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Protected Cell Company (PCC) in Liechtenstein

June 2010 until December 2014 (completed) KTT

Project Description

The demands placed on Liechtenstein's financial centre are constantly increasing. In particular, with regard to company law, the parties involved require legal certainty in respect of allocation of liability in addition to flexibility. On the basis of this consideration, the Liechtenstein Government commissioned the Chair of Company, Foundation and Trust Law to draft a bill for the purposes of introducing a model of the protected cell company into the Liechtenstein Persons and Companies Act as part of the present project. On the basis of this draft bill, the provisions on protected cell companies (Art. 243ff. PGR) entered into force on 1 January 2015. These provisions take into account economic interests and also contain numerous provisions for the protection of creditors, thus creating a balance of interests. Ring-fencing the liability of legal entities is by no means new, as the means to do so were enshrined in the Investment Undertakings Act prior to the introduction of provisions governing protected cell companies into the PGR. Furthermore, ring-fencing is also permitted through the formation of (sub-)legal entities, trusts and trust enterprises with divisions. The implementation of the provisions for ring-fencing the liability of legal entities therefore represents the careful development of the PGR.

Relevance to Liechtenstein

This project was aimed at drafting a bill on behalf of the Liechtenstein Government for the purposes of introducing a model for protected cell companies into the Liechtenstein Persons and Companies Act. On the basis of this draft bill, the provisions on protected cell companies (Art. 243ff. PGR) entered into force on 1 January 2015. These provisions take into account economic interests and also contain numerous rules for the protection of creditors, thus creating a balance of interests.

Keywords

Corporate Law Knowledge and Technology Transfer Asset Management Economic Centre: Liechtenstein comparative law

Participating Institutions

Chair of Company, Foundation and Trust Law / Project Lead

Project Participants

Employee
Univ.-Prof. Dr. Francesco A. Schurr
- Principal Investigator
Visiting Professor - Company, Foundation and Trust Law
Principal Investigator
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Employee
Dr. iur. Ines Fässler LL.M.
- Project Collaborator
Project Collaborator
Employee
Jeannine Marte-Pitschmann BBA
- Student
Student

Publications

Promotion of healthy ageing, welfare and social security

November 2021 until April 2024 (completed) EEA grants

Project Description

The aim of project is to widen collaboration between countries outside SHARE research (Survey of Health, Aging and Retirement in Europe) area. SHARE is a research infrastructure for studying the effects of health, social, economic and environmental policies over the life-course of European citizens and beyond. SHARE is centrally coordinated by Prof. Dr. h.c. Axel Börsch-Supan, Ph.D. at the Munich Center for the Economics of Aging (MEA), Max Planck Institute for Social Law and Social Policy. It is harmonized with the U.S. Health and Retirement Study (HRS) and the English Longitudinal Study of Ageing (ELSA) and has become a role model for several ageing surveys worldwide.
The SHAE project is funded by the EU Commission (Horizon), the US National Institute on Aging, and nation-al sources, especially the German Federal Ministry of Education and Research.

Relevance to Liechtenstein

SHARE data have been collected in 28 European countries, but Liechtenstein is not yet covered.
This project aims to take a first step towards collecting a Liechtenstein SHARE dataset. This would allow Liechtenstein to be better integrated into the European research framework.
The project leader, Ieva Reine, is the head of the SHARE country team in Latvia and has a lot of experience with the collection of the SHARE dataset. Thus, this cooperation offers a great opportunity to benefit from this knowledge and transfer it to Liechtenstein.

Participating Institutions

Center for Economics / Partner

Project Participants

Employee
Dr. Tanja Kirn
- Project Manager
Head - Center for Economics Assistant Professor - Liechtenstein Business School
Project Manager
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The management of collaborative Information Systems research projects

September 2009 until June 2014 (completed) PhD-Thesis

Project Description

Today a major challenge in project management is the adaptation of commonly accepted conventional knowledge and practices to the needs of a specific project type and its characteristics. Despite the growing understanding that project success largely depends on the suitability of the project management method, most projects are still managed via a uniform management approach. This specific perspective has been subject to various discussions and shows limited applicability when dealing with “unconventional” project types. This is particularly evident for collaborative research projects which need a more contingent approach in project management taking into account the unique features of this project type. Research is conducted by a heterogeneous consortium established loosely through the availability of a funding opportunity and the common research interest. Funding opportunities are growing significantly with IT being a major industry in this respect. Thus public funded collaborative research projects take up an increasing percentage in the project portfolio of industry and academic organisations and their management becomes a major challenge that research organisations are facing today. Given this background, this research will focus on the management of collaborative research projects by contributing to the development of a tailored project management model. Core arise from the large degree of uncertainty in terms of research methods and outputs, individually oriented project personnel and the distinctive heterogeneity of involved stakeholders.

Keywords

Project Management Collaborative research Public funding Creativity

Participating Institutions

Hilti Chair of Business Process Management / Doctoral instiution
SAP (Schweiz) AG / Sponsor

Project Participants

Employee
Dr. Sonia Lippe-Dada MScIS
- PhD-Student
PhD-Student
Prof. Dr. Katarina Stanoevska-Slabeva
- Co-Supervisor
Co-Supervisor
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Publications

The Management of Collaborative Research Projects in Information Systems

September 2009 until June 2012 (completed) Preproposal PhD-Thesis

Project Description

Today a major challenge in project management is the adaptation of commonly accepted conventional knowledge and practices to the needs of a specific project type and its characteristics. Despite the growing understanding that project success largely depends on the suitability of the project management method, most projects are still managed via a uniform management approach. This specific perspective has been subject to various discussions and shows limited applicability when dealing with “unconventional” project types. This is particularly evident for collaborative research projects which need a more contingent approach in project management taking into account the unique features of this project type. Research is conducted by a heterogeneous consortium established loosely through the availability of a funding opportunity and the common research interest. Funding opportunities are growing significantly with IT being a major industry in this respect. Thus public funded collaborative research projects take up an increasing percentage in the project portfolio of industry and academic organisations and their management becomes a major challenge that research organisations are facing today. Given this background, this research will focus on the management of collaborative research projects by contributing to the development of a tailored project management model. Core arise from the large degree of uncertainty in terms of research methods and outputs, individually oriented project personnel and the distinctive heterogeneity of involved stakeholders.

Keywords

Project Management Collaborative research Public funding Creativity

Participating Institutions

SAP (Schweiz) AG / Sponsor

Project Participants

Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Employee
Dr. Sonia Lippe-Dada MScIS
- PhD-Student
PhD-Student

Productive Knowledge Management

March 2007 (completed) Internal Project

Project Description

Partner: FH Wiesbaden
The wealth of the Western civilization rests for the most part upon its ability of efficient management of manual labor which has been linked with an increase of productivity since the beginning of the industrial revolution. Unfortunately many mangers apply these - without a doubt - formerly successful management methods identically to today's jobs, which consist mostly no longer of manual but deal with brain work. Existing results indicate that this does not work. Compared to manual workers, knowledge workers are motivated by devoiant means, they work in a different way and they require other basic work conditions. To meet these challenges appropriately one has to deal with the economical and practical fundamentals of efficient knowledge work. But this hasn't been done sufficiently so far. That's why we want to develop concrete suggestions for the measurement, enhancement, and organization of efficient knowledge work within the framework of this research project.

Keywords

Information and data processing Strategic leadership and contrilling Knowledge management and organisational learning Organisational development Strategic Management

Participating Institutions

Chair in International Management / Project Lead

Project Participants

Employee
PD Dr. habil. Stefan Güldenberg
- Principal Investigator
Principal Investigator

Publications

Product evolution based on the Fluidglass (FB7) Project

March 2024 until August 2025 (completed) FFF-Funding Project

Project Description

This research aims to leverage the insights from the Fluidglass FB7 project (2013-2017) and apply transdisciplinary research methods. Our focus lies in analyzing changes in the technical, technological, and economic frameworks, considering sustainability aspects such as the EU Green Deal, Net Zero, and ESG. We examine how Fluidglass, as a sustainable facade technology, can drive innovative product definitions in the construction industry. The project aims to advance the transformation of the Fluidglass FB7 project and accelerate the development of sustainable research and product development. Furthermore, we work on integrating Fluidglass into the construction industry, focusing on technical optimization, certification processes, stakeholder collaboration, and automation. We utilize transdisciplinary methods and rely on local partnerships to promote acceptance and increase the sustainability and energy efficiency of buildings.

Relevance to Liechtenstein

Our interdisciplinary research at the University of Liechtenstein, in collaboration with the LBS Liechtenstein Business School, Department of Entrepreneurship & Management Technology & Innovation, demonstrates the cross-faculty significance of sustainable research tasks and their solutions. Through close collaboration with the local industry, we aim to develop innovative products to address global challenges. This research aims to strengthen regional competitiveness and promote the creation of new partnerships in Liechtenstein and beyond.

Scientific, Economic and Societal Impact

Our research has direct implications for industry and practice by bridging the gap between research and on site application. By analyzing changes in the frameworks and integrating sustainable technologies, we aim to accelerate product development in the construction industry.

Keywords

ESG Sustainability construction industry

Participating Institutions

Sustainable Design / Project Lead Technology and Innovation / Partner

Project Participants

Employee
Prof. Dr. Leo Brecht
- Principal Investigator
Professor - Technology and Innovation Academic Director MBA in Technology & Innovation - Technology and Innovation
Principal Investigator
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Employee
Prof. Dipl.-Arch. ETH/SIA Dietrich Schwarz
- Principal Investigator
Professor - Sustainable Design Academic Director BSc AR - Liechtenstein School of Architecture
Principal Investigator
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Employee
Dipl.-Ing. Wolfgang Simma-Wallinger
- Project Collaborator
Research Assistant - Sustainable Design
Project Collaborator
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Employee
Marie Scheuffele MSc
- Project Collaborator
Research Assistant / PhD Student - Technology and Innovation
Project Collaborator
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Employee
Niels Fetkenheuer MSc
- Project Collaborator
Research Assistant / PhD Student - Technology and Innovation
Project Collaborator
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Processing of informative signals on financial markets

December 2021 until September 2022 (completed) FFF-Funding Project

Project Description

Many decision-making models highlight the importance of informative signals as a relevant source of information
on financial markets. However, although this importance is undisputed as such, we know only little
about what kind of signals gain our attention, how we can increase salience of specific information sources,
how we perceive different types of signals and how they influence our decision behavior.
This is a follow-up project to the FFF-financed project Perception and Processing of informative signals on
financial markets. Within these projects we concentrate on experimental asset markets and focus on three
important aspects of signals. First, we look at existing trading screens and analyze what kind of information
gets the most attention by traders. In a second step, we will use the produced knowledge and analyze how
specific information sources that are objectively important can be visualized so that they become more
salient, hence get more attention and therefore lead to enhanced investor behavior. In a third step we
loosen the assumption that signals are provided for free. We analyze how costly information is spread (un-
)willingly over the market and how trader networks process and buy information.
Trading screens and interfaces of stock market traders display a wide range of data and are a main source
of information. Traders not only execute their trades via these interfaces, they also see a lot of condensed
and visualized information on them, like price charts, current prices, historical transaction data, fundamental
evaluations and many others. The existence and influence of different types of information has been
studied in the past, and it is undisputed that the level and the type of information a trader has available
influences his trading behavior. However, a clear analysis of what type of information provided really grabs
the attention of traders is still missing. We aim at filling this gap by conducting an eye-tracking study to
analyze which information sources are used when and to what degree. As a result, we aim to better understand
how information is perceived. We also want to deliver a strong methodological contribution to the
experimental asset market literature, which can use our findings to improve experimental trading interfaces.

Project Participants

Employee
Prof. Dr. Martin Angerer
- Principal Investigator
Professor - Innovative and Digital Finance Academic Director MSc IF - Liechtenstein Business School
Principal Investigator
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Employee
Dr. rer. oec. Marius Lennart Gramlich
- Project Collaborator
Project Collaborator

Publications

Process Science: Conceptual foundation for the interdisciplinary study of continuous change

November 2021 until April 2023 (completed) FFF-Funding Project

Project Description

Processes are sequences of actions and events, which take effect over time and in context. They guide our every-day activities, and they dynamically change over time. Processes can make an impact on our society and environment. So far, processes have been investigated from the lens of single disciplines, such as computer science, management science, organization science, engi-neering science or cognitive science. We cannot rely on a single discipline if we want to obtain a full picture of processes. We need to bundle and synthesize contributions, theories and methods from multiple disciplines. Process Science shall provide the opportunity to accumulate interdisci-plinary knowledge on processes in order to make a real-world impact. Therefore, Process Science is based on four key principles; it (1) puts processes at the center of attention, (2) investigates processes scientifically, (3) embraces perspectives of multiple disciplines, and (4) aims to create impact by actively shaping the unfolding of processes. The ubiquitous availability of digital trace data, combined with advanced data analytics capabilities, offer new and unprecedented oppor-tunities to study processes through multiple data sources, which makes Process Science very timely (vom Brocke et. al, 2021).

Relevance to Liechtenstein

1) The conceptualization of Process Science offers new great opportunities in research at a national and international collaboration. In both ways Liechtenstein profits as the origin/birthplace of the new term "Process Science".

2) With that empirical projects in Liechtenstein can be executed and Process Science take an active part in Liechtenstein`s industry.

3) The results will be disseminated via the Competence Center of Business Process Management at the Institute of Information Systems, which organizes regular steering board meetings and workshops with partners from industry, government and society. At each participating organization, such initiatives will help to address the local audience.

4) Due to the high recognition of the project members, we expect that project results will disseminate on regional and national levels. Additionally, the consortium partners will actively reach out to various stakeholders (e.g., via mailings, events, news material).

5) 5) We will translate our findings into teaching materials for students at the University of Liechtenstein.

Scientific, Economic and Societal Impact

The conceptualization of Process Science offers new great opportunities in research and international collaboration. From a practice point of view, organizations can benefit from the prescriptive knowledge that is generated through this project. Specifically, the definition and conceptualization of the idea can help organizations analyze application areas, make technological choices, and successfully implement Process Science in practice. Moreover, through this project, we intend to connect with regional companies and thus contribute to the network among various regional stakeholders. Digital trace data is everywhere and can be used to improve and handle business processes. Furthermore, we want to establish and shape the role of the "Process Scientist". We think in the future there is a need for experts in this field to improve the business process from multiple perspectives. To cum up, Process Science is inherently pragmatic as it strives to create knowledge that has instrumental value in solving real-word problems. As such, Process Science aims to produce knowledge that can make an impact on people, organizations and society. Process Science embraces processes on various levels and in different contexts, including both naturally evolving and intentionally designed processes, and examines how they interact over time. Insights we gain here shall enable and guide interventions to affect the course of things over time.

Participating Institutions

Hilti Chair of Business Process Management / Project Lead

Project Participants

Employee
Prof. Dr. Jan vom Brocke
- Principal Investigator
Visiting Professor - Information Systems and Process Science
Principal Investigator
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Employee
Dr. rer. oec. Gregor Kipping
- Project Collaborator
Project Collaborator
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Employee
Prof. Dr. Thomas Grisold
- Project Collaborator
Project Collaborator

Publications

Principles for Information Systems Development

May 2015 until May 2017 (completed) FFF-Funding Project

Project Description

Design principles are an important vehicle to convey design knowledge that contributes beyond instantiations applicable in a limited use context. Design principles are often formulated as the outcome of design science research and can be applied to guide information systems (IS) design in practice. While the idea of using design principles in design practice is not new, the term is not used consistently and is often substituted by other terms that refer to the same or similar ideas - design guidelines, design rules, or design norms, to name a few.
While the IS literature is rife with frameworks that describe the constitutive components of design theories, this is not the case for design principles. Despite their palpable relevance there is a lack of convention as to how design principles should be formulated, and what formulations are effective. It seems to be taken for granted that design principles are design principles if introduced as such.
Through our research, we address the lack of convention about how design principles should be formulated, and we seek to provide an effective formulation of design principles. The outcomes of this study are expected to be of high relevance to scholars in design science research as well as to professionals in the practice of information systems development.

Relevance to Liechtenstein

Information systems have been the most important contributor to economic growth over the past decades. Prescriptive knowledge about the design of information systems is of high relevance to any organization that develops and implements information systems. Liechtenstein companies will thus benefit from the university's expertise on how such knowledge can be effectively formulated and communicated in terms of design principles.

Keywords

Information Systems

Participating Institutions

Hilti Chair of Business Process Management / Project Lead

Project Participants

Employee
Dr. Leona Chandra Kruse
- Project Collaborator
Project Collaborator
Prof. Dr. Stefan Seidel
- Principal Investigator
Principal Investigator

Publications

Pricing Factors for Prediction Models

January 2011 until January 2013 FFF-Funding Project

Project Description

....

Participating Institutions

Forschungsförderungsfonds der Universität Liechtenstein / Sponsor

Project Participants

Employee
Prof. em. Dr. Marco J. Menichetti
- Principal Investigator
Professor Emeritus - Liechtenstein Business School
Principal Investigator
Employee
Jürg Fausch M.Sc.
- Project Collaborator
Project Collaborator
Employee
Dr. Aron Veress MSc
- Project Collaborator
Project Collaborator
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