Layer 3 team

2007

Gewald, H.; Gellrich, T. (2007)

The Impact of Perceived Risk on the Capital Market's Reaction to Outsourcing Announcements

In: Information Technology and Management, Vol. 8, No.4 pp. 279-296; Springer

Category: Publications in scientific journals [Find it]

Abstract

Outsourcing is a widely accepted option in strategic management, which, like every business venture, bears op-portunities and risks. Supplementing the popular area of research on the merits of outsourcing, this paper exam-ines how stockholders rate corporate sourcing decisions with regard to the risk they associate with this transac-tion. Using event study methodology and multivariate cross-sectional OLS-regression, we analyze a sample of 182 outsourcing transactions in the global financial services industry between 1998 and 2004 in order to inves-tigate the risk-specific drivers of excess returns to shareholders. The analysis studies the impact of risk-specific independent variables, including transaction size, length, outsourced business functionality, and experience with outsourcing. Our findings indicate that risk-mitigating strategies have significant explanatory power, indicating that the capital market's reaction to an outsourcing announcement might at least partly be forecast. Results show a positive correlation between market reaction and business process outsourcing by financial services compa-nies. We also find strong evidence indicating that capital markets react positively to relatively large transactions compared to the market capitalization of the outsourcing firm. For service providers our results show that tradi-tional IT-related sourcing projects or the insourcing of administrative processes have a significant positive cor-relation with market reaction.

Reference No.: 2007-376

2006

Friedrich, L.; Gellrich, T.; Hackethal, A.; Wahrenburg, M. (2006)

Strategic Decisions regarding the Vertical Integration of Human Ressource Organizations of Financial Services Firms and Industry Companies

In: The International Journal of Human Resource Management 17 (10), p1726-1771.

Category: Publications in scientific journals

Reference No.: 2006-282

2005

Wahrenburg, M.; König, W.; Beimborn, D.; Franke, J.; Gellrich, T.; Hackethal, A.; Holzhäuser, M.; Schwarze, F.; Weitzel, T. (2005)

Kreditprozess-Management

In: Books on Demand; Norderstedt (ISBN: 978-3833431593)

Category: Book [Find it]

Abstract

Auf Grundlage einer empirischen Studie des E-Finance Lab mit den größten 519 deutschen Kreditinstituten zeigen die Autoren, dass

- über die Hälfte der Institute mit den eigenen Kreditprozessen und der Zinsmarge nicht zufrieden ist
- ein Drittel den Anteil der gewinnbringenden Kundenbeziehungen nicht kennt
- nur 7% den gesamten Kreditprozess durch ein einziges System abwickeln und nur 22% der Institute elektronische Kreditakten haben
- Vertriebsmitarbeiter weniger als die Hälfte ihrer Arbeitszeit mit Kunden verbringen.

Outsourcing wird dabei als wichtiger Trend gesehen, aktuell indes zurückhaltend betrieben. Im Rahmen der erwarteten Segmentierung der Bankenlandschaft möchten sich 9 von 10 Banken auf den Vertrieb spezialisieren. Allerdings sind die Bereitschaft zum Fremdbezug von Leistungen und der Vorbereitungsstand gering. So haben erst 46% der Privatbanken Outsourcing-Optionen bewertet, 31% der Genossenschaftsbanken und nur 22% der Landesbanken/Sparkassen.

Das Buch zeigt operationelle Verbesserungspotentiale für alle Teile des Kreditprozesses auf und identifiziert Ansätze für eine bessere Konfiguration der zugrunde liegenden Prozesskette im Spannungsfeld von Eigenerstellung und Outsourcing.

Reference No.: 2005-218

Gellrich, T.; Hackethal, A.; Holzhäuser, M. (2005)

Vertical Integration and Bank Performance

In: Proceedings of the INFORMS Annual Meeting, New Orleans, USA

Category: Proceedings

Reference No.: 2005-217

Wahrenburg, M.; Hackethal, A.; Friedrich, L.; Gellrich, T. (2005)

Personalwesen: Wertschöpfungsstrukturen und Prozessoptimierung: Ein Vergleich von Finanzdienstleistern und Industrie

In: E-Finance Lab Ergebnisband

Category: Working papers

Reference No.: 2005-126

Gellrich, T.; Hackethal, A.; Holzhäuser, M. (2005)

Vertical Integration and Bank Performance

Category: Proceedings

Reference No.: 2005-122

Gewald, H.; Gellrich, T. (2005)

The Impact of Perceived Risk on the Capital Market's Reaction on Outsourcing Announcements

In: 9th Pacific Asia Conference on Information Systems; Bangkok, Thailand

Category: Proceedings [Password Protected Download] (Please contact the author)

Abstract

Outsourcing has become a widely accepted option in strategic management which, as every business venture, bears chances and risks. Supplementing the popular area of research on the merits of outsourcing, this paper examines how stockholders rate the corporate sourcing decision with regard to the perceived risk they associate with this transaction. Using event study methodology and multivariate cross-sectional OLS-regression, we analyze a sample of 182 outsourcing transactions of the global financial services industry between 1998 and 2004 in order to investigate the risk-specific drivers of excess returns to shareholders. The analysis studies the impact of risk-specific independent variables which include the transaction size, length, outsourced business functionality, and experience with outsourcing. Our findings indicate that risk-mitigating strategies have significant explanatory power, indicating that capital market’s reaction to an outsourcing announcement might at least partly be forecasted. Results show a positive correlation of market reaction and business process outsourcing of financial services companies. We also find strong evidence indicating that capital markets react positively towards relative large transactions compared to the market capitalization of the outsourcing firm. For service providers our results show that traditional IT-related sourcing projects or insourcing of administrative processes has a significant positive correlation with market reaction.

Reference No.: 2005-114

Gellrich, T.; Gewald, H. (2005)

Sourcing, Risk and the Financial Market

In: Proceedings of the 13th European Conference on Information Systems; Regensburg

Category: Proceedings

Abstract

Outsourcing has become a commonly accepted alternative of strategic management. But how do stockholders rate the corporate decision to divest parts of the former business? We study the stock market reaction of outsourcing announcements of the global financial services industry, using event study methodology and multivariate cross-sectional regression analysis. We analyze a sample of 162 outsourcing transactions between 1997 and 2004 in order to investigate the drivers of excess returns to shareholders of outsourcers and insourcers in the global financial services industry. The analysis studies the impact of independent variables, the driving factors. Our findings indicate that many of these factors have significant explanatory power, indicating that capital market’s reaction to an outsourcing announcement might at least partly be forecasted. Partnering with experienced service-providers significantly benefits the outsourcer. Evidence indicates that insourcers significantly benefit from large deals and transactions relating to traditional IT processes.

Reference No.: 2005-70

Gellrich, T.; Gewald, H. (2005)

Sourcing Risk and the Capital Market's Perspective

In: Proceedings of the 6th Annual Global Information Technology Management Conference; Anchorage, Alaska, USA

Category: Proceedings [Password Protected Download] (Please contact the author)

Reference No.: 2005-39

König, W.; Wahrenburg, M.; Hackethal, A.; Weitzel, T.; Beimborn, D.; Franke, J.; Gellrich, T.; Holzhäuser, M.; Schwarze, F. (2005)

Kreditprozess heute und morgen

Category: Working papers [Password Protected Download] (Please contact the author)

Reference No.: 2005-38

2004

Friedrich, L.; Gellrich, T.; Hackethal, A.; Wahrenburg, M. (2004)

Intelligentes Sourcing - Eine theoretische Fundierung

In: FAZ-Management-Handbuch, Hrsg. von Accenture; Frankfurt am Main

Category: Chapter in book

Reference No.: 2004-224

Gellrich, T.; Gewald, H. (2004)

Sourcing Risk and the Capital Market's Perspective

In: Working Paper

Category: Miscellaneous

Abstract

Long Version of GITMA Paper

Reference No.: 2004-184

Gellrich, T.; Hackethal, A.; Holzhäuser, M. (2004)

Vertical Integration and Bank Performance

Category: Miscellaneous

Reference No.: 2004-160

Gellrich, T.; Friedrich, L. (2004)

Banken gliedern Ihre Funktionen aus

In: Handelsblatt, Düsseldorf

Category: Other publications

Reference No.: 2004-88

2003

Friedrich, L.; Gellrich, T.; Hackethal, A.; Wahrenburg, M. (2003)

Intelligentes Sourcing - Eine theoretische Fundierung

In: H. C. Jahn, F. Riemensperger, S. Scholtissek (Hrsg.): Fachbuch Sourcing, Die Toolbox: Wie Sie Ihre Wertschöpfungskette optimieren, Frankurter Allgemeine Buch im F.A.Z.-Institut, Frankfurt am Main, 2004.

Category: Chapter in book

Reference No.: 2003-91