F?rdern aktienkursbasierte Vergütungsinstrumente langfristig orientierte Unternehmensentscheidungen? Lehren aus der Kreditkrise

The question whether stock-based management incentives encourage long-term oriented management decisions is the topic of a controversial public debate. Also, the existing academic literature provides no clear picture, mainly due to endogeneity problems. In this paper, we reexamine the issue in the context of the recent credit crises, which allows us to solve the endogeneity problem. In the empirical analysis we find that firms, which have awarded stock-based incentives to their executives prior or during the financial crises, face substantially lower cuts in investment spending. These firms also show higher levels of R&D investments during the financial crises. Overall, our results suggest that stock based long-term incentives promote long-term oriented management decisions.     

Wann werden Ehen getrennt?

With regard to marriages, numerous studies have reported a time-dependent course of the dissolution rate, which is characterized by an initial rise and a subsequent decline after a couple of years. The article at hand discusses potential explanations for the correlation of marital duration and the risk of dissolution and examines them on the basis of the Family Survey 2000. The results indicate, among other things, that the concentration of childbirths in an early stage of marriage leads to a slow-down of the initial rise of the dissolution rate whereas it weakens its later decline as the stabilizing effect of shared children on marriage decreases when the children become older. There are significant differences with respect to the dependency of the dissolution risk on marital duration between the successive marriage cohorts, depending on the wife’s occupation, age at marriage as well as between couples who did vs. those who did not cohabitate before marriage. The results suggest that relationship-specific processes as well as changes of the marital preconditions resulting from the partners’ respective ages contribute to the explanation of the course of the dissolution rate.     

Neighborhood-Based Services: Organizational Change and Integration Prospects

Prospects for service integration between settlement houses, or traditional neighborhood centers that offer services for individuals ranging from preschool children to the elderly, and family resource centers, agencies that provide support for families and early childhood education programs, are explored in this Rochester, New York, case study. Although the target populations of these two types of organizations overlap, service integration is not likely in the short run due to differing organizational philosophies and the adaptation of each organization to unique funding sources. Increased funding pressures and demands for greater efficiency in service delivery may make collaboration more attractive in the future.     

Nonspecific Urethritis: Its Current Status

Abstract

The etiology, epidemiology, clinical presentation, diagnosis, and treatment of nonspecific urethritis (N.S.U.) is discussed. Chlamydia seems to be responsible for approximately 40–50% of cases while the etiology of the remainder remains obscrue. There seems to be reasonably good evidence for venereal transmission as well as for treatment of the female partner whether symptomatic or asymptomatic.

Tetracyline given for 21 days or oxytetracycline given for four days seem to be the most effective first line treatment regimens at this time.

Complications which include prostatitis, epididymitis, urethral stricture, and Reiter's Syndrome, are discussed. It appears as though there is a reasonable possibility that Reiter's Syndrome is a separate entity (or immunological sequela) rather than a complication.     

Qualitative longitudinal analysis of symptoms in patients with primary and metastatic brain tumours

Summary.  Primary and metastatic brain tumour patients are treated with surgery, radiation therapy and chemotherapy. Such treatments often result in short- and long-term symptoms that impact cognitive, emotional and physical function. Therefore, understanding the transition of symptom burden over time is important for guiding treatment and follow-up of brain tumour patients with symptom-specific interventions. We describe the use of a hidden Markov model with person-specific random effects for the temporal pattern of symptom burden. Clinically relevant covariates are also incorporated in the analysis through the use of generalized linear models.