Ownership structure,investors’ protection and corporate valuation: the effect of judicial system efficiency in family and non-family firms

Research on the effect of ownership structure on firm performance shows no convergent evidence concerning the sign and form of the above-mentioned relationship. Similarly, there is no homogeneous evidence documenting family ownership concentration is always positively or negatively correlated with firm value, or irrelevant. This paper analyses whether and how the de facto investor protection provided by the judicial system affects the relationship between corporate performance and ownership structure in 1314 firms operating in four European countries (Germany, France, Italy, and Spain) over a five-year period, 2010–2014. Moreover, we analyse whether judicial system efficiency influences if and how family firms in the controlling coalition collude for expropriating minority shareholders. Our findings show that the level of shareholder protection, derived from judicial efficiency, is relevant to the relationship between ownership structure and firm performance, thus corroborating literature in that institutional contexts matter in explaining such relations. The results suggest the need for more efficient external mechanisms of corporate governance to facilitate investment in equity capital, thus decreasing the country risk perceived by investors.     

Control or Autonomy? A Case Study of two Organizational Forms in the Zhangjiakou Internal Migrant Organization

Control often weakens autonomy in organizational theories. While many scholars focus on the paradox of control and autonomy, few pay attention to how an organization obtains both control and autonomy. By exploring Zhangjiakou Internal Immigrant Organization, this study finds two mechanisms can contribute to the balanced combination of control and autonomy. First, managers play ambidextrous official-merchant roles, which means superiors take both bureaucratic and autonomous management styles. Second, members have dual organizational goals for both political status and network support. In conclusion, the successful combination is shaped by the subjective interaction between the government, superior managers and subordinate members.     

The neglected mediating role of self-efficacy in the goal setting process in local public administrations

To analyse the role of self-efficacy in goal setting in public administrations, this study combines goal-setting theory, public service motivation literature and cognitive theory. Using partial least squares structural equation modelling (PLS-SEM), survey data from 105 German civil servants are analysed. The results underline the role of goal setting (represented by goal difficulty and specificity) in determining the self-efficacy of public servants. Public service motivation and goal specificity both increase public servants’ work performance; however, the effects of goal difficulty are negatively mediated by the employee’s self-efficacy. That finding reflects the central role of self-efficacy, which should not be ignored in the goal-setting processes of public administrations.     

Fibonacci helps to evacuate from a convex region in a grid network

This study considers an evacuation problem where the evacuees try to escape to the boundary of an affected area, which is convex, and a grid network is embedded in the area. The boundary is unknown to the evacuees and we propose an online evacuation strategy based on the Fibonacci sequence. This strategy is proved to have a competitive ratio of 19.5, which is better than the best previously reported result of 21.     

Bounds for the traveling salesman paths of two-dimensional modular lattices

We present tight upper and lower bounds for the traveling salesman path through the points of two-dimensional modular lattices. We use these results to bound the traveling salesman path of two-dimensional Kronecker point sets. Our results rely on earlier work on shortest vectors in lattices as well as on the strong convergence of Jacobi–Perron type algorithms.     

Optimal RSUs deployment with delay bound along highways in VANET

In order to broadcast an alert message from the accident site to the control center as soon as possible, the roadside units (RSUs) act as the critical component in vehicular ad hoc networks (VANETs). It is not possible to make a pervasive RSU deployment due to the huge cost and market requirement. Hence, how to deploy a minimum number of RSUs in a given region becomes a challenge problem. In this paper, we present an analysis for the total delay of broadcasting alert messages in VANETs along highways. Based on the analysis, the relationship between optimal number of RSUs with the highway distance is given. Moreover, the experiment results verifies the delay analysis and the optimization of RSUs deployment.     

Handling precedence constraints in scheduling problems by the sequence pair representation

In this paper, we show that sequence pair (SP) representation, primarily applied to the rectangle packing problems appearing in the VLSI industry, can be a solution representation of precedence constrained scheduling. We present three interpretations of sequence pair, which differ in complexity of schedule evaluation and size of a corresponding solution space. For each interpretation we construct an incremental precedence constrained SP neighborhood evaluation algorithm, computing feasibility of each solution in the insert neighborhood in an amortized constant time per examined solution, and prove the connectivity property of the considered neighborhoods. To compare proposed interpretations of SP, we construct heuristic and metaheuristic algorithms for the multiprocessor job scheduling problem, and verify their efficiency in the numerical experiment.     

Systemisch – was denn sonst!

This essay deals critically with the use of the term “systemic”. Initially three basic system-theoretical concepts used in consulting and counseling are introduced: the problem of complexity, the construction of realities and the paradigm of functionality. Subsequently, the author demonstrates, that these principles have always been integral components of the most early pedagogical/psychological consulting practices. The addition of the term “systemic” is thus often superfluous and misleading.     

4-Evening-Questions: Eine einfache Technik mit tiefgreifender Wirkung

The effect of a positive day reflection as a technique of positive psychology has been found repeatedly. The qualitative study is based on a sample of 74 participants and shows which kind of experiences people make during and after this exercise. For this purpose, participants were instructed to reflect their day based on four specific questions (4-Evening-Questions) every evening over a period of two weeks. Subsequently, individual experiences were collected and analyzed qualitatively. The results show that the exercise leads to a sensitization of perception, a change in the interpretation of situations as well as in one’s own actions.     

Organisationskultur im Spielfilm

By analyzing cinema films, specific organizational cultures can be illustrated. The culture of prison as a “total institution” is explained on the basis of the movie “The Shawshank Redemption” (1994). With regard to the developing friendship between the former banker Andy Dufresne who is innocently convicted and the homicide delinquent Ellis Boyd Redding typical characteristics of a total institution are pointed out. Furthermore, the psychological function those characteristics serve for employees, inmates and even for the society as a whole is analyzed. Central to this interpretation is thinking of the prison as a father substitute. Many interactions become comprehensible viewed in this context. Additionally, the prison represents a huge object of projection which facilitates the collective release of aggression.