc and MBA students join the well-chosen professional coaches and NLT alumnus has become a coach him- ker Chair of Business Psychology and New Leipzig Talents coaching program, coaching experienced personalities self. Ron Gabay studied design and Leadership. nicknamed NLT. With individual coach- from business, culture and society, such holds an MBA from HHL where he has ing sessions and group workshops, it as from RB Leipzig, the gallery for con- been an NLT coachee in 2016–2017. In 2020 there was yet another reason to opens up opportunities to broaden stu- temporary art GfZK, a Zurich advertis- Today he is Head of Innovation and Ven- celebrate: New Leipzig Talents started dents’ perspectives and personal skills. ing agency and XING. They have been ture Design at Joy Ventures in Tel Aviv. cooperating with the BMW Group Plant committed to supporting HHL students Looking ahead, New Leipzig Talents Leipzig as a new partner. “We are proud Throughout the coaching period stu- on a voluntary basis for many years now. aims to involve more NLT alumni in sup- and thankful that in BMW we have a dents also intensively reflect on what Meanwhile, the number of coaches, who porting young students at HHL. “This partner on campus for whom regional the Leipzig Leadership Model means for support young personalities at HHL in way New Leipzig Talents can contribute integration and a leadership oriented their own path with regard to leadership the spirit of the New Leipzig Talents to connecting academic generations towards the common good is visibly an oriented to the common good and key approach, continues to grow. and offer NLT alumni the opportunity to important concern”, says Prof. Dr. Timo professional competencies such as soci- gain experience as a coach themselves, Meynhardt who supervises NLT together etal mindfulness, entrepreneurial spirit, On the occasion of its fifth anniversary an ability which is becoming increas- with Martina Beermann, Director Career earning trustworthiness and self-reflec- NLT has good reason to celebrate: Over ingly important in professional life”, Development. tion. NLT coaches, who accompany the 80 students have already gone through comments Christina Stockmann-Zipfel,

Public Value Atlas Leipzig Paving new ways in teaching:

The Public Value Atlas examines organ- such a local setting, specifics of Leipzig Responsible entrepreneurship izations’ contribution to the Common or to the ongoing corona crisis. When for the common good Good. It has been conducted both in asked about the effects of the corona Switzerland and in Germany. In 2020, crisis, 60 out of 100 respondents said the world’s first Public Value Atlas on a that the common good had gained in Sixteen students from HHL, fifteen and pupils centered around issues like city level has been conducted in Leipzig. importance for them as a result of the teenagers (between 14 and 16 years) how to measure a start-up’s public value, But why here? Leipzig is one of the most corona crisis. All of them emphasize from three schools in Leipzig, Dresden how to transform HR policies or pub- dynamic cities in Germany. For centu- that companies must pay more atten- and Sebnitz, two start-ups, two guest lic value-oriented innovation. While the ries, civic and entrepreneurial thinking tion to morals. As Prof. Dr. Timo Mey- speakers and almost countless ideas students’ professional skills and expe- for the common good have shaped the nhardt sums it up: “The city’s current came together in the brand-new semi- rience facilitated access to the seminar, city’s mentality. growth dynamic is also reflected in the nar “Responsible Entrepreneurship for the pupils enriched the group works Public Value Atlas. The basic optimism the Common Good”, kindly supported with a new, sometimes more unbiased Consequently, Leipzig has international of Leipzig’s population is a pound with by the Peter Curtius foundation. The perspective. In addition to the compre- standing regarding innovative develop- which to grow. The future of all players overall aim: Discussing day2day impli- hensive appreciation and joy about the ments in business, culture, education in the city will depend decisively on how cations of a public value-oriented busi- results achieved, all partners declared and sports. they demonstrate their relevance to ness models for real start-ups. The chal- themselves willing to participate in the the common good on the ground and, lenges were posed by “besser zuhause” seminar again in the upcoming academic As in the previous surveys at the federal in particular, how they get involved in and MOIO, two winners of the EY Public year. “It is amazing to see how students level, the frontrunners consist of public their core tasks for the benefit of Leip- Value Award for start-ups. take care of the ‘younger brothers and institutions and associations. On aver- zig. There is no right to neglect the com- sisters’ and how the latter are able to age, Leipzig’s citizens rate their organi- mon good. Only together can we grow The kick-off event for the seminar took contribute to an academic seminar. A key zations significantly higher than the fed- meaningfully.” place in Winter 2020 at HHL’s premises, insight: teaching is to provide a challeng- eral population. This could be attributed the actual seminar took place in Summer ing context, to empower and to trust in to the higher subjective proximity in www.gemeinwohlatlas.de via MS Teams. The discussions in the ple- young people”, says Prof. Dr. Timo Meyn- nary or the six mixed groups of students hardt, co-lecturer of this seminar.

Chair of Digital Innovation and Service Industries Science meets practice: LF Group sponsors new Professorship for digital innovation in service industries at HHL

HHL established a new professorship growth and provision of digitally ena- cess towards digitalization and how they and is proud to announce that Prof. Dr. bled services and business models. can be taken along the journey”, Prof. Claudia Lehmann has accepted her first Dr. Claudia Lehmann says. professorship for digital innovation in The transfer of research results into service industries. As HHL’s first pro- practice is of particular importance: The application and training of agile fessorship in this field, the objective of The professorship is intended to help management tools, the development the “LF Group Professorship for Digi- German companies in the service sec- of digital competencies and the net- tal Innovation in Service Industries” is tor to discover and use digitization for worked collaboration of diverse teams “ to develop methods and tools for the themselves. It will thus form an impor- are at the center of her teaching meth- Our goal is to develop tant interface between research and ods. Asking Prof. Dr. Claudia Lehmann services that would not practice. what is essential when it comes to col- have been conceivable laboration with companies and organi- without new technologies. “Digitalization is changing markets and zations, she states: “From my point of customer needs and competition is view interactive communication across Prof. Dr. Claudia Lehmann becoming fiercer – especially for Ger- diverse disciplines and backgrounds is man small and medium sized compa- the key to form innovation competence gram which involves employees, across nies. Our goal is to develop services that for service engineering.” the globe, and various idea channels would not have been conceivably with- in the innovation process to prioritize, out new technologies. And we are going Prof. Dr. Claudia Lehmann and her team select and implement innovation in a one step further: we are also creating the are working on different projects with more sustainable way. Signing the contract for the LF Group Professor- appropriate business models for these over 33 companies. In one of the latest ship for digital innovation in service industries: new services. I am particularly interested projects with Dr. Oetker, a student team For more information please follow: Markus Rosenbaum (Managing Director LF Group), Prof. Dr. Stephan Stubner (Dean at HHL), in the question of how employees can be created together with Prof. Dr. Claudia Dr. Marcus Kölling (Chancellor at HHL) integrated into the transformation pro- Lehmann an idea and innovation pro- www.hhl.de/blog/ 14 HHL NEWS FALL 2020

FACULTY & RESEARCH

Chair of Economics and Business Ethics Chair of International Management News from the research frontier LimnoPlast: Microplastics in Europe’s of the Ethics Chair freshwater ecosystems

The last years and, especially, months tion; it helps to build up and maintain Even if plastic is an essential part of our “LimnoPlast Project: Microplastics in have been a time that offers lots of a trust relationship as a foundation for everyday life, its unsustainable use, inad- Europe’s freshwater ecosystems” gives opportunities to deepen ethical insights. sustainable value creation. But if respect equate disposal and massive accumu- a fundamental contribution to the tran- Here is the latest one from the Dr. Wer- is only shown for strategic reasons – lation in the environment result today sition of Europe to a circular economy ner Jackstädt Chair of Business Ethics: something people are quick to real- in an emerging risk to biota, economy on multiple levels (industry, policy, pub- respect is a factor of production which ize – it undermines that same intention, and society. Plastic may also be pro- lic). By providing scientific evidence of works only if it is not practiced as a namely to use respect only as a means duced as or degrade to tiny particles MP risks, analysing their cost-benefit, means for this end, that is, if it is prac- for another end. Only if respect is prac- called “microplastics” (MP), which have promoting legal intervention options ticed as a value in itself. Everyone wants ticed – even as a routine – as a value in already been detected in the marine and designing new communication to get respected, to get recognized as itself, it becomes credible. To put it as environment on a global scale. Given strategies, the LimnoPlast contributors a human being having dignity. It makes a paradox: There is a business case for that the largest portion of plastic pol- will tackle together the issue of freshwa- you feel better, more motivated and respect which works when respect isn’t lution in the sea is due to land-based ter MP and promote a new approach to inclined to contribute – which is good practiced for that reason. activities, freshwater environment has the plastics challenge. for productive and trustful collabora- been recognized as a relevant emission pathway in this context and researchers This project has received funding from have only recently started investigating the European Union’s Horizon 2020 their role and status worldwide. research and innovation programme Thanks to its international research net- under the Marie Skłodowska-Curie New Research Assistant work and a transdisciplinary approach, grant agreement No 860720. Felix Wittke

Chair of Strategic Management and Digital Entrepreneurship Hybrid Doctoral Day of new Research Group Strategic Entrepreneurship at HHL

On 9 October 2020, the new Research to a successful and beneficial event for Group Strategic Entrepreneurship every participant. invited for the second time this year to a Doctoral Day on the latest devel- Prof. Dr. Andreas König (University of opments in research on strategic man- Passau), editor of the Strategic Entre- Felix Wittke started working as a cally explained as the central, nec- agement and entrepreneurship. Prof. preneurship Journal and long-time research assistant at the Dr. Wer- essary condition for trust in teams Dr. Stephan Stubner and Jun.-Prof. partner of the Porsche AG Chair of Stra- ner Jackstädt Chair of Business Eth- and long-term team performance, Dr. Dominik Kanbach as well as 24 PhD tegic Management and Digital Entrepre- ics in September 2020. Together and thus should become the pri- students of the Research Group came neurship, invited our Research Group to with Prof. Dr. Andreas Suchanek he mary focus of team reflection. The together discussing their research pro- the online session “Meet the Editor” in is researching the topic of leader- ethical compass for good leadership jects and methods in a constructive the afternoon. He provided interesting ship and trust in virtual teams and is used as a team reflection tool to atmosphere. Thereby, they have gained information about the submission and supports virtual lectures. Felix is clarify the meaning and implications insightful feedback from each other publication in A Journals. All partici- also a PhD student in the Doctoral of the golden rule in concrete, spe- and have networked together leading pants enjoyed this insightful session. Program “Ethics and Responsi- cific team contexts. After all, from ble Leadership” at the Wittenberg the perspective of business ethics, Center for Global Ethics (WCGE) the Golden Rule should be the yard- and is doing his PhD at HHL super- stick by which “good” team reflec- Chair of IT-based Logistics vised by Prof. Dr. Suchanek on the tion and “good” team performance topic Team Reflection on the Golden are measured, i. e. not causing ille- Update on our most recent activities Rule. The golden rule is systemati- gitimate harm. Referring to the HHL Blog of Prof. Dr. Iris with Paul Brzesina from thyssenkrupp Hausladen on 19 May 2020: “Giving an Marine Systems online lecture is one thing. But hosting _ July – Value Chain Management (M20) a course based on a case study with an and a DHL case study supported by external partner can post a whole new Peter Tinning and Nemanja Dordic challenge.” So our endeavors in recent from DHL side months have mainly focused on further _ May – Logistics (M20) and guest developing our online and hybrid teach- speaker Michael Borowski from ing concept. As it is now, we are quite LOGSOL glad to have successfully taken the first _ April to June – DHL Field Project in col- obstacles and to continue with a theory- laboration with the DHL air fright hub practice transfer driven and supported Leipzig and a stunning digital work- by guest speakers and case studies flow – as site visits were not possible together with practitioners. _ March to April – Value Chain Manage- ment (MSc20) including a case study The listed events below were all success- with the McKinsey consultants Maxi- His golden fully held as hybrid or online events, with milian Schosser and Thomas Dorsch a largely positive student’s feedback: _ March – Project and Business Process rule: Management (MSc20) with the guest _ October – Value Chain Management lecturer Paul Brzesina from thyssenk- “ (PMSc10) with a case study together rupp Marine Systems Invest in the conditions of social cooperation for mutual advantage. Research

Prof. Dr. Andreas Suchanek, Since April 2020 – from the beginning tik im ländlichen Raum). AuLoRa set its holder of the Chair of Economics and on – the Heinz Nixdorf Chair of IT-based focus on the development of autono- Business Ethics at HHL Logistics is founding member of the mous logistics systems and new means ZIM network AuLoRa (Autonome Logis- of transport especially in rural areas. www.hhl.de HHL NEWS FALL 2020 15

FACULTY & RESEARCH

Chair of Financial Management Private equity funds are forced to Private equity as asset class for ­adjust value enhancement plans of their institutional investors and family ­portfolios due to the COVID-19 pandemic offices in Germany

In a comprehensive study, the CCTPE _ The most important selection cri- in partnership with BVK (Bundes- teria for funds are the quality and verband Deutscher Kapitalbeteili- experience of the management, gungsgesellschaften) analyzed the the track record, a transparent investment behavior and strategies investment strategy and a stable of German investors regarding pri- organization. vate equity investments. Investors _ For most investors an existing ESG with assets under management of policy is fundamental when choos- over € 700 billion participated in ing a private equity fund to invest the survey, including pension funds, in. insurance companies and family _ Most investors are highly satis- offices. fied with their private equity port- folios. Nine out of ten respond- The study covers various aspects of ents are either satisfied or even their investment behavior as well as very satisfied with the achieved their intentions behind the private performance. equity investments with main find- ings as follows: Prof. Dr. Bernhard Schwetzler, the CCTPE academic director and holder _ 80 % of the respondents have of the Chair of Financial Manage- Prof. Dr. Bernhard Schwetzler, holder of the Chair of Financial Management at HHL invested in private equity for over ment at HHL summarizes the results ten years, over one-third even for of the study as follows: “There are In a joint study, the Centre for Corpo- will need more support in liquidity man- more than 20 years. In the ven- two outstanding results: Firstly, all rate Transactions and Private Equity agement in the long term, as 50 % of the ture capital segment every fifth who have already been engaged in (CCTPE) at HHL Leipzig and one of its PE funds believe that the crisis will have respondent has invested for at private equity are very satisfied with sponsors, the management consultancy a long-term negative impact on the least 20 years, over a third has their investment and partly even Andersch FTI, examine the effects of liquidity of their portfolio firms. been engaged in that area for less want to expand the share of private COVID-19 on Private Equity (PE) portfo- than ten years. equity in their portfolio. The sec- lio companies. The COVID-19 crisis forces the PE com- _ Main motives for the private equity ond result came kind of surprising, panies to adjust the existing value engagements include the return at least for me. Namely, 57 % of the In early April 2020, the CCTPE and enhancement plans of their portfolio profile, the diversification of their respondents stated that ESG, hence Andersch FTI organized an online sem- firms in the future. 87 % of the survey own portfolios and individual pos- ecological and social standards, have inar with private equity experts on the participants have initiated operational itive experiences with the asset an outright salient significance for impact of the C-19 crisis on the private measures to secure liquidity at their class. their investment decision.” equity industry. Dr. Benjamin Hammer companies. Of these, 85 % are actively _ Eight out of ten investors indi- and Silke Pettkus from the CCTPE have reviewing planned investments, 74 % cated that they had expanded the taken this opportunity to examine the have implemented budget cuts and share of their private equity invest- The full study in German is published topic scientifically together with Paul almost two-thirds (63 %) have actively ments since 2016 or included pri- on: Dreismann (MSc19). Thanks to the sup- optimized their working capital. Overall, vate equity in their portfolios for port of Andersch, the team was able to almost all companies (96 %) that have the first time. work out a practical catalogue of rele- taken operational measures are satisfied _ Private equity investments are https://www.bvkap.de/ vant questions. The responses of a total with their success. more frequently made abroad than events-medien/veroffent of 32 PE funds based in the DACH region in Germany. Thereby, buy-outs lichungen/studien/private- were evaluated regarding their current Furthermore, four out of five funds (small/mid cap and large) and sec- equity-als-anlageklasse- situation in the corona crisis and led to reported (84 %) that their portfolio ondary funds are most popular. fur-institutionelle substantiated results. The study focuses companies had benefited from state on small and mid-size PE funds with a aid. Of these state benefits, 96 percent majority having active portfolios of up consisted of short-time working, 67 % of to ten companies (66 percent). The sur- tax deferrals, and 54 % took advantage vey was anonymized and conducted of KfW loans. Overall, however, just over with standardised questions according a third (38 %) stated that the short-term to academic standards over a period of liquidity need was acute. The major- 3.5 weeks in August 2020. The poll was ity requested the state support mainly Corporate endgame regulation and headed by Gero Güllmeister (Partner) as a precautionary measure during the and Dr. Martin Schneider (Senior Man- current crisis. Additionally, 55 % of the increasing index fund ownership provide ager) of Andersch FTI as well as Prof. Dr. PE funds also stated that their portfolio conditions favoring hedge fund activism Bernhard Schwetzler (Academic Direc- companies had also used non-govern- tor) and Dr. Benjamin Hammer (Execu- mental financial opportunities, such as tive Director) of the CCTPE. Prof. Dr. bank loans. The working paper “Determinants of Based on the sample of 76 endgame Bernhard Schwetzler commented on the Hedge Fund Investment in Corpo- situations and investment data of current crisis and the conducted study: The results show that private equity rate Endgames” by Ludwig Dobmeier, 326 hedge funds, the paper examines “Private equity firms secure medium- portfolio companies were hit hard by Renata Lavrova and Prof. Dr. Bernhard characteristics of companies targeted sized jobs and strengthen the German the COVID-19 crisis, but also that they Schwetzler analyzes factors that attract by hedge funds and the likelihood of economic structure – but the negative were able to benefit from private equity hedge fund investors. Findings indi- hedge fund investment. The regression effects of the C-19 crisis are also vis- firms’ ability to act quickly. However, as cate that a high stake of index funds analysis shows that the ownership stake ible in companies managed by private half of the survey participants expect a increases the probability of hedge fund of index funds in a company undergoing equity funds. Our joint study provides negative long-term impact of this crisis, intervention. an endgame process is one of the key transparency and a first indication of the it shows how difficult it is to make a reli- drivers of hedge fund activism. As the extent of the impact on private equity able forecast even for industry experts. The likelihood of hedge fund ownership index fund stake is not accessible to the portfolio companies.” presence is the highest in the period bidder, activist investors are in a better between the closing of the takeover bid position for a ‘bumpitrage’. The effect of The results show that 56 % of the sur- A one-pager with the main results in and the announcement of the next end- index fund stake is particularly strong veyed companies experience liquid- German can be found on: game transaction. During this period, after the announcements of a takeover ity shortages in their portfolio and hedge fund activists try to lever a higher bid and a following endgame measure. announced more extensive ­liquidity https://www.andersch-ag.de/ price by the so-called ‘bumpitrage’ Further, the takeovers by PE investors reporting requirements.­ 63 % also de/news/coronakrise-trifft- strategy, threatening to ‘block’ the take- have a significantly higher hedge fund assume that their portfolio companies auch-die-private-equity-szene/ over and/or endgame transaction. involvement. 16 HHL NEWS FALL 2020

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Chair of Marketing Corona pandemic: Is solidarity amongst German citizens reflected in their thoughts and actions?

At the end of September 2020, the to be left out as only 25 % of German cit- Dr. Manfred Kirchgeorg – “that people the shopping behavior of German citi- Chair of Marketing conducted a repre- izens assign responsibility to it. Among have once again become more con- zens during the corona crisis. Amongst sentative survey of 2160 German citi- the younger generation (under 30), scious about their personal lives in these others, a considerable increase in online zens to determine how they are affected this figure even drops to only 16 %. This challenging times. Instead of rushing purchases can be observed. by COVID-19 restrictions as well as to result leads to the question: Did the through the daily routine, the lockdown examine changes in their personal val- church miss the opportunity to actively necessarily created time to think about Prof. Dr. Manfred Kirchgeorg and his ues and purchasing behavior. help people during the corona crisis? what is important in people’s lives. It research team conducted the study on remains to be seen to what extent this behalf of the Scientific Society for Market- While 34 % of the German citizens tol- Does the corona pandemic and its will result in changes in behavior. How- Oriented Management. On 1 & 2 October erate the restriction of fundamen- permanent real and media presence ever, it must be determined: In the heads 2020, he presented the results at a Lead- tal rights by the COVID-19 measures, changes the personal goals of citi- of the citizens, something changes.” ership Round Table in Berlin attended by 51 % would even be prepared to accept zens? The current empirical study also 60 CEOs. A scientific working paper with further restrictions if necessary (Fig- provides comprehensive information Additionally, the conducted study pro- the complete analyses will be available at ure 1). Currently, only 15 % feel that the on this issue. “Something has changed vides a wide range of information on the end of November 2020. corona measures are too restrictive. in the minds of citizens”, notes Prof. According to these results, the extent of Dr. Manfred Kirchgeorg (Figure 3). After the media presence of protests against eight months of living with the corona COVID-19 measures does not reflect the crisis, for one third of the population Online teaching _ Tobias Naujoks: Structural opinion of the majority of German citi- interpersonal relationships (35 %), a changes in online retailing and the zens. Furthermore, the assessment of more intensive family life (32 %) and The recent months have been excep- marketing mix – An analysis con- the responsibility of institutions to cope financial security (29 %) have become tional times for everyone, including sidering multichannel online retail- with the corona crisis shows that Ger- more important. The longing for peace the Chair of Marketing. Besides sev- ing and voice dialog interfaces man citizens see politics, science and and relaxation (28 %), honesty (27 %) eral published articles by the chair’s themselves as having the main respon- and a health-conscious life has experi- team, also the offered lectures, like Concluded research sibility (Figure 2). The need for solidar- enced a surge in importance for a quar- customer value creation and market- projects ity and responsible actions on the part ter of the people. Status symbols, on the ing mix and controlling, continued. of each citizen is recognized by 87 %. other hand, are becoming less valued. Due to the current unpredictable sit- Besides the chair’s teaching activi- Whereas, the institution “church” seems “The results show” – according to Prof. uation, the chair as well had to adapt ties, two projects that the Chair of and switch to online formats of Marketing was involved in have come teaching at short-notice. It was and to an end. In June, Dr. Anna Jäger is tried to improve with every session and Dr. Anja Weber were allowed to keep the high quality standards. to virtually moderate the last pro- To this date, it seems like this effort ject advisory board meeting for the has helped to create an atmosphere research project “Promotion of Sus- in that the students can enjoy learn- tainable Consumer Behavior at the ing, even without being on-site or Point of Decision”. During 1.5 years, having any physical contact. In case many exciting studies on the use of the situation eases, the chair is pre- digital technologies for the market- pared to quickly switch to hybrid or ing of sustainable products funded on-site teaching again. by the Deutsche Bundesstiftung Umwelt (DBU) have been con- Doctorate degree ducted. Secondly, the final report awarded six times for the so-called ‘SURTRADE: Smart Urban Retail Services’ project is in This year, the chair of marketing was process. During the project, contri- able to congratulate an incredible butions to the development of trade amount of six doctoral candidates on structures in the city of tomorrow their successful conclusion of their are developed with an interdiscipli- dissertation so far. Due to the current nary view from marketing, informa- restrictions, all final presentations tion technology, service science and have been held virtually. More are urban development. already planned for the last months of the year: Virtual sustainability workshop _ Rico Manß: Cross-Channel Inte- gration: A Consumer and Supplier For the third time already, the sus- Perspective tainability workshop initiated by the _ Rico Bornschein: Consumer HHL Marketing Chair took place. This Behavior in a Multichannel Context time the workshop aimed to con- and its managerial Implications tribute to the highly influential and _ Anna-Katharina Jäger: Going timely discussion about sustainabil- Green at the Point of Sale: Appli- ity in the fashion industry. Curated cation of Digital Technologies and and organized by Dr. Anja Weber, Message Framing to Promote Sus- Sara Lagodni, and Marie Schwimmer, tainable Consumption three industry experts were chosen _ Christin Claudia Oechsle-Neu- to give insights into challenges and mann: Der Einfluss von Diversity initiatives to drive sustainability in Management auf das Employer the fashion industry. This time, the Branding – Erfolgsfaktor virtual workshop participants could Führungs­kraft bei Gender Diver- ask questions and discuss the top- sity dargestellt anhand einer fall- ics with the experts. One holistic basierten Analyse insight was that fashion companies _ Michaela Hausmann-Hofer: need to change how they operate to ­Wahrnehmung von internatio­ ­ counterbalance the rapidly growing nalisierten Transfermarken im industry’s negative environmental Messebereich – Eine empirische and social impacts. ­Analyse von Messe-Marken- Designs in Asien www.hhl.de HHL NEWS FALL 2020 17

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Chair of Retail Management Two A-level publications for HHL on platforms, Overview of mobile marketing, and machine learning our faculty and competence “Assessing Ad Attention through Clus- stantively relevant knowledge that can tering Viewport Trajectories”, under also be directly applied in our teaching, centers the leadership of former HHL PhD stu- for instance in courses such as Digital dent Dr. Lennard Schmidt, uses machine Marketing and Customer Analytics or learning to distinguish attention from E-Business. inattention in seeing mobile ads by clus- Our Faculty tering the trajectories with which the Maier, E. & Wieringa, J.: Acquiring Cus- ads move over the screen (or: viewport) tomers through Online Marketplaces? Dr. Lennard Schmidt of the phone. The article finds that while The Effect of Marketplace Sales on Sales _ Accounting and Auditing many ads are counted (and paid for) in a Retailer’s Own Channels, Interna- as “seen”, the actual attention level lies tional Journal of Research in Marketing, _ Business Psychology and below. https://doi.org/10.1016/j.ijresmar.2020. Leadership 09.007 _ Corporate Responsibility and These scientific success cases highlight Governance HHL’s research strategy: As a research- Schmidt, L, & Maier, E.: Assessing Ad oriented university, HHL does not only Attention through Clustering Viewport _ Digital Innovation in Service research for the international scien- Trajectories, Proceeedings of the Inter- Industries tific community, but works closely with national Conference of Information Sys- _ Economics and Business Ethics Jun.-Prof. Dr. Erik Maier companies and managers to create sub- tems 2020, forthcoming. _ Economics and Information Systems “Platforms are the future of e-com- _ Entrepreneurship and merce”, “Mobile marketing is a must Technology Transfer for any marketer”, “Machine learning is the future of marketing” – the Junior _ Financial Management Professorship in Retail and Multi-Chan- _ Innovation Management and nel-Marketing continues to challenge Entrepreneurship buzzwords and commonly held beliefs through rigorous empirical research. _ International Management _ IT-based Logistics In this vein, two research projects recently reached high international recognition _ Law of Economic Regulation through publications in top-level inter- _ M&A of Small- and Midsized national journals: “Acquiring Custom- Entities ers through Online Marketplaces? The Effect of Marketplace Sales on Sales in _ Macroeconomics a Retailer’s Own Channels” finds that _ Marketing retailers can profit from selling on global _ Microeconomics marketplaces and platforms, such as Amazon or Taobao – albeit at a long- _ Retail Management term risk of losing the customer relation- _ Strategic Entrepreneurship ship. The article is based on a research project with an e-commerce retailer. _ Strategic Management and Digital Entrepreneurship

HHL supports and cooperates with Leipzig’s Competence Centers retail community _ Center for Advanced Studies in Management (CASiM) Studying the effects of HHL supports local retailers­ ject is an easy-to-use location attrac- _ Center for Entrepreneurial and the corona crisis on Leipzig’s in finding the right store tiveness heatmaps for Leipzig, which Innovative Management (CEIM) retailers location is accessible online (https://handels. _ Center for Corporate blog/standorteleipzigs/). Interested Governance (CCG) How strongly were Leipzig’s retail- “What are the three success crite- retailers are also invited to register ers affected by the lock-down? A ria for a store?” – “Location, location, for a free online workshop on location _ Center for Corporate joint study with Handelsverband location.” What seemed to be a lame selection. Transactions & Private Equity Sachsen, City Leipzig Marketing, and old joke among retailer managers is (CCTPE) Wirtschaftsförderung Leipzig inves- a reality for many of Leipzig’s retail- Cooperation continues: _ Center for Financial Reporting tigated the corona crisis’s effects on ers. Still, local retailers often lack the Konsum Leipzig and HHL and Consolidation (CFRC) Leipzig’s retailers. The study finds resources to develop or purchase that while many retailers were struck elaborate location planning tools. Already in its second year, the coop- _ Center for Health Care by the enforced closure (–50 % reve- Interviews reveal that managers fre- eration between Konsum Leipzig and Management and Regulation nue in April), they mostly recovered quently rely intuition and an experi- HHL Leipzig continues to blossom. (CHCMR) their revenues already by June (–18 %). ment that they use heuristics rather Impactful student consulting projects, _ Center for Leading Innovation Although uncertain about the near than facts. A current research pro- management education, joint public and Cooperation (CLIC) future in the pandemic, the participat- ject, supported by Wirtschaftsförder- talks, research projects, and schol- ing merchants appreciated Leipzig ung Leipzig, therefore, develops an arships (“Deutschlandstipendium”) _ Center for Strategy and as a retail location, and only a small intuitive location scouting tool for highlight the ongoing mutual sup- Scenario Planning (CSSP) minority was afraid of an impend- the city of Leipzig that can help local port. “It is great that with Konsum and _ Institute for Family ing store closure. HHL joins Leipzig’s merchants to identify attractive loca- HHL, two long-standing institutions of Businesses & Entrepreneurial retailers in hoping that another shut- tions based on a city’s scaling param- Leipzig’s retail scene work so closely Succession (IFU) down of retail stores can be avoided eters derived from open map data. and successfully together”, says Jun.- this fall and winter. Among the end products of the pro- Prof. Dr. Erik Maier. 18 HHL NEWS FALL 2020

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Publications

Accounting and Auditing In: International Public Management Journal, Pankov, Susanne; Velamuri, Vivek K.; Schneckenberg, Marketing Zülch, Henning: Fußball mit Fans – warum die Länder 10.1080/10967494.2020.1829763, 2020, Journal Dirk: Towards sustainable entrepreneurial Naujoks, Tobias: Structural changes in online retailing eine einheitliche Lösung finden müssen. In: manager Article B ecosystems: Examining the effect of contextual and the marketing mix – An analysis considering magazin online 2020, https://www.manager-magazin. Jasinenko, Anna; Christandl, Fabian; Meynhardt, Timo: factors on sustainable entrepreneurial activities in multi­channel online retailing and voice dialog inter- de/lifestyle/fitness/fussball-bundesliga-mit- Justified by ideology: Why conservatives care less the sharing economy. In: Small Business Economics: faces. Dissertation, Leipzig, 2020, Doctoral Thesis zuschauern-auf-den-raengen-in-neue-saison-a- about corporate social irresponsibility. In: Journal of An Entrepreneurship Journal, Journal Article B Hausmann-Hofer, Michaela: Wahrnehmung 8fd4c496-d325-49db-ba4e-2ee6b1e9d51b, Online Business Research, (114). 290–303. ISSN 0148-2963, (forthcoming) von internationalisierten Transfermarken im Publication 2020, Journal Article B Pankov, Susanne; Castelló, Itziar; Schneckenberg, Messebereich – Eine empirische Analyse von Messe- Zülch, Henning: Quartalszahlen sind wichtiger denn Brieger, Steven; De Clercq, Drik; Meynhardt, Timo: Dirk; Velamuri, Vivek K.: Labels as moral markers: Marken-Designs in Asien. Dissertation, Leipzig, 2020, je. In: manager magazin online 2020, https://www. Doing Good, Feeling Good? Entrepreneurs’ Social organizational identity formation in contested Doctoral Thesis manager-magazin.de/unternehmen/quartalszahlen- Value Creation Beliefs and Work-Related Well-Being. fields. In: Academy of Management Annual Meeting Oechsle-Neumann, Christin Claudia: Der Einfluss von sind-wichtiger-denn-je-a-27b8a715-0f73-4c6a-8167- In: Journal of Business Ethics, 1-19. ISSN 0167-4544, Proceedings, 2020, Conference Proceedings Diversity Management auf das Employer Branding – 961505d2482b, Online Publication 2020, Journal Article B Zhou, Wenqian; Velamuri, Vivek K.: Practices for Erfolgsfaktor Führungskraft bei Gender Diversity Weuster, Carl; Ottenstein, Philipp; Jost, Sébastien; Meynhardt, Timo; Kirchgeorg, Manfred; Suchanek, building innovation capabilities of local employees dargestellt anhand einer fallbasierten Analyse. Winter, Sophie; Zülch, Henning: Wie Andreas; Zülch, Henning: Powerful or powerless? at German manufacturing subsidiaries in China. Dissertation, Leipzig, 2020, Doctoral Thesis eine externe Prüfung die Transparenz von Beyond power and powerlessness: the Leipzig In: International Journal of Entrepreneurship and Jäger, Anna-Katharina: Going Green at the Point of Sale: Nachhaltigkeitsberichten beeinflusst – Eine Leadership Model provides some answers. Innovation Management, 24(4/5):374-392, 2020, Application of Digital Technologies and Message empirische Analyse. In: WPg – Die Wirtschaftsprüfung In: Leadership, Education, Personality: An Journal Article C Framing to Promote Sustainable Consumption. (forthcoming 2020), Journal Article C Interdisciplinary Journal https://doi.org/10.1365/ Dissertation, Leipzig, 2020, Doctoral Thesis Ottenstein, Philipp; Zülch, Henning; Wolter, Ann- s42681-020-00007-0, 2020, Journal Article Digital Innovation and Service Industries Bornschein, Rico: Consumer Behavior in a Multichannel Christin; Hecht, Jens: Weniger ist weniger? Eine Meynhardt, Timo: Purpose ist kein Gutmenschentum.­ In: Neyer, Anne-Katrin; Lehmann, Claudia: Künstliche Context and its managerial Implications. Dissertation, Längsschnittstudie der Quartalsberichterstattung in Harvard Business Manager, Februar 2020 28-33. ISSN Intelligenz im Arbeitsalltag. In: HR Insights, Vol. 1, Leipzig, 2020, Doctoral Thesis DAX, MDAX und SDAX. In: DER BETRIEB (2020) 41, 0174-335X, 2020, Journal Article 2019, Journal Article Manß, Rico: Cross-Channel Integration: A Consumer and 2137–2144, Journal Article D Meynhardt, Timo; Gomez, Peter; Lambertz, Mark: Mosig, Tim; Lehmann, Claudia; Neyer, Anne-Katrin: Supplier Perspective. Dissertation, Leipzig, 2020, Zülch, Henning; Pieper, Hendrik: Die Relevanz von Der reflektierende Praktiker – fünf Denkmuster für Data-Driven Business Model Innovation: About Doctoral Thesis Transparenz und Digitalisierung der Investor Führungskräfte. In: Wirtschaftspsychologie aktuell, Barriers and New Perspectives. In: International Jäger, Anna-Katharina; Weber, Anja: Increasing Relations – Teil 2: Welche digitalen Kanäle (2). 27–32. ISSN 1611-9207, 2020, Journal Article Journal of Innovation and Technology Management, sustainable consumption: message framing and werden in der Krisenzeit genutzt und was kann Meynhardt, Timo: Europäische Werte und gute Führung: 2020, Journal Article C (forthcoming) in-store technology. In: International Journal of Retail verbessert werden? In: KoR: Internationale und Rollendistanz wagen. In: Flick, Corinne Michaela Tolettini, Laura; Lehmann, Claudia: Industry 4.0: New & Distribution Management, 2020, Journal Article C kapitalmarktorientierte Rechnungslegung, 20 (2020) (Hrsg.): Der Wert Europas in einer bedeutsameren Paradigms of Value Creation for the Steel Sector. In: Jäger, Anna-Katharina; Weber, Anja; Kirchgeorg, 7, 349-351, Journal Article D Weltgeschichte. Göttingen: Wallstein Verlag, 93–110, Knowledge Management and Industry 4.0 (pp. 179– Manfred: Sustainability apps – the key to promoting Zülch, Henning; Ottenstein, Philipp; Thun, Toni W.: Book Chapter 206), 2020, Journal Article sustainable shopping? In: Marketing Review St. Die Finanzkommunikation von Wirecard – Einblicke Meynhardt, Timo; Feser, Maximilian; Steuber, Josephina: Mosig, Tim; Lehmann, Claudia: Talk-Play-Touch Think Gallen, 2020, Journal Article D in sechs Jahre Reporting und Investor Relations. Gemeinwohl & Kirche: Aufgabe und Chance. In: Digital - Creating Digital Business Models. In: Holdack, Eric; Lurie, Katja: The role of perceived enjoy- In: KoR: Internationale und kapitalmarktorientierte Diakonia, 2/2020 (51). 74–80, 2020, Journal Article Journal of Business Models, 2020, Journal Article ment and perceived informativeness in assessing the Rechnungslegung, 20 (2020) 9, 407–408, Journal (forthcoming) acceptance of AR wearables. In: Journal of Retailing Article D Center for Strategy and Scenario Planning (CSSP) Meier, Simon; Mosig, Tim: Die Trends Hyperautomation, and Consumer Services, 2020, Journal Article C Zülch, Henning; Ottenstein, Philipp: Die Müller, Fabian Alexander; Wulf, Torsten: Technology- Digital Health und Veränderung der Arbeitswelt Yang, Xisi: Potential consequences of COVID-19 for Quartalsberichterstattung im Prime Standard – supported management education: a systematic unter dem Covid-19 Brennglas. In: Zeitschrift für sustainable meat consumption: the role of food safety Der Weg zur effektiven unterjährigen review of antecedents of learning effectiveness. Versicherungswesen. 20(13), 424–428, 2020, Journal concerns and responsibility attributions. In: British Finanzberichterstattung. In: KoR: Internationale und International Journal of Educational Technology in Article Food Journal, 2020, Journal Article kapitalmarktorientierte Rechnungslegung, 20 (2020) Higher Education, 17(47). DOI 10.1186/s41239-020- Meier, Simon; Mosig, Tim; Lehmann, Claudia: Kirchgeorg, Manfred; Schalk, Willi; Strahlendorf, Peter: 10, 465–466, Journal Article D 00226-x, 2020, Journal Article Die Zukunft von Versicherungsunternehmen – „… und so geht es weiter“: Herkunft und Zukunft der Zülch, Henning; Pieper, Hendrik: Ist die 50+1-Regel Meissner, Philipp; Poensgen, Christian; Wulf, Torsten: Perspektiven für Geschäftsmodellinnovation. In: deutschen Werbewirtschaft. In: Books on Demand, noch zeitgemäß? Ein Meinungsbild zur umstrittenen How hot cognition can lead us astray: The effect of Zeitschrift für Versicherungswesen. 19(24), 750–753. Hamburg, 2020, forthcoming Regelung im deutschen Profifußball. HHL Working anger on strategic decision making. In: European 2019, Journal Article Bornschein, Rico; Schmidt, Lennard; Maier, Erik; Gomez, Paper 186. Leipzig: HHL Leipzig Graduate School of Management Journal, in press, doi.org/10.1016/j. Peter: The effect of consumers’ perceived power Management, 2020, Working Paper emj.2020.09.010, 2020, Journal Article B IT-based Logistics and risk in digital information privacy: the example Erben, Saskia; Zülch, Henning: CSR-Performance- Meissner, Philipp; Wulf, Torsten; Neidhardt, Harald: Hausladen, Iris: IT-gestützte Logistik. Systeme – of cookie notices. In: Journal of Public Policy and Cycle: Ein Anwendungsleitfaden für eine effiziente Superschnelles Wachstum. In: Harvard Business Prozesse – Anwendungen. Lehrbuch, Springer Gabler, Marketing, 2020, Journal Article B nichtfinanzielle Berichterstattung. HHL Working manager (11/2020), p. 72-77, 2020, Journal Article D 4. Auflage, Wiesbaden 2020, eBook Beyer, Christina: Kongruenz in der Crossmedia- Paper 185. Leipzig: HHL Leipzig Graduate School of Schwenker, Burkhard; Wulf, Torsten: Ein besseres Bild Hausladen, Iris; Hentze, Philipp; Matthes, Andreas: Kommunikation: eine Untersuchung der Management, 2020, Working Paper der Zukunft – Kluge Szenarien als Antwort auf Covid- Physisches Internet im Quartier – Konzeption eines Determinanten und Wirkungen. Schriftenreihe der Zülch, Henning: Wie wirkt der Chef? Und wie ist er 19. HHL Leipzig Graduate School of Management generischen Gestaltungsrahmens. In: Industrie 4.0 HHL Leipzig Graduate School of Management, 2020, wirklich? – Die vier verschiedenen CEO-Typen. In: Center for Strategy and Scenario Planning, Working Management 36, 5/2020, Oktober 2020, S. 25–28, Doctoral Thesis manager magazin online 2020 (https://www. Paper Online Article Weber, Anja; Maier, Erik: Reducing competitive research manager-magazin.de/finanzen/artikel/fuehrung-die- Hausladen, Iris; Sylla, Philipp: Business-managed IT – shopping with cross-channel delivery. In: International vier-verschiedenen-ceo-typen-arten-des-konzern Economics and Business Ethics Rahmenbedingungen für mehr IT-Verantwortung Journal of Electronic Commerce, 2020, Journal chefs-a-1304900.html), Online Publication Suchanek, Andreas: Unternehmensverantwortung: durch den Fachbereich. In: HMD Praxis der Article B Zülch, Henning; Ottenstein, Philipp; Schneider, Anne: primum non nocere. In: Entgrenzte Verantwortung. Wirtschaftsinformatik (2020), https://doi.org/10.1365/ Jäger, Anna-Katharina; Weber, Anja: Can you believe it? Die Relevanz von Transparenz und Digitalisierung Zur Reichweite und Regulierung von Verantwortung s40702-020-00644-5, Online Article The effects of benefit type versus construal level on der Investor Relations – Teil 1: Wie haben sich in Wirtschaft, Medien, Technik und Umwelt, hg. v. Anja Hausladen, Iris; Schosser, Maximilian: Towards a advertisement credibility and purchase intention for deutsche Unternehmen auf Krisenzeiten vorbereitet? Seibert-Fohr, Berlin 2020, 109–123, Book Chapter maturity model for big data analytics in airline organic food. Journal of Cleaner Production, 2020. In: KoR: Internationale und kapitalmarktorientierte Suchanek, Andreas: The Problem of Corporate network planning. In: Journal of Air Transport (VHB: B), Journal Article B Rechnungslegung, 20 (2020) 6, 293–294, Journal Legitimacy. In: Handbook of Business Legitimacy, Management 82 (2020), DOI: 10.1016/j. Article D hg. v. J. D. Rendtorff, Cham 2020, 31–52, Book Chapter jairtraman.2019.101721, Online Article Retail Management Zülch, Henning; Pieper, Hendrik: Implikationen Suchanek, Andreas: Wirtschaft, Gesundheit und der Schosser, Maximilian: Big Data to improve strategic Maier, Erik; Wieringa, Jaap: Acquiring Customers des Coronavirus auf die kapitalmarktorientierte ethische Kompass. In: Zeitschrift für Wirtschafts- network planning in airlines: first comparative through Online Marketplaces? The Effect of Rechnungslegung. In: KoR: Internationale und und Unternehmensethik – Sonderband: Lehren aus study on airline network planning. Research, Reihe: Marketplace Sales on Sales in a Retailer’s kapitalmarktorientierte Rechnungslegung, 20 (2020) Corona, hg. v. A. Brink et al., Baden Baden 2020, Schriftenreihe der HHL Leipzig Graduate School of Own Channels. In: International Journal of 5, 245–249, Journal Article D 181–194, Journal Article C Management, 1st ed., Wiesbaden 2020, eBook Research in Marketing (https://doi.org/10.1016/j. Zülch, Henning; Ottenstein, Philipp; Schneider, Anne: Suchanek, Andreas: CDR: primum non nocere. Hausladen, Iris; Eiselbrecher, Kerstin: Lösungsansätze ijresmar.2020.09.007) [VHB: A], 2020, Journal Article Reportingqualität am deutschen Kapital­markt – In: Unternehmensverantwortung im digitalen zur Gestaltung einer nachhaltigen Strom Supply A ­Analyse, Trends und Fallbeispiele. In: KoR: Interna- Wandel. Ein Debattenbeitrag zu Corporate Chain im Zeitalter der Energiewende und Schmidt, Lennard; Maier, Erik: Assessing Ad Attention tionale und kapitalmarktorientierte Rechnungslegung, Digital Responsibility, hg. v. Bertelsmann Stiftung, Digitalisierung. In: Schröder Meike, Wegner Kirsten through Clustering Viewport Trajectories. In: 20 (2020) 4, 190–192, Journal Article D Wittenberg-Zentrum für Globale Ethik, Gütersloh (Hrsg.). Logistik im Wandel der Zeit – Von der Proceedings of the International Conference on Zülch, Henning; Kirchhoff, Klaus Rainer.; Ottenstein, 2020, 17–22, Book Chapter Produktionssteuerung zu vernetzten Supply Chains. Information Systems (ICIS) 2020 [VHB: A], Journal Philipp.; Weuster, Carl W.: Big Brother is listening Wiesbaden: Springer Gabler, 2019, S. 647–672, eBook Article A (forthcoming) to you – die CEO-Kommunikation in Deutschland. Economics and Information Systems Boden, J.; Maier, Erik; Dost, F.: The Effect of Electronic In: KoR: Internationale und kapitalmarktorientierte Casajus, André: Extension operators for TU games M&A of Small- and Midsized Entities Shelf Labels on Store Revenue. In: International Rechnungslegung, 20 (2020) 3, 148–149, Journal and the Lovász extension. In: Discrete Applied Büttner, Hendrik; Krause, Marko; Lahmann, Alexander: Journal of Electronic Commerce 24(4), 527–550 Article D Mathematics 288, 2021, 66–73. [VHB: A], Journal How does the effect of tax shield losses effect [VHB: B], 2020, Journal Article B Zülch, Henning; Barrantes, Eloy: Digital reporting Article A (forthcoming) corporate capital structure decisions? HHL Working Bornschein, Rico; Schmidt, Lennard; Maier, Erik: The is part of the game. In: KoR: Internationale und Casajus, André; Kramm, Michael; Wiese, Harald: Paper, Leipzig: HHL Leipzig Graduate School of Effect of Consumers’ Perceived Power and Risk in kapitalmarktorientierte Rechnungslegung, 20 (2020) Asymptotic stability in the Lovász-Shapley replicator Management, 2020, Working Paper Digital Information Privacy – The Example of Cookie 2, 99–100, Journal Article D dynamic for cooperative games. In: Journal of Fischer, Max; Krause, Marko; Lahmann, Alexander: Notices. In: Journal of Public Policy & Marketing Zülch, Henning; Erben, Saskia: Der CSR-Performance- Economic Theory 186, 2020, 1–14, Journal Article B Capital structure effects of earnings stripping rules. 39(2), 135–154 [VHB: B], 2020, Journal Article B Cycle – Durch effizientes Prozessmanagement zur (HB-VWL) HHL Working Paper. Leipzig: HHL Leipzig Graduate Schmidt, Lennard; Bornschein, Rico; Maier, Erik: systematischen nichtfinanziellen Berichterstattung. La Mura, Pierfrancesco: Using Phobos as a passive School of Management, 2020, Working Paper The Effect of Privacy Choice in Cookie Notices on In: REthinking Finance, 2 (2020) 2, 40–44, Journal launch system for solar system spacecraft. Fischer, Max; Krause, Marko; Lahmann, Alexander; Consumers’ Perceived Fairness of Frequent Price Article Proceedings of the 71th International Astronautical Stimper, Franziska: Firm valuation with state Changes. In: Psychology & Marketing 37(9), 1263– Zülch, Henning; Palme, Moritz; Jost, Sébastien: Congress, October 12–14, 2020. dependent COD taxation. In: The Quarterly Review 1276, [VHB: B], 2020, Journal Article B Management Quality of Professional Football Clubs: La Mura, Pierfrancesco: The case for a quantum internet of Economics and Finance, Journal Article B Weber, Anja; Maier, Erik: Reducing competitive research The Football Management (FoMa) Q-Score 2018. in distributed space operations. Invited talk at the (forthcoming) shopping with cross-channel delivery. In: International In: Sport, Business and Management (forthcoming European Space Agency/Advanced Concepts Team. Krause, Marko; Lahmann, Alexander: The tax advantage Journal of Electronic Commerce 24, 78–106 [VHB: B], 2020), Journal Article July 17, 2020. of public firms over private firms in the German solid 2020, Journal Article B Zülch, Henning; Ottenstein, Philipp; Thun, Toni W.: La Mura, Pierfrancesco; Demyanenko, Nataliya: waste disposal industry. HHL Working Paper, Leipzig: Boden, Joe; Maier; Erik; Wilken, Robert: The effect of Investors’ Darling 2020: Kapitalmarktkommunikation Gamson-Shapley Laws – A Formal Approach to HHL Leipzig Graduate School of Management, 2020, credit card versus mobile payment on convenience in Zeiten der Pandemie (Teil 1) – Neue Rekorde Political Coalition Formation. 10th Annual Conference Working Paper and consumers’ willingness to pay. In: Journal of in der Reportingqualität, Gesamtergebnisse und of the European Political Science Association, June Krause, Marko; Lahmann, Alexander: Differential Retailing and Consumer Services 52, [VHB: C], Top-Unternehmen in DAX, MDAX und SDAX. In: 18–19, 2020. taxation and security market lines - a clarification. Journal Article C KoR: Internationale und kapitalmarktorientierte Carena, Edgardo Di Nicola; La Mura Pierfrancesco; HHL Working Paper, Leipzig: HHL Leipzig Graduate Rechnungs­legung, (2020) 11, 512–51, Journal Article D Rebucci, Alesasndro: Blockchain technology and School of Management, 2020, Working Paper Strategic Management and Digital Entrepreneurship Zülch, Henning; Ottenstein, Philipp; Thun, Toni W.: government applications: A proposal for a Global Kaboth, Julian; Lodowicks, Arnd; Schreiter, Maximilian; Rosin, Anna Frieda; Proksch, Dorian; Stubner, Stephan; Investors’ Darling 2020: Kapitalmarktkommunikation Patent Office. The Economics of Fintech and Digital Schwetzler, Bernhard: Same same but different: Pinkwart, Andreas: Digital Entrepreneurship – Eine in Zeiten der Pandemie (Teil 2) – Sonderpreise Currencies. Antonio Fatás, Ed., Centre for Economic How preferential claims skew risk and return of kritische Betrachtung der Vorteile der Digitalisierung und Corona-Score. In: KoR: Internationale und Policy Research, 2019. VC investments. HHL Working Paper, Leipzig: HHL für Start-ups. In: Perspektiven des Entrepreneurships, kapitalmarktorientierte Rechnungslegung, 2020, Leipzig Graduate School of Management, 2020, Verlag Schäffer-Poeschel, Stuttgart, 2020, S. Journal Article D (forthcoming) Entrepreneurship and Technology Transfer Working Paper 343–51, https://shop.schaeffer-poeschel.de/prod/ Weuster, Carl; Ottenstein, Philipp; Jost, Sébastien; Rössler, Mirjam; Schneckenberg, Dirk; Velamuri, Schreiter, Maximilian: Project Financing vs. Corporate perspektiven-des-entrepreneurships., Book Chapter Winter, Sophie: External Assurance and Transparency Vivek. K.: Situated entrepreneurial cognition in Integration: Decision-Making under Operational and Gutmann, Tobias; Maas, Cornelius; Kanbach, Dominik; in CSR Reporting – European Evidence. HHL Working corporate incubators and accelerators: The business Financial Risks. HHL Working Paper, Leipzig: HHL Stubner, Stephan: Startups in a corporate accelerator: Paper 182. Leipzig: HHL Leipzig Graduate School of model as a boundary object. In: IEEE Transactions Leipzig Graduate School of Management, 2020, what is satisfying, what is relevant and what can Management, 2019, Working Paper on Engineering Management, Journal Article B Working Paper corporates improve. In: International Journal of (forthcoming) Lahmann, Alexander; Schreiter, Maximilian; Stimper, Entrepreneurship and Innovation Management, 24, Business Psychology and Leadership Wrede, Michaela; Velamuri, Vivek K.; Dauth, Tobias: Franziska: Modelling Dynamic Redemption and 6/2020, Journal Article C Meynhardt, Timo: GemeinwohlAltas Leipzig, www. Top managers in the digital age: Exploring the Default Risk for LBO Evaluation: A Default Trigger Pielken, Sabina; Kanbach, Dominik: Corporate­ gemeinwohlatlas.de, 2020, Website role and practices of top managers in firms’ Approach. HHL Working Paper, Leipzig: HHL Leipzig Accelerators in Family Firms – A Conceptual­ View Meynhardt, Timo; Jasinenko, Anna: Measuring Public digital transformation. In: Managerial and Decision Graduate School of Management, 2020, Working on Their Design. In: Journal of Applied Business Value: Scale Development and Construct Validation. Economics, Journal Article B (forthcoming) Paper Research, Journal Article C (forthcoming) www.hhl.de HHL NEWS FALL 2020 19

HHL ALUMNI ASSOCIATION

The new board of the HHL Alumni Main HHLAA board Association is introducing itself:

“ “ “ Founded in 1898, HHL has The HHL alumni are a great HHL alumni association brings since been about realizing network of entrepreneurs and together inspiring people opportunities. Every alumnus/ leaders around the world. It from all over the world. It’s a every alumna carries this will be a pleasure to enable pleasure and honor to be part special #hhlspirit and I am interaction within this network of this precious community. honored to be part of this to share ideas on how to face Tobias Wolff(M10) journey. the challenges of responsible leadership and to support HHL Hanns-Christian Ehret (K22) Chairman in educating future leaders.

Dr. Conrad von Stechow (K22)

Extended HHLAA board

“ “ “ “ It’s an honor to be part of the The resources at HHL created Leading the HHL alumni A major factor in my decision board and be a voice for the the experience I carry Chapter in Hamburg for more to do my MBA at HHL was alumni community. Looking throughout different aspects than 5 years I have enriched the incredible professional forward to re-connecting of life. I am proud to call my network and participated network the school offered. the local & the international myself an HHL alumna. in unforgettable expert talks. I’m excited and honored alumni and once again Now, I am grateful and excited to now be part of the HHL Fatima El-Khatib (M10) facilitate a unique experience to be part of our diverse HHL Alumni Association Board so as we have all had at HHL. Alumni Board dedicated to that I can help further develop foster connectivity between and strengthen an already Aparajita Deb (M17) alumni not only on a local but bustling alumni community! on a worldwide level. Pamela Taylor (M13) Melanie Lohmann (MSc9)

Mission

The HHLAA enable alumni to access the vast HHL ecosystem and mission is to: vibrant alumni network around the globe It is up to you, the HHL alumni, drive the engagement with the current HHL students to now connect the dots. forward Be an active member the HHL community, an international represent the alumni interests at HHL and diverse network, and ben- efit from the wide range of opportunities. Feel the HHL spirit and be a vital part! Bringing connecting with professionals, the HHL faculty, former class the mission to life: mates and getting involved in HHL initiatives on campus Stay in touch! Become an active member and sign up via https://alumni. launching the #HHLSpirit campaign ‘Stronger Together’ in hhl.de/registration/. pursuit of actionable solutions for leadership challenges by leveraging our vast alumni network

engaging in rethinking leadership and unfolding your entre- preneurial spirit to collectively address the growth oppor- tunities of our generation 20 HHL NEWS FALL 2020

PROGRAM ANNIVERSARY 20 years of MBA at HHL

HHL’s MBA program’s very first hours

‘Diplom-Kaufmann’ is not known and MBA students at HHL. Since then, HHL’s Prof. Dr. Gert Assmus was also the one may therefore unfortunately be even MBA program has successfully been who introduced the well-known gowns worth less than a master’s degree.” preparing students from all over the that students still wear on the gradua- While thinking back about implement- world for an international career. tion day up to today. As they were not ing the MBA program twenty years ago, available yet in Germany at that time, he he remembers having to explain to the Prof. Dr. Richard Mancke said in an inter- said, “I carried all the gowns with me in then Saxony’s Minister for Economic view: “I really appreciate HHL and its my hand luggage as I returned to Leip- Affairs why the program had to be fully faculty and I am still good friends with zig from the US.” He closed the inter- taught in English. He stated, “I wanted all of them. They all showed great com- view by emphasizing how thankful he is to attract and recruit faculty as well as mitment towards the MBA and towards for having had this opportunity as it was Prof. Dr. Gert Assmus with his HHL hat on in Maine, students from abroad in order to kick- teaching every­thing in English. Looking a “very interesting and rewarding time USA start HHL’s internationalization.” back twenty years now, I have very fond at HHL.” memories of my time at HHL, the stu- From 1997 to 2000, Prof. Dr. Gert Ass­ Due to his professional background and dents and the colleagues. The way the mus, who came from the worldwide his worldwide contacts, Prof. Dr. Rich- campus has developed is just beautiful renowned Tuck School of Business, was ard Mancke was able to establish exactly and also the way HHL expanded.” the Dean of HHL. Together with Ameri­ that, a now internationally awarded can Prof. Dr. Richard Mancke, long-term MBA program at HHL. As its Academic Aside from the internationalization and Associate Dean and Dean ad interim of Director he built the curriculum in a the broadened perspective that came Fletcher School of Law and Diplomacy, very global and innovative way and was along with the new program, Prof. Dr. the two introduced one of the first full- thereby able to engage renowned lec­ Gert Assmus said, “it always remained time American-style MBA programs in turers from all over the world. From 2001 within my focus to encourage stu- Germany in 1998. onwards, the American, who taught in dents to learn the local language and to the field of leadership and public pol­ immerse themselves with the German When asking Prof. Dr. Gert Assmus why icy at HHL, initiated the seminar series as well as Leipzig’s culture. Because he wanted an MBA program at HHL, he “L-BEST” (Leadership, Business, ­Eth­ics of that, I also initiated for students to answered that it was his goal for HHL and Technology) with lecturers such as attend the service at the renowned to become internationally active. “In Prof. Dr. Kurt Biedenkopf, Heinz Dürr, Thomas Church before heading to their Prof. Dr. Richard Mancke on the HHL campus in many countries outside of Germany a Klaus Krone or Menno Harms for the official ceremony on graduation day.” October 2020

Voices from three of our M 1 alumni 612 Students

Shoaib Ul-Haq Ralf Große Frie Jolanta Talaga Associate Professor at Karachi School Member of the Management­ Head of Supply Chain Operations of Business & Leadership at DMK Eis GmbH at Henkel

“I wanted to join a European business “There are numerous reasons to study at “Back in the day, I decided to study 65 school which had built up a strong repu- HHL. Personally with an academic back- at HHL as former students promoted Nationalities tation in terms of the quality of its fac- ground as civil engineer it was an out- the school very much to me; they ulty and a global outlook. HHL came out standing opportunity to add manage- were amazed about the very mod- to be an obvious choice for me. Due to ment expertise to my academic skillset. ern and effective studying approach, the global and culturally inclusive cam- Additionally, it was the first MBA class in internationality and fun aspect of pus of HHL, I was able to meet many stu- Leipzig and we felt like real pioneers. It course. HHL has also a very attrac- dents from different backgrounds and was a good portion of curiosity both in tive location - Leipzig is a fantastic experiences. These global interconnec- terms of willingness to learn about the city. tions widened my horizon not only in city of Leipzig with its lighthouse char- 6 the area of education and business but acter only a decade after the German The time at HHL truly broadened Continents life itself. reunification but also in terms of profes- my horizons. It was the first time in sional academic education. my life that I was studying with stu- Three things that were important to dents and professors from around me during my stay at HHL were excite- The international setup of the MBA pro- the world. This unique experience ment, curiosity, and rigor. I was excited gram was very inspiring from day one. shapes you for your whole life time. to learn new things and to discover new Studying with such an international ideas and concepts on an almost daily group of students made it very easy to For me the main take-away was the basis. I came to believe that curiosity overcome thresholds in terms of com- openness for diversity; the appre- 30 % is a powerful tool in the learning pro- munication. The skill to talk, to under- ciation towards other cultures and Female cess and should actually be part of an stand and to learn from each other other ways of doing and thinking. instructional strategy. Lastly, the rigor of developed very quickly. But also team work, presentation the MBA program pushed me to my lim- skills and ability to work and deliver its and I was able to develop strength Looking back, it was a great experi- under time pressure was a big learn- and efficiency. ence that took away fear to work in an ing for me and still helps me up to international company or setup. It was today.“ Overall, it was a very positive and thrill- a great learning effect to realize what a ing experience for me. Although I have strong momentum a class with so many 70 % left HHL, the resilience I developed there talents from individual cultures and aca- Male has been with me ever since.” demic disciplines can develop.” www.hhl.de HHL NEWS FALL 2020 21

ALUMNI OFFERS

Feathers in their cap – Offers to the HHL community and Recent career moves of our alumni how to become involved

Name | HHL Program New position | Employer Coaching for alumni

Ulrike Just (K14) Managing Director United Kingdom & Ireland­ | Career Coaching: identify talents, develop authentic and Linde Material Handling meaningful careers as well as strategies for your career progress Dr. Maik Piehler (K9 & PhD) Managing Director | Stadtwerke Leipzig GmbH https://www.hhl.de/experience/career/ Thomas Klein (P3) President & CEO Mercedes-Benz Cars Middle career-development/ East FZE | Mercedes-Benz AG Executive Coaching Program: our new executive coaching Mara Papsdorf (MSc3) Vice President Procurement Center of program is offering a structured coaching program (3 or 6 months) ­Excellence | Infineon Technologies for senior managers and executives Rafael Moral Santiago (K4) Managing Director, Global Banking & Markets Strategy and Planning | HSBC www.hhl.de/coaching Silvia Bergmann (K9) Partner | Bain & Company Leipzig Leadership Coaching: develop and share leadership Matthias Grass (K16) CFO Corporate Solutions | Swiss Re competencies in line with HHL’s Leipzig Leadership Model. Learn to lead with passion and purpose. Nina Kristin Pütz (K8) Head of Ratepay | Ratepay

Aneesh Bhardwaj (M17) Director Strategy & Partnerships | Siemens https://www.hhl.de/app/uploads/2020/05/ Advanta HHL-Flyer-Leadership-Coaching.pdf

Pamela Taylor (M14) Vice President Employer Branding & Talent Acquisition | Bertelsmann Mentoring of students Dominik Schütz (MSc10) Director | Stuttgart Financial Women@HHL: inspire, empower and connect: personal mentoring Helen Tacke (MSc12) Founder & Managing Director | cozero for women and access to a vivid community of female leaders Dr. Alexander Lorbeer (K3) CEO | Holtzbrinck Buchverlage GmbH https://www.hhl.de/de/hhl-erfahrung/initiativen/ Tobias Ramminger (K21) Managing Director | Raymond James womenhhl/ Volker Harbrecht (M7) Head of Disruptors eCommerce | Facebook DACH Recruiting students & fellow alumni Marion von Nell (MSc4) Director Strategy | Joyn Our Career Development and Event Management teams adapted Steffen Müller (M3) Executive Vice President/Head of Corporate its recruiting event formats and are now also offering them online. Development & M&A | Jenoptik Thanks to a variety of platforms, the events can be designed in Tobias Wolff (M10) Designated Intendant | Opera Leipzig a multifaceted manner (e. g. presentations, webinars, interactive sessions, FAQ rounds, panel discussions) and for various groups Tina Schmidt (P15) Head of Turnkey Solutions Automotive | as well as for selected participants in the context of individual Siemens interviews with recruiters. You can register for any of these events Jun.-Prof. Dr. Dominik Kanbach Junior Professor for Strategic Entrepreneurship | on our career platform JobTeaser. There you can also find HHL’s (MSc5 & PhD) HHL Leipzig Graduate School of Management Career Development team’s newly launched digital community feature to interact with each other and current students. Prof. Dr. Claudia Lehmann (PhD) Professor for Digital Innovation in Service Industries | HHL Leipzig Graduate School of https://hhl.jobteaser.com/en/users/ Management sign_in?back_to_after_login=%2F PD Dr. habil. Dorian Proksch (PhD) Assistant Professor | University of Twente

Kerstin Fliege (PMSc3) Executive Assistant | HHL Leipzig Graduate Discounts for our alumni School of Management Receive a 20 % alumni discount on all our Executive Education seminars and workshops. Visit our website to find out more:

New coaching program supports https://www.hhl.de/de/programme/executive-education/

­executives in their leadership role Send one of your employees or colleagues to take part in any of our Executive Education programs or recommend a student and to her leadership position had been make use of the available referral fee. looking to start a coaching to help her manage the transition: “Now that I have gone through the program, I can say that Get involved as alumni it has helped me incredibly to define my leadership role, set my goals and achieve If you want to be a partner in our student led consulting projects, initial success in my new role. I am glad please get in touch with our Manager Employer Relations Kathrin that I decided to be supported by the Schmidt from our Career Development team via mail: Executive Coaching Program right at the [email protected]. beginning of my new management posi- Pamela Taylor, HHL alumna (M13) and Vice President Employer Branding & Talent tion. It made my start easier and allowed Be a speaker on campus or off campus and inspire our students Acquisition at Bertelsmann me to reflect on issues with my coach. by sharing your unique experiences and knowledge. She was an excellent sparring partner Our new Executive Coaching Program for me. I can absolutely recommend this Take part in our alumni chapter meetings and become a vital is offered in collaboration with the program to anyone in a leadership posi- partof this community. renowned coaching company May & tion who wants to grow personally and Company and supports middle and sen- wants to be successful.” ior executives to sharpen their leadership Be an active member of the HHL community, a strong network focus, to define their role and to grow More details about the 3-months coach- built during your time as HHL students and spanning over personally. Pamela Taylor, HHL alumna ing and 6-months coaching program generations as you leave the university to form lifelong bonds. (M13) and Vice President Employer can be found here: At HHL, we are constantly strengthening these bonds and Branding & Talent Acquisition at Bertels- creating opportunities to enrich each other’s lives. mann, who has recently been promoted www.hhl.de/coaching 22 HHL NEWS FALL 2020

ANNIVERSARIES & NEW SUPERVISORY BOARD MEMBER

HHL Board of Trustees – 15 year anniversary of two of our members

Prof. Winfried Pinninghoff Prof. Dr. Burkhard Schwenker

Prof. Winfried Pinninghoff has been an tancy WIPCONSULTING. In addition, Prof. Dr. Burkhard Schwenker, born in Chairholder Prof. Dr. Torsten Wulf. He active supporter of HHL for many years. Prof. Winfried Pinninghoff has been 1958 in Minden, was until recently Chair- was appointed Honorary Professor of He has been a member of the board of involved in several supervisory boards man of the Advisory Council of Strategy HHL in 2008 and is an Academic Direc- trustees of HHL for 15 years and also is of medium-sized companies and foun- Consulting firm Roland Berger. He was tor of the Center for Strategy and Sce- the deputy chairman of the HHL foun- dations for over 20 years now. He also is previously Chairman of the Supervisory nario Planning at HHL, where he teaches dation. In this capacity he represents the head of the board of trustees of the Board and longstanding CEO of the and publishes on strategic management the HHL foundation in the shareholder Karl Kolle Foundation. largest strategy consultancy of Euro- with a focus on organization, strategy meetings of HHL and thus plays an inte- pean origin. Prof. Dr. Schwenker studied and business transformation. As a mem- gral part in both the strategy of HHL, its In his long lasting relation with HHL, mathematics and business administra- ber of the HHL expert commission to governance approach and its sustaina- Prof. Winfried Pinninghoff has posi- tion at the University of Bielefeld. After the Dean, Prof. Dr. Burkhard Schwen- ble funding. tively impacted our community in many completing his PhD at the Nordic Uni- ker actively contributes to the further ways. Besides his engagement through versity in Flensburg, he joined Roland development of HHL. He was born and raised in Dortmund board roles, proactive fundraising and Berger as a consultant in 1989. He is and completed his studies of physical multiplicator initiatives, he also regu- vice-chairman of the Atlantik-Brücke We thank Prof. Dr. Burkhard Schwenker engineering at the University of Hagen larly supports students of HHL directly and chairs the board of Trustees of the for his continued bonds to HHL and the in 1975. After more than 30 years with and indirectly through e. g. scholarships ZEIT-Stiftung. ongoing active support in his various SIEMENS AG, latest as the regional head and start-up awards as well as through roles! of Siemens in Leipzig and the Siemens other financial and non-financial contri- Prof. Dr. Burkhard Schwenker has been Region East Industrial Solutions head, butions. We are grateful for his service a member of the HHL board of trustees Prof. Pinninghoff has been active as a to HHL and congratulate Prof. Winfried for 15 years now. From the beginning on, freelance entrepreneur since 2007. He Pinninghoff for his 15 years anniversary he also participated in teaching engage- is the founder of management consul- with HHL! ments and research initiatives with HHL

New member of HHL’s Supervisory Board

Board of the HHL Foundation (fltr): Prof. Winfried Pinninghoff, Dr. Gerd Robertz, Former Prime Minister Prof. Dr. Georg Milbradt Dr. Julian Deutz

Dr. Julian Deutz, born 1968, stud- Dr. Julian Deutz has been with Axel ied business administration at the Springer since 2004. After serving as WHU – Otto Beisheim School of CFO of Axel Springer International, Management, Koblenz, as well as at he became Head of Corporate Con- Georgetown University/USA and in trolling/Corporate Development. He Aix-en-Provence/France. He began became a member of the Manage- his career in 1994 in strategy con- ment Board in January 2014 and sulting at OC&C Strategy Consult- has been Chief Financial Officer and ants. In 1996, he took over as Head Chief Human Resources Officer since of Finance/Controlling of the Steil- April 2014. mann Group. After holding posi- tions as Head of M+A/Investor Rela- We are very grateful for Dr. Julian tions at Pixelpark AG and as CFO at Deutz joining HHL’s Supervisory Venturepark AG, he returned to the Board and a looking forward to his Steilmann Group as CFO in 2001. contributions.

Prof. Winfried Pinninghoff amongst students at HHL www.hhl.de HHL NEWS FALL 2020 23

LIFE AT HHL 24 HHL NEWS FALL 2020

EVENT CALENDAR

Stay informed Get into www.hhl.de/events the HHL spirit!

Meet us @HHL & get a taste of our part-time MBA lectures in Leipzig

20 November 2020 Organizational Behavior Prof. Dr. Timo Meynhardt | 4 p.m.

4 December 2020 International Accounting Prof. Dr. Henning Zülch | 4 p.m.

18 December 2020 Finance Dr. Benjamin Hammer | 4 p.m.

25 November 2020 25 November 2020 & 16 December 2020 3 December 2020 Virtual Taster Lecture HHL Expert Talks Sneak Peek: In Pursuit of the Negotia- “Turn Information Into Action – tion Intelligence or How to Build, Asses Big Data Analytics in Finance” and Compare Negotiation Skills

Seize the opportunity and broaden your perspec- The HHL Expert Talk is a virtual talk series with Negotiation has been regularly ranked as one of tive. HHL invites you to a virtual taster lecture on which HHL aims to address latest key topics in re- the most important skills of successful managers “Turn Information Into Action – Big Data Analyt- search to broaden a knowledge transfer on cur- and entrepreneurs. HHL has been one of the pio- ics in Finance” with Dr. Markus Brendel. rent social, economic and politial issues led by neers in this field in Germany, offering negotiation This webinar gives you a flavor of how machine HHL experts. On 25 November 2020 Prof. Dr. courses for almost 20 years of its modern histo- learning algorithms can help tackle complex tasks Tobias Dauth will provide insights into the topic ry. In our open lecture, led by Prof. Dr. Remigiusz and challenges in the field of finance. Out of an of “New Work” and on 16 December 2020 Prof. Smolinski, we will introduce the concept on ne- abundance of possible applications, we will show- Dr. Timo Meynhardt will speak about “How to fol- gotiation intelligence, discuss how to develop, as- case a few distinct examples that demonstrate low the Leipzig Leadership Model in practice”. sess and compare it. We will also discuss the role how much joy is in mastering large amounts of These talks will be moderated by Sigrid Fischer, competitions play in negotiation pedagogy and data. We don’t just talk about big data and ma- HHL’s Manager Alumni Relations. explain why participating in them is an important chine learning, we reveal the opportunities of the element of developing negotiation skills. digital world.

16 December 2020 22 March 2021 Application Virtual Taster Lecture “Mastering a Enrollment Ceremony VUCA World – How Simulations and Deadlines Real Options Can Help to Make Better Decisions” HHL Leipzig Graduate School of Management Full-time M.Sc. Program warmly welcomes the students of classes P17 of 20 June 2021 Then HHL invites you to a virtual taster lecture the MBA program and the new doctoral students. 31 May 2021 (non-EU candidates) on “Mastering a VUCA World – How Simulations Of course, all spring term exchange students and Real Options Can Help to Make Better Deci- are also invited to the festive ceremony. The Part-time M.Sc. Program sions” with Dr. Masimilian Schreiter. enrollment is followed by a “Welcome Week” for 20 June 2021 VUCA (Volatility – Uncertainty – Complexity – Am- all students. biguity) is everywhere nowadays and managers Full-time MBA Program need to find new answers to the challenges of to- 30 June 2021 morrow. Our webinar gives an overview on cases 31 May 2021 (non-EU candidates) where traditional corporate finance tools fail and presents new solutions. Part-time MBA Program 15 January 2021