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- Fakultät Wirtschaftswissenschaften (4) (entfernen)
The issue under investigation in this study is to explore the drivers and suggest methods for environmental managers to integrate environmental issues in the top management strategic decision-making. In order to make the reading easy the whole study has been written following the principle of providing the minimum information to clarify the point under discussion, no more, no less. The conclusions, the analysis, the implications and the limitations are discussed on a chapter by chapter basis, making it easier for the reader to remember the issue under discussion. The closing chapter brings together the conclusions of each chapter of the study. The study is divided into two parts. Part I: Planning describes the planning and preparation for the research and consists of the following chapters: Chapter 1 provides an overview of the interest, relevance and importance of this study. Also it proposes, through the introduction of the relevant literature, an exact wording for the research problem and a framework for evaluating the effectiveness of each process step. Chapters 2 and 3 describe and justify the chosen framework that prompts managers during interviewing and organises the resulting contents in a way that will support effective decision making. This is the end of the planning part of the study and we now move into the action part where the case studies are explained in full. Part II: Intervention comprises the following chapters: Chapter 4 is where the action begins, the first phase of the process. This chapter discusses the reasons selection and participation in the research and the process for choosing a business unit. Chapter 5 details, justifies and discusses the choices of who to interview. It outlines how the interviews were conducted and summarises the resulting contents. In Chapter 6 the general issue of who to involve in interviews is explored further for the specific case of the environmental manager. The main objective is to discuss whether and why the environmental manager had more/less/different ideas from the rest of the management team. Chapter 7 deals with the first time that the people meet as a group. For this process step the choices were about how to display and generate discussion on the contents gathered during the interviews. Chapter 8 focuses on the environmental manager’s contribution to the objective Fine-tuning discussion. Chapter 9 describes the Indicator Building process and how this may be relevant for the environmental manager. Concluding Remarks wraps up the results and discusses the need for extending this research further.
Consisting of three articles and a framework manuscript, this cumulative dissertation deals with sustainable compensation of chief executive officer (CEO) with a focus on climate-related aspects. Against the backdrop of the European action for sustainability and the EU Green Deal, the dissertation pays special attention to the consideration of climate-related aspects of corporate performance in CEO compensation. In this context, sustainable compensation is characterized by the consideration of long-term interests and sustainability of the company as well as by the inclusion of financial and non-financial aspects of environmental, social and governance performance (ESG) in compensation agreements. While this novel instrument of corporate governance aims to incentivize the implementation of sustainability-oriented corporate strategy, it is particularly important to unfold this incentive effect at the individual CEO level in view of their managerial discretion. The framework manuscript discusses the research objectives, the regulatory and theoretical background, the results of the dissertation and their implications in the context of regulation, research, and business practice. The essence of the dissertation are the three articles. The first article examines the current state of empirical research based on 37 articles that were published between 1992 and 2018. Based on a multidimensional research framework, the structured literature review compiles past research findings, identifies contentual and methodological foci in the research area, and derives questions for future research. The second article addresses the topic from a conceptual perspective. Taking the existing work as a starting point, a conceptual framework is derived, which organizes the determinants of carbon-related CEO compensation at societal, organizational, group and individual levels of analysis. On this basis, eight propositions are presented that seek to distinguish between the determinants which support and challenge the implementation of carbon-related CEO compensation. The third article focuses on the use of CO2-oriented performance indicators in CEO compensation. The empirical-qualitative study analyzes corporate disclosure of the 65 largest companies in the EU for the years 2018 and 2019. The study addresses the use of CO2-oriented performance indicators in corporate strategy and CEO compensation. It also examines which compensation components are determined with the help of CO2-oriented performance indicators, which type of performance indicators are used, and whether CO2-intensive and less CO2-intensive companies differ in this regard.
In this dissertation, the author focuses on the link between (internal) corporate governance structures and processes and firms financial reporting quality. Specifically, the dissertation aims to provide insights into the following general research question: What is the effect of different corporate governance stakeholders on the financial reporting quality of a firm? The author provides insights into this question through three different articles. Paper #1 explores the relationship between family firm status and earnings management and synthesizes and explains previous research findings with the help of meta-analytic methods that are still uncommon in financial accounting research. The authors find a negative relationship between family firms and earnings management on average across 37 primary studies (and 305 effect sizes in total). Furthermore, they show that the considerable variation in size and direction of primary effect sizes can be explained by researchers choice of study design, earnings management proxy and different institutional settings. The second paper explores institutional owners as a different set of shareholders and their impact on financial reporting quality. The study enables the authors to compare the results against the backdrop of the previous chapter and to see different rationales that managers in institutionally-owned companies might have to engage in earnings management. Here, the authors study 511 effect sizes from a total of 87 primary studies and find that the average effect is slightly negative, meaning institutional owners on average can get more transparent earnings figures from the companies they invest in. Similar to the work they did on family firms, they find considerable heterogeneity between results from primary studies. Specifically, their multivariate meta-regression models can explain 26% of the variability in effect sizes, mainly attributable to study design choices. The third paper is concerned with managers and how managerial personality drives the propensity to engage in fraudulent accounting activities. The author uses a primary sample of 956 professionals, who work in accounting and finance departments, and ask them to rate their immediate superior on dark triad personality traits, as well as common actions taken by management to obscure and manipulate earnings figures. He finds that managers with high ratings for dark triad personality traits engage to a greater extent in fraudulent accounting practices, than managers scoring low on the dark triad scale. Moreover, the author can show that traditional risk management mechanisms, like internal audit departments, are only partially effective. Specifically, he finds that only internal audit departments that are fully staffed by external personnel can curb the adverse effect of dark triad managers on financial reporting quality. This suggests that managers with dark personalities can take advantage of mixed or entirely in-house internal audit departments. Overall, this dissertation contributes significantly to both literature streams of corporate governance and financial reporting quality. This work can explain a significant degree of heterogeneity in previous findings on the link between different kinds of ownership and earnings management. Further, it stresses that the considerable variation in current findings is not mainly attributable to cross-country differences, as previously suggested, but in no small part attributable to study design features. Finally, the author can provide additional evidence on current research linking executive personality traits and financial reporting practices.
Der Wandel des Energiesystems ist eine der zentralen Nachhaltigkeitstransformationen, denen sich die Forschung widmet. Wie für die Transition-Forschung verschiedentlich festgestellt, besteht allerdings eine gewisse Lücke bei der Frage, wie Nachhaltigkeitstransformationen organisiert und finanziert werden. Insbesondere fehlt es an einer Ausdifferenzierung und vertieften Analyse einzelner institutionell-organisatorischer Lösungen und an einer Darstellung im Zusammenhang der komplexen sozio-ökologisch-technischen Systeme, in die konkrete Organisationslösungen für eine nachhaltige Energieversorgung eingebunden sind. In der vorliegenden Arbeit werden mit genossenschaftlichen Ansätzen, also Organisationslösungen mit (Teil-)Eigentum der Bürger an den Anlagen, spezifische hybride finanzielle Arrangements im Energiesektor in den Fokus gerückt. Dem institutionenanalytischen Ansatz der Bloomington School folgend wird im Rahmenpapier und insgesamt sechs Fachartikeln der Frage nachgegangen, welche Formen genossenschaftlicher Ansätze im Globalen Norden und Globalen Süden anzutreffen sind und welche Rolle diesen in den Transformationsprozessen des jeweiligen Energiesystems zukommt. Für die Analyse wird auf das Social-Ecological Systems Framework zurückgegriffen, das für die einzelnen Untersuchungen modifiziert bzw. konkretisiert wird. Im Einzelnen wird in den Fachartikeln ein Überblick über die Erkenntnisse zu genossenschaftlichen Ansätzen im Globalen Süden gegeben, auf der Makroebene den wechselnden politischen Prozessen von Koordination und Contestation nachgegangen, auf der Mesoebene die Entwicklungen von Windenergiegenossenschaften in Belgien, Dänemark, Deutschland und dem Vereinigten Königreich vergleichend analysiert, der Zusammenhang von Finanz- und Energiesystem untersucht und für diesen Kontext Gerechtigkeitsnormen konkretisiert und schließlich auf der Mikroebene die Inklusivität von Bürgerenergieinitiativen näher betrachtet und Unterschiede in den Investitionsmotiven verschiedener Bürgerenergieakteure herausgearbeitet.