Venture capital and risk perception

This study extends the current state of research on venture capital (VC) determinants by introducing a behavioral perspective. We focus on individuals’ risk perception and connect it to Hofstede’s cultural dimensions of individualism and uncertainty avoidance. Individualism is related to overoptimism and uncertainty avoidance is related to overcaution, and hence affect the perception of risk. In a cross-country empirical analysis with 49 countries, we find that individualism is positively associated with VC activity, whereas uncertainty avoidance is negatively associated with VC activity. Our results are robust to controlling for other determinants as well as using other proxies of VC activity, other time periods, and subsamples of countries.     

A Cross-National Perspective on Unemployment and First Births

This article investigates the impact of unemployment on the likelihood of having a first child. Using micro-data from the European Community Household Panel, I apply event history methods to analyze first-birth decisions in France, West Germany, and the UK (1994?C2001). The results highlight weak negative effects of unemployment on family formation among men, which can be attributed to the inability to financially support a family. Among women, unemployment exerts a positive effect on the propensity to have a first child in Germany and the UK, where institutional settings aggravate work?Cfamily conflicts. Unemployment increases the likelihood of family formation among women with a moderate or low level of education. This does not, however, generally apply to French women or to highly educated women in Germany and the UK, who, when unemployed, favor a quick return to work over motherhood.     

Training für ein Leben mit Vielfalt?

Training for a life in multiplicity. The competence of trainers in intercultural settings Training in intercultural skills is often requested in social and administrative organizations and institutions. Since up to now an education for intercultural trainers analogous to traditional training in psycho-social skills doesn’t exist, the author discusses the standards of quality which are generally applied in measuring the professional competence of psychosocial trainers and which standards should be applied to those offering intercultural trainings.     

Seeking useful contribution

This short communication is an attempt to define useful contribution in statistical consulting and to connect it to a collection of favorable attitudes and skills. It stresses the need for adequate education of beginning statisticians to render them capable of contributing effectively to society, business, and research. The communication ends with a list of related articles and publications.     

Monitoring correlated processes with binomial marginals

Few approaches for monitoring autocorrelated attribute data have been proposed in the literature. If the marginal process distribution is binomial, then the binomial AR(1) model as a realistic and well-interpretable process model may be adequate. Based on known and newly derived statistical properties of this model, we shall develop approaches to monitor a binomial AR(1) process, and investigate their performance in a simulation study. A case study demonstrates the applicability of the binomial AR(1) model and of the proposed control charts to problems from statistical process control.