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Culture in Business Process Management (BPM): Exploring the Cultural Fitness of Organizations for BPM

July 2012 until September 2014 (completed) FFF-Funding Project

Project Description

The research project aims at developing a deeper understanding of organizational culture in the context of BPM. It particularly focuses on objectives in the following three domains.

Body of knowledge in science
While research on the role of culture in business process management has been acknowledged to be highly relevant by both practitioners and academics, a significant lack of research on the topic can be identified. Therefore, this project aims at contributing to the body of knowledge in the BPM field through insights on the role of organizational culture in BPM, i.e. basic findings on how to analyze and achieve the cultural fitness of organizations for BPM.

Academia
In the context of this research project, it is intended to build up an international research group on the topic culture in BPM. Therefore, an academic board of the research project has been established, including members who are particularly interested in research on the topic. The research project further aims at reflecting common research approaches of this international group based on this project. Beyond, the research project is intended to support the dissertation of Theresa Schmiedel, PhD student at the Institute of Information Systems, and further dissertations which follow up on this project.

Practice
Based on the identified relevance of the research topic for local practitioners in Liechtenstein, the research project is intended to directly provide useful insights for the industry partner involved in the research project. Furthermore, the project aims at distributing the findings among practitioners in the region via existing networks associated with the Institute of Information Systems.

Academic Board
Jan Recker, Queensland University of Technology, Brisbane, Australia
Stijn Viaene, Katholieke Universiteit Leuven, Belgium
Willem Mertens, Katholieke Universiteit Leuven, Belgium
Tyge Kummer, Humboldt-Universität zu Berlin, Germany
Peter Trkman, University of Ljubljana, Sloveni

Relevance to Liechtenstein

Regional companies benefit directly from the project since it allows to assess the cultural fitness of organizations for BPM. The analysis helps organizations to further develop their corporate culture to facilitate BPM. Ivoclar Vivadent is involved as a project partner, other companies that contribute to the project are Oerlikon Balzers, Oerlikon Mechatronics, and ThyssenKrupp Presta.

Participating Institutions

Forschungsförderungsfonds der Universität Liechtenstein / Sponsor Hilti Chair of Business Process Management / Project Lead
Ivoclar Vivadent AG / Partner

Project Participants

Employee
Prof. Dr. Theresa Schmiedel
- Project Manager
Project Manager
Employee
Prof. Dr. Jan vom Brocke
- Project Collaborator
Visiting Professor - Information Systems and Process Science
Project Collaborator
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Publications

CSR Gap and Firm's Financial Performance

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

Project Description

The research project aims to deeply study the concept and impact of corporate social responsibility (CSR) gap, which is defined as the difference between what a company claimed to do and what the company actually did in terms of CSR practices. The project plans to produce two research papers: the first paper sets focus on studying the impact of CSR gap on firm risk; the second paper tries to treat CSR gap as an expectation error factor and utilizes it to explain the value premium generated by holding value firms with strong fundamentals. We build our CSR gap measures on both Bloomberg ESG database and Thomson Reuters ASSET4 database. The sample covers all firms from 2003 onwards, included in the two databases. In the first paper, we apply a panel methodology to test the impact of CSR gap on firm risk. Consequently, the contribution of the first paper is the explicit analysis of the impact of CSR gap on total, systematic and idiosyncratic firm risk, as well as higher moments of risk – namely vol-of-vol, skew-of-vol and kurt-of-vol. In the second paper, we apply a time-series factor regression to check the impact of CSR gap on the value premium. As such, we try to use CSR theories to explain traditional asset pricing problems, which enhances the connection between sustainable finance and traditional finance.

keywords: Sustainable investing; ESG; CSR gap; corporate risk; value investing; growth investing.

Relevance to Liechtenstein

Der Finanzplatz Liechtensteinstein hat sich der "Nachhaltigkeit" verschrieben. Entsprechend ist ein gutes Verständnis zur Bewertung von Nachhaltigkeitsaspekten in der Finanzindustrie, sowie Innovative Investitionsstrategien von zentraler Bedeutung.

Scientific, Economic and Societal Impact

Wir tragen zur Literatur und zum Verständnis der CSR-Gap in Bezug auf das Unternehmensrisiko und den Wert/Glamour-Effekt bei, was aus zwei Hauptgründen wichtig ist: Erstens gibt es mit der anhaltenden Börsenrallye immer mehr skeptische Meinungen über einen möglichen Marktschock/eine mögliche Marktanpassung. Daher ist es wichtig, die Rolle der CSR-Gap/Entkopplung als potenzielles Risikomanagementinstrument in der Praxis zu verstehen. Zweitens gibt es die Wert/Glanz-Debatte schon seit Jahrzehnten, und auch das Bewusstsein der Anleger für die Bedeutung von CSR-Themen nimmt immer mehr zu. Unsere Studie versucht, CSR-Theorien zur Erklärung traditioneller Fragen der Preisgestaltung von Vermögenswerten zu nutzen, was einen neuen Ansatzpunkt für weitere Forschung eröffnet.

Participating Institutions

Chair in Business Administration, Banking and Financial Management / Project Lead

Project Participants

Employee
Dr. Lars Kaiser
- Principal Investigator
Principal Investigator
Employee
Dr. rer. oec. Tian Luan MSc
- Principal Investigator
Principal Investigator

CRD IV Basel III

October 2011 until May 2014 (completed) Contract Research

Project Description

Das Projekt betrifft die Kapitalisierung Liechtensteinischer Banken unter Berücksichtigung der Europäischen Regelwerke (CRD IV/CRR) und globalen Standards (Basel 3). Kernfragen des Projekts sind die Äquivalenzanforderungen der internationalen Finanzmarktregulierung, die eine Voraussetzung für die grenzüberschreitende Tätigkeit und Anerkennung sind, sowie die Frage der Größenproportionalität (Überregulierung?) angesichts in Liechtenstein recht kleiner Einheiten.

Relevance to Liechtenstein

Das Projekt betrifft die Kapitalisierung Liechtensteinischer Banken unter Berücksichtigung der Europäischen Regelwerke (CRD IV/CRR) und globalen Standards (Basel 3).

Participating Institutions

Chair for Banking and Financial Market Law / Project Lead

Project Participants

Employee
Prof. Dr. Dirk Zetzsche LL.M. (Toronto)
- Professor
Professor

CRAFTING THE FACADE: Reuse, Reinvent, Reactivate

September 2014 until August 2017 (completed) Erasmus

Project Description

The strategic partnership „CRAFTING THE FACADE: Reuse, Reinvent, Reactivate" is directed and coordinated by the University of Liechtenstein, Prof. Urs Meister and DI Carmen Rist-Stadelmann. The aim of the partnership is to establish an intensive cultural and social exchange between the participating students and teachers of the three partner Universities, the Academie van Bouwkunst in Amsterdam, the Mackintosh School of Architecture in Glasgow, and the University of Liechtenstein, concerning the subject of building envelopes and the concerned architectural traditions.

The project „CRAFTING THE FACADE: Reuse, Reinvent, Reactivate" fosters an interdisciplinary approach that enriches the focus on architectonic and constructive notions with cultural, social and economic issues that promote the discussion on structural and material aspects within the European building tradition.

With the definition of three terms reuse, reinvent and reactivate, a clear emphasis is placed on the existing and future building culture. Reuse analyses existing constructions, components and building materials. Reactivate is concerned with traditions in craftsmanship and technical aspects. With reinvent, we learn from existing buildings and try to take advantage for the future. Against the background of the climate change and the current need for resource efficient building, these fields of research allow defining the design of building envelopes in an innovative way and to meet the targets of the strategy 2020 of the European Commission.

The programme consists of three parts: education, research and results. In the participating Universities, existing teaching modules are combined with new elements that create a whole new environment. In education, design studio are supplemented with the joint workshop that is dedicated to prototyping in scale 1:1. In research, a parallel topic is explored and documentet on the interactive e-learning platform. During the whole project, results of the design

Participating Institutions

Institute of Architecture and Planning / Project Lead
Europäische Kommission Brüssel / Sponsor

Project Participants

Employee
Dipl.-Ing. Dr. techn. Carmen Rist-Stadelmann
- Project Manager
Senior Lecturer - Craft and Structure
Project Manager
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Employee
Prof. em. Dipl. Arch. ETH Urs Meister
- Project Collaborator
Project Collaborator

Crafting Clay - Exploring circularity with local earth

September 2024 until August 2027 Erasmus

Project Description

Against the background of the discussion about sufficiency and grey energy in building production, the project consortium is interested in the investigation of the regionally available material clay and its charac-teristics of the regional soil in this project proposal. The investigation of clay as a material, which was traditionally used in the past and has been forgotten, is gaining enormous importance again today. With mod-ern mechanical processes, it is now possible to produce pure earth constructions or in combination with other materials that were previously produced by hand. In this application, we are also looking at and analysing existing technical and craft traditions and aspects of earth building, learning from our existing build-ings and trying to draw lessons for the future. Against the backdrop of climate change and the imperative of resourceconserving construction, this subject area makes it possible to establish and redefine new al-ternatives in construction and thus enrich the European discourse on the intelligent, sustainable and re-source-conserving use of materials in the long term.

In the four countries involved in the partnership, this topic is currently being discussed and evaluated in fundamentally different technical and cultural ways. Through these different approaches in combination with practical expertise from the construction industry, the project is creating a unique and enriching basis of new knowledge in the European context, both for the academic context and for construction practice.

The activities conceived in this project, consisting of a design studio, online - lecture and workshop, enable reviews and implementation on the topic described. The experience and development steps gained in the process ensure a direct, lively and practical exchange between the participating universities and the con-struction industry. The project thus provides important innovative aspects and new impetus on this topic for the European dimension.

The dissemination of the experience gained from the three-year project partnership "Crafting Clay - Exploring circularity with local earth" will be through a symposium, homepages of the respective partner universities and a publication by Park Books Verlag, Zurich.

Relevance to Liechtenstein

Das Projekt will durch die Nutzung und Erforschung der Kreislauffähigkeit des Materials Lehm einen wichtigen Beitrag zur Reduzierung der grauen Energie in der Bauproduktion leisten. Vor dem Hintergrund der Diskussion um den Klimawandel und die Notwendigkeit der Ressourcenschonung im Bauwesen sind wir daran interessiert, die kulturelle und historische Verwendung von Lehm in den vier beteiligten Partnerländern zu analysieren. Ziel dieses Projektantrags ist es, dieses Wissen mit unseren aktuellen Anforderungen zu verknüpfen und mit den vier Projektpartnern als europäische internationale Kooperation neue innovative Ansätze für die Zukunft zu entwickeln und zu erproben. Diese Projektziele stehen im Einklang mit dem Forschungsschwerpunkt "Innovation, Gesellschaft und Nachhaltigkeit" der Universität Liechtenstein.
Die angestrebte interdisziplinäre Zusammenarbeit zwischen Hochschulen und Erdbaupraxis ermöglicht eine innovative und kreative Partnerschaft zwischen diesen beiden Bereichen. Das von den Projektteilnehmern, bestehend aus Studenten und Dozenten der vier Partneruniversitäten, entwickelte Fachwissen in den Bereichen Design, Architekturtheorie und dem Know-how von Lehmbauspezialisten bereichert dieses Projekt. Dieses Fachwissen ist im europäischen Architekturdiskurs eine absolute Notwendigkeit und von großer Bedeutung für Umwelt und Gesellschaft.
Der Mix aus verschiedenen Lehrmethoden schafft einen Dialog zwischen Akteuren aus internationalen Universitäten und Praktikern. Durch diese innovative Lehr- und Lernpraxis erwerben die teilnehmenden Studierenden ein breites Fachwissen und erweitern gleichzeitig ihre unternehmerischen Fähigkeiten. Dazu werden gemeinsame Designstudios und Online-Vorlesungen zu einem gemeinsam definierten Inhalt entwickelt und in einem 1:1-Workshop erprobt. Damit leistet das Projekt einen engen und wichtigen Beitrag zur Verwirklichung eines Europäischen Hochschulraums mit den beteiligten Hochschulen.

Participating Institutions

Craft and Structure / Project Lead Katholieke Universiteit Leuven / Partner Stichting Amsterdamse Hogeschool Voor De Kunste / Partner Norges Teknisk-Naturvitenskapelige Universitet NTNU / Partner

Project Participants

Employee
Prof. em. Dipl. Arch. ETH Urs Meister
- Principal Investigator
Principal Investigator
Employee
Dipl.-Ing. Dr. techn. Carmen Rist-Stadelmann
- Project Manager
Senior Lecturer - Craft and Structure
Project Manager
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Crafting Circularity – Rethinking Sustainable Design and Construction in Architecture Through Reusability

September 2020 until September 2023 Erasmus

Project Description

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Project Participants

Employee
Prof. em. Dipl. Arch. ETH Urs Meister
- Principal Investigator
Principal Investigator

Crafting Circularity - Rethinking Sustainable Design and Construction in Architecture Education

February 2022 until February 2025 Erasmus

Project Description

3 Jahre dauernde Research Kooperation zum zirkulären Bauen und Entwerfen mit Holz.
Projektkoordination: (U Antwerpen)
Projektpartner mit der Norwegian University of Science and Technology, Trondheim NO und der Academie van Bouwkunst, Amsterdam LNL und der University of Thessaly

Participating Institutions

Craft and Structure / Partner
Europäische Kommission Brüssel / Sponsor
University of Antwerp / Project Leader Stichting Amsterdamse Hogeschool Voor De Kunste / Partner Norges Teknisk-Naturvitenskapelige Universitet NTNU / Partner Panepistimio Thessalias / Partner

Project Participants

Employee
Dipl.-Ing. Dr. techn. Carmen Rist-Stadelmann
- Project Manager
Senior Lecturer - Craft and Structure
Project Manager
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Publications

Corporate Tax Avoidance and Tax Havens

February 2020 (completed) Preproposal PhD-Thesis

Project Description

Under the influence of anecdotal evidence from multinational companies (MNEs) such as Google, Apple, or Nike, the fight against profit shifting, tax evasion, and tax avoidance by MNEs has been a major action point on the international community's agenda. As a result, multinational agreements were made, especially as part of the OECD's Base Erosion and Profit Shifting Project, to expand the world tax order by anti-abuse provisions and provisions on international administrative cooperation.
This doctoral project aims to provide a legal and economic analysis of selected initiatives aimed at restricting tax avoidance by MNEs. It is intended to evaluate legal provisions and to analyse the behaviour of deemed tax havens and MNEs to specific countermeasures taken by the international community to assess their success in restricting tax evasion and avoidance.

Keywords

Tax evasion Tax avoidance Profit shifting BEPS Tax havens

Project Participants

Employee
Olivia Hohlwegler MSc
- PhD-Student
PhD-Student
Employee
Prof. Dr. Martin Wenz
- Supervisor
Professor - Business Management Taxation and Tax Law Academic Director - Liechtenstein Executive School
Supervisor
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Corporate Sustainable Performance

September 2022 (completed) Preproposal PhD-Thesis

Project Description

The research project Corporate Sustainable Finance aims to explore the intersection between corporate finance and sustainable business practices. Given the growing global challenges related to environmental and social issues, it is crucial for companies to integrate sustainable practices into their business models. This requires not only a rethinking of environmental and social responsibility, but also innovative financing mechanisms to support these goals.

The research will address various aspects of this issue, including the assessment of sustainability risks and opportunities for companies, the development of instruments for financing sustainable projects, and the analysis of the impact of sustainable financial strategies on long-term company performance. It will focus on different industries and company sizes to develop a comprehensive understanding of the challenges and opportunities in this area.

The research aims to provide practical insights for companies, investors and regulators to facilitate the transition to a sustainable economy. Ultimately, the research will contribute to the design of financing solutions that promote both economic success and positive environmental and social impacts.

Project Participants

Employee
Sabrina Urban MSc
- PhD-Student
Research Assistant / PhD Student - Sustainable Finance and Investments
PhD-Student
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Employee
Prof. em. Dr. Marco J. Menichetti
- Supervisor
Professor Emeritus - Liechtenstein Business School
Supervisor

Corporate sustainability and its implications on company (non-) financial performance

since September 2020 PhD-Thesis

Project Description

This research project focuses on alternative perspectives on sustainability by examining the interdependencies of corporate sustainability efforts and firm performance. By integrating (non-) financial indicators into the analysis, the research outcome provides indications for not just corporate financial management but also for innovation decisions, and organizational structures of companies from various industries. Ultimately, the research project is strongly interdisciplinary and embraces knowledge from different faculties and areas of research.

Project Participants

Employee
Prof. em. Dr. Marco J. Menichetti
- Supervisor
Professor Emeritus - Liechtenstein Business School
Supervisor
Employee
Jennifer Nadine Schein MSc
- PhD-Student
PhD-Student
Employee
Prof. Dr. Dirk Schiereck
- Co-Supervisor
Co-Supervisor
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