Private equity regulation: a comparative analysis

This article examines the existing contractual arrangements and industry standards in private equity. It shows that investors are, in principle, capable of structuring their particular investments according to their own preferences, there are a range of governance problems and risks that could be potentially hazardous for some classes of investors. We examine the circumstances where existing industry codes and legal tools can be used to address the problems that arise in relation to private equity and buyout activity.     

The future of hormone replacement therapy in the aging male

This paper is based on a presentation given at the 2nd World Congress on the Aging Male, Geneva, Switzerland, February 2000     

From Resources to Value and Back: Competition Between and Within Organizations

Examining the relationship between the competitive processes between and within organizations, we use selection system theory to link resource value to product value. We identify three dimensions (in‐selection, before‐selection and after‐selection) that facilitate determining the value of resources based on the functions they serve in the competitive process between organizations in the product market, i.e. the external selection system. Subsequently, we use these dimensions to explore the competitive process among resource providers within organizations, i.e. the internal selection system. This leads us to formulate three propositions that link the competitive process within organizations to the competitive process between organizations. First, we posit that if resources that individually score highly along only one of the three dimensions are bundled, it is more likely that organizational performance can be sustained. Second, we argue that providers of resources scoring highly along multiple dimensions will enjoy stronger means of appropriation in comparison with providers of resources scoring highly along only one of the three dimensions. Third, we contend that the extent to which an organization endeavours to remunerate its resource providers based on their perceived contribution to the organization's competitive position has a curvilinear (inverted U‐shaped) relationship with organizational performance.     

Short- and long-term stability in organizational networks: Temporal structures of project teams

Network research focuses on patterns of stable relationships, where stability represents the unfolding of social processes over long time frames. We argue that social interactions exhibit important regularities in different time frames (short and long term), reflecting distinct social processes. We illustrate the value of this distinction through a comparative case study of technology-mediated communication, within two project teams in a digital marketing agency. We examine how the embedding of interpersonal interactions in processes of reciprocity and closure over different time horizons enables the emergence of cohesion in the face of constant compositional changes. We propose that the time frames in which stable patterns of interactions develop are the key to understanding the nature of the underlying social processes with short-term patterns of closure and reciprocity representing adaptation to change while longer term patterns indicate cohesion. Our results are supportive of this argument and show that the two teams exhibit the same regularities in interactions but across different time horizons. We discuss the implication of our findings and argue that distinguishing between short- and long-term stability of social networks offers a novel and promising avenue for network research.     

Exploring teachers’ career self-management. Considering the roles of organizational career management,occupational self-efficacy,and learning goal orientation.

The current study examines how organizational career management – i.e. activities undertaken by schools in order to plan and manage teachers’ careers – relates to teachers’ career self-management – i.e. teachers steering their careers by means of searching for opportunities, networking, or seeking supervisory support. Moreover, it examines the mediating roles of occupational self-efficacy and learning goal orientation in this relationship. Mediation analysis in SPSS, using the PROCESS macro of survey data from 220 Dutch secondary school teachers, showed that positive relationships between organizational career management and career self-management were mediated by occupational self-efficacy and learning goal orientation.     

Generalized stochastic dominance and bad outcome aversion

Incomplete preferences over lotteries on a finite set of alternatives satisfying, besides independence and continuity, a property called bad outcome aversion are considered. These preferences are characterized in terms of their specific multi-expected utility representations (cf. Dubra et al., J Econ Theory, 115:118–133, 2004), and can be seen as generalized stochastic dominance preferences.     

Evaluating the Move to a Linear Tax System in Germany and Other European Countries

This paper proposes a comparison of the results of tax policy analysis obtained on the basis of unitary and collective representations of the household. We first generate labour supplies consistent with the collective rationality, by use of a model calibrated on microdata as described in Vermeulen et al. [Collective Models of Household Labor Supply with Nonconvex Budget Sets and Nonparticipation: A Calibration Approach (2006)]. A unitary model is then estimated on these collective data and unitary and collective responses to a tax reform are compared. We focus on the introduction of linear taxation in Germany. The exercise is replicated for other European countries and other topical reforms. Distortions due to the use of a unitary model turn out to be important in predicting labour supply adjustments, in the design of tax revenue neutral reforms, and in predicting a reform’s welfare implications.

MODELING DIFFUSION OF MULTIPLE INNOVATIONS VIA MULTILEVEL DIFFUSION CURVES: PAYOLA IN POP MUSIC RADIO

Diffusion curve analysis can estimate whether an innovation spreads endogenously (indicated by a characteristic " s -curve") or exogenously (indicated by a characteristic negative exponential curve). Current techniques for pooling information across multiple innovations require a two-stage analysis. In this paper, we develop multilevel diffusion curve analysis, which is statistically more efficient and allows for more flexible specifications than do existing methods. To substantively illustrate this technique, we use data on bribery in pop radio as an example of exogenous influence on diffusion.     

The Collective Model of Household Consumption: A Nonparametric Characterization

We provide a nonparametric characterization of a general collective model for household consumption, which includes externalities and public consumption. Next, we establish testable necessary and sufficient conditions for data consistency with collective rationality that only include observed price and quantity information. These conditions have a similar structure as the generalized axiom of revealed preference for the unitary model, which is convenient from a testing point of view. In addition, we derive the minimum number of goods and observations that enable the rejection of collectively rational household behavior.