Pub Date : 2020-05-12DOI: 10.1007/s41464-020-00090-2
Wendelin Schnedler, Nina Lucia Stephan
Previous experiments observe a chain of unkindness: unkindly treated people treat an innocent third party unkindly. As a remedy, it has been proposed that the unkindly treated person engages in emotional regulation by writing a letter to the unkind person. Indeed, subjects who received little money were willing to leave more to a third person when they were writing a letter rather than waiting.
Here, we examine whether emotional regulation is indeed behind this observation. In line with emotional regulation, we find that letter writing also leads to more giving if the person is treated unkindly by being assigned to a frustrating rather than a pleasant job. Being able to write, however, does not affect self-reported happiness differently from having to wait. Even more strikingly, subjects assigned to pleasant jobs also give more when writing rather than waiting. This is not consistent with emotional regulation.
{"title":"Revisiting a Remedy Against Chains of Unkindness","authors":"Wendelin Schnedler, Nina Lucia Stephan","doi":"10.1007/s41464-020-00090-2","DOIUrl":"https://doi.org/10.1007/s41464-020-00090-2","url":null,"abstract":"<p>Previous experiments observe a chain of unkindness: unkindly treated people treat an innocent third party unkindly. As a remedy, it has been proposed that the unkindly treated person engages in emotional regulation by writing a letter to the unkind person. Indeed, subjects who received little money were willing to leave more to a third person when they were writing a letter rather than waiting.</p><p>Here, we examine whether emotional regulation is indeed behind this observation. In line with emotional regulation, we find that letter writing also leads to more giving if the person is treated unkindly by being assigned to a frustrating rather than a pleasant job. Being able to write, however, does not affect self-reported happiness differently from having to wait. Even more strikingly, subjects assigned to pleasant jobs also give more when writing rather than waiting. This is not consistent with emotional regulation.</p>","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"5 4","pages":"347-364"},"PeriodicalIF":2.2,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138519862","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}
Pub Date : 2020-04-09DOI: 10.1007/s41464-020-00087-x
Martin Glaum
Analysing 20 interviews with CFOs of German non-listed family firms, I report how the firms’ financial reporting is organised, who are the financial statement addressees, how the CFOs define accounting quality, whether they manage earnings, and how owner families influence reporting. I also discuss the firms’ costs of reporting and disclosure. Most CFOs see the requirement to disclose financial statements as a burden. They react by disclosing statements as late as possible and by providing only the minimum content necessary. As regards accounting quality, the CFOs value formal correctness, but also sustainability, persistence, and conservative estimation of net income. Most CFOs engage in earnings management, above all to achieve a positive trend in net income, in some cases also to comply with debt covenants. The influence of the owner families differs; however, in most cases the family at least “sets the tone” for the reporting. On average, the direct costs of accounting and auditing in my sample firms amount to about 1% of revenues. According to the CFOs, public disclosure does not result in material indirect costs, and most CFOs would not change much if the requirements for reporting and disclosure were abolished. These findings add to our understanding of private firm financial reporting and suggest several directions for future research.
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Pub Date : 2020-04-01DOI: 10.1007/s41464-020-00088-w
Dominik van Aaken, Maximilian Göbel, Daniel Meindl
{"title":"Monitor or Advise? How Family Involvement Affects Supervisory Board Roles in Family Firms","authors":"Dominik van Aaken, Maximilian Göbel, Daniel Meindl","doi":"10.1007/s41464-020-00088-w","DOIUrl":"https://doi.org/10.1007/s41464-020-00088-w","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"1 1","pages":"193-224"},"PeriodicalIF":2.2,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82846186","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}
Pub Date : 2020-04-01DOI: 10.1007/s41464-020-00089-9
J. Kunz
{"title":"Corporate Social Responsibility and Employees Motivation—Broadening the Perspective","authors":"J. Kunz","doi":"10.1007/s41464-020-00089-9","DOIUrl":"https://doi.org/10.1007/s41464-020-00089-9","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"14 1","pages":"159-191"},"PeriodicalIF":2.2,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79067505","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}
Pub Date : 2020-04-01DOI: 10.1007/s41464-020-00091-1
Tobias Quill
{"title":"Valuation Techniques Under Construction—About the Dissemination of the CAPM in German Judicial Valuation","authors":"Tobias Quill","doi":"10.1007/s41464-020-00091-1","DOIUrl":"https://doi.org/10.1007/s41464-020-00091-1","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"5 3 1","pages":"299-341"},"PeriodicalIF":2.2,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80038370","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}
Pub Date : 2020-03-13DOI: 10.1007/s41464-020-00086-y
Christian Nitzl, D. Hilgers, Bernhard Hirsch, David Lindermüller
{"title":"The Influence of the Organizational Structure, Environment, and Resource Provision on the Use of Accrual Accounting in Municipalities","authors":"Christian Nitzl, D. Hilgers, Bernhard Hirsch, David Lindermüller","doi":"10.1007/s41464-020-00086-y","DOIUrl":"https://doi.org/10.1007/s41464-020-00086-y","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"31 1","pages":"271-298"},"PeriodicalIF":2.2,"publicationDate":"2020-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75795865","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}
Analysing 20 interviews with CFOs of German non-listed family firms, I report how the firms’ financial reporting is organised, who are the financial statement addressees, how the CFOs define accounting quality, whether they manage earnings, and how owner families influence reporting. I also discuss the firms’ costs of reporting and disclosure. Most CFOs see the requirement to disclose financial statements as a burden. They react by disclosing statements as late as possible and by providing only the minimum content necessary. As regards accounting quality, the CFOs value formal correctness, but also sustainability, persistence, and conservative estimation of net income. Most CFOs engage in earnings management, above all to achieve a positive trend in net income, in some cases also to comply with debt covenants. The influence of the owner families differs; however, in most cases the family at least “sets the tone” for the reporting. On average, the direct costs of accounting and auditing in my sample firms amount to about 1% of revenues. According to the CFOs, public disclosure does not result in material indirect costs, and most CFOs would not change much if the requirements for reporting and disclosure were abolished. These findings add to our understanding of private firm financial reporting and suggest several directions for future research.
{"title":"Financial Reporting in Non-listed Family Firms: Insights from Interviews with CFOs","authors":"M. Glaum","doi":"10.2139/ssrn.3570734","DOIUrl":"https://doi.org/10.2139/ssrn.3570734","url":null,"abstract":"Analysing 20 interviews with CFOs of German non-listed family firms, I report how the firms’ financial reporting is organised, who are the financial statement addressees, how the CFOs define accounting quality, whether they manage earnings, and how owner families influence reporting. I also discuss the firms’ costs of reporting and disclosure. Most CFOs see the requirement to disclose financial statements as a burden. They react by disclosing statements as late as possible and by providing only the minimum content necessary. As regards accounting quality, the CFOs value formal correctness, but also sustainability, persistence, and conservative estimation of net income. Most CFOs engage in earnings management, above all to achieve a positive trend in net income, in some cases also to comply with debt covenants. The influence of the owner families differs; however, in most cases the family at least “sets the tone” for the reporting. On average, the direct costs of accounting and auditing in my sample firms amount to about 1% of revenues. According to the CFOs, public disclosure does not result in material indirect costs, and most CFOs would not change much if the requirements for reporting and disclosure were abolished. These findings add to our understanding of private firm financial reporting and suggest several directions for future research.","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"31 1","pages":"225-270"},"PeriodicalIF":2.2,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86915653","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}
Pub Date : 2020-02-21DOI: 10.1007/s41464-020-00085-z
Gunnar Gutsche, Bernhard Zwergel
{"title":"Investment Barriers and Labeling Schemes for Socially Responsible Investments","authors":"Gunnar Gutsche, Bernhard Zwergel","doi":"10.1007/s41464-020-00085-z","DOIUrl":"https://doi.org/10.1007/s41464-020-00085-z","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"2 1","pages":"111-157"},"PeriodicalIF":2.2,"publicationDate":"2020-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41464-020-00085-z","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72518855","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}
Pub Date : 2020-02-01DOI: 10.1007/s41464-020-00083-1
F. Kaiser, R. Obermaier
{"title":"Vertical (Dis‑)Integration and Firm Performance: A Management Paradigm Revisited","authors":"F. Kaiser, R. Obermaier","doi":"10.1007/s41464-020-00083-1","DOIUrl":"https://doi.org/10.1007/s41464-020-00083-1","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"AES-5 1","pages":"1-37"},"PeriodicalIF":2.2,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84475919","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}
Pub Date : 2020-01-31DOI: 10.1007/s41464-020-00082-2
Anjulie Hähnchen, Bernhard Baumgartner
{"title":"The Impact of Price Bundling on the Evaluation of Bundled Products: Does It Matter How You Frame It?","authors":"Anjulie Hähnchen, Bernhard Baumgartner","doi":"10.1007/s41464-020-00082-2","DOIUrl":"https://doi.org/10.1007/s41464-020-00082-2","url":null,"abstract":"","PeriodicalId":43001,"journal":{"name":"SCHMALENBACH BUSINESS REVIEW","volume":"33 1","pages":"39-63"},"PeriodicalIF":2.2,"publicationDate":"2020-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85429448","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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