Intra-industry diversification effects under firm-specific contingencies on the demand side

How do firm-specific, demand-related factors influence the relationship between intra-industry diversification (IID) and performance? Recent findings regarding the performance effects of IID depict a complex picture with curvilinear relationships and several contingencies. However, firm-specific contingencies on the demand side have remained unexplored. We analyze how IID relates to firm performance (market share) in the German automotive industry using panel data between 1999 and 2008. We specifically focus on a firm's high-quality brand image as a demand-side contingency. We find support for our hypotheses of complex curvilinear relationships as well as for moderating effects of brand quality. Our results have significant theoretical implications for the IID literature.     

Understanding end-user perspectives to enhance perceived value uptake of harm-minimization tools: considering gambler’s views of a pre-commitment system

Harm-minimization strategies reduce the experience of gambling-related harms for individuals and those close to them. Most policies and particularly discussions of tool design and implementation fail to involve end users and consider their concerns and needs. This study aimed to investigate the best way to introduce a harm-minimization tool for electronic gaming machines (EGMs) that will maximize the perceived value and subsequent uptake by the intended audience of gamblers. Focus groups were conducted with 31 Australian regular EGM gamblers experiencing a range of gambling problems. Participants were asked their perspectives of a pre-commitment system (features including accessing activity statements, setting limits, viewing dynamic messages, taking breaks), including concerns, and how to enhance perceived value and usefulness. Positive attitudes about the system were expressed; however, many gamblers saw the tool as relevant only for problem gamblers. Participants indicated that value could be enhanced by making the system flexible and customizable, but still easy to use. Design and implementation strategies such as incorporating flexibility in features, ease of use, appropriate terminology, and educational efforts may address gamblers’ concerns, particularly regarding privacy and potential stigma. This would enhance user perception of harm-minimization tools as relevant and may subsequently enhance effectiveness.     

EMPIRICAL FEATURES OF THE SECOND-GENERATION TARGET ZONE MODELS: MEAN-REVERTING FUNDAMENTALS AND ENDOGENOUS DEVALUATION RISK

We show that within Bertola and Svensson's second-generation target zone model, mean-reverting interventions and endogenous devaluation risk are closely interrelated. Over the period 1983–93 we analyze the degree of mean reversion in the underlying fundamental process as well as the term structure of interest rate differentials vis-à-vis Germany for six Exchange Rate Mechanism currencies. For Austria, Denmark and the Netherlands, and for Belgium after 1990 our estimates are broadly in line with the first-generation target zone model, whereas those for France and Italy are in accordance with the model that allows for endogenous devaluation risk. ( JEL F3 1, E43)     

Capitalizing the Crisis? Explanatory Factors for the Design of Short‐time Work across Organisation for Economic Co‐operation and Development Countries

This article looks at the financial and economic crisis 2008–10 in 18 Organisation for Economic Co‐operation and Development states and seeks to investigate explanatory paths for the subsidization of further education within short‐time work programmes. Several hypotheses are put to the test: first, a classical partisan difference argument; second, a varieties of capitalism approach proposing a successful joint rallying of employers and employees for subsidization in coordinated market economies; and, lastly, the merged hypothesis that right‐wing parties in a coordinated economic context might subsidize feeling the pressure to overcompensate an ‘issue ownership’ of left parties in the field of employee‐friendly policies. We identify four explanatory paths: coordinated economies in the sample subsidized when they were economically closed or highly indebted. The results also support our combined hypothesis, that New Zealand – a left‐governed liberal market economy – and right‐governed coordinated market economies of the non‐Scandinavian type subsidized.     

A Measure of Dependence Between Two Compositions

We consider the problem of describing the correlation between two compositions. Using a bicompositional Dirichlet distribution, we calculate a joint correlation coefficient, based on the concept of information gain, between two compositions. Numerical values of the joint correlation coefficient are calculated for compositions of two and three components, respectively. We also present an estimator of the joint correlation coefficient for a sample from a bicompositional Dirichlet distribution. Two confidence intervals are presented and we examine their empirical confidence coefficients using a Monte Carlo study. Finally, we apply the estimator to a data set analysing the joint correlation between the 1967 and 1997, and the 1977 and 1997 compositions of the government gross domestic product for the 50 states of the USA and the District of Columbia.     

Circular literacy. A knowledge-based approach to the circular economy

ABSTRACT

This paper applies a knowledge-based approach to study the role of circular economy (CE) for sustainable development. An analysis of publications from practice-oriented CE advocates is deployed to study the types of knowledge actors foster when they pursue the transition towards a CE. With the proposed term ‘circular literacy’ (CL), an analytical framework is provided to differentiate between different types of knowledge relevant for a transition towards the CE: system, target, and transformation knowledge. The main emphasis is on identifying knowledge-related prerequisites that prevent or stimulate the transformative potential of CE thinking and practices for sustainable development. The analysis reveals how the CL in the sample is confined by a narrow economic vision of the CE, lacking a reflection of political and sociocultural aspects that are needed to be addressed in future research to gain a robust concept of a CE-driven systemic transition towards sustainability.     

Mixing Bismarck and child pension systems: an optimum taxation approach

Pensions with a strong tax–benefit link (Bismarck pensions) minimise the labour–leisure distortion of the public pension system. By contrast, pensions with a strong link of benefits to the number of children (child pensions) minimise the fertility distortion. When both types of distortion are present, we obtain a Corlett–Hague result regarding the optimal mix of the two pension formulae: the Bismack pension should be given a positive weight if and only if children are more complementary to leisure than consumption. Alternative fertility instruments such as child benefits turn out to be perfect substitutes to a child pension.     

Footing in bilingual play

In Goffman's classic paper (1979), bilingual code-switching was seen as a prototypical device for accomplishing shifts in footing. Yet his work has not informed research on code-switching to any great extent. The present study of primary school children's play interaction in an English-Swedish school setting combines a sequential approach to code-switching with an analysis of footing (cf. Auer 1984), extending prior work in showing that code-switches often involve subtle shifts of footing, both in terms of production formats and participation frameworks. Code-switches were employed as important rhetorical and dramaturgic play devices, e.g. when contextualizing changes of addressee and shifts of frame (e.g. serious, nonserious). In contrast to earlier, often speaker-centered work, reception is discussed in-depth in the present analyses, and it is shown that footings are truly interactional achievements.     

Explaining Cross-Country Differences in Attitudes Towards Immigration in the EU-15

In this paper, we use data from the first two rounds of the European Social Survey to analyze the extent to which differences in average attitudes towards immigration across the EU-15 countries may be explained by differences in socioeconomic characteristics and individually perceived consequences of immigration, using an extension of a decomposition technique developed by Fairlie (2005). We find that despite the significant effects of socioeconomic characteristics on attitudes, differences in the distributions of these characteristics can only explain a modest share of the cross-country variation in average attitudes. A larger part can be explained by differences in perceived consequences of immigration, but the main part is still left unexplained. Apart from providing useful input for policy makers working in the area of immigration policy, this raises a number of questions for further research for which the ESS data can be successfully applied.

"You are weeping for that which has been your delight": to experience and recover from grief

To explore how people experience grief and what factors are perceived as facilitating successful grief work, a survey was distributed to people who had completed a grief recovery course. The results showed that emotions, cognitions, physical expressions, and behaviors all characterize grief, but that emotions are the most central component. The course brought relief and was regarded most favorably by those having at least 1 year between the grief trigger event and participation in the course. Writing a letter in which course participants express their feelings to the loss object was perceived as the most successful aspect of the course. The letter might help with grief recovery by bringing aspects that have not been dealt with into conscious awareness.