Digitalisierung für Gesundheit — ökonomische Aspekte des Gutachtens des SVR Gesundheit

Wirtschaftsdienst - Am 24. März 2021 hat der ?Sachverständigenrat zur Begutachtung der Entwicklung im Gesundheitswesen“ sein Gutachten ?Digitalisierung für...     

Voicing Moral Concerns: Yes,But How? The Use of Socratic Dialogue Methodology

After a selective review of relevant literature about teaching business ethics, this paper builds on a summary of Fred Bird’s thoughts about the voicing of moral concerns provided in his book about moral muteness (Bird in The muted conscience, 1996). Socratic dialogue methodology (in the tradition of L. Nelson and G. Heckmann) is then presented and the use of this methodology is examined, for business ethics teaching in general, and for addressing our paper topic in particular. Three short form Socratic dialogues about the paper topic are summarized for illustration, together with preparation and debriefing suggestions for a Socratic dialogue unit as part of a business ethics course. In conclusion, Socratic dialogue design is related to the experiential learning approach, and characterized by a few basic traits, which imply both risks and opportunities for business ethics teaching.     

Properties of emerging organizations: empirical evidence from Norway

The process of new venture creation is of central importance to entrepreneurship. The effects of initial organizing have a direct effect on survival, yet empirical examination of the dimensions of emerging organizations is limited. Using longitudinal data on 203 nascent entrepreneurs from Norway over the course of four years (1996?C1999), this paper empirically tests four properties of emerging organizations??intentionality, resources, boundary, and exchange??and their effect on the likelihood of continuing the organizing effort (Katz and Gartner, Acad Manage Rev 13(3):429?C441, 1988). Consistent with previous research, our results suggest that organizations which engage in a greater number of organizing activities are more likely to continue the organizing effort. In addition, intentionality, boundary, and exchange are positively associated with organizational emergence, whereas resources are a necessary, but not sufficient, condition for organizations to continue organizing. The concentration of organizing activities is also positively associated with the likelihood of continuing the organizing effort.     

Are born globals really born globals? The case of academic spin-offs with long development periods

Most research on the born global phenomenon investigates firms from the point of their legal founding. Studies in the field of entrepreneurship show nonetheless that international firms undergo long pre-founding periods, which are likely to affect growth and internationalization in newly founded firms. In this study, we investigate three academic spin-offs with advanced technologies that are attractive in a global market. These firms had experienced extended time in developing their technologies, two of them in pre-founding periods. We examine here the networks of academic spin-offs in three stages: idea conception, technology development, and growth and internationalization. The research builds on diverse theories: born global theory, research on academic spin-offs, entrepreneurial firms, and network theory. We use a multiple case study to investigate the three spin-offs and a process approach in interviewing that includes the biographic histories of the focal firms. In analysis, we identify networks that provide financial resources, knowledge, innovation and technology resources, marketing, and reputational resources. Networks acquired at different stages and network changes greatly affected growth and internationalization in the focal firms. We also find that networks and resources acquired in pre-founding periods had great implications for growth and internationalization in the young firms. Our research therefore highlights the problem of age in the born global literature and we argue for the need to include pre-founding periods to better understand the born global phenomenon.     

Expected EPS and EPS Growth as Determinantsof Value

This paper develops a parsimonious model relating a firm’s price per share to, (i), next year expected earnings per share (or 12 months forward eps), (ii), short-term growth (FY-2 versus FY- l) in eps, (iii), long-term (asymptotic) growth in eps, and, (iv), cost-of-equity capital. The model assumes that the present value of dividends per share (dps) determines price, but it does not restrict how the dps-sequence is expected to evolve. All of these aspects of the model contrast sharply with the standard (Gordon/Williams) text-book approach, which equates the growth rates of expected eps and dps and fixes the growth rate and the payout rate. Though the constant growth model arises as a peculiar special case, the analysis in this paper rests on more general principles, including dividend policy irrelevancy. A second key result inverts the valuation formula to show how one expresses cost-of-capital as a function of the forward eps to price ratio and the two measures of growth in expected eps. This expression generalizes the text-book equation in which cost-of-capital equals the dps-yield plus the growth in expected eps.This revised version was published online in August 2005 with a corrected cover date.     

Financial markets at the crossroads: Fears of a great crash

Not so long ago the international financial markets were being acclaimed as the cure-all for debt crises and interest rate and exchange rate risks, but new developments are giving increasing cause for concern, as the Deutsche Bundesbank¹ noted recently. Pessimists are spreading a mood of disaster and are already predicting the collapse of the world financial system.² What is the basis for such fears? How serious is the danger of a crash?     

Beeinflussen Politiker das Ergebnis von nationalen Steuerschätzungen?

As voters increasingly favour sound public finances, solid budgets serve as an important quality signal. National tax revenue forecasts are a core element of national budget plans. Therefore, politicians might be tempted to influence them strategically. Examining 18 OECD countries from 1996 to 2012, the authors explore whether national tax revenue forecasts are manipulated by politicians. Their evidence points to partisan politics and the influence of fragmentation. Surprisingly and in contradiction to the theoretical conclusions from the ‘common pool’ problem, more fragmented governments or parliaments seem to underestimate tax revenues. There is no empirical evidence to support opportunistic behaviour, i.e. that tax revenue forecasts lead to political business cycles.     

Currency trading and international financial instability

During the past year, global capital markets have experienced an unprecedented series of financial turmoils. Asian contagion, Russia's default and the collapse of the US hedge fund Long Term Capital Management (LTCM) are the low points of this development. As recent events in Latin America and elsewhere indicate, there is no prospect that markets worldwide will lastingly calm down soon. There is an abundance of proposals and suggestions on how the system should be stabilised. The most popular among them include the control of capital flows and hedge-fund activities. The following article draws attention to another element of financial instability which at times triggers, at times fuels, a crisis: expectation-driven foreign exchange transactions.