Publications des institutions partenaires
Constructing preference from experience: the endowment effect reflected in external information search
People often attach a higher value to an object when they own it (i.e., as seller) compared with when they do not own it (i.e., as buyer)—a phenomenon known as the endowment effect. According to recent cognitive process accounts of the endowment effect, the effect is due to differences between sellers and buyers in information search. Whereas previous investigations have focused on…
Institution partenaire
English / 01/01/2012
CSO's Role in Times of Uncertainty : Report of the CSO Survey 2012
A new study by the IfB-HSG and Roland Berger Strategy Consultants reveals how chief strategy officers deal with the current uncertainty. A leaner strategy process, long-term strategic planning, and cross-functional collaboration are particularly important.
Institution partenaire
English / 01/01/2012
European Consulting Survey 2012 : The Future of European Management Consulting Firms' Business Models
This study report provides European management consulting firms' assessment of trends and currently prevailing business models in the industry. It depicts the different threats and opportunities that consulting firms with different business models, consulting foci, sizes, leverage ratios, international orientations, and geographical footprints face; it also reveals these firms…
Institution partenaire
English / 01/01/2012
Fractional cointegration analysis of securitized real estate
Institution partenaire
English / 01/01/2012
Incomplete information, idiosyncratic volatility and stock returns
Institution partenaire
English / 01/01/2011
Expectations of clumpy resources influence predictions of sequential events
When predicting the next outcome in a sequence of events, people often appear to expect streaky patterns, such as that sport players can develop a “hot hand,” even if the sequence is actually random. This expectation, referred to as positive recency, can be adaptive in environments characterized by resources that are clustered across space or time (e.g., expecting to find multiple…
Institution partenaire
English / 01/01/2011
Older but not wiser—Predicting a partner's preferences gets worse with age
To test the influence of relationship length on ability to predict a partner's preferences, 58 younger (M = 24.1 years) and 20 older (M = 68.7 years) couples made predictions in three domains that varied in daily importance. While prediction accuracy was generally better than chance, longer relationship length correlated with lower prediction accuracy and greater overconfidence…
Institution partenaire
English / 01/01/2011
The Role of Chief Strategy Officers 2011
This study report summarizes the results of the first systematic survey of chief strategy officers (CSOs) in Austria, Germany, and Switzerland, a research project jointly conducted by the University of St. Gallen and Roland Berger Strategy Consultants. The study aims at deepening our understanding of the CSO's roles, background, working relationships, strategic decision-making,…
Institution partenaire
English / 01/01/2011
The WACC Fallacy: The Real Effects of Using a Unique Discount Rate
We provide evidence that firms fail to properly adjust for risk in their valuation of investment projects, and that this behavior leads to value-destroying investment decisions. If managers tend to use a single discount rate within firms, we expect conglomerates to underinvest in relatively safe divisions, and to overinvest in risky ones. We measure division relative risk as the…
Institution partenaire
English / 01/01/2011
Specialized organizations and ambidextrous clusters in the open innovation paradigm
By comparing Lucent Technologies and Cisco Systems over twenty years, one illustrates that a firm that outsources exploration through an Acquisition and Development (A&D) strategy of start-ups and exploitation specialization can be more innovative and competitive than an ambidextrous organization. The success of an A&D strategy depends on the embeddedness of the firm in the…
Institution partenaire
English / 01/01/2011
Time-varying risk premium in large cross-sectional equity datasets
Institution partenaire
English / 01/01/2010
Dining in the dark: the importance of visual cues for food consumption and satiety
How important are visual cues for determining satiation? To find out, 64 participants were served lunch in a “dark” restaurant where they ate in complete darkness. Half the participants unknowingly received considerably larger “super-size” portions which subsequently led them to eat 36% more food. Despite this difference, participants’ appetite for dessert and their subjective…
Institution partenaire
English / 01/01/2010
Can there ever be too many options? A meta‐analytic review of choice overload
The choice overload hypothesis states that an increase in the number of options to choose from may lead to adverse consequences such as a decrease in the motivation to choose or the satisfaction with the finally chosen option. A number of studies found strong instances of choice overload in the lab and in the field, but others found no such effects or found that more choices may…
Institution partenaire
English / 01/01/2010
The Future for Business in Switzerland? How to Stay Ahead
The financial and economical crisis of the last three years has brought many new challenges for the Swiss economy. However, every crisis presents opportunities. A new report by Deloitte and the Institute of Management of the University of St. Gallen shows how Swiss business rate these opportunities and which actions are required by the government and companies if Switzerland wants to…
Institution partenaire
English / 01/01/2010
Are Securitized Real Estate Returns more Predictable than Stock Returns?
This paper examines whether the predictability of securitized real estate returns differs from that of stock returns. It also provides a cross-country comparison of securitized real estate return predictability. In contrast to most of the literature on this issue, the analysis is not based on a multifactor asset pricing framework as such analyses may bias the results.We use a time…
Institution partenaire
English / 01/01/2010
Syndication of venture capital investment : the art of resource pooling
Institution partenaire
English / 01/01/2010
Bounded rationality and asset pricing with intermediate consumption
Institution partenaire
English / 01/01/2009
Foreign exchange exposure of U.S. firms and macroeconomic conditions: is there a link?
Institution partenaire
English / 01/01/2009
The role of venture capital firms in Silicon Valley's complex innovation network
Institution partenaire
English / 01/01/2009
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