Hybrid value creation: a systematic review of an evolving research area

This systematic review analyses literature on the work of hybrid value creation, i.e. the process of generating additional value by innovatively combining products (tangible component) and services (intangible component). A state of the art report on hybrid value creation is delivered by first systematically identifying and then analyzing 169 publications focusing on hybrid value creation. The identified publications are clustered into eight categories based on their links and interactions and thus a mapping of this evolving field is suggested. A discussion and reflection of the findings with respect to the pervasiveness of literature and the research methodologies used is provided. The paper concludes by identifying some dominant strategic gaps in the overall research landscape and provides directions for future research.     

Do employees reciprocate to intra-firm trainings? An analysis of absenteeism and turnover rates

This article contributes to the debate on the link between reciprocal motives of employees and HRM practices by studying the behavioral effects of intra-firm trainings on absence behavior and turnover probability. We apply the gift-exchange framework and offer a behavioral perspective that helps to explain why firms invest in trainings that provide mainly general skills. We argue that employees may reciprocate the gift of firm-sponsored training with higher levels of costly effort or commitment. We employ a stringent methodological approach based on panel data of a large multinational firm and find that, in contrast to human capital predictions, general trainings lead to a decrease in turnover rates. Most notably, we find the strongest effect for employees with the lowest levels of firm tenure. This is a quite novel result as this group should face the lowest separation costs, for instance, due to the accumulation of firm-specific human capital. Hence, intra-firm trainings are an important retention device, especially for newly or recently hired employees. Furthermore, a short-term decrease in absenteeism indicates a temporary, reciprocal reaction by employees.     

New ways of achieving debt sustainability beyond the enhanced HIPC Initiative

In 1996 the Heavily Indebted Poor Countries (HIPC) Initiative was launched by the Bretton Woods institutions to reduce the external debt burden of low-income countries (LICs) to sustainable levels in a reasonably short period of time because debt constitutes an obstacle to sustainable economic growth and poverty reduction. In some HIPCs, however, debt sustainability has been in danger despite debt relief under the HIPC Initiative. Debt relief is a necessary but not a sufficient condition for development. It can do no more than play a catalytic role. The question, then, is how to achieve debt sustainability beyond the HIPC Initiative.     

高昂的中国减排成本

未来20年中国必须大幅提高在控制温室气体方面的支出,否则自2030年起将面对巨额的减排成本。这一数字相当于中国2030年国内生产总值（GDP）估值的7．5％。     

Digitale Spaltung im Zeitalter der S?ttigung

Using Bourdieu??s Habitus-Capital theory and a representative dataset this study shows that social position influences internet use. The study is thus connected to the research about thedigital divide. A secondary analysis of the ACTA 2008 (n?=?7.623, representative of Germans between 14 and 64 years who use the internet) shows on the one hand that there are still gaps in internet usage (gender, generation, and education gap). On the other hand the results indicate acapital gap. Since the accumulation of capital in the internet is connected with education as well as economic status, there is a threat of a downward spiral: Those who have less capital (education, money) gather less internet knowledge. Since cultural capital influences a person??s social position, internet use enhances social inequality.     

SOVEREIGN INSOLVENCY PROCEDURES – A COMPARATIVE LOOK AT SELECTED PROPOSALS

Abstract.  The most practicable short-term approaches for sovereign debt restructuring would include a code of conduct (voluntary approach) and collective action clauses (contractual approach). In the medium term, a sovereign insolvency procedure (statutory approach) may have an important role to play because it would be a comprehensive instrument designed to coordinate different creditor groups prior to and during a debt crisis. This paper provides a survey of six comprehensive policy proposals for a sovereign bankruptcy procedure. It points to approaches that could improve existing proposals and creates a basis for new proposals which could prove conducive to reaching political consensus.