Some properties of the relative squared error approach to linear regression analysis

In order to obtain optimal estimators in a generalized linear regression model we apply the minimax principle to the relative squared error. It turns out that this approach is equivalent to the application of the minimax principle to the absolute squared error when an ellipsoidal prior information set is given. We discuss the admissibility of these minimax estimators. Furthermore, a close relation to a Bayesian approach is derived.     

Equity versus non-equity international strategic alliances involving Danish firms: An empirical investigation of the relative importance of partner and host country determinants

A substantial literature has evolved focusing on the ownership structure of international strategic alliances (ISAs). Most of the relevant studies are theoretical in nature and concentrate on the conceptual factors that influence the choice between equity and non-equity structures. A smaller number of studies provide some empirical evidence on the importance of some of the conceptual factors. The theoretical literature highlights the potential influence of relational capital and transaction costs as determinants of ISA structure; however, there is little empirical evidence on the relative importance of these potential determinants. Moreover, there is only limited and indirect evidence bearing upon the impact of host country governance attributes on ISA ownership structure. In this study, we provide statistical evidence on the importance of potential determinants of governance mode choice for a sample of ISAs involving Danish firms. Our study documents how the determinants of governance mode choice vary in importance depending upon the “quality” of the governance infrastructure of the host country.     

Stop Making Sense! Erfolgreiche Teamkooperation in globalen Kontexten

With the ongoing globalization process and hierarchical organizations being extended by network oriented principles of governance, the effective team cooperation becomes a success criterion for the management of complex organizations. Group dynamics and organizational theory establish well known variables that have to be addressed for assuring the performance and effectiveness of team work. This article extends these findings by a focused analysis of characteristics of multinational teams. Moreover, success criteria for uncovering the available potential within international teams are explored. On the basis of ethnologic and system-theoretically considerations, the current status quo concerning the manifold integration efforts (such as the prevalent team building programs) will fundamentally be questioned as well as alternatives developed. Finally, the risks and opportunities of a difference oriented mindset will be illustrated on the basis of a concrete and practical example.     

What’s Wrong with the HIPC Initiative and What’s Next?

This article reviews the problems of the enhanced HIPC initiative and outlines possible steps towards a more efficient debt and poverty reduction initiative. After brief comments on the rationale for debt relief, it analyses some key issues related to the HIPC initiative’s aim to achieve debt sustainability, describes other fundamental problems of the HIPC framework, and discusses some less known but still crucial flaws of the initiative. It then proceeds with necessary improvements for an efficient debt reduction programme, possible modifications for a revised HIPC initiative, and some suggestions on how to overcome financing constraints. Apart from being in several respects unfair, the current framework is unlikely to permit a lasting exit from unsustainable debt for many HIPCs, and may lead to a decline in traditional development assistance.     

Accommodation,empowerment and disinvestment—Typical second-language learning trajectories of Syrian refugees in Germany

This paper asks how refugees' second-language learning processes are embedded in their lives in host countries. To address this question, the paper proposes the concept of second-language learning trajectories. These trajectories explain refugees' second-language learning as closely intertwined with learners' self-understanding, experiences and positioning in host countries. Using longitudinal narrative interview data from Syrian refugees in Germany, the paper identifies three different types of second-language learning trajectories, that is empowerment, accommodation and disinvestment. These trajectories have vastly diverse outcomes, not only in terms of second-language proficiency but also in terms of learning motivation, self-views and future prospects. Moreover, second-language learning trajectories evolve based on self-reinforcing dynamics that make switching between trajectories increasingly difficult over time. This is particularly detrimental to refugees on the disinvestment trajectory, which entails social decline and exclusion. The paper also identifies institutional regulations in Germany that compound refugees' struggles to gain a foothold in their host country.     

Transnationalizing Families: Canadian Immigration Policy and the Spatial Fragmentation of Care‐giving among Latin American Newcomers1

Complex factors associated with migration and immigration policies contribute to the dispersion of families across space. We draw on interviews with 40 Latin American women in Toronto who experienced separation from children as a result of migration and argue that Canadian immigration policy and elements of the women’s context of departure lead to the systemic production of transnational family arrangements. Once in Canada, the women dealt with unexpected lengths of separation, the spatial dispersal of social reproduction, and post‐reunification problems. The absence of a normative framework that could help the mothers make sense of family dispersal meant that their experiences of migration, family separation, reunification and settlement were marked by tension, guilt, isolation and shame.     

Examining the Structural Relationships Among Gambling Motivation,Passion, and Consequences of Internet Sports Betting

The rise in popularity of Internet gambling has led to new gambling controversies among researchers and policymakers alike. Opponents frequently point to the negative impacts of problem gambling, while advocates tend to view this form of gambling as relatively harmless and convenient entertainment for the vast majority of participants. Interestingly, in making their points, both sides cite empirical arguments about passion for the gambling act—with opponents arguing that Internet gambling enables unhealthy obsessions, and advocates pointing to the apparent intensive interest of large numbers of Internet players. As it turns out, both sides may have a point. In this paper, we examine whether types of passion were related to types of motivation and consequences. The data were collected through a sample from an online gambling website in South Korea. We rely upon Rousseau et al.’s (J Gambl Stud 18(1):45–66, 2002) seminal work on positive and negative aspects of passion, and in the process we develop a framework for understanding positive and negative consequences of this form of gambling. The results reveal that intrinsic gambling motivations (e.g., gambling for excitement) is related to harmonious passion, which in turn results in positive consequences. Meanwhile, extrinsic gambling motivations (e.g., money) is related to obsessive passion, which in turn results in negative consequences.     

Intraday futures patterns and volume–volatility relationships: the German evidence

This paper examines the intraday behavior of 5-min DAX futures return volatility, volume and transactions, employing data from between January 1999 and September 2011, thus covering major market up and down trends. We focus on the interplay of the above variables finding a W-shape due to US macroeconomic news releases and the opening of US markets. By carefully modeling regular but infrequent events, we show that the last trading days of the FDAX and ODAX have significant impact on volatility and alter the intraday patterns. Additionally, we pay special attention to interactions between the futures and cash market caused by different trading hours at the Eurex. Thereby, we discover a uW-shape lending support for Daigler’s (J Futures Markets 17:45–74, 1997) extended market closure theory. Focusing on possible changes in the interplay of volume and volatility, we empirically analyze the implications of different volume–volatility theories. Finally, we model simultaneously the main volatility components—intraday calendar effects, macroeconomic announcement effects and interday volatility clustering—employing the framework of Andersen and Bollerslev (J Finance 53:219–265, 1998) to quantify and compare the impact of macroeconomic news announcements during contractions and expansions and focus on the economic impact of the crisis 2007/2008 on intraday volatility.