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The Relevance of Data Quality in Business Process Management

Project Description

Enterprise-wide optimization strategies are often neglected in data management research. Value analysis, therefore, remains mainly at the facts which leads to a mismatch between the actual corporate strategy and the prioritization of necessary measures for reassuring and promoting data quality. Very often business objectives are therefore not reconciled. The goal of this doctoral study is to complement existing research on data management as a methodological approach. This approach aims at facilitating a holistic use of data management and in that to focus on targets by a selective use of quality improving measures. This way the business process management aimed at is meant to be ensure. In order to prioritize the measures to be identified, they require a pre-analysis and evaluation beforehand by applying a value-oriented approach.

Keywords

Business Process Management Data quality management Data quality

Participating Institutions

Project Participants

Employee
Dipl.-Betriebswirtin (FH) Carolina Andrea Dreifuss-Aravena MScIS
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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The impact of financial stress on FX trading strategies

Project Description

The markets for the major world currencies are highly liquid with large volumes and numbers of transactions. Trading in these markets is 24/7. Compared to markets for other financial assets, these markets should therefore be closest to the theoretical ideal of efficient markets. Many studies confirm this by showing that classical economic FX rate models find it difficult to explain FX rates better than a simple random walk model ("Meese and Rogoff puzzle"). In contrast to that, other studies show exactly for these markets a persistent success of technical trading rules. There are hints that the forecasting power of certain technical indicators is regime-dependent, i.e. they behave differently in times of crisis compared to calm market phases. In this project, we will investigate the effect of in-cluding various crisis indicators on the performance of FX trading strategies.

Participating Institutions

The Impact of Deposit Insurance on European Depositor Behavior in a Banking Crisis

Project Description

The basic objective of this study is to test whether the monitoring activity of the European professional - defined as one with a meaningful level of financial knowledge - could be affected by variations in the deposit insurance system. This research intends to engage depositors who are professionals in the broader finance sector of European countries. We use a unique empirical methodology and this well-defined sample of professionals from each country in the Forum. The professionals will be asked to engage in an online exercise to determine if well-informed investors respond consistently to variations in deposit insurance design.

That deposit insurance reduces the perceived need of depositors to monitor their respective banks has been a long held assumption. However, in the extensive banking research prior to this study, there has been no reported evidence on how professional investors exposed to variations in the insurance may vary in their monitoring activity. The results of our study will provide important insight into the effects of increasing EU harmonization on depositor behavior on a country by country basis during a banking crisis.

This research approach is of particular interest as deposit insurance schemes have remained relatively heterogeneous - in terms of organization, administration, coverage and financing -- across member states since the introduction of the first European Deposit Guarantee Scheme (DGS) in 1994. Only recently, brought about by the financial crisis in 2008, has the EU pushed for new EU wide provision for DGSs with the most recent ones to be applied from July 2015 onwards. Our study proposes to quantify the potential for success by testing the level of convergence in depositor behavior across member states following the introduction of a revised DGS aiming for EU-wide harmonization.

Keywords

Behavioural Finance European Banking Legislation Behavior design

Project Participants

Employee
Dr. Lars Kaiser
- Project Coordinator
Project Coordinator
Prof. Roger Stover
- Professor
Professor

Die Agglomeration von der Landschaft her planen

Project Description

Die landschaftsverträgliche Gestaltung von Agglomerationsräumen sowie die Wahrung qualitätsvoller und ausreichender Frei- und Grünräume im Prozess der Verdichtung sind zentralen Herausforderungen der Schweizerischen Landschaftspolitik, Raumplanung und Biodiversitätsstrategie in den nächsten Jahrzehnten. Auf politischer Ebene wird dies u.a. durch die Revision des Raumplanungsgesetzes zum 1.Mai 2014 oder in den Agglomerationsprogrammen des Bundes deutlich. Das Bundesamt für Umwelt hatte im November 2015 das Architektur- und Städtebaubüro ernst niklaus fausch Architekten beauftragt, in einem halbjährigen Forschungsvorhaben über das Verhältnis von Agglomeration und Landschaft nachzudenken. Ergebnis war der Grundlagenbericht "Agglomeration von der Landschaft her denken. Forschungsstand. Thesen. Forschungslücken" aus dem Jahre 2016.
Mit dem Projekt "Agglomeration von der Landschaft her planen" ist die Universität Liechtenstein zusammen mit Ernst Niklaus Fausch Partner nun beauftragt, auf einer anwendungsbezogenen Ebene konkrete Fallbeispiele zu untersuchen, die Agglomeration von der Landschaft her denken und die Umsetzung planungsrechtlicher Instrumente vorbildhaft zeigen. Die Analyse und Auswertung dieser Fallbeispiele ermöglicht eine Übertragbarkeit bzw. konzeptionelle Nutzbarmachung der in den Projekten gemachten Erfahrungen zur Umsetzung der Gestaltungsidee, dem Prozessdesign und der Wirkung von Instrumenten und Massnahmen. Ergebnisse der Analyse der Fallbeispiele sind:
  • ein Kriterienkatalog, der bei Wettbewerben, Studienaufträgen etc. die Gewichtung und Bewertung von landschaftsorientierten Entwurfshaltungen ermöglicht;
  • ein Leitfaden für die Umsetzung von landschaftsorientierten Projekten und ihr Prozessdesign;
  • Rückschlüsse zur Anschlussfähigkeit an die Planungsrechtlichen Bundesinstrumente.

Keywords

Landscape architecture Territorial development Landscape Development Spatial Development

Project Participants

Employee
Dr. Anne Brandl
- Project Manager
Project Manager

Developing Process Mining Capabilities at the Enterprise Level (ERASMUS+)

Project Description

Digital technologies affect all areas of contemporary work. They support, replace or augment human work, and they require special skills and competencies by those who use them. Process mining is a fast-growing technology concerned with managing and improving business processes. The potentials associated with process mining are vast and the market is estimated to grow tenfold over the next ten years. Yet, there is little knowledge about how to adopt, use and manage this digital technology. This is important, however, because despite its potentials, it is often reported that process mining leads to misuse or discontinuance of use altogether. Hence, our work intends to support practitioners, and future students, in understanding, estimating and managing the implications of process mining. We will develop process mining capabilities which are related to the adoption, use and management of process mining. At this, our goal is to empower practitioners and higher education students to fully embrace the potentials of this technology. An important part of our project is to assess and analyze the needs and expectations of companies by means of empirical studies. As process mining is relevant for different organizations operating in diverse contexts, we will keep our findings broadly applicable and freely accessible.

Relevance to Liechtenstein

We will gain an in-depth understanding of practitioners' needs and expectations with regards to pro-cess mining. Our findings will be openly shared with researchers and practitioners in Liechtenstein, but also with researcher all over the world. The project will enhance capabilities of local companies in Liechtenstein and students with regards to process mining adoption, use and management. Regional partners of the consortium will engage with regional stakeholders (directly and indirectly) to identify needs and requirements related to process mining. This should allow to design the capability framework(s) in a way that reflects regional demands. Thus, regions should benefit from companies which use process mining and make considerable savings in terms of time and cost efficiency. We will translate our findings into teaching materials which can applied in organizational setting. We will also teach them to students at the University of Liechtenstein. All materials will be openly accessible.

Scientific, Economic and Societal Impact

At the core of our findings will be the interdisciplinary process mining capability framework(s) as well as methods to executive process mining projects, which will integrate the technical, managerial and organizational aspects of process mining. The(se) capability framework(s) will empower practitioners and higher education students to make the most out of this technology. The associated savings in terms of cost and time efficiency will benefit not only various organizations but the national and European economy in broader terms. Celonis even claims that process mining could reduce the carbon footprint of companies as they are using this technology.

Developing Process Mining Capabilities at the Enterprise Level

Project Description

Digital technologies affect all areas of work. These technologies, whether supporting, substituting, or enhanc-ing human efforts, demand specific skills and competencies from users. Process mining, as a rapidly expand-ing technology focused on streamlining and enhancing business processes, presents significant opportunities. Recent developments, such as the acquisition of process mining vendor Signavio by SAP for 1 billion Euros and findings from the Global Process Mining Survey by Deloitte (2021), underscore its growing importance. With 63% of survey participants already implementing process mining and 85% of non-adopters planning pilot projects, it is evident that adoption is on the rise. However, despite its potential benefits, there is a lack of understanding on how to effectively adopt, utilize, and manage this technology. Reports indicate instances of misuse or complete discontinuation of use. Therefore, our interest in this project lied in contributing to the support of practitioners and future students in comprehending, assessing, and navigating the implications of process mining. By implementing the project, our aim was to develop process mining capabilities specifically geared towards facilitating its adoption, utilization, and management. Our primary objective was to empower both practitioners and higher education students to embrace the potential of this technology. A pivotal aspect of our endeavor involved conducting a large qualitative study to assess and analyze the needs and ex-pectations of practitioners. Recognizing the relevance of process mining across various organizational set-tings, our intention was to ensure that our findings remained broadly applicable and readily accessible to all.

Project Participants

Employee
Prof. Dr. Thomas Grisold
- Project Collaborator
Project Collaborator
Employee
Dr. rer. oec. Gregor Kipping
- Principal Investigator
Principal Investigator
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Developing leaders for a complex world: The emergence and effects of charismatic leadership and organizational unlearning

Project Description

Effective leadership allows companies to navigate the uncertainties inherent in rapidly changing markets. These challenges are usually met by high adaptability, which relies on a managerial force that initiates necessary organizational changes and guides their employees through them. Many companies either fail to react to changes, or are incapable of successfully making their employees engage with the necessary organizational adaptations. Both are core functions of effective leadership. In fact, recent findings show that effective leaders are deemed in short supply, both in the economy and wider society.
Charismatic leadership is the most effective form of leading, enhancing the performance of a company at all levels, and facilitating organizational change. However, the concrete behaviors and techniques that constitute charismatic leadership are hitherto sparsely researched, and the processes which aid organizational adaptation largely unknown.
Our research develops a solution applicable to training managers in charismatic leadership, thereby facilitating organizational changes through the enhancement of learning processes. Our evidence-based program of training, aimed at organizational leaders in Liechtenstein and the surrounding region, has been developed with high scientific rigor. It trains leaders in employing effective techniques and strategies to effect charismatic leadership in their organizational contexts, as well as training learning processes that stimulate the company's adaptability.
The program will be implemented in, among other, the Master of Business Administration: Technology and Innovation of the University of Liechtenstein. The effectivity of the training is evaluated following scientific standards, by carefully mapping differentiated changes in leadership behavior.
The criteria for success of the project are the development of an effective Leader Development Program for the managers of the region, as well as the identification and processing of the learning mechanisms of organizational change. The results of our research will be employed by the University of Liechtenstein for both education and consulting, as well as being published in leading scientific journals.

Project Results:

Keywords

Leadership Charismatic Leadership Leader / Leadership Development Programs Leader Development Leadership Development

Project Participants

Employee
Thomas Maran PhD
- Principal Investigator
Principal Investigator
Employee
Dr. rer. oec. Simon Liegl MSc
- Project Collaborator
Project Collaborator
Employee
Dr. Adrian Klammer
- Principal Investigator
Principal Investigator
Employee
Prof. Dr. Marco Furtner MBA
- Project Collaborator
Professor - Entrepreneurship and Leadership Academic Director MSc EIL - Liechtenstein Business School
Project Collaborator
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Employee
Prof. Dr. Alexander Zimmermann
- Project Collaborator
Project Collaborator

Developing a Capital Management System for a Life Insurance Undertaking

Project Description

The aim of the project is to develop a tailor-made capital management system for a small life insurance company in Liechtenstein.
The many different impacts on the liquidity of a life insurance undertaking are analysed. With that knowledge, a capital management system was developed, which also offers prospects on the future liquidity of the company.

Project Participants

Employee
Prof. em. Dr. Marco J. Menichetti
- Principal Investigator
Professor Emeritus - Liechtenstein Business School
Principal Investigator
Employee
Christoph Böckle MBA
- Project Collaborator
Project Collaborator

Detection of Malicious Cryptomining in Network Metadata

Project Description

Cryptocurrencies and related blockchain technologies are one of the most fascinating developments in information technology in the last decade. In 2017, the cryptocurrency market hit an all-time high valuation of over $600 billion. Since then, the market has demonstrated its genuine interest in this new technology, and cryptocurrencies have proved to be a revolutionary asset class. Numerous projects and companies have emerged to provide innovative products and services running on top of public blockchains.

The growing importance of cryptocurrencies and the potential financial gains attracted not only investors but also malicious actors. Security incidents in organizations dealing with cryptocurrencies resulted in massive financial losses and in some cases, even bankruptcy of the victims. Illicit cryptocurrency mining is another stealthy but not less lucrative attack technique. By deploying mining software on users' computers or even running it in their browsers, the miscreants can obtain steady income of up to tens of thousands US$ per month.

To mitigate the threat of illicit cryptomining, in this project we investigate techniques for detecting both in-browser and malware based mining through network traffic analysis. Our approach for detection of illicit mining uses network metadata produced by routers and switches that support NetFlow. These devices can collect IP traffic statistics and export them as NetFlow records which can be analyzed by machine learning techniques. The new approach should enable accurate detection of illicit mining activity while at the same time avoiding privacy implications arising from analysis of cleartext network traffic. In contrast to related work, our approach is much more practical from the operational point of view. It does not require installation of special monitoring software on endpoint devices and substantially raises the bar for successful evasion.
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