Effectuation or causation as the key to corporate venture success? Investigating effects of entrepreneurial behaviors on business model innovation and venture performance

Corporate Venturing sets the stage for entrepreneurial behavior in order to create business model innovation (BMI). Moreover, prior literature indicates the importance of BMI as a source of performance advantage, especially in growing industries. However, an empirical examination of the effectiveness of entrepreneurial behaviors for achieving BMI is still lacking. Hence, this study investigates the effectiveness of effectuation and causation as primary entrepreneurial logics to create BMI. Analyzing data obtained from 128 corporate ventures with partial least squares structural equation modeling, the effectiveness of both entrepreneurial logics for BMI with respect to different industry growth levels is clarified: The results point out that both behaviors lead to BMI in situations of moderate industry growth while effectuation (causation) is more effective in high (low) industry growth settings. Furthermore, the results point out that BMI in turn enhances corporate venture performance. Thus, corporate entrepreneurs should carefully align their entrepreneurial approach with industry growth projections to effectively develop BMI and achieve high venture performance.     

Invariance of generalized wordlength patterns

The generalized wordlength pattern (GWLP) introduced by Xu and Wu [2001. Generalized minimum aberration for asymmetrical fractional factorial designs. Ann. Statist. 29, 1066–1077] for an arbitrary fractional factorial design allows one to extend the use of the minimum aberration criterion to such designs. Ai and Zhang [2004. Projection justification of generalized minimum aberration for asymmetrical fractional factorial designs. Metrika 60, 279–285] defined the J$J$-characteristics of a design and showed that they uniquely determine the design. While both the GWLP and the J$J$-characteristics require indexing the levels of each factor by a cyclic group, we see that the definitions carry over with appropriate changes if instead one uses an arbitrary abelian group. This means that the original definitions rest on an arbitrary choice of group structure. We show that the GWLP of a design is independent of this choice, but that the J$J$-characteristics are not. We briefly discuss some implications of these results.     

C^1连续的插值X—样条曲线的构造及性质

C.Blanc和C.Schlick提出了C^2连续的插值X-样条曲线,这里给出了C^1连续的插值X-样条曲线的构造算法及性质。     

Uncertainty about children's survival and fertility: A test using indian microdata

In this paper we present a non altruistic model of demand for children in the presence of uncertainty about children's survival. Children are seen as assets, as they provide help during old age. Theoretical predictions relating to the change in the mean and variance of the survival rate are derived. The empirical analysis is based on data from the Human Development of India (HDI) survey. Different models for count data variables, such as Poisson and hurdle models have been employed in the empirical analysis. The results highlight the importance of the uncertainty about children's survival in determining parental choices. This shows that realized or expected children's death is not the only link between fertility decision and children's mortality. The policy implications of such findings are briefly discussed. Received: 20 August 1998/Accepted: 19 July 1999     

Fertility assimilation of immigrants: Evidence from count data models

This study applies count data estimation techniques to investigate the fertility adjustment of immigrants in the destination country. Data on completed fertility are taken from the 1996 wave of the German Socioeconomic Panel (GSOEP). While the economic literature stresses the role of prices and incomes as determinants of fertility, the demographic literature discusses whether assimilation or disruption effects dominate immigrants' fertility after migration. We find evidence in favor of the assimilation model according to which immigrant fertility converges to native levels over time. In addition, we confirm the negative impact of female human capital on fertility outcomes. Received: 7 January 1999/Accepted: 10 August 1999     

以邓小平新时期统战理论为指导充分发挥党外干部的独特作用

党外干部应认真学习邓小平新时期统一战线理论,进一步加深对我国多党合作制度的认识,在实践中摆正位置,履行职责,切实发挥党外干部的作用.     

Investigating dependence between frequency and severity via simple generalized linear models

Recently, a body of literature proposed new models relaxing a widely-used but controversial assumption of independence between claim frequency and severity in non-life insurance rate making. This paper critically reviews a generalized linear model approach, where a dependence between claim frequency and severity is introduced by treating frequency as a covariate in a regression model for severity. As an extension of this approach, we propose a dispersion model for severity. For this model, the information loss caused by using average severity rather than individual severity is examined in detail and the parameter estimators suffering from low efficiency are identified. We also provide analytical solutions for the aggregate sum to help rate making. We show that the simple functional form used in current research may not properly reflect the real underlying dependence structure. A real data analysis is given to explain our analytical findings.     

EU countries’ progress towards ‘Europe 2020 strategy targets’

This paper describes and analyzes EU Member States’ progress towards the national EU2020 targets. To do so, this paper constructs a geometric composite index with Benefit-of-the-Doubt weights as a measure of a Member State’s overall performance on the EU2020 headline indicators. A tripartite decomposition of Member State performance change is presented to explain and analyze performance change of the EU-region and the individual EU Member States during the period 2008–2014. The results reveal that all Member States are in general making progress towards their national targets. Member States generally moved forward in the areas of R&D, environmental and educational policy and moved backwards in terms of employment and poverty and social inclusion. As to the realization of the national targets, the majority of the Member States are still mostly lagging on R&D and social inclusion and poverty reduction.     

Remittance volatility and financial sector development in sub-Saharan African countries

In this study we examine the relationship between remittances, remittance volatility and financial sector development in sub-Saharan Africa using a two-step system GMM estimator over the period 2002–2014. Separately focussing on banking sector- and stock market development, our study distinguishes between the effect of remittances and remittance volatility on financial sector depth and financial sector efficiency. The results indicate remittances act as a substitute for the formal banking system in sub-Saharan African countries. We further provide evidence that remittance volatility is detrimental to both banking sector depth and efficiency. No evidence is found that remittance volatility is related to stock market development. A policy implication from our study is that sub-Saharan African countries should have measures in place to monitor the predictability of remittances while the cost of remittance transfer needs to be investigated.