New Product Portfolio Performance in Family Firms

This study investigates the relationship between top management team (TMT) innovation orientation and new product portfolio performance in small and medium-sized family firms by exploring two family firm-specific sources of TMT diversity as moderators: the number of generations involved in the TMT and the ratio of family members in the TMT. Results indicate that family-induced diversity in the TMT has opposing moderating effects. Although a positive relationship exists between TMT innovation orientation and new product portfolio performance when multiple generations are involved in the TMT, TMT innovation orientation and new product portfolio performance experience a negative relationship when the ratio of family members in the TMT is high. The study discusses theoretical and managerial implications of the findings and develops avenues for future research.

Psychological, Educational and Sociological Perspectives on Success and Well-Being in Career Development

Back Cover Text This collection covers how success and well-being relate to each other in early career development in the domains of employment and education. It gives a conceptual overview of success and well-being as established in the psychological research tradition, complemented by educational and sociological approaches. The volume presents articles on success and well-being in applied contexts, such as well-being as an individual resource during school-to-work transition, or well-being and success at the workplace. Work psychologists, social psychologists, educational researchers, and sociologists will find this book valuable, as it provides unique insights into social and psychological processes afforded by the combination of disciplines, concepts, and a diversity of approaches. Table of Contents Acknowledgements 1. Introduction Robin Samuel, Manfred Max Bergman, Anita C. Keller and Norbert K. Semmer 2. The Influence of Career Success on Subjective Well-Being Andrea E. Abele-Brehm 3. Upper-Secondary Educational Trajectories and Young Men’s and Women’s Self-Esteem Development in Switzerland Sybille Bayard, Monika Staffelbach, Phillip Fischer and Marlies Buchmann. 4. Young People’s Progress after Dropout from Vocational Edu-cation and Training: Transitions and Occupational Integration at Stake. Longitudinal Qualitative Perspective Barbara Duc and Nadia Lamamra 5. Success, Well-Being and Social Recognition: An Interactional Perspective on Vocational Training Practices Stefano A. Losa, Barbara Duc and Laurent Filliettaz. 6. Agentic Pathways toward Fulfillment in Work Jeylan T. Mortimer, Mike Vuolo and Jeremy Staff 7. The How and Why of the Relationship between Job Insecuri-ty, Subjective Career Success, and Turnover Intention Cécile Tschopp and Gudela Grote 8. Work Experiences and Well-Being in the First Years of Professional Work in Switzerland: A Ten-Year Follow-up Study Wolfgang Kälin, Anita C. Keller, Franziska Tschan, Achim Elfering and Norbert K. Semmer 9. The Meaning and Measurement of Well-Being as an Indicator of Success Anita C. Keller, Norbert K. Semmer, Robin Samuel and Manfred Max Bergman

Language as a barrier and facilitator for women's career progress

Purpose When applying for leadership positions or acting as leaders, women are still perceived with a ‘lack of fit’, thus hired less likely and evaluated less favorably than their male counterparts. In many languages, different language forms can be used to refer to both women and men: masculine forms (e.g., CEO in German: ‘Geschäftsführer’) and alternative forms (e.g., feminine‐masculine word pairs, CEO in German ‘Geschäftsführerin/Geschäftsführer’). We assumed that the use of masculine forms endorses the ‘lack of fit’ for women in leadership, whereas alternative forms reduce it. Design/Methodology Two studies tested the hypotheses by manipulating language forms (masculine forms vs. alternative forms) and gender of the target to hire/evaluate (female vs. male). Results The results indicated as predicted that masculine forms lead to the ‘lack of fit’ for women in the leadership context, whereas alternative forms reduce it. Women were less likely to be employed for leadership positions (Study 1) and evaluated less favorably as leaders (Study 2) than their male counterparts with masculine forms. However, with alternative forms no differences in employment decisions and evaluations of women and men were found. Limitations These two studies were conducted with student‐samples. Further research is needed to replicate effects with relevant samples as HRmanagers and to investigate underlying mechanisms. Research/Practical Implications Organizations may use alternative forms instead of masculine forms in job advertisements for leadership positions to overcome barriers for women in leadership. Originality/Value These are the first studies in testing the effects of language forms in the leader selection and evaluation.

Lernprozesse dokumentieren, reflektieren und beurteilen. Lerntagebuch und Portfolio in Bildungsforschung und Bildungspraxis

Die Beiträge greifen "den Wandel von einer Lehr- hin zu einer Lernkultur" auf und konzentrieren sich dabei auf "zwei Indikatoren dieses Wandels: die Einführung von Lerntagebüchern und die Implementierung von Portfolios im Bildungsbereich, und zwar im schulischen Unterricht, in der Lehrer-Grundausbildung sowie in der Weiterbildung. Der Lerntagebuch- und Portfolio-Ansatz implizieren eine bestimmte Haltung gegenüber dem Lernen und Lehren. Der Einsatz von Tagebüchern und Portfolios führt Lehrende dazu, ihren Unterricht für neue Zugänge zu öffnen und ihre Rolle als Lernbegleiter/innen und -berater/innen zu professionalisieren. Andererseits erfordern Tagebücher und Portfolios von Lernenden eine aktive, selbstreflexive und eigenverantwortliche Auseinandersetzung mit ihrem Lernprozess. In diesem Band werden zum einen praxisbezogene Erfahrungen, zum anderen aktuelle Erkenntnisse aus der Forschung zum Potenzial des Lerntagebuch- und Portfolio-Ansatzes präsentiert. Jeweils drei bis fünf Beiträge zum Kontext Schule, Hochschule und Weiterbildung sind drei Hauptteilen zugeordnet: 1. Grundüberlegungen zur neuen Lernkultur und zur Arbeit mit Lerntagebuch bzw. Portfolio; 2. Lerntagebücher in Forschung und Praxis; 3. Portfolios in Forschung und Praxis.

Portfolio-optimization models for small investors

Since 2010, the client base of online-trading service providers has grown significantly. Such companies enable small investors to access the stock market at advantageous rates. Because small investors buy and sell stocks in moderate amounts, they should consider fixed transaction costs, integral transaction units, and dividends when selecting their portfolio. In this paper, we consider the small investor’s problem of investing capital in stocks in a way that maximizes the expected portfolio return and guarantees that the portfolio risk does not exceed a prescribed risk level. Portfolio-optimization models known from the literature are in general designed for institutional investors and do not consider the specific constraints of small investors. We therefore extend four well-known portfolio-optimization models to make them applicable for small investors. We consider one nonlinear model that uses variance as a risk measure and three linear models that use the mean absolute deviation from the portfolio return, the maximum loss, and the conditional value-at-risk as risk measures. We extend all models to consider piecewise-constant transaction costs, integral transaction units, and dividends. In an out-of-sample experiment based on Swiss stock-market data and the cost structure of the online-trading service provider Swissquote, we apply both the basic models and the extended models; the former represent the perspective of an institutional investor, and the latter the perspective of a small investor. The basic models compute portfolios that yield on average a slightly higher return than the portfolios computed with the extended models. However, all generated portfolios yield on average a higher return than the Swiss performance index. There are considerable differences between the four risk measures with respect to the mean realized portfolio return and the standard deviation of the realized portfolio return.

Hope as a resource for self-directed career management: Investigatiing mediating effects on proactive career behaviors, life and job satisfaction

ABSTRACT Hope is increasingly recognized as an important psychological resource for career development, yet the empirical research on its functioning in this domain is sparse. This paper describes an investigation of how dispositional hope is related to career decidedness, career planning, and career self-efficacy beliefs and whether these more proximal career attitudes mediate the effects of hope on proactive career behaviors, life satisfaction, and job satisfaction. This investigation was conducted using two independent samples of university students (N = 1,334) and working professionals (N = 233). The results showed that in both samples, hope was significantly related but empirically distinct from career variables. In both samples, hope had a direct effect on proactive career behaviors, partially mediated by more career planning. Hope had significant direct and indirect effects on life satisfaction among students, mediated by the three career development attitudes. Although hope was significantly correlated with job satisfaction among employees, no direct effect of hope was found in the mediation model, but an indirect effect through career decidedness was found. The results suggest that hope is an important resource for proactive career development at different career stages and that the positive relation of hope to life and job satisfaction can partially be attributed to the positive relation between hope and favorable career development attitudes.

The Career Engagement Scale: Development and validation of a measure of proactive career behaviors

Careers today increasingly require engagement in proactive career behaviors; however, there is a lack of validated measures assessing the general degree to which somebody is engaged in such career behaviors. We describe the results of six studies with six independent samples of German university students (total N = 2,854), working professionals (total N = 561), and university graduates (N = 141) that report the development and validation of the Career Engagement Scale - a measure of the degree of which somebody is proactively developing her or his career as expressed by diverse career behaviors. The studies provide supprt for measurement invariance across gender and time. In support of convergent and discriminant validity, we find that career engagement is more prevalent among working professionals than among university students and that this scale has incremental validity above several specific career behaviors regarding its relation to vocational identity clarity and career self-efficacy beliefs among students and to job and career satisfaction among employees. In support of incremental predictive validity, beyond the effects of several more specific careeer behaviors, career engagement while at university predicts higher job and career satisfaction several months later after beginning work.