Determinanten des Informationsgehalts von Managementprognosen – eine empirische Untersuchung anhand der DAX und MDAX-Unternehmen

In this article the characteristics and determinants of the information content of management earnings forecasts of the German DAX and MDAX companies between 2002 and 2005 are analyzed. As proxy for the information content I use the precision of the wording of a forecast. I can show that the forecasts of MDAX companies are more precisely formulated than those of DAX companies. Furthermore forecasts are formulated more precisely, when companies have, (1) a lower percentage of intangible assets, (2) lower market capitalization, (3) lower volatility of earnings and (4) a higher need for external financing.     

The political economy of South Africa in the interwar period∗

Economic policy in South Africa in the interwar period is discussed in the context of differences between the economic power and political influence of Afrikaner as opposed to mining capital. Previous analyses have been limited by overgeneralisation, narrowness of scope and analytical methodologies which have overemphasised class agencies at the expense of actual and potential economic linkages. State economic interventions are shown to have differed in influence and in impact by area of application. No coherent policy was followed for the development of industry based on agricultural products. Instead, policies were subordinated to devolving central power to fragmented agricultural interests. Industrial policy is shown to have been confined to protection, other forms of subsidy and the creation of a state sector around heavy industry rather than being linked to a strategy of diversification out of the base provided by the activities associated with mining. Despite this lack of a conducive framework, preliminary research reveals that constrained industrial diversification did occur in isolated cases, including chemical and industrial diamond products, suggesting that other development trajectories were possible.     

Fathers’ Financial Support of Children in a Low Income Community in South Africa

We used data from the Birth to Twenty Cohort study to understand children’s receipt of financial support from their fathers in a low income, Black community in urban South Africa. Specifically, we (1) described fathers’ financial support over the life course of children; (2) estimated survival probabilities of receiving support for all children and not receiving support for children who experienced a parental union dissolution; and (3) identified factors that explained variation in the receipt of support after a union dissolution. Results suggest that most children received full or partial support throughout the life course. Furthermore, a high proportion of children received support after a union dissolution with much of the variation driven by pre-dissolution support, father’s education and the presence of extended kin.     

Urban land cover decreases the occurrence of a wetland endemic mammal and its associated vegetation

Urbanization and other land cover changes have been particularly detrimental to wetlands throughout the planet. One wetland specialist that may be sensitive to land cover changes surrounding wetlands is the round-tailed muskrat (Neofiber alleni; hereafter RTM). The RTM is a wetland obligate rodent that appears to have declined over the last half century and is a species of concern in Florida, where it is a near endemic. To determine if urbanization or other land cover influenced the distribution of RTMs we took a multi-scaled approach to examine the occurrence of RTMs and their associated vegetation in North-Central Florida. We detected RTMs on 19 of 72 sample plots and used a Classification And Regression Tree (CART) to determine that dogfennel (Eupatorium capillifolium) was negatively associated with RTMs and maidencane (Panicum hemitomon) was positively associated with their occurrence on sampling plots. Examining the influence of landscape composition for 2 km surrounding our plots we found that RTM occurrence was negatively related to urban land cover. Further, we found that dogfennel increased and maidencane decreased as urbanization increased in the surrounding landscape. Our research suggests that conservation of RTMs and their associated vegetation should focus on limiting urban sprawl at least within 2 km of wetlands.     

Stochastic Bounds with a Low Rank Decomposition

We investigate how we can bound a discrete time Markov chain (DTMC) by a stochastic matrix with a low rank decomposition. In the first part of the article, we show the links with previous results for matrices with a decomposition of size 1 or 2. Then we show how the complexity of the analysis for steady-state and transient distributions can be simplified when we take into account the decomposition. Finally, we show how we can obtain a monotone stochastic upper bound with a low rank decomposition.     

Managing cohesion in transnational organizations: an introduction

Aesthetic approaches seek to enrich knowledge about the ‘sensible’ aspects of experience. The ‘aesthetic dimension’ of shipboard organizational life is evoked and co‐created through multiple aesthetic categories such as the agogic, the sacred, and the sublime rendered through multiple sensory experiences of life aboard. A researcher and sailor‐informant co‐authored aesthetic reading contributes to a growing niche of aesthetic‐based research within organization studies. Our article explores collaboration as an important element of the aesthetic project. Possibilities for future aesthetic inquiries are also considered.     

Immigration and violence: The offsetting effects of immigrant concentration on Latino violence

Despite longstanding interest in the effects of immigration on American society, there are few studies that examine the relationship between immigration and crime. Drawing from social disorganization theory and community resource/social capital perspectives, this study examines the effects of Latino immigration on Latino violence. Data on violence (i.e., homicide, robbery, and Violent Index) and the structural conditions of Latino populations are drawn from the California Arrest Data (CAL), New York State Arrest Data (NYSAD), and U.S. Census data for approximately 400 census places during the 1999–2001 period. Findings suggest that immigrant concentration has no direct effect on Latino homicide or Violent Index rates but may reduce Latino robbery. Immigration also appears to have multiple, offsetting indirect effects on Latino violence that work through social disorganization and community resource measures. These results suggest that (1) immigrant concentration does not contribute to Latino violence and may even reduce some forms of violence, (2) immigration simultaneously stabilizes and destabilizes structural conditions in Latino populations, and (3) it is useful to examine both the direct and indirect effects of immigration on crime.     

Childcare costs and the demand for children—evidence from a nationwide reform

Exploiting the exogenous variation in user fees caused by a Swedish childcare reform, we are able to identify the causal effect of childcare costs on fertility in a context in which childcare enrollment is almost universal, user fees are low, and labor force participation of mothers is very high. Anticipation of a reduction in childcare costs increased the number of first and higher-order births, but only seemed to affect the timing of second births. For families with many children we also find a marginally significant negative income effect on fertility.     

The role of the board in shaping foundations’ strategy: an empirical study

This paper investigates the relationships of the choice of philanthropic strategy with board capital (diversity and networks), board activities (board processes, internal board committees, and board effectiveness), and CEO leadership. Using a sample of 110 Italian foundations, the research shows that board processes have the strongest positive association with an evolved strategic approach to philanthropic institutional grant-giving, while board diversity and strong CEO leadership are associated with the strategic approach only under certain conditions. In particular, good governance processes (e.g., training the board, self-evaluation of trustees, setting the stage for effective board and committee meetings, implementing control software, and steering meetings to improve the board’s analysis) are positively associated with evolved strategic approaches to philanthropy (e.g., signaling other funders for the best grantees, improving the performance of grant recipients, and advancing selected social fields’ state of knowledge and practice).