Is it All About Money? – Affective Commitment and the Difference Between Family and Non‐family Sellers in Buyouts

In this paper we investigate private equity firm perceptions of sellers’ affective deal commitment in buyout transactions. Using a sample of 174 buyouts, we test trust, goal congruence and private equity reputation as potential antecedents of perceived deal commitment. We also examine whether and how different types of sellers, family versus non‐family firms, moderate sources of perceived affective deal commitment. In sum, we find evidence that non‐financial factors play a role in buyouts, particularly for family firm sellers.     

Social and Political Convergence on Environmental Events: The Roles of Simplicity and Visuality in the BP Oil Spill

Cet article étudie de quelle façon et à quel moment les journaux, les ONG environnementales, les entreprises privées et le gouvernement convergent autour des événements environnementaux. En utilisant les données sur le déversement de pétrole BP en 2010 tirées des journaux aux États‐Unis, au Canada et en Grande‐Bretagne et des communiqués de presses de Greenpeace, du Club Sierra, de Halliburton, de Transocean, d’Exxon/Mobil et les annonce de presse de la secrétaire de presse pour le Maison Blanche, nous étudions la capacité d'un événement à faire converger des actions sociales et politiques. En concevant les événements comme des actants, nous vérifions les arguments tirés des publications sur les mouvements sociaux et sur la définition de l'agenda politique à propos du timing, de la simplicité et de la visualité afin de comprendre comment les acteurs politiques convergent. Nous observons que l'effet de convergence est lié au timing, mais pas à la simplicité ou à la visualité. This paper examines how and when newspapers, environmental nongovernmental organizations, businesses, and the government converge on environmental events. Using data on the 2010 BP Oil Spill from newspaper articles in the United States, Canada, and the United Kingdom, press releases by Greenpeace and Sierra Club, press releases by BP, Halliburton, Transocean, ExxonMobil, and Shell, and press statements by the White House Press Secretary, we examine an event's potential to trigger convergence of social and political action. By treating events as political actants, we examine arguments from the agenda‐setting and social movement literatures on timing, simplicity, and visuality to understand when political actors converge. We find that convergence is related to temporal cycles but not simplicity or visuality.     

Behavioral insurance: Theory and experiments

“Risk and insurance” provides an illustrative set of decisions made in the presence of uncertainty. As behavioral models become more integrated into economics and finance, many of their effects are illustrated quite well within insurance markets. Especially noteworthy are the complementary roles of theory and experiments. This article reviews the interactive role of experiments and theory in analyzing insurance demand from a behavioral perspective. We pay special attention to several models of underinvestment in insurance or in other risk-mitigation markets.     

Generalised joint regression for count data: a penalty extension for competitive settings

Statistics and Computing - We propose a versatile joint regression framework for count responses. The method is implemented in the R add-on package GJRM and allows for modelling linear and...     

Low-Cost-Hypothese und Rationalität

We present a basic microeconomic model that includes attitudes and implicates the Low-Cost-Hypothesis for the case of a continuous behavioral variable. Similar to arguments by Best and Kroneberg (2012) with respect to a binary behavioral variable, our model implies that the Low-Cost-Hypothesis should not be tested via regression models that explicitly include interaction terms between attitude strength and costs of attitude conformity. By two applications from environmental sociology – willingness to pay for forest biodiversity and donations for animal protection – it is demonstrated that this best practice approach of testing the Low-Cost-Hypothesis might result in its rejection, while the hypothesis is actually confirmed by our theoretically derived testing strategy.     

Different carrots and different sticks: do we reward and punish differently than we approve and disapprove?

This paper reports lab data from four games in order to analyze and compare the motivations behind monetary punishment and reward and their non-monetary counterparts, disapproval and approval, an important question given that both types of punishment/rewards affect cooperation and norm compliance. The results in our games support the hypothesis that a motivation akin to reciprocity plays the key role for approval and disapproval whereas payoff comparisons play the key role for monetary rewards and punishment.     

Communicating on Behalf of Global Civil Society: Management and Coordination of Public Relations in International Nongovernmental Organizations

In the last few decades, nongovernmental organizations (NGOs) have become influential actors in creating awareness of international social, political, environmental and economic causes in global society. However, NGOs have not received much attention in research on international public relations. This study contributes to filling that gap by analyzing how NGOs manage public relations according to the generic principles of excellence in global public relations and how they coordinate strategic communication between headquarters and local units. An online survey of 440 practitioners revealed 2 excellence clusters and 4 clusters of organizations with differing degrees of centralization. Excellent NGOs were found to assign more resources to public relations and more frequently considered cultural context in their communication programs. Thus, the study gives significant insights into international public relations practice in the global civil society sector and reveals further need for modifying and extending public relations theory in that respect.