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Portugal: Political Developments and Data in 2024
No full textOn 25 April 2024, Portugal celebrated the 50th anniversary of the Portuguese Revolution of Carnations, which led to the establishment of democracy in the country. Commemorations took place throughout the year. Moreover, it was a super year of legislative elections and subnational elections in the Azores and Madeira. On top of the national‐ and subnational levels of electioneering, there were also European Parliament elections. A new minority government came into office under Prime Minister Luis Montenegro
Assessing the Performance of Risk Parity Strategies in the German Stock Market
No full textThis thesis provides a comprehensive empirical comparison of four prominent portfolio construction strategies—Equal Weight (EW), Minimum Variance (MV), Momentum (Mom), and Risk Parity (RP)—within the context of the German equity market. Utilizing monthly total return data for a diverse universe of 100 German stocks from February 2003 to March 2025, I conducted rigorous backtests employing standard academic methodologies, including monthly rebalancing, long-only constraints, a 36-month rolling window for covariance estimation (MV and RP), and a "12-1" signal for Momentum. The primary objective was to evaluate the absolute and risk-adjusted performance of these distinct approaches relative to each other and standard market benchmarks (DAX, MDAX, SDAX, TecDAX).
The empirical results reveal significant performance differentials. The Risk Parity strategy emerged as the most effective, delivering the highest Compound Annual Growth Rate (15.27%) and superior risk-adjusted returns (Sharpe Ratio 0.83), validating the principles of risk-based diversification. The simple Equal Weight strategy also proved remarkably robust, achieving strong absolute and risk-adjusted performance (CAGR 12.90%, Sharpe Ratio 0.68) and significantly outperforming market-cap benchmarks. Conversely, the Minimum Variance strategy successfully minimized volatility (7.04%) but at the cost of substantial return potential (CAGR 3.57%). The Momentum strategy, despite using a standard "12-1" signal, exhibited considerable fragility, characterized by high volatility (21.42%), severe drawdowns (-68.46%), and an anomalous negative beta, rendering its positive alpha insufficient compensation for its risk profile.
These findings suggest that, for the German equity market during the period studied, strategies emphasizing systematic diversification through either intelligent risk balancing (Risk Parity) or naive equal weighting offered significant advantages over traditional market exposure, pure volatility minimization, or the specific factor strategy tested. The research contributes practical insights into the application and relative merits of these portfolio construction techniques within a major European market
Qualität von Arbeit in der öffentlichen Verwaltung: erlebte Belastung und Ansatzpunkte für eine salutogene Arbeitsgestaltung
No full textCan the localization ratio be considered as a resilience indicator in the supply chain?
No full textSupply chain resilience is concerned with establishing disruption‐resistant operational practices and ensuring the achievement of some planned performance responding to shocks. Thus, resilience is both a quality and a quantity. The existing literature is rich in analyzing each of these two parts separately. However, studies connecting quantity and quality perspectives are rare. We position our study in the context of debates about the impact of localization on supply chain resilience. We depart from some industrial practices that use a localization degree to measure resilience. Two substantial contributions emerge from this study. First, we define a localization index of manufacturing activities in the supply chain. Second, we test two hypotheses using a discrete‐event simulation model in anyLogistix: (i) Does a localization ratio impact supply chain resilience, and (ii) what role does the severity of shocks play in the impact of localization on supply chain resilience? Our findings suggest that localization impacts supply chain resilience. A positive effect of localization can be observed in scenarios with short‐term disruptions, and it decreases with an increase in shock duration and severity. A mixed strategy combining local and global footprints can be recommended as a resilient supply chain strategy
Strategic Trade-offs in Digital Marketing Practices - Authenticity vs. Manipulation Approach
No full textHolistic augmented reality brand equity (HARBE) model: building customer-based brand equity through augmented reality
Full text linkAlthough some recent research presents various uses of augmented reality (AR) in brand contexts, no overarching model exists to explicate its effects, justify its usage, or specify how it contributes to brand management objectives, such as customer-based brand equity. To determine if AR actually can support brand equity, the current article adapts an existing customer-based brand equity pyramid into a three-stage framework of AR and AR features (cf. 2D communication tools) as brand experiences, consumers’ perceptions and evaluations of AR as mechanisms, and brand equity (salience, meaning, response, and relation) as consequences. A secondary data analysis of 398 effects, extracted from 74 journal papers, published between 2010 and 2024, reveals three key insights. For brand managers, the findings detail the direct effects of AR on brand equity. For marketing managers, they describe consumer behaviours in response to AR. For AR creators, they demonstrate ways to develop purposeful AR experiences. The newly proposed Holistic AR Brand Equity (HARBE) model details the direct effects of AR features and mechanisms on each type of brand equity, which also enables managers to make rapid, evidence-based decisions about leveraging AR to enhance brand strength
What network and performance indicators can tell us about supply chain and sourcing resilience (and what they cannot)
Full text linkSupply chain (SC) resilience takes network connectivity and performance persistence perspectives, which supplement each other. The extant literature has developed a large body of knowledge about SC resilience's network and performance indicators. However, we are unaware of any published research combining these two perspectives in resilience assessment. Therefore, this study aims to advance our understanding of how network and performance indicators can mutually enhance each other when analysing SC resilience as both a system property (quality) and an outcome (quantity). The unique contribution of our study is a combined use of network science and discrete-event simulation allowing for mixed-method grounded integration of static and dynamic views of supply chain resilience. Using node degrees as network indicators and on-time delivery, fulfilment rate, and time-to-recovery as performance indicators, we examine reactions of these indicators to a disruption to the sourcing strategies of three different flexibility degrees. We observe that network science methods can be used to identify disruption existence while simulation methods allow quantifying performance impact. We show how and when the combined application of network and performance indicators can inform decision-makers about SC resilience, and propose a generalised guideline for a practical implementation of the developed approach. Our main conclusion is that SC resilience-assessment models can be mutually enhanced by including network characteristics and process dynamics through a combination of network analysis and simulation
Printmedienberichterstattung in Bayern zu Straftaten mit Messern versus Auswertung der Polizeilichen Kriminalstatistik zu Messerangriffen für Bayern.
No full textDiese Arbeit untersucht die Printmedienberichterstattung zu Messerdelikten in Bayern und vergleicht sie mit den Kriminalitätsdaten der Polizeilichen Kriminalstatistik. Angesichts der zunehmenden medialen Aufmerksamkeit und der politischen Debatten zu Messerkriminalität ist es das Ziel, Unterschiede sowie Schnittmengen zwischen beiden Datenquellen herauszuarbeiten und im Kontext der Wahrnehmung der Kriminalitätsberichterstattung zu reflektieren. Die Arbeit gliedert sich in eine theoretische Auseinandersetzung mit der Medienforschung, eine empirische, quantitativ angelegte Medienanalyse zu 310 Messerstraftaten, sowie eine vergleichende Betrachtung mit der Polizeilichen Kriminalstatistik. Die Ergebnisse zeigen, dass Medienberichterstattung bestimmte Aspekte von Messerangriffen stärker fokussiert, während die Kriminalstatistik eine andere Phänomenologie abbildet, aber ebenfalls Überschneidungen bestehen. In der abschließenden Zusammenstellung aller Erkenntnisse kann exemplarisch aufgezeigt werden, wie die Berichterstattung in Abhängigkeit von informellen Selektionsprozessen polizeilicher Pressestellen steht. Die Bewertung der Erkenntnisse führt zuletzt in die Ableitung der Notwendigkeit weiterer Forschung zu Messertaten im häuslichen Bereich.This thesis examines print media coverage of knife crime in Bavaria and compares it with crime data from the police crime statistics. In view of the increasing media attention and political debates on knife crime, the aim is to identify differences and intersections between the two data sources and to reflect on them in the context of the perception of crime reporting. The work is divided into a theoretical examination of media research, an empirical, quantitative media analysis of 310 knife crimes and a comparative analysis with police crime statistics. The results show that media coverage focuses more strongly on certain aspects of knife attacks, while the crime statistics depict a different phenomenology, although there are also overlaps. In the final compilation of all findings, it can be shown by way of example how reporting is dependent on the informal selection processes of police press offices. The evaluation of the findings ultimately leads to the conclusion that further research into domestic knife crime is necessary
How can the German Act on Corporate Due Diligence Obligations in Supply Chains provide an effective answer to human rights violations experienced by workers?
Full text linkIn 2013, the collapse of the Rana Plaza building in Bangladesh caused a massive uprise in discussions about mandatory human rights due diligence obligations and brands’ and retailers’ responsibility within supply chains of apparel production. Against this background, the German Act on Corporate Due Diligence Obligations in Supply Chains (LkSG) constitutes the German legislator’s attempt to establish a mandatory legal framework to prevent and mitigate human rights violations as well as to provide an answer to imminent and existing violations. This research scrutinized how the LkSG can provide an effective answer to human rights violations experienced by workers analyzing the case of the ready-made garment industry in Bangladesh. This choice of focus opened a perspective on a highly globalized and modularized industry where past attempts to improve workers’ rights brought very limited structural change. Bangladesh’s ready-made garment industry is defined by market despotism and a state captive to the interest of business. Furthermore, the brands’ and retailers’ purchasing practices heavily shape the industry. This research revealed that safeguarding fundamental human rights anchored in the LkSG is key to meet the workers’ needs. The strengths and weaknesses of the complaints mechanisms anchored in the legislation were investigated, revealing that they overall fall short of their potential to safeguard human rights. Additionally, the research assessed prevailing power asymmetries and approaches to counteract them, for instance mandatory collective bargaining, responsible purchasing practices and exit strategies. Finally, potentials for workers and their representatives to effectively apply the LkSG were emphasized, including capacity building, knowledge transfer, interpretation and legal struggles. In this regard, the importance of international solidarity for rightsholders’ improvements became apparent. Room for maneuver and possibilities to make further progress exist since the development of mandatory human rights due diligence is in a state of flux with the European Corporate Sustainability Due Diligence Directive to be implemented gradually into national legislation and first measures due by 2027
Vom stationären zum Omni-Channel-Händler: Digitale Transformation in Ikea’s Einzelhandels- und Logistiknetzwerk und Auswirkungen auf Arbeit
Full text linkEtablierte Einzelhandelsunternehmen erhalten zunehmend Konkurrenz von neuen Onlinehändlern. Angesichts dieser Entwicklung bauen auch traditionell stationäre Einzelhändler unter dem Leitbild des ‚Omni-Channel‘-Modells mithilfe von neuen digitalen und Automatisierungs-Technologien vernetzte stationäre und Onlinehandelskanäle auf. Der Beitrag nimmt die bisher in der Literatur weniger beachteten digitalen Transformationsprozesse im traditionellen Einzelhandel in den Fokus. Wir untersuchen vor diesem Hintergrund die geographische und organisationale Restrukturierung von Ikea’s Einzelhandels- und Logistiknetzwerk in Deutschland im Rahmen der Omni-Channel-Strategie des Unternehmens sowie Auswirkungen auf Arbeitsprozesse und -bedingungen. Dabei illustrieren wir einerseits, wie Ikea durch Investitionen in E‑Commerce-Logistikzentren und durch die Einbindung der Möbelhäuser sein Logistiknetzwerk geographisch stark ausdifferenziert und zugleich flexibilisiert hat. Im Hinblick auf Arbeitsprozesse und -bedingungen zeigen wir eine zunehmende Verschiebung von Tätigkeitsprofilen vom Einzelhandel hin zu logistischen Tätigkeiten sowie die zunehmende Automatisierung von manuellen und von Planungs- und Steuerungstätigkeiten in Verkauf und Logistik, welche mit neuen Konfliktfeldern einhergehen. Betriebsräte spielen vor diesem Hintergrund eine wichtige Rolle, um potenzielle negative Folgen für Beschäftigte wie individuelle Leistungs- und Verhaltenskontrolle oder Abgruppierungen zu verhindern