Line,staff and the systems perspective

It's time to retreat from the old principle: ‘staff advises, line decides.’ But where do we go? to a new broad principle? Conflict in line/staff relations must be handled in a pragmatic, existential approach to the design of the organization.     

Short and long-term interactions between venture capital returns and the macroeconomy: evidence for the United States

The main purpose of this paper is to empirically model the influence of macroeconomic and financial variables on the performance of risk capital in the US. We start our investigation using a static long-run equilibrium model. In contrast to previous studies, we analyze the effect of several factors simultaneously within the framework of a vector error correction model (VECM). This allows us to study short- and long-term interactions to overcome the problem of endogeneity, and to discover causal mechanisms. The results show that the value of venture capital investments is positively related to industrial production, the exit channel Nasdaq, and the long-term interest rate. However, the value of venture capital investments is negatively related to the short-term interest rate. According to the short-term dynamics, VEC Granger causality confirms that only industrial production influences venture capital performance, while venture capital returns Granger causes Nasdaq performance.     

Rekommunalisierung versus Neukonzessionierung der Energieversorgung

The current trend back to municipal utilities (??remunicipalisation??) in the German energy system shows very different approaches and variants in the real cases. Converting the distribution network from privately-owned distribution companies to municipally-owned entities often forms the starting point of such restructuring processes. Ecological or regional development motivations are at the forefront of public debates. The authors emphasize the importance of energy economic aspects of this problem. Advantages and disadvantages of remunicipalisation projects depend strongly on the specific regional circumstances. Important factors are the potentials for cooperation and expansion of the business activities. Moreover, the price which has to be paid for taking over the network infrastructure has to be taken into account as the decisive parameter: The price for buying or renting the network and the possible revenues on the backdrop of incentive-based regulation define the economic viability for the municipality. Many of the often heard arguments pro remunicipalisation, such as the objective of decentralized energy supply, labour effects and municipal contributions to climate protection, do not fully convince in the end; as well the fiscal status of many municipalities in Germany is severe. Nonetheless remunicipalisation must not be rejected in general because there is no general proof for welfare losses resulting from these projects. In fact, it depends mainly on local influencing factors to what extent municipalities should be or become active in the field of energy supply. Among the most important aspects the preferences of the citizens, the environmental and political aims of the municipality (so far they are defined) and the available resources of the municipal decision making persons and bodies must be mentioned. However, in economic terms the leeway for the municipality remains restricted by the costs of operating the network and tariff regulation.     

Consumer valuation of safety‐labeled free‐range chicken: results of a field experiment in Hanoi

This article presents results of a field experiment designed to assess willingness to pay for safely produced free‐range chicken in Hanoi, the capital of Vietnam. Improved safety of chicken production and trading is suggested as an important component of avian influenza control strategy, which aims to address the direct costs of avian influenza as well as the global public health externality. However, consumer demand for safely produced free‐range chicken is unknown. Products that have credible food labeling are not common in traditional markets where the majority of free‐range chicken is purchased. Valuing characteristics of products sold in informal markets is a major challenge that our experiment overcomes. As part of the experiment, we provided several vendors from these markets with safety‐labeled free‐range chicken. Consumer valuation of safety labeling was elicited through having experiment participants, who were representative of potential consumers, select between discount coupons for either safety‐labeled chicken or regular chicken. Results indicate that consumers will pay at least $0.50, or a 10–15% premium, per chicken purchase for safety labeling, which emphasizes safe production, processing, and transport conditions. This premium is smaller than the premium currently paid for traditional chicken varieties that are considered to be tastier. Consumers with more education have higher valuation of safety labeling. Hence, safety labeling for high‐quality free‐range chicken can play a role in controlling livestock disease and improving public health.     

Co-presence and mobile apps: Technology's impact on being with others

Despite a lack of theoretical understanding regarding how consumers react when using mobile applications in a store, the latter are being used more and more often in shared consumption areas. This research explores the impact that using a mobile application has on perceptions of co-presence. Depending on the consumption experience stage, this technological tool can be a social facilitator that enhances interactions with companions or a device that makes it possible to reduce a negative crowd impression. This paper is positioned at the intersection of interpersonal influence research and research focused on mobile technologies' effect on the purchasing process. It may interest managers of sites where there is high co-presence and where a mobile application might reduce negative crowd impressions and facilitate in-group sharing.     

The Bologna process: how student mobility affects multi-cultural skills and educational quality

We analyze the two goals behind the European Bologna process of increasing student mobility: enabling graduates to develop multi-cultural skills and increasing the quality of universities. We isolate three effects: (1) a competition effect that raises quality, (2) a free-rider effect that lowers quality, and (3) a composition effect that influences the relative strengths of the two previous effects. The effects lead to a trade-off between the two goals. Full mobility may be optimal only when externalities are high. In this case, student mobility yields inefficiently high educational quality. For moderate externalities, partial mobility is optimal and yields an inefficiently low quality of education.