Career mentoring in context: A multilevel study on differentiated career mentoring and career mentoring climate

This study explores how supervisor career mentoring contributes to contemporary organizational career development, which strives to foster employees' promotability while strengthening their intention to stay. Specifically, we focus on the implications of career mentoring in team contexts. Applying a multilevel framework, we distinguish between individual‐level differentiated mentoring (i.e., an employee's mentoring perceptions as compared to those of other team members) and group‐level career mentoring climate (i.e., the average perception across all group members). In a workplace setting, we collected data from vocational job starters (N ranged from 230 to 290) and their company supervisors (N ranged from 56 to 68). We find that career mentoring climate positively relates to promotability, more so than differentiated career mentoring. Both career mentoring climate and differentiated career mentoring are positively related to the intention to stay. At the individual level, this relationship is mediated by job satisfaction. We discuss theoretical and practical implications of differentiated and group‐level mentoring.     

Approximate maximum likelihood estimation for stochastic differential equations with random effects in the drift and the diffusion

Consider N independent stochastic processes \((X_i(t), t\in [0,T])\), \(i=1,\ldots , N\), defined by a stochastic differential equation with random effects where the drift term depends linearly on a random vector \(\Phi _i\) and the diffusion coefficient depends on another linear random effect \(\Psi _i\). For these effects, we consider a joint parametric distribution. We propose and study two approximate likelihoods for estimating the parameters of this joint distribution based on discrete observations of the processes on a fixed time interval. Consistent and \(\sqrt{N}\)-asymptotically Gaussian estimators are obtained when both the number of individuals and the number of observations per individual tend to infinity. The estimation methods are investigated on simulated data and show good performances.     

Cents of self: How and when self-signals influence consumer value derived from choices of green products

Consumers choosing between green and conventional products often believe such choices imply trade-off decisions, such that green products provide morally-related advantages but embody price or quality-related disadvantages compared to standard products. We study the consequences of such trade-offs for consumer value in the context of privately consumed green products. To develop our theoretical model, we draw from the perspective of self-signaling – consumers' act of signaling information about their internal qualities to their own self through choice. We explore how and when self-signals from such trade-off decisions influence consumer value gained from comparative choices of green versus standard products. Six studies were conducted, using divergent measures of the dependent variable, multiple product categories, and measured as well as manipulated self-concept clarity (SCC). We find a joint effect of self-signals from comparative choices and self-concept clarity on consumer value, such that positive self-signals lead to incrementally higher satisfaction and willingness to pay for consumers with low SCC but not significantly so for those with high SCC. Results show that this joint effect may occur for consumers with low SCC because they gain incremental value from perceived self-concept alignment – a state that is construed from the perception that a self-signal is aligned with the consumer's self-concept. This study contributes to marketing research by proposing and testing a novel mechanism that can underlie self-signaling.     

Business model innovation in strategic alliances: a multi‐layer perspective

Business model innovation (BMI) has recently become a topic of interest for research as well as corporate practice. However, we lack specific insights into actors, drivers, and different forms of BMI as the concept is by now mainly addressed in a very general way. In this paper, we analyze how BMI takes place in strategic alliances with the focus of enhancing the recent knowledge about BMI by developing a concept that links firm‐level BMI with alliance‐driven innovation of business models. Against the background of an in‐depth explorative qualitative study, we shed light on the basic nature business model innovation alliances (BMIA) and their effects on both, alliance level and firm level. We develop a process model of BMIA that is the first model providing a holistic picture of this particular type of BMI. Our findings allow for deep insights into BMI processes in incumbent companies and uncover in detail the importance of boundary spanning activities in this realm. By providing these insights, we pave the ground for a new stream of BMI research that focuses on the in‐depth understanding of the role of collaboration and network effects in recent BMI processes. In addition, we show practical benefits for partners in BMI alliances. These insights may help to overcome the traditional fear of negative effects that is still very often prevalent in companies when it comes to issues of partnering with firm external players in strategic issues.     

Basic Income in the Finnish Context

The goal of the Finnish experiment that started this year is to try to get some evidence on how a new social policy instrument mimicking a basic income would work and what kind of behavioural consequences it would have. At this point, there are many strong arguments being made both in favour of and opposed to basic income. Unfortunately, there are not enough facts yet. The Finnish experiment hopes to change that.     

Autonomous Driving — a Challenge for the Automotive Industry

The automotive industry is one of the most important industries in Europe. This industry is responsible for 14% of total production and capital investment in the European manufacturing sector, and in Germany the share amounts to 22%. Structural change within this crucial sector is of relevance for the whole economy. Along with alternative propulsion systems such as electromobility, (semi-)autonomous vehicles are one of the big trends in the automotive industry. For established providers, the possibility of disruptive change poses a threat to existing markets, while a gradual introduction of new technologies also increases competition. Nevertheless, with their strong market position in the premium segment and especially their relevant research activities, European and especially German automotive manufacturers are well placed to successfully master the coming challenges in the automotive market.     

ANFA — National Money Creation as an Existential Threat to the Currency Union?

The recent publication of the previously secret Agreement on Net Financial Assets (ANFA) directed the public’s attention to the possibility that national central banks could create money through purchases of securities on their own account. This paper provides an overview of the legal foundations for ANFA and shows the varying extent to which the member countries use these regulations. What are the interests, risks and consequences for the countries in crisis and the currency union as a whole? Is the ECB properly monitoring ANFA purchases? Could money creation via ANFA act as an explosive device for the currency union?     

Assessing Industrial Buyer Preferences: Using the Swait-Louviere Test to Test the Key Informant Assumption

When using professional buyers to study an organizations buying behavior an important consideration is whether their preferences reflect those of the organization. Since this is a key informant problem, the present article focuses on the issue of the degree to which key informants can be used to provide insights into their own organizations preferences. We conduct a direct test of the key informant assumption using the Swait-Louviere test. In this test preferences from a choice experiment using actual buyers, and from market decisions made by the organization, are estimated separately, then jointly in multinomial logit models. We found that buyers experimental preferences were similar to estimates obtained from the market decisions. Buyers preferences were closer to the intuitive preferences of the organizations top executives than the estimates based on past market decisions, although a model based on the combined data outperformed either. We discuss the implications of these results for industrial buying research.This revised version was published online in May 2005 with a corrected cover date.     

Contracting Under Endogenous Risk

Agents make decisions by trading off cost, return and risk. The literature, however, does not consider the impact of risk on action choice. We show that this tradeoff has important implications for the firm. First, the firm may provide no insurance in the salary. Since the agents action choice will determine her risk, the salary cannot compensate her for it. Second, the firm may not be able to design an incentive scheme to implement particularly risky actions. Finally, the firm may not be able to design a scheme in which the agent splits her effort across multiple tasks. This is particularly problematic for tasks that are technological substitutes.