Energiesparen: Warum wird Beratung gefördert?

Home renovation is generally asserted to be a highly effective means to increase residential energy efficiency and thereby contribute to climate protection from reduced energy consumption. As part of a larger package of measures in the residential sector, the German government is consequently providing financial support for home audits from recognized energy experts who provide advice on retrofitting options. To date, the question concerning the effectiveness these home audits has largely escaped empirical scrutiny. The present paper fills this void by providing evidence for considerable free-rider effects within the home audit program, yielding serious reservations with respect to both the effectiveness of the program and its fiscal costs. Moreover, given the substantial differences between the gross- and net effects of home audits that are revealed by this analysis, the program’s contribution to climate protection and thereby the central justification for the associated government outlays is called into question. The social benefit of the program emerges only from those retrofits that would not have been undertaken in the absence of the home audit.     

Investigating the formation of service supply chains

Existing research on service supply chains assumes the existence of an established and mature chain. Empirical or conceptual insights into service supply chain formation are therefore limited. The initial formation of a service supply chain, however, is suspected to determine its future performance. It is therefore of significant academic and managerial value to understand how and why service supply chains are formed, and how this process is coordinated. Drawing on an exploratory case study set in the management consulting industry, the inductive theory-building process underlying this study culminates in propositions and a conceptual model that provides a distinct understanding of service supply chain formation and the coordination mechanisms utilized within each stage. This study contributes to the service science, service supply chains, and service sourcing literatures; outlines managerial implications; and proposes future research directions.     

Consumer perceptions of higher and lower-level designed store environments

The role and influence of esthetics in the consumption of store environments remains poorly understood. Little is known about how esthetics propose substantial or adjunctive roles in consumers’ store experiences. The aim of this paper is to examine consumer perceptions of store design-architecture in high and low-level design contexts. Building on the esthetics, and environmental psychology literatures, our findings confirm consumers’ determinations of perceptual differences in the esthetic content contained in presented store environmental stimuli. Latent means comparisons confirm consumers’ perceptions of the presence of a high-level design in one fast-fashion store with a low-level design of a second store of the same retailer using a Confirmatory Factor Analysis. The results demonstrate the reliability and validity of the proposed constructs in confirming the presence of higher and low-levels of design. This research, thus, expands on the extant number of store specification and response constructs and prospectively opens up new lines of store environments research.     

On the Relationship of Stewardship and Valuation—An Analytical Viewpoint

Agency theoretical literature in accounting has frequently stressed possible difficulties in pursuing stewardship and valuation usefulness simultaneously. However, recent empirical evidence has revealed a significantly positive correlation between the two objectives. These empirical findings provide support for the IASB/FASB's decision to encompass stewardship in valuation usefulness in their revised conceptual framework. The objective of our paper is to identify factors influencing the stewardship/valuation relationship by using an analytical model. In a Linear Exponential Normal (LEN) setting we focus on the characteristics of an accounting system, in particular relevance, freedom from error and freedom from bias, the latter two according to IASB/FASB being components of representational faithfulness. We show that accounting quality, comprising relevance and freedom from error, has similar effects on valuation and stewardship usefulness. However, we identify conditions under which there is no perfect mapping from stewardship to valuation. Moreover, discretion in the accounting system has different consequences for both objectives as it does not affect valuation usefulness while it entails potentially negative effects on stewardship. Thus, we raise doubts in relation to the standard‐setters' view that stewardship is automatically met by a focus on valuation usefulness.     

Können Fiskalräte die europäische Schuldenkrise lösen?

This article analyses the role of independent fiscal institutions (IFIs) in dealing with the debt crisis in Europe. IFIs take the role of a fiscal watchdog by producing their own (or assessing the government’s) budget and macroeconomic forecast and have recently spread across many industrialized countries. Empirical evidence suggests that IFIs can contribute to solid public finances in conjunction with fiscal rules if these institutions are truly independent, have a clear mandate and access to sufficient resources, as well as a strong media impact.     

Trump’s Trade Policy Agenda

President Donald Trump espouses “America First” positions which are commonly interpreted as protectionist. However, a closer reading of Donald Trump’s business interests, of his administration’s published trade agenda and of US trade negotiation history calls into question whether “America First” means protectionism. Trump will use large trade deficits to pressure trading partners to further open up their markets. Companies that are successful in exporting to the US market from those countries will be alarmed by protectionist announcements and will therefore most likely pressure their governments to give in to the demands of the Trump administration.     

Eurokrise: Erneute Atempause ist kein Grund zum Ausruhen

The current state of affairs in the euro area (EA) instills hope in economic recovery but also substantial concern. The crisis countries have made considerable, albeit quite uneven, progress in central areas of reform. Yet severe obstacles remain. Moreover, European policy makers have reformed the EA’s institutional framework to strengthen its resilience. Yet important elements of a stable architecture are still missing, and it remains unclear whether the EA is moving towards full integration or a Maastricht 2.0. Most importantly, since it has become impossible to construct a viable fi scal bridge due to the success of the OMT programme, now everything depends on the perseverance of domestic reform policies.     

The relevance of shopper logistics for consumers of store-based retail formats

This paper discusses and empirically evaluates the relevance of shopping-related logistics for consumers of store-based retail formats. Based on a literature review a conceptual model was developed and subsequently tested using a survey of more than six hundred consumers in the grocery retail sector. Respondents were those primarily responsible for grocery shopping in their households located in a highly concentrated European urban retail market. Variance based structural equation modelling reveals that shopper logistics has a major impact on the convenience of store-based shopping and partly influence consumers' perceptions of shopping related costs. Nevertheless, shopper logistics does not affect consumer behaviour in terms of the share of visits of a store. These results are moderated by age, hedonic shopping orientation, shopping frequency, average spending per trip and store format preference. We conclude that shopper logistics is relevant for consumers of grocery stores but its relevance varies between different shopper groups.