Kulturwandel im Geldgeschäft? Potenziale einer ethischen Selbsterneuerung im Banken- und Finanzwesen

Following the financial crisis in 2008 a debate about the social benefit of the financial industry, which operates without considering its real-economic consequences, was initiated. The financial industry responded by offering strategies of cultural change (“Kulturwandel”) which foster a more socially responsible financial practice. At the same time the expansion of “ethical” banks aims to establish a banking business avoiding negative externalities of the banking sector. Following the conceptual assumptions of the sociology of critique we study the collectively shared interpretation of a “good” and legitimate financial practice beyond publicly communicated standards of practice. Against this backdrop we evaluate the potentials of normative self-regulation in banking and finance. Our results show that cultural or ethical change is only partly feasible if it exclusively focuses the motives, values and personalities of the individual subjects but neglects the structural as well as institutional conditions of a “good” financial practice.     

Choice of the ridge factor from the correlation matrix determinant

Ridge regression is the alternative method to ordinary least squares, which is mostly applied when a multiple linear regression model presents a worrying degree of collinearity. A relevant topic in ridge regression is the selection of the ridge parameter, and different proposals have been presented in the scientific literature. Since the ridge estimator is biased, its estimation is normally based on the calculation of the mean square error (MSE) without considering (to the best of our knowledge) whether the proposed value for the ridge parameter really mitigates the collinearity. With this goal and different simulations, this paper proposes to estimate the ridge parameter from the determinant of the matrix of correlation of the data, which verifies that the variance inflation factor (VIF) is lower than the traditionally established threshold. The possible relation between the VIF and the determinant of the matrix of correlation is also analysed. Finally, the contribution is illustrated with three real examples.     

Leadership behaviour and leader self-reported well-being: A review,integration and meta-analytic examination

ABSTRACT

While the link between leadership and follower well-being is well established, less is known about the relation between leaders’ leadership behaviour and their own well-being. Particularly, a systematic integration of existing studies is missing. Based on an integrated framework summarising major theories on the leader well-being–leadership link, we quantitatively synthesised findings on the relations between different leadership behaviours and leader well-being indicators. The meta-analytical results (95 effect sizes; N?=?12,617) confirmed significant relationships of constructive and destructive leadership with leader well-being in the expected directions. Relative weight analyses on the constructive leadership behaviours showed that change-oriented and relational-oriented leadership (e.g. transformational, participative) accounted for more variance in leader well-being than task-oriented leadership (e.g. transactional). Regarding destructive leadership, active destructive leadership (e.g. abusive supervision) showed stronger negative associations with leader well-being than passive leadership (e.g. laissez-faire). Based on our integrated framework, we proposed and found support for divergent patterns of associations for different forms of well-being (positive vs. negative, short-term vs. long-term, job-related vs. general). Our study demonstrates a considerable linkage between leader well-being and leadership, supporting the adoption of leadership development programmes and organisational health interventions for leaders given their impact on employees, teams and organisations.     

Comparing three alternative types of employment with permanent full-time work: How do employment contract and perceived job conditions relate to health complaints?

Previous research has found that alternative employment arrangements are associated with both impaired and improved well-being. Since such inconsistencies are likely to derive from the type of employment contract as well as the characteristics of the job, this paper compares permanent full-time work with forms of alternative employment (permanent part-time, fixed-term and on-call work) in order to investigate how different employment contracts and perceptions of job conditions relate to individual well-being. This study contributes to the literature by addressing several questions. Different forms of alternative employment are distinguished and individual background characteristics that might be intertwined with the employment contract are controlled for. Moreover, the scope of this study extends to the effects of perceived job conditions, and possible interactive effects with type of employment are tested. Analyses of questionnaire data from 954 Swedish healthcare workers show that perceptions of the job (job insecurity, job control and demands), but not the type of employment contract, predicted health complaints. However, type of employment interacted with perceptions of job insecurity, in that insecurity was associated with impaired well-being among permanent full-time workers, while no relationship was found for on-call or core part-time employees. Despite the absence of interactions between employment contract and job demands or job control, it can be concluded that knowledge about the relationship between alternative employment arrangements and the well-being of workers can be enhanced when the combined effects of employment contract and job conditions are studied.     

Subclinical Psychopathic Traits and Romantic Attachment in Treatment-Seeking Couples

Subclinical psychopathic personality traits have been associated with multiple indicators of couple distress and romantic attachment insecurities but essentially in community samples. This study examined dyadic associations between primary and secondary psychopathy and attachment anxiety and avoidance, assessed with self-reported measures, in 183 French-Canadian cohabiting partners seeking couple therapy. Two Actor-Partner Interdependence Models were tested: Model 1 considered psychopathic traits as independent variables and Model 2 treated attachment insecurities as independent variables. Analyses revealed that in both partners, secondary psychopathy was associated with attachment anxiety and avoidance (Models 1 and 2), while primary psychopathy was not only associated with attachment anxiety (Model 2; actor associations). Partner effects between primary and secondary psychopathy in men and women's attachment anxiety were also found in both models. These findings complement those reported in community samples and have clinical implications for treatment-seeking couples.     

Model determination for categorical data with factor level merging

Summary.  We deal with contingency table data that are used to examine the relationships between a set of categorical variables or factors. We assume that such relationships can be adequately described by the cond`itional independence structure that is imposed by an undirected graphical model. If the contingency table is large, a desirable simplified interpretation can be achieved by combining some categories, or levels, of the factors. We introduce conditions under which such an operation does not alter the Markov properties of the graph. Implementation of these conditions leads to Bayesian model uncertainty procedures based on reversible jump Markov chain Monte Carlo methods. The methodology is illustrated on a 2×3×4 and up to a 4×5×5×2×2 contingency table.