nep-pay New Economics Papers
on Payment Systems and Financial Technology
Issue of 2018‒02‒19
twenty-two papers chosen by
Bernardo Bátiz-Lazo
Bangor University

  1. Some Insights into the Development of Cryptocurrencies By Andreas Hanl
  2. Mobile Phone Innovation and Technology-driven Exports in Sub-Saharan Africa By Asongu, Simplice
  3. Market Structure in Bitcoin Mining By June Ma; Joshua S. Gans; Rabee Tourky
  4. Mobile applications and access to private data: The supply side of the Android ecosystem By Kesler, Reinhold; Kummer, Michael E.; Schulte, Patrick
  5. The economic functioning of online drugs markets By Bhaskar, V.; Linacre, Robin; Machin, Stephen
  6. ICT, Conflicts in Financial Intermediation and Financial Access: Evidence of Synergy and Threshold Effects By Asongu, Simplice; Acha-Anyi, Paul
  7. Social Interaction and Technology Adoption: Experimental Evidence from Improved Cookstoves in Mali By Jacopo Bonan; Pietro Battiston; Jaimie Bleck; Philippe LeMay Boucher; Stefano Pareglio; Bassirou Sarr; Massimo Tavoni
  8. Strengthened competition in payment services By Demary, Markus; Rusche, Christian
  9. Digital Identity: the current state of affairs By Alvaro Martin; Ana Isabel Segovia
  10. Proposition d'une échelle de perception de la vie privée sur les smartphones By Eric Benedetto; Jean‐pierre Tang‐taye; Stéphane Bourliataux‐lajoinie
  11. Mesure du paradoxe « Privacy/Personalization » dans l’usage des smartphones By Jean-Pierre Tang-Taye; Eric Benedetto; Stéphane Bourliataux-Lajoinie
  12. Incentivizing Efficiency in Local Public Good Games and Applications to the Quantification of Personal Data in Networks By Michela Chessa; Patrick Loiseau
  13. Will Robots Automate Your Job Away? Full Employment, Basic Income, and Economic Democracy By Ewan McGaughey; Centre for Business Research
  14. Interpretable Perceived Topics in Online Customer Reviews for Product Satisfaction and Expectation By Aijing Xing; Nobuhiko Terui
  15. Is Productivity on Vacation? The Impact of the Digital Economy on the Value of Leisure By Benjamin Bridgman
  16. Removing geo-blocking: What are the effects on innovation for vertically differentiated goods? By Hamelmann, Lisa; Klein, Gordon J.
  17. Monetary System of Georgia in XI-XII centuries and its Effect on Economic Activity By Abuselidze, George
  18. Internationalisation of the Rupee. By Kumar, Shekhar Hari; Patnaik, Ila
  19. Crowdsourcing pour innover : proposition d’un modèle d’adoption, le cas de Raidlight By Emilie Ruiz
  20. Welchen Ordnungsrahmen braucht die Sharing Economy? By Haucap, Justus; Kehder, Christiane
  21. Founder CEOs and new venture media coverage By Howard, Michael D.; Kolb, Johannes
  22. Online-Meeting statt Dienstreise: Unternehmen könnten 8,3 Mrd. Euro sparen By Engels, Barbara

  1. By: Andreas Hanl (University of Kassel)
    Abstract: Cryptocurrencies such as Bitcoin might revolutionize the economy through enabling peer-to-peer based transactions by abolishing the need for a trusted intermediary. As for now, Bitcoin remains to be the best recognized cryptocurrency, in particular in terms of market capitalization. However, as this paper shows, there are plenty of alternatives. This paper outlines the historical roots which have led to the creation of privately emitted, cryptography based digital currencies. Additionally, this paper discusses future possible hurdles of the development of cryptocurrencies and outlines features which might infl uence the success of a cryptocurrency. Insights into the beginning of cryptocurrency development are gained by analysis of the publicly available DOACC dataset. The paper does so by providing an overview of the techniques and mechanisms used by cryptocurrencies. It shows that newly created cryptocurrencies tend to be very similar in some properties in the early stages but new features and more diversity developed in more recent years. Additionally, newly created cryptocurrencies tend more and more to create a fixed number of coins before the initial announcement in order to sell these in Initial Coin Offerings. Even when the amount of premining increases over years, it remains at lower levels on the aggregate.
    Keywords: Cryptocurrency; Bitcoin; Blockchain, Cryptography; Digital Money; E-Money
    JEL: E40 E42
    Date: 2018
  2. By: Asongu, Simplice
    Abstract: The study investigates how education, scientific output and the internet complement mobile phone penetration to affect technology commodity exports in Sub-Saharan Africa for the period 2000-2012. The empirical evidence is based on Generalised Method of Moments. The following main findings are established. First, the internet complements the mobile phone to boost technology goods exports. Second, the internet also complements the mobile phone to boost technology service exports. Third, positive marginal effects are apparent in the roles of educational quality and scientific output on technology goods exports and technology service exports respectively while negative marginal impacts are apparent in the roles of scientific output and educational quality on technology goods exports and technology service exports respectively. Practical and theoretical implications are discussed.
    Keywords: Technology exports; Knowledge Economy; Development; Africa
    JEL: L59 L98 O10 O38 O55
    Date: 2017–01
  3. By: June Ma; Joshua S. Gans; Rabee Tourky
    Abstract: We analyze the Bitcoin protocol for electronic peer-to-peer payments and the operations that support the “blockchain” that underpins it. It is shown that that protocol maps formally into a dynamic game that is an extension of standard models of R&D racing. The model provides a technical foundation for any economic analysis of ‘proof of work’ protocols. Using the model, we demonstrate that free entry is solely responsible for determining resource usage by the system for a given reward to mining. The endogenous level of computational difficulty built into the Bitcoin protocol does not mitigate this usage and serves only to determine the time taken to process transactions. Regulating market structure will mitigate resource use highlighting the importance of identifying the benefits of competition for the operation of the blockchain.
    JEL: E42 L1
    Date: 2018–01
  4. By: Kesler, Reinhold; Kummer, Michael E.; Schulte, Patrick
    Abstract: We analyze the data collection strategies of 65,000 developers in the market for mobile applications and track 300,000 applications over four years. Many apps belong to developers with multiple apps. This fact generates variation in the privacy behaviors of the same developer for our analysis. We uncover three stylized facts: First, developers "learn" to use increasingly intrusive data strategies as they become more experienced. Second, intrusive data collection is most likely in apps that target the 13+, and 16+ age category, which raises concerns for the protection of young app consumers. Third, even within developers, critical and atypical permissions predict problematic usage of private user data most successfully. Our findings inform both regulators and scientists who wish to model supply in the market for mobile apps.
    Keywords: Mobile Applications,Developers,Learning,Data Collection,Privacy
    JEL: O3 L1 D62 D85 D29
    Date: 2017
  5. By: Bhaskar, V.; Linacre, Robin; Machin, Stephen
    Abstract: The economic functioning of online drug markets using data scraped from online platforms is studied. Analysis of over 1.5 million online drugs sales shows online drugs markets tend to function without the significant moral hazard problems that, a priori, one might think would plague them. Only a small proportion of online drugs deals receive bad ratings from buyers, and online markets suffer less from problems of adulteration and low quality that are a common feature of street sales of illegal drugs. Furthermore, as with legal online markets, the market penalizes bad ratings, which subsequently lead to significant sales reductions and to market exit. The impact of the well-known seizure by law enforcement of the original Silk Road and the shutdown of Silk Road 2.0 are also studied, together with the exit scam of the market leader at the time, Evolution. There is no evidence that these exits deterred buyers or sellers from online drugs trading, as new platforms rapidly replaced those taken down, with the online market for drugs continuing to grow
    Keywords: dark web; drugs
    JEL: K42
    Date: 2017–08–01
  6. By: Asongu, Simplice; Acha-Anyi, Paul
    Abstract: In this study we investigate the role of information and communication technology (ICT) in conflicts of financial intermediation for financial access. The empirical evidence is based on contemporary (or current values) and non-contemporary (or lagged by a year) quantile regressions in 53 African countries for the period 2004-2011. The main findings are: First, the net effect of ICT in formalization for financial activity in the banking system is consistently beneficial with positive thresholds. The fact that corresponding, unconditional and conditional effects are persistently positive is evidence of synergy or complementary effects. Second, the net effect of ICT in financial informalization for financial activity in the financial system is negative with a consistent negative threshold. Hence, the positive (negative) complementarity of ICT and financial formalization (informalization) is an increasing (decreasing) function of financial activity. Policy measures on how to leverage the synergy or complementarity between ICT and financial formalization in order to enhance financial access are discussed.
    Keywords: Allocation efficiency; financial sector development; ICT
    JEL: G20 G29 L96 O40 O55
    Date: 2017–01
  7. By: Jacopo Bonan (FEEM, LdA and CMCC); Pietro Battiston (University of Milan-Bicocca, Italy); Jaimie Bleck (University of Notre Dame, USA); Philippe LeMay Boucher (Heriot Watt University, UK); Stefano Pareglio (Università Cattolica del Sacro Cuore and FEEM, Italy); Bassirou Sarr (Paris School of Economics, France); Massimo Tavoni (Politecnico di Milano and FEEM, Italy)
    Abstract: We investigate the role of social interaction in technology adoption by conducting a field experiment in urban Mali. We invite women to attend a training session, where information on a more efficient cooking stove is provided along with the opportuinity to purchase the product at market price. During that session we randomly assign participants to receive information on a peer's actual purchase of an improved cookstove. We find that women are more likely to purchase during our intervention and use the product in the following six to nine months if the information they receive is on a peer who purchased the product and whose opinion is respected. In general, we find positive direct and spillover effects on attending the session. We then investigate whether social interaction plays a role in the natural diffusion of this technology by putting forward evidence that women who participated in the session and did not buy are more likely to later adopt the product when more women living around them own it. We investigate the various mechanisms of social interaction potentially at play and provide evidence supporting imitation effects, rather than social learning or constraint interaction.
    Keywords: Technology Adoption, Social Interaction Cookstoves, Mali
    JEL: D91 O33 O13 M31
    Date: 2018–01–29
  8. By: Demary, Markus; Rusche, Christian
    Abstract: Starting on January 13, 2018, the Second Payment Services Directive (PSD2) will apply in the European Union. Among other things, the Directive's aim is to adapt regulation to the innovations in payment services and to promote the Single Market for non-cash payments. However, PSD2 will only strengthen competition between payment services under a common standard for the access to banking accounts.
    Date: 2018
  9. By: Alvaro Martin; Ana Isabel Segovia
    Abstract: In a world where the rise in the use of the Internet is increasing exponentially, the ability to prove your identity is crucial for the economic, financial and social development. Individuals and companies need identity solutions valid across different services, markets, standards and technologies.
    Keywords: Working Paper , Digital economy , Banks , Global
    JEL: O33 D18
    Date: 2018–02
  10. By: Eric Benedetto; Jean‐pierre Tang‐taye (IAE - Institut d'Administration des Entreprises - UR - Université de la Réunion); Stéphane Bourliataux‐lajoinie (Institut d'Administration des Entreprises (IAE) - Tours)
    Abstract: Perception of privacy on smartphones: a proposed scale Abstract The smartphone takes such a place that it may be seen as an extension of the memory and social life of mobile users called " mobinautes " in France with over 40 million of customers. This interconnection between data exchange and privacy leads to a complex marketing challenge where the borders are not clearly measurable. By using a symbiotic approach the paper develops a measuring scale focused on privacy and highlights the need for a multidimensional view with innovation, utility, dependence and added value as additional constructs. Through a structural model data analysis using SPSS and AMOS the findings suggest some implications in marketing strategy likely to interest network mobile phone providers and further academic research.
    Abstract: Avec plus de 40 millions de smartphones, la France dispose d'un taux d'équipement en augmentation constante et le smartphone est devenu en quelques années un compagnon de la vie courante comme une extension de la mémoire et le garant de la vie sociale du mobinaute. Le but de la recherche exploratoire entreprise ici est de développer une échelle de mesure qui prenne en compte principalement la perception de la vie privée (privacy) sur les smartphones et de la tester via un questionnaire en ligne. L'analyse de données réalisée en utilisant SPSS et AMOS via un modèle structurel sur les 371 réponses obtenues montre qu'une approche multidimensionnelle est nécessaire et met en évidence une relation symbiotique entre le mobinaute et son smartphone maillant les concepts de dépendance, utilité, d'innovation et de valeur ajoutée. Des retombées marketing ainsi que des perspectives de recherche académique plus approfondies sont aussi proposées.
    Keywords: smartphone,privacy,added value,perceived usefulness,confide ntiality,MMI,structural equation,valeur ajoutée,utilité perçue,confidentialité,IHM,équation structurelle
    Date: 2016–01–21
  11. By: Jean-Pierre Tang-Taye (IAE La Réunion - Institut d'Administration des Entreprises - La Réunion - UR - Université de la Réunion); Eric Benedetto; Stéphane Bourliataux-Lajoinie (Institut d'Administration des Entreprises (IAE) - Tours)
    Abstract: This paper is a proposition for the measurement of the « privacy/personalization » paradox in Smartphones usage. By using a structural equation model and Amos, personalization is seen as a latent variable opposing in one hand privacy, dependence and trust (positively), on the other hand, security (negatively). The findings open a door to a better understanding of smarthpones users and theirs behaviors by confronting their increasing addiction to technology and their concerns, if any, on privacy.
    Abstract: L'émergence de nouveaux comportements chez les utilisateurs de Smartphone ou mobinautes est perceptible depuis 2007 avec la croissance régulière du taux d'équipement. Dans ce monde hyper connecté, la frontière entre la vie privée et numérique est de plus en plus ténue et la notion de « privacy » a pris de plus en plus d'importance en étant abordée en recherche de gestion sous différents angles, en particulier Systèmes d'Information (SI) et Digital Marketing (DM). Des auteurs (Sheng et al., 2008 ; Sutanto et al., 2013 ; Miltgen et Lemoine, 2015) ont mis en lumière une ambivalence des utilisateurs entre respect des données personnelles et envie d'échange et de partage d'informations en proposant le concept de « privacy/personalization paradox ». A partir d'un modèle d'équation structurelle, la présente recherche tend à enrichir ce concept mesuré jusqu'à présent à partir de construits isolés et faire émerger ici la notion de personnalisation sous la forme d'un construit latent avec d'un côté, et dans l'ordre, dépendance, privacy et confiance, et de l'autre, sécurité.
    Keywords: personalization,structural equation,Amos,smartphone,privacy,personnalisation
    Date: 2016–05–18
  12. By: Michela Chessa (Université Côte d'Azur, France; GREDEG CNRS); Patrick Loiseau (Univ. Grenoble Alpes, CNRS, Inria, Grenoble INP, LIG; Max Planck Institute for Software Systems (MPI-SWS))
    Abstract: A well established principle arms that the privacy of individuals is respected whenever they are entitled to control the dissemination of their personal data and they are fairly compensated. From this perspective, quantifying the value of personal data is a crucial task in the Internet economics. This task is dicult, however, as the privacy attitude of the users is often characterized by a contradictory behavior, known as the privacy paradox, in which they declare to be sensitive to privacy losses but also often release large amounts of data to enjoy free services. In this paper, we model this trade-off as a local public good game and propose some quantifications of the users' personal data depending on their position in the social network, based on enhancing an efficient solution of the local public good model. In a first part, we present some non-cooperative approaches, based on an internalization of the local externalities. In a second part, we extend the model to a cooperative game and we apply some well-known solutions from cooperative game theory to suggest fair ways to compensate the users and to perform a network analysis.
    Keywords: Personal Data, Social Network, Local Public Good Game, Cooperative Game Theory, Core, Shapley value
    JEL: C71 C72 D62 D85 H41
    Date: 2018–02
  13. By: Ewan McGaughey; Centre for Business Research
    Abstract: Will the internet, robotics and artificial intelligence mean a 'jobless future'? A recent narrative says tomorrow's technology will fundamentally differ from cotton mills, steam engines, or washing machines. Automation will be less like post-WW2 demobilisation for soldiers, and more like the car for horses. Driverless vehicles will oust truckers and taxi drivers. Hyper-intelligent clouds will oust financial advisers, doctors, and journalists. We face more 'natural' or 'technological' unemployment than ever. Government, it is said, must enact a basic income, because so many jobs will vanish. Also, maybe robots should become 'electronic persons', the subjects of rights and duties, so they can be taxed. This narrative is endorsed by prominent tech-billionaires, but it is flawed. Everything depends on social policy. Instead of mass unemployment and a basic income, the law can achieve full employment and fair incomes. This article explains three views of the causes of unemployment: as 'natural', as stemming from irrationality or technology, or as caused by laws that let people restrict the supply of capital to the job market. Only the third view has any credible evidence to support it. After WW2, 42% of UK jobs were redundant (actually, not hypothetically) but social policy maintained full employment, and it can be done again. Unemployment is driven by inequality of wealth and of votes in the economy. Democratic governments should reprogramme the law: for full employment and universal fair incomes. The owners of the robots will not automate your job away, if we defend economic democracy.
    Keywords: Robots, automation, inequality, democracy, unemployment, basic income, NAIRU, sheep, Luddites, washing machines, flying skateboards
    JEL: E62 E6 E52 E51 E50 E32 E12 E00 E02 D6 J01 K1 J20 K31 J23 J32 K22 J41 J51 J58 J6
    Date: 2018–03
  14. By: Aijing Xing; Nobuhiko Terui
    Abstract: Online customer reviews contain useful and important information, in particular, for product management--because customers tend to praise or criticize certain features or attributes of goods in their reviews. We propose a model that extracts the perceived topics from textual reviews by natural language processing under the restrictions of their interpretability and predictability of product satisfaction as current product evaluation and expectation as future possible demand by supervised learning. The empirical analysis on user-generated content of food reviews shows that our proposed model performs better than alternative models, and it suggests product managers the necessity of improving some specific attributes and focus their advertising on these attributes as fulfilling customer needs.
    Date: 2018–02
  15. By: Benjamin Bridgman (Bureau of Economic Analysis)
    Date: 2018–02
  16. By: Hamelmann, Lisa; Klein, Gordon J.
    Abstract: At present, there is a wide debate on regulating geo-blocking, an online practice that prevents consumers from buying or having access to products and services from another country. This practice is not only used by retailers, but is also of great importance in the market for digital visual broadcasting. We develop a model to identify the cases, in which firms have an incentive to include geo-blocking clauses in their licensing agreements. In addition, we analyze the effects of restricting geo-blocking on the level of innovation of two vertically differentiated goods and on the overall product variety. Our results show that the market outcome primarily depends on the level of competition between the two goods. For instance, regulatory changes do not have any impact if competition is very low or very high. However, if competition is sufficiently high, the removal of geo-blocking decreases the level of innovation of the good that is traded. The product quality of the other firm, instead, increases - as long as R&D costs are sufficiently high. Putting both effects together, it becomes evident that the quality gains do not compensate for the quality losses. In addition, the removal of geo-blocking affects the product variety as well - a lower level of competition increases the product variety and vice versa.
    Keywords: Digital Markets,Geo-blocking,Vertical Restraints,Regulation,Investment,Quality
    JEL: L42 L51 L52 K21
    Date: 2017
  17. By: Abuselidze, George
    Abstract: This works covers peculiarities of formation of Georgian monetary system in XI-XII centuries and their effect on the international financial and economic relations. In this works we have researched the matters of formation of monetary policy of feudal age and their effect on development of foreign trade, methods of money formation important for the present world, which correct choice may provide increase of production volume and economic activity. Currency policy, geopolitical and geostrategic localization proved the country to turn into one of the economically strong economic states with high standard of life, developed system of socioeconomic relations approached to the international standards and democratic institutions.
    Keywords: History of Economy,Economic Development,Monetary Policy,Monetary System,Monetary History,Economic Activity,Europe: Pre-1913,Asia including Middle East
    JEL: E42 E52 N13 N15 O1
    Date: 2018
  18. By: Kumar, Shekhar Hari (National Institute of Public Finance and Policy); Patnaik, Ila (National Institute of Public Finance and Policy)
    Abstract: The Indian Rupee currently accounts for approximately 1% of global foreign exchange turnover. It has a smaller market size across most trading instruments when compared to the top 8 emerging market currencies. In this paper, we evaluate the current status of the Indian Rupee as an international currency using the Chinn and Frankel (2008) framework, and explore the possibility of future Indian Rupee internationalisation. We find that the Indian Rupee has a negligible role as an official sector currency. It has some use as a reserve currency in its economic sphere of influence, but no role as an anchor or intervention currency. Private actor adoption of the Indian Rupee is much larger and more diverse than the official sector. However, this role is mostly restricted to financial flows and portfolio investment. In terms of trade invoicing and settlements in the private sector, the Indian Rupee plays a limited role due to concerns of convertibility and risk management. Given the current path of exchange control and capital account liberalisation, we anticipate gradual internationalisation of the Indian Rupee due to regional competition from the Renminbi.
    Date: 2018–02
  19. By: Emilie Ruiz (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc)
    Abstract: Le crowdsourcing (CS) pour innover consiste à externaliser une tâche complexe ou créative à un vaste ensemble d'individus via un appel ouvert sur Internet. Plusieurs recherches ont souligné des avantages et des difficultés à l'adoption du CS pour innover sans pour autant tenir compte des différentes phases d'adoption, alors que certains facteurs peuvent apparaître ou évoluer en cours de processus. A travers l'étude longitudinale et approfondie de la démarche d'adoption de l'entreprise Raidlight, PME rhônalpine spécialisée dans la conception, le développement et la vente de matériel sportif, nous identifions trois grandes catégories de facteurs (culturelle, organisationnelle et liée aux connaissances) que nous mettons en relation avec les différentes phases du processus d'adoption du CS pour innover et proposons un modèle. Dans le cas de Raidlight, il s'avère que l'identité et la culture ouverte de l'entreprise l'ont tout particulièrement décidé à adopter ce type d'activité. La création et le pilotage d'une communauté, le Team, et l'intégration du dispositif à son business model lui ont ensuite permis de traverser la phase de développement. Enfin, il apparait que la maturité du dispositif, bien qu'influencée par les facteurs précédemment identifiés, est marquée par la capacité de l'entreprise à absorber les connaissances des membres du Team. Nos résultats soulignent que les facteurs à l'adoption sont interdépendants et suivent une logique cumulative. Mots-clés : crowdsourcing pour innover, facteurs d'influence, modèle d'adoption.
    Date: 2016
  20. By: Haucap, Justus; Kehder, Christiane
    Abstract: Das private Teilen von Ressourcen durch die Möglichkeiten der sog. Sharing Economy ist ökonomisch prinzipiell sehr sinnvoll. Durch eine auch von den betroffenen Branchen betriebene Lobbyarbeit unterstützte Politik wird das private Teilen in Deutschland jedoch erheblich erschwert, obgleich prinzipielle erhebliche Verbraucher- und Effizienzvorteile generiert werden können. Wir plädieren in diesem Beitrag für einen offeneren Regulierungsrahmen, der folgende Charakteristika aufweisen sollte: (1) Erstens erscheint die Verwendung von Schwellenwerten sinnvoll, um gewerbliche und private Anbieter zu unterscheiden. Solange bestimmte Grenzen der Tätigkeit nicht erreicht werden, sollte eine Tätigkeit als privat gelten, während bei Erreichen der Schwellenwerte Anbieter als gewerblich eingestuft werden, solange sie nicht das Gegenteil darlegen können. Für private Anbieter sollten weniger strikte Anforderungen gelten als für gewerbliche Anbieter. (2) Zweitens sollten Plattformen transparent machen, ob ein von ihnen vermittelte Anbieter privat oder gewerblich agiert, so wie etwa bei eBay zwischen privaten und gewerblichen Verkäufen unterschieden wird, sodass Nutzer ihre entsprechenden Rechte ex ante erkennen können. (3) Drittens sollten der bisherige Regelungsrahmen für die betroffenen Branchen - wie etwa das Personenbeförderungsgesetz für das Taxi- und Mietwagengewerbe - regelmäßig, evidenzbasiert evaluiert und novelliert werden, um Deregulierungspotenziale zu erkennen. (4) Viertens ist eine Anzeigepflicht auch für private Personen zumindest ab einer gewissen Regelmäßigkeit der privaten Bereitstellung von Ressourcen (wie etwa der eigenen Wohnung) denkbar, um Behörden die Überprüfung und Rechtsdurchsetzung zu erleichtern. (5) Fünftens könnten die Plattformen mit Informationsübermittlungspflichten etwa an die Finanzbehörden belegt werden, um Steuerhinterziehung zu erschweren. Ein solcher Rechtsrahmen ermöglicht das private Teilen von Ressourcen in begrenztem Umfang und kann zugleich den gravierendsten Bedenken der Kritiker, wie etwa der sog. Zweckentfremdung von Wohnraum, wirkungsvoll entgegenwirken.
    Keywords: Sharing Economy,AirBnB,Uber,Ride Sharing,Digitalisierung,Zweckentfremdung
    Date: 2018
  21. By: Howard, Michael D.; Kolb, Johannes
    Abstract: Among their early key decisions, new ventures must choose whether to retain founder CEOs and how to craft a media strategy to best represent themselves to the outside world. These decisions have critical implications for firm survival and success, shaping perceptions of important external stakeholders. Our study explores the interplay between founder CEOs and media coverage and their effect on firm performance. We employ competing risk models to analyze data on 2,327 US VC-backed technology firms during the period 1985 to 2009, finding that founder CEOs enhance volume and positive tonality of media coverage, which increase the likelihood of firm IPO. Our findings provide important contributions for research into entrepreneurship and organizational reputation.
    Keywords: entrepreneurship,founder characteristics,media analysis,new venture success,competing risk models
    Date: 2018
  22. By: Engels, Barbara
    Abstract: Digitale Technologien wie Videokonferenzen helfen, Distanzen zu überbrücken und schneller zu kommunizieren. Würden mehr Unternehmen diese einsetzen, um Dienstreisen zu ersetzen, könnte die deutsche Wirtschaft 8,3 Milliarden Euro im Jahr einsparen - zumindest in der Theorie.
    Date: 2018

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