Developing Maturity Models for IT Management

Maturity models are valuable instruments for IT managers because they allow the assessment of the current situation of a company as well as the identification of reasonable improvement measures. Over the last few years, more than a hundred maturity models have been developed to support IT management. They address a broad range of different application areas, comprising holistic assessments of IT management as well as appraisals of specific subareas (e. g. Business Process Management, Business Intelligence). The evergrowing number of maturity models indicates a certain degree of arbitrariness concerning their development processes. Especially, this is highlighted by incomplete documentation of methodologies applied for maturity model development.     

Zur Verteilung der Abschlusskosten in deutschen Lebensversicherungen

It will be shown that an amortization spread of the acquisition costs to the first N years of a classical german life insurance policy or lifelong annuity always leads to a non negative technical provision at the end of the first year if \( N\,{=}\,5 \) (and the technical provision starting with zero). For usual combinations of the age at entry and the policy duration even \( N\,{=}\,3 \) is sufficient for this purpose. The legal specification given by the new version of VVG in Germany concerning surrender value (i.e. positive value even in case of early lapse) is therefore consistent with the requirement of a amortization spread to 5 years. Additionally a recursion formula for the technical provision with N years spreaded acquisition costs is proven.     

Domestic tourism in FRG : Trends and problems

Participation on tourism of the population of the Federal Republic of Germany (FRG) has enormously increased. Domestic tourism, however, stagnates. The German tourist regions have to expect a significant decrease in visitors, since an increasing segment of the German holiday-makers (now two thirds) travels abroad. The German domestic tourism providers and vacation travel organizers have not yet fully realized the new trends in the travel behavior. The unfavorable trend can only be met through a continually increasing supply with vacation homes and apartments. Moreover, the various resort towns need to join regional tourism associations which are able to achieve a more effective regional marketing for smaller tourist regions. Preparations for the establishment of regional tourism associations and programs for a subsidization of regional marketing plans are imminent.     

Auctions with variable supply: Uniform price versus discriminatory

We examine an auction in which the seller determines the supply after observing the bids. We compare the uniform price and the discriminatory auction in a setting of supply uncertainty, where uncertainty is caused by the interplay of two factors: the seller's private information about marginal cost and the seller's incentive to sell the profit-maximizing quantity, given the received bids. In every symmetric mixed strategy equilibrium, bidders submit higher bids in the uniform price auction than in the discriminatory auction. In the two-bidder case, this result extends to the set of rationalizable strategies. As a consequence, we find that the uniform price auction generates a higher expected revenue for the seller and a higher trade volume.     

Does Inclusion in a Smaller S&P Index Create Value?

This study finds overall increases in equity value surrounding addition to the S&P SmallCap and MidCap indexes from 1996 to 2003 and investigates sources of the value gains. Following addition, there are significant increases in proxy variables for stock liquidity and investor recognition, and changes in these variables are impounded into the permanent component of announcement share price revisions. We also find that changes in capital investment intensity are increasing in changes in stock liquidity, consistent with a reduction in the cost of capital following index addition.     

Strategic human resource management at Lucent

This article describes the HR Management system in place at Lucent Technologies, Inc. Lucent's HR structure is organized around a client service model that focuses on the leaders in the major business units and the movement of as much of the HR infrastructure as possible to these business units. Key emphases include (1) HR operational excellence, (2) compensation and performance management that encourages employees to build a successful future with the firm, as well as to share in that success, and (3) building an operating style and culture that supports Lucent's mission and strategy. Key challenges for the future include (1) organizational renewal in a period of growth, (2) identifying and developing new HR competencies, (3) developing a unique HR structure to support the needs of HR at Bell Labs, and (4) effective labor relations in a rapidly changing industry. © 1999 John Wiley & Sons, Inc.     

The Effect of CEO Extraversion on Analyst Forecasts: Stereotypes and Similarity Bias

In an experiment with professional analysts, we study their reliance on CEO personality information when producing financial forecasts. Drawing on social cognition research, we suggest analysts apply a stereotyping heuristic, believing that extraverted CEOs are more successful. The between‐subjects results with CEO extraversion as treatment variable confirm that analysts issue more favorable forecasts (earnings per share, long‐term earnings growth, and target price) for firms led by extraverted CEOs. Increased forecast uncertainty leads to even stronger stereotyping. Additionally, personality similarity between analysts and CEOs has a large effect on financial forecasts. Analysts issue more positive forecasts for CEOs similar to themselves.     

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.