Is it All About Money? – Affective Commitment and the Difference Between Family and Non‐family Sellers in Buyouts

In this paper we investigate private equity firm perceptions of sellers’ affective deal commitment in buyout transactions. Using a sample of 174 buyouts, we test trust, goal congruence and private equity reputation as potential antecedents of perceived deal commitment. We also examine whether and how different types of sellers, family versus non‐family firms, moderate sources of perceived affective deal commitment. In sum, we find evidence that non‐financial factors play a role in buyouts, particularly for family firm sellers.     

The Frustrating Effects of Just Missing the Jackpot: Slot Machine Near-Misses Trigger Large Skin Conductance Responses, But No Post-reinforcement Pauses

Near-misses in slot machines resemble jackpot wins but fall just short. Previous research has demonstrated that near-misses are behaviorally reinforcing despite the absence of monetary reward. We assessed the hedonic properties of near-misses by measuring the time between outcome delivery and the initiation of the next spin—the post-reinforcement pause (PRP) and skin conductance responses (SCRs) for losses, near-misses, and a range of wins (5, 15, 25, 50 or 250 credits) while participants (N = 122) played a slot machine simulator. PRPs and SCRs were compared for 40 low frequency and 22 high frequency slots players who were non-problem gamblers, 37 at risk players, and 23 problem gamblers. For winning outcomes, PRPs and SCRs tracked monotonically with win size such that progressively larger wins were associated with progressively larger PRPs and SCRs. Near-misses with jackpot symbols landing on the first two reels had significantly larger SCRs than regular losses, and other types of near misses. Crucially, PRPs for this kind of near-miss were significantly smaller than all wins, and when non-parametric statistics were used, significantly smaller than regular losses. This pattern of large SCRs and small PRPs suggest that these are highly frustrating outcomes that stimulate appetitive components of the reward system to promote continued gambling.     

Microcredit Self-Help Groups for Widowed and Abandoned Women in South India: Do They Help?

ABSTRACT

Results are presented from a study on a microcredit program with self-help groups implemented for widowed and abandoned women in Tamil Nadu shortly after the Indian Ocean Tsunami. Data were collected from 109 participants measuring the women's investment patterns, loan amounts, demographics, and overall well-being (psychological, economic, communal, and familial). Results indicate that loan amounts and investment patterns were not significantly related to the women's well-being. Length of group participation and having children were negatively related to the women's well-being. These findings are discussed in relation to social and cultural contexts. Suggestions for programs for this population of vulnerable women and other marginalized groups are proposed.