Estimation of a linear model under microaggregation by individual ranking

Summary Microaggregation by individual ranking is one of themost commonly applied disclosure control techniques for continuous microdata. The paper studies the effect of microaggregation by individual ranking on the least squares estimation of a multiple linear regression model. It is shown that the traditional least squares estimates are asymptotically unbiased. Moreover, the least squares estimates asymptotically have the same variances as the least squares estimates based on the original (non-aggregated) data. Thus, asymptotically, microaggregation by individual ranking does not result in a loss of efficiency in the least squares estimation of a multiple linear regression model. I thank Hans Schneeweiss for very helpful discussions and comments. Financial support from the Deutsche Forschungsgemeinschaft (German Science Foundation) is gratefully acknowledged.     

Exploring Strategy Implementation Consistency Over Time: The Moderating Effects of Industry Velocity and Firm Performance

In this paper we empirically investigate the temporal development of a firm’s strategy implementation consistency (SIC), i.e. the alignment between firms’ resource allocation decisions (RAD) and their articulated corporate concept (Noda and Bower, 1996; Burgelman and Grove, 1996; Love et al., 2002; Mintzberg, 1978). Doing so, we test whether (1) SIC is more likely to increase or decline over time, (2) whether firms competing in (low) high-velocity environments in fact show different temporal patterns in SIC, and (3) whether overperforming firms succeed in conserving their level of SIC. For our analysis we draw on 6238 RAD of 20 publicly listed firms with European origin over a period of 4–6 years. Applying maximum likelihood ordered logit estimation, our results indicate that the likelihood of an alignment of RAD and a firm’s corporate concept decreases over time. In line with scholars’ perception of high-velocity environments, we find that the firms in our sample competing under such conditions show no clear trend in SIC. These firms tend to “zig-zag” over time – swaying off and pulling back to their strategic course independent of the timing of the announcement of a corporate concept. We also find that overperforming firms are unsuccessful in preserving their SIC at the same level over time. Based on the empirical findings the paper discusses implications for theory and derives suggestions for corporate level managers on how to balance SIC and strategic flexibility.     

Computation of maximum likelihood estimates for μ and β from a grouped sample of a normal population. A comparison of algorithms

Computation of Maximum Likelihood Estimates for μ and β from a grouped sample of a normal population is a numerical problem which occurs frequently in applied statistics. We investigate the performance of several algorithms for this problem (including Newton-Raphson, Method of Scoring, Expectation-Maximization and others) using simulated data. One of the main results is that Method of Scoring is best both in number of iterations and CPU time though no second-order derivatives are used.     

The therapeutic misconception: a threat to valid parental consent for pediatric neuroimaging research

Neuroimaging research has brought major advances to child health and wellbeing. However, because of the vulnerabilities associated with neurological and developmental conditions, the parental need for hope, and the expectation of parents that new medical advances can benefit their child, pediatric neuroimaging research presents significant challenges to the general problem of consent in the context of research involving children. A particular challenge in this domain is created by the presence of therapeutic misconception on the part of parents and other key research stakeholders. This article revierws the concept of therapeutic misconception and its role in pediatric neuroimaging research. It argues that this misconception can compromise consent given by parents for the involvement of their children in research as healthy controls or as persons with neurological and developmental conditions. The article further contends that therapeutic misconception can undermine the research ethics review process for proposed and ongoing neuroimaging studies. Against this backdrop, the article concludes with recommendations for mitigating the effects of therapeutic misconception in pediatric neuroimaging research.     

Knowledge Management in Strategic Alliances: A Review of Empirical Evidence

Knowledge‐related and organizational learning processes in alliances have received much attention throughout the last 25 years. The field has generated a rapidly growing body of empirical evidence on how knowledge is managed in alliances. However, the sphere is highly complex, fragmented, incoherent, and heterogeneous in terms of the theoretical approaches applied. This paper presents an integrative and organizing framework for the empirical literature on knowledge management in strategic alliances. It illustrates how the knowledge management outcomes of knowledge creation, transfer and application are determined by four distinct sets of factors: knowledge characteristics, partner characteristics, partner interaction, and active knowledge management. Based on this framework, this review analyses and integrates empirical evidence in order to identify where findings converge and where results conflict. So far, research has focused strongly on singular interrelations between these four sets of factors and the transfer of knowledge. Conversely, the questions of how knowledge is created, retained, retrieved and applied and how the interplay of the different factors affects knowledge management in strategic alliances remain widely unexplored. The review concludes with a summary of the current state of the art in empirical research and discusses some promising avenues for future investigation.     

DOES A GOOD CENTRAL BANKER MAKE A DIFFERENCE?

The personalities of central bankers moved center stage during the recent financial crisis. Indeed, several central bankers even became “superstars.” In this article, we investigate whether superstar central bankers have an impact on economic performance. We employ school grades given to central bankers by the financial press, defining as superstars those central bankers receiving the top grade. First, we explain the grades in a probit estimation with measures of economic performance, institutional features, and personal characteristics. Second, we employ a matching approach to account for the endogeneity of grading with respect to economic performance. Using entropy balancing, we identify credible counterfactuals for top‐graded central bankers, that is, nonsuperstar central bankers who face similar situations. Comparing the economic performance of both groups, we find that superstars do indeed matter: a top‐graded central banker faces a significantly more favorable output‐inflation tradeoff than his peers. This effect is driven by outstanding central bankers in both advanced and emerging economies and is especially prevalent in the precrisis subsample. (JEL E52, E58)     

The Field of American Media Sociology: Origins,Resurrection, and Consolidation

This contribution is written against the backdrop of the historic dispersal of early American media sociology out from the core concerns of the discipline and into various importer academic disciplines (including communication, journalism, and media studies) and an ever‐growing pervasiveness of media in everyday life which is reflected by a resurgence of sociological scholarship in the United States since the early 2000s. The article divides the field in works that study media inwards – along the threefold dimensions of production and technologies, communication and discourse, reception and effects – and works that study media outwards. We argue that this latter perspective, examining broader theoretical, methodological, and substantive social implications of mass‐mediated communication, is the most promising one for a mature field of American media sociology. On this basis, we conclude with some suggestions regarding possible new, and as of yet understudied, lines of inquiry for future media sociologists.     

Overeducated Workers as an Insurance Device

Empirical findings show that firms frequently employ overeducated workers. Since overeducated workers earn more than adequately educated ones working in similar jobs these findings seem to be puzzling. In this paper, we introduce an insurance approach to explain the employment of overeducated workers. Referring to this approach, overeducated workers are employed by a firm to avoid high losses in the case of a crisis (e.g. when the production process breaks down). Contrary to adequately educated workers, overeducated ones may be helpful in this situation by quickly offering improvisatorial solutions. First, we use a simple model to demonstrate the insurance argument. Second, we test the major implication of the model empirically by using industry panel data: if and only if high‐skilled workers are employed for insurance purposes, the average wage of high‐skilled workers in firms that need insurance will be lower compared with firms that do not need insurance. The data confirm this theoretical result.     

Vertrauen bei Internet-Auktionen

The text replies to the article “Trust and Reputation in Internet-Auctions” (KZfSS, Vol. 54, No. 4, pp. 674–693) by Diekmann and Wyder. In principle the authors’ consideration regarding a premium for reputation for trustworthy participants in internet auctions seems to be attractive. However, we object to the lacking definitions of the categories of trust and reputation as well as to the problematic design of their central indicator (reputation). With regard to their interpretation we criticize the missing consideration of qualitative — especially negative — statements in the public rating systems, underestimating the relevance of “critical incidents” to fragile trust relations on the internet. Finally we remark that Diekmann and Wyder misjudge the founding, cultivating and modifying activities (including imposing sanctions) of the platform owner towards this institution regulating the market.