This paper investigates how multinational firms choose the capital structure of their foreign affiliates in response to political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we distinguish different types of political risk, such as expropriation, unreliable intellectual property rights and confiscatory taxation. In our theoretical analysis we find that, as political risk increases, the ownership share tends to decrease, whereas leverage can both increase or decrease, depending on the type of political risk. Using the Microdatabase Direct Investment of the Deutsche Bundesbank, we find supportive evidence for these different effects. 相似文献
Graphical chain models are a powerful tool for analyzing multivariate data. Their practical use may still be cumbersome in
some respects, since fitting the model requires a lengthy selection strategy based on the calculation of an enormous number
of different regressions. In this paper, we present a computer system especially designed for the calculation of graphical
chain models, which will not only automatically carry out the model search but also visualize the corresponding graph at each
stage of the model fit. In addition, it allows the user to modify the graph and to fit the model interactively. 相似文献
An emerging body of turnover literature has adopted a relational perspective with a focus on peer influence. In this study, by drawing on the social information processing perspective, we attempt to explain how and when other team members’ interpersonal-oriented citizenship behavior (ICB), as symbolic cues, reduced focal member’s turnover intention. Based on a sample of 462 employees across 80 teams from 13 Chinese organizations, we found the symbolic cues of peer ICB enhanced team cohesion and then reduced focal employees’ turnover intention. In addition, servant leadership weakened the negative effect of peer ICB on turnover intention through team cohesion. These findings expand current theorization of the relational perspective and knowledge about how and when peer interpersonal citizenship behavior thwarts focal employee turnover intentions.
Ostracism is an important issue in the workplace and studies on this issue are diverse and large. This paper comprehensively reviews the literature related to workplace ostracism in five aspects. First, in discussing why ostracism occurs, it outlines that individuals are ostracized due to their dispositions, ability and skills, behavioral features, and perpetrators’ ostracism motives. Second, in investigating the consequences of ostracism, it outlines that victims would respond with affective and attitudinal, physical, and behavioral tendencies, and these reactions can be either positive or negative. Third, in describing specific mechanisms for ostracism to take effect, it summarizes that threat-to-needs as well as affective and cognitive responses play important roles. Fourth, regarding the mixed findings of ostracism’s impact, it points out that extant inconsistencies lie in individual differences, temporal effects, and situational cues. Last, in recommending future research areas, it suggests several promising directions, particularly the role of culture in shaping victims’ responses to ostracism. We hope this article will be a good foundation for management researchers in Asia Pacific regions to conduct indigenous studies of workplace ostracism relevant to their own contexts. 相似文献
Access to justice remains a major challenge in EU consumer law, which has become more pressing with growing cross-border purchases, negatively affecting the common market. Moreover, a recent surge in supranational mass damages cases has highlighted market failures and the need for collective procedures. Under the Lisbon Treaty, new opportunities have arisen to close this civil justice gap. This article analyzes how the wider competences of the EU on access to justice can facilitate consumer redress, by putting special emphasis on the issue of the affordability of litigation, which has been so far underexplored. This work argues that collective procedures, combined with coherent out-of-court mechanisms and funding schemes, are key elements of an effective consumer dispute resolution system. In particular, specific cases and financing models are assessed, which have the potential to foster judicial protection of consumers. 相似文献
Germany faces a qualitative change in communication. Broadband applications and Internet services have created an ecosystem with new value chains. Demand for bandwidth is growing rapidly. In ten years’ time we expect a transformation to a gigabit economy that relies on very high capacity networks. In Germany, competitors of the former incumbent Deutsche Telekom are the main investors in very high capacity broadband. Internationally, Germany is lagging behind in the coverage of gigabit networks, which leads to a high risk for its future competitiveness. The financing of urgently needed investment seems feasible when taking into consideration today’s private investments, international benchmarks and state aid programmes. The government has to set growth-fostering conditions with a clear commitment to a Gigabit network now. 相似文献
Information about alternatives often appears in a multi-option multi-attribute table, with the alternatives hierarchically sorted on attribute levels. This research shows that the choice of the primary sorting attribute can affect peoples' evaluations. Three studies show that the attribute on which options are primarily sorted becomes more important in preference formation, but only if this attribute is hard to evaluate. This sorting effect disappears if attribute level evaluation is rendered easier. Eye-movement data further show that the time to evaluate a given attribute level, a proxy for evaluation effort, mediates the effect of choice of sorting attribute on attribute weight in option evaluation. 相似文献
This article empirically investigates the adjustment of managers to working in multi-national project teams in the pipeline and plant construction industry. The members of such teams come from diverse national backgrounds and there is no single culture dominating the team. While there has been a lot of research on multi-cultural teams, organizational socialization and expatriate issues, so far these areas have been investigated separately. This article contributes to research in these fields by developing and empirically testing a model containing a number of antecedents and consequences of the adjustment of individuals when working in multi-cultural project teams. The findings highlight the importance of cross-cultural sensitivity for individuals' adjustment in such teams, as well as the positive role of adjustment for individuals' satisfaction, commitment and intention to stay with the team. 相似文献
Previous research has indicated that female managers are still a minority among expatriate staff. As studies dealing with this topic from a European perspective are still more than rare, this study focuses on the situation of female expatriates in Austrian companies. After surveying the TOP 500 organizations and the largest banks, insurance and consulting companies in Austria, results showed that – although women are still under-represented in international management – among nearly one quarter of the respondents, women who have already succeeded in breaking through the glass ceiling of local management are also succeeding more frequently in getting postings abroad. Moreover, the limited representation of female expatriates was explained primarily by a general lack of female talent available for the functions which are relevant for international positions, second, by prejudices of host-country nationals towards female managers and, third, by a lack of interest shown by women in global assignments due to personal reasons. This paper reports on a questionnaire distributed to human resource managers and provides more insight into the subject of female expatriates. It begins by reviewing the literature dealing with women in international management before analysing the matter of under-representation of female expatriates from a different perspective and asking for the reasons why female managers are not sent abroad by Austrian companies. Then the research method is discussed before the findings are presented and their implications discussed in terms of future research. 相似文献