Models of Congruence of Personal and Organizational Values: How Many Points of Contact are There Between Science and Practice?

The paper aims to analyse the structure of the formed models of congruence of personal and organizational values, opportunities of their application in order to conceptualize the guidelines for the formation of an integrated model. The models for analysis were selected from the articles published in international databases with the keywords associated with value congruence models and grouped by the types of models: models that represent the origin of the phenomenon of value congruence and methodology of evaluation, and models, which depict the impact of value congruence on the employee and activities of the organization. The main result of this research is a complex analysis of all models of congruence of personal and organizational values presented in the scientific literature, in the aspect of their structure, content and practical application. It was found that the essential elements of the models analysed are personal values, organizational values, congruence of personal and organizational values and the influence of congruence on the person and the organization. However, the models lack not only the scientific substantiation of the influence of the phenomenon of value congruence on the person and the organization, but also practical recommendations on how to achieve strong value congruence in the organization. This article exclusively presents the analysis of models developed by different scientists, but the obtained results of empirical studies are not compared statistically, applying certain models in practice. Such criteria as the sample size, the nature of activities of the organizations were not analysed and the states, in which the studies were carried out with the application of the analysed models, are not emphasized. This study also does not aim to determine the most appropriate diagnostic instrument for evaluation of value congruence, leaving the open way for the further discussions. The originality of this research is presupposed by the fact that it presents most of the models described in the scientific literature that evaluate the congruence of personal values of employees and the values prevailing in the organization. This will help the researchers of value congruence form a clear view about the models published in scientific literature, not to be disorientated in the diversity of the presented models and look for new directions for improvement of models of value congruence. A newly developed complex model of value congruence also offered to executives of organizations will help perceive the process of formation of this phenomenon and its benefits, and understand how to manage this phenomenon in practice.     

Testing the higher education-led growth hypothesis in a small island: an empirical investigation from a new version of the Solow growth model

This study employs a new version of the Solow Growth Model in order to investigate the higher education-led growth (HELG) hypothesis in the case of North Cyprus. Results reveal that a long-run equilibrium relationship exists between real income growth of North Cyprus and its determinants, namely capital, labor, and the higher education sector. Results show that real income growth converges to its long-term equilibrium level by 10.9 %. Granger causality tests suggest undirectional causality from higher education growth to real income growth in North Cyprus. Therefore, the HELG hypothesis can be inferred for the Turkish Cypriot economy.     

Perceived justice and post-recovery satisfaction in banking service failures: Do commitment types matter?

Based on the notion that the types of customer commitment to a service provider may have diverse reasons and effects on the customer’s perceptions, attitudes, and behaviors, this study aims to investigate the different buffering effects of calculative and affective commitments on the perceived justice and post-recovery satisfaction (PRS) relationship. Multiple and hierarchical regression analyses were conducted based on survey data collected from 284 households who experienced service failure in the banking sector. Results revealed that while affective commitment moderates the effects of procedural and interactional justice, calculative commitment increases the impact of distributive and procedural justice on PRS.     

Übernivellierung der Einnahmen aus der Grunderwerbsteuer im künftigen Finanzausgleich

Fiscal Equalisation in Germany provides substantial fiscal redistribution between federal and state and among state governments. However, there is also a degree of tax autonomy for the individual German states. Since 2007, states can adjust their local rate of the Real Estate Transfer Tax. However, if they keep the rate low, they may suffer revenue losses due to fiscal redistribution. The paper considers whether this effect will also be present in the new rules for fiscal equalization which will come in to effect in 2020.     

Happiness,income and poverty

There is considerable evidence from a variety of sources to suggest that well-being is a function of relative income. These findings have been used to explain the Easterlin Paradox, whereby a rise in income for all does not lead to a rise in average happiness in a country (even though the cross section relationship between income and happiness is positive). This relativity of utility has led to calls for policy to focus away from GDP. I here first discuss some of the evidence that well-being is indeed relative in income, but then consider two relatively little-analysed issues to suggest that there may continue to be a role for GDP per capita in happiness-based policy: the inequality of subjective well-being, and the specific case of those in income poverty.     

Do political connections affect stock price crash risk? Firm-level evidence from China

Using a sample of Chinese listed firms in the period from 2003 to 2012, this paper empirically investigates how the presence of politically connected directors affects stock price crash risk. We thereby make a distinction between listed state-controlled firms and privately controlled firms due to their different incentives to appoint politicians as directors on the board. Our empirical results show that politically connected directors exacerbate stock price crash risk in listed state-controlled firms, an effect driven by the appointment of local government officials as directors. In contrast, hiring politicians as directors, particularly central-government-affiliated directors, helps listed privately controlled firms to reduce stock price crash risk. Finally, good quality of institutions does not help to alleviate the positive relationship between political connections and stock price crash risk in listed state-controlled firms. However, it does weaken the role of political connections in reducing crash risk in listed privately controlled firms.     

Analyse der Abwicklung von gesetzlichen Krankenkassen per sozialrechtlicher Schließung oder per Insolvenzverfahren

Private as well as statutory health insurers have various ways of insolvency. Although the Insolvency Act has been applied for statutory health insurance since 2010, these new options were not used up to now. Anyway, the legislators laid the preference out of closure. This article investigates how the priority of closure could be in contradiction to the applicability of the Insolvency Act. It is asked, whether the introduction of the insolvency capability of health insurance funds was rather to assimilate the frame conditions relating to pension promises than creating a real alternative. One reason could be, that the Insolvency Act is not only generally applicable in the liquidation of a health insurance fund, but potentially even the best alternative. The insolvency proceedings for example are advantageous for health insurance funds within the same group because the maximum load is split and lower than it would be by a closure by social law and in addition to that the PSV is obligatory. The results show, that the generally-accepted, not limited standard preference of closure as laid out by the legislators in § 171b (3) S. 2 SGB V, seems inexplicable. The paper draws parallels to private health insurance companies under Solvency II and opens up new perspectives for legislative measures.     

Long waves in prices: new evidence from wavelet analysis

In this paper we apply wavelet analysis to study the dynamics of long-term movements in wholesale prices for the USA, the UK and France over the period 1791–2012. The application of wavelet analysis to long-term historical price series allows us to detect long waves in prices whose periodization is remarkably similar to those provided in the literature for the pre-World War II period. Moreover, we find evidence on the existence of long waves in prices also after World War II, a period in which long waves are generally difficult to detect because of the positive trend displayed by prices. The comparison between the long wave components extracted through wavelets and the Christiano–Fitzgerald band-pass filter suggests that wavelets provide a reliable and straightforward technique for analyzing long waves dynamics in time series exhibiting quite complex patterns such as historical data.