Gender Differences in Entrepreneurial Propensity*

Using data from representative population surveys in 17 countries, we find that the lower rate of female business ownership is primarily due to women's lower propensity to start businesses rather than to differences in survival rates across genders. We show that women are less confident in their entrepreneurial skills, have different social networks and exhibit higher fear of failure than men. After controlling for endogeneity, we find that these variables explain a substantial part of the gender gap in entrepreneurial activity. Although, of course, their relative importance varies significantly across countries, these factors appear to have a universal effect.     

Moral licensing: a culture-moderated meta-analysis

Moral licensing is a cognitive bias, which enables individuals to behave immorally without threatening their self-image of being a moral person. We investigate this phenomenon in a cross-cultural marketing context. More specifically, this paper addresses the questions (i) how big moral licensing effects typically are and (ii) which factors systematically influence the size of this effect. We approach these questions by conducting a meta-analysis and a meta-regression. Based on a random effects model, the point estimate for the generalized effect size Cohen’s d is 0.319 (SE = 0.046; N = 106). Results of a meta-regression advance theory, by showing for the first time that both cultural background and type of comparison explain a substantial amount of the total variation of the effect size of moral licensing. Marketing practitioners wishing to capitalize on moral licensing effects should therefore consider cross-cultural difference, since marketing measures building on this effect may lead to different revenues in different countries.     

Existence of valuation equilibria when equilibrium strategies cannot differentiate between equal ties

This paper reconsiders the valuation equilibrium concept (Jehiel and Samet, 2007) and proposes an additional regularity condition concerning the players? equilibrium strategies. The condition, which requires equilibrium strategies to induce the same local behaviour at all nodes with “similar” optimal actions, increases both the predictive power and the internal consistency of the concept — especially when used as a tool to study boundedly rational behaviour in games with imperfect information and/or imperfect recall. It is shown not to conflict with existence.     

How to design virus containment policies? A joint analysis of economic and epidemic dynamics under the COVID-19 pandemic

Journal of Economic Interaction and Coordination - We analyze the impact of different designs of COVID-19-related lockdown policies on economic loss and mortality using a micro-level simulation...     

?Wir sind besser als die anderen??

The paper applies social psychology??s results on the theory of social comparison to media content. The finding that people tend to evaluate themselves better than they evaluate others, even if there is no foundation for that in reality, presents the starting point of these considerations. Such an optimistic bias can also be observed in social groups. It is established and distributed in small groups by interpersonal communication and contributes to the individuals?? identification with the group and, thus, to the group??s stability. The paper argues that this phenomenon should be applicable to larger social groups such as religious and ethnic groups or social strata. In these cases, the optimistic bias would have to be communicatively distributed through the media. We introduce a theoretical model that combines the role of media content, its individual reception and processing, and the reciprocal effect of processing on social structure. Subsequently, first empirical evidence of optimistic-bias presentations in media discourses is presented, and resulting problems for future research are discussed.     

Environmental,social and governance reporting in annual reports: A textual analysis

Considering environmental, social, and governance (ESG) factors becomes increasingly important for companies and investors. However, “ESG” is not clearly defined so far and, therefore, it is difficult to measure the ESG activity of companies. We analyze the extent and changes in 10‐K reports and proxy statements on ESG, using a textual analysis and creating an ESG dictionary. The results show an average of 4.0 % ESG words on total words in the reports. The ESG word list with 482 items can be used to quantitatively examine the extent of ESG reporting, which will be helpful especially for SRI investors. Our classification of 40 subcategories allows a highly granular analysis of different ESG related aspects. Moreover, indications for a relation between changes in reporting and real events, especially negative media presence, are detected. Regulatory bodies have to be aware of the use of such words and how they are used.     

Do it separately or simultaneously—An empirical analysis of a conjoint implementation of TQM and TPM on plant performance

Over the last decades, Total Quality Management (TQM) and Total Productive Maintenance (TPM) have become key concepts for improving production. The majority of modern manufacturing companies has implemented at least one of these improvement programs or even both of them. The common ground of TQM and TPM is the focus on human resources. In this paper, the impact of TQM and TPM on plant performance and especially the supporting role of employee involvement practices is investigated empirically using multiple regression analysis and structural equation modeling. The data used for conducting the analyses is taken from the international research project High Performance Manufacturing that contains the data of 238 plants. The results indicate that TQM and TPM, supported by HR practices, have a significant potential to improve plant performance. However, a simultaneous implementation of both concepts does not necessarily lead to superior performance. As potential reason for this, human resources are regarded as limiting factor both improvement programs draw on. Accordingly, this scarce resource is identified as crucial element with respect to performance when implementing TQM and TPM simultaneously.     

Bewertung der Fair Value-Bilanzierung von Versicherungsverträgen anhand der IASB-Zielsetzungen

The International Accounting Standards Board (IASB) published the Exposure Draft ?Insurance Contracts“ in July 2010. This standard draft is the basis for the final IFRS for accounting of insurance contracts and will replace the currently valid interim standard IFRS 4. In its Discussion Paper from May 2007 the IASB proposed the valuation of insurance liabilities based on a Current Exit Value. However, in the Exposure Draft the board changed his opinion (not at least due to the visible consequences of the last financial crisis) and follows an approach based on so called fulfillment cash flows. This new approach is different in many details and aims at creating a greater objectivity. Goal of this article is firstly to introduce the target valuation model and to judge it based on criteria developed in the paper. Furthermore, alternatives that could be applied in a final standard shall be shown.