Determinants of voluntary CSR disclosure: empirical evidence from Germany

Currently, companies spend a great deal of effort on Corporate Social Responsibility (CSR) disclosures. CSR disclosure relates to the provision of information on companies’ environmental and social performance. From an economic perspective, companies might disclose this information to avoid or decrease potential political costs. We construct a CSR disclosure index based on the Global Reporting Initiative (GRI) guidelines. Using content analysis, we analyze 130 listed German companies’ CSR disclosures (470 firm-year observations) to investigate the determinants of these voluntary disclosure activities. Our results show that, consistent with the political cost theory, German companies’ disclosures of all CSR issues are affected by their visibility, shareholder structure, and relationship with their US stakeholders. In addition, higher profitability is associated with more environmental disclosures. Finally, size and industry membership affect the amount of CSR disclosure.     

„Lola rennt“ oder: „es hätte auch anders kommen können“ – Über den Möglichkeitsraum gruppendynamischer Intervention

A group of eight Trainers for Groupdynamic analyzed their interventions as trainers of Sensitivity-Groups during the last seven years. They used the methodological approach of Sequential Analysis and the model of the groupdynamic space (Amann, Gruppenprozesse verste-hen, 2001, S. 28). This model combines the three elementary polarities shaping the dynamic in T-Groups: belonging (in or out), power (up or down) and nearness (near or far) and supposes that these three polarities form a kind of dynamical “group-space” in which the three dimensions are simultaneously effective. Thus this model avoids a hydraulic understanding of group processes. Taking into account the model of groupdynamical space the group analyzed Trainer-interventions and asked which alternative intervention could have been possible to underline another dimension of the space. In the analysis of interventions they pointed out which of the three dimensions the trainer-intervention was focussing, which consequences this decision had for the group-process and they asked hypothetically which effects another strategy of intervention could have had. Every intervention is the consequence of a particular interpretation of the current group situation. And each decision could have been taken differently by bringing the attention towards another dimension of the groupdynamical space. This is the core-idea of this essay. Years ago a german movie was released with the title “Lola rennt” and it showed three variations of one moment with three entirely different show downs. This idea inspired us to choose the same titel for our reflections about the practice and richness of groupdynamical interventions. This essay is meant as a contribution to a “second order Groupdynamic” which is interested more in the way trainers perceive group processes than in the theory of the group-process itself.     

Getting better or getting worse? Consumer responses to decreasing, constant, and ascending multi-dimensional price profiles

This research investigates consumer preferences for different multi-dimensional price profiles. Drawing on research on price affect, we investigate whether consumers prefer descending monthly installments (e.g., 40, 30, 20, 10) over constant (e.g., 25, 25, 25, 25), or ascending ones (e.g., 10, 20, 30, 40). Results of a field experiment with a sample of 1,628 German car buyers corroborate the hypothesized profile effect. In the experiment, participants were asked to evaluate different finance offers for a new car that all had the same present value but differed in terms of how the installments unfolded over time. Consistent with the hypotheses, decreasing monthly installments are evaluated more favorably than constant installments, which, in turn are evaluated more favorably than ascending installments. Furthermore, the results provide evidence for the underlying process by showing that the impact of different MDP profiles is mediated by positive affect. Finally, it was hypothesized that consumers’ individual differences (i.e., debt aversion, financial expectations, and product category knowledge) would exert a moderating influence on evaluations of different price profiles; these hypotheses, however, were only partially confirmed. Theoretical and managerial implications are discussed.     

Parenthood and Quality of Life in Old Age: The Role of Individual Resources,the Welfare State and the Economy

Although the notion of ‘Social Europe’ can refer to different principles and policy options, most research narrows down attitudes towards Social Europe to a unidimensional construct. In this study, we instead propose a multi-dimensional approach, and contribute to the literature in three ways. First, we elaborate the notion of ‘Social Europe’ conceptually, and distinguish between the decision-making level for social policy, European social citizenship, harmonization, member-state solidarity and interpersonal solidarity. Second, analysing the 2014 Belgian National Election Study by means of confirmatory factor analysis we evidence that citizens indeed have distinct attitudes towards the policy principles and instruments of Social Europe. Although these attitudinal dimensions are interrelated, they cannot be reduced to a single Social Europe factor, meaning that citizens differentiate in their attitudes between various aspects of Social Europe. In addition, our research indicates that member-state solidarity is the primary aspect of Social Europe in public opinion, whereas the feature that has received most scholarly attention in empirical research to date—the preferred decision-making level for social policy—cannot be considered as a key component of attitudes towards Social Europe. Third, we investigate whether citizens with different educational levels conceptualize Social Europe similarly using multigroup confirmatory factor analysis. Results indicate that the attitudinal factor structure of Social Europe is largely equivalent among lower and higher-educated citizens.     

Geschlecht und Schulerfolg: Ein soziales Stratifikationsmuster kehrt sich um

In this paper, we seek to identify factors that account for the declining school performance of boys and young men. After reviewing and analysing the international literature on gender and education, we integrate various explanatory approaches into a model that is rooted in the theory of socialisation. The model focuses on the developmental tasks which young men face during adolescence. Our central thesis is that the declining school performance of young men cannot be fully explained by their failure to cope with educational challenges, i.e., their problems with respect to the developmental task “qualification”. Rather, a comprehensive explanation requires the incorporation of three other central developmental tasks, “social attachments”, “regeneration”, and “participation”. In the last decades, it has become easier for young women to cope with these tasks than it is for young men. Thus a rare sociological incident has occurred: the reversal of centuries-old pattern of social stratification. Nowadays, young women and not young men acquire the privileged certificates offered by the educational system, and it is them who gain the more promising career prospects. Our thesis can be supported with data from a broad range of international studies. The crucial implication is that supporting young men at school will show only limited results. Rather, to improve the school performance of young men, it is also necessary to address their deficits in coping with the other aforementioned developmental tasks, all of which point to challenges that young people are expected to master in today's individualised, achievement-oriented society.     

Smith and Rawls share a room: stability and medians

We consider one-to-one, one-sided matching (roommate) problems in which agents can either be matched as pairs or remain single. We introduce a so-called bi-choice graph for each pair of stable matchings and characterize its structure. Exploiting this structure we obtain as a corollary the “lone wolf” theorem and a decomposability result. The latter result together with transitivity of blocking leads to an elementary proof of the so-called stable median matching theorem, showing how the often incompatible concepts of stability (represented by the political economist Adam Smith) and fairness (represented by the political philosopher John Rawls) can be reconciled for roommate problems. Finally, we extend our results to two-sided matching problems.     

Solidarität

Which socio-psychological terms are connected with the term “solidarity”? Solidarity is understood as a specific attitude and quality of relationships between individuals in groups and organizations and on the level of society. A disturbed balance between “self-enhancement” and “self-transcendence” caused by socio-cultural developments diminishes solidarity. The questions that are considered and discussed, are the following: Under which conditions does solidarity arise, which conditions in groups allow individuals to learn about solidarity, do current organizational structures affect the well tried forms of organized solidarity and how does empowerment conflict with the balance of power in society?     

DIVIDEND POLICY IN REGULATED NETWORK INDUSTRIES: EVIDENCE FROM THE EU

We study the dividend policy of firms in regulated network industries, focusing on the impact of different regulatory regimes and government control. We link payout and smoothing decisions to different regulatory mechanisms (cost‐based vs. incentive regulation) and state versus private ownership. We test our predictions on a panel of listed European electric utilities, accounting for potential endogeneity of the choice of regulatory and ownership patterns. We find that incentive‐regulated firms smooth their dividends less than cost‐based regulated firms and that they report higher target payout ratios. Consistent with the interest group theory of regulation, we find that incentive regulation schemes are less likely when the state is still an important shareholder in the sector. Additionally, our results show that government control undermines the efficiency‐enhancing effects of incentive regulation on dividend policy, for example, lower smoothing is only due to private firms. (JEL G35, L51, L32, L9)