Conflict of interest and certification in the U.S. IPO market

We examine the long-term return performance of U.S. IPOs underwritten by relationship banks. We show that, over one- to three-year horizons, IPOs managed by relationship banks experience buy-and-hold benchmark-adjusted returns that are similar to those observed for a matching sample of stocks managed by non-relationship underwriters. This result holds even when the returns' skewness and cross-sectional correlation is accounted for. Further, we examine the calendar-time returns on a portfolio that is long the stocks underwritten by relationship banks and short ex-ante similar stocks taken public by non-relationship institutions. Again, we conclude that the two groups of IPOs yield similar long-run returns. These findings support the certification role of relationship banks and suggest that, in this respect, the effect of the 1999 repeal of Sections 20 and 32 of the Glass–Steagall Act has not been negative.     

Institutions Matter: Union Solidarity in Hungary and East Germany

This study examines the extent of union solidarity in two post-communist countries, Hungary and east Germany. It tests the hypothesis that post-communist union members are sceptical and unsupportive of their new interest representation owing to a legacy of disappointing experiences with their former communist unions. A survey of the union members, the first of its kind, in the Hungarian and east German clothing industry revealed strong differences between members' attitudes in both countries: east Germans were highly committed and supportive of their new union and works councils, whereas Hungarians lacked support for their institutions. The study points to the complexities of former and current attitudes and rejects the generic use of a communist legacy thesis. Instead, it links members' attitudes to the different institutional context of interest representation in the two countries. It argues that the dual system of interest representation in Germany facilitates members' trust in their new institutions, whereas the decentralized, overlapping institutions on Hungarian shop-floors impede union solidarity.     

German and British Consumer Willingness to Pay for Beef Labeled with Food Safety Attributes

The European Union has implemented some of the most stringent food safety policies for beef globally, ranging from banning growth hormones to mandating country of origin labeling. Using choice experiments and random parameter logit models, we examine German and British consumer willingness to pay (WTP) for American, Canadian, Argentinian, French, German and British beef, quality assurance seals, hormone‐free beef production and a gourmet label. We also determine how consumer WTP for these food safety and quality attributes is affected by the extent to which consumers consider food safety issues (FSI). Results indicate that British consumers had the lowest WTP for beef from Argentina and German consumers had the lowest WTP for beef from Great Britain. The hormone‐free label was the relatively most preferred label by consumers in both countries, and by those who considered FSI to affect their meat consumption patterns.     

A Critical Assessment of the Theoretical and Empirical Research on German Works Councils

The article reviews the existing English- and German-speaking literature on the German works council. Three major research topics are discussed: the ontology and typologies of works councils; their current practice and transformation; and their economic outcomes. Although much research has been conducted on the internal functioning of the works council–management relationship, it is clear that we still know little about the determinants of different workplace relations and their outcomes. The article concludes by advocating a reviving research interest in the link between codetermination and political democracy.     

Restaurant Customers’ Perceptions of Noise and Their Satisfaction and Loyalty Behaviors

This exploratory study expands the current literature on servicescapes by examining the total noise environment in restaurants and the impact of ambient noise levels and general restaurant attributes on customer satisfaction and loyalty behavior, defined as the customer's willingness to return to a restaurant and motivation to recommend it. The researchers surveyed guests at one casual dining restaurant in the Southwestern United States. The results showed that services, physical attributes, and quality of food and beverage had significant impact on overall satisfaction, overall atmosphere, and loyalty behaviors. Noise level factors such as effects of noise and appropriateness of noise levels, influenced overall satisfaction, but not loyalty behaviors.     

Does economic transformation undermine union collectivism? The case of East German textile workers

There is a widespread hypothesis that union members in East Germany are strongly individualistic, passive and instrumental with regard to their collective interest representation. This article examines the extent to which East German union members can be thus characterised and reveals that people were difficult to classify as pure ‘individualists’ or pure ‘collectivists’.     

Stakeholder-Defined Corporate Responsibility for a Pre-Credit-Crunch Financial Service Company: Lessons for How Good Reputations are Won and Lost

This paper presents a study that identifies a stakeholder-defined concept of Corporate Responsibility (CR) in the context of a UK financial service organisation in the immediate pre-credit crunch era. From qualitative analysis of interviews and focus groups with employees and customers, we identify, in a wide-ranging stakeholder-defined concept of CR, six themes that together imply two necessary conditions for a firm to be regarded as responsible—both corporate actions and character must be consonant with CR. This provides both empirical support for a notable, recent theoretical contribution by Godfrey (in Acad Manag Rev 30:777–798, 2005) and novel lessons for reputation management practice.     

Sport statt Sturz

Pr?vention ist ein Muss - Schmerzhafte H?matome, Frakturen, schwerste Kopfverletzungen k?nnen – neben Folgesch?den – auch zu erheblichen Therapiekosten führen. Deshalb geh?ren Ma?nahmen zur Sturzpr?vention in den Pflichtenkatalog von Pflegeeinrichtungen. Im Berliner Sanatorium West werden Risiken erfasst und Ma?nahmen abgeleitet.     

A comparison of planners' site-selection intentions towards a sustainability reward program,location, and overall costs

Previous research indicates that environmental attitudes do not always translate into environmentally sustainable behavioral intention. The current research uses sustainability reward programs as incentives for people to have environmentally friendly behavioral intentions. Specifically, this study investigates how sustainability reward program affect meeting planners' site-selection intention in comparison with other factors such as location and overall costs. While the results of the study discover that the effect of sustainability reward programs was not significant for planners' site-selection intention, considerable differences were found on the effects of other factors between different types of planners. The findings provide important theoretical and practical implications.