Do Words Matter? The Impact of Communication on the PIIGS' CDS and Bond Yield Spreads during Europe's Sovereign Debt Crisis

The paper aims to shed light on the role of communication in the European debt crisis. It examines the effects of public statements by ECB Governing Council members, EU officials and national representatives on the PIIGS' CDS and bond yield spreads. The focus lies on dovish statements that signal strong determination in the rescue of indebted countries, and hawkish statements that indicate limited commitment to support the PIIGS and protect its creditors. The analysis of daily data for the period between January 1, 2009 and August 12, 2011 in an EGARCH framework suggests that communication by representatives of Germany, France, and the EU as well as ECB Governing Council members had an immediate impact on both types of securities. No effects.

“No fim não vai ficar nada”: exploração dos recursos florestais em Cabo Delgado relatório do trabalho de campo em Namiune, Nkonga e 5º Congresso: Relatório do trabalho de campo nas concessões COMADEL e a FMJ, Cabo Delgado, Novembro de 2010

This report focuses on forest product users in the COMADEL and FMJ forest concessions, Cabo Delgado, as well as the effects of their combined strategies and activities on sustainable use of natural resources and sustainable socio-economic development of the region. The aim is to contribute to understanding the effects of these strategies and activities on forest regeneration, ecosystem services and on resource sustainability. The study examines the role played by the Committees of Natural Resources in forest exploitation. Data obtained from interviews and observations were used to complement and update a variety of existing data from oral and written sources dealing with forest regeneration in Cabo Delgado. These existing materials originate from previous studies conducted in the context of the ESAPP project that started more than two years ago. They include results from Learning for Sustainability workshops (LforS, http://www.cde.unibe.ch/Pages/Project/2/14/Learningfor- Sustainability-Extension-Approach.aspx), as well as field reports, academic studies, management plans used by concessionaires, and others. The interviews and observations took place more or less continuously from the beginning of this phase of the project in 2008. Interviews were systematically conducted with owners of concessions operating in the region, employees of logging companies, residents of villages within the existing concessions, government officials and others. It was not possible to collect information directly from poachers in part due to the illegal nature of their work. Information on these activities was obtained indirectly through members of the Committees of Natural Resources, the concessionaire, and its workers, as well as by observing the traces of extraction – traps, bones and parts of slaughtered animals, tree stumps, material ready for transportation, etc. The main results indicate that extraction by the logging company MITI Ltd. and others acting in the region, by poachers and by other actors – e.g. sawyers using manual saws – put a lot of pressure on marketable species, particularly Millettia stuhlmannii, Afzelia quanzensis and Swartzia madagascariensis. Natural regeneration of forests in northern Cabo Delgado is being compromised by the combination of various extracting activities and uncontrolled fires. MITI Ltd. continued the pattern of exploitation of forest resources that was characteristic of companies operating in the region earlier, such as COMADEL. MITI Ltd. failed to implement the broad range of development and conservation activities encouraged by the new legislation on forest concessions that was created to promote sustainable use of resources.

Pitfalls of practicing cancer epidemiology in resource-limited settings: the case of survival and loss to follow-up after a diagnosis of Kaposi's sarcoma in five countries across sub-Saharan Africa.

BACKGROUND Survival after diagnosis is a fundamental concern in cancer epidemiology. In resource-rich settings, ambient clinical databases, municipal data and cancer registries make survival estimation in real-world populations relatively straightforward. In resource-poor settings, given the deficiencies in a variety of health-related data systems, it is less clear how well we can determine cancer survival from ambient data. METHODS We addressed this issue in sub-Saharan Africa for Kaposi's sarcoma (KS), a cancer for which incidence has exploded with the HIV epidemic but for which survival in the region may be changing with the recent advent of antiretroviral therapy (ART). From 33 primary care HIV Clinics in Kenya, Uganda, Malawi, Nigeria and Cameroon participating in the International Epidemiologic Databases to Evaluate AIDS (IeDEA) Consortia in 2009-2012, we identified 1328 adults with newly diagnosed KS. Patients were evaluated from KS diagnosis until death, transfer to another facility or database closure. RESULTS Nominally, 22% of patients were estimated to be dead by 2 years, but this estimate was clouded by 45% cumulative lost to follow-up with unknown vital status by 2 years. After adjustment for site and CD4 count, age <30 years and male sex were independently associated with becoming lost. CONCLUSIONS In this community-based sample of patients diagnosed with KS in sub-Saharan Africa, almost half became lost to follow-up by 2 years. This precluded accurate estimation of survival. Until we either generally strengthen data systems or implement cancer-specific enhancements (e.g., tracking of the lost) in the region, insights from cancer epidemiology will be limited.

Handbook of Swiss Politics

Approaching Switzerland as a “laboratory” for democracy, this Handbook contributes to a refined understanding of the res publica. Over the years, the Handbook of Swiss Politics has established itself as a classic work. This new and extended second edition of the Handbook comprises 32 chapters, all by leading Swiss political scientists. The contributors write about fundamentals, institutions, interest groups, political parties, new social movements, the cantons and municipalities, elections, popular votes, policy processes and public policies. They address several important issues in the current international debates, such as the internationalization of domestic politics, multi-level governance, and the role of metropolitan agglomerations. Nine new chapters enrich this second, completely updated version. The section on public policies has been significantly extended, and covers a dozen of policy domains. Grounded on the latest scientific knowledge, this volume also serves as an indispensable reference for a non-academic audience of decision-makers, diplomats, senior officials and journalists.

Applying prospect theory to predict new venture creation

Although prior research on new venture creation has identified several antecedents that differentiate entrepreneurs from non-entrepreneurs, scholars still have an incomplete understanding of the factors and decision processes that lead an individual to become an entrepreneur. By applying prospect theory, we introduce the reference point as an important antecedent of new venture creation. Testing our research model and hypotheses with entrepreneurs and employees, results show that entrepreneurs set more aspiring reference points and therefore find themselves more often in a perceived loss situation. Results are also robust when testing for entrepreneurial intention of business graduate students. According to prospect theory, the perceived loss triggers more risk-seeking behavior. Summing up, the reference point has a positive effect on new venture creation and differentiates entrepreneurs from nonentrepreneurs. We discuss theoretical and managerial implications of the findings and develop avenues for future research.

Institutions as key drivers of collective action in WUAs [Water User Associations] of Uzbekistan

This paper presents a multifactor approach for performance assessment of Water Users Associations (WUAs) in Uzbekistan in order to identify the drivers for improved and effi cient performance of WUAs. The study was carried out in the Fergana Valley where the WUAs were created along the South Fergana Main Canal during the last 10 years. The farmers and the employees of 20 WUAs were questioned about the WUAs’ activities and the quantitative and qualitative data were obtained. This became a base for the calculation of 36 indicators divided into 6 groups: Water supply, technical conditions, economic conditions, social and cultural conditions, organizational conditions and information conditions. All the indicators assessed with a differentiated point system adjusted for subjectivity of several of them give the total maximal result for the associations of 250 point. The WUAs of the Fergana Valley showed the score between 145 and 219 points, what refl ects a highly diverse level of the WUAs performance in the region. The analysis of the indicators revealed that the key points of the WUA’s success are the organizational and institutional conditions including the participatory factors and awareness of both the farmers and employees about the work of WUA. The research showed that the low performance of the WUAs is always explained by the low technical and economic conditions along with weak organization and information dissemination conditions. It is clear that it is complicated to improve technical and economic conditions immediately because they are cost-based and cost-induced. However, it is possible to improve the organizational conditions and to strengthen the institutional basis via formal and information institutions which will gradually lead to improvement of economic and technical conditions of WUAs. Farmers should be involved into the WUA Governance and into the process of making common decisions and solving common problems together via proper institutions. Their awareness can also be improved by leading additional trainings for increasing farmers’ agronomic and irrigation knowledge, teaching them water saving technologies and acquainting them with the use of water measuring equipment so it can bring reliable water supply, transparent budgeting and adequate as well as equitable water allocation to the water users.

Validierung einer deutschsprachigen Version des Career Futures Inventory (CFI): Berufliche Anpassungsfähigkeit, beruflicher Optimismus, Arbeitsmarktwissen und Berufserfolg

Das Career Futures Inventory (CFI; Rottingaus, Day & Borgen, 2005) erfasst die drei laufbahnbezogenen Zukunftsfaktoren career adaptability (Berufliche Anpassungsfähigkeit), career optimism (Beruflicher Optimismus) und knowledge of job market (Arbeitsmarktwissen). Die Ziele dieser Studie waren (a) eine deutschsprachige Version des CFIs zu konstruieren und (b) an zwei Stichproben mit Erwerbstätigen mittels (c) unterschiedlicher Indikatoren des Berufserfolgs und anhand von Persönlichkeitseigenschaften zu validieren. Es konnte in beiden Stichproben (N1 = 153; N2 = 110) die 3-faktorielle Struktur des CFIs nachgewiesen werden. Zudem konnten Annahmen zur konvergenten und diskriminanten Validität in beiden Stichproben bestätigt werden, da die CFI-Faktoren in erwarteter Richtung mit Berufserfolg (z. B. Beförderungen, Karrierezufriedenheit) bzw. Persönlichkeitseigenschaften (d. h. Big Five) korrelierten bzw. nicht korrelierten. Eine Analyse der inkrementellen Validität zeigte, dass Arbeitsmarktwissen zusätzliche Varianz beim Gehalt über Kontrollvariablen und Persönlichkeit hinaus erklärte. Hinsichtlich Karrierezufriedenheit war dies für beruflichen Optimismus der Fall. Diese Validierungsstudie ermöglicht den Einsatz des CFIs im deutschsprachigen Raum.

Sexual harassment over the telephone: Occupational risk at call centers

The phenomenon of sexually harassing telephone calls in the workplace has been studied only marginally. In the present study 106 employees working in call centres in Germany answered a questionnaire regarding their experiences of sexual harassment over the telephone. The following data are presented: description of the phenomenon, i.e. prevalence and characteristics, stress reactions of the victims, behavioural reactions and coping strategies, consequences and anticipated consequences; prediction of the stress reactions by characteristics of the situation; and employees' recommendations for coping with sexually harassing calls. It was found that the female employees were more often sexually harassed over the telephone at work than their male colleagues. Three out of four female employees had experienced sexually harassing telephone calls; in the majority of cases the harassers were men. Characteristic patterns of harassment included groaning, sexual insults, silence, and threats of sexual violence. Some 16% of the harassed female employees described these experiences as extremely stressful. If the harassment contained threats of sexual violence and groaning, the perceived physical response was stronger. Being subjected to sexual harassment over the telephone both at home and at work was a more severe stress than having the experience only in the workplace. In conclusion, employees' recommendations for coping with the occurrence of sexually harassing calls are described.

Should I Stay or Should I Go? Career Choice Intentions of Students with Family Business Background

Personal and motivational patterns of intentional founders have been researched in great depth; however, antecedents to career choices of intentional successors have been conspicuously missing in entrepreneurship research. By drawing on theory of planned behavior, we investigate how intentional founders, successors, and employees differ in terms of locus of control and entrepreneurial self-efficacy as well as independence and innovation motives. We find that transitive likelihood of career intent depends on degree of entrepreneurial self-efficacy and the independence motive. Unexpectedly, we see that high levels of internal locus of control lead to a preference of employment, which challenges traditional entrepreneurship research and suggests that the feasibility of an entrepreneurial career path does not automatically make it desirable. Our findings suggest that students with family business background are pessimistic about being in control in an entrepreneurial career, but optimistic about their efficacy to pursue an entrepreneurial career.