Dokument: Risk-Taking Behavior as a Hidden Factor for Sustainable Business Models’ Performance of European Banks
| Titel: | Risk-Taking Behavior as a Hidden Factor for Sustainable Business Models’ Performance of European Banks | |||||||
| URL für Lesezeichen: | https://docserv.uni-duesseldorf.de/servlets/DocumentServlet?id=59667 | |||||||
| URN (NBN): | urn:nbn:de:hbz:061-20220610-073201-2 | |||||||
| Kollektion: | Dissertationen | |||||||
| Sprache: | Englisch | |||||||
| Dokumententyp: | Wissenschaftliche Abschlussarbeiten » Dissertation | |||||||
| Medientyp: | Text | |||||||
| Autor: | Werk, Katharina [Autor] | |||||||
| Dateien: |
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| Beitragende: | Prof. Dr. Börner, Christoph J. [Gutachter] Prof. Dr. Förster, Guido [Gutachter] | |||||||
| Dewey Dezimal-Klassifikation: | 300 Sozialwissenschaften, Soziologie » 330 Wirtschaft | |||||||
| Beschreibung: | The dissertation aims to obtain a fundamental understanding of the critical determinants of the relationships between business models, risk-taking behavior, and performance. Furthermore, it achieves foundation work for empirical research in the still relatively young field of business model research by being one of the first to operationalize individual elements of the Business Model Canvas (BMC) guideline structure for business model analysis (very popular in practice) and to use it for business models’ description along various dimensions.
Based on the insights of resource-based theory and prospect theory with upper echelons theory as an overarching approach to decision-making in a top management team (TMT) as the central decision-making body, whose subjective cognitive endowments influence strategic decisions differently, this dissertation proposes the risk-taking-behavior-performance business model (RBPB model). This model combines the business model, risk-taking behavior, and performance concepts into one conceptual model for the first time and addresses the hidden factor of risk-taking behavior in business model design as a significant mediator in the relationship between business models and performance. In detail, this analysis examines business models along the dimensions of infrastructure traits and diversity degree characteristics as essential components to describe business models. Negotiated decisions on the orientation of organizational resource endowment correspond to dynamic management capabilities in TMT. They express the individual perception of the decision situation through subjective processing of alternatives based on cognitive endowment by factors such as experience, norms, habits, and knowledge of decision-makers in decision situations under uncertainty and risk. This individual processing and simplification of the decision situation as an antecedent influences the TMT’s actual risk-taking behavior in interplay with firm performance and is central to our analysis. The moderating role of contextual factors of the decision situation in the form of ownership structure, geographical orientation, resource surplus, and entrepreneurial value proposition is also considered. The empirical study of the theoretically derived hypotheses rests on a panel data set of European banks in the eurozone and Switzerland from 2010 to 2019. The methodological approach involves hypothesis testing within three separate empirical studies focusing on different aspects of the conceptual framework. Based on the thesis’ results, we particularly emphasize the relationships between the components of the infrastructure traits element of business models, risk-taking behavior, and performance of our RBPB model. Specifically, for equity capital endowment as a critical component of the infrastructure traits of business models, the dissertation highlights an inverted U-shaped relationship with performance and a positive relationship with risk-taking behavior. At the same time, we show a positive and linear relationship between human capital endowment and performance while a negative relationship with risk-taking behavior. Moreover, we extend the ambivalent literature on the relationship between risk and performance within a behavioral science perspective, highlighting a negative relationship between risk-taking behavior and performance. Moderating effects for ownership structure, geographical orientation, resource surplus, and entrepreneurial value proposition that influence relationships with organizational outcomes are determined. This dissertation adds new empirical insights to the business model research literature, which has mainly focused on the theoretical derivation of individual components of business models. It provides a first step in the in-depth quantitative analysis of the business model concept, and points to the need not to consider the relationship between business modeling and performance without regarding risk-taking behavior. Thus, the RBPB model is groundbreaking because, in addition to the direct influences of infrastructure traits and diversity degree characteristics on performance, it highlights the mediating factor of the TMT’s actual risk behavior, expressed in organizational risk-taking behavior, as an explanatory link in the relationship between infrastructure traits and performance. Accordingly, the infrastructure traits of business models influence performance directly on the one hand and indirectly via actual risk-taking behavior on the other. Moreover, the thesis provides an extended understanding of the influences of contextual factors of entrepreneurial orientation that characterize decision-making situations as framework conditions. Concerning the managerial contribution of this dissertation, we refer to the recommendations regarding business modeling as a concrete entrepreneurial implementation of a strategy to generate sustainable competitive advantage and long-term performance, as well as to the relevance of considering risk-taking behavior as a hidden factor mediating the relationship between business model alignment and performance. Overall, this dissertation combines contemporary issues and research areas, provides meaningful results complementing the resource-based theory, prospect theory, and upper echelons theory as an overarching approach, and gains a deeper and expanded view of the relationships between business models, risk-taking behavior, and performance within the RBPB model. Limitations of this thesis result from the study design and context. | |||||||
| Lizenz: |  Urheberrechtsschutz | |||||||
| Fachbereich / Einrichtung: | Wirtschaftswissenschaftliche Fakultät | |||||||
| Dokument erstellt am: | 10.06.2022 | |||||||
| Dateien geändert am: | 10.06.2022 | |||||||
| Promotionsantrag am: | 21.12.2021 | |||||||
| Datum der Promotion: | 14.03.2022 |
