Publications

  • Alexander Brauneis, Alexandra Rausch
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    ABSTRACT: When making decisions about capital investments, SMEs in both Austria and Germany are traditionally restricted by a low equity base that usually causes high risk premiums imposed by creditors – particularly banking institutions – and by expensive loans. Since the financial crisis has further enhanced the already tensed financial situation of SMEs, SMEs are more frequently confronted by difficulties in financing and more likely threatened in their existence. For this reason it is even more important for SMEs to allocate limited capital funds in a way that both the short- and long-term liquidity is ensured and profits are maximized. In this article we analyze the impact of decisions about the capital structure and the risk of an investment on liquidity and profit. By employing a Monte-Carlo simulation we aim to show how suboptimal decisions and misinterpretations with regard to target figures such as liquidity and profit occur and how the risk of insolvency might increase for SMEs.
    ZfKE ? Zeitschrift für KMU und Entrepreneurship 11/2013; 61(4):265-290.
  • Alexandra Rausch, Alexander Brauneis
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    ABSTRACT: Managerial decision-making often rests on preprocessed and, as a result, considerably reduced information. In our study we investigate to what extent the frame in information processing (inclusion or exclusion) affects the managerial information basis in quantitative and qualitative terms. In an experimental setting, graduate and undergraduate students are asked to prepare a proper foundation for the management’s subsequent decisions by selecting figures they consider to be of particular importance. In two treatments subjects are instructed to (1) actively select relevant figures or (2) exclude figures they do not find relevant. Depending on the particular treatment and on the profit/loss-situation, the subjects’ selection of information and, thus, the managers’ decision-making basis differs significantly.
    EURO Mini Conference 2013, Graz/Austria; 10/2013
  • Alexandra Rausch
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    ABSTRACT: • Eine empirische Untersuchung und Praxisbeispiele zeigen, dass Führungskräfte sowohl analytische als auch intuitive Entscheidungen treffen. • Ob sie sich auf Zahlen und Fakten oder auf ihre Intuition stützen, ist allerdings in hohem Maße von der Entscheidungssituation und dem jeweiligen Entscheidungsträger abhängig. • Da Intuition unbewusst ist, benötigen Führungskräfte insbesondere bei intuitiven Entscheidungen die Unterstützung durch das Controlling. • Die Aufgabe des Controllings ist dabei, Führungskräfte bei kontrollierbarem Risiko zu intuitiven Entscheidungen zu ermutigen und gleichzeitig Intuitionsdefekte aufzudecken und einzugrenzen. • Harte Fakten und Analysen sind für gute Unternehmensentscheidungen ebenso wichtig wie Intuition. • Je größer die Erfahrung und das Wissen der Führungskräfte, desto verlässlicher sind ihre intuitiven Entscheidungen. • Die besten Entscheidungen werden getroffen, wenn das Bauchgefühl durch Zahlen und Analysen bestätigt wird. • Das Controlling soll Führungskräfte situationsabhängig zu intuitiven Entscheidungen ermutigen und bei Selbstüberschätzung Intuition einbremsen.
    Controlling & Management Review. 06/2013; 57(3):14-22.
  • Alexandra Rausch
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    ABSTRACT: Forschungsfrage: Wie effizient und effektiv sind Face-to-Face-Meetings und was kosten sie? Wie kann ihr Nutzen erhöht werden? Methodik: Empirische Untersuchung und Literaturrecherche Praktische Implikationen: Meetings verursachen hohe und facettenreiche Kosten, deren Notwendigkeit häufig fraglich ist. Die Erfassung und Bewusstmachung sowohl der Kosteneinflussfaktoren als auch des Nutzens von Meetings können dazu beitragen, diese effizienter und effektiver zu gestalten. Research question: How efficient and effective are face-to-face-meetings and what do they cost? What can be done to increase the benefits? Methodology: Empirical survey and literature research. Practical implications: Meetings cause high and multifaceted costs; the necessity is often called into question. The identification and the awareness of cost factors as well as the benefits of meetings might contribute to making them more efficient and effective.
    PERSONALquarterly. 04/2013;
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    ABSTRACT: The ability of companies to sense and adapt to environmental uncertainty by leveraging corporate social responsibility (CSR) policies is of critical importance. However, for many companies CSR awareness and knowledge is insufficient or underdeveloped. Further, there is no clear perception among business people on the benefits entailed from the implementation of CSR practices. In this paper, using a sample of 146 companies operating in Croatia, Greece, Poland, and Austria, we examine how these entrepreneurial entities perceive CSR and how they value the importance of CSR in the sustainable development of their business. By applying a questionnaire survey methodology, our findings provide a useful insight into the conditions and various levels of CSR implementation used by these countries.
    The Holistic Approach to Environment. 01/2013; 3(3):153-173.
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    ABSTRACT: This paper constitutes a first empirical attempt to analyse the level of development of current controlling practice and sustainable development in four selected European countries, i.e. Austria, Croatia, Greece, and Poland. It specifically aims to increase the awareness for country-specific differences and to capture key factors of advantages and shortcomings that companies in these countries experience with respect to controlling and sustainable business practice. We hypothesize that companies in more mature countries have a higher level of development in this respect than companies in less mature countries. To this end, we use a questionnaire and analyse a sample of 146 companies. Contrary to our hypotheses we reveal that Austrian and Croatian companies are more advanced in controlling practice towards sustainability while Greek companies offer the highest potential for further development. On the basis of our findings business executives and public officers should be able to cope with present shortcomings in a more appropriate way and to initiate improvements towards sustainability, particularly in the four countries under investigation.
    Zagreb International Review of Economics & Business. 01/2013; XVI(1):37-63.
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    Alexandra Rausch
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    ABSTRACT: Meetings sind ein fester Bestandteil des Führungskräftealltags. Sie können ein wirksames Managementwerkzeug sein, wenn sie effizient und effektiv gestaltet werden. Die Autorin stellt in ihrem Beitrag die Ergebnisse einer empirischen Studie vor und zeigt auf, welche Faktoren hier vornehmlich für den Misserfolg und Erfolg von Meetings verantwortlich zeichnen und inwieweit Entwicklungsmaßnahmen wie Kommunikationstrainings zu einer Verbesserung der Meeting Performance beitragen können.
    Controlling & Management 05/2012; 53(6):376-383.
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    ABSTRACT: Despite the importance of early warning systems (EWS) in revealing weak signals on environmental changes and in constructing a solid base for timely and appropriate business response particularly against the backdrop of business crises, empirical evidence - especially at the country level - still lags behind. The aim of this paper is to contribute to the practical and theoretical knowledge about EWS by providing empirical evidence from companies located in three different European countries, i.e. Croatia, Austria, and Greece. We propose that companies in richer countries, i.e. measured in terms of GDP, have a higher implementation level of EWS and more likely meet the current state-of-the-art of EWS while company’s in countries with lower GDP rather reveal a lesser level of development. Moreover we explore the reasons for not implementing EWS. For our survey we used a structured questionnaire. Against our hypotheses there are no significant differences between countries concerning the level of implementation of EWS. However, there are some differences concerning the kind of EWS. Overall, EWS are predominately short-term oriented and operative in all three countries. The main reasons for not implementing EWS are the shortage of employees and the lack of management initiatives.
    Review of Marketing Theory and Practice. 01/2012; 24(2):201-218.
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    ABSTRACT: In management decision-making is without doubt one of the most important aspects of the job. Thus, the effectiveness and quality of managerial decisions largely determine organizations’ future success. Among the most important managerial decisions there are those relating to the allocation of scarce resources which we would expect to be based upon expectations about future performance. However, ongoing research in managerial decision-making suggests that under certain conditions managers are influenced by a phenomenon termed escalating commitment due to sunk-costs: Since managers who are held accountable for an investment aim at justifying prior decisions, they tend to allocate further resources to the course of action despite negative feedback. While a large body of research in management science and economics has replicated this phenomenon in various contexts, activities and concepts to enforce de-escalation have received relatively little attention. In this paper we investigate reasons for escalating commitment in a management context and exemplarily analyze the contribution of information supply concerning consequences to enhance de-escalation. In an experimental study 390 managers were set into an escalation situation with a failing course of action for which they were held accountable. We manipulated the information supply concerning the amount and the kind of information on possible consequences of the decision. The results provide broad support for the occurrence of the sunk-cost effect in the light of accountability and the need for justification. Nonetheless, the study reveals further key factors for escalating commitment and indicates that the information supply concerning consequences is not sufficient for de-escalation, but that it should be accompanied by other management practices and changes in norms and management culture.
    Problems and Perspectives in Management. 01/2012; 10(2):93-106.
  • 01/2009: pages 339-378; , ISBN: 978-3-7073-1444-1
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    ABSTRACT: One important human factor that influences the efficiency and quality of employees’ and managers’ work in companies is their communicative behavior. Empirical surveys have proved that the main part of managers’ job consists in communicating and participating in organizational meetings but also that those meetings are quite frequently neither efficient nor effective. This fact is well known in most organizations, but the factors that are decisive for meeting success und communication success in general are elusive and therefore largely unknown. To prove the impacts of communication behavior on meeting success we developed a theoretical model based on the traditional input-process-output philosophy. With the help of an empirical survey with 300 managers of a multinational industrial enterprise, we identified concrete success factors that influence communication behavior and suggested ways and “qualitative measures” to get hold of them. Furthermore, we could show that the consequent orientation on communication behavior and continuous improvement of communication and meeting skills are necessary to achieve sustained success.
    IPPM; 09/2008
  • Alexandra Rausch
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    ABSTRACT: Although meetings are an integral part of organizational life, they are often neglected in theory in practice. It is proved, however, that productive meetings can be an effective instrument for management. Nevertheless, they are seldom as successful as they are expected to be. This fact is well known in most organizations, but the factors that are decisive for meeting success are elusive and therefore largely unknown. In research on the factors for success, qualitative factors are usually not paid enough attention because adequate instruments to measure those soft facts that determine the success of communication processes in organizational meetings are missing. The aim of this doctoral thesis was to develop an instrument for measuring meeting success and relevant key factors. Based on a profound research concerning theory and empirical surveys, a theoretical model was created based on the well known 3E-Concept to measure effectiveness and efficiency. Applied to the communication processes in meetings input factors (e.g. group and individual characteristics), process factors (e.g. participation, teamwork), output factors (e.g. efficiency), outcome factors (e.g. effectiveness) and impact factors (e.g. satisfaction) were distinguished. In order to ensure the later implementation of this instrument in practice, the model was validated in an empirical survey. With the aim to prove the hypothesis that the communicative behaviour of participants has strong influence on meeting success and that communication trainings are useful to increase meeting success, the survey was conducted in 3 steps: a status quo-measurement, a feedback measurement after a communication training and an omega-measurement 6 months later. About 300 managers of an internationally operating company in Austria took part in the survey. Using statistic analysis in spss and pls the main key factors and causal relationships were identified. According to the results of this validation the model was modified and revalidated. With the help of the model and its validation in an empirical survey, practitioners were given concrete key factors that have to be optimized and shown where they have to focus their activities for improving organizational communication processes especially in meetings. Finally, it was proved that the proposed model is adequate for its application in practice.
    01/2008; Gabler Verlag., ISBN: 978-3-8349-0925-1
  • Alexandra Rausch, Werner Mussnig, Melanie Hoppe
    01/2007: pages 147-188; , ISBN: 978-3-7143-0102-1
  • Alexandra Rausch, Werner Mussnig, Gernot Mödritscher
    01/2007: pages 7-51; , ISBN: 978-3-7143-0102-1
  • Alexandra Rausch, Rainer Petek, Werner Mussnig
    01/2007: pages 327-356; , ISBN: 978-3-7143-0102-1
  • Alexandra Rausch, Rainer Petek, Werner Mussnig
    01/2007: pages 301-326; , ISBN: 978-3-7143-0102-1
  • Alexandra Rausch, Gernot Mödritscher, Werner Mussnig
    01/2007: pages 407-455; , ISBN: 978-3-7143-0102-1
  • Alexandra Rausch, Werner Mussnig, Gernot Mödrtischer
    01/2007: pages 106-128; , ISBN: 978-3-7143-0102-1
  • Alexandra Rausch, Werner Mussnig, Gernot Mödritscher
    01/2006: pages 355-368;
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    Alexandra Rausch
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    ABSTRACT: This paper focuses on two interrelated research questions. First, an analysis of managerial decision-making is incorporated into shareholder and stakeholder theory. Secondly, the paper investigates what consequences result for management accounting from inherent conceptions of managerial decision-making behavior. These research questions are based on assumptions of complex interrelationships among decision-making managers, management accountants, and techniques they employ. The findings of this research support that tenets of management accounting systems correspond best with shareholder theory. In doing so they apply financial measures, pursue the goal of profit maximization, and focus on decision-making behavior resulting from the agency relationship between shareholder and manager. Stakeholder theory, however, is fundamentally different from shareholder theory in terms of goals, management philosophy, relationships, behavioral assumptions etc. For these reasons differences with respect to managerial decision-making behavior are reasonable and different requirements related to management accounting systems appear appropriate. KeywordsManagement accounting–Decision-making–Managerial behavior–Shareholder theory–Stakeholder theory
    Review of Managerial Science 5(2):137-169. · 0.10 Impact Factor

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