On-line/Off-line: Joint Negotiation Teaching in Montreal and Vienna

E-business systems, the most recent generation of information systems, can be effectively used in teaching. One such system was developed and used in a collaborative project that involved teaching of negotiation theory and practice to students from Austria and Canada. The system provides customized course materials and a platform to conduct various e-negotiation activities. The design allows combining e-learning technologies designed to support students in their independent and individual learning with conventional face-to-face training. Our experience indicates that professional negotiation training accompanied by e-learning, and tools to support decision-making and negotiation can foster students' appreciation of the technology as well as demonstrate its limitations. The combination of technology-intensive and conventional resources contributed to students' awareness of social influences on negotiations, importance of communication, and focussed their attention on the problem and its solution. Deeper customization of the course content and delivery may further contribute to effective learning and acquiring of both communication and analytical skills.     

Understanding customer satisfaction in opera: first steps toward a model

• Despite the frequent call for a strengthened customer orientation in performing arts organizations, no efforts have been made to investigate customer satisfaction in opera so far. The paper aims at filling this gap by suggesting a first integrative model of customer satisfaction in opera. This model integrates insights from both services marketing literature (i.e., general services marketing and performing arts marketing) and performing arts literature (i.e., music perception and theater studies). The model is tested in a field study interviewing 116 visitors of a public German opera house. Results reveal visitors' level of appraisal to be the main antecedent of their satisfaction, followed by their perception of the artistic quality, empathy/identification with the actors on stage, and recall from memory. Furthermore, differences within the audience regarding the relative importance of the antecedents of customer satisfaction in opera are investigated. Using gender and attendance frequency as segmentation variables, only minor differences are found, though. Managerial implications for opera marketing are discussed in conclusion. First, efforts in opera marketing should rather concentrate on the core service quality instead of the peripheral service quality. Second, professional opera companies may attract broader audiences if they focus on the emotional satisfaction of their customers. Third, since only minor and mostly insignificant differences between men and women, and occasional compared to frequent visitors are found, a need for further research to explore alternative segmentation variables in the opera context is identified.

Copyright © 2010 John Wiley & Sons, Ltd.     

Financial markets and the current account: emerging Europe versus emerging Asia

Financial globalisation has been associated with divergent current account patterns in emerging markets. In this paper we test for the relevance of financial market characteristics in explaining different current account patterns in emerging Europe and emerging Asia. We find that better developed and more integrated financial markets increase emerging markets’ ability to borrow abroad. The degree of financial integration within the convergence clubs as well as the extent of reserve accumulation are found to be the most significant factors to explain divergent current account patterns in emerging Europe and emerging Asia.     

Socioemotional wealth and IPO underpricing of family firms

Socioemotional wealth (SEW), i.e., the noneconomic utility a family derives from its ownership position in a firm, is the primary reference point for family firms. Family firms are willing to sacrifice economic gains in order to preserve their noneconomic utility. Thus, we argue that family firms sacrifice IPO proceeds by choosing higher IPO underpricing than nonfamily firms if underpricing helps them protect their SEW. Our empirical results, based on a sample of 153 German IPOs, support our hypothesis. On average, family firms have 10 percentage points more IPO underpricing than nonfamily firms. Copyright © 2014 John Wiley & Sons, Ltd.     

Cross-ownership as a structural explanation for over- and underestimation of default probability

Based on the work of Suzuki, we consider a generalization of Merton’s asset valuation approach in which two firms are linked by cross-ownership of equity and liabilities. Suzuki’s results then provide no arbitrage prices of firm values, which are derivatives of exogenous asset values. In contrast to the Merton model, the assumption of lognormally distributed assets does not result in lognormally distributed firm values, which also affects the corresponding probabilities of default. In a simulation study we see that, depending on the type of cross-ownership, the lognormal model can lead to both over- and underestimation of the actual probability of default of a firm under cross-ownership. In the limit, i.e. if the levels of cross-ownership tend to their maximum possible value, these findings can be shown theoretically as well. Furthermore, we consider the default probability of a firm in general, i.e. without a distributional assumption, and show that the lognormal model is often able to yield only a limited range of probabilities of default, while the actual probabilities may take any value between 0 and 1.     

Stürzen vorbeugen

Zusammenfassung  Prophylaxen in der Pflege — Je ?lter Menschen sind, desto h?ufiger passieren Stürze. In der Gruppe der über 70-J?hrigen stürzt mehr als ein Drittel mindestens einmal. Eine der gravierensten Folgen dabei der Oberschenkelhalsbruch: In Deutschland sind es bis zu 100.000 Frakturen pro Jahr. Sturz ist damit ein relevanter Kostenfaktor für das Gesundheitswesen.     

Kontrakturen

Zusammenfassung  Prophylaxen in der Pflege — Im Vergleich zu T?nzern haben die meisten Menschen „Kontrakturen“, denn Muskeln und B?nder bleiben nur so lange dehnungsf?hig, wie es für den t?glichen Gebrauch erforderlich ist. Zudem versch?rfen Erkrankungen der Gelenke, Muskeln, Sehnen, B?nder und Narbenzüge das Problem. Kontrakturen sind also ein Ph?nomen, gegen das angegangen werden muss, damit keine Bewegungseinschr?nkungen entstehen.