The value of ongoing venture capital investment to newly listed firms

We examine whether the market values continuing venture capital (VC) investor involvement in firms post-IPO. Compared to the US, Australian VC investors exit their investments post-IPO by on-market sales rather than distribution of holdings to their investors. Lockup periods tend to be longer and ownership thresholds for reporting trades lower. We find that the market responds positively to buy transactions, negatively to sell transactions of VC investors and negatively to the resignation of VC directors. These results are consistent with VC investors in the firm having a positive influence and creating value from which the VCs and other shareholders benefit.     

Balancing health,harmony and hegemony: Parents' goals and strategies in children's food related consumer socialization

Parents play a pivotal role in socializing their children for healthy eating. The objectives of the present study were (1) to identify food socialization outcomes valued by parents, and (2) to study how parents socialize their children for (healthy) eating at home and during food shopping. Including both parents' perceptions of valued food socialization outcomes and associated processes addresses a significant gap in the food socialization literature. The study used semi‐structured, in‐depth interviews with parents of young children. Data were subsequently analysed by interpretive, thematic procedures. The sample consisted of middle‐ to high‐income families from two cities in Denmark. Findings reveal four main food socialization goals valued by parents: (1) Nutrition and Health, (2) Healthy Relationship with Food, (3) Food Assimilation and (4) Self‐Regulation and Autonomy. Parents prioritized children's acquisition of a healthy relationship with food which included preserving family relations and harmony, more than strictly attending a nutritious diet, contrasting the focus on the nutritional value of diet usually emphasised by public health authorities. The study therefore concludes that parents' notions of what constitutes healthy diets for their children is not completely aligned with common nutrition‐oriented recommendations. Also, fathers were found to play a very active role in their children's food‐related consumer socialization. The findings underline the importance of addressing the priorities and strategies of both mothers and fathers when marketers and policy makers target contemporary families regarding children's food socialization.     

Human development and cross-border acquisitions

We examine the role of human development in US companies' decisions to engage in cross-border acquisitions. Utilizing the human development index (HDI) published by the United Nations Development Program (UNDP), we find that US firms make acquisitions in countries with strong HDI levels. Alternative factors such as institutional quality, life expectancy, telephone usage and school enrolments also have a positive influence on the cross-border acquisition decision. Further, we find a positive relationship between cross-border mergers and acquisitions (M&As) and HDI rankings relative to the United States. Our findings contribute to the literature that seeks to explain why so little capital flows from developed to developing economies.     

Ein Reservierungsverfahren für die Rechtsschutzversicherung nach Art der Lebensversicherung

In this paper we introduce a new approach to the calculation of claims reserves (known and IBNR cases) which is particularly adapted to the business model of legal expense insurance. An essential aspect here is the split into two model components: case numbers and average claim costs. In contrast to other reserving methods for case numbers and claims cash flows which are frequently used in practice without checking the validity for application we introduce a model in which the time until case settlement is described by a lifetime distribution according to the principles of life insurance. The split of model components also allows for a simple implementation of cost inflation effects which is required by German law. Finally, the approach proposed here can readily be transferred to the calculation of IBNR reserves.     

Quotes on China's Development Problems

Crisis influence on China＇s three driving forces
The financial crisis didn＇t influence the consumption （one of the three driving forces） much, but indeed influence the trade （negative effects）, and the investment （stimulating effects）.     

Using vignettes to study family consumption processes

The use of vignettes for qualitative consumer research is discussed in this article. More specifically, vignettes are proposed as a useful research technique for conducting systematic and rigorous studies of consumer interaction processes, in particular as these relate to family consumption issues. Following an overview of methodological and practical problems of studying consumption interaction processes in families, a discussion of how vignettes may be used to enhance knowledge of family decision‐making processes in real‐life contexts is presented. Design implications are discussed and strategies for applying the vignette method are outlined and illustrated by two recent studies of pro‐environmental consumer behavior in a family context. The paper concludes with a discussion of the benefits and the possible pitfalls of using vignettes. © 2010 Wiley Periodicals, Inc.