Fair ranking of teachers

Economic theory suggests that it is optimal to reward teachers depending on the relative performance of their students. We develop an econometric approach, based on stochastic frontier analysis, to construct a fair ranking that accounts for the socio-economic background of students and schools and the imprecision inherent in achievement data. Using German PIRLS (IGLU) data, we exploit the hierarchical structure of the data to estimate the efficiency of each teacher. A parsimonious set of control variables suffices to get a “fair” estimate of unobserved teacher quality. A Hausman–Taylor type estimator is the preferred estimator because teacher efficiency and some exogenous variables may be correlated.     

Soziale Lage — Was sind die drängendsten Probleme?

Democracy seems to be at risk. People elect populists and autocrats, who offer simple solutions to social problems. Often, these problems are not even real ones but are only perceived as such. Economists have measures to determine which problems are fact-based, but they cannot draw a clear distinction between academic analysis and normative demand. If politics pursues a correction of a market outcome, any normative criteria other than efficiency have to be outlined explicitly. Nevertheless, some authors consider inequality one of the central contemporary social and economic challenges. Marcel Fratzscher emphasises that the solution is not found in more redistribution via taxes and transfers, but rather through greater equality of opportunity and social and educational mobility. Bert Rürup thinks that to stabilise the acceptance of the compulsory pension scheme, the dominance of the equivalence principle should be reduced. Further, the existence of different federal subsidy schemes should be replaced by a fixed federal contribution rate in alignment with the pension expenditures. In an international comparison, the fiscal burden for households with small and mid-level earned incomes is exceptionally high in Germany. In order to reduce this burden, Rürup suggests a contribution-free allowance for the social insurance contributions.     

News sentiment and sovereign credit risk

We explore the impact of media content on sovereign credit risk. Our measure of media tone is extracted from the Thomson Reuters News Analytics database. As a proxy for sovereign credit risk we consider credit default swap (CDS) spreads, which are decomposed into their risk premium and default risk components. We find that media tone explains and predicts CDS returns and is a mixture of noise and information. Its effect on risk premium induces a temporary change in investors’ appetite for credit risk exposure, whereas its impact on the default component leads to reassessments of the fundamentals of sovereign economies.     

Reducing perceptions of overqualification and its impact on job satisfaction: the dual roles of interpersonal relationships at work

A sizeable portion of the working population perceives that they are overqualified for their jobs. This is problematic, given that research consistently shows that such beliefs translate into lower levels of job satisfaction. Hence, it behoves human resource management (HRM) scholars to identify factors that influence perceptions of overqualification and also moderators that may reduce the negative effect of perceived overqualification on job satisfaction. In this study, we present a moderated path model that posits that the quality of the relationships that employees hold with their leader and with their team is not only antecedents of perceived overqualification but it is also hypothesised to weaken the negative relationship between perceived overqualification and job satisfaction. Survey data that were gathered from two organisations in the Netherlands (n = 183) supported the model. Implications for theory and practice in HRM are discussed. © 2015 John Wiley & Sons Ltd     

Foresight with Delphi Surveys in Japan

Foresight activities are conducted in many countries, but the Japanese were the most active in this field for many years. Most of their activities are based on the Delphi methodology. They published their first Delphi study in 1971 and repeated studies every five years. There is more knowledge available on more than 30 years of foresight with the Delphi approach in Japan. This provides an excellent opportunity to examine the established foresight system with the use of some examples. The forecast of the fax machine as an example of success, and the earthquake warning as a failure are illustrated in more detail, and the question is raised why—in spite of this mixed picture—foresight with the Delphi method is regarded as useful in Japan.     

The link between perceived HRM practices,performance and well‐being: the moderating effect of trust in the employer

The present study examines the interaction between perceived HRM practices and trust in the employer on employee performance and well‐being. Specifically, the study tests whether trust in the employer moderates the relationships between perceptions of HRM practices and task performance (as rated by employees’ supervisors), organisational citizenship behaviour, turnover intentions and employee well‐being. Support was found for the majority of the hypotheses using data from 613 employees and their line managers in a service sector organisation in the UK. Trust in the employer moderates the relationships between perceived HRM practices and task performance, turnover intentions and individual well‐being, but not organisational citizenship behaviour. Implications of the findings for organisations and future research are discussed.     

Das Stoma richtig versorgen

Stomaformen und Versorgungssysteme — In Deutschland leben circa 100.000 Menschen mit einem Stoma. Entscheidend für die Lebensqualit?t dieser Patienten ist eine optimale Versorgung des künstlichen Darmausgangs – auch durch die professionelle Pflege.