How does consumer age affect the desire for new products and brands? A multi-group causal analysis

Marketing lacks comprehension on the increasingly important segment of mature consumers in regard to their behavior and respective reasons for certain behavior. This study on the desire for alternative products or brands within the domain of fast moving consumer goods was capable of verifying differences among age-groups. While the keenness for cross-buying increases with age, the desire for switching to other familiar brands than the one usually purchased, and the desire for switching to new brand alternatives decrease with age; Thus indicating age-patterns in product category-specific innovativeness and variety seeking. The study also considers a wide range of behavioral determinants such as product satisfaction, product involvement, category experience, perceived purchase risk etc. mediating the effect of age on these desires, giving a fairly good picture of the unveiled causes for the age group differences. Furthermore, the issue of age potentially operating as a moderating variable on the effects of the behavioral determinants on the desires for product and brand alternatives found consideration in this study, but was proven to be of marginal relevance.     

Getting tuned in to those who are different: The role of empathy as mediator between diversity and performance

We present a theoretical model on the processes that mediate and moderate the diversity-performance relationship. Past research on this topic—for example the categorization elaboration model (van Knippenberg et al. 2004)—has often focused on information elaboration as mediator. Complementing this cognitive perspective, we propose that group diversity can also stimulate group members to engage with each other emotionally, resulting in higher levels of empathy—an emotional state which arises from the comprehension and apprehension of fellow group members’ emotional state. Empathy, in turn, is likely to enhance performance through processes within a single group member and through processes between group members. At the core of the model lies the proposition that group- as well as individual-level empathy mediate the relationship between diversity of organizational units and the performance of individual members and groups at large (multilevel mediation). Furthermore, we specify moderating conditions for the relationship between diversity and empathy. Diversity beliefs and diversity climates are introduced as second-order moderators.     

Dividend yield and stability versus performance on the German stock market: a descriptive study

It is often examined in the literature whether the dividend yields of stocks correlate with their total returns. This paper analyzes the effect of dividend yield on return as well as on risk and on performance of stocks and stock portfolios on the German market. Not only the influence of dividend yield but also of dividend stability is subject to our analysis. Furthermore, tax aspects are considered. However, this study should rather be seen as an empirical analysis of the influence of dividends as a capital market anomaly than a theoretical based validation approach. Our data set comprises daily adjusted stock prices and dividend payment data from the German capital market over the period 3 January 2000–31 July 2008. This period was characterized by a high volatility of the stock market. In addition to the existing literature examining mainly the long-term influence of dividend yields, we also want to find out whether stocks with high and stable dividend payments are able to reduce the risk of a stock investment in short time periods characterized by extreme conditions. We use blue chips (DAX), stocks of medium-sized companies (MDAX), and stocks of technology firms (TecDAX). Our findings suggest that stock performance generally improves with an increasing dividend yield, where this result is actually based on risk reduction instead of a higher return. However, this risk reduction diminishes with an increasing degree of diversification.     

An axiomatic approach to predictability of outcomes in an interactive setting

This article is an axiomatic approach to the problem of ranking game forms in terms of the predictability they offer to individuals. Two criteria are proposed and characterized, the CardMin and the CardMax. Both compare game forms on the basis of the number of distinct outcomes that can result from the choice of a CardMin (resp. CardMax) strategy. The CardMin (resp. CardMax) strategy is defined as a strategy leading to the smallest (resp. highest) number of different outcomes. In both cases, the lower these numbers the better the game form.     

Organisationsentwicklung in M&A Prozessen

Technical issues like legal matters or different types of due diligence predominate during the execution of mergers and acquisitions. Personnel issues only get considered during the post-merger integration phase. However, the success of mergers and acquisitions depends considerably on the early and correct involvement of the human resource and organization development (OD) department in every phase of the merger.     

Promoting object constancy. Writing as a nursing intervention

1. Object constancy is an important developmental milestone that many psychiatric patients have not achieved. 2. Asking patients to write down thoughts and feelings will assist the nurse in reinforcing a continuous experience of self as a necessary antecedent to self and object constancy. 3. Object constancy allows the patient to be more autonomous in relationships. Writing will help the patient become more independent in managing thoughts and feelings. 4. Using an object relations framework for this commonly prescribed nursing intervention will assist nurses in providing a focus and goal for the use of writing.     

A consistency result in general censoring models

In this paper we prove a consistency result for sieved maximum likelihood estimators of the density in general random censoring models with covariates. The proof is based on the method of functional estimation. The estimation error is decomposed in a deterministic approximation error and the stochastic estimation error. The main part of the proof is to establish a uniform law of large numbers for the conditional log-likelihood functional, by using results and techniques from empirical process theory.     

Quality of experience in residential care programmes: Retrospective perspectives of former youth participants

This exploratory study examined perceptions of care quality within parent‐pay youth treatment programmes such as therapeutic boarding schools, residential treatment centres, wilderness therapy programmes, and intensive outpatient programmes. Reflecting on their personal experiences as youths, 214 adults reported on a total of 75 different treatment settings. Two indices developed for this study measured participants' perceptions of quality of experience and the totalistic programme characteristics of their care settings. Regression analyses and ANOVA tests of means indicated a negative relationship between totalistic programme characteristics and quality of experience index scores. Significant relationships were not found between quality of experience and forcible transport, intake decade, or the amount of time in treatment.     

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.