Psychodynamik von Geld und Besitz in mittelständischen Familienunternehmen

The author discusses experiences during a research project dealing with family businesses. In those businesses the individual psychodynamic of family members is closely confounded with the dynamics of necessary role behavior. One of the most critical situations is the successful succession of generations. Those processes are often subverted by an unconscious destructiveness resulting from unresolved, often gendered interpersonal conflicts and multiple insults. To support family businesses saving their future consultants have to be sensible not only for economical profit but for emotional gratification too, creating an atmosphere which allows all participants speaking freely about their hopes and fears. The article presents social configurations which a consultant must comprehend well if he wants to give reliable orientations to their clients.     

Mentoring und Coaching in Unternehmen — Abgrenzung der Inhalte

Mentoring and coaching in companies — definition of contentsOften Mentoring and Coaching are used at the same time in the same situations. Mentoring marks the consultation relationship inside the company, regarding knowledge of the culture of the company, habits and unwritten statues, whereas coaching intends to get independent advice for the personality from outside the company. The different use of the terms enables the user to define the roles, contents, goals of the consultation which are dependent of the individual development goals of the person.     

Führung in Familienunternehmen: Besonderheiten der Entscheidungsfindung und Verhaltenssteuerung und deren Auswirkung auf den Unternehmenserfolg

This paper draws on a survey design to investigate whether family ownership and leadership have an influence on the decision-facilitating and decision-influencing roles of management control. Moreover, we investigate whether the more intuitive decision making in family firms which is often said to be caused by a lack of professionalism, is indeed a disadvantage. The results indicate significant differences in the use of management controls between family firms and non-family firms. However, in contrast to the prevailing view in literature, the performance of family firms is not affected negatively by their specific way of making decisions and by their more centralized management style. According to our data, the prevailing characterization of family firms as being less professionally managed seems questionable.     

Wertewandel in Organisationen und Unternehmen als Fragestellung für Organisationsberater/innen

Change of values in organizations and enterprises as an issue to organization counselors Ethical issues are hardly ever explicitly formulated in the process of supervision or organizational development. However they have a strong impact on the everyday procedures of an organization in the form of conflicting values and goals. The costs of such unresolved conflicts for organizations and enterprises should not be underestimated. Organization counselors have the adequate potential to facilitate even complex processes of value changes within an organization. The following article explains by an example how the controversies about conflicting interests based on value issues can be adressed in the context of an organizational development process. This is done on grounds of the person-centered approach by Carl Rogers.     

Say on Pay: Ein Überblick über Gestaltungsoptionen, ökonomische Konsequenzen und Erkenntnisse aus Empirie und Laborexperimenten

Most countries of the European Union as well as the US recently introduced shareholder votes on the remuneration of executives, also referred to as “Say on Pay” (SoP). Interestingly, legislators in different jurisdictions opted for quite dissimilar voting right regimes. We provide an overview of the main regulatory approaches and discuss the potential impact of variations in SoP design on the structure of compensation contracts and the utility of shareholders and executives. We find that pre-contractual SoP and conditional post-contractual SoP with binding consequences are in the best interest of shareholders. By contrast, advisory SoP typically suffers from lacking enforceability. We also find that post-contractual SoP with binding consequences results in efficiency losses because it fuels moral hazard on the part of shareholders. We complement the theoretical analysis with a discussion of recent empirical and experimental studies on Say on Pay.     

Implizite Theorien über Lernen und Veränderungen durch Coaching in Organisationen – Eine empirische Untersuchung

There are many different ways to understand and use coaching in organization which are influenced by the organizational culture with different basic assumptions about learning and change of humans. The question is on behalf of which implicit theory the members understand and develop their organization. The goal of the following investigation is to describe these implicit theories of change. Therefore a large sample of human resource managers were interviewed about assessment criteria for coaches, coaching topics, expectations on coaching, attitudes on coaching and the impact of coaching in their organization. The results show that there are no distinguishable patterns in the formal coaching processes but clear und different types of implicit theories about coaching. Finally some implication for coaching in organization and for external professional coaches were made.     

Die Wirkung von informellen und internetbasierten Rekrutierungskanälen auf den Rekrutierungserfolg: Eine empirische Analyse in kleinen und mittleren Unternehmen

This study analyses the impact of informal and web-based recruitment sources on several dimensions of SME recruitment success. Our results show that informal recruitment sources unfold a different impact on applicant-pool quantity and -quality, and applicant fit than web-based recruitment sources. Informal recruitment sources (recruitment via personal networks, employee referrals etc.) enhance applicant-pool quality, person-organization fit and person-job fit. Web-based recruitment sources primarily increases applicant-pool quantity. HR-recruitment websites also unfold a positive effect on applicant-pool quality. Accordingly, the use of these recruitment sources needs to be planned in a strategic manner, in order to achieve firm specific recruitment goals regarding applicant-pool quantity and –quality.     

Die Entscheidung über den Verkauf von Wertpapieren unter der Abgeltungssteuer und auf Basis subjektiver Erwartungen

Since January 1, 2009 realized capital gains on securities are taxable in Germany regardless of the investor’s holding period. This paper examines when a rational investor should optimally sell a security in the presence of capital gains taxes. Besides taxes, our analysis considers the relevance of investor’s subjective expectations about future market prices of the security. The results suggest that investors should base divestment decisions primarily on their expectations. To realize losses or to avoid the realization of taxable gains (i.e. the lock-in-effect) is of minor importance for the optimal divestment strategy. This result becomes even more pronounced when transaction costs and limitations to save taxes by realizing losses are considered. Numerical calculations illustrate the results of our analysis.     

Zum Einfluss der Inhaberführung auf die Betriebsrat-Geschäftsführer-Beziehung – Eine theoretische und empirische Analyse in mittelständischen Unternehmen

This paper examines the quality of the relationship between business managements and works councils in small and medium-sized enterprises and strives for answering the question, which factors determine the quality. As ownership is an important determining factor of the establishment of works councils in small and medium-sized businesses, especially the impact of ownership on this relationship has been investigated. Agency theory and stewardship theory give hints that the owner management can have different impacts on this relationship. In order to test these contradictory hypotheses we have estimated a Heckman selection model to investigate which factors determine the quality of the relationship between business managements and works councils. Our results based on data generated from a survey in small and medium-sized enterprises conducted by the IfM Bonn in the years 2005 and 2006 indicate that ownership has a negative influence on the establishment of works councils, but a positive one on the quality of the relationship between business management and works council. Thus, the hypotheses predicting the existence of stewardship behaviour among owners and the existence of agency behaviour among managers can be confirmed.     

Say on Pay als Neuverhandlung von Managementverträgen,Kommentar zu Göx & Kunz: „Say on Pay – Ein Überblick über Gestaltungsoptionen, ökonomische Konsequenzen und Erkenntnisse aus Empirie und Laborexperimenten“

This Comment summarizes some of Robert Göx’ and Alexis Kunz’ core results and discusses potential future developments. These developments are inspired through the literature on renegotiation of principal-agent contracts.     

Qualifikation von Ausbildungssupervisoren in der Sozialen Arbeit – Kontexte,Methoden und Erfahrungen

This article moots the issue of how to support students of social work and social pedagogy to develop the prerequisites for a professional exercise within their future vocational role by dint of supervision. Academical training has to offer spaces for reflecting the relationship between clients and their assistants and for the student’s self-development as well. Methodical settings are reflected for the vocational training of students. Of what kind are the relationships between knowledge transfer, practical guidance and supervision? This article pleads for supervision as an educational program and specifies the qualifications for supervisors.     

Fehlerkultur,Fehlermanagement und ihre Bedeutung für Maßnahmen der Personalentwicklung in Kliniken

Error culture, error management and the significance in personnel development The author picks up themes about error culture and error management. As a first step are discussed the relationships between error culture and education and error management and economics. After this the main view of the article lies on high security systems like the atomic industries and the air transportation business. Especially the error reporting in the cockpit may be a model for developing good error cultures in clinics. In the end the author gives some recommendations in personnel work for clinics.     

Zum Verhältnis von Wertadditivität bei Sicherheitsäquivalenten und Risikoanalyse — Replik zu den Anmerkungen „Sicherheitsäquivalente sind nicht überflüssig!“ von Björn Häckel, Christian Holtz und Hans Ulrich Buhl

Zusammenfassung  Die Forderung nach Geldmarktinvarianz in der Risikoanalyse impliziert weder Invarianz des Sicherheits?quivalentes im Hinblick auf den Kassenbestand (additive Konstante) noch Invarianz im Hinblick auf die Finanzierungsstruktur (multiplikative Konstante) des Investors. Hingegen kann sowohl konstante absolute Risikoaversion (Invarianz bezüglich additiver Konstanten) also auch konstante relative Risikoaversion (Invarianz bezüglich multiplikativer Konstanten) durchaus kompatibel mit Geldmarktinvarianz sein. Aus der Wertadditivit?t des Sicherheits?quivalentes bezüglich additiver Konstanten folgt jedoch Geldmarktinvarianz.

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On the relationship between value additivity of certainty equivalents and risk analysis

Summary  If the valuation of risky cash flow streams is independent of transactions in a perfect money market (as required in the so-called risk analysis), this does neither imply value additivity of the certainty equivalent with respect to additive constants, i.e. cash holdings, nor with respect to multiplicative constant, i.e. the capital structure of the investor. But both, constant absolute and constant relative risk aversion, i.e. value additivity with respect to additive and multiplicative constants, respectively, can be consistent with money market invariance. However, value additivity regarding additive constants implies money market invariance.