Pflege im Recht

Haftungsklagen gegen Pflegende - Die Prozessh?ufigkeit gegen Pflegende im Straf- und Zivilrecht hat sich in den letzten Jahren wesentlich verst?rkt. Besonders h?ufig werden sie wegen Stürzen, Dekubitalulzera oder freiheitsentziehender Ma?nahmen zur Rechenschaft gezogen. Doch nur wer die potenziellen Gefahren kennt, kann sich vor den Folgen schützen. Denn: Vorbeugen ist besser als haften!     

Love,Forgiveness, and Trust: Critical Values of the Modern Leader

In a world that has become increasingly dependent upon employee ownership, commitment, and initiative, organizations need leaders who can inspire their␣employees and motivate them individually. Love, forgiveness, and trust are critical values of today’s organization leaders who are committed to maximizing value for organizations while helping organization members to become their best. We explain the importance of love, forgiveness, and trust in the modern organization and identify 10 commonalities of these virtues.     

Does International Trade Catch Up with National Trade of Countries? Yes

The article applies an index suggested by Jeffrey Frankel on how to measure the gap between the intensity of national versus international transactions of a country to more than 100 countries over four periods between 1990 and 2005. The gap stands for “incomplete” globalization. It is shown that the gap has steadily declined for most countries over the sample period, irrespective of income levels. While larger economies are still less globalized than small economies, differences in domestic market size have become less important as a dividing line between more and less globalized economies.     

Technological change and timing reductions in greenhouse gas emissions

In 2007 Nicholas Stern’s Review (in Science 317:201–202, 2007) estimated that global GDP would shrink by 5–20% due to climate change which brought forth calls to reduce emissions by 30–70% in the next 20 years. Stern’s results were contested by Weitzman (in J Econ Lit XLV(3):703–724, 2007) who argued for more modest reductions in the near term, and Nordhaus (in Science 317:201–202, 2007) who questioned the low discount rate and coefficient of relative risk aversion employed in the Stern Review, which caused him to argue that ‘the central question about global-warming policy—how much how, how fast, and how costly—remain open.’ We present a simulation model developed by Färe et al. (in Time substitution with application to data envelopment analysis, 2009) on intertemporal resource allocation that allows us to shine some light on these questions. The empirical specification here constrains the amount of undesirable output a country can produce over a given period by choosing the magnitude and timing of those reductions. We examine the production technology of 28 OECD countries over 1992–2006, in which countries produce real GDP and CO₂ using capital and labor and simulate the magnitude and timing necessary to be in compliance with the Kyoto Protocol. This tells us ‘how fast’ and ‘how much’. Comparison of observed GDP and simulated GDP with the emissions constraints tells us ‘how costly’. We find these costs to be relatively low if countries are allowed reallocate production decision across time, and that emissions should be cut gradually at the beginning of the period, with larger cuts starting in 2000.     

International Differences in Conditional Conservatism – The Role of Unconditional Conservatism and Income Smoothing

Abstract

Prior research documents that conditional conservatism, measured as the asymmetric timeliness of earnings reflecting bad vs. good news, varies with cross-country differences in institutional regimes. In this paper, we examine the determinants of conditional conservatism and related earnings attributes internationally. First, using panel data, we investigate whether competing earnings attributes such as unconditional conservatism and income smoothing affect conditional conservatism and its international differences. We find that these attributes are predictably correlated with conditional conservatism. Second, we address the question whether income smoothing and conditional conservatism are two fundamentally different earnings attributes. We show theoretically that both attributes yield different earnings distributions and that the motivations for producing earnings which possess these attributes differ. To test these predictions empirically, we calculate firm-specific time-series measures of asymmetric timeliness, using a novel trigonometric measure based on the standard Basu (1997)-type regression. Using this cross-sectional data, we test whether conditional conservatism and income smoothing are different and find them to be only weakly correlated for a broad international sample. Also, we demonstrate that income smoothing explains international differences in conditional conservatism. Finally, we estimate simple determinant models of conditional conservatism and income smoothing, showing that both earnings attributes are driven by different explanatory firm-level factors: Conditional conservatism increases with the importance of debt financing, while income smoothing increases with the importance of dividends. Despite some important limitations, we believe our results to be meaningful because they show that cross-country differences in conditional conservatism are influenced by the effects of other accounting properties, predominantly income smoothing. Especially, legal regime appears to drive income smoothing while losing its explanatory power for conditional conservatism when firm-specific factors are controlled for.     

Success factors of university-spin-offs: Regional government support programs versus regional environment

In recent years entrepreneurship research has increasingly interpreted new firm emergence in the light of the context the potential or real founder is living and working in. This is especially true for university spin-offs, a type of new firms that gives rise to great hopes for policymakers and technology transfer institutions. The aim of this paper is to analyze what is more influential: specific characteristics of the regional environment of the spin-off founder or public programs to support university spin-offs. Based upon a unique data set covering 11 years of data collection we were able to apply a control group approach with two different government support programs in two regional contexts. The results based upon ordinal regressions suggest that the regional context in which an individual starts a firm, has an impact on start-up success, but the fact that he/she had received government support has a lesser impact. To summarize: site specific factors matter, government support programs per se do not.     

Zur Quantifizierung der Risikoprämien deutscher Versicherungsaktien im Kontext eines Multifaktorenmodells

In this contribution we present an empirical study that focuses on the relationship between risk and return for a universe of insurance Stocks in Germany during the period 1975–1998. The study was conducted using a multi factor model. The proportion of explained variance ranges from 9.29% to 13.62% in the monthly regressions. We found a significant and negative relationship between changes in the term structure of interest rates and the risk premiums for insurance Stocks. Also significant is the exchange rate of the Deutsche Mark against the US-Dollar.     

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