Going Beyond Research on Goal Setting: A Proposed Role for Organizational Psychological Capital of Family Firms. Entrepreneurship Theory and Practice, Special Issue on Family Firms

Abstract: Kotlar and De Massis found that membership assortment and the number of organizational members, as well as the imminence of succession, influence goal diversity in family firms. They also showed that goal diversity can be managed and family-centered goals can be stabilized through professional and familial social interactions, driving the formation of collective commitment to family-centered goals (CCFG). Using this research as a point of departure, we propose that CCFG may impact family firm economic and noneconomic performance. Furthermore, we introduce to the family firm literature the organizational psychological capital (OPC), consisting of hope, efficacy, resilience, and optimism. We also suggest that OPC may be more prevalent in family firms than in nonfamily firms. Moreover, OPC of family firms may play an important role in the link between CCFG and economic as well as noneconomic performance. family firms | economics | entrepreneurship | goal setting | psychological capita

Editorial: toward getting some facts less snarled?

SUMMARY The dialogue sparked off by the World Bank's 1981 Accelerated Development Report has clearly been necessary and in many respects positive. It has resulted in significant reappraisal of some of the new conventional wisdom's initial tenets. Although far from monolithic in their analysis of the issues involved IDS members have tended to form a middle ground. Emphases have changed but three themes remain central: a stress on complexity as opposed to highly simplified analysis and policy; recognition of the diversity in sub?Saharan African economic contexts, structures, policies and performance; and the implications of interaction between different strands of analysis and policy. SOMMAIRE Le dialogue initié par le rapport sur le Développement accéléré de la Banque mondiale en 1981 était clairement très nécessaire et a été positif à de nombreux égards. Des réévaluations de grande portée en ont découlé en ce qui concerne certains des principes initiaux de la nouvelle sagesse classique. Bien qu'ils soient loin d'être monolithiques dans leur analyse des problèmes impliqués, les membres de IDS ont eu tendance à être modérés. L'accent a changé, mais trois thèmes restent essentiels: une insistance sur la complexité opposée à une analyse et à une politique simplifiées au plus haut point; reconnaissance de la diversité dans les contextes économiques, les structures, politiques et performances de l'Afrique subsaharienne; et les implications de l'interaction entre les différents courants de l'analyse et de la politique. RESUMEN El informe de Desarrollo Acelerado del Banco Mundial 1981 desencadenó un diálogo necesario y positivo desde distintos puntos de vista. Como consecuencia se han reconsiderado algunas premisas iniciales de la nueva ortodoxia. En lugar de ser monolíticos en su análisis de los temas, los integrantes del IDS han tendido a formar una posición intermedia. Aunque el énfasis ha cambiado, tres temas continúan siendo centrales: un acento en la complejidad en oposición a análisis y políticas simplificadas; el reconocimiento de la diversidad de contextos, estructuras, políticas y desempeño económico de la región del sub?Sahara del Africa; y, las implicancias de la interrelación entre diversos aspectos de análisis y políticas

Do individual investors have asymmetric information based on work experience

Abstract Using a novel dataset covering all individual investors' stock market transactions in Norway over 10 years, we analyze whether individual investors have a preference for professionally close stocks, and whether they make excess returns on such investments. After excluding own-company stock holdings, investors hold on average 11% of their portfolio in stocks within their two-digit industry of employment. Given the poor hedging properties of professionally close stocks, one would expect such investments to be associated with asymmetric information and abnormally high returns. In contrast, all our estimates of abnormal returns are negative, in many cases statistically significant. Overconfidence seems the most likely explanation for why individuals excessively trade in professionally close stocks

E_{11}, ten forms and supergravity

We extend the previously given non-linear realisation of E_{11} for the decomposition appropriate to IIB supergravity to include the ten forms that were known to be present in the adjoint representation. We find precise agreement with the results on ten forms found by closing the IIB supersymmetry algebra.Comment: 14 page

Magic N=2 supergravities from hyper-free superstrings

We show by explicit construction the existence of various four dimensional models of type II superstrings with N=2 supersymmetry, purely vector multiplet spectrum and no hypermultiplets. Among these, two are of special interest, at the field theory level they correspond to the two exceptional N=2 supergravities of the magic square that have the same massless scalar field content as pure N=6 supergravity and N=3 supergravity coupled to three extra vector multiplets. The N=2 model of the magic square that is associated to N=6 supergravity is very peculiar since not only the scalar degrees of freedom but all the bosonic massless degrees of freedom are the same in both theories. All presented hyper-free N=2 models are based on asymmetric orbifold constructions with N=(4,1) world-sheet superconformal symmetry and utilize the 2d fermionic construction techniques. The two exceptional N=2 models of the magic square are constructed via a "twisting mechanism" that eliminates the extra gravitini of the N=6 and N=3 extended supergravities and creates at the same time the extra spin-1/2 fermions and spin-1 gauge bosons which are necessary to balance the numbers of bosons and fermions. Theories of the magic square with the same amount of supersymmetry in three and five space-time dimensions are constructed as well, via stringy reduction and oxidation from the corresponding four-dimensional models.Comment: 27 page

The Rule of Law is Dead! Long Live the Rule of Law!

Polls show that a significant proportion of the public considers judges to be political. This result holds whether Americans are asked about Supreme Court justices, federal judges, state judges, or judges in general. At the same time, a large majority of the public also believes that judges are fair and impartial arbiters, and this belief also applies across the board. In this paper, I consider what this half-law-half-politics understanding of the courts means for judicial legitimacy and the public confidence on which that legitimacy rests. Drawing on the Legal Realists, and particularly on the work of Thurman Arnold, I argue against the notion that the contradictory views must be resolved in order for judicial legitimacy to remain intact. A rule of law built on contending legal and political beliefs is not necessarily fair or just. But it can be stable. At least in the context of law and courts, a house divided may stand

Late-Medieval Horse Remains at Cesis Castle, Latvia, and the Teutonic Order's Equestrian Resources in Livonia

EXCAVATIONS AT the castle complex of Cēsis, Latvia, uncovered an unusual find of large quantities of horse bones, some of which were partially articulated, along with equestrian equipment. These were associated with a destroyed building at the edge of the southern outer bailey. The horses included large males, most probably stallions, and pathology on several of the recovered vertebrae suggests these individuals had been used for riding. The size of the horses was within the range for medieval war horses, and the associated tack also pointed to prestigious riding animals. Radiocarbon dating of the bones placed them firmly within the Teutonic Order's period of rule. We conclude here that these horses fulfilled a military role in the final decades of the Teutonic Order’s rule in Livonia in the late 15th/early 16th century and that the better-known equestrian culture of late-medieval Prussia was comparable in character, if not in scale, to that in Livonia