Zur Akzeptanz von Stromspeichern in Unternehmen

The German Energy Transition challenges the German Energy System with the integration of renewable energy and its mainly fluctuating nature (especially wind and PV-energy). In order to balance energy demand and supply scholars critically discuss decentralized electric energy storages as an option to introduce more flexibility to the system. In an industrial setting electric energy storage solutions are especially of interest to implement load management, meaning a temporal deferral of load capacity, for peak-shaving activities and the possibility to achieve higher consumption rates of self-generated electricity. One question arises: What do companies think about the use of energy storage solutions in their companies as of today? This article offers an empirical starting point in looking further into detail concerning the overall attitude and the level of knowledge with regard to electrical energy storage solutions based on guided interviews with companies of the manufacturing and processing industry in Germany.     

Reducing the Mobility of SARS-CoV-2 Variants to Safeguard Containments

Intereconomics - Escape variants can cause new waves of COVID-19 outbreaks and put vaccination strategies at risk. To prevent or delay the global spread of these waves, virus mobility needs to be...     

A residual-based multivariate constant correlation test

We propose a new multivariate constant correlation test based on residuals. This test takes into account the whole correlation matrix instead of the considering merely marginal correlations between bivariate data series. In financial markets, it is unrealistic to assume that the marginal variances are constant. This motivates us to develop a constant correlation test which allows for non-constant marginal variances in multivariate time series. However, when the assumption of constant marginal variances is relaxed, it can be shown that the residual effect leads to nonstandard limit distributions of the test statistics based on residual terms. The critical values of the test statistics are not directly available and we use a bootstrap approximation to obtain the corresponding critical values for the test. We also derive the limit distribution of the test statistics based on residuals under the null hypothesis. Monte Carlo simulations show that the test has appealing size and power properties in finite samples. We also apply our test to the stock returns in Euro Stoxx 50 and integrate the test into a binary segmentation algorithm to detect multiple break points.     

Evidence on the glass ceiling effect in France using matched worker-firm data

In this article, we investigate the relevance of the glass ceiling hypothesis in France, according to which there exist larger gender wage gaps at the upper tail of the wage distribution. Using a matched worker-firm data set of about 1 30 000 employees and 14 000 employers, we estimate quantile regressions and rely on a principal component analysis to summarize information specific to the firms. Our different results show that accounting for firm-related characteristics reduces the gender earnings gap at the top of the distribution, but the latter still remains much higher at the top than at the bottom. Furthermore, a quantile decomposition shows that the gender wage gap is mainly due to differences in the returns to observed characteristics rather than in differences in characteristics between men and women.     

Who needs experts most? Board industry expertise and strategic change—a contingency perspective

Research summary: We analyze the effects of board industry expertise on corporate strategic change and the moderating role of institutional quality. We suggest that country‐level contingency factors mitigate the effect of experienced boards on strategy formation by providing alternative sources of information and control in strategic matters. We develop institutional quality as institutional information provision and institutional control provision to test our hypotheses on a sample of firms from MSCI Europe and the S&P 500. Our findings confirm that industry expertise is a salient driver of strategic change across countries. The strength of the effect, however, depends on the institutional quality. We submit that weak institutions require greater board industry expertise as an alternative channel of information and control. Management summary: This study provides new empirical evidence that experience in the firms' industries enables directors to increase strategic change. Our findings show that this effect is even stronger in countries with weak regulatory environments. We hereby provide guidance for multiple stakeholders. First, shareholders seeking a more active adjustment of their firms' strategies may want to compose boards that leverage such experienced directors. Second, directors can use their industry experience to control and to challenge managers better to move beyond the status quo. Third, managers lacking access to information on potential strategic change can use such experienced directors for strategic advice and as a source of information. Overall, we add to the understanding of the corporate board's role in shaping strategy and the influence of weak regulations. Copyright © 2016 John Wiley & Sons, Ltd.     

Analysis of the Potential Economic Viability of Shale Gas Resources in Europe

European countries are currently exploring strategies to ensure a strong level of security of energy supply while decreasing its reliance on natural gas imports. With the strong surge in shale gas developments in the USA, similar ambitions have been the ongoing subject of inquiry in Europe. Detailed knowledge about extraction costs is a key issue in determining future shale gas investments in Europe. The paper at hand analyses the potential of European shale gas resources, highlighting their competitiveness against conventional natural gas. It examines the current volume of shale gas resources in Europe and performs a detailed cost calculation to provide an estimation of shale gas production costs. The results indicate that under current market conditions the repetition of the US shale gas boom is by all measures improbable in Europe. Furthermore, in the case that natural prices were to return to historically higher levels, only a few highly productive shale gas formations would be economically competitive.     

Stromspeicher im Quartier

Electricity storage is a possible flexibility option to increase the share of fluctuating electricity sources from renewable energies in the electricity system. In the past, most attention was paid to household and large storage facilities. Community storage solutions at the meso level have so far been largely neglected. It is only in the context of the change in legislation for the electricity supply of tenants that neighborhood solutions have recently been increasingly discussed.In essence, this article examines the challenges currently arising in the context of the implementation of electricity storage facilities at community level in Germany. To this end, the term “community storage” is first being discussed and outlined. Subsequently, economic-legal and socio-cultural challenges are presented and discussed as central challenges in the implementation of neighborhood storage solutions in Germany. Based on the discussion of current challenges, possible business models for the implementation and operation of district storage facilities in Germany will then be derived.     

The emotional review–reward effect: how do reviews increase impulsivity?

A growing reliance on customer reviews prompts firms to develop strategies to encourage customers to post online reviews of their products. However, little research investigates the behavioral consequences of writing a review. The act of sharing personal opinions through reviews is a rewarding experience and makes customers feel socially connected. With an application of reverse alliesthesia theory, the current study predicts that such rewarding experiences drive online reviewers to seek other rewards, such as impulsive buying. Three lab-based and two field studies demonstrate such an emotional review–reward effect: sharing emotional information in the public realm of customer reviews, rather than forming similar opinions privately, drives participants to make more impulsive buying decisions.     

A Field Test of the Effectiveness of Different Print Layouts: A Mixed Model Field Experiment in Alternative Advertising

This article investigates the effectiveness of bathroom print ads. Using liquor as the product domain, field study data (n = 146) indicate a high level of ad (60%) and product category (80%) recall. Contrary to the literature and the researchers’ hypothesis, respondents had a significantly higher level of recall for copy dominant than for visual dominant ads. Hypotheses suggesting that color advertisements would outperform non-color advertisements and interactions between ages and visual-based versus copy-based stimuli and gender and visual-based versus copy-based stimuli were not supported by the data. The implications for practitioners of the effectiveness of copy rich ads and suggested directions for future research are discussed.