IPO effects: corporate restructuring when a firm goes public

The public affairs of a firm issuing an initial public offering (IPO) are a critical part of the corporate restructuring efforts which firms face during the process of going public. In this paper, Bowman and Singh's (1993) definition is used to illustrate how issuing an IPO is a significant form of corporate restructuring. Public affairs are critical during both the pre‐IPO phase and during the period leading up to the IPO, as the firm must negotiate a heavily institutionalised process to successfully complete the issue. Here, the six‐year life of ‘Deja News’ is used as a way to illustrate and explain the public affairs during the process of preparing for and issuing an IPO. Copyright © 2004 Henry Stewart Publications     

Multiparty electoral competition in the Netherlands and Germany: A model based on multinomial probit

A typical assumption of electoral models of party competition is that parties adopt policy positions so as to maximize expected vote share. Here we use Euro-barometer survey data and European elite-study data from 1979 for the Netherlands and Germany to construct a stochastic model of voter response, based on multinomial probit estimation. For each of these countries, we estimate a pure spatial electoral voting model and a joint spatial model. The latter model also includes individual voter and demographic characteristics. The pure spatial models for the two countries quite accurately described the electoral response as a stochastic function of party positions. We use these models to perform a thought experiment so as to estimate the expected vote maximizing party positions. We go on to propose a model of internal party decision-making based both on pre-election electoral estimation and post-election coalition bargaining. This model suggests why the various parties in the period in question did not adopt vote maximizing positions. We argue that maximizing expected vote will not, in general, be a rational party strategy in multiparty political systems which are based on proportional representation.     

The Role of Exposure to Self-Injury Among Peers in Predicting Later Self-Injury

While researchers are beginning to reach consensus around key psychological correlates of non-suicidal self-injury (NSSI), comparatively less work has been done investigating the role and influence of peers. Given evidence that engagement in this behavior may be susceptible to peer influence, especially during the early stages of its course, the current study prospectively explored whether knowing a friend who self-injures is associated with the onset, severity, and subsequent engagement in NSSI. The moderating roles of adverse life events, substance use and previous suicidal behavior in this relationship also were explored. Self-report data were collected from 1,973 school-based adolescents (aged 12–18 years; 72 % female) at two time points, 1 year apart. Knowing a friend who self-injured, negative life events, psychological distress and thoughts of NSSI differentiated those who self-injured from those who did not, and also predicted the onset of NSSI within the study period. Further, adverse life events and previous thoughts of NSSI moderated the relationship between exposure to NSSI in peers and engaging in NSSI at Time 2. However, the effect of having a friend who self-injures was not related to the severity of NSSI. Having a friend who self-injures appears to be a risk factor for self-injury among youth who are experiencing high levels of distress. Implications of these findings are discussed.     

MAINTAINING A UNITARY STATE: COUNTER-TERRORISM,SEPARATISM, AND EXTREMISM IN XINJIANG AND CHINA

This essay reviews the history of Uighur related terrorism in Xinjiang as well as elsewhere in China and discusses the political motivations and effectiveness of the Chinese government in suppressing terrorism. The essay assesses both the motivations of the Uighurs engaged in terrorism, as well as the motivations for counter terrorist by the Chinese authorities. A key objective of the essay is to determine what are the political and other reasons that drive the Chinese government’s counter terrorism strategy and tactics and whether these have been effective or counter-productive. The essay assesses the counter terrorism strategy of the Chinese government in Xinjiang Province and across China, the political motivations for the strategy, the impact and success or otherwise. The essay discusses if the government is combatting terrorism, or separatism, or extremism, the confusion of these terms, and whether this has had any impact on the effectiveness of counter terrorism.