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Improving and innovating content-intensive processes

Project Description

Organizations are increasingly challenged to manage growing amounts of unstructured information. Problems that arise for information management concern the search, retrieval, and effective reuse of content across the corporation. Such problems emerge, among others, because processes are not sufficiently aligned with corporate content management.

An IS domain that studies the management of information in organizations is enterprise content management (ECM). ECM "is the strategies, tools, processes, and skills an organization needs to manage its information assets over their lifecycle" (Smith & McKeen, 2003). As such, ECM should be understood as both, an organizational as well as technological approach. However, past research on ECM has mainly addressed the technological side of ECM, neglecting organizational aspects of ECM like improving processes through ECM.

Therefore, this PhD project explores the potentials of organizational ECM initiatives for improving so-called "content-intensive processes". A process improvement framework that addresses three phases, namely analyze, change and monitor, will be used as a guiding structure for the study. The dissertation aims at developing tools and instruments that can guide and facilitate the improvement of content-intensive processes.

Relevance to Liechtenstein

Enterprise Content Management (ECM) is a contemporary topic for companies from all industries, and various regional companies are currently developing their ECM capabilities. The dissertation involves case studies with several Liechtenstein companies, for example, Hoval and Ivoclar Vivadent.

Keywords

Enterprise Content Management (ECM) Business Process Management Content intensive business processes

Project Participants

Employee
Dr. Andrea Harr
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Prof. Dr. Axel Winkelmann
- Co-Supervisor
Co-Supervisor
Prof. Tero Päivärinta
- Co-Supervisor
Co-Supervisor

Publications

Die spezifische Struktur Liechtensteins als Kleinstvolkswirtschaft

Project Description

"Country size matters", zu dieser Überzeugung kommen immer mehr Ökonomen (vgl. Alesina und Spolaore, 2003). Dennoch konnte in der Fachwelt bisher keine befriedigende Antwort darauf gegeben werden, welcher Zusammenhang zwischen der Grösse eines Landes und dessen wirtschaftlichen Erfolg besteht. Im Rahmen des Forschungsprojekts soll am Beispiel Liechtensteins die spezifische Struktur von Kleinstvolkswirtschaften und mögliche Grössenvor- bzw. -nachteile herausgearbeitet werden. Die Forschungsergebnisse sollen auch die Grundlage wirtschaftspolitischer Empfehlungen bilden.
Das Projekt gliedert sich inhaltlich in die drei Schwerpunktbereiche (i) Kleinheit, Offenheit und die Auswirkungen der Integration auf dem Arbeitsmarkt, (ii) Kleinheit, Wachstum und regionale Konvergenz und (iii) Kosten der Kleinheit im öffentlichen Sektor

Keywords

National economy

Project Participants

Employee
Prof. Dr. Carsten-Henning Schlag
- Principal Investigator
Principal Investigator
Employee
Dr. habil. Kersten Kellermann
- Project Collaborator
Project Collaborator

Publications

The role of macroeconomic factors and commodity markets in Foreign Exchange prediction

Project Description

The foreign exchange market is the largest and the most liquid financial market in the world. According to the Bank for International Settlements, the trading volume of the foreign exchange market amounts to $ 5.1 trillion per day as of April 2016. Foreign exchange rates have a strong impact on the business environment. The fluctuations on the currency market may expose business activities to risk directly, i.e. when the company operates in various countries, or indirectly, i.e. when the demand for a company's products and services is strongly related to the level of exchange rates. Furthermore, the impact of FX rates fluctuations and FX prediction on portfolio management is undeniable. Since the main idea of portfolio diversification is to limit possible losses through investments in various assets on domestic or international markets, currency risk management is crucial to ensure stable performance of portfolios and an adequate level of risk.

The objective of this PhD thesis is to investigate the impact of macroeconomic factors and commodity markets on the FX prediction for emerging and developed markets. A successful study should provide evidence of significant importance of these factors for FX prediction and a set of trading strategies will be developed based on the results.

Keywords

FX trading FX prediction

Project Participants

The role of cognitive flexibility in entrepreneurial opportunity recognition

Project Description

Entrepreneurial opportunity recognition is considered as a pivotal capability for entrepreneurial action and success. This is especially true for entrepreneurs who operate in complex and competitive environments, where the pressure is high to constantly seek and seize opportunities for innovative products and business models.
Currently, however, it is neither understood profoundly how individuals perceive and develop innovative opportunities effectively, nor how this multi-faceted process can be fostered on an individual level. This project aims at addressing these questions by means of approaches from cognitive psychology that have the potential to advance academic and practical knowledge by examining underlying cognitive abilities, motivations and consequent strategies.
Based on previous works, we argue that successful entrepreneurs have both a higher awareness for novel situations and do also better in linking new information to existing knowledge. We suggest that these entrepreneurs are guided by high levels of cognitive flexibility, which allows them to switch between different perspectives, while they contrast and connect different information pieces, by that triggering the process of entrepreneurial opportunity recognition.
Additionally, we hypothesize that a combination of cognitive and motivational aspects is indispensable in informing the way entrepreneurs identify opportunities. Thus, we plan to examine the need for cognition, an individual's tendency to enjoy effortful thinking. This characteristic is a promising alternative to rather metaphoric notions, such as entrepreneurial alertness.
The approach to take such a complex phenomenon to an individual level and studying underlying dispositions and strategies of entrepreneurs will contribute to a better understanding of success factors in setting up new ventures. Furthermore, the goal of this research is to provide actionable guidelines to enhance the efforts of novice and less successful entrepreneurs.

Relevance to Liechtenstein

Following recent calls from the government to enhance new business venturing and innovation at national level in Liechtenstein, this project's purpose is to examine individual strategies that are likely to foster the capability of entrepreneurial opportunity recognition. This capability is a pivotal prerequisite for novice and established entrepreneurs in Liechtenstein in order to develop innovative products, services and business models in dynamic and technological market environments.
We occupy an interdisciplinary perspective to gain a profound understanding about underlying cognitive abilities, motivations and strategies of very successful and innovative entrepreneurs. By that, we plan to develop actionable guidelines to be applied and facilitated in different areas in Liechtenstein, i.e., in entrepreneurship-related educational programs at the University of Liechtenstein or by means of tailored coaching and consultancy products at the Center for Small and Medium Sized Enterprises in Liechtenstein (KMUZ).

Keywords

Entrepreneurship Entrepreneurial opportunity Opportunity exploitation Opportunity recognition Business ideas

Project Participants

Employee
PD Dr. habil. Christian Marxt
- Principal Investigator
Principal Investigator
Employee
Prof. Dr. Dr. Sascha Kraus
- Project Collaborator
Project Collaborator
Employee
Dr. rer. oec. Zorica Zagorac-Uremović MSc
- Project Collaborator
Project Collaborator

The role of self and place in the digital world: Challenges for hybrid work and virtual collaboration

Project Description

Managers claim that the future will be characterized by hybrid ways of working, which means that employees will be more flexible in terms where to accomplish their tasks and when. So, remote work is expected to become a new normal for a great portion of knowledge workers. On its own, the research on remote work is not new. Various studies have been conducted to understand and assess the impact of remote work on employees' well-being, relationships with peers and work-family relationships. However, little is known about the challenges associated with the work from home (home office) in the context of hybrid work. Specifically, there is lack of understanding how employees perceive emerging spatial arrangements and associated working practices, i.e., how they orient themselves in the collapsed organizational, domestic, and cyberspaces.

So, in the current research project we focus on how individuals perceive the self and the place in new working contexts. We elaborate on the existing theories and frameworks and suggest advancement of the notions of the need for place and the need for self. We extend the understanding of the need for place as a need for a reference point for memories to sustain the self, and group identity and culture. In my research, I heavily rely on textual analysis using machine learning techniques.

Project Participants

Employee
Dr. rer. oec. Yulia Litvinova
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Employee
Prof. Dr. Iris Junglas
- Co-Supervisor
Co-Supervisor

The Role of the State in Digital Transformation: Value Creation with Emergent Technology – Liechtenstein’s Token Economy Case Liechtenstein

Project Description

Digitale Technologien wie künstliche Intelligenz, selbstfahrende Autos, das Internet der Dinge oder die Blockchain bieten im Rahmen der digitalen Transformation zahlreiche neue Möglichkeiten für die Wirtschaft und Gesellschaft. Gleichzeitig fehlen aber häufig die passenden institutionellen Rahmenbedingungen für Rechts- und Investorensicherheit sowie eine nutzerfreundliche Regulierung. Mögliche Inkonsistenzen mit dem vorliegenden institutionellen Kontext bieten Raum für Konflikte und können verhindern, dass nachhaltig Wert auf Basis dieser neuen Technologien generiert wird. Vor diesem Hintergrund untersucht die Dissertation, wie ein Staat einen institutionellen Rahmen schaffen kann, der es Organisationen - privatwirtschaftlichen Unternehmen wie auch öffentlichen Verwaltungen - ermöglicht, kontinuierlich Kapital (ökonomisch, sozial, human, symbolisch, organisatorisch) auf Basis digitaler Technologien zu schaffen. Die Untersuchung nutzt die Capital Creation Theory als Grundlage, speziell in ihrer Übertragung auf die sog. "Digital Capital Creation", um die Blockchain-Initiative des Fürstentums Liechtenstein zu rekonstruieren. Gegenstand der Blockchain-Initiative in Liechtenstein ist die Entwicklung eines institutionellen Rahmens für den Einsatz der Blockchain-Technologie, was insbesondere die Schaffung entsprechender Gesetzgebungen beinhaltet. Diese Initiative ist weltweit die erste ihrer Art und bietet somit eine einzigartige Möglichkeit, um den Mehrwert staatlich geschaffener Rahmenbedingungen und Strukturen zur Ermöglichung von Handlungspotenzialen im Kontext der digitalen Transformation zu untersuchen. Auf Basis des Fallbeispiels werden generelle Mechanismen der Kapitalkreierung mit digitalen Technologien erarbeitet, die für die Planung und Steuerung digitaler Transformationsprojekte im Allgemeinen verwendet werden können.

Keywords

Liechtenstein Blockchain digital transformation

Project Participants

Employee
Dr. rer. oec. Christoph J. Frick M.A.
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Prof. Dr. Axel Winkelmann
- Co-Supervisor
Co-Supervisor

The Role of the State in Digital Transformation: Value Creation with Emergent Technology – Liechtenstein’s Token Economy Case Liechtenstein

Project Description

Digitale Technologien wie künstliche Intelligenz, selbstfahrende Autos, das Internet der Dinge oder die Blockchain bieten im Rahmen der digitalen Transformation zahlreiche neue Möglichkeiten für die Wirtschaft und Gesellschaft. Gleichzeitig fehlen aber häufig die passenden institutionellen Rahmenbedingungen für Rechts- und Investorensicherheit sowie eine nutzerfreundliche Regulierung. Mögliche Inkonsistenzen mit dem vorliegenden institutionellen Kontext bieten Raum für Konflikte und können verhindern, dass nachhaltig Wert auf Basis dieser neuen Technologien generiert wird. Vor diesem Hintergrund untersucht die Dissertation, wie ein Staat einen institutionellen Rahmen schaffen kann, der es Organisationen - privatwirtschaftlichen Unternehmen wie auch öffentlichen Verwaltungen - ermöglicht, kontinuierlich Kapital (ökonomisch, sozial, human, symbolisch, organisatorisch) auf Basis digitaler Technologien zu schaffen. Die Untersuchung nutzt die Capital Creation Theory als Grundlage, speziell in ihrer Übertragung auf die sog. "Digital Capital Creation", um die Blockchain-Initiative des Fürstentums Liechtenstein zu rekonstruieren. Gegenstand der Blockchain-Initiative in Liechtenstein ist die Entwicklung eines institutionellen Rahmens für den Einsatz der Blockchain-Technologie, was insbesondere die Schaffung entsprechender Gesetzgebungen beinhaltet. Diese Initiative ist weltweit die erste ihrer Art und bietet somit eine einzigartige Möglichkeit, um den Mehrwert staatlich geschaffener Rahmenbedingungen und Strukturen zur Ermöglichung von Handlungspotenzialen im Kontext der digitalen Transformation zu untersuchen. Auf Basis des Fallbeispiels werden generelle Mechanismen der Kapitalkreierung mit digitalen Technologien erarbeitet, die für die Planung und Steuerung digitaler Transformationsprojekte im Allgemeinen verwendet werden können.

Keywords

Liechtenstein Blockchain digital transformation

Project Participants

The role of cryptocurrency in asset management

Project Description

Blockchain technology and digital currencies enable users to generate units of currency and transfer funds without intermediaries. With a market cap of approximately $6.4 billion, Bitcoin is the largest decentralized digital currency on the market. Banks, stock exchanges, and investment funds are taking notice of this innovative technology. Sophisticated instruments for investing in cryptocurrency have emerged including publicly traded Bitcoin funds, ETFs, uncollateralized lending, and arbitrage opportunities.

The objective of this research is to investigate if cryptocurrency is a valuable component of retail investor portfolios. A successful study will explain the risks associated with distributed digital currencies. Global regulation surrounding cryptocurrency will also be integral to understanding the role of digital currencies in asset management.

Keywords

Cryptocurrency Bitcoin

Participating Institutions

Project Participants

Employee
Prof. Dr. Michael Hanke
- Supervisor
Professor - Finance Dean - Liechtenstein Business School
Supervisor
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Employee
Dr. rer. oec. Demelza Kelso Hays
- PhD-Student
PhD-Student
Andrei Kirilenko PhD
- Co-Supervisor
Co-Supervisor

The role of cryptocurrency in asset management

Project Description

Blockchain technology and digital currencies enable users to generate units of currency and transfer funds without intermediaries. With a market cap of approximately $6.4 billion, Bitcoin is the largest decentralized digital currency on the market. Banks, stock exchanges, and investment funds are taking notice of this innovative technology. Sophisticated instruments for investing in cryptocurrency have emerged including publicly traded Bitcoin funds, ETFs, uncollateralized lending, and arbitrage opportunities.

The objective of this research is to investigate if cryptocurrency is a valuable component of retail investor portfolios. A successful study will explain the risks associated with distributed digital currencies. Global regulation surrounding cryptocurrency will also be integral to understanding the role of digital currencies in asset management.

Keywords

Cryptocurrency Bitcoin

Project Participants

Internatinal taxation of capital income and financial instruments in Europe

Project Description

Aim:
It is the aim of the research project to compare and analyse existing systems on the taxation of capital income and selected financial instruments in Europe. Especially the influence of taxation on the capital allocation of different investors and the choice of investments (kind and location of the investments) with respect to specific tax drivers shall be observed an evaluated. Additionally, the dissertation ought to explore the interaction between national tax laws, international tax treaties and multilateral aspects by means of how big their influence is on the benefits of investment alternatives, so that tax location factors for international financial centres can be identified and concrete tax strategies for jurisdictions can be concluded.

Approach:
First, systems of taxing several kinds of capital income and financial instruments in Europe are to be described, analysed and systematised. Subsequently, the tax drivers on different legal levels will be examined by means of aforementioned systems of taxation individually as well as interdependently in order to evaluate their effects. An analysis based on modeled investor decisions is able to identify the impact of several levels of taxation on capital income and selected financial instruments. Finally, founded on the results of the conducted research priorities in accelerating tax attractiveness of a location are to be identified from the position of a legal framework.

Keywords

Public finance Taxes
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