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Social enterprise and dis/identification : The politics of identity work in the UK third sector

Of late, social enterprise has been criticised for discursively transforming third sector organisations and practitioners into economic agents. This paper argues that such a critique might overestimate the degree to which the discourse of social enterprise works as a deterministic force. Asserting that discourse, rather than being imposed on the third sector, implies subjects who...

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English / 15/11/2012

Limits to Arbitrage During the Crisis: Funding Liquidity Constraints and Covered Indterst Parity

Arbitrage ensures that covered interest parity holds. The condition
is central to price foreign exchange forwards and interbank lending
rates, and reflects the efficient functioning of markets. Normally,
deviations from arbitrage, if any, last seconds and reach a few basis
points. But after the Lehman bankruptcy, arbitrage broke down.
By replicating...

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English / 08/11/2012

The Role of Information Asymmetry in the Choice of Entrepreneurial Exit Routes

Our quantitative study investigates the determinants of internal versus external exit routes in family firms. Building on information asymmetry theory, we examine how an owner's inferior knowledge about the abilities of potential external entrants (in contrast to family internal successors) renders a family internal transfer more likely. This information asymmetry, however, can...

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English / 08/11/2012

Bleak Prospects for Research in GMP in Switzerland

Many European countries, including Switzerland, share deep suspicions about the broad commercial application of Genetically Modified Plants (GMP) in agriculture. Research in GMP, however, is mostly welcome. In Switzerland, nevertheless, an overprotective legal framework against risks of GMP results in regulatory spillovers for research. This article explores how such expanded legal...

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English / 01/11/2012

Towards an Ethical Research Agenda for International HRM : The Possibilities of a Plural Cosmopolitan Framework

In this conceptual paper, we aim to develop a much needed ethical research agenda for international Human Resource Management (HRM), given that the changing geopolitical dynamics interrogate the political role of multinational companies and the ethical stance they take in their HRM practices. To theoretically ground this agenda, we turn to cosmopolitanism and distinguish three main...

English / 01/11/2012

Extending the Socioemotional Wealth Perspective: A Look at the dark Side

We extend the socioemotional wealth (SEW) perspective by arguing that SEW can be negatively associated with proactive stakeholder engagement (PSE). We further suggest that the SEW dimensions can be associated with positive or negative valence. Lastly, we propose that negatively valenced SEW dimensions lead to family centric behavior, which negatively affects PSE. This multifaceted...

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English / 01/11/2012

Dynamics of Journal Impact Factors

For a journal manager, boosting a journal's impact factor is an important objective. The impact factor is a measure of the frequency with which the average article in a journal is cited in a given period of time. The dynamics of impact factors are caused by the interplay of several concepts, such as, seniority of authors and reviewers, journal policies, online availability of...

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English / 01/11/2012

A New Look for the Head Office : Corporate Headquarters Redesigns during Times of Crisis

Companies appear to have adopted a new perspective on the role of their corporate headquarters (CHQ). Instead of considering it a cost factor that can be easily slashed, companies seem to have recognized the need for a stronger corporate hand. By analyzing recent patterns of CHQ change, this article provides valuable lessons on how companies handle this conflict between CHQ cost...

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English / 14/10/2012

A forecast-based comparison of restricted Wishart autoregressive models for realized covariance matrices

Models for realized covariance matrices may suffer from the curse of dimensionality as more traditional multivariate volatility models (such as GARCH and stochastic volatility). Within the class of realized covariance models, we focus on the Wishart specification introduced by C. Gourieroux, J. Jasiak, and R.
Sufana [2009. The Wishart autoregressive process of multivariate...

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English / 01/10/2012

CSR and the Debate on Business and Human Rights : Bridging the Great Divide

Human rights have not played an overwhelmingly prominent role in CSR in the past. Similarly, CSR has had relatively little influence on what is now called the "business and human rights debate." This contribution uncovers some of the reasons for the rather peculiar disconnect between these two debates and, based on it, presents some apparent synergies and complementarities...

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English / 01/10/2012

Contracts and Returns in Private Equity Investments

We analyze the relationship between contracts and returns in private equity (PE) investments. Contractual control in the form of covenants tends to be employed to identify good deals. Better quality fi?rms are more likely to have covenant-rich contracts, as they are less concerned by the constraints imposed by the covenants. PE investors appoint closer associates of the fund in deals...

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English / 05/09/2012

Enhancing the Efficiency of Water Supply - Product Market Competition Versus Trade

In most developed countries, the provision of water is organized at a local level. The costs and tariffs vary significantly, even between adjacent water utilities. Such heterogeneity is an obvious indication of the sector's overall inefficiency and stresses a need for institutional adjustments. We show that cooperation by water trade and the introduction of competition by common...

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English / 01/09/2012

Value is in the Eye of the Owner : Affect Infusion and Socioemotional Wealth among Family Firm Owners

Drawing on the Affect Infusion Model (AIM) from cognitive psychology we develop a conceptual framework that explains how affect related to corporate ownership impacts the formation of socioemotional wealth perceptions among family firm owners reflected in altered subjective value perceptions for the ownership stake. We explore target, personal, and situational features in the...

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English / 01/09/2012

Profit Taxes and Financing Constraints

Without financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With financing constraints, investment becomes sensitive to cash-flow. In this situation, even small taxes impose first order welfare losses, andACE and cash-flow tax systems are no longer neutral. When banks become active and provide monitoring services in addition to finance, an...

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English / 17/08/2012

Process control and risky decision-making: moderation by general mental ability and need for cognition

Human factors and ergonomics research could benefit from focusing more strongly on individual differences - especially trait variables. The present study suggests the analysis of moderator effects as a promising way to enhance understanding of trait variables and process control performance. Process control performance was studied by analysing moderator effects of general mental...

English / 17/08/2012

Between Crises and Reforms: German Fiscal Federalism at a Crossroads

The chapter wants to…
- outline the "deutsche Problem" of fiscal federalism in international comparison
- discuss impact of financial crisis on framework of German federalism
- identify options of possible next steps in German fiscal federalism

The chapter argues that…
- the financial market crisis has triggered some institutional changes in...

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English / 12/08/2012

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