Shareholder value in an adverse environment: the German case

The German political economy has often been cited as a classical case of non-shareholder value orientation. Its productionist, long-term, consensus orientation has often been contrasted with the 'Anglo-Saxon approach'. The influence of shareholders who press for shareholder value and the importance of the equity market have traditionally been low. But there are signs of change. In this article we describe some of these changes and try to assess the dynamics of this change process. First we show that the limited role of the equity market for company financing and for private household savings still provides a very narrow base for a shareholder value economy in Germany. The central pillars of the German system of corporate governance - the dominating role of banks, the system of co-determination and the company centred management system - are not crumbling. Change in the direction of shareholder value is therefore limited.     

National Parliaments and the Eurozone Crisis: Taking Ownership in Difficult Times?

The eurozone crisis suggests a significant reinforcement of executive dominance in EU policy-making. Opaque emergency decisions taken at European summits as well as treaties established outside of the EU legal framework facilitate the side-lining of democratically elected chambers. This development entails the risk of a new wave of de-parliamentarisation in EU policy-making. An effective scrutiny of crisis management by national parliaments is, however, indispensable for taking national ownership of the reforms in the Economic and Monetary Union (EMU). This paper investigates national parliaments’ involvement in the development of instruments to combat the crisis. Based on a quantitative dataset of crisis-related parliamentary activities in 2010–2012, the article observes a very uneven engagement in the scrutiny of crisis management. Institutional prerogatives in EU affairs as well as macro-economic factors can partly explain the observed variation. Surprisingly, however, crisis-related parliamentary activity is not a reaction to Eurosceptic attitudes either in parliament or among the public.     

Coalition Policy-Making under Constraints: Examining the Role of Preferences and Institutions

While much has been written about the formation and termination of coalitions, comparatively little attention has been paid to the policy output of multiparty governments. The present study attempts to narrow this research gap by analysing policy-making in three Austrian coalition governments between 1999 and 2008. Drawing on the party mandate literature, a manually coded textual analysis of election manifestos is conducted that yields a dataset containing over 1,100 pledges. The fulfilment of these pledges is taken as the dependent variable in a multivariate analysis. The results indicate that institutional determinants (adoption in the coalition agreement, ministerial control, and policy status quo) significantly influence the chances of pledge fulfilment and thus present a powerful predictor of coalition policy output. By contrast, factors related to parties’ preferences (consensus between parties, policy distance, pledge saliency, and majority support in parliament) do not have an impact.     

The Europeanisation of the German Bundestag: Institutional change and informal adaptation

At first glance, the Europeanisation of the German Bundestag seems quite straightforward: in reaction to the process of European integration the Bundestag acquired a set of comparatively strong participation and scrutiny rights in EU politics. It therefore seems rather astonishing that German members of parliament make only very little use of these rights. Different explanations have been put forward in the literature, such as the complicated decision-making system of the EU and the government's gate-keeper position within it, institutional flaws of the German scrutiny system as well as the overall consensus on European integration and the low electoral salience of EU issues. The paper contributes to this discussion in two respects: On the one hand, it offers an additional explanation for the infrequent use of formal instruments. The main argument is that the formal instruments of scrutiny in EU affairs are incompatible with both the overall logic of a parliamentary system as well as the challenges of policy-making in the EU multilevel system. On the other hand, the paper argues that the exclusive focus on the use of formal parliamentary scrutiny rights leads us to overlook more informal means of parliamentary influence and therefore to underestimate the involvement of German parliamentarians in EU affairs. Thus, in order to fully assess processes of parliamentary Europeanisation, we need to take forms of informal or strategic Europeanisation into account.     

The nexus between science and industry: evidence from faculty inventions

Knowledge transfer from science to industry has been shown to be beneficial for the corporate partner. In order to get a better understanding of the reasons behind these positive effects, this study focuses on the junction of science and industry by comparing characteristics of academic inventions that are transferred to industry and those staying in the public sector. Academic inventions are identified via patent applications of German academic scientists. We find that academic patents assigned to corporations are more likely to enable firms reaping short term rather than, possibly more uncertain, long-run returns, in contrast to patents that stay in the public sector. Firms also strive for academic inventions with a high blocking potential in technology markets. Academic patents issued to corporations appear to reflect less complex inventions as compared to inventions that are patented by the public science sector.     

“I’ll stop procrastinating now!” Fostering specific processes of self-regulated learning to reduce academic procrastination

ABSTRACT

Academic procrastination is considered to be a result of self-regulation failure having detrimental effects on students’ well-being and academic performance. In the present study, we developed and evaluated a group training that aimed to reduce academic procrastination. We based the training on a cyclical process model of self-regulated learning, thus, focusing on improving deficient processes of self-regulated learning among academic procrastinators (e.g., time management, dealing with distractions). The training comprised five sessions and took place once a week for 90?min in groups of no more than 10 students. Overall, 106 students completed the training. We evaluated the training using a comprehensive control group design with repeated measures (three points of measurement); the control group was trained after the intervention group’s training. The results showed that our training was successful. The trained intervention group significantly reduced academic procrastination and improved specific processes of self-regulated learning (e.g., time management, concentration), whereas the untrained control group showed no change regarding these variables. After the control group had also been trained, the control group also showed the expected favorable changes. The students rated the training overall as good and found it recommendable for procrastinating friends. Hence, fostering self-regulatory processes in our intervention was a successful attempt to support students in reducing academic procrastination. The evaluation of the training encourages us to adapt the training for different groups of procrastinators.     

Sometimes Less Is More: Censorship,News Falsification,and Disapproval in 1989 East Germany

Does more media censorship imply more regime stability? We argue that censorship may cause mass disapproval for censoring regimes. In particular, we expect that censorship backfires when citizens can falsify media content through alternative sources of information. We empirically test our theoretical argument in an autocratic regime—the German Democratic Republic (GDR). Results demonstrate how exposed state censorship on the country's emigration crisis fueled outrage in the weeks before the 1989 revolution. Combining original weekly approval surveys on GDR state television and daily content data of West German news programs with a quasi-experimental research design, we show that recipients disapproved of censorship if they were able to detect misinformation through conflicting reports on Western television. Our findings have important implications for the study of censoring systems in contemporary autocracies, external democracy promotion, and campaigns aimed at undermining trust in traditional journalism.