Die Bedeutung institutioneller Regeln für das Handeln an Börsen. Eine soziologische Perspektive auf Aktienrückkäufe in Deutschland

The amendment of the German Stock Companies Act in 1998 regarding the repurchase of shares makes it possible to study the acceptance of a capital market strategy at managerial level as well as its effects on investors. Both are sociologically intertwined with the belief of the agents in the efficiency of share repurchases. In the U.S., this pattern has been observed ever since the prevailing of the “Agency Logic”. Based on the largest data set so far, the paper shows that repurchase programs have also been well established in the German business world in the meantime. Short-term market reactions are significantly positive and imply an informal, yet institutionalized rule of action for investors. However, both trends apply especially in times of negative markets and, generally, not in the long-run—which makes them a “bad signal” for private investors. The results present robust evidence in central aspects against the dominant economic explanation (the “Signalling Theory”) and suggest practical actions for politicians, entrepreneurs and investors.     

Perceptions and prevalence of stalking in a male sample

Abstract

Most research into stalking has focused on males as perpetrators and females as victims. The present study investigated firstly how males perceive the crime of stalking and secondly the prevalence of stalking and other intrusive activities in a male population. A sample of 210 British men was asked to indicate which of a continuum of 42 behaviours they believed to represent stalking. Clear subtypes of perceived stalking were identified, and these did not significantly differ from those produced by a female sample in earlier work (Sheridan, Davies and Boon, 2001). Thus, male and females hold similar views on which activities do and do not constitute ‘stalking’, Respondents were then asked to indicate whether they had personal experience of the same 42 behaviours and if they had, to provide free narrative on their ‘worst experience’. As expected, males reported substantially less experience of intrusive behaviour than females, and just 5.2% were judged to have suffered ‘stalking’. Whilst this figure is significantly below estimates made for females, it still indicates a notable risk for males and suggests that complaints of stalking made by males should be taken as seriously as those made by females.     

Celebrity worship,addiction and criminality

Abstract

Two studies assessed the relationship between celebrity worship and (i) addiction (n=1359) and (ii) criminality (n=2158). Overall Celebrity Attitude Scale (CAS) scores correlated positively with Eysenck Personality Questionnaire – Revised (EPQ-R) Addiction and Criminality sub-scale scores. In further support of the absorption–addiction model of celebrity worship (McCutcheon, Lange, & Houran, 2002, Conceptualization and measurement of celebrity worship. British Journal of Psychology, 93, 67–87.), addiction correlated positively with one component of celebrity worship, and criminality correlated positively with all four components produced by the current work. Different types of celebrity worship were associated with preferences for celebrities from particular domains. For instance, those scoring highly on the “Deleterious Imitation” component favoured music celebrities, as opposed to political figures. It was concluded that pathological celebrity worshippers are seeking a personal identity and are drawn to particular celebrities. Imitating these celebrities can have negative consequences for the worshipper.     

Civic Engagement,Pedagogy, and Information Technology on Web Sites for Youth

Scholars of political socialization are paying increasing attention to how the Internet might help cure the civic disengagement of youth. This content analysis of a sample of 73 U.S.-based civic Web sites for youth introduces a framework for evaluating Web sites' strategies for fostering active communication for citizenship. We offer the first systematic assessment of the extent to which a broad range of Web sites aim to develop young people's abilities to use information and communication technology (ICT) as a vehicle for civic participation and to engage with ICT as a policy domain that encompasses issues (such as freedom of speech and intellectual property rights) that shape the conditions for popular sovereignty online. The study finds low levels of interactive features (such as message boards) that allow young people to share editorial control by offering their own content. In addition, few sites employ active pedagogical techniques (such as simulations) that research suggests are most effective at developing civic knowledge, skills, and participation. We also find little attention to ICT policy issues, which could engage budding citizens in debates over the formative conditions for political communication in the information age. We conclude with suggestions for civic Web site designers and hypotheses for user studies to test.     

Understanding the factors that affect the severity of juvenile stranger sex offenses: the effect of victim characteristics and number of suspects

Understanding factors that affect the severity of a juvenile-stranger sexual assault has implications for crime prevention, and potentially, the assessment and treatment of juvenile sex offenders. This study investigated how victim characteristics and the number of suspects affected the use of physical violence and weapons and the occurrence of penetration in 495 allegations of sexual assault committed by juveniles against strangers. Statistically significant interactions between victim age and gender were found for occurrence of penetration and use of violence. Differences in offense characteristics were also found between offenses with varying victim-suspect age differences. When comparing the rate of penetration in the presence and absence of violence, little change was observed for lone suspects. However, the rate of penetration increased significantly for groups in the presence of physical violence, suggesting that violence in this context may be more expressive than instrumental. Theoretical explanations and practical implications are considered.     

Welfare Reform: Prescription for Abuse? A Report on New Research Studies Documenting the Relationship of Domestic Violence and Welfare

Anecdotally, welfare‐to‐work programs have documented that domestic violence serves as a welfare‐to‐work barrier by partners' interference with education, training and work, or by physical or mental trauma which also prevents employment. Four new research studies, which, although using different methods, including random and nonrandom surveys of welfare caseloads and random neighborhood surveys, document high and remarkably consistent prevalence of domestic violence within welfare caseloads. Although much more needs to be known, the prevalence of domestic violence in these women's lives requires specific domestic violence‐sensitive welfare policies lest women become injured during the welfare‐to‐work process.     

Liberalism,and the limits of pluralism

The primary aims of this article are (a) to examine the importance of cultural norms and what part they play in requiring us to tolerate others out of respect, and (b) to formulate some guidelines designed to prescribe boundaries to liberty and tolerance conducive to safeguard the rights of individuals and, in turn, democracy. I argue that a liberal democracy can interfere in the business of its sub‐cultures when some cultural norms subvert the basic principles upon which a liberal society is founded. I proceed by making a further radical claim that democracy may prevent cultural groups from entering society if their conceptions of the good essentially conflict with its norms. My basic argument is that considerations of context and intentions must be taken into account, and that they may require the introduction of constraints. I conclude by considering the question whether or not the intolerant group has any right to complain, arguing that it does not.1     

Die Überprüfung der Jahresabrechnung auf ihre Richtigkeit (§ 34 Abs 3 WEG)

Die Jahresabrechnung ist für die Wohnungseigentümer von besonderer Bedeutung, weil sie so Einblick in die Verwaltung der Liegenschaft erhalten und die Tätigkeit des Verwalters kontrollieren können. Nach § 34 Abs 3 WEG hat das Gericht über Antrag eines Wohnungseigentümers die Abrechnung des Verwalters auf ihre Richtigkeit zu überprüfen. Die gegenständliche Untersuchung beschäftigt sich mit der Frage, was unter einer ?richtigen“ Abrechnung zu verstehen ist und inwieweit ein Fehlverhalten des Verwalters im Rechnungslegungsverfahren aufgegriffen werden kann.