Compensation schemes,liquidity provision,and asset prices: an experimental analysis

In an experimental setting in which investors can entrust their money to traders, we investigate how compensation schemes affect liquidity provision and asset prices, two outcomes that are important for financial stability. Compensation schemes can drive a wedge between how investors and traders value the asset. Limited liability makes traders value the asset more than investors. To limit losses, investors should thus restrict liquidity provision to force traders to trade at a lower price. By contrast, bonus caps make traders value the asset less than investors. This should encourage liquidity provision and increase prices. In contrast to these predictions, we find that under limited liability investors increase liquidity provision and asset price bubbles are larger. Bonus caps have no clear effect on liquidity provision and they fail to tame bubbles. Overall, giving traders skin in the game fosters financial stability.     

The impact of personality traits on talents’ performance throughout development phases: empirical evidence from professional football

ABSTRACT

This paper addresses a critical gap in talent management research, i.e. the question of what determines high performance, by highlighting the importance of personality traits for the performance of talents who are trained within the strong situation of a pivotal talent pool – – the talent pool, of a German Bundesliga club. The findings illustrate the ubiquitous high level of certain personality traits among pivotal talents, their limited variance inter talent development phases as well as their significant impact on talent performance. As a complement to talents’ job-specific skill level, the personality facet of self-confidence is a consistent driver of overall performance, with resilience and job-specific creativity being essential in order to perform above peer-group level.     

Entrepreneurial orientation in sports entrepreneurship - a mixed methods analysis of professional soccer clubs in the German-speaking countries

In recent years, sports entrepreneurship has emerged as a promising discipline in the field of sports management research. However, the research field is still fragmented. This study gives an overview of sports entrepreneurship and coopetition research and is the first work analyzing EO and performance in professional sports. First, quantitative results about EO, organizational performance and coopetition of 22 professional soccer clubs were obtained. Following the mixed method approach, the data was then extended by qualitative expert interviews. Entrepreneurial orientation had a significant positive relationship with both financial and sporting performance of professional soccer clubs in German-speaking countries during the 2017/18 season. We suggest coopetition as a promising strategy for professional soccer clubs to succeed. Hence, our study fosters the concept of sports entrepreneurship and offers evidence that entrepreneurial orientation is a well-suited managerial approach to enhance organizational performance in professional soccer.

     

My username is IN! The influence of inward vs. outward wandering usernames on judgments of online seller trustworthiness

Previous research showed that words for which the consonant articulation spots wander from the front of the mouth to the back (e.g., EPOK; inward) are preferred over words with the reversed sequence (e.g., EKOP; outward). In the present research, we extended this effect to judgments of online seller trustworthiness and choice of transaction partners. In seven experiments in the context of the online auction market eBay, we show that the mere use of inward compared to outward usernames increases the level of trustworthiness ascribed to online sellers (Experiments 1A, 1B, 2, 4A, 4B) and the likelihood that a seller is chosen for the economic transaction (Experiment 5). As a boundary condition, this effect is reduced when diagnostic information about the seller's reputation is introduced (Experiment 3). We discuss these results in terms of their practical implications for marketing strategies of online sellers and in terms of their relation to research on interpersonal trust.     

Oh my gosh,I got to get out of this place! A qualitative study of vicarious embarrassment in service encounters

Vicarious embarrassment is a negative emotion, which is experienced by an individual when others misbehave. People can feel vicariously embarrassed when observing other people's pratfalls or awkward appearance. For instance, vicarious embarrassment is elicited when watching reality TV or in service encounters where many other customers are present. However, the relevance of vicarious embarrassment in physical service environments has not yet been thoroughly analyzed in the context of service encounters. The objective of the present study is to close this research gap and to introduce the phenomenon of vicarious embarrassment to service research. The findings of 25 in‐depth interviews indicate that vicariously embarrassing incidents mostly occur in service encounters and that these incidents are triggered by the violation of social norms in both customer‐to‐customer and customer‐to‐employee interactions. The authors of the present paper identified closeness of relationship, the service context, and parties involved as important situational variables influencing vicarious embarrassment and further emotional, cognitive, and behavioral consequences for the observing person. From a managerial point of view, the relevance of vicarious embarrassment in physical service environments is caused by negative spillover effects of the service experience, which lead to decreasing customer satisfaction, negative word‐of‐mouth and purchase intentions, and a negative impact on the overall image of the service provider.     

Welche Abstimmungsmuster liegen dem Brexit-Referendum zugrunde?

The Brexit referendum of 23 June 2016 is a key moment in British post war political history. This article describes the voting outcome and analyses the underlying explanatory factors. The vote was only weakly related to EU trade and economic policy. Instead, concerns about immigration seemed more important, in particular in areas that are characterised by low levels of immigration. Dissatisfaction with general economic circumstances and poor public service provision also played an important role.     

Global Navigation Satellite System based tolling: state-of-the-art

Road pricing or road user charging may be understood as an economic concept regarding direct charges applied for using roads. Different pricing paradigms may be distinguished mainly refering to pricing of congested, non-expandable urban networks as well as pricing of expandable, uncongested (principally, interurban) road infrastructure. Numerous technologies within Intelligent Transport Systems can provide support in efficiently applying various charging mechanisms. Recently, among others, tolling systems have been deployed that rely on the Global Navigation Satellite System (GNSS). The purpose of this paper is to discuss the state-of-the-art of using GNSS technology in road user charging.     

Who gets promoted? Personality factors leading to promotion in highly structured work environments: evidence from a German professional football club

Much of the research on how human capabilities contribute to labour market success focuses on traditional human capital predictors. However, researchers are becoming increasingly aware of the important role of personality traits in determining individual labour market outcomes, both positive and negative. Using data from young professional football players in Germany, this study investigates the relationship between individual personality traits and cognitive abilities on career success. Our results suggest that individuals who score low on the tendency to be principled but high on cognitive processing speed are significantly more likely to enjoy career success through job promotion.     

Entrepreneurship of an institutional field: the emergence of coworking spaces for digital business models

International Entrepreneurship and Management Journal - Coworking spaces have been proliferating world-wide in urban and rural areas while facilitating entrepreneurship and new, especially digital...