The rising power of firms is a major topic for economists and business scholars. While managers try to gain market power by applying several (legal and sometimes even illegal) strategies, society may suffer from welfare losses and higher inequality as a result. While these issues are more discussed in the US than in Europe, an increasing number of publications are devoted to the analysis of corporate power and its consequences within Europe.

Referring and contributing to this ongoing academic debate, Christian Reiner, senior researcher at LBS, has co-edited a special issue together with Christian Bellak, Professor at the Vienna University of Economics and Business. The special issue with the title “The power of firms in the age of neoliberal capitalism” is published as part of the journal “Kurswechsel”, an Austrian, German-speaking journal that takes a critical view on socio-economic developments in rich and poor countries. The editorial (only in German) is available here.

The special issue contains contributions from researchers with different disciplinary backgrounds. For instance, Sandra Pauser, lecturer in marketing at LBS, gives an overview on the strategies that firms apply to protect or expand their more or less powerful position in the market. Another contribution by the German economist Werner Reh sheds light on the dense and probably harmful nexus between the German state and German automobile firms, which benefits the companies and their shareholders at the expense of consumers and the environment.

All in all, the papers provide quite an encompassing overview on several channels through which firms can exercise power to increase profits (power over customers, workers, suppliers or policy makers). Finally, the publication illustrates the high relevance, number and quality of research co-operations of the LBS research unit.

Kurswechsel Journal



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LATEST NEWS

Congratulations to the Class of 2019

On June 28 we were pleased to welcome numerous families and friends to the Lauder Business School campus for a graduation celebration. In his welcome address our Executive Director Alexander Zirkler congratulated the graduates and introduced our Guest of Honor, the US Ambassador to Austria – his Excellency Trevor D. Traina.

Fireplace Talk with the CEO of Austrian Airlines

On June 19 we were delighted to host the CEO of Austrian Airlines, Dr. Alexis von Hoensbroech, in the Lauder Business School ball room. He delivered an inspiring fireplace talk about his career path, the aviation industry in general, and the Austrian Airlines company structure and strategy.

Cooperation Agreement with the City of Vienna

Lauder Business School signed a cooperation agreement with the City of Vienna together with 22 other Universities and Universities of Applied Sciences located in Vienna. On May 14, 2019, Mayor Michael Ludwig signed a cooperation agreement with the Viennese higher education institutions in the City Hall, together with rectors, directors and board members of 23 universities, colleges and universities of applied sciences.

Researching Innovation in Austria

Christian Reiner, senior researcher at LBS, has co-authored the “Austrian Research and Technology Report 2019”. This annual report has been published by three Austrian ministries and written by external experts from applied research institutes and universities. Given the importance of the report for the wider public, it is an honour to contribute to this official publication.

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