„Full Range Leadership“-Modell: Kritische Würdigung und Anregungen zur Weiterentwicklung

Zusammenfassung  Transformationale Führung als inspirierendes und emotional aktivierendes Führungsverhalten erf?hrt aufgrund ihrer Wandlungsfunktion in gesellschaftlichen Umbruchsphasen eine sehr hohe Wertsch?tzung, auch wenn ihr Gegenüber, die transaktionale Führung, in der Praxis derzeit wohl noch eine st?rkere Verbreitung besitzt. Ein Abgleich transformationaler und zugleich transaktionaler Führung in ihrer fortentwickelten Form als Full Range Leadership Modell mit den Charakteristika des Ph?nomens Führung offenbart zentrale Schwachstellen. An diesen Punkten setzen überlegungen zu einer Aufwertung transaktionaler Führung mittels einer Integration effektiven aufgaben-, beziehungs- und wandlungsorientierten Verhaltens in das Full Range Leadership Modell an. Zudem bietet ein „führungspraktischer“ Ausblick einen Denk- und Handlungsansatz, der von einem wechselseitigen Einflussverh?ltnis ausgeht und Situationsfaktoren modellimmanent berücksichtigt.

A neglected contribution to monetary theory in the eighteenth century: Anders Wappengren on paper money,floating exchange rates,and purchasing power parity

Abstract

Between 1789 and 1803 the National Debt Office issued unbacked interest bearing notes whereas the Bank of Sweden issued silver backed notes. The massive note issuance by the National Debt Office led to different exchange rates and two units of account. The situation gave rise to an early paper standard theory formulated by Anders Wappengren, a well-read merchant who was strongly influenced by Adam Smith and the French physiocrats. Wappengren had a firm understanding of monetary systems and the adjustment mechanism under floating exchange rates, including such concepts as purchasing power parity and price stickiness.     

Forecasting Turkey’s Credit Ratings with Multivariate Grey Model and Grey Relational Analysis

The concept of credit rating rooted back to mid-nineteenth century has become one of the most important elements in the world economy together with the globalization period gradually accelerating in the last two decades and increasing the interaction and sensitivity in the international markets. With the globalization and deepening in the financial markets; the effect, reliability and stability of knowledge of the actors who are in charge for directing the global capital flows have quite a big importance in terms of the decisions to be made in the future. In this process, credit rating agencies eliminating the information asymmetry between the countries and institutions who want to create financial resource by borrowing from the savings owners and foreign institutions. Credit ratings determined by the mentioned organizations are accepted as an indicator of the countries to meet the financial obligations in other words their creditworthiness. For Turkey’s economy having a structure with a high level of external financing needs in terms of accelerating the growth and development process, it is inevitable to have an international creditworthiness increasing long-term investment tendency meeting foreign capitals’ trust search. In this study, firstly the determinants of the credit ratings given by credit rating agencies are determined and then forecasting Turkey’s future credit ratings by combining them with multivariate grey model and grey relational analysis are performed.

     

On the multi-utility representation of preference relations

We develop the ordinal theory of (semi)continuous multi-utility representation for incomplete preference relations. We investigate the cases in which the representing sets of utility functions are either arbitrary or finite, and those cases in which the maps contained in these sets are required to be (semi)continuous. With the exception of the case where the representing set is required to be finite, we find that the requirements of such representations are surprisingly weak, pointing to a wide range of applicability of the representation theorems reported here. Some applications to decision theory under uncertainty and consumer theory are also considered.     

Testing Steady‐State Restrictions of Linear Rational Expectations Models when Data are Highly Persistent*

Steady‐state restrictions are commonly imposed on highly persistent variables to achieve stationarity prior to confronting rational expectations models with data. However, the resulting steady‐state deviations are often surprisingly persistent indicating that some aspects of the underlying theory may be empirically problematic. This paper discusses how to formulate steady‐state restrictions in rational expectations models with latent forcing variables and test their validity using cointegration techniques. The approach is illustrated by testing steady‐state restrictions for alternative specifications of the New Keynesian model and shown to be able to discriminate between different assumptions on the sources of the permanent shocks.     

An unrequited affinity between talent shortages and untapped female potential: The relevance of gender quotas for talent management in high growth potential economies of the Asia Pacific region

We demonstrate that gender quotas have not attracted due interest as a talent management formulation in the Asia Pacific region. Drawing on a literature review, this paper illustrates the utility of gender quotas for talent management in the context of high growth potential economies in the Asia Pacific region, i.e. China, Singapore, Thailand, Hong Kong and Taiwan. These five economies are characterized with talent shortages on the one hand, and untapped female potential on the other. We show the necessity and legitimacy of considering gender quotas as part of talent management strategy in the region in order to leverage untapped female potential for addressing talent shortages.     

Opportunity or threat? Finnish hunters’ attitudes to hunting tourism

This article examines elements of the social sustainability of hunting tourism development by scrutinising Finnish hunters’ opinions on three possible scenarios related to hunting tourism: the threat of an exclusion of local hunters, the threat of rising rents of hunting land and the threat to Finnish hunting customs and practice due to increasing numbers of foreign hunting tourists. Hunters’ positions on these three issues are mapped and the determinants of their attitudes are analysed using unique national survey data on Finnish hunters and their attitudes (N= 1193). The results show a clear ambivalence to hunting tourism among hunters. While a majority of hunters tend to view hunting tourism as a threat, a large minority relate to it more positively. These attitudinal patterns can be explained only partly by socioeconomic factors, whereas factors pertaining to hunting experience and hunting profile play a somewhat more prominent role in understanding the legitimacy that hunting tourism enjoys in the eyes of hunters in Finland. Age, rural residence and participation in wildlife management are also found important for some issues. The ambiguities revealed could pose major problems for social sustainability and hunting tourism management and development.     

An Options Approach to Valuing Expansion Flexibility in Flexible Manufacturing System Investments

Flexibility in manufacturing processes provides an ability to change or even reverse the decisions made in earlier periods. The traditional economic evaluation methods of investments in flexible manufacturing systems ignore the value of flexibility, which should be one of the key issues in the justification process. Options approach appears as a means of overcoming the limitations of conventional discounted cash flow methods. In this work, a methodology for valuing expansion flexibility of flexible manufacturing systems is presented. Expansion flexibility in a phased manufacturing investment can be valued by viewing an initial investment as being analogous to purchasing an option to exchange one risky asset for another risky asset within a time period from the initial investment. While keeping the option to expand is of value, a thorough analysis requires that the opportunity cost of delaying expansion be taken into account. In this paper, an analytic approximation methodology for valuing sequential American exchange options on dividend paying stocks is employed for valuing expansion flexibility. A comprehensive numerical example is presented to illustrate the approach, and sensitivity analyses are performed.     

A predictive filtering approach for clarifying bibliometric datasets: an example on the research articles related to industry 4.0

ABSTRACT

This study proposes a filtering approach based on text classification and a fuzzy multi-criteria decision-making technique to select the relevant bibliometric data for further analyses in the scope of bibliometrics, scientometrics, and related methodologies. The proposed approach is illustrated on Industry 4.0 and internet of things which are the concepts that currently draw utmost attention with a growing number of research and applications. Accordingly, various findings are presented revealing the characteristics of the selected bibliometric data with the help of text and network analytics. The potential contribution of this study is two-fold such that the study not only suggests a novel approach for clarifying the retrieved bibliometric data but also emphasises the mainstream research areas and directions of Industry 4.0 along with the concept of the internet of things. Thus, an analysis framework with computing techniques has been used to reveal the characteristics of literature in a field of technology.