The determinants of business contribution to the 2030 Agenda: Introducing the SDG Reporting Score

Within the 2030 Agenda, the United Nations have explicitly required that the Member States introduce within their jurisdictions new forms of regulations about non-financial reporting practices. The aim of this paper is to investigate the effects related to the transposition of Directive 2014/95/EU by analyzing firm-level, governance-level, and report-level determinants of business reporting on the Sustainable Development Goals (SDGs). To conduct such an analysis, this study defines and introduces the SDG Reporting Score (SRS)—a qualitative proxy representing a firm orientation toward SDG reporting. The study sample includes the non-financial reports of 153 Italian Public Interest Entities. The results show a positive relationship between a firm's SRS and various determinants, such as the presence of independent directors on the board, expertise with non-financial reporting, and length of the report. Finally, the highest levels of SRS are achieved by firms operating in environmental sensitive sectors.     

Individual risk tolerance and herding behaviors in financial forecasts

Financial analysts tend to demonstrate herding behavior, which sometimes compromises accuracy. A number of explanations spanning rational economic logic, cognitive biases, and social forces have been suggested. Relying on an experimental setting where participants forecast future earnings from a rich information set, we posit and obtain support for individual risk tolerance (or lack thereof) as an explanatory variable for herding behaviors. Specifically, less risk‐tolerant individuals forecast with less boldness and instead issue forecasts in agreement with the consensus forecast. The results are argued to be at least partially a product of cognitive biases and an intuitive reaction to uncertainty.     

Fear and anger: antecedents and consequences of emotional responses to mobile communication

Many people fear that exposure to mobile phone base stations leads to severe health effects. In addition to those fears, many citizens are unsatisfied or even angry about prevailing base station site-selection procedures. In the present study, it was investigated how these emotions, i.e. fear and anger, determine risk and benefit perceptions and the acceptance of mobile communication. Using structural equation modeling, we found that benefit perception and the acceptance of mobile phone base stations were primarily determined by anger. Risk perception, in contrast was influenced by both emotions. In addition, controllability and fairness emerged as important cognitive appraisals, or antecedents, of fear and anger, while certainty was not related to these emotions. In sum, our findings highlight that fear and anger have specific influences on risk, benefit, and acceptance of mobile communication. Furthermore, the study provides an in-depth understanding of the antecedents that lead to emotional responses within the context of mobile communication. Implications for risk communication will be derived.     

Corporate governance and family firm performance during the Global Financial Crisis

We investigate the impact of corporate governance on accounting and market performance relationships of family firms during the Global Financial Crisis (GFC). We expect the monitoring aspects of corporate governance to complement the long-term orientation of family firms, improving the value relevance of accounting and market performance during times of exogenous financial shocks such as the GFC. We find that the family-firm value is more sensitive to book value than earnings changes. We also find better corporate governance, irrespective of whether it is a family firm or non-family firm, is associated with better accounting and market performance during the GFC.     

Gebrauchsanleitung für Expertenstandards

Probleme bei der Implementierung l?sen - Trotz der zunehmenden Akzeptanz von Expertenstandards im Pflegealltag zeigen sich bei der Implementierung immer noch deutliche Probleme. In den meisten station?ren und ambulanten Pflegeeinrichtungen sind daher die sieben bisher vom DNQP ver?ffentlichten Expertenstandards nur teilweise umgesetzt.     

Rating model arbitrage in CDO markets: An empirical analysis

We analyze whether information asymmetry between issuers and investors leads to rating model arbitrage in Collateralized Debt Obligation markets. Rating model arbitrage is defined as the issuer's deliberate capitalization of information asymmetry at the investor's cost on the basis of different rating processes. Using data from CDO transactions grouped by both rating agencies and underlying rating methodologies, we test for homogeneity of characteristic transaction features within the group and heterogeneity between the different groups. We find that the hypothesis stating non-existence of rating model arbitrage on the basis of information asymmetry does not hold as individual patterns of transaction characteristics within each group could be identified.     

The role of the customer–seller relationship in the intention of the customer to complain: A study of Chinese restaurateurs

The potential benefits of customer–seller relationships in the area of consumer complaints are seldom advocated, particularly in the relational oriented, Chinese society. The purpose of this paper is to explore how customer–seller relationships affect the intention of Chinese consumers to complain. Given that Chinese are collectivistic by nature, this paper also examined the effect of social approval and pressure on the act of complaining. Several relationships between personal attitudes, the subjective norm, perceived behavioral control, the extent of relational contact and the complaining intention of Chinese consumers were postulated. Results show that the complaining intention of Chinese consumers is influenced by customer–seller relationships and the social pressure on act of complaining while personal attitudes do not have any effect. Possible explanations for the results and implications for researchers and practitioners are presented.