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Current developments in corporate, foundation and trust governance

Project Description

Corporate Governance is described as the legal and factual regulatory framework for the management and monitoring of companies. Although a common definition has been established, the general understanding of the term is subject to constant change. Social currents shape the corporate governance discussion and lead to changes in the classic shareholder and stakeholder approach. Currently, corporate social responsibility (CSR) has been gaining importance within the concept of good corporate governance, which is why social needs as well as environmental and sustainability aspects are moving into the spotlight apart from pure profit maximization. Furthermore, the evolving digitalization does not cease at corporate governance but rather raises new questions regarding liabilities, competencies and responsibilities. It should also be noted that the concept of corporate governance - as the regulatory framework of companies - was the predecessor of foundation- and trust governance. Thus, it seems reasonable to further carry out such investigations in these legal entities.
Therefore, the research project will investigate how effective governance influences the integration of sustainability matters in companies, foundations and trusts and the factors that play a significant role in the implementation. Furthermore, it is crucial to examine the extent to which a social or environmental foundation or trust purpose restricts the foundation board or trustee in its management functions. On top of this, the concept of "responsible ownership" in corporate law is closely related to the issue of sustainability, which is why the prospective implementation is analyzed with the help of national corporate forms available in Liechtenstein, such as the foundation and the trust. Finally, the resulting areas of dispute are investigated in the context of governance.

Relevance to Liechtenstein

The local relevance of the legal issues addressed in the research project is to be assessed as great for both science and practice. The Principality of Liechtenstein is an internationally important location for foundations, trusts and companies. The corporate landscape is broadly diversified, with small family-owned businesses to large corporations having their headquarters in Liechtenstein. The international importance of Liechtenstein as a business location is based on functioning corporate governance, which ensures transparent and efficient management and control of companies, foundations and trusts. Furthermore, effective cooperation between the persons, authorities and companies involved in the governance process is essential. Against this background, it is essential to pick up on current and new trends and to examine them scientifically in order to maintain the trust of the general public in companies, foundations and trusts in Liechtenstein.

Scientific, Economic and Societal Impact

The research project has a broad practical scope by developing solutions for the integration of new governance aspects in companies, foundations and trusts. The research questions addressed on current developments in governance, such as in the context of environmental and sustainability aspects or new forms of corporate governance, are of great relevance to practice.
With the insights gained, governance in companies, foundations and trusts is strengthened to maintain transparency, accountability and effectiveness in organizations and among governing bodies. The trust in companies, foundations and trusts in Liechtenstein is thereby maintained and the legal requirements can be effectively implemented even in the context of new developments.

Keywords

trust Sustainability Corporate Foundation Governance

Publications

Current developments in the relationship with the Liechtenstein foundation to their foundation participants

Project Description

Central elements of the total revision of Liechtenstein Foundation Law in 2009 were multidimensional foundation governance, the strengthening of the founder's responsibility and the elimination of legal uncertainties and conflicting case law. Due to current developments in the environment of the foundation and recent case law, the special features of Liechtenstein foundation law arise again areas of tension in the interaction of the right and obligations of the parties involved. This research project takes these up and analyses the resulting central questions in science and practice. The main focus of the research project is liability of executive bodies and the legal consequences of defective resolutions. Likewise, also areas of tension between the perpetuation of the foundation's purpose and the rights of amendment and revocation possible under Liechtenstein foundation law are examined. In addition, the research project deals with fundamental questions around responsibility ownership in the light of the perpetuation of the foundation's purpose and any conflicting interests of the parties involved.

Relevance to Liechtenstein

Das Forschungsprojekt widmet sich aktuellen Fragen im Umfeld der liechtensteinischen Stiftung zu ihren Stiftungsbeteiligten. Im Wettbewerb der Rechtsordnungen muss auch das liechtensteinische Stiftungsrecht auf jüngste Entwicklungen reagieren, um Rechtssicherheit und Kontinuität gewährleisten zu können. Darüber hinaus wird das sogenannte Verantwortungseigentum, das in den Nachbarländern Liechtensteins immer mehr an Bedeutung im Rahmen der Unternehmensnachfolge gewinnt, im Kontext der liechtensteinischen Stiftung untersucht.

Scientific, Economic and Societal Impact

Das Verhältnis der Stiftungsbeteiligten untereinander sowie zur Stiftung befindet sich im Wandel. Es ist daher sowohl für Wissenschaft als auch Praxis unerlässlich, dass Erkenntnisse im Bereich der Forschungsziele des Projektes gewonnen werden. Das Forschungsprojekt greift daher aktuelle Spannungsfelder und Konfliktpotenziale im Verhältnis der Stiftung zu den Stiftungsbeteiligten auf. Weitere Schwerpunkte des Forschungsprojektes sind die Pfändbarkeit von Widerrufsrechten, die zweckwidrige Verwendung des Stiftungsvermögens und die Umsetzung des Verantwortungseigentums im liechtensteinischen Recht.

Keywords

Foundation Law

Publications

AI-bility: Cultivating AI Awareness in Schoolchildren (ERASMUS+)

Project Description

Finanzierung ERASMUS+

Project Participants

Employee
Dr. Leona Chandra Kruse
- Project Manager
Project Manager

AI-bility: Cultivating AI Awareness in Schoolchildren

Project Description

We observed the abundance of smart toys, adaptive learning applications, and digital assistants for school-children on the market. These products are artificial intelligence (AI) based conversational agents that can communicate using natural language. The COVID19 pandemic probably played an important role in promoting their adoption. The truth is, however inconvenient, that we still do not know much about how schoolchildren harness these AI-based conversational agents for their benefits. Because of the way they are designed (i.e., real touchable physique versus digital character), schoolchildren may have different kinds of interaction and experience with them. Moreover, they may be perceived differently because of their communication modali-ties (i.e., text, voice, or gestures). This project addressed a discussion that is likely to become more glaring in the next years, due to the increasing adoption of in AI-based conversational agents and generative AI (e.g., ChatGPT) for learning and leisure activities. We would like to highlight four main results of our project:
1: We synthesized a typology of conversational agents for schoolchildren and published the typology in a premier Information Systems journal.
2: We gained insights into children's perception and use of conversational agents for learning and leisure.
3: We conducted a scientific experiment to understand whether and how children can benefit from different types of conversational agents in learning (knowledge acquisition and retention). 4: We disseminated the knowledge gained throughout the project on our project blog (https://ai-bility.eu/blog).
5: We wrote and published stories for children to share the knowledge with families in a fun and engaged way (see https://ai-bility.eu/stories).

Project Participants

Employee
Dr. Leona Chandra Kruse
- Project Manager
Project Manager

Agrosolar - Creation of ecological compensation areas with use of energy

Project Description

Purpose is the development of urban and landscape integrated solutions for the use of agricultural areas and other infrastructural areas for the production of photovoltaic electricity.

Relevance to Liechtenstein

Gegenstand ist die Entwicklung städtebaulicher und landschaftsintegrierter Lösungen für die Nutzung von landwirtschaftlichen Flächen zur Erzeugung photovoltaischen Stroms.

Participating Institutions

Institute of Architecture and Planning / Partner
Delinat Institut für Ökologie u. Klimafarming / Partner

Project Participants

Employee
Prof. em. DI MAAS Peter Droege
- Professor
Professor

Affective Signalling in the Digital Workplace

Project Description

Digitalization affected our globalized world for quite some time, posing increasingly wide-ranging affordances to individuals and organizations alike. Yet, the COVID-19 pandemic disrupted this regulated process by necessitating a sudden switch to remote work that confronted leaders and followers with the demand to rapidly adapt to this unfamiliar digital work environment. With in-office meetings and face-to-face interactions being out of the question, the global workforce needed to get accustomed to alternative digital ways of communication. The most prevalent dig-ital mediums (i.e., e-mail and messenger services), however, are less broad in information, omit nonverbal behaviours, such as gestures and facial expressions, and, especially e-mail communi-cation, is expected to be of a more sober and factual tonality. This constitutes a substantial chal-lenge for leaders, as the transferal of emotions, mostly being driven by a message’s nonverbal delivery, constitutes one of the key pathways for leaders’ effectiveness. Therefore, this project aims to firstly, explore the characteristics that steer leaders to utilize affective signals despite or even because of this digital context. Secondly, receivers’ emotional, cognitive, and behavioural reactions to affective leader signals in digital written communication will be experimentally as-sessed. Thereby, this project will fully investigate the affective signalling process in the digital workplace environment and will thus provide valuable insights into the ramifications leaders are advised or ill-advised to employ emotional communication techniques in. Furthermore, its find-ings will allow for inferences on how followers will react to specific verbal and quasi-nonverbal emotional displays in the digital workplace and thus provide leaders with recommendations on how adapt their affective signalling to ensure it will elicit the intended consequences.

Keywords: Digital Leadership, Emotional Communication, Affective Signalling, Charismatic Communication

Relevance to Liechtenstein

Da die COVID-19-Krise die rasche Digitalisierung plötzlich zu einer unvermeidlichen Herausforderung für einen Großteil der Gesellschaft gemacht hat und die Art und Weise, wie wir arbeiten, nachhaltig beeinflussen wird, ist ein besseres Verständnis der Besonderheiten und einzigartigen Möglichkeiten der digitalen schriftlichen Kommunikation nicht nur für Führungskräfte von unmittelbarem praktischem Wert, sondern auch für alle, die direkt oder indirekt von Remote-Arbeit betroffen sind. Dies gilt insbesondere für die hochinnovativen Unternehmen im Rheintal, die oft enge Beziehungen zu international tätigen Abteilungen, Kunden und Lieferanten unterhalten müssen. Wenn Führungskräfte in der Lage sind, ihre Kompetenz und Vertrauenswürdigkeit durch ihre alltägliche Kommunikation zu signalisieren, wird es ihnen leichter fallen, ihr Unternehmen intern und extern zu repräsentieren und ein effizientes, loyales und robustes internationales Netzwerk aufzubauen. Um sicherzustellen, dass die Erkenntnisse aus diesem Projekt in der Praxis Anwendung finden, können sie in die Führungskräfteentwicklung der Universität Liechtenstein einfliessen und damit unmittelbar an Führungskräfte in der Region vermittelt werden. Insgesamt stellt dieses Projekt eine direkte Verbindung zu mehreren Kernstrategien der Universität Liechtenstein und des Landes her, indem es sich mit den Herausforderungen der Digitalisierung auseinandersetzt, Führungskräften hilft, innovative Kommunikationstechnologien zu ihrem Vorteil zu nutzen, und Wege aufzeigt, wie die Herausforderungen der aktuellen globalen Pandemie in Chancen umgewandelt werden können, die einen langfristigen Wert für die Gesellschaft darstellen.

Scientific, Economic and Societal Impact

Die Ergebnisse dieses Projekts sollen zeigen, welche Eigenschaften dazu führen, dass Führungskräfte emotional kommunizieren, obwohl oder gerade weil sie den Großteil ihrer Kommunikation auf ein digitales Umfeld umstellen mussten. Damit wird die Validität emotionaler Hinweise als Signal für bestimmte Führungseigenschaften bewertet und damit die Signalfunktion solcher Verhaltensweisen exploriert.
Daher kann dieses Projekt Führungskräften Handlungsempfehlungen geben, wie sie die physische Distanz an modernen Arbeitsplätzen durch eine Sprache überwinden können, die psychologische Nähe schafft. Die Ergebnisse werden deutlich machen, was zu tun und was zu vermeiden ist, wenn man mit Mitarbeitenden per E-Mail oder Chat kommuniziert, um ihre Motivation zu steigern und einen positiven Eindruck von sich selbst als Führungskraft zu vermitteln. Sie werden es Führungskräften darüber hinaus ermöglichen, abzuschätzen, wie ihre Mitarbeitenden auf bestimmte verbale und quasi-nonverbale emotionale Äußerungen am digitalen Arbeitsplatz reagieren werden, und somit, je nach Kommunikationskontext, ihre affektiven Signale anzupassen, um sicherzustellen, dass sie wie beabsichtigt verarbeitet werden. Die Fähigkeit, über digitale Medien so zu kommunizieren, dass die Anerkennung der Führungskraft, die Zuschreibung von Charisma und die Motivation der Mitarbeitenden gesteigert wird, ist für alle Führungskräfte von großem Nutzen und insbesondere für digitale Führungskräfte und Entrepreneure unverzichtbar, da letzteren häufig der Zugang zu alternativen Ressourcen zur Steigerung der Mitarbeiterleistung in der Anfangsphase ihrer Unternehmensentwicklung fehlt.

Affect and Leadership: Exploring the emotional antecedents of leader behavior and the subsequent emotions and behavior of followers

Project Description

Emotions are deeply entangled within the leadership process. The deeper we understand these processes the more we can understand, predict and change behavior for the good of all involved individuals in the organization and in turn for the organization itself. Since emotions are primary drivers of motivation, cognition, and behavior (Keltner & Haidt, 1999), leaders' affect should have a clear influence on the way leaders act, especially in the interaction with followers.
However, scholars have rarely addressed this in particular. Hence, the aim of the project is to find out why leaders do (or do not) display certain leadership behavior based on their affective experiences and how this leader behavior influences followers' affective experience, which in turn determines their behavior, which is recognized by leaders and as a result influences leaders emotional experience (a cycling process). In a first attempt, we will study the relation between leaders' affective experiences in the workplace and the leadership in a team context (multisource cross-sectional design). We will further test our purposed (cyclic) model with a serious of experiments. Experimental methods have been claimed to offer the "most stringent tests of moods and emotions" (Gooty et al., 2010, p. 998) and allow for causal claims. In addition, with an attempt to capture the emotion regulation process within individuals (i.e., intra-individual differences) we will conduct an experience sampling study. The outcomes of this project can be used as a basis for future projects regarding the exploration of this complex and dynamic nature of the relationship between leaders' and followers' emotional experience and behavior. Leaders receive insights on how their emotions affect their behavior, their workplace and the organization itself.

keywords: leadership; affect; behavior; emotion regulation

Relevance to Liechtenstein

Die Forschungsergebnisse fließen in die Ausbildung der Studierenden der Universität Liechtenstein, sowie in die Ausbildung der in der Region praktisch tätigen (bspw. MBA Studierende) ein. Durch die Vermittlung und Anwendung des Wissens, wie affektives Erleben auf das Führungsverhalten und das Verhalten wiederum auf affektives Erleben wirkt, lernen Führungskräfte ihr eigenes Handeln noch effektiver zu gestalten, wodurch auch die Organisation als Ganzes profitiert.

Scientific, Economic and Societal Impact

Emotionen sind überall, und der Kontext zwischen Führungskraft und Gefolgschaft bildet da keine Ausnahme. Emotionen sind mächtig, wenn es darum geht, Kognition und Verhalten zu beeinflussen. Führungskräfte können von Erkenntnissen über ihr eigenes Führungsverhalten profitieren. Führungskräfte erhalten Erkenntnisse darüber, wie sich ihre Emotionen auf ihr Verhalten, ihren Arbeitsplatz und die Organisation selbst auswirken. Führungskräfte können von dem Wissen profitieren, wie sie ihre Emotionen als Vorteil für ihre Führungsrolle nutzen können. Die Ergebnisse dieses Projekts und das gewonnene Wissen können in Leadership-Entwicklungsprogrammen genutzt werden, zum Beispiel in der Aus- und Weiterbildung (z.B. an der Universität Liechtenstein; MBA und zukünftige Zertifikatsprogramme).

Advancing the value of humanities

Project Description

The skills that build on the knowledge and professional body of humanities, cultural and social sciences (the "humanities") are required. Science, industry and society need university graduates with aptitude for critical thinking, questioning, holistic approaches, contextual situations, constructive dealing with (inter-)cultural settings, creative and interdisciplinary actions. Only in this manner can current challenges be explored, understood, tackled in a future-oriented an sustainable way. The Humanities are considered to be the most important promoter and guarantor of these socially and economically very relevant skills.
Highly specialized professionals need such basic skills for a successful entry into working environments. This illustrates the urgent demand of the economy and its search for talent. What is needed is a strengthening and imparting of these skills, moreover, as a result of the increasing entanglement of the economy and science, of society as a whole, and, as a consequence, of educational policy transformation. These demands are joined by a need for action formulated by political actors. Because people with skills in constructive-critical thinking, reflection, creative and interdisciplinary collaborations are important in sustaining and developing the framework, values and heritage of enlightened, open European societies and socially inclusive cultures.
This is followed by the strategic partnership "Advancing the Value of Humanities - in Academia, Society and lndustry".
From the perspective of cultural sciences and selected teaching formats with an interdisciplinary interface to architecture at three universities, this partnership examines the teaching, tangibility and qualities of the skills outlined and strengthens their relevance for education, society and the economy. The strategic partnership between the University of Liechtenstein, the University of Graz and the HafenCity University of Hamburg takes up ongoing, singular aspirations and profiles of those involved. lt brings them together in a complementary way through peer-learning research, cooperation and exchange and enables synergies for innovative and sustainable output in the transnational network of the European area.
These teaching formats, which have been conceived, organized and documented by the partner universities on the topics of "space" and "culture", are designed as an empirical research training facility. They relate to theoretical and methodological foundations of ethnography and cultural analysis. The setting contributes in an individual and complementary way to a concrete spatial-cultural debate, because all formats are located outside the universities, at the "port" of the city of Hamburg, in the "quarter" of the medium­sized city of Graz and in the "border area" of rural Liechtenstein.

Relevance to Liechtenstein

Die Fallstudie des Liechtensteiner Lehrformates ist vor Ort angesiedelt. Die Rolle der "Humanities" in Academia, Gesellschaft und Wirtschaft wird zum einen an der Universität Liechtenstein einfliessen, diese ist wiederum konkret mit dem liechtensteinischen Kontext verflochten. An der Abschlusskonferenz werden lokale Stakeholder zur Diskussion eingeladen.

Project Participants

Employee
Anna Ospelt MA
- Project Collaborator
Project Collaborator
Dr. sc. Anna-Lydia Capaul
- Project Collaborator
Project Collaborator
Employee
Dr. Roman Banzer
- Principal Investigator
Principal Investigator
Employee
Dr. Monika Litscher
- Project Manager
Project Manager
Employee
Dr. sc. Celina Martinez-Cañavate
- Project Collaborator
Project Collaborator

Advancing Process Science - Leveraging Multiple Sources of Data in Business Process Management

Project Description

In my dissertation project, I will contribute to the emerging research field of process science, i.e., how to leverage multiple sources of data in business process management (BPM). Particularly, I will investigate the role of spatial data for the innovative design of socio-technical systems, which has received very little attention in the information systems field. Physical space and the possible utilization of space in all its facets continuously influence processes, human interactions, and innovations in organizations. In this context, the use of the design-oriented research paradigm is intended to help explain existing phenomena and develop innovative artifacts to address relevant problems in organizations. To this end, I conduct research on process mining in the field of BPM and space mining. I am currently examining how process mining can be leveraged in organizations - process mining is advancing as an essential part of modern management in order to cope with the ever-increasing dynamics in contemporary organizational work. In analogy to the technology of process mining, space mining refers to collecting, mining, and visualizing space-relevant data to analyze the current situation in a room, e.g., to prevent the airborne transmission of SARS-CoV-2.

Analyzing, Explaining, and Managing Process Dynamics in Organizations: Insights from Computationally-intensive Research with Sequential Event Log Data

Project Description

Digital trace data research is becoming more and more ubiquitous in information systems (IS) research and offers prodigious opportunities to study temporal dynamics, processes, and change underlying various socio-technical phenomena. Prior research leveraged the large quantity, fine-granular nature, and temporal features of digital trace data to study several process-related phenomena such as organizational change or routines. Yet, research still lacks a deep understanding of how process dynamics and change can be explained, influenced, and shaped over time by relying on digital trace data. Hence, this research project uses digital trace data, along with adequate computational methods to analyze it, to study how processes take shape, unfold, and evolve over time. For this purpose, the research project draws on digital trace data sets (i.e., event log data from various processes) from financial institutions in Liechtenstein. From a methodological perspective, systematic literature reviews, qualitative approaches (e.g., interviews or observations), and computational methods (e.g., process mining) are employed. Current studies particularly highlight the role of complexity and IS design interventions for process and routine dynamics. All in all, this research project aims to contribute to process research with digital trace data and to provide valuable implications for practice that can lead to process improvements.

Project Participants

Employee
Dr. rer. oec. Sandro Franzoi
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
icon
Employee
Prof. Dr. Nicholas Berente
- Co-Supervisor
Co-Supervisor
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