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Risk, Return and Value in the Family Firm

The present text investigates the singularities of family firms with respect to their control risk aversion, their financial performance and their valuation.
With regard to the control risk aversion the text probes a sample of 1215 privately held firms in Switzerland and finds lower leverage levels for family firms affected by undiversified investment, an insufficient…

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English / 01/01/2006

The Rhetoric of Social Entrepreneurship : Paralogy and New Language in Academic Discourse

READING REHEARSAL:

INTRODUCTION
The proliferation of social entrepreneurship narratives being broadcasted on television and published in newspapers, practitioner books and scientific journals epitomizes one of the very latest fashion trends that has penetrated researchers', politicians', and journalists' discourse in equal measure. It is thus noticeable…

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English / 01/01/2006

Export activity and Wage Dispersion : the Case of Swiss firms

Dans ce papier, nous utilisons une base de données d’environ 3’000 entreprises (et env. 160'000 salarié-es) implantées en Suisse pour analyser l’impact de l’activité d’exportation sur la dispersion des salaires. Premièrement, nous estimons des fonctions de salaires qui tiennent compte tant des caractéristiques des entreprises que de celles des employé-es. Dans un deuxième temps…

Institution partenaire

Université de Genève

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English / 01/01/2006

A Cluster Analysis of Multidimensional Poverty in Switzerland

Dans cet article, nous proposons une méthodologie qui offre de nouvelles perspectives dans le contexte de la pauvreté multidimensionnelle. Dans une première étape, on effectue une analyse factorielle afin de construire des indicateurs de pauvreté basés sur de nombreuses dimensions potentielles et sans imposer de contrainte à priori. Les variables de base sont alors combinées dans…

Institution partenaire

Université de Genève

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English / 01/01/2006

QoS-predictions service: infrastructural support for proactive QoS- and context-aware mobile services

Today's mobile data applications aspire to deliver services to a user anywhere – anytime while fulfilling his Quality of Service (QoS) requirements. However, the success of the service delivery heavily relies on the QoS offered by the underlying networks. As the services operate in a heterogeneous networking environment, we argue that the generic information about the networks…

Institution partenaire

Université de Genève

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English / 01/01/2006

Coming to Grips with a Changing Class Structure: An Analysis of Employment Stratification in Britain, Germany, Sweden and Switzerland

Over the last 30 years, trends such as service sector growth, welfare state expansion and rising female participation rates have promoted increasing heterogeneity within the occupational system. Accordingly, this article argues that the class map has to be redrawn in order to grasp these changes in the employment structure. For that purpose, it develops the bases of a new class…

Institution partenaire

Université de Genève

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English / 01/01/2006

Revisiting the effects of regional trade agreements on trade flows with proper specification of the gravity model

This paper uses a gravity model to assess ex-post regional trade agreements. The model includes 130 countries and is estimated with panel data over the period 1962–1996. The introduction of the correct number of dummy variables allows for identification of Vinerian trade creation and trade diversion effects, while the estimation method takes into account the unobservable…

Institution partenaire

Université de Genève

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English / 01/01/2006

Direct democracy: A risk or an opportunity for multicultural societies? The experience of the four swiss multilingual cantons

Does direct democracy tend to endanger or to protect minorities in multicultural countries? The response to this question has been controversial. Some scholars believe that direct democracy may result in “disregard of basic minority rights”; others think that it “serves to protect minorities”. This paper explores the experience of Switzerland, a longstanding multilingual democracy…

Institution partenaire

Université de Genève

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English / 01/01/2006

The macroeconomics of child labor regulation

We develop a positive theory of the adoption of child labor laws. Workers who compete with children in the labor market support a child labor ban, unless their own working children provide a large fraction of family income. Fertility decisions lock agents into specific political preferences, and multiple steady states can arise. The introduction of child labor laws can be triggered…

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English / 01/12/2005

Formalized Data Snooping Based on Generalized Error Rates

It is common in econometric applications that several hypothesis tests are carried out at the same time. The problem then becomes how to decide whichnhypotheses to reject, accounting for the multitude of tests.nThe classical approach is to control the familywise error rate (FWE), that is, thenprobability of one or more false rejections. But when thennumber of hypotheses under…

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English / 01/12/2005

A Note on the Impossibility of a Satisfactory Concept of Stability for Coalition Formation Games

In this note we show that no solution to coalition formation games can satisfy a set of axioms that we propose as reasonable. Our result points out that “solutions” to the coalition formation cannot be interpreted as predictions of what would be “resting points” for a game in the way stable coalition structures are usually interpreted.

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English / 01/12/2005

Avoiding Data Snooping in Multilevel and Mixed Effects Models

"Multilevel or mixed effects models are commonly applied to hierarchical data; for example,nsee Goldstein (2003), Raudenbush and Bryk (2002), and Laird and Ware (1982). Although therenexist many outputs from such an analysis, the level-2 residuals, otherwise known as randomneffects, are often of both substantive and diagnostic interest. Substantively, they are frequently used…

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English / 01/12/2005

Does subsidised temporary employment get the unemployed back to work? An econometric analysis of two different schemes

Not available in German. Subsidised employment is an important tool of active labour market policies to improve the chances of the unemployed to find permanent employment. Using informative individual administrative data we investigate the effects of two different schemes of subsidised temporary employment implemented in Switzerland. One scheme operates as a non-profit employment…

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English / 01/12/2005

Validity of resume reviewers' inferences concerning applicant personality based on resume evaluation

Recruiters infer personal traits from job applicants' resumés and use these inferences in evaluating job applicants' employability. No research to date, however, has determined if resumé reviewers' inferences of applicants' personality drawn solely from resumé biographical data are valid. In the present study, resumé reviewers (N=52) examined one of two applicant…

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English / 01/12/2005

Cross-cultural differences in norm enforcement

We argue that the lack of large cross-cultural differences in many games with student subjects from developed countries may be due to the games studied. These games tap primarily basic psychological reactions, like fairness, and reciprocity. Once we look at norm-enforcement, in particular punishment, we find large differences even among culturally rather homogeneous student groups…

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English / 01/12/2005

An IFRS 2 and FASB 123 (R) Compatible Model for the Valuation of Employee Stock Options

We show how employee stock options can be valued under the new reporting standards IFRS 2 and FASB 123 (revised) for share-based payments. Both standards require companies to expense employee stock options at fair value. We propose a new valuation model, referred to as Enhanced American model, that complies with the new standards and produces fair values often lower than those…

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English / 01/12/2005

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