A strategically minded CFO will realize that strategic corporate risk management is about finding the right balance between risk prevention and proactive value generation. Efficient risk and performance management requires adequate assessment of risk and risk exposures on the one hand and...

In the German automobile industry the vertical integration, as an indicator of value added, is on average low. Beyond the argument of relative high labour costs for manufacturing, several specific reasons for the level of vertical integration, linked to the flexibility of business administration...

Passion – in the sense of fervent commitment to action – and compassion – understood as sensitive openness for social and ecological concerns – are not a sure formula for business success. Whether social or ecological entrepreneurs, who find themselves under pressure from market...

Economic problems such as large claims analysis in insurance and value-at-risk in finance, requireassessment of the probability P of extreme realizations Q. This paper provided a semi-parametricmethod for estimation of extreme (P, Q) combinations for data with heavy tails. We solve the...

This essay reflects upon the relationship between the current theory of financial intermediation and real-world practice. Our critical analysis of this theory leads to several building blocks of a new theory of financial intermediation. Current financial intermediation theory builds on the...

The objective of this article is to introduce readers to the emerging research stream on business ecosystems, explicating the novelty and the usefulness of ecosystem-based theorizing, and hoping to pave the way for an influential but cumulative body of knowledge. The key tenets within an...

Familienunternehmen sind ein wesentliches Rückgrat der deutschen Industrie. Wie Analysen der ISI-Erhebung Modernisierung der Produktion zeigen, setzen insbesondere inhabergeführte Familienunternehmen auf eine tragfähige Balance zwischen Flexibilität und langfristiger Stabilität und...

Passion - in the sense of fervent commitment to action - and compassion - understood as sensitive openness for social and ecological concerns - are not a sure formula for business success. Whether social or ecological entrepreneurs, who find themselves under pressure from market competition,...

The central task of contemporary strategic management is to look for sources of value and to achieve above- average firm performance. The effective implementation of a value creation strategy requires a comprehensive approach, including the creation of a systemic management structure aimed at...