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Institut
- Fakultät Wirtschaftswissenschaften (13) (entfernen)
Das Ziel der vorliegenden Arbeit ist es, die Zusammenhänge zwischen der erlebten Aktiviertheit und Indikatoren der Hirnstromaktivität unter der Berücksichtigung der Persönlichkeitsfaktoren Extraversion und Neurotizismus zu untersuchen. Besondere Aufmerksamkeit wird dabei auf die Erfassung der erlebten Aktiviertheit gerichtet. Als theoretische Basis bietet sich H. Eysencks Arousal-Theorie an, die eine Brücke von den Persönlichkeitsfaktoren Extraversion und Neurotizismus zur Hirnaktivität schlägt. Es wird ein Modell der übergeordneten Aktiviertheit vorgeschlagen, das die allgemeine Aktiviertheit als ein übergeordnetes Konstrukt beschreibt, welches durch die drei Faktoren erlebte Aktiviertheit, Hirnstromaktivität und Persönlichkeitseigenschaften repräsentiert wird. Die Hirnstromaktivität beschreibt die physiologische Seite, während die erlebte Aktiviertheit die psychometrische Seite der allgemeinen Aktiviertheit darstellt. Die Wirkung der Extraversion und des Neurotizismus auf die Aktiviertheit beeinflusst das Verhalten. Alle drei Faktoren hängen miteinander zusammen. In den hier berichteten Experimenten wurden die Persönlichkeitsfaktoren mit dem NEO-FFI nach Costa und McCrae (1989) und die erlebte Aktiviertheit mit der Kategorien- Unterteilungsskala (Heller, 1981) erfasst. Zur Beschreibung der Hirnstromaktivität wurden sowohl die insgesamt gemessene Hirnstromaktivität als auch die Aktivität in unterschiedlichen Frequenzbändern ausgewertet. In der ersten Studie wurden Probanden drei unterschiedlich beanspruchenden Situationen ausgesetzt. Es wurde festgestellt, dass die Hirnstromaktivität und die erlebte Aktiviertheit, wie angenommen, in einem negativen Zusammenhang miteinander stehen. Die Extraversion und der Neurotizismus zeigten keine Zusammenhänge mit den anderen Faktoren. In der zweiten Studie wurden die Probanden in vier unterschiedlich beanspruchenden Situationen untersucht. Zwischen den drei Faktoren konnten die angenommenen Zusammenhänge nicht bestätigt werden. Die Ergebnisse der beiden Studien können das vorgeschlagene Modell der übergeordneten Aktiviertheit nicht stützen. Zwar wurde in der ersten Studie ein postulierter Zusammenhang zwischen der erlebten Aktiviertheit und Hirnstromaktivität beobachtet, in der zweiten Studie konnte dieser jedoch nicht bestätigt werden. Die Persönlichkeitsdimensionen Extraversion und Neurotizismus zeigten in beiden Studien nicht die angenommenen Zusammenhänge mit den anderen Faktoren. Die über unterschiedlichen Hirnregionen abgeleitete Hirnstromaktivität aus der ersten und zweiten Studie wurde anschließend getrennt explorativ betrachtet. Das Ziel der explorativen Untersuchung war es, in den einzelnen Hirnregionen spezifische Muster zwischen den drei Faktoren zu finden, die in den über die gesamte Kopfoberfläche zusammengefassten Daten nicht ersichtlich waren. Diese Analyse sollte Hinweise für weitere, tiefergehende Experimente zur Aktiviertheit geben. Die explorative Betrachtung der Datensätze aus der ersten Studie zeigte, dass die Mehrheit der über unterschiedlichen Hirnarealen gewonnenen Daten konform mit den über die gesamte Kopfoberfläche erhobenen Ergebnissen sind. Zwei Hirnregionen (midtemporal und okzipital) fielen jedoch wiederholt auf. Die explorative Betrachtung der zweiten Studie ergab, dass sich die EEG-Aktivität über vier Hirnregionen (lateral frontal, midtemporal, posterior temporal, okzipital) von den über die gesamte Kopfoberfläche berechneten Daten unterscheiden. Da die midtemporalen und okzipitalen Hirnregionen sich bereits in der ersten explorativen Untersuchung von den Ergebnissen zu anderen Hirnregionen unterschieden, sollten sie in weiteren Untersuchungen zur allgemeinen Aktiviertheit besonders berücksichtigt werden.
Internet- and mobile technologies are increasingly used to deliver mental health care. E-Mental Health is promising for the prevention and treatment of mental disorders. However, while E-Mental Health was shown to be an effective treatment tool, fewer studies investigated the prevention of mental health problems with E-Mental Health approaches. In a series of three studies, this dissertation examines internet- and mobile-based approaches for the early monitoring and supporting of mental health. First, a pilot study investigates the use of smartphone data as collected by daily self-reports and sensor information for the self-monitoring of bipolar disorder symptoms. It was found that some, but not all smartphone measurements predicted clinical symptoms of mania and depression, indicating that smartphones could be used as an earlywarning system for patients with bipolar disorder. Second, a randomized controlled trial evaluates the effectiveness of an internet-based intervention among persons with depression and sickness absence. The intervention was found to be effective in reducing depressive symptoms compared to a control group, suggesting that the internet can provide effective support for people with sickness absence due to depression. Third, a study protocol proposes to combine self-monitoring with a mobile intervention to support mental health in daily life. Supportive self-monitoring will be evaluated in a fully mobile randomized controlled trial among a sample of smartphone users with psychological distress. If supportive self-monitoring on the basis of a smartphone application is effective, it could be widely distributed to monitor and support mental health on a population level. Finally, the contribution of the presented studies to current research topics in E-Mental Health is discussed.
Derivatives are contracts between two parties, a buyer and a seller. The contract will be fulfilled in some point in the future at a predetermined price. The value of those contracts is based on an underlying entity which can be a traded asset or even the weather. Derivatives contain chances, but also risks, investor should be aware off. This thesis aims to deeply analyze two derivative products in the German market and one risk for each which influences the prices of those products. The first part of this thesis focuses on warrants and the issuer's credit risk involved. It finds evidence that the issuer's credit risk influences the connection between warrant characteristic and its prices. Over time this connection is unstable partly driven by the issuer's credit risk. The second paper of this thesis shows that issuers seem to use their credit risk systematically to influence warrant prices. Evidence is found that the changes in credit risk are not fully included in the prices directly, but that the adjustment to the new level of credit risk takes several days. In addition, the issuer's adjustment to changes in credit risk are different for credit risk increases than for credit risk decreases. Especially after financial crisis, in more stable times, evidence is found for such adverse pricing pattern. The third part of the thesis focuses on energy derivatives traded at the Europe Energy Exchange and analyses the influence of weather parameters on energy derivatives with different load profiles and time horizons. This part of the thesis finds that especially wind speed and sun hours have a strong influence on energy derivatives. However, not all products are influenced in the same manner. Products with a longer time horizon are influenced less than the product with a short horizon. Moreover, products comprising hours of the day where energy consumption is expected to be higher are influenced stronger than products comprising hours of a day with lower time consumption. The thesis shows that derivatives are not alike and that it is needed for future research to differentiate between products and the risks which are involved. Since even though we classify them all as derivatives the risks influencing the derivative´s prices do vary tremendously.
Financial Decisions in Family Firms. Private Equity Investors, Capital Structures and Firm Identity
(2017)
This paper-based dissertation deals with financial issues of family businesses. These businesses are mainly characterized by the overlapping of the two social systems: family and business. Thus, the involvement of an owner family can have a significant impact on corporate decision-making, for instance in terms of corporate finance decisions. In Germany, the latter is dominated by a strong orientation towards banks. Nevertheless, the relevance of external equity, as source of funding, has increased during the last years due to regulatory interventions (Basel III) and a growing number of alternative private equity providers. Against this backdrop, the present dissertation and its four papers examine different research questions in the context of capital structure decisions of family firms. These decisions are related to external equity as well as debt financing. The first paper is a structured literature review concerning the interaction of family firms and external equity investors. The paper analyzes the current state of knowledge and points out directions for future research, which is particularly relevant for a young and recently growing field of research. The second paper is a conceptual paper that deals with the differences of various types of private equity investors from the perspective of family firms looking for funding. The literature review paper revealed that existing studies so far neglected the topic of heterogeneity among investor types. Thus, the second paper represents a first attempt to close this research gap. Paper three also takes up a research gap identified by the first paper and examines the exit of private equity minority investments in family-owned businesses. The paper applies a qualitative empirical research design, which includes fourteen cases and related six interviews. The results reveal that the disinvestment phase of private equity investors only rarely leads to conflicts with owner families. The fourth paper uses a quantitative research design with a comprehensive dataset of 691 companies. The paper aims to compare the capital structures of large family and non-family firms. Overall, the findings show that family firms have significantly higher overall and long-term debt levels compared to their non-family counterparts. The identity as a family firm, which leads to a leap of faith by banks, can be a possible explanation for these results.
This work investigates how managers/consultants (practitioners) of different ranks are engaged in patterns of behavior (practices) in socially situated contexts (practice) attempting to shape preferred shared interpretations of reality to achieve their goals. Following this line of inquiry, the work aims at (1) advancing our understanding of the role of practitioners in shaping managerial realities and (2) investigating how practitioners actually shape managerial realities, particularly focusing on "reality-shaping" practices and their content. The dissertation comprises a set of four complementary articles investigating these research questions empirically based on in-depth, empirical case studies and theoretically within various managerial contexts (client-consultant relationship, CEO post-succession strategic change process, evolutionary initiative development) and considering different actor perspectives (top managers, middle managers, consultants and clients). Resulting from this variety, the articles rely on and contribute to different, at times distant, research fields and therewith scholarly discussions. However, the literature on sensemaking and sensegiving offers a suitable overarching theoretical frame which is used in this work to synthesize the key contributions of the four articles.
In 2013, the European Commission adopted the so called "Entrepreneurship 2020 Action Plan" to ease the creation of new ventures and to support the takeover of existing firms. The goal is to create a supportive environment for entrepreneurs to thrive and grow (European Commission 2013). This shows that the European Union puts its efforts to support small firms as they are seen as means for Europe's sustainable economic growth. However, the successful processes of growth and investment are complex and depend on different determinants. The present thesis focuses on the firm level and analyzes in three independent articles: how small firms invest over time, how new ventures grow and which variables influence growth, how small firms grow after business takeover and which variables influence growth. The framework that connects these articles forms the content-related focus on the early stage of development of small firms and the methodological and analytical approaches that comply with up-to-date and adequate statistical analysis techniques. Supported by an extensive dataset, which is the foundation of all three articles, it is possible to investigate empirically different open research questions using bivariate and multivariate analysis techniques. Thus, this thesis also serves the research needs for more multivariate analyses for small firms, for which so far mainly cross-sectional studies have been conducted.
Research on motivational and cognitive processes in entrepreneurship has commonly relied on a static approach, investigating entrepreneurs' motivation and cognition at only one point in time. However, entrepreneurs' motivation and cognition are dynamic processes that considerably change over time. The goal of this dissertation is thus to adopt a dynamic perspective on motivational and cognitive processes in entrepreneurship. In three different chapters, the work examines dynamic changes in the level and impact of three different processes, i.e., creativity, entrepreneurial passion, and opportunity identification. In Chapter 2, the thesis develops a theoretical model on the alternating role of creativity in the course of the entrepreneurial process. The model emphasizes that the effects of two components underlying creativity, i.e., divergent and convergent thinking, considerably change both in magnitude and in direction throughout the entrepreneurial process. In Chapter 3, the author establishs and empirically tests a theoretical model on entrepreneurial passion. The theoretical analysis and empirical results show that the relationships between feelings of entrepreneurial passion, entrepreneurial self-efficacy, and entrepreneurial success are dynamic and reciprocal rather than static and unidirectional. In Chapter 4, the author develops and tests a theoretical model on the effect of entrepreneurship training on opportunity identification over time. The theoretical and empirical investigation indicates that entrepreneurship training effects systematically decay over time and that action planning and entrepreneurial action sustain the effects in the long term.
Micro- and small enterprises are of great importance for the economic growth in developing countries, as they contribute to employment creation and innovation. In light of their economic relevance, several approaches to support micro- and small enterprises have emerged, including building human capital through business trainings. However, the effects of existing business trainings on entrepreneurial success have so far been limited. One promising alternative training approach that has emerged in the last years is personal initiative training, which teaches self-starting, future-oriented, and persistent entrepreneurial behavior. This dissertation helps to improve the understanding of personal initiative training by shedding light on the mechanisms through which it affects business success, on supporting factors, and on its long-term impacts. Chapter 1 provides an overview on the topic of personal initiative training for entrepreneurs in developing countries. Chapter 2 introduces personal initiative training and other proactive behavior trainings in various contexts of work, including entrepreneurship. The chapter presents action regulation theory and the theory on personal initiative as the theoretical foundation of the training. In addition, the chapter provides insights into training and evaluation methods and makes recommendations for the successful implementation of personal initiative training. Chapter 3 offers a first answer to the question how personal initiative after training can be maintained over time. The chapter introduces training participants' need for cognition as beneficial factor for post-training personal initiative maintenance. Chapter 4 explains how action regulation trainings like personal initiative training contribute to poverty reduction in developing countries by supporting entrepreneurial success. Chapter 5 enlarges upon the topic of personal initiative training for entrepreneurial success in developing countries. The chapter focuses on how personal initiative training supports female entrepreneurs in developing countries by helping them to overcome the uncertainty involved in entrepreneurial actions. Chapter 6 summarizes the overall findings and illustrates the theoretical and practical implications that result from this dissertation. In sum, this dissertation makes a contribution to the better understanding of personal initiative training and its effects on entrepreneurship in developing countries and thereby helps to create effective interventions to combat poverty in developing countries.
In this dissertation the relation between time headway in car following and the subjective experience of a driver was researched. Three experiments were conducted in a driving simulator. Time headways in a range of 0.5 to 4.0 seconds were investigated at 50km/h, 100km/h, and 150km/h under varied visibility conditions and at differing levels of driver control over the car. The main research questions addressed the possible existence of a threshold effect for the subjective experience of time headways and the influence of vehicle speed, forward visibility, and vehicle control on the position of time headway thresholds. Furthermore, the validity of zero-risk driver behavior models was investigated. Results suggest that a threshold exists for the subjective experience of time headways in car following. This implies that the subjective experience of time headways stays constant for a range of time headways above a critical threshold. The subjective experience of a driver is only influenced by time headway once this critical time headway threshold is passed. Speed does not influence preferred time headway distances in self- and assisted-driving, i.e. time headway thresholds are constant for different speeds. However, in completely automated driving preferred time headways are influenced by vehicle speed. For higher speeds preferred time headways decrease. A reduction of forward visibility leads to a shift in preferred time headways towards larger time headways. Results of this dissertation give credence to zero-risk models of driver behavior.
Organizational culture is widely acknowledged to be a driver of organizational effectiveness. However, existing empirical research tends to focus on investigating the links between individual, isolated culture dimensions and effectiveness outcomes. This approach is at odds with the theoretical roots of organizational culture and does not do justice to the complex reality that most organizations face. This issue is addressed by this dissertation, which is comprised of four studies. Study 1 investigated the psychometric quality and cultural equivalence of three culture measures in a German context, based on a sample of 172 employees in a bank. The results suggested that the German versions of the Denison Organizational Culture Survey and the Organizational Culture Profile performed satisfactorily, while results regarding the GLOBE survey fell short of expectations. Study 2 reviewed the literature on the link between culture and effectiveness with a focus on studies that treat organizational culture as a holistic phenomenon. The review yielded four kinds of holistic approaches (aggregation-based, agreement-based, moderation- or mediation-based, and configuration-based). Study 3 investigated how a change in organizational culture induced by an M&A project impacts employee commitment. Based on a sample of 180 employees in a German organization, the findings suggest that individuals perceive cultural change differently, that cultural stability is positively related to employee commitment, and that group-level leader-member exchange and individual self-efficacy moderate this relationship. Study 4 introduced a new theoretical perspective (set theory) and a novel methodology (fuzzy set qualitative comparative analysis) to the field of organizational culture. Across two samples (1170 employees in a financial service provider and 998 employees in fashion retailer), results indicated that culture dimensions do not operate in isolation, but jointly work together in achieving different effectiveness outcomes.