This article deals with the question on how the Central Asian governments have dealt with transition as a whole and the emergence of private business in particular. Our focus is on the politically and economically most important countries in the region, Kazakhstan and Uzbekistan. We investigate the specific role(s) that the Kazakh and Uzbek states assume within their respective economies and its impact on the environment for both foreign and domestic private business. Furthermore, the institutions at the interface between government and private economic actors, which together form the government-business-nexus, are analyzed. Drawing on more than 300 interviews with different stakeholder groups we find notable differences in the transition strategies of these countries. Nevertheless, they both achieved remarkable economic growth rates over the past decade that are projected to continue for the next years.
{"title":"The Business of Government: The State as Obstacle and Facilitator for Private Investment in Central Asia","authors":"M. Stark, Joachim Ahrens, Florian A. Täube","doi":"10.2139/ssrn.2387289","DOIUrl":"https://doi.org/10.2139/ssrn.2387289","url":null,"abstract":"This article deals with the question on how the Central Asian governments have dealt with transition as a whole and the emergence of private business in particular. Our focus is on the politically and economically most important countries in the region, Kazakhstan and Uzbekistan. We investigate the specific role(s) that the Kazakh and Uzbek states assume within their respective economies and its impact on the environment for both foreign and domestic private business. Furthermore, the institutions at the interface between government and private economic actors, which together form the government-business-nexus, are analyzed. Drawing on more than 300 interviews with different stakeholder groups we find notable differences in the transition strategies of these countries. Nevertheless, they both achieved remarkable economic growth rates over the past decade that are projected to continue for the next years.","PeriodicalId":112932,"journal":{"name":"EBS Business School Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131310526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Extant theory and empirical evidence suggest that strategies of diversification and geographic scope expansion carry benefits as well as costs. However, it is unclear whether the arguments relating diversification and geographic scope expansion with firm performance are applicable in the specific context of professional service firms (PSFs). These firms are also characterized by particular organizational features, such as the importance of maintaining an optimal leverage ratio, defined as the ratio between junior professionals and senior ones as partners. Our hypothesis development suggests an inverted U-shaped relationship between service line diversification, geographic scope and leverage on the one hand, and PSF performance on the other. We empirically test these relationships using fixed-effects regression and polynomial response surface analysis (RSA) on panel data from 61 German law firms from 2003 to 2012. RSA provides a finely-grained understanding of the relationships among the variables of interest. We find an inverted U-shaped performance effect of diversification and leverage, but no relationship between geographic scope and performance. Moreover, we find evidence of a complementary relationship between diversification and leverage ratio. We conclude with a discussion of our findings and their implications for theory and practice.
{"title":"Individual and Joint Performance Effects of Diversification, Geographic Scope and Organizational Leverage in Professional Service Firms: A Study of German Law Firms","authors":"A. Karna, A. Richter, Monika Schommer","doi":"10.2139/ssrn.2388294","DOIUrl":"https://doi.org/10.2139/ssrn.2388294","url":null,"abstract":"Extant theory and empirical evidence suggest that strategies of diversification and geographic scope expansion carry benefits as well as costs. However, it is unclear whether the arguments relating diversification and geographic scope expansion with firm performance are applicable in the specific context of professional service firms (PSFs). These firms are also characterized by particular organizational features, such as the importance of maintaining an optimal leverage ratio, defined as the ratio between junior professionals and senior ones as partners. Our hypothesis development suggests an inverted U-shaped relationship between service line diversification, geographic scope and leverage on the one hand, and PSF performance on the other. We empirically test these relationships using fixed-effects regression and polynomial response surface analysis (RSA) on panel data from 61 German law firms from 2003 to 2012. RSA provides a finely-grained understanding of the relationships among the variables of interest. We find an inverted U-shaped performance effect of diversification and leverage, but no relationship between geographic scope and performance. Moreover, we find evidence of a complementary relationship between diversification and leverage ratio. We conclude with a discussion of our findings and their implications for theory and practice.","PeriodicalId":112932,"journal":{"name":"EBS Business School Research Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123833526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Unrealistic optimism is a commonly observed bias in the perception of chances. In this paper, we examine whether the bias is also present among young elite soccer players (10 to 23 years old) who receive regular objective feedback through external assessments. Utilising a large unique data set of almost 1600 individuals allows us to explore the empirical validation of the ipsative theory of human behaviour. In particular, we analyse how factors such as age or experience, education, peer group performance, and the level of integration into culture exert influence over young elite athletes' perceived chance of becoming a professional player. Working with a homogeneous dataset of individuals possessing similar characteristics and professional goals allows us to control for and isolate (unobserved) factors that may shape perceptions.
{"title":"What Shapes Young Elite Athletes’ Perception of Chances in an Environment of Great Uncertainty?","authors":"Verena Jung, Sascha L. Schmidt, B. Torgler","doi":"10.2139/ssrn.2184712","DOIUrl":"https://doi.org/10.2139/ssrn.2184712","url":null,"abstract":"Unrealistic optimism is a commonly observed bias in the perception of chances. In this paper, we examine whether the bias is also present among young elite soccer players (10 to 23 years old) who receive regular objective feedback through external assessments. Utilising a large unique data set of almost 1600 individuals allows us to explore the empirical validation of the ipsative theory of human behaviour. In particular, we analyse how factors such as age or experience, education, peer group performance, and the level of integration into culture exert influence over young elite athletes' perceived chance of becoming a professional player. Working with a homogeneous dataset of individuals possessing similar characteristics and professional goals allows us to control for and isolate (unobserved) factors that may shape perceptions.","PeriodicalId":112932,"journal":{"name":"EBS Business School Research Paper Series","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131732730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the effect of superstars on external stakeholders’ organizational identification through the lens of sport. Drawing on social identity theory and the concept of organizational identification, as well as on role model theories and superstar economics, we develop several hypotheses regarding the influence of soccer stars on their fans’ degree of team identification. Using a proprietary dataset including archival data on professional German soccer players and clubs as well as survey data of more than 1,400 soccer fans, we find evidence for a positive effect of superstar characteristics and role model perception. We further find that players who measure up to the definition of a superstar are more important to fans of established teams than to fans of unsuccessful teams. The player’s club tenure, however, seems to have no influence on fans’ team identification. We argue that the effect of soccer stars on their fans is comparable to that of CEOs on their organizations’ external stakeholders and consequently apply our results to the business domain. Our results contribute to organizational identification research by extending the list of determinants related to individual persons.
{"title":"The Influence of Superstars on Organizational Identification of External Stakeholders: Empirical Findings from Professional Soccer","authors":"Daniel Hoegele, Sascha L. Schmidt, B. Torgler","doi":"10.2139/ssrn.2171682","DOIUrl":"https://doi.org/10.2139/ssrn.2171682","url":null,"abstract":"This paper examines the effect of superstars on external stakeholders’ organizational identification through the lens of sport. Drawing on social identity theory and the concept of organizational identification, as well as on role model theories and superstar economics, we develop several hypotheses regarding the influence of soccer stars on their fans’ degree of team identification. Using a proprietary dataset including archival data on professional German soccer players and clubs as well as survey data of more than 1,400 soccer fans, we find evidence for a positive effect of superstar characteristics and role model perception. We further find that players who measure up to the definition of a superstar are more important to fans of established teams than to fans of unsuccessful teams. The player’s club tenure, however, seems to have no influence on fans’ team identification. We argue that the effect of soccer stars on their fans is comparable to that of CEOs on their organizations’ external stakeholders and consequently apply our results to the business domain. Our results contribute to organizational identification research by extending the list of determinants related to individual persons.","PeriodicalId":112932,"journal":{"name":"EBS Business School Research Paper Series","volume":"1957 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129332216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this study, a multi-party payment card network model is constructed to explore the determination of merchant and interchange fees, thereby extending Langlet’s (2009) observation of unitary payment systems. The focus of this analysis was on the impact of consumer price elasticity, the relative frequency of card usage, and the competitive condition of merchants in the determination of network fee payments. To accomplish this, two scenarios are analyzed; first, a network with homogeneous banks that serve both sides of the payment market, therefore acquiring and issuing cards in an equal manner and second, financial institutions that exclusively serve as either issuers or acquirers. The model yielded two significant results. First, similar to the Langlet (2009) case of unitary payment networks, the consumer price elasticity, the relative frequency of card usage, and the competitive condition of merchants were found to determine the prices of the multi-party payment system. Second, limiting the interchange fee is found to be efficient in regulating the inefficiently high merchant usage fees.A summarized version of this working paper is forthcoming in Lydian Payments Journal.
{"title":"Multi-Party Payment Card Network Pricing Determination of Merchant and Interchange Fee","authors":"Markus Langlet","doi":"10.2139/ssrn.1514292","DOIUrl":"https://doi.org/10.2139/ssrn.1514292","url":null,"abstract":"In this study, a multi-party payment card network model is constructed to explore the determination of merchant and interchange fees, thereby extending Langlet’s (2009) observation of unitary payment systems. The focus of this analysis was on the impact of consumer price elasticity, the relative frequency of card usage, and the competitive condition of merchants in the determination of network fee payments. To accomplish this, two scenarios are analyzed; first, a network with homogeneous banks that serve both sides of the payment market, therefore acquiring and issuing cards in an equal manner and second, financial institutions that exclusively serve as either issuers or acquirers. The model yielded two significant results. First, similar to the Langlet (2009) case of unitary payment networks, the consumer price elasticity, the relative frequency of card usage, and the competitive condition of merchants were found to determine the prices of the multi-party payment system. Second, limiting the interchange fee is found to be efficient in regulating the inefficiently high merchant usage fees.A summarized version of this working paper is forthcoming in Lydian Payments Journal.","PeriodicalId":112932,"journal":{"name":"EBS Business School Research Paper Series","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122876388","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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