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.     

On the Nature of Tolerance: Dichotomous or Continuous?*

The purpose of this article is to reconsider the claim made recently by Mondak and Sanders that political tolerance ought to be thought to be a dichotomous rather than continuous variable. Using data from both Russia and the United States, I demonstrate that those Mondak and Sanders regard as uniquely tolerant are most likely no more than people who were given insufficient opportunity to express their intolerance. Even if such a phenomenon of “absolute tolerance” exists (all ideas expressed in all ways are to be tolerated), it is sufficiently rare that few practical implications are indicated for those doing empirical work on political tolerance and intolerance. * I appreciate the valuable comments of Jeffcry Mondak on an earlier version of this paper.     

Die Kolonien in Europa

Ohne Zusammenfassung

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Care-Politiken,Care-Arbeitsmarkt und Ungleichheit: Schweden,Deutschland und Italien im Vergleich

Social and demographic changes in western societies have led to a (re-)definition of social rights related to care-dependency and the introduction of further regulations of formal and informal care delivery. Care has increasingly become provided in the public sectors – the state, market and civic sector – and new types of cash benefits to support informal family care have been introduced. In this article, the concept of social care is used as a theoretical tool to analyse the relationship between the (re-)definition of social rights, the growth of a regular or grey care labour market and the related development of new forms of inequality according to socio-economic class and ethnicity in the female dominated area. The empirical comparison of the developments in Sweden, Germany and Italy reveals the dimensions of social rights – eligibility criteria, level and types of benefits – which are decisive for the growth of a regular and grey care labour market and the intersection of different forms of inequality.     

Nationale und globale Ungleichheit

The impact of globalization on the structure of social inequality is controversial discussed in actual debates. The national focused research is challenged by globalists. The article concentrates on the problem of order and shows how this is solved by the national structures of social inequality. In the next step the reasons for and against the national solution are presented. Finally the possibility of transnational constituting structures of social inequality is examined. How probable is the structuration of global inequality if basic elements of order are missing on this level?     

The Role of Perceived Parental Knowledge on Emerging Adults’ Risk Behaviors

The purpose of this study was to gain a clearer understanding of the relation between parents’ knowledge of their emerging-adult children and emerging adults’ risk behaviors. Participants included 200 undergraduate students between the ages of 18 and 25 (121 women, 78 men; M _age = 19.59, SD = 1.62) and both of their parents. Results revealed that knowledge of the emerging-adult child’s activities varied as a function of parent- and child-reports, and that child outcomes associated with parental knowledge were generally positive, including less drinking, drug use, and risky sexual behavior (although this varied as a function of reporter). The links between maternal knowledge and lower drug and alcohol use were particularly strong in the presence of maternal closeness. Implications for understanding the parent–child relationship during the transition to adulthood were discussed.

A Multi-mediation Model on the Relations of Bullying,Victimization, Identity,and Family with Adolescent Depressive Symptoms

This study investigated a multi-mediation model of the relationship between bullying behavior, peer victimization, personal identity, and family characteristics to adolescent depressive symptoms in 194 high school students, 12–18 years of age. In the first model, peer victimization mediated the relation between bullying behavior and depressive symptoms. In the second model, personal identity mediated the relation between peer victimization and depressive symptoms. In the final model, the two mediation models were combined. The relative influence of family characteristics on all variables in the two mediation models was studied using structural equation modeling. The results supported both mediation models and confirmed the influence of family characteristics on all variables in the mediation models. This study indicates that victimization by one’s peers has consequences for adolescents’ psychological health when their personal identity is affected. In addition, the study was able to model several processes in which family characteristics were related to adolescent depressive symptoms. Moreover, the final combined model (in which the two mediation models and the influence of family characteristics on all variables were confirmed) explained half of the variance in adolescent depressive symptoms.