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     

Effort-reward imbalance and work-home interference: a two-wave study among European male nurses

ABSTRACT

This one-year follow-up study among 1,421 male nurses from seven European countries tested the validity of the Effort-Reward Imbalance (ERI) model in predicting prospective vital exhaustion and work-home interference. We hypothesised that effort and lack of reward would have both main and interactive effects on future outcomes. Results of structural equation modelling (SEM) showed that effort was positively related to exhaustion and work-home interference, both simultaneously and over time. Lack of reward predicted increased exhaustion at follow-up, but effort-reward imbalance did not influence the outcomes. Additionally, Time 1 exhaustion predicted increased work-home interference and exhaustion at follow-up. These results do not support the ERI model, which postulates a primacy of effort-reward imbalance over main effects. Instead, the findings are in line with dual path models of job stress and work-home interference. Multi-group SEM showed partial cross-cultural metric invariance for the ERI measure of effort, but the ERI measure of rewards showed no metric measurement invariance, indicating its meaning is qualitatively different across cultures. Nevertheless, the main conclusions were markedly similar for each national sub-sample. We discuss the theoretical and practical implications of our study.     

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.     

The Relative Fit measure for evaluating a blockmodel

Statistical Methods & Applications - A blockmodel is a network in which the nodes are clusters of equivalent (in terms of the structure of the links connecting) nodes in the network being...     

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.     

Will the Dismantlement of Early Retirement Schemes Increase Older Unemployment? A Competing‐risk Analysis for Belgium

On the basis of administrative data for Belgium, we estimate a competing‐risk model on transitions from employees aged 50 and older into unemployment, early and old‐age retirement while accounting for forward‐looking work disincentives. Our estimates are used to simulate a cut in early retirement benefits. Although this would enhance the financial sustainability of the social security system, our simulations predict a strong increase in unemployment among older blue‐collar workers in traditional industries. Members of private saving plans or occupational pension schemes and highly educated workers are predicted to move into the old‐age pension system.     

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.