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.     

Social representations of the euro in Austria

In summer 1997, a survey on attitudes and social representations of the single European currency was conducted in Austria on a sample of 534 respondents. Participants were asked to fill out a questionnaire on economic expectations and psychological aspects relating to the change of the national currencies to the single European currency. In addition to the standard questionnaire distributed in all 15 EU member states (Müller-Peters et al., 1998. Explaining attitudes towards the cure. Design of a cross-national study. Journal of Economic Psychology 19, 663–680), subjects in Austria were asked to indicate what they freely associated with the term “European single currency” and to evaluate their own associations. On the basis of individuals' attitudes towards the euro, the total sample was divided into five sub-samples of (a) strong opponents of the euro, (b) moderate opponents, (c) neutral or indifferent respondents, (d) moderate supporters, and (e) strong supporters. Social representations of these sub-samples were then analysed. Firstly, frequencies of associations within the five groups were investigated by correspondence analysis. It was found that opponents associated mainly negative feelings with the euro, thinking of currency instability and financial losses in conjunction with it. Moreover, strong euro opponents feared a loss of national autonomy and the unjust distribution of EU-related benefits and costs. Supporters, on the other hand, most frequently mentioned the facilitation of tourism and trading opportunities. Comparability of prices and incomes across Europe and the stimulation of the national economy were other frequently mentioned positive consequences. Secondly, sequences of associations were analysed. Four groups showed a tendency to more extreme emotions, that is, positive or negative, at the beginning of the association process with a shift towards neutral associations after their initial associations. The belief in a stronger European identity and a threat to Austrian identity, respectively, proved to be a relevant cause for subjective support of or opposition to the euro. Moderate opposition seems to be related to anticipated financial restrictions, both at the individual and the national level.     

An Explanation of the Educational Structure of Occupations

Abstract. This article sets out to disclose the factors underlying the development of the educational structure of occupations. The shares of educational classes in the employment of occupations in economic sectors are taken as points of departure. The explanatory variables are technological progress and substitution processes generated by shifts in the skill structure of labour supply. For each educational class, an estimation is made with the help of a linear model, the estimation being that of Weighted Least Squares.     

Setting Incentives: Temporary Performance Premiums versus Promotion Tournaments

Abstract. Two alternative relative compensation schemes are compared with respect to the output that can be generated at a given sum of salaries. While the promotion regime guarantees that any salary increase is permanent, the premium system allows a reduction in the income of an agent to the base salary after one period. It is shown that the optimum promotion tournament system induces a higher total output than the optimum premium system. This result is obtained because a promotion regime allows a distortion in a contest in favor of winners of previous contests.     

In search for the ideal coopetition partner: an experimental study

Coopetition (collaboration between competitors) has the potential to provide major benefits or losses to participating firms. Entering a partnership with a competitor is a strategic decision with potential long-term consequences rendering the choice of partner of key importance. Existing research has investigated partner’s strategic attributes, but not how the inter-organizational factors between coopetiting firms affect partner selection and on which layers those effects occur. We use a vignette study for reducing this gap, representing the first experimental study on the field of coopetition research. The results from our study from 874 evaluations of potential coopetition partnerships by key informants from Austria, Germany, Liechtenstein and Switzerland offer insights into how the possible partner’s role, resource alignment and the planned activity affect partner selection. The findings suggest that the partner’s role in the markets—i.e. whether it is a direct or an indirect competitor—is critical in partner selection. The planned activity and resource configuration is also found to influence the evaluation of possible coopetition partners. Overall, the results of this first experimental study in coopetition research provide important implications to both theory and practice.     

Young Adult Relationship Values at the Intersection of Gender and Sexuality

Recent decades have brought significant social changes in the industrialized West that may influence young adults' attitudes about intimate relationships, including changes in gender expectations and behaviors and changes in sexual attitudes and practices. We used data from the National Longitudinal Study of Adolescent Health (N = 14,121) to compare men to women and sexual minorities to heterosexuals on ratings of the importance of love, faithfulness, commitment, financial security, and racial homogamy for successful relationships. We found that nearly all young adults adhere to dominant relationship values inherent in the romantic love ideology; we found, however, modest but significant differences by gender and sexual identity in relationship values. Significant interactions demonstrated that gender and sexual identity intersect to uniquely influence relationship views.     

Endangering one’s health to improve performance?

Background: Companies are increasingly applying both goal- and performance-oriented leadership practices. For employees, such indirect control practices make higher self-regulatory demands: They become responsible for their work outcomes and have to bear the consequences of failure just like the self-employed. The current study focuses on the concept of “self-endangering work behaviors” as representing a possible negative effect of indirect control and a possible mediator between work demands and negative outcomes. Method: An online survey was conducted with 607 employees, who reported to work in an indirect control setting. It assessed extension of working hours, intensification of working hours, sickness presenteeism, and faking as possible self-endangering work behaviors together with exhaustion as a subjective well-being measure. The lavaan package was used to test the mediation hypothesis with a structural equation model. Results: Results supported the assumption that self-endangering work behaviors might partly explain the association between work demands and exhaustion. A mediation effect was found for extension of working hours, intensification of working hours, and for faking. However, sickness presenteeism delivered no statistically significant mediation effect in the association between work demands and exhaustion. Discussion: As a mechanism for coping with high work demands, the new concept of self-endangering work behaviors offers one possible explanation for the negative association between high work demands and both subjective well-being and health. The concept needs to be addressed in occupational health prevention initiatives. Such interventions should balance the negative and positive effects of indirect control and take self-endangering work behavior into account.     

The <Emphasis Type="Italic">k</Emphasis>-metric dimension

The anti-Ramsey number AR(G, H) is defined to be the maximum number of colors in an edge coloring of G which doesn’t contain any rainbow subgraphs isomorphic to H. It is clear that there is an \(AR(K_{m,n},kK_2)\)-edge-coloring of \(K_{m,n}\) that doesn’t contain any rainbow \(kK_2\). In this paper, we show the uniqueness of this kind of \(AR(K_{m,n},kK_2)\)-edge-coloring of \(K_{m,n}\).