scholarly journals Do market participants perceive blockholders’ power and preferences? Locus of control, preference heterogeneity, and firm valuation in the Swiss context

2013 ◽  
Vol 10 (4) ◽  
pp. 31-46
Author(s):  
Katarina Sikavica ◽  
Esther Kessler
Keyword(s):  
Locus Of Control ◽  
Good Governance ◽  
Firm Valuation ◽  
Preference Heterogeneity ◽  
Conflicts Of Interests ◽  
Market Participants ◽  
Professional Management ◽  
Political Perspective ◽  
Control Research ◽  
The Impact

This study relies on preference heterogeneity and locus of control research to hypothesize about the impact of control types on firm valuation. We investigate whether market participants discriminate between control types when making investment decisions. Our empirical results of Swiss data suggest that control types represent discrete governance contexts with a unique set of conditions each related to a different level of principal-principal agency costs. Specifically, we find that firms with family ownership and professional management are valued more highly relative to other control configurations and that owners can use board and share structures to signal good governance. Our study thus provides support for a psychological and socio-political perspective of principal-principal conflicts of interests and expropriation of minority investors.

Toxic Political Leadership and the Problems of Professionals in Free State Municipalities

2019 ◽  
Vol 48 (1) ◽  
Author(s):  
David Matheakuena Mohale
Keyword(s):  
Good Governance ◽  
Political Leadership ◽  
Primary Source ◽  
Free State ◽  
Audit Report ◽  
Theoretical Understanding ◽  
Number Of Factors ◽  
Auditor General ◽  
Appointed Officials ◽  
The Impact

The 2016–17 Audit Report by the Auditor General points to the deterioration in audit results of South African municipalities. This deterioration confirms the perennial dysfunctionality of municipalities, at least from the governance perspective. Corporate governance is a function of leadership. Municipal councils are, therefore, responsible for the overall performance of municipalities they lead. Sound regulatory framework, good plans, clear strategies, policies, and systems are inadequate if not supported by highly gifted and ethical leadership. The Auditor General’s Audit Report suggests that local government struggles the most in the area of ethics. The Principal-Agent Theory argues that appointed officials are more likely to subvert the interests of an organisation. However, this article argues that the primary source of problems in municipalities is a combination of ineptitude and unethical political leadership taking root. This conclusion is based on the empirical comparative cases of eight municipalities in the Free State Province.  The conduct of councillors makes it difficult to attract and retain professionals in municipalities, resulting in notable deficiencies in the delivery of services. Essentially, councillors are the root cause for governance failure in municipalities arising from a number of factors. Findings in this study contribute towards the understanding of the impact of leadership in the failure of municipalities to meet good governance and developmental objectives. Further, they deepen the theoretical understanding of the political-administrative interface.

Interpreting Revelation through African American Cultural Studies

2020 ◽  
pp. 482-498
Author(s):  
Thomas B. Slater
Keyword(s):  
African American ◽  
Cultural Studies ◽  
Identity Construction ◽  
Social History ◽  
Liberation Theology ◽  
Biblical Interpretation ◽  
Resistance Literature ◽  
Political Perspective ◽  
Similarities And Differences ◽  
The Impact

African American scholarship on Revelation makes fruitful use of cultural studies as a discipline. This approach draws on the field of sociology, social history, literature, anthropology, linguistics, and other cultural markers. As a method for biblical interpretation it values both the ancient context and the current cultural contexts of readers, and is open to multiple interpretations. This essay considers the various ways Revelation has functioned in African American congregations, the impact of Liberation theology, womanist and postcolonial perspectives, and the notion that Revelation is subversive or resistance literature. Attention is given to similarities and differences between African American scholars concerning Revelation’s political perspective, its approach to identity construction, and the way in which the book might engage current readers.

scholarly journals Corruption, Campaigning, and Novelty: The 2020 Parliamentary Elections and the Evolving Patterns of Party Politics in Slovakia

2021 ◽  
pp. 088832542110127
Author(s):  
Tim Haughton ◽  
Marek Rybář ◽  
Kevin Deegan-Krause
Keyword(s):  
Central And Eastern Europe ◽  
Good Governance ◽  
Political Competition ◽  
General Trend ◽  
Party Politics ◽  
Ordinary People ◽  
Electoral Rules ◽  
Forward Movement ◽  
Parliamentary Elections ◽  
The Impact

Party politics across Central and Eastern Europe has become less structured. Many of the divides that anchored political competition have waned in recent years, weakening the attachment of voters to the existing palette of parties and making them more likely to be attracted to new and non-traditional electoral vehicles. But for such parties to succeed at the ballot box, they need to be able to frame elections and campaign effectively. Drawing on data from a specially commissioned survey, we find that the success of Ordinary People and Independent Personalities (OĽaNO) led by Igor Matovič in the 2020 parliamentary elections in Slovakia owed much to the crafting of an anti-corruption appeal combined with an effective campaign. Both mobilization and conversion of voters, particularly through television and the leaders’ debates, in the months leading up to election day ensured OĽaNO won a quarter of the vote. OĽaNO stands in stark contrast to other parties whose leaders failed to craft as effective a message, miscalculated the impact of electoral rules and in some cases were unable to distance themselves enough from their past actions. The success of OĽaNO underlines that themes related to anti-corruption and good governance have become central to party politics and political contestation. More broadly, the election and its aftermath continued a general trend of forward movement of voters from old parties to new to newer still, indicating the churn of party politics in Slovakia is likely to continue.

scholarly journals The Impact of the COVID-19 Pandemic on Self-Reported Management of Chronic Conditions

2021 ◽  
Vol 8 ◽  
pp. 237437352110076
Author(s):  
Hyllore Imeri ◽  
Erin Holmes ◽  
Shane Desselle ◽  
Meagen Rosenthal ◽  
Marie Barnard
Keyword(s):  
Locus Of Control ◽  
Chronic Conditions ◽  
Online Survey ◽  
Health Locus Of Control ◽  
Patient Activation ◽  
Survey Study ◽  
Chronic Obstructive ◽  
Cross Sectional ◽  
Obstructive Pulmonary Disease ◽  
The Impact

Chronic conditions (CCs) management during the COVID-19 pandemic and the impact of the pandemic on patient activation (PA) and health locus of control (HLOC) remain unknown. This cross-sectional online survey study examined the role of COVID-19 pandemic-related worry or fear in PA and HLOC among patients with CCs. Individuals with CCs (n = 300) were recruited through MTurk Amazon. The questionnaire included sociodemographic questions, the Patient Activation Measure, and the Multidimensional Health Locus of Control–Form B. Out of the 300 participants, 9.7% were diagnosed with COVID-19, and 7.3% were hospitalized. Patients with cancer, chronic kidney disease, chronic obstructive pulmonary disease, drug abuse/substance abuse, and stroke reported significant difficulties in managing their CCs due to worry or fear because of COVID-19. More than half of the sample (45.7%) reported COVID-19-related worry or fear about managing their CCs, and these patients had lower PA and lower external HLOC compared to patients not affected by COVID-19-related worry or fear. Health professionals should provide more support for patients facing difficulties in managing their CCs during the COVID-19 pandemic.

scholarly journals Light a lamp and look at the stock market

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Radeef Chundakkadan
Keyword(s):  
Stock Market ◽  
Financial Distress ◽  
Investor Sentiment ◽  
Downside Risk ◽  
Bond Yields ◽  
Risky Assets ◽  
Market Participants ◽  
Market Return ◽  
The Impact

AbstractIn this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We find a 9% hike in the market return on the post-event day. The effect is heterogeneous in terms of beta, downside risk, volatility, and financial distress. We also find an increase (decrease) in long-term bond yields (price), which together suggests that market participants demanded risky assets in the post-event day.

scholarly journals Impact of Heuristics on Investment Decisions: The Moderating Role of Locus of Control

2020 ◽  
Vol 5 (1) ◽  
pp. 1-14
Author(s):  
Jeetendra Dangol ◽  
Rashmita Manandhar
Keyword(s):  
Decision Making ◽  
Locus Of Control ◽  
Investment Decision ◽  
Investment Decisions ◽  
Sampling Procedure ◽  
Moderating Effect ◽  
Moderation Effect ◽  
Investment Decision Making ◽  
Overconfidence Bias ◽  
The Impact

This paper aims to assess the impact of heuristics on the investment decision by analysing the effect of four heuristic biases, i.e., representativeness, availability, anchoring and adjustment, and overconfidence bias on rationality of Nepalese investor's investment decision-making and also examines the moderating effect of the internal locus of control in between. The study used 391 respondents based on a convenient sampling procedure, and structured questionnaire survey. The study result indicates that there is a significant relationship between irrationality in investment decision-making and all four heuristic biases. In addition, the study also concludes that locus of control has significant moderating effect in the relationship between investment decisions and three heuristic biases, i.e., availability, representative and anchoring bias. However, the study documents no moderation effect in case of relationship with overconfidence bias.

Self-reports and CEO Locus of Control Research: A Note

1997 ◽  
Vol 18 (6) ◽  
pp. 949-971 ◽  
Author(s):  
Christophe Boone ◽  
Bert de Brabander
Keyword(s):  
Locus Of Control ◽  
Self Reports ◽  
Control Research
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