R&D ANNUAL REPORT 

2016

FACULTY AND RESEARCH

ESMT Berlin published 25 peer-reviewed articles in the most influential academic journals including Administrative Science Quarterly, American Economic Review, Journal of Marketing, Management Science, and Operations Research. ESMT authors received 8 publication-related awards.

The Pühringer Foundations generously supported ESMT with a 10 million Euro capital stock portfolio to be used over a two-year period.

ESMT awarded its first PhD degree to Johannes Johnen, who was placed at Université catholique de Louvain as an assistant professor. Contents

Preface ...... 1

Faculty and their research interests ...... 2

New hires and promotions ...... 2 Full-time academic faculty ...... 3 Full-time managerial faculty ...... 4 Affiliate and emeriti professors ...... 4

Publications ...... 5

Peer-reviewed articles ...... 5 Non peer-reviewed articles ...... 7 Working papers ...... 7 Books ...... 8 Book chapters ...... 8 ESMT Case Studies Series ...... 9 ESMT White Paper Series ...... 9 Other publications ...... 9

Editorial activities ...... 10

Chairs ...... 11

Events ...... 12

Research seminars and academic presentations ...... 12 Conferences, workshops, and roundtables ...... 14 ESMT Open Lectures ...... 15 Centers and institute events ...... 16

Grants ...... 23

Centers and institutes ...... 26

Center for Leadership Development Research (CLDR) ...... 26 Center for Financial Reporting and Auditing (CFRA) ...... 27 Center for Sustainable Business (CSB) ...... 28 Interview with Prof . CB Bhattacharya ...... 29 German Tech Entrepreneurship Center (GTEC) ...... 30 Digital Society Institute (DSI) ...... 31

PhD program ...... 33

Research lab and research staff ...... 35

Research conferences and seminar presentations ...... 36

Research visitors ...... 39 1 

Preface

In accordance with the mission of the nizational behavior. Previously he was an school, the role of research at ESMT Berlin assistant professor at INSEAD. Further- is to develop and disseminate new knowl- more, Johannes Habel and Urs Müller were edge, to foster sustainable economic both promoted to the lecturer faculty posi- growth, and to help business leaders suc- tion in 2016. ceed globally and act responsibly. After the additions from 2015 the Research at ESMT aims at having a sig- centers and the institute proceeded to nificant impact at the highest academic develop in 2016 by adding: 1 new director, level. In 2016, ESMT faculty members pub- 7 researchers, and 2 staff members and in Tamer Boyaci lished 25 peer-reviewed journal articles of total all four centers and the institute held Professor of Management Science, which 12 were published in the most influ- a total of 69 events. For an overview of Michael Diekmann Chair in Management ential A+ journals such as Administrative these events, please see page 12. Science, and Director of Research Science Quarterly, American Economic In area of PhD studies, Johannes Johnen Review, Journal of Marketing, Manage- graduated and was placed at the Unversité ment Science, and Operations Research. catholique de Louvain as an assistant pro- The school’s mission is also reflected in fessor. the numerous organized research events, This report further details the ESMT which help to stimulate intellectual research output and achievements in exchange: 9 conferences and 38 research 2016. I hope you enjoy reading it! seminars, where scholars from some of the most prestigious schools presented their research, and 7 open lectures with opinion leaders from both academia and industry. Further events were organized by the cen- ters and the institute. ESMT hired two new professors in addi- tion to two internal promotions to faculty positions, strengthening the faculty to 37 members from 19 countries. Gianluca Carnabuci, formerly an associate profes- sor of organization and management at the University of Lugano, joined ESMT as an associate professor of organizational behavior. As well, Martin Schweinsberg started as an assistant professor of orga-  2

37 faculty members (as of 12/31/16)

19 nations

5 females

Faculty and their research interests

ESMT Berlin recruits, develops, and promotes a diverse and international world-class faculty. The school strives to build a productive environment that supports rigorous, deep, and original research aimed at top academic publications. Industry backing provides further opportunities to generate ideas with a strong practical impact that also feed substantial insights into creative teaching approaches.

New hires and promotions

Gianluca Carnabuci Associate Professor of Organizational Behavior Gianluca joined ESMT Berlin in 2016 as a tenure-track associate professor of organizational behavior. Previously he was an associate professor of organization and management at the University of Lugano and an assistant professor at Bocconi University. He holds a PhD in social and behavioral sciences from the University of Amsterdam.

Johannes Habel Lecturer and Program Director Johannes was promoted in 2016 to the faculty rank of lecturer. He joined ESMT in 2014 developing and teaching in executive education. His research focuses on sales and marketing management.

Urs Müller Lecturer and Head of the Practice Group Consumer Goods and Retail In 2016 Urs was promoted to the faculty rank of lecturer. He joined ESMT in 2005 working extensively in executive education and customized solutions. His research and teaching focus on the domain of business ethics. He is also a best-selling and award winning case author and visiting tutor for case writing and teaching.

Martin Schweinsberg Assistant Professor of Organizational Behavior Martin joined ESMT Berlin in 2016 as a tenure-track assistant professor of organizational behavior. Previously he was an assistant professor at INSEAD. Martin obtained his PhD from London Business School and also holds a MSc (cum laude) and a BSc (cum laude) in psychology from the University of Amsterdam. 3 

Full-time academic faculty

Zoltán Antal-Mokos (Hungary) Linus Dahlander (Sweden) Xu Li (China) Professor of Strategy and Dean of Degree Associate Professor of Strategy, KPMG Assistant Professor of Strategy Programs Chair in Innovation Business strategy, organizational theory, Corporate strategy, strategic rationale Network dynamics, communities, and and innovation for mergers and acquisitions, post-merg- open and distributed innovation er integration, and privatization Rainer Nitsche (Germany) Francis de Véricourt (France) Research Fellow, ESMT Berlin and Sumitro Banerjee (India) until 11/30/16 Professor of Management Science Managing Director, E.CA Economics Associate Professor of Marketing Managerial decision making, operations Industrial organization, competition eco- Timing of launch, R&D investments, in- research, sustainability, and health care nomics, digital strategy, M&A troduction strategies for successive new products, and multinational marketing Hans W. Friederiszick (Germany) Per Olsson (Sweden) Research Fellow, ESMT Berlin and Professor of Accounting and Academic Özlem Bedre-Defolie (Turkey) Managing Director, E.CA Economics Director of the Center for Financial Assistant Professor of Economics Applied microeconomics and industrial Reporting and Auditing Applied microeconomics, industrial orga- organization (competition economics) Financial reporting, capital markets re- nization, and competition economics search, valuation research, corporate Michał Grajek (Poland) governance, and international account- ing differences CB Bhattacharya (India/USA) Associate Professor of Economics and Professor of Marketing, Pietro Ferrero Director of Research Francine Petersen (Brazil/Poland) Chair in Sustainability, and Founding Applied econometrics, industrial organi- Director of the Center for Sustainable zation, international economics, law and Associate Professor of Marketing Business economics, economics of networks, com- Consumer affect (emotions, mood, sub- Business strategy innovation, CSR, sus- petition policy, and ICT jective experiences), consumer psychol- tainability, stakeholder engagement, ogy and behavior, and luxury marketing marketing strategy, and corporate iden- Laura Guillén (Spain) tity and reputation Assistant Professor of Organizational Jörg Rocholl (Germany) Behavior President, Professor of Finance, and EY Matthew S. Bothner (USA) Leadership and leader identity, motiva- Chair in Governance and Compliance Professor of Strategy, Deutsche Telekom tion to lead, gender, diversity, authentic- Corporate finance, impact of political Chair in Leadership and HR Development, ity, dark side of leadership, social percep- connections on firm value, and function- and Acting Director of PhD Studies tions at work, and coaching practices ing of the interbank lending market Measurement and consequences of so- cial status in venture capital, professional Paul Heidhues (Germany/USA) until Martin Schweinsberg (Germany) sports, and higher education 09/30/16 Assistant Professor of Organizational Professor of Economics, Lufthansa Chair Behavior Tamer Boyaci (Canada/Turkey) in Competition and Regulation, and Negotiation, organizational behavior Professor of Management Science and Director of PhD Studies Michael Diekmann Chair in Management Behavioral industrial organization, compe- Science Catalina Stefanescu-Cuntze (Romania/ tition policy, consumer protection, behav- UK) Supply chain management, sustainable ioral economics, and applied game theory operations, remanufacturing, retail op- Professor of Management Science, Deutsche Post DHL Chair, and Dean of erations, marketing operations inter-face, Rajshri Jayaraman (Canada/India) pricing, and assortment optimization Faculty Associate Professor of Economics, Faculty Credit and financial risk, managerial de- Lead of the Full-time MBA Program, and Gianluca Carnabuci (Italy) cision making, revenue management, Karl-Heinz Kipp Chair in Research forecasting, statistics, and operations re- Associate Professor of Organizational Development economics, labor economics search, banking (liquidity, crises, system- Behavior ic risk, regulation) Leadership, networks, organizational be- Konstantin Korotov (Germany) havior, organizational design, strategy, Stefan Wagner (Germany) Social capital Associate Professor of Organizational Behavior and Director of the Center for Associate Professor of Strategy Leadership Development Research (CLDR) Economics of technology and innovation, Psychological burdens of modern leader- intellectual property rights (patent pro- ship, leadership development, career dy- tection), and innovation management namics, and executive coaching  4

Full-time managerial faculty

Guillermo Baquero (Ecuador) Jan U. Hagen (Germany) Joe Peppard (Ireland) Associate Professor and Faculty Lead of Associate Professor Professor the Master’s in Management Program Error management, crisis management, Digital strategy, digital transformation, Hedge and mutual funds, the behavior of impact of leadership styles, and com- change management, IT leadership, in- hedge fund investors, behavioral finance, munication patterns on performance of novation, IT strategy and management and experimental economics flight crews strategy, management education, and in- formation systems Christoph Burger (Germany) Ulrich Linnhoff (Germany) Senior Lecturer and Senior Associate Lecturer and Head of USW Netzwerk Olaf Plötner (Germany) Dean of Executive Education Programs Professor and Dean of Executive Energy sector, innovation, blockchain, Accounting, performance measurement, Education and decision making/negotiation controlling, private equity, and business Strategic management, B2B marketing, simulations and international sales management in Johannes Habel (Germany) technology-based B2B markets Lecturer and Program Director Urs Müller (Germany/Switzerland) Brand strategy, consumer behavior, cus- Lecturer and Head of the Practice Group tomer relationship management, incen- Consumer Goods and Retail tives, marketing, negotiation, sales force Business ethics, case study method, management (in industrial markets), change management, consumer goods, strategic marketing, technology-based corporate responsibility, corruption, in- industries tercultural management, pricing policy, retail sector, stakeholder management, sustainability

Affiliate and emeriti professors

Derek F. Abell (UK) Paul Heidhues (Germany/USA) (as of Wulff Plinke (Germany) Professor Emeritus and Founding October 1, 2016) Professor Emeritus and Founding Dean President Distinguished Affiliate Professor Business strategy in industrial markets, Strategic marketing, general manage- Behavioral industrial organization, com- market-oriented management, relation- ment, and leadership in technology- petition policy, consumer protection, be- ship marketing, pricing in industrial mar- based industries havioral economics, and applied game kets, and market-based accounting theory Stanley Baiman (USA) David T. Robinson (USA) Distinguished Affiliate Professor Manfred F. R. Kets de Vries (The Distinguished Affiliate Professor Netherlands) Accounting, auditing, capital budgeting, Corporate responsibility, entre­preneur­ incentive contracts, managerial account- Distinguished Affiliate Professor ship, finance, innovation (incl. strategic ing, and organizational design Leadership and the dynamics of individu- innovation, technology-enabled innova- al and organizational change tion), private equity, venture capital Francis Bidault (France) Professor Emeritus Kai Konrad (Germany) Technology strategy, new product devel- Distinguished Affiliate Professor opment, and technology partnerships European finance constitution, European sovereign debt crisis, German finance constitution, and international taxation 5 

25 published peer reviewed articles 12 A/A+ articles

12 forthcoming peer reviewed articles 6 A/A+ articles

11 non-peer reviewed articles

13 working papers

3 books

11 book chapters

3 cases

2 white papers Publications 8 other publications

As a research-led international business school, ESMT Berlin publishes in international academic journals, which are first-class in their respective fields. Research also provides cutting-edge and profound insights for the business community as well as the classroom through managerial publications and case studies. This rare integration of research and practice makes ESMT an outstanding location for generating relevant and ground- breaking knowledge.

Peer-reviewed articles

Forthcoming Francis Bidault, José de la Torre, Stelios Paola Criscuolo, Linus Dahlander, Zanakis, Peter Smith Ring Thorsten Grohsjean, Ammon Salter Willingness to rely on trust in global busi- Evaluating novelty: The role of panels in John-Paul Ferguson, Gianluca Carnabuci ness collaborations: Context vs. demog- the selection of R&D projects Risky recombinations: Institutional gate- raphy Academy of Management Journal keeping in the innovation process Journal of World Business Organization Science  2016 Jürgen Hauschildt Award, Paul Heidhues, Botond Kőszegi Wissenschaftliche Kommission Eric Quintane, Gianluca Carnabuci für Technologie, Innovation und Naivete-based discrimination Entrepreneurship im VHB How do brokers broker? Tertius gaudens, The Quarterly Journal of Economics tertius iungens, and the temporality of  Best-Paper-Award “Innovation structural holes Management” 2016, EBS Universität Organization Science Marcel Bogers, Ann-Kristin Zobel, für Wirtschaft und Recht Allan Afuah, Esteve Almirall, Sabine Brunswicker, Linus Dahlander, et al. Thomas Hildebrand, Manju Puri, Jörg Alexei Alexandrov, Özlem Bedre-Defolie The open innovation research landscape: Rocholl LeChatelier-Samuelson principle in games Established perspectives and emerging Adverse incentives in crowdfunding and pass-through of shocks themes across different levels of analysis Management Science Journal of Economic Theory Industry and Innovation Xiaofeng Nie, Tamer Boyaci, Saibal Ray, Jörg Rocholl, Alexander Popov Joe Peppard Mehmet Gumus, Dan Zhang Do credit shocks affect labor demand? Rethinking the concept of the IS organi- Joint procurement and demand-side bid- Evidence for employment and wages dur- zation ding strategies under price volatility ing the financial crisis Information Systems Journal Annals of Operations Research Journal of Financial Intermediation Paul Heidhues, Botond Kőszegi, Takeshi Murooka Inferior products and profitable decep- tion Review of Economic Studies  6

Published Anthony Gerth, Joe Peppard Saed Alizamir, Francis de Véricourt, Peng The dynamics of CIO derailment: How CIOs Sun Johannes Habel, Sascha Alavi, Christian come undone and how to avoid it Efficient feed-in-tariff policies for renew- Schmitz, Janina-Vanessa Schneider, Jan Business Horizons 59(1): 61–70 able energy technologies Wieseke Operations Research 64(1): 52–66 When do customers get what they ex- Daniel Korschun, CB Bhattacharya, Scott pect? Understanding the ambivalent ef- Swain Jing Zhu, Tamer Boyaci, Saibal Ray fects of customers’ service expectations on satisfaction CSR and the frontline context: How social Effects of upstream and downstream programs improve customer service mergers on supply chain profitability Journal of Service Research 19(4): 361–379 GfK Marketing Intelligence Review 8(1): European Journal of Operational Research 24–29 249(1): 131–143 Michael Melles, Rainer Nitsche Multiple rounds in a chain store game Noah Askin, Matthew Bothner Paul Heidhues, Botond Köszegi, Takeshi Theory and Decision 81(4): 571–579 Status-aspirational pricing: The “Chivas Murooka Regal” strategy in US higher education, Exploitative innovation Sylvain Béal, André Casajus, Frank Hüttner 2006–2012 American Economic Journal: On the existence of efficient and fair Administrative Science Quarterly 61(2): Microeconomics 8(1): 1–23 extensions of communication values for 217–253 connected graphs Sankar Sen, Shuili Du, CB Bhattacharya Economics Letters 146(9): 103–106 Sylvain Béal, André Casajus, Frank Corporate social responsibility: A con- Hüttner, Eric Rémila, Philippe Solal sumer psychology perspective Martin Schweinsberg, Nikhil Madan, Characterizations of weighted and equal Current Opinion in Psychology 10: 70–75 Michelangelo Vianello, et al. division values The pipeline project: Pre-publication in- Theory and Decision 80(4): 649–667 Tonci Grubic, Joe Peppard dependent replications of a single labora- tory’s research pipeline Servitized manufacturing firms compet- Hans Friederiszick, Ela Głowicka ing through remote monitoring technol- Journal of Experimental Social Psychology Competition policy in modern retail mar- ogy: An exploratory research 66(5): 55–67 kets Journal of Manufacturing Technology Journal of Antitrust Enforcement 4(1): Management 27(2): 154–184 Warren Tierney, Martin Schweinsberg, 42–83 Eric Luis Uhlmann, et al. Linus Dahlander, Siobhan O‘Mahony, Data from a pre-publication independent Shouqiang Wang, Peng Sun, Francis de David Gann replication initiative examining ten moral Véricourt judgement effects One foot in, one foot out: How does indi- Inducing environmental disclosures: A dy- viduals’ external search breadth affect Scientific Data 3, Article number: 160082 namic mechanism design approach innovation outcomes? Operations Research 64(2): 371–389 Strategic Management Journal 37(2): Zhike Lei, Mary Waller, Jan Hagen, Seth 280–302 Kaplan Dietmar Harhoff, Georg von Graevenitz, Team adaptiveness in dynamic contexts: Stefan Wagner Johannes Habel, Laura Schons, Sascha Contextualizing the roles of interaction Conflict resolution, public goods and pat- Alavi, Jan Wieseke patterns and in-process planning ent thickets Warm glow or extra charge? The ambiva- Group and Organization Management Management Science 62(3): 704–721 lent effect of corporate social responsi- 41(4): 491–525 bility activities on customers’ perceived  Best Paper Award, TU Darmstadt price fairness Margarita Mayo, Daan van Knippenberg, Journal of Marketing 80(1): 84–105 Laura Guillén, Shainaz Firfiray Rajshri Jayaraman, Debraj Ray, Francis de Véricourt Team diversity and categorization salience: Rainer Nitsche, Lars Wiethaus Anatomy of a contract change Capturing diversity-blind, intergroup bi- Efficiencies defence in telecom mergers ased, and multicultural perceptions American Economic Review 106(2): and other investment intensive indus- Organizational Research Methods 19(3): 316–358 tries 433–474  KfW Research Prize for Excellence, KfW European Competition Law Review 37(1): Bank aus Verantwortung 7–13 Xiao Huang, Tamer Boyaci, Mehmet Gumus, Saibal Ray, Dan Zhang Stefan Wagner, Simon Wakeman United we stand or divided we stand? What do patent-based measures tell us Strategic supplier alliances under order about product commercialization? Evi- default risk dence from the pharmaceutical industry Management Science 62(5): 1297–1315 Research Policy 45(5): 1091–1102 7 

Non peer-reviewed articles

English Urs Müller, Ulf Schäfer Christoph Burger, Jens Weinmann The Dirty Dozen: How unethical behav- How the ‘Big Beyond’ will change busi- iour creeps into your organisation ness models of utilities Christoph Burger, Andreas Kuhlmann, Philipp Richard, Jens Weinmann The European Business Review July/ Oxford Energy Forum 26(104): 8–11 August: 37–41 The impact of blockchain on the energy sector – expectations from German en- ergy executives Joe Peppard Non-English European Business Review A tool to map your next digital initiative Martin Schallbruch Harvard Business Review Joe Peppard Die EU-Richtlinie über Netz- und Informa- tionssicherheit: Anforderungen an digi- A tool for balancing your company’s digi- Johannes Habel tale Dienste [The EU directive on network tal investments Managing customer satisfaction better and information security: Requirements Harvard Business Review The European Business Review May/June: for digital services] 52–54 Computer und Recht 10: 663–670 Christoph Burger, Jens Weinmann Germany’s RWE and E.ON splitting: Will Joe Peppard Johannes Habel they prosper? Where do you begin with your (big) data Statistik: Einfluss auf das Ergebnis [Sta- EEnergy Informer 26(10): 10–12 initiative? tistics: Influence on results] The European Business Review May/June: Harvard Business Manager 1: 49 Paul Polman, CB Bhattacharya 19–25 Engaging employees to create a sustain- able business Stanford Social Innovation Review 14(4): 34–39

Working papers

ESMT series Katja Kisseleva, Daniela Lorenz Non-ESMT series Are level 3 fair values reflected in firm value? Evidence from European banks Özlem Bedre-Defolie, Gary Biglaiser Elizabeth Florent-Treacy, Konstantin ESMT No. 16–03 Contracts as a barrier to entry in markets Korotov, Caroline Rook with non-pivotal buyers Manfred F. R. Kets de Vries: Playing the ESMT No. 15–02 (R1) Frank Hüttner, Tamer Boyaci, Yalçın Morosophe Akçay INSEAD No. 2016/73/EFE Consumer choice under limited attention Alexei Alexandrov, Özlem Bedre-Defolie when options have different information Tanika Chakraborty, Rajshri Jayaraman LeChatelier-Samuelson principle in games costs and pass-through of shocks Impact of school feeding on cognitive ESMT No. 16–04 (R1) ESMT No. 15–03 (R1) skills: Evidence from India’s midday meal scheme Joseph Clougherty, Michał Grajek, Oz Shy Tamer Boyaci, Yalçın Akçay CESifo Working Paper No. 5994 Taking ‘some’ of the mimicry out of the Pricing when customers have limited at- adoption process: Quality management Jörg Rocholl, Lei Zicheng, Rui tention and strategic substitution Albuquerque, Chendi Zhang ESMT No. 16–01 (R1) ESMT No. 16–05 Institutional investors and corporate po- litical activism Tamer Boyaci, Vedat Verter, Michael Julian Runge, Stefan Wagner, Jörg Galbreth European Corporate Governance Institute Claussen, Daniel Klapper (ECGI) – Finance Working papers Design for reusability and product resuse Freemium pricing: Evidence from a large- 470(2016) under radical innovation scale field experiment ESMT No. 16–02 ESMT No. 16–06  8

Jörg Rocholl, Falko Fecht, Kjell Nyborg, Tobias Berg, Manju Puri, Jörg Rocholl Jiri Woschitz Loan officer incentives and the limits of Collateral, central bank repos, and sys- hard information temic arbitrage AFA 2013 San Diego Meetings Paper, Swiss Finance Institute Research Paper Revised No. 16-66

Books

Joe Peppard, John Ward Non-English Peter Kajüter, Walther Busse von Colbe, The strategic management of informa- Adolf Coenenberg, Peter Kajüter, Ulrich tion systems: Building a digital strategy Linnhoff, Bernhard Pellens Bernd Fischl, Stefan Wagner London: Wiley 管理学概论:非管理类知识背景高级经理 Der perfekte Businessplan [The perfect 通用 [Business administration for man- business plan] agers: An introduction for engineers, Munich: C.H. Beck scientists, lawyers, and scholars of the humanities] Shanghai: 上海财经大学出版社 [Shanghai University of Finance and Economics Press]

Book chapters

Forthcoming Published Urs Müller, Shirish Pandit Vodafone in Egypt: National crises and Joe Peppard Konstantin Korotov their implications for multinational cor- porations (Egypt) Digital capability: Scaffolding for rewiring Coaching for leadership development In International management: Managing a company for digital In The Sage handbook of coaching, ed. T. across borders and cultures, text and In The Routledge companion to Bachkirova, G. Spence, D. Drake. Thousand cases, ed. H. Deresky. New Jersey: management information systems, Oaks: Sage. Prentice Hall. ed. R. Galliers, M. Stein. Oxfordshire: Taylor&Francis. Carol Kelleher, Aonghus Céilleachair, Anu Helkkula, Joe Peppard Non-English Martin Schallbruch Value proposal co-creation in online com- The European network and information munity-based idea contests Jan Hagen security directive: A cornerstone of the In Innovating in practice: Perspectives Fehlermanagement [Error management] digital single market and experiences, ed. T. Russo-Spena, In Digital marketplaces unleashed, ed. C. Mele, M. Nuutinen, 291–316. Cham: In Lexikon Qualitätsmanagement, C. Linnhoff-Popien, R. Schneider, M. Springer International Publishing. ed. H.-D. Zollondz, M. Ketting, R. Zaddach. Heidelberg: Springer-Verlag. Pfundtner, 315–318. Munich: De Gruyter Oldenbourg. Urs Müller, Martin Kupp Georg T. Becker, Marc Fyrbiak, Christian Combining case teaching and case writing Johannes Habel Kison creatively Hardware obfuscation: Techniques and Die richtigen Schlüsse ziehen [Drawing In Case studies as a teaching tool in man­ the right conclusions] open challenges a­­­­­ge­ment education, ed. D. Latusek, 121– In Foundations of hardware IP protection, 140. Hershey, Pennsylvania: IGI Global. In Jahrbuch Markt- und Sozialforschung ed. L. Bossuet, L. Torres. New York: Schweiz 2016, 12–15. Alpnach: vsms Springer International Publishing. – Verband Schweizer Markt- und Christoph Burger, Jens Weinmann Sozialforschung. European utilities: Strategic choices and Sezen Aksin-Sivrikaya, CB Bhattacharya cultural prerequisites for the future Where digitalization meets sustain­ In Future of utilities – utilities of the ability: Opportunities and challenges future: How technological innovations in In Sustainability in a digital world, ed. distributed energy resources will reshape T. Osburg, C. Lohrmann. Cham: Springer the electric power sector, ed. F. Sioshansi, International Publishing. 303–321. Waltham, MA: Academic Press. 9 

ESMT Case Studies Series

Ulf Schäfer Urs Müller Francis de Véricourt Dr. Semmelweis at Vienna General Hos- Corruption in Russia: IKEA’s expansion to Global Express pital the East (A–D) ESMT–616–0173–1 ESMT–416–0168–1 ESMT–716–0169–1 ESMT–716–0170–1 ESMT–716–0171–1 ESMT–716–0172–1

ESMT White Paper Series

Hans Friederiszick, Steffen Reinhold, Juri Jörg Rocholl, Axel Stahmer Demuth Where did the Greek bailout money go? Rekommunalisierung und Wettbewerb ESMT No. WP–16–02 in der Entsorgungswirtschaft: Trends, Erklärungen und wettbewerbspolitische Implikationen ESMT No. WP–16–01

Other publications

Olaf Plötner Alexander Wild, Georg T. Becker, Tim Gerard George, Linus Dahlander, Scott Cost traps in business models 4.0 Güneysu Graffin, Samantha Sim (English, German and Chinese versions) On the problems of realizing reliable and From the Editors: Reputation and status: efficient ring oscillator PUFs on FPGAs Expanding the role of social evaluations ESMT Berlin IEEE International Symposium on in management research Hardware Oriented Security and Trust – Academy of Management Journal 59(1): Christoph Burger, Andreas Kuhlmann, HOST 2016 1–13 Philipp Richard, Jens Weinmann Blockchain in the energy transition. A Johannes Habel, Laura Schons, Sascha Rajshri Jayaraman survey among decision-makers in the Alavi, Jan Wieseke German energy industry Book review: An economist in the real Customers often believe that suppliers world: The art of policy making in India (English and German versions) who engage in CSR charge unfair prices Journal of Economic Literature 54(2) ESMT Berlin LSE Business Review

Samaneh Ghandali, Georg T. Becker, Donald Marchand, Joe Peppard Daniel Holcomb, Christof Paar Technology isn’t enough to empower A design methodology for stealthy employees, even in a digital world parametric trojans and its application to bug attacks Harvard Business Review Cryptographic Hardware and Embedded Systems – CHES 2016  10

Editorial activities

CB Bhattacharya Sandro Gaycken Per Olsson Editorial Review Board Member: Editor-in-Chief: SpringerBriefs on Associate Editor: Accounting and Corporate Reputation Review, Business Cybersecurity Business Research Ethics Quarterly, International Journal Editorial Board Member: Accounting in of Research in Marketing, Journal of the Michał Grajek Europe, European Accounting Review, Academy of Marketing Science, Business Journal of Business Finance and and Society, Journal of Public Policy and Associate Editor: Information Economics and Policy Accounting, The Accounting Review, The Marketing Review of Accounting Studies

Laura Guillén Francis Bidault Joe Peppard Editorial Board Member: Hi-tech Editorial Board Member: Academy of Management Learning and Education Associate Editor: International Journal on Marketing Review, Business Management IT/Business Alignment and Governance Review, Société Française de Management Editorial Board Member: European Paul Heidhues Management Journal, Journal of Strategic Advisory Editor: Games and Economic Information Systems, MIS Quarterly Tamer Boyaci Behavior Executive Senior Editor: Production and Operations Associate Editor: Journal of Economic Management Theory Martin Schallbruch Associate Editor: Decision Sciences Book Editor: Kommentar Topical Editor: Wiley Encyclopedia of Konstantin Korotov „Verwaltungsverfahrensgesetz und Operations Research and Management Book Editor: Marketing & Management E-Government“ Science (EORMS) (Energy and Collection, Henry Stewart Talks Online Environment) Collections Catalina Stefanescu-Cuntze Editorial Board Member: Emerald Editorial Board Member: Journal of Linus Dahlander Emerging Markets Case-Studies, Journal Revenue and Pricing Management Associate Editor: Academy of of Leadership and Organizational Studies, Management Journal Revista de Gestao (REGE)

Francis de Véricourt Urs Müller Associate Editor: Manufacturing & Service Editorial Board Member: Case Folio, The Operations Management, Operations IUP Journal of Management Case Studies Research 11

Chairs

While shaping ESMT Berlin into a world-class research institution, the school focused on New chair attracting top international academic talent. One way in which the school has been able to do this has was through the creation of prestigious chairs. Since 2008, ESMT established Michael Diekmann Chair in Management Science a number of chairs in collaboration with individuals, organizations, and corporations, Tamer Boyaci, Professor of Management as noted below. The establishment of these chairs is a resounding endorsement of the Science quality of the faculty as well as a refl ection of the esteem in which their research is held. June 2016–present

Continuing and ending chairs

Karl-Heinz Kipp Chair in Research Rajshri Jayaraman, Associate Professor of Economics, Faculty Lead of the Full-time Deutsche Post DHL Chair MBA Program Pietro Ferrero Chair in Sustainability Catalina Stefanescu-Cuntze, Professor January 2016–present CB Bhattacharya, Professor of Marketing of Management Science, and Dean of and Founding Director of the Center for Faculty Sustainable Business July 2013–present November 2014–present

KPMG Chair in Innovation Linus Dahlander, Associate Professor of Strategy, Deutsche Telekom Chair in Leadership and HR Development October 2013–September 2016 Matthew S. Bothner, Professor of Strategy and Acting Director of PhD Studies July 2011–present Lufthansa Chair in Competition and Regulation N.N. Paul Heidhues, Professor of Economics and Director of PhD Studies September 2010–September 2016 EY Chair in Governance and Compliance Jörg Rocholl, President, Professor of Finance July 2013–present  12

ESMT research events

9 conferences

38 research seminars

7 open lectures

Centers/institute events

4 CFRA

4 CLDR

4 CSB 48 GTEC Events 9 DSI

Research seminars and academic presentations

The list includes the following seminar types: Faculty Research Seminars (FRS), Brown Bag Seminars (BBS), and the Berlin Finance Seminar Series (FSS). The latter is held in conjunction with the Humboldt University of Berlin.

Tim Adam (Humboldt University of Engelbert Dockner (Vienna University of Jens Hilscher (University of California, Berlin) Economics and Business) Davis) Fire-sale cascades: empirical evidence Fund promotion and individual investors’ Inflating away the public debt? An from the mutual fund industry fund flows empirical assessment

Simon Anderson (Department of Michaela Draganska (LeBow College of Selçuk Karabatı (College of Economics, University of Virginia) Business, Drexel University) Adminstrative Sciences and Economics, Competition for advertisers in media Digital content variety and customer Koç University) markets subscription behavior Maximizing revenue in sequential purchase contexts Thomas Astebro (HEC Paris) Wolfgang Drobetz (University of Hierarchies and entrepreneurship Hamburg) Maria Kasch (Humboldt University of Cyclicality of growth opportunities and Berlin) Zahn Bozanic (Fisher College of Business, the value of cash holdings Systematic risk and share turnover The Ohio State University) Securities law expertise and corporate Eliezer Fich (LeBow College of Business, Helge Klapper (University of Vienna) disclosure Drexel University) (When) can authority foster co- The effect of takeover protection on the ordination without reducing motivation? Meghan Busse (Kellogg School of value of cash: Evidence from a natural Empirical evidence from Wikipedia Management, Northwestern University) experiment Repairing the damage: The effect of Thomas Maximilian Klueter (IESE gender and price knowledge on auto- Guillermo M. Gallego (The Hong Kong Business School, University of Navarra) repair price quotes University of Science and Technology) Myopia in partnership formations Do consumers benefit from dynamic between established and startup firms: Ning Chen (ESMT Berlin) pricing? The role of R&D successes and failures When luxury benefits from CSR: An examination of loyalty to luxury hotels Manuel Hermosilla (Carey Business Timo Korkeamäki (Hanken School of School, The Johns Hopkins University) Economics) Linus Dahlander (ESMT Berlin) Imperfect outsourcing of technological CEO mobility and corporate policy risk innovations When the magic’s gone: How key player absence affects team performance 13 

Anja Lambrecht (London Business Jeanine Miklós-Thal (Simon Graduate Martin Schmalz (Ross School of School) School of Business, University of Business, University of Michigan) Advertising to early trend propagators? Rochester) Common ownership, competition, and top Evidence from Twitter Resale price maintenance in the age of management incentives showrooming Marc Lerchenmueller (Yale School of Moritz Schularick (Bonn Graduate School Management) Kim Pettersson (Department of of Economics, University of Bonn) The gender gap in early career transitions Accounting and Auditing, Copenhagen Leveraged bubbles in the life sciences: Differences in Business School) productivity vs. differential returns to Auditor liability caps, auditing Eduardo Schwartz (Anderson School of productivity? enforcement, and asymmetric economic Management, University of California at consequences Los Angeles) Xu Li (ESMT Berlin) Optimal carbon abatement in a stochastic From war to medicine: Environmental Akshay R. Rao (Carlson School of equilibrium model with climate change imprinting and adaptation in the Management, University of Minnesota) traditional Chinese medicine industry Choice persistence: The impact of choice Rik Sen (The Hong Kong University of set structure on choice stability Science and Technology) Benny Mantin (Department of Inside brokers Management Sciences, University of Avri Ravid (Yeshiva University) Waterloo, Canada) Intellectual property contracts: Theory Yuri Tserlukevich (W.P. Carey School of P2P marketplaces and retailing in the and evidence from screenplay sales Business, Arizona State University) presence of consumers’ valuation Is market timing good for shareholders? uncertainty Henry Sauermann (Scheller College of Business, Georgia Institute of Margarita Mayo (Instituto de Empresa, Technology) Julian Wright (National University of Singapore) IE Business School, IE University) The division of labor in teams: A The competence-confidence gender gap: conceptual framework and application to Competition through commissions when Being competent is not always enough collaborations in science firms can free ride on advice for women to appear confident Christian Schlag (Goethe University Danielle Zhang (Norwegian Business Antonio Mello (Wisconsin School of Frankfurt) School) Business, University of Wisconsin- Does ambiguity about volatility matter CEOs’ personal portfolio and corporate Madison) empirically? policies Collateral in corporate financing  14

Conferences, workshops, and roundtables

2nd Conference on Error Management Reporting January 14–15 Two years ago, the first conference on error management was held at ESMT. It resulted in the insight that learning from mistakes is an organizational gap that needs to be filled. This time the conference focused on the reporting of mistakes and the necessity to do so, regularly and openly.

Wettbewerbssymposium: Competition & regulation in the rail sector [Wettbewerb und Regulierung im Eisenbahnsektor] January 27 It is now the 9th edition of this conference here at ESMT. Since last year it is a cooperation event of the Deutsche Bahn AG, ESMT, and DICE. Every year on the last Thursday in January, representatives from science, politics, and economics discuss the regulatory framework in the rail sector and other network industries.

6th Berlin IO Day March 10 The Berlin IO Day is a one-day workshop that occurs twice a year. It is sponsored by the Berlin Centre for Consumer Policies (BCCP) and supported by Berlin’s leading academic institutions, including DIW Berlin, ESMT Berlin, Humboldt-University of Berlin, Technical University Berlin, and WZB.

Economics of Platforms Workshop April 7–8 This two-day event dealt with markets where platforms create value by connecting two (or more) distinct groups of customers and facilitating interactions between them by lowering transaction and search costs are called two-sided markets or platform markets. Examples include many important industries, e.g., online market places such as eBay or Amazon.com, software platforms like Apple or Microsoft, and payment card networks like Visa. Economics of platforms analyze platforms’ business models, profitable strategies, as well as antitrust and regulation issues related to platforms’ business practices.

ESMT Annual Forum Digitalization. Responsible strategies for business and society June 9 The conference provided almost 400 decision-makers an insight into diverse aspects of responsible leadership in relation to digitalization and its consequences for personal and corporate cybersecurity. Furthermore, panelists, speakers, and attendees considered the impact of cybersecurity on innovation. Keynotes by top managers, including Dr. Dieter Zetsche, Chairman of the Board of Management at Daimler AG, highlighted the importance of disruptive thinking and change in the age of digital transformation. Panel discussions and interactive seminars gave Annual Forum participants the opportunity to engage in the debate and evaluate the impact of digitalization on security, and vice versa, for their own organizations and for society as a whole. 15 

Field Days 2016 Experiments outside the laboratory June 9–10 This two-day conference focused on field experiments, how they can inform our understanding of economic behavior, and what there limitations are. The covered topics included incentives in the workplace, nudges, tax compliance, social identity, and education policies in development and developed countries. Additionally it brought together senior and junior researchers to discuss and present their work.

The Price-Stability-Target in the Eurozone and the European Debt Crisis September 28 The policies of the European Central Bank and their limitations have been at the core of a debate over the viability of the Eurozone that has only intensified during the area’s current economic crisis. What is the significance of “one size does not fit all”? This conference assessed the monetary policy in the Eurozone, and addressed questions such as whether monetary policy can be separated from fiscal policy. It touched upon issues such as what are the foundations of the goal of price stability.

7th Berlin IO Day October 7 The Berlin IO Day is a one-day workshop that occurs twice a year. It is sponsored by the Berlin Centre for Consumer Policies (BCCP) and supported by Berlin’s leading academic institutions, including DIW Berlin, ESMT Berlin, Humboldt-University of Berlin, Technical University Berlin, and WZB.

Bringing Technology to Market (BTM) Conference Cost traps in innovative business models November 24–25 Professionals from B2B companies came together at ESMT Berlin for the fifth Bringing Technology to Market (BTM) Conference. This year focused on cost traps in innovative business models. Participants analyzed the cost traps for the classical industrial hardware companies offering services and those of the new service companies when attacking the hardware incumbents.

ESMT Open Lectures

Jürgen Chrobog, Diplomat, Lawyer, and former German State Secretary Uncertain times: Perspectives for a stable Europe

Rachel Empey, Chief Financial and Strategy Officer (CFO), Telefónica Deutschland Holding AG M&A and digitization: two mutually reinforcing factors

R. Edward Freeman, Elis and Signe Olsson Professor of Business Administration and Academic Director, Business Roundtable Institute for Corporate Ethics, Darden School of Business, University of Virginia The new story of business: How purpose and values are going head-to-head with profits  16

Michael Hogg, Professor of Social Psychology, Claremont Graduate University The appeal of extremist groups in times of uncertainty

Jan Mühlfeit, Former Chairman of Microsoft Europe, Global Strategist, Executive Coach, and Mentor The appeal of extremist groups in times of uncertainty

Alvin E. Roth, McCaw Professor of Economics at Stanford University and a Nobel Prize winner Who gets what and why: The new economics of matchmaking and market design

George Yip, Professor of Marketing and Strategy, Imperial College Business School, Imperial College London Strategies for innovation in China

Centers and institute events

Center for Financial Reporting and Auditing (CFRA)

Do pension obligations keep you awake at night? April 19 A closed-door event by invitation only with selected representatives from industry, politics, and the accounting profession.

Berlin Accounting Conference June 23–24 A two-day academic conference in co-operation with all Berlin universities.

Entrepreneurial Accounting Reporting by and for startups June 29 A practitioner talk by Prof. Gavin Cassar (INSEAD) followed by a panel discussion with high-profile representatives from the Berliner startup scene (Signavio, Point Nine Capital, Rocket Internet, EY).

EDEN Doctoral Seminar on Empirical Financial Accounting Research September 19–23 During this event several main research themes in contemporary empirical financial accounting research were discussed, thereby examining the historical origins, theoretical underpinnings and research methods used in leading research in each area. Further topics were the potential implications of empirical research for different groups of users of research, including accounting policy makers and regulators. Students’ abilities to identify significant research questions and appropriate empirical methods were developed with an emphasis being placed on data and institutional issues, and how these can present both constraints and opportunities for European researchers. 17 

Center for Leadership Development Research (CLDR)

3rd Russian-German Executive Coaching Colloquium Territory of success: From vulnerability to uniqueness February 21–22 The CLDR continued its cooperation with the National Research University Higher School of Economics in Moscow, Russia in exploring the challenges of a nascent discipline of executive coaching. Based on submission of practice-based coaching case-studies, the conference explored repeated regularities in success or failures of executive coaching interventions. The colloquium also invited the participants to engage in discussions of current research in the areas of leadership development and coaching.

5th ESMT OB Conference June 30–July 1 The ESMT OB Conference is a small, specialized, annual research event that takes place every summer at ESMT Berlin. It’s now the 5th edition of this event. Each year, the conference convenes outstanding, renowned, and emerging scholars in the field of OB and leadership. In 2016 the conference had 33 participants coming from top European and US Business Schools. The goal of the conference was to present original research ideas, connect with other scholars and get feedback on a variety of leadership and OB related topics.

3rd Skolkovo-ESMT Scientific and Practitioner HR Colloquium Thank you for your honesty: Using feedback in organizations December 9 The CLDR and Skolkovo Business School continued to engage HR practitioners and academics in debate on hot issues in HR and leadership development practices. Building on the methodology of the ESMT coaching colloquia, the conference provided a structured environment for analysis of today’s HR practices and a forum for bringing together academic thought and daily challenges of HR leaders.

8th ESMT/KDVI Coaching Colloquium Is it normal? December 16–17 The CLDR at ESMT Berlin and the Kets de Vries Institute (KDVI) ran for the 8th time the legendary ESMT/KDVI Coaching Collo­quium. The Colloquium continued to serve as an opportunity for academics, practicing leadership coaches, human resources and learning and development professionals, and management consultants to enhance their knowledge, skills, and networks through intensive collaboration and peer-consultation on challenging or unusual cases in the practice of executive coaching.  18

Center for Sustainable Business (CSB)

Sustainable Business Roundtable Spring Meeting Impact assessment April 20–21 Sustainable Business Roundtable (SBRT) member companies and invited guests met at ESMT Berlin to discuss the topic of impact assessment. The SBRT discussed reasons for conducting impact assessment, communicating its results, measuring more than outputs and outcomes and different methods and techniques, including monetizing. Speakers included Daniela Proust, Siemens; Alexander Cox, ERM; Adriana Rejc Buhovac, University of Ljubljana; Rashila Kerai, RobecoSAM; Matt Christensen, AXA Investment Managers; Kitrhona Cerri, World Business Council for Sustainable Development; Hendrik Fink, PwC; and CB Bhattacharya, CSB, ESMT.

GRI G4 Homecoming Event July 8 CSB hosted the GRI G4 Homecoming Event (with BSD Consulting) at ESMT Berlin.

CSB Open Lecture The new story of business September 15 Prof. R. Edward Freeman gave an open lecture at the CSB at ESMT Berlin.

Sustainable Business Roundtable Fall Meeting Stakeholder engagement November 10–11 Sustainable Business Roundtable (SBRT) member companies and the invited guests met at ESMT Berlin to discuss the topic of stakeholder engagement. The SBRT discussed benefits of stakeholder engagement, the ways of conducting stakeholder engagement and how to partner and collaborate with NGOs and other organizations, including competitors. Speakers included CB Bhattacharya, CSB; Bettina Mirabile, Enel; Jan-Willem Vosmeer, HEINEKEN; Sandra Schoonhoven, ING; Monika Kulik, Orange Poland; Donal Crilly, London Business School; Laura Marie Schons, University of Mannheim; Lars Lengler-Graiff, KEA Global; Sebastian Stricker, ShareTheMeal; Duncan Pollard, Nestlé; Tania Roach, WWF; Monique van Zijl, Oxfam; Tina Loeffelbein, Greenpeace; Rita Köster, BASF; Katie McCoy, CDP; and Rüdiger Senft, Commerzbank AG; Neil Smith, Aegon. 19 

German Tech Entrepreneurship Center (GTEC)

GTEC Innovation Awards May 17 The first GTEC Innovation Award, presented by Innogy and Globumbus, was about innovation in the blockchain field and attracted more than 100 impressive applications. The award ceremony brought together innovators, thinkers and industry players with global startups to learn about blockchain and to celebrate the most innovative ideas in this exciting field. With over €50,000 and more than 250 guests, 12 startups, 8 judges, and 2 sponsors, it made for one awesome award.

Open lectures, meetups, and workshops

Open lectures

Thomas Bachem (Serial entrepreneur, Ned Wiley: The impossible advantage of Digital video marketing strategies Founder of Bundesverband Deutsche disruption February 9 Startups e.V.) June 14 January 28 Options and how to go about registering Miriam Rupp (Founder of Mashup) a legal entity in Germany by Ecovis Verena Pausder (Founder & CEO Fox and June 16 February 25 Sheep) February 11 Nancy Birkenhölzer & Verena Augustin Joshua Cohen: Expanding your startup (IXDS) business to the US Claude Ritter (Book a Tiger, Delivery August 25 March 16 Hero) February 25 Maks Giordano: Designing the future Claudia Pelzer: Crowdsourcing October 6 April 6 Hannes Klöpper (CEO & Founder Iversity) March 10 Tilo Bonow (Founder of Piabo) Design thinking. Improve your ideas and October 26 meet entrepreneurs Maxim Nohroudi (Founder & CEO Ally) May 9 March 24 Sebastian Esser (Director Strategic Cooperations, Vertical Media GmbH) Marc Nagel: Pilotfisch Open Office Hours Mikko Alasaarela (Seven-times founder November 3 May 18 in UX & AI) April 7 BSA Open Session – Building a B2B Workshops Business Bianca Gfrei (Austria’s Founder of the May 26 Year 2016) D-School/Workshop April 21 January 23 Bastian Faulhaber & Julius Bachmann: Redstone Open Office Hours Christoph Fahle (betahaus) May 27 Startuppers 101 – Key tips for setting May 2 up your German or American tech company What DIN can do for startups? The Michael Ronen (Founder of Splash) January 27 German Standardization Institute May 19 July 18 KION workshop Lars Hinrichs (Founder of XING) February 4 Matthias Machnig: The energy market June 2 revolution meets the ministry September 5  20

Jessica Hasson: PR Bootcamp Berlin DENA energy meetup Cleanweb Berlin ft. machine learning Startup Academy March 14 meetup September 6 May 26 AgTech and FoodTech meetup Berlin Startup Academy March 16 Corporate startup meetup November 2 September 20 Berlin smart mobility meetup G-Force – workshop for startups April 12 Tim Weiss: Fireside chat Multiple times during the year October 7 Berlin AI, machine learning & NLP Leapfunder Open Office Hours students meetup Growth company forum multiple times during the year April 13 October 12

Tech music & business meetup Meetups Demo Day April 25

DENA meetup grand opening 2016 Startup safary – meet the GTEC Lab GTEC Startup Academy demoday January 15 April 28 May 17

Corporate startup meetup DENA energy meetup February 16 May 10

Digital Society Institute (DSI)

Industry 4.0 International Benchmark, Future Options and Recommendations for Production Research (INBENZHAP) January 13 Industry 4.0 plays a crucial role for the future of production, enabling also new business models. This German language workshop discussed Germany’s potential in becoming both a leading market for and a leading supplier of Industry 4.0. As an outcome of underlying research, options and opportunities for the industrial production in Germany were presented.

Inaugural Event of the Digital Society Institute February 8 The opening of the DSI at ESMT Berlin, moderated by TV journalist Cherno Jobatey, presented keynote speeches and panel discussions on the topics of digitalization of industry, cybersecurity, and human rights. Parliamentary State Secretary Brigitte Zypries accentuated central endeavors needed in politics and business in the face of increasing digitalization while State Secretary Klaus Vitt focused on the tension between security and human rights in his talk. In the subsequent panel discussions, Prof. Dr. Robert Blackburn (BASF), Dr. Stefan Heissner (EY), Dr. Martin Hofmann (Volkswagen), and Dr. Ralf Schneider (Allianz) discussed the challenges of digitalization for the German industry. Dr. Thomas Bagger (Federal Foreign Office), Michael F. Gaul (NATO) and Ambassador Prof. Dr. Wolfgang Ischinger (Munich Security Conference) finally discussed potentials and challenges of increased digitalization in the context of security and human rights. 21 

US–Germany Cyber Bilateral Meeting, Stakeholder session March 23 The fourth US–Germany cyber bilateral meeting led by the US State Department and the German Federal Foreign Office was held on March 22–23 in Washington, DC. As part of the program, a multi-stakeholder session was scheduled, and hosted by the DSI at ESMT Berlin. The agenda included discussions on cyber foreign policy issues such as international security, combating cyber crime, cyber security and critical infrastructure protection, cyber defense, Internet freedom and Internet governance.

2. Berliner Digital Dialog Neue europäische Regeln zur IT-Sicherheit – veränderte Anforderungen an Unternehmen? September 8 In this event Carsten Scholz (Allianz SE), Prof. Dr. Udo Helmbrecht (ENISA), Arne Schönbohm (BSI) and Saskia Esken (MdB), Prof. Dr. Michael Waidner (Director Fraunhofer SIT), Olaf Siemens (DCSO), Bodo Meseke (EY) and Martin Schallbruch (DSI), shared their thoughts on the recently adopted directive on security of network and information systems (NIS Directive), addressing challenges in the implementation of the directive and the effect on Europe´s capacity for innovation and competitiveness.

First Forum for IT users (event held in German at the German Bundestag) September 8 In this workshop members of the SPD Parliamentary Group discussed with DSI members and representatives from the industry, science and the unions IT security issues from the user’s perspective. After a welcome speech by Parliamentary State Secretary Brigitte Zypries, participants discussed topics such as the classification of risks, disclosure and patching processes, trustworthy computing mechanisms, software liability and quality assurance in programming. The event was held in German at the German Bundestag.

DSI Workshop Series Strategic Digitalization Part 1: Reducing software vulnerabilities October 7 DSI hosted a German language workshop dedicated to the topic of vulnerabilities at large and in particular of vulnerabilities in security products. The workshop included talks from Thomas Dullien (former Google Project Zero), Matthias Luft (ERNW), Dr. Christoph Peylo (T-Labs) and a comment from Michael Kranawetter (Head of Information Security Microsoft Germany). As an outcome of the workshop a set of recommendations targeting industry and policy was compiled and published.

The Digital Society Conference Defending democracy – Increasing innovation November 22–23 In the digital age, democracy is at risk. Military cyber attackers infiltrate democratic processes and institutions, while totalitarian states stabilize by massive surveillance and censorship, among others. International mass surveillance undermines civil and human rights and erodes trust in digitization. Knowledge and opinion in the Internet are increasingly utilized to manipulate societies on a mass scale. Economies are weakened by sabotage and espionage. More and more problems become visible, many of which could be solved by better innovation or stronger regulation.  22

This two day interdisciplinary conference shed light on the pressing issues of privacy and security. It assembled leading scientists, practitioners and decision-makers to provide insights and to propose legal, industrial and technical solutions. The outcome will be published in 2017 with Springer.

DSI Workshop Series Strategic Digitalization Part 2: Secure and data-friendly technology: Data protection and IT security requirements for technology. Feasibility, compatibility, testability December 7 In December 2016, the DSI hosted a German language workshop dedicated to the compatibility of the requirements of data protection and IT security in the configuration and design of technology. The workshop included talks from Marit Hansen (ULD Schleswig- Holstein), Tomasz Lawicki (TeleTrusT AG „Stand der Technik”), Steve Ritter (BSI) und Johannes Schlattmann (LVM). As an outcome of the workshop a set of recommendations targeting industry and policy alike was compiled and was published in December 2016.

Second Forum for IT Users December 15 In this workshop, members of the SPD Parliamentary Group and DSI discussed with industry, science, and union representatives questions related to software liability. Quality assessment processes and standards, liability for IT security products and compliance were among the topics addressed. The event was held in German at the German Bundestag.

Partner events

NATO Conference Cybersecurity Strategy Review Conference 2016 NATO February 24–28

MIT (CSAIL) Cyber Norms 4.0 Massachusetts Institute of Technology March 8–11

Tenth International Forum Partnership of State Authorities, Civil Society and the Business Community in Ensuring International Information Security (IIS-2016) ICANN – Lomonossow University April 25–28 23 

Grants

Research at ESMT Berlin continues to attract grants from various funding sources. New and continuing grants are listed below. To read more about other third-party funded areas at ESMT, please see page 12 for funded chairs and pages 20–32 on ESMT’s centers and institutes.

New grants

Leibniz Network

Supporting partner(s): Paul Heidhues, Özlem Bedre-Defolie, Rajshri Jayaraman Project title: Berlin Economics Research Associates (BERA) €731,153

The BERA program aims to support postdoctoral researchers by providing a structured career development plan. The new Berlin-wide network will take responsibility for about 60–80 researchers who are based at seven institutions. The institutions will coordinate their recruiting activities and offer guidance and career support in a multitude of ways. The program will (i) improve the quality of research and evidence-based policy advice, (ii) increase the proportion of female researchers in economics, and (iii) offer a strong network of local, national and international colleagues as support for the researchers’ career paths.

DFG Research Grant

Project leader(s): Frank Hüttner Project title: Solidarität und Leistungsgerechtigkeit in der Kooperativen Spieltheorie [Solidarity, monotonicity, and externalities in cooperative game theory] €263,500

Recently, two issues attracted a lot of attention in the literature on cooperative game theory. First, the reconciliation of solidarity and performance orientation and, second, the incorporation of externalities. The project connects to both lines of research and strives for combining insights from both parts of the literature. The Shapley value probably is the  24

most important single-valued solution concept in cooperative game theory. The Shapley value is strictly performance-oriented and disregards externalities. There exist several solutions that generalize the Shapley value and take into account aspects of solidarity. Characterizations (axiomatizations) allow for a better judgement on the plausibility of these solutions. Similarly, there exist several generalizations of the Shapley value for cooperative games with externalities. Characterizations allow for a better judgement on these generalizations. The existing generalizations are based on the assumption that a solution should satisfy linearity. DeClippel and Serrano (2008, ECTA), however, argue that this is a rather mathematical assumption, which is not too compelling. Ever since Young (1985, IJGT) showed that the Shapley value can be characterized without linearity, researchers tried to do without the assumption of linearity. Casajus and Hüttner (2014, JET) succeed to provide a characterization without linearity for solidary solutions. In this project, researchers aim to make use of these insights when dealing with externalities. This research aims for a characterization of established solutions for cooperative games with externalities that do not rely on the linearity axiom. Moreover, the researchers look for further foundations of known solution concepts. They will also study solution concepts that reflect the notion of solidarity in the case of externalities. Further, the formation of stable groups shall be studied in the context of externalities. Finally, new structural insights shall be gained by adapting recent results on cooperative games without externalities.

Stiftung Geld und Währung

Project leader(s): Jörg Rocholl Project title: The price-stability-target in the eurozone and the European debt crisis €20,000

The policies of the European Central Bank and their limitations have been at the core of a debate over the viability of the Eurozone that has only intensified during the area’s current economic crisis. What is the significance of “one size does not fit all”? This conference carefully assessed the monetary policy in the Eurozone, while addressing questions such as whether monetary policy can be separated from fiscal policy and touching upon issues such as what are the foundations of the goal of price stability.

Innovation Growth Lab/NESTA

Project leader(s): Linus Dahlander, Rajshri Jayaraman Project title: A randomized control trial of endogenous team formation and topic choice among potential entrepreneurs £50,000

In this project, the researchers investigate what makes teams effective in early-stage entrepreneurship—their composition, or the topics they explore. They implement a large-scale field experiment in a German university, whose students are required to take an introductory entrepreneurship class. At the end of this class, equal-sized teams 25 

of students must submit a business plan. The first treatment dimension in our two- by-two experimental design pertains to team composition: students are randomly assigned to either endogenous choice of or exogenous assignment to team members. The second treatment dimension applies to topic selection: students will either be allowed to select a topic of their choice or be pre-assigned to a topic. The outcome of interest will be performance on this business plan exercise and changes in entrepreneurial self- efficacy. Randomization will permit the researchers to causally identify if successful team performance rests on choosing ideas versus team members.

Peter Curtius-Stiftung

Project leader(s): Linus Dahlander, Rajshri Jayaraman Project title: A randomized control trial of endogenous team formation and topic choice among potential entrepreneurs €12,500

The project seeks to study the effect of endogenous team formation and topic choice on team performance in early-stage entrepreneurship using a randomized control trial. While extant entrepreneurship research discusses the relationship between team composition and outcomes, this research treats venture teams as given and fails to establish a causal link between the two. This is due to non-experimental settings, but also due to not investigating team formation processes and their subsequent effects. There is an implicit assumption that accelerators, incubators, science parks and other organizational arrangements are an effective way to help prospective entrepreneurs to find new collaborators in a systematic manner. Yet, without a clear understanding of what it is about these arrangements that enable teams to function effectively, it is impossible to make recommendations regarding “what works”. Are teams successful because of who is in them? Or are they successful because of what they do?

Continuing and ending grants

European Research Council Starting Peter Curtius-Stiftung Leibniz ScienceCampus Grant Project leader(s): Sascha Steffen Project leader(s): Paul Heidhues Project leader(s): Botond Kőszegi Project title: Central bank interventions Supporting partner(s): Özlem Bedre- Supporting partner(s): Paul Heidhues and short-term liquidity provision Defolie, Sascha Steffen, Michał Grajek Project title: Behavioral theory and €17,500 Project title: Berlin Centre for Consumer economic applications Project leader(s): Sascha Steffen Policies (BCCP) €375,000 €30,000 Project title: On the road to no recovery? Under-capitalization and economic DFG Research Grant growth Project leader(s): Jörg Rocholl, Tobias Berg €15,000 Project title: The role of incentives within banks €134,022 26

Centers and institutes

Center for Leadership Development Research (CLDR)

The Center continued the exploration of modern leadership challenges, consequences for leadership development efforts, and methods supporting managers in harnessing their leadership identities and competencies. Deep involvement of the people associated with the CLDR in ESMT Berlin’s executive education and degree programs allowed the CLDR to test our ideas with both seasoned and aspiring leaders. The Center’s academic work and thought leadership pieces were distributed through academic and practitioner articles, a new edition of the time-tested leadership coaching classic book (The Sage handbook of coaching), scholarly and managerial conference presentations (Academy of Management, International Leadership Association, American Psychological Association, etc.), and multiple events involving the CLDR collaborators. See page 17 for a list of events.

CLDR internal and external affi liates

Konstantin Korotov Bülent Gögdün Manfred Kets de Vries Associate Professor of Organizational Director of Open Programs and Head of Distinguished Affi liate Professor, ESMT Behavior and Director of the Center the Practice Group Technology-Based Berlin and The Raoul de Vitry d’Avaucourt for Leadership Development Research Industries, ESMT Berlin Chaired Clinical Professor of Leadership (CLDR), ESMT Berlin Business strategy, change management, Development, INSEAD Psychological burdens of modern lead- consulting, executive coaching and edu- ership, leadership development, career cation, management education, leader- Svetlana Khapova dynamics, and executive coaching ship development, strategy Visiting Faculty, ESMT Berlin, Fenna Diemer-Lindeboom Chair in Careers and Andreas Bernhardt Laura Guillén Organization Studies, Vrije Universiteit, Amsterdam, The Netherlands Executive Development Advisor and Lead Assistant Professor of Organizational Coach, ESMT Berlin Behavior, ESMT Berlin Change management, coaching, conflict Leadership and leader identity, motiva- Ulf Schäfer and crisis management, executive coach- tion to lead, gender, diversity, authentic- Program Director, ESMT Berlin ing and education, human resources ity, dark side of leadership, social percep- Business ethics, change management, management, leadership development, tions at work, and coaching practices entrepreneurship, leadership develop- negotiation, organizational behavior ment, organizational behavior Jan U. Hagen Elizabeth Florent-Treacy Associate Professor, ESMT Berlin Senior Lecturer, Associate Director, Re- Error management, crisis management, search, INSEAD Executive Degree Pro- impact of leadership styles, and com- gramme munication patterns on performance of flight crews 27 

Center for Financial Reporting and Auditing (CFRA)

As a consequence of the financial turmoil over the last decade, financial reporting and auditing face enhanced regulatory and political scrutiny on both the national and international levels. In recent years, research has become increasingly important for capital market activities and financial reporting and auditing are no expectations. At the same time, academic research is getting more specialized and many feel that the gap between academic research and practice has widened. CFRA sees it as its purpose to narrow this gap. See page 16 for a complete list of events. Through the generous support of the Pühringer Foundations, Mr. Czerwenka and Mr. Mair, joined the CFRA team this year in conjunction with their positions as EMP (Endowment Management Program) Junior Investment Managers at ZZ Vermögensberatung (Schweiz) AG. Together with ESMT Berlin they will develop an EMP program at ESMT in the coming year, and they will manage a 10 million Euro capital stock portfolio over a two-year period.

CFRA team

Per Olsson Sascha Czerwenka Florian Mair Professor of Accounting and Academic Research Associate Research Associate Director, CFRA Economics, finance, hedge funds, portfo- Alternative investments, asset manage- Financial reporting, capital markets lio management ment, economics, emerging markets, research, valuation research, corporate portfolio management, wealth manage- governance, and international account- ment ing differences Katja Kisseleva-Scherenberger Research Associate Tijana Ristic Kern Michael Gewehr Entrepreneurial financial management, venture capital markets Coordinator Managing Director

CFRA external affiliates

Stanley Baiman Ulf Brüggemann Joachim Gassen Distinguished Affiliate Professor, ESMT Affiliate Researcher, CFRA and Visiting Affiliate Researcher, CFRA and Visiting Berlin and William H. Lawrence Professor Professor of Accounting, ESMT Berlin Professor of Accounting, ESMT Berlin Emeritus of Accounting, The Wharton and Assistant Professor of Accounting, and Professor of Accounting, Humboldt School, University of Pennsylvania Humboldt University of Berlin University of Berlin

Advisory council

Stanley Baiman Joachim Gassen Laurence van Lent Distinguished Affiliate Professor, ESMT Affiliate Researcher, CFRA and Visiting Professor of Empirical Accounting Berlin and William H. Lawrence Professor Professor of Accounting, ESMT Berlin Research, Tilburg School of Economics Emeritus of Accounting, The Wharton and Professor of Accounting, Humboldt and Management, Tilburg University School, University of Pennsylvania University of Berlin Katherine Schipper Tim Baldenius Annette Köhler Thomas F. Keller Professor of Accounting, Vincent C. Ross Professor of Accounting, Professor of Accounting and Auditing, Fuqua School of Business, Duke University Leonard N. Stern School of Business, New Mercator School of Management, York University University of Duisburg-Essen  28

Center for Sustainable Business (CSB)

The CSB is an international center specialized in formulating, implementing, and evaluating corporate sustainability initiatives. The Center offers strategy formulation and assessment, knowledge creation, policy influence, advancement for managers and top executives to help companies increase value from corporate sustainability investments. In the second year of activity, the CSB continued working on a large scale research project investigating how sustainability is embedded in mainstream companies. The Center analyzed data gathered during interviews at companies such as AEGON, Allianz, BASF, Coca Cola European Partners, Enel, Holcim/ Ambuja, IBM, ITC, Marks & Spencer, Nestlé, Old Mutual, Unilever, and Whirlpool. CSB disseminated findings of this research project via publications (e.g., in the Stanford Social Innovation Review with Paul Polman, CEO of Unilever) and via keynote speeches and presentations (e.g., at the World Business Council for Sustainable Development Council Meeting in Chennai, India). In 2016 the Center organized two Sustainable Business Roundtable (SBRT) meetings at ESMT Berlin. The SBRT is a peer-to-peer learning network for a group of excellent companies that have a global footprint and that are leading the sustainability revolution. At the meetings in 2016 our 25 member companies and invited guests discussed challenges and opportunities in impact assessment and stakeholder engagement. See page 18 for a complete list of events.

CSB team

CB Bhattacharaya Sezen Aksin-Sivrikaya Professor of Marketing, Pietro Ferrero Research and Teaching Coordinator Chair in Sustainability and Director, CSB Business strategy innovation, CSR, sus- Joanna Radeke tainability, stakeholder engagement, Coordinator marketing strategy, and corporate iden- tity and reputation

CSB internal affiliates

Tamer Boyaci Urs Müller Stefan Wagner Professor of Management Science, Lecturer and Head of the Practice Group Associate Professor of Strategy and the Michael Diekmann Chair in Consumer Goods and Retail Economics of technology and innovation, Management Science Business ethics, case study method, intellectual property rights (patent pro- Supply chain management, sustainable change management, consumer goods, tection), and innovation management operations, remanufacturing, retail oper- corporate responsibility, corruption, ations, marketing operations inter-face, intercultural management, pricing policy, pricing, and assortment optimization retail sector, sustainability

Rajshri Jayaraman Jörg Rocholl Associate Professor of Economics, Faculty President, Professor of Finance, and EY Lead of the Full-time MBA Program, and Chair in Governance and Compliance Karl-Heinz Kipp Chair in Research Corporate finance, impact of political Development economics, labor economics connections on firm value, and function- ing of the interbank lending market 29 

CSB external affiliates and SBRT Steering Committee

Tima Bansal Jennifer Howard-Grenville Sankar Sen Executive Director, Network for Business Associate Professor of Management, Professor of Marketing, Zicklin School Sustainability and Professor of General University of Oregon of Business, Baruch College, The City Management, Ivey Business School University of New York Ioannis Ioannou Shuili Du Assistant Professor of Strategy and N. Craig Smith Assistant Professor of Marketing, Entrepreneurship, London Business INSEAD Chaired Professor of Ethics and University of New Hampshire School Social Responsibility, INSEAD

Dietlind Freiberg Andreas Kicherer Marc van Weede Director Corporate Responsibility, Director Sustainability Strategy, BASF Executive Vice President and Global Head McDonald’s Deutschland of Strategy & Sustainability, Aegon N.V. Daniel Korschun Zeynep Gürhan Canli Associate Professor of Marketing, Drexel Director, Graduate School of Business University and Migros Professor of Marketing, Koç University

Interview with Prof. CB Bhattacharya

You have been recently selected as a Web recent publications with Unilever CEO Paul of Science Highly Cited Researcher by Polman in MIT Sloan Management Review Thomson Reuters and you have more than and Stanford Social Innovation Review are 17,000 citations on Google Scholar. What two examples of how the Center helps is the secret of your success? scholarship. I combine theory and practice in my CB Bhattacharya You deliver numerous keynote speeches publications and thus my work has both Professor of Marketing, Pietro Ferrero and scholarly presentations. How does Chair in Sustainability, and Founding theoretical and practical implications, Director of the Center for Sustainable this help? making it relevant for people both in Business academia and business. I present my work First and foremost, I have the opportunity to audiences worldwide. I believe all of to inform others about my work and raise these make a contribution. awareness on pressing sustainability issues such as climate change and income What is the role of the Center for Sustain­ inequality. These speaking forums are able Business and publications in your also networking opportunities. I have I am writing a book on how to embed scholarship? the opportunity to meet many renowned sustainability into various corporate As part of the Center’s activities, we host scholars and executives who have the functions. I have interviewed more than the Sustainable Business Roundtable power to influence policy-making. 100 individuals including CEOs, C-suite (www.esmt.org/csb) meetings biannually. Collaboration with such people surely helps executives, and managers to office This is a peer-to-peer learning network to get the word out. employees and factory workers. In the where companies come together and course of conducting the interviews, I have discuss major sustainability challenges. What are your plans forward? visited corporate headquarters, branch Our learnings from these meetings I will continue to teach, publish, and be offices, retail stores, and factories on usually translate into publications. My a thought leader in my field. Currently, multiple continents. Stay tuned!  30

German Tech Entrepreneurship Center (GTEC)

GTEC was founded in 2015 by ESMT Berlin, Henkel, RWE (now Innogy), Globumbus Foundation, Sigmund Kiener Foundation, and the law firm Noerr. GTEC brings technology- based startups, international corporations, academic institutions, accelerators, venture capital funds, and business angels together under one roof to support innovative entrepreneurs during the early phases of their ventures. The Center integrates teaching, research, and support of company creation in one institution that is open to German and international entrepreneurs. GTEC held numerous events, both for the public, such as our Open Lectures and a wide variety of meetups, and also for smaller circles, where global industries came to learn from the startup world and vice versa. The first batch of startups successfully graduated from our 12-month lab program. GTEC also welcomed many new, promising startups from all around the world in various fields such as IoT, neurotech and energy. The industry partners are in a constant intellectual and professional exchange with the startups and the GTEC environment provides fertile ground for fruitful collaboration. Finally, the GTEC Blockchain Innovation Award was presented as the first-ever award in our Innovation Award series and will definitely not be the last. See pages 19–20 for a complete list of events.

GTEC team

Benjamin Rohé Darius Moeini Stefanie Westermann Managing Director Director Lab & Venture Development Manager Lab & Office

Christoph Räthke Anya Klyukanova Director Education Manager Communications

Anne Kluge Philipp von Roeder Executive Assistant Director Communications 31 

Digital Society Institute (DSI)

Supported by leading global companies in Germany, the DSI was founded in 2016 in order to foster the economic and societal development of digitization through strategic research and development. The institute designs effective, responsible strategies for politics, business and society in Europe’s digital future, and develops innovative technologies for novel approaches to digitization. This year, DSI welcomed its deputy director Martin Schallbruch, formerly responsible for digitization, IT and cyber security in the German federal government and now heading the focus area on cyber innovation and cyber regulation at DSI. DSI further welcomed three researchers: Isabel Skierka focuses on industrial cybersecurity and digital policy issues, and Georg Becker and Alexander Bajic investigate moving target defense technologies, their potential for defending corporate networks and protecting critical infrastructure and industry 4.0 applications. DSI thanks TÜV Nord Group and Cyber Works AG for supporting this research and technological development. The DSI conference “Defending Democracy. Increasing Innovation“ was conducted with the support of the German Federal Foreign Office, the Blavatnik Interdisciplinary Cyber Research Center of Tel Aviv University and the Chair Castex de Cyberstrategie in Paris. Further events were with NATO, MIT, German Bundestag, Lomonossow University and others. See pages 20–22 for a complete list of events.

DSI staff members

Sandro Gaycken Alexander Bajic Shina-Nancy Erlewein Director Junior Researcher Operational Officer and Executive Strategic digitalization, cybersecurity, Usable security and privacy, perceived Coordinator cyberwar authenticity, authentication schemes, fraudulent behavior in VoIP Isabel Skierka Martin Schallbruch Researcher Deputy Director Georg T. Becker IT security, cyber security, Industry 4.0, Senior Researcher critical infrastructures, global gover- Cybersecurity, privacy, digitization strate- nance, international security gies, digitization policy, public sector ICT, IT-security, hardware security, hard­ware European and international cyber law, Trojans, side-channel analysis, IP pro­ incident management, cyber trust tection, hardware watermark, software wa­ter­mark, hardware obfuscation

External affiliates

Philippe Baumard Kenneth Geers John Mallery Associate Researcher, École Polytechnique Ambassador, NATO and Brent Scowcroft Research Scientist, Massachusetts Center on International Security, Atlantic Institute of Technology (MIT) Frédérick Douzet Council Professor, Institut Français de Géopolitique (IFG) James Andrew Lewis Senior Vice President, Center for Strategic & International Studies (CSIS)  32

Advisory council

Thomas Bagger Melissa Hathaway Wolfgang Ischinger Head of Policy Planning, German Federal Senior Advisor, Harvard Belfer Center Ambassador, Chairman of the Munich Foreign Office Security Conference Stefan Heißner Robert Blackburn Partner, EY Ralf Schneider President, Information Technology and Group CIO, Allianz Supply Chain Operations, BASF Martin Hofmann CIO, Volkswagen Brigitte Zypries Sorin Ducaru State Secretary, Federal Ministry for Ambassador, Assistant Secretary General, Economic Affairs and Energy NATO 33 

PhD program

In its continuing strive for excellence, ESMT Berlin received the right to grant PhD titles from the Berlin Senate in 2013. ESMT Berlin currently participates in the Berlin Doctoral Program in Economics and Management Science (BDPEMS) and was part of the Research Training Group (RTG). In 2016 ESMT Berlin had its first PhD graduate – Johannes Johnen. ESMT PhD fellow Ning Chen became a PhD candidate in 2016 after presenting her research paper ‘When luxury benefits from CSR: An examination of loyalty to luxury hotels’. Ning works under the supervision of Prof. Francine Petersen. In October 2016 two first-year BDPEMS students, Renata Mišljenović and Katja Kisseleva-Scherenberger, who both received ESMT PhD Fellowships joined ESMT Berlin as well as two doctoral students in their research phase, Benjamin Grosse Rueschkamp and Nghi Truong, who will be supervised, respectively, by Prof. Jörg Rocholl and Prof. Matthew S. Bothner. ESMT PhD students are selected based on their academic excellence and research promise. ESMT awards scholarships with the aim of supporting outstanding students based on their intellectual excellence, evidence of personal and professional achievement, as well as a proven strong potential to conduct independent research. They are exclusively available to students who have been accepted in either BDPEMS or RTG. Scholarships are provided by ESMT, BCCP (Berlin Centre for Consumer Policies) and German Science Foundation (DFG).

BDPEMS courses Other courses

Özlem Bedre-Defolie Francis de Véricourt Stefan Wagner Management Science II, Part 2: Management Science I, Part 1: Sequential July 5–8 Theoretical models in industrial decision making under uncertainty Econometrics – Multivariate Empirical organization and strategic management Analysis, together with Prof. Georg von Catalina Stefanescu-Cuntze Graevenitz, PhD (University of East Matthew Bothner Management Science II, Part 1: Classical Anglia, London) as part of the German Management Science I, Part 2: The statistical methods of management Academic Association for Business analysis of economic and social networks research Research (VHB) doctoral program.  34

Graduates

Johannes Johnen ESMT PhD Graduate (as of June 2016) Johannes’ dissertation ‘Essays in After his successful graduation he joined Behavioral economics, microeconomic behavioral industrial organization and the faculty of Université Catholique theory, industrial organization mechanism design’ was awarded the de Louvain as a tenure-track assistant grade ‘summa cum laude’ in June 2016. professor.

ESMT PhD students

Pauline Affeldt Katja Kisseleva-Scherenberger Benedikt Meyer-Bretschneider ESMT PhD Student ESMT PhD Fellow and Research Associate, ESMT PhD Student and Faculty Research Industrial organization, competition Center for Financial Reporting and Assistant policy Auditing (CFRA) Behavioral economics, experimental Entrepreneurial financial management, economics venture capital markets Teresa Backhaus ESMT PhD Fellow Renata Mišljenović Marco-Henry Krabs Public economics and applied ESMT PhD Fellow microeconomics ESMT PhD Student Financial stability, macroeconomics, Industrial organization, new institutional monetary policy and econometrics economics Ning Chen ESMT PhD Fellow Axel Stahmer Ingo Marquart Consumer psychology and behavior, ESMT PhD Student judgment and decision making ESMT PhD Fellow Behavioral economics, behavioral Industrial organization, social and finance, financial markets economic networks, regulation, Benjamin Grosse Rueschkamp competition policy, energy economics PhD Fellow and Faculty Research Lea Steinruecke Assistant ESMT PhD Student Stephan Martin Financial intermediation, monetary Financial markets regulation, macro- policy, banking regulation ESMT PhD Fellow finance, market manipulation, financial Microeconometrics, non- and crises, OTC products semiparametric statistics Jing Huang ESMT PhD Fellow and Faculty Research Nghi Truong Assistant Sönke Matthewes ESMT PhD Student Theoretical statistics, probability, ESMT PhD Fellow Social network analysis, applied econometrics Public economics, applied microeconometrics, development microeconomics, public policy economics 35 

Studies

3 online studies 507 participants €1,458 volume

Lab pool

2,700 participants 74% German 32% female 52% students, 56% with a BA degree or higher Research lab and research staff 77% under 34 years of age 69% English proficiency: native/ advanced

The research lab provides a state of the art environment for research under controlled conditions in the on-campus lab and through online surveys, whereby cutting edge research in business, marketing, psychology, and finance are conducted. In the studies participants help to create knowledge that may influence how companies do business.

Researchers associated with the lab

Guillermo Baquero Franziska Frank Francine Petersen Associate Professor Head of Business Development Russia Associate Professor of Marketing and Eastern Europe Ning Chen ESMT PhD Student

Research associates

Frank Hüttner Frank joined ESMT Berlin at the end of when cooperation exerts externalities and Research Associate 2015 working with Prof. Boyaci on decision he examines decision making if information making, particularly on the field of rational can be aquired but is costly. Synergies of Behavioral decision making, consumer inattention. He has a doctoral degree both theories emerge when evaluating the welfare, decision making, game theory, from the HHL Leipzig Graduate School of value of information has to be distributed operations research, statistics Management. He studies fair sharing rules among different information sources.

Research assistants

Rita Alvarez Martinez Benedikt Meyer-Bretschneider Arne Thomas Research Assistant Faculty Research Assistant Research Assistant

Niko De Silva Grigorii Morozov Mansi Wadhwa Faculty Research Assistant Research Assistant Research Assistant

Benjamin Grosse Rueschkamp Max Richter Nina Xue Faculty Research Assistant Lab Manager and Faculty Research Lab Manager and Faculty Research Assistant Assistant Jing Huang Faculty Research Assistant Marrit Teirlinck Research Assistant

The faculty research assistant role is that of an “ad-hoc” research assistant available to all faculty members on a first come-first serve basis.  36

56 research conferences 16 Germany 17 Europe 23 international

34 seminar presentations 9 Germany 12 Europe 13 international

12 workshops Research conferences and 5 others seminar presentations

Sumitro Banerjee The 2016 Annual Meeting of the Wharton Global Forum 2016, Wharton, American Economic Association, AEA, San University of Pennsylvania, Amsterdam, Conference Francisco, CA, USA The Netherlands ISMS Marketing Science Conference 2016, Seminars The 21st Century Company: How It INFORMS Society for Marketing Science, Creates Value – And for Whom, Skytop Shanghai, China Research Seminar, Tilburg Law and Economics Center (TILEC), Tilburg Strategies, New York, NY, USA University, Tilburg, The Netherlands Guillermo Baquero Seminars Research Seminar, University of Virginia, Conference Awakening the Green Self: Stakeholder Charlottesville, VA, USA Reactions to Sustainability, American Economic Association, AEA, San Workshops –– SAP, Mannheim, Germany Francisco, CA, USA –– SMU, Singapore, Singapore Economics of Platforms Workshop, ESMT –– University of Mannheim, Mannheim, Berlin, Berlin, Germany Georg T. Becker Germany VII Workshop on Institutions, Individual –– University of Pittsburgh, Pittsburgh, Conference Behavior and Economic Outcomes, PA, USA CRENoS, University of Sassari, Alghero, 18th Conference on Cryptographic Other Hardware and Embedded Systems, Sardinia, Italy International Association for Cryptologic Awakening the Green Self: Stakeholder Research, Santa Barbara, CA, USA Andreas Bernhardt Reactions to Sustainability, –– Queen’s University, Kingston, ON, Conference Özlem Bedre-Defolie Canada Institute of Coaching and ESMT –– University of Western Ontario, London, Conferences Leadership Forum, Institute of Coaching ON, Canada Annual Conference of the Leibniz (Harvard Medical School) and ESMT Towards a Sustainable Business Model, ScienceCampus, MaCCI Mannheim Centre Berlin, Berlin, Germany Praxis Business School, Kolkata, India for Competition and Innovation (ZEW), Mannheim, Germany CB Bhattacharya VOYA Financial Colloquium, University of Connecticut, Hartford, CT, USA 14th ZEW Conference on The Economics Conferences of Information and Communication Technologies, ZEW and MACCI, Mannheim, 14. Nachhaltigkeitsforum, INa Institut für Matthew Bothner Nachhaltigkeit, Berlin, Germany Germany Conference 43rd Annual Conference of the European 19th International Symposium on Ethics, Business and Society, IESE Business 76th Annual Meeting of the Academy of Association for Research in Industrial Management, AOM, Anaheim, CA, USA Economics, EARIE, Lisbon, Portugal School, Barcelona, Spain Seminar Annual Competition and Regulation AMA 2016 Summer Educator’s European Summer School and Conference, Conference, AMA, Atlanta, GA, USA Research Seminar, Imperial College CRESSE, Rhodes, Greece Ferrero Management Conference, Ferrero, London, London, UK Marburg, Germany EEA and ESEM Conference, Econometric Workshop Society, Geneva, Switzerland GRI G4 Homecoming Event, BSD Forum on Networks-Institutions, Consulting, Berlin, Germany The 14th Annual International Industrial Business Ethics and the Cutting-edge Organization Conference (IIOC), Drexel Media, Business and I For Our Children, For of Organization Theory, Xi’an Jiaotong University, Philadelphia, PA, USA Our Children Foundation, Sofia, Bulgaria University, Xi’an, China 37 

Tamer Boyaci The utility of the future: Preparing for a Seminar changing energy sector, OMIE, Madrid, Conferences Spain Research Seminar, EMLYON Business School, Écully, France Institute for Operations Research and Management Science (INFORMS) Revenue Gianluca Carnabuci Research Seminar, ESADE, Barcelona, Management and Pricing Conference Spain 2016, NYU Stern School of Business, New Seminar York, NY, USA Seminar Series of the Department of Jan Hagen Seminars Sociology, Department of Sociology, University of Mannheim, Mannheim, Conference Research Seminar, Department of Germany Aviation Safety – Todays and Future Industrial Engineering & Logistics Challenges in a Digital Environment, ILA Management, Hong Kong, China Linus Dahlander Berlin Air Show – Director of Flight Safety Research Seminar, The KLU (Kühne Seminars German Federal Armed Forces, Berlin, Logistics University), Hamburg, Germany Germany Digital Seminar, Harvard Business School, Research Seminar, University of Cambridge, MA, USA Mannheim, Mannheim, Germany Paul Heidhues Research Seminar, Stockholm School of Workshop Economics, Stockholm, Sweden Conferences Tenth Annual Workshop on Supply Chain Research Seminar, INSEAD, Fontainebleau, Conference of the European Association and Logistics, Bilkent University, Ankara, France for Research in Industrial Organization, Turkey EARIE, Lisbon, Portugal Research Seminar, Technical University, Munich, Germany Stanford Institute for Theoretical Christoph Burger Economics, Stanford University, Stanford, Research Seminar, Vienna University of CA, USA Conferences Economics and Business, Vienna, Austria Blockchain-Tag für die Energiewelt 2016, The Hal White Antitrust Conference, Solarpraxis Neue Energiewelt AG, Berlin, Francis de Véricourt Bates White Economic Consulting, Germany Washington, DC, USA Conference Detailmarkedsforum, Energinet.dk, Seminars INFORMS Annual Conference 2016, Fredericia, Denmark INFORMS, Nasvhville, TN, USA Applied Economics Seminar, Wharton School, University of Pennsylvania, Die Zukunft der Energiewende: Was noch Workshop zu klären ist, Deutsche Energy-Agentur, Philadelphia, PA, USA Berlin, Germany Supply Chain Finance & Risk Management Economic Theory Seminar, University of Workshop, Olin Business School of Arizona, Tucson, AZ, USA Digital utilities Europe 2016, Active Washington University, St. Louis, MS, USA Communications International, London, Economics Seminar, Dartmouth College, UK Michał Grajek Hanover, NH, USA Digitalisation of the energy industry: Conferences Finance Lunch, MIT Sloan School of Will blockchain be the booster?, KIC Management, Cambridge, MA, USA InnoEnergy, Berlin, Germany Annual Conference of the European Association for Research in Industrial Microeconomic Theory Workshop, Yale Eco-Summit, Forum GG2: Eco-civilization Economics, EARIE, Lisbon, Portugal University, New Haven, CT, USA & green growth, BIT Group Global Ltd, Seoul, South Korea Business and Public Policy Workshop, Microeconomics Theory Seminar, ESADE, Barcelona, Spain University of California, Berkeley, CA, USA Power self-generation and self- consumption, Club Español de la Energía, CRESSE Conference, Athens University of Research Seminar, Olin School of Business Madrid, Spain Economics and Business, Rhodes, Greece at Washington University, St. Louis, MO, USA dena-Kongress 2016, Deutsche Energie Agentur, Berlin, Germany Laura Guillén Tinbergen Institut Micro Seminar, Erasmus University, Rotterdam, The Workshops Conferences Netherlands Future of utilities: Utilities of the future: 1st Interdisciplinary Perspectives on Leadership Symposium, ALBA Graduate A German/European perspective, Centre Jing Huang for energy and environmental markets, Business School, Greece & Aston University, UK, Rhodes, Greece Bergen, Norway Conference 5th ESMT OB Conference, Berlin, Germany Plattform Digitale Energiewelt: 1. Sitzung 2016 ICSA Applied Statistics Symposium, der Arbeitsgruppe 2, Deutsche Energy- Academy of Management Annual International Chinese Statistical Agentur, Berlin, Germany Meeting, AoM, Anaheim, CA, USA Association, Altanta, GA, USA  38

Rajshri Jayaraman Konstantin Korotov EMAC 2016, Norwegian Business School, Oslo, Norway Conferences Conferences North America Association for Consumer 2016 Canadian Economics Association 18th Annual Global Conference of the Research Conference, ACR, Berlin, (CEA) Annual Conference, The Canadian International Leadership Association, Germany Development Economics Study Group International Leadership Association, Inc., (CDESG), Ottawa, Canada Atlanta, GA, USA Martin Schweinsberg 30th Annual Conference of the European Academy of Management Annual Society for Population Economics, ESPE, Conference, AOM, Anaheim, CA, USA Conference Berlin, Germany Coaching and Leadership in Healthcare 17th Annual Convention, Society for 7th IGC-ISI India Development Policy Conference, Institute of Coaching/ Personality and Social Psychology, San Conference, IGC, Delhi, India Harvard Medical School, Boston, MA, USA Diego, CA, USA Development Economics Conference – Göttinger Schule, Georg-August- Per Olsson Stefan Wagner University Göttingen, Göttingen, Seminars Conferences Germany National Doctoral Tutorial, Hanken School 7th Asia-Pacific Innovation Conference, Seminar of Economics, Helsinki, Finland Kyushu University, Fukuoka, Japan Research Seminar, Goethe University Research Seminar, Vienna University of DRUID Asia, DRUID Society, Singapore, Frankfurt, Frankfurt, Germany Economics and Business, Vienna, Austria Singapore Workshop Seminar for Financial Analysts, Swedish Patente 2016, Management Circle, Enacting Change In Long-Run Behavior Institute for Financial Research, Munich, Germany and Attitudes workshop, WZB Berlin, Stockholm, Sweden Seminars Berlin, Germany XII International Accounting Research Brown Bag Seminar, Max Planck Institute Symposium, Fundación Ramón Areces, for Innovation and Competition, Munich, Johannes Johnen Madrid, Spain Germany Conference Workshops Research Seminar, Swinburne University, Conference of the European Association Accounting Research Workshop, Ludwig Melbourne, Australia for Research in Industrial Organization, Maximilian University of Munich, Munich, Research Seminar, University of Cologne, EARIE, Lisbon, Portugal Germany Cologne, Germany Accounting Research Workshop, Other Katja Kisseleva-Scherenberger University of Graz, Graz, Austria Workshop Public Lecture, Intellectual Property Francine Petersen Research Institute of Australia, PhD Day, Erasmus University Rotterdam, Melbourne, Australia The Netherlands Conferences 2016 Monaco Symposium on Luxury, INSEEC Business School & the International University of Monaco, Monaco 39 

31 research visitors

By home institution 10 Europe 14 North America 5 Asia 2 Middle East

Research visitors

ESMT Berlin strongly encourages and supports joint research between faculty members and other researchers by hosting visiting scholars from around the world. A significant part of the centrally managed R&D budget is directed toward co-financing research visitors. These visitors work with individual ESMT faculty colleagues on topics of mutual interest and make a significant contribution – especially to those in the junior research community of the school – through mentoring, supervision, and seminars.

Simon Anderson (Department of Michaela Draganska (LeBow College of Margarita Mayo (Instituto de Empresa, Economics, University of Virginia) Business, Drexel University) IE Business School, IE University) August 7–12 June 22–August 26 January 25–June 30

Gary Biglaiser (Department of Guillermo M. Gallego (School of Shumail Mazahir (Desautel Faculty of Economics, University of North Carolina Engineering, The Hong Kong University Management, McGill University) at Chapel Hill) of Science and Technology) June 20–July 2 May 7–14 May 21–25 Kim Pettersson (Department of Lawrence E. Blume (Department of Martin Gargiulo (INSEAD) Accounting and Auditing, Copenhagen Economics, Cornell University) October 31–November 04 Business School) December 1–4 October 17–30 Philippe Jacquart (EMLYON Business Meghan Busse (Kellogg School of School) Henning Piezunka (INSEAD) Management, Northwestern University) June 27–29, December 04–06 January 21–22, February 11–13, April 11– January 1–August 15 14, April 28–29, July 11–15, September Erik Johannesson (Columbia Business 14–17, November 21–25 Tanika Chakraborty (Department of School, Columbia University) Humanities and Social Sciences, IIT June 9–18 Carla Rua (University of Lugano) Kanpur) November 1–4 February 9–12 Selcuk Karabati (College of Administrative Sciences and Economics , Farzad Saidi (Cambridge Judge Business Joseph A. Clougherty (College of Koç University) School, Cambridge University) Business, University of Illinois) September 5–January 30 February 1–5, February 11–12, March September 15–November 15 14–April 18, May 2–6, May 23–27, June Wonjae Lee (Graduate School of Culture 13–August 15 Ulrich Doraszelski (The Wharton School, Technology, GSCT, KAIST University) University of Pennsylvania) December 6–10 Henry Sauermann (Scheller College June 22–August 26 of Business, Georgia Institute of Technology) Alexander Ljungqvist (Stern School of Business, New York University) April 1–July 31 January 18–19  40

Serpil Sayin (College of Administrative Marno Verbeek (Department of Finance, Julian Wright (National University of Sciences and Economics, Koç University) Rotterdam School of Management, Singapore) September 5–January 30 Erasmus University, Rotterdam) December 02–07 February 24–27 Katherine A. Schipper (The Fuqua School Liu Yang (School of Economics and of Business, Duke University) Georg von Graevenitz (Norwich Business Management, Tsinghua Univeristy) November 23–25 School, University of East Anglia) July 10–13 July 05–08 Alex Thevaranjan (Whitman School of Florian Zettelmeyer (Kellogg School of Management, Syracuse University) Frederik Witte (The Institute for Management, Northwestern University) January 7–14, May 20–June 03, October Analytical Sociology, Linköping January 1–August 15 28–31 University) February 15–18 About ESMT Berlin

ESMT European School of Management and Technology was founded by 25 leading global companies and institutions. The international business school offers a full- time MBA, an executive MBA, a master’s in management, as well as open enrollment and customized executive education programs. ESMT focuses on three main topics: leadership and social responsibility, European competitiveness, and the management of technology. ESMT faculty publishes in top academic journals. Additionally, the business school provides an interdisciplinary platform for discourse between politics, business, and academia. ESMT is based in Berlin, Germany, with Schloss Gracht as an additional location near Cologne. ESMT is a private business school with the right to grant PhDs and is accredited by the German state, AACSB, AMBA, EQUIS, and FIBAA. www.esmt.org

Citation

Grajek, M., T. Boyaci, C. Xitco, and A.-M. Selignow (2017). R&D Annual Report 2016. Berlin: ESMT European School of Management and Technology GmbH.

Copyright 2017 by ESMT European School of Management and Technology GmbH, Berlin, Germany, www.esmt.org All rights reserved. This document may be distributed for free – electronically or in print – in the same formats as it is available on the website of the ESMT (www.esmt.org) for non-commercial purposes. It is not allowed to produce any derivates of it without the written permission of ESMT. ESMT European School of Management and Technology GmbH

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