Discharge and entrepreneurship in the preventive restructuring directive

The European Council adopted the Preventive Restructuring Directive (2019/1023/EU) on June 20, 2019, which must be transposed by July 17, 2021, subject to a possible extension of a maximum of 1 year for countries encountering particular difficulties in the implementation. The Directive signals a paradigm shift in EU policy on insolvency from the traditional focus on cross‐border issues. The new Directive puts insolvency squarely at the heart of internal market regulation, following the EU's policy since the Great Recession of 2008 of promoting and strengthening the economy. Since 2016, the European Commission has issued several documents to facilitate insolvency procedures, leading to the recently adopted Preventive Restructuring Directive. Besides restructuring, the Directive promotes the discharge of pre‐insolvency debt for entrepreneurs. The Directive does not require that discharge be extended to other natural persons but recommends it. This article discusses the relationship between entrepreneurs and non‐entrepreneurs in an insolvency situation and concludes that a fair interpretation of the new Directive requires that the situation of the ordinary person with liability for business debt be closely scrutinised.     

The impact of primary service and servicescape on customer satisfaction in a leisure service setting: an empirical investigation among theatregoers

• This paper investigates the effects of perceived primary service and perceived servicescape on customer satisfaction in theatres. According to a questionnaire study, among n = 2897 theatregoers in 12 German‐speaking theatres, factors pertaining to the perceived primary service are most influential on customer satisfaction (in particular, the perceived artistic quality, followed by visitors' emotional and cognitive response to the performance). Contrariwise, factors pertaining to the perceived servicescape (i.e. seating and view; other customers' behaviour) are only of minor relevance for customer satisfaction. Furthermore, the influence of both perceived primary service quality and perceived servicescape quality on customer satisfaction is subject to moderating individual factors, such as visitors' theatrical competence and their motivation for attending a theatre performance.

Copyright © 2015 John Wiley & Sons, Ltd.     

Age differences in career activities among higher‐level employees in the Netherlands: a comparison between profit sector and non‐profit sector staff

The present study describes age differences in the occurrence of career activities among profit sector and non‐profit sector employees in the Netherlands. Three different types of variables have been studied, i.e. individual, job‐related and organizational variables. Hypotheses have been tested with original survey data from 423 profit sector employees and 136 non‐profit sector employees. The employees are all working in higher‐level jobs in large organizations. Overall, we may conclude from this study that the differences between profit sector and non‐profit sector workers are not consistent at all. For some factors the situation is more advantageous for profit sector employees, whereas for other factors the outcomes point in the opposite direction. Regarding age effects, we have found that, in general, for profit sector employees the differences between starters (20–34 years) and middle‐aged workers (35–49 years) are not univocal, whereas the differences between middle‐aged workers and seniors (over‐fifties) imply that the amount of individual initiatives and organizational activities is less for the latter group of employees. When the three age groups are compared for the non‐profit sector employees, most factors do not vary significantly. For the factors where the F‐test is found to be significant, by and large, the situation regarding the possibilities for a further career development is worst for the seniors.     

Antecedents of the small firm effect: the role of knowledge spillover and blocked mobility for employee entrepreneurial intentions

Small firms are said to produce more entrepreneurs than larger ones (“small firm effect”). Applying existing theories, we analyze how different management positions influence employee entrepreneurship in small firms. Based on a panel study of 4832 cases, we provide evidence for the fact that small firms indeed produce more entrepreneurs. Moreover, we show that lower management positions of small firm employees are responsible for this small firm effect. We conclude that small firms seem to create an environment in which employees on low management positions strongly benefit from knowledge spillover effects as they are educated necessary skills, knowledge and expertise, and are able to build up networks conducive to entrepreneurship (“knowledge spillover effect”), while not having the multifaceted advancement opportunities as in large companies (“blocked mobility effect”).     

Online job search discouragement: How employment platforms and digital exclusion shape the experience of low-qualified job seekers?

How do people experience the platform-mediated job search process? We explore this question based on a sample of in-depth interviews (n = 20) with low-qualified, unemployed Spanish job seekers. Our main finding shows that the ways they use Information and Communication Technologies negatively impact their engagement in online job search activities. Based on our findings, we develop a framework of online job search discouragement revolving around crafting online profiles, applying for jobs, reviewing application statuses and integrating the tensions these activities carry for the experience and the outcome of the platform-mediated job search.     

Longitudinal Leisure Activity Profiles and Their Associations with Recovery Experiences and Job Performance

We aimed to identify longitudinal leisure activity profiles among working adults and their links to recovery experiences and job performance. Leisure activities, recovery experiences, and job performance were investigated among 831 employees using survey data collected in spring 2013 (T1) and 2014 (T2). Through latent profile analysis (LPA), four stable longitudinal leisure activity profiles were identified. “Social Sports(wo)men” (46%) engaged in physical and social activities but rarely in creative or cultural activities. “Active Artists” (23%) pursued all leisure activities, particularly creative activities. “Socially & Culturally Inactives” (17%) exercised frequently but seldom engaged in social, cultural or creative activities. “Inactive Soloists” (14%) spent little time on physical activities. “Active Artists” reported most beneficial recovery experiences and job performance. Our results corroborate the importance of leisure activities (particularly diverse and creative activities) in facilitating recovery from work stress and job performance.     

Äußere Sicherheit und Flüchtlingsschutz als gesamteuropäische öffentliche Güter

Wirtschaftsdienst - Der Ukrainekrieg verändert die Lage in Europa grundlegend. Die Militärausgaben steigen nun seit langem wieder an und die Abhängigkeit von fossilen...     

System‐Spanning Values Work and Entrepreneurial Growth in Family Firms

Culture and values are key drivers of corporate entrepreneurship in early stages of family firm development, but value conflicts often arise over time that progressively inhibit their entrepreneurial efforts. How can family firms reconcile conflicting values to sustain corporate entrepreneurship over time? Our 45‐year longitudinal case study of a large global family firm shows that family business leaders’ practices of invoking and flexibly using family and business values were crucial to achieve sustained entrepreneurial behaviour and growth over an extended period of time. We theorize these efforts as system‐spanning values work enfolding through specific family, business, and temporal mechanisms. By identifying and elucidating three types of values work (i.e., rooting, revitalizing, and spreading), our study advances current understanding of the micro‐foundations underpinning the relationship between values and entrepreneurship in family firms.     

Gender differences in financial knowledge,attitudes, and behaviors: Accounting for socioeconomic disparities and psychological traits

A large body of international research finds a persistent gender gap in the financial literacy of women compared to men, but explanations for this gap remain a topic of active debate. In this observational study, we explore the explanatory value of psychological characteristics, in addition to demographic variables and roles in household financial decision making. We begin by documenting the expected gender differences in financial knowledge, attitudes, and behaviors, using a national survey of adult Canadians (n = 21,789) that provides population-level estimates. Next, we contrast these results against a second Canadian survey data set (n = 3,502) where we are able to control for individual differences in psychological traits. Results of OLS regressions suggest that gender is not a significant predictor on three scales of financial capability. Decomposition analysis finds underlying differences in individual characteristics (endowments) explain the majority of the observed gender gap in financial literacy when psychological traits are included in the model.