130 research outputs found
Birds of a Feather: Price Dynamics and Trading Behavior in Composed Markets
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179302.pdf (Publisher’s version ) (Open Access)Radboud University, 13 december 2017Promotor : Weitzel, G.U. Co-promotor : Füllbrunn, S.C
Essays on Decision Making under Ambiguity
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204352.pdf (Publisher’s version ) (Open Access)Radboud University, 26 juni 2019Promotor : Weitzel, G.U. Co-promotor : Qiu, J
Behavioral and neuroscientific essays on decision-making under uncertainty
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158427.pdf (Publisher’s version ) (Open Access)RU Radboud Universiteit, 04 juli 2016Promotores : Weitzel, G.U., Sanfey, A.G. Co-promotores : Vyrastekova, J., Qiu, J.260 p
Political embeddedness and corporate strategies in China
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192034.pdf (Publisher’s version ) (Open Access)This dissertation aims to investigate how political embeddedness influences firms’ strategies such as financial and non-financial reporting and internationalization. I have identified whether and how political embeddedness (i.e., government ownership and political connections, both at the central and the local level) affects corporate reporting strategies, particularly in light of the recent policy changes regarding the financial and non-financial reporting of firms in China. In addition, considering the recent government programs that were introduced to facilitate Chinese IFDI and OFDI, I have investigated the effect of political embeddedness on Chinese firms’ internationalization strategies as well. Specifically, Chapters 2-4 examine the influence of political embeddedness on firms’ use of earnings management, CSR reporting, and the propensity to internationalize, respectively.Radboud University, 04 juli 2018Promotor : Weitzel, G.U. Co-promotor : Braam, G.J.M
Outcome Expectancies and the Interaction of Efficacy and Control Beliefs: Life, Work, and Entrepreneurship
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mmubn000001_537451943.pdf (Publisher’s version ) (Closed access)In situations characterized by risk and uncertainty, people frequently base their decisions on beliefs concerning the likelihood of uncertain events. Such events can be as general as success in life or as specific as winning in a lottery, success in one's job or study, or even success with starting a new business. Beliefs and judgments about the likelihood of experiencing one's favored outcomes are referred to as outcome expectancies. They do not only influence individuals' decisions to seek or avoid specific situations, such as quitting school for the sake of starting a business, but also influence people's feelings experienced in situations not offering a choice. These feelings could, for example, be feelings of satisfaction or hope. Even if one cannot change anything and, thus, if no decision is to be made, unfavorable beliefs about a situation, and especially pessimistic beliefs about life in general, can cause stress. This, in turn, can harm an individual's health. Beliefs and judgments, therefore, exert substantial influence over individuals' decisions and, not to the least, their life in general.
To better understand the formation of people's outcome expectancies, this thesis acknowledges that the likelihoods of different outcomes in one's life, at one's work place, or when starting a business are driven by different factors. Following previous research, three generic factors are distinguished: one's own abilities, other people, and chance. The thesis suggests a pattern how beliefs about these factors are associated with outcome expectancies. Beliefs about whether a factor helps or hinders favorable outcomes are referred to as efficacy beliefs. Beliefs about the degree to which these factors can influence one's outcomes are called control beliefs. Generalizing Bandura (1997), control beliefs are assumed to moderate the influence of efficacy beliefs on outcome expectancies. Efficacy and control beliefs therefore mirror the perceived structure and quality of processes driving the outcomes. Or, from a different perspective, the beliefs describe the different sources of risk associated with an outcome.
Across three different contexts, life in general, work-related aspects of life, and entrepreneurship, propositions are tested and found to be supported by empirical data. Outcome expectancies generalized across one's life are positively associated with generalized efficacy beliefs. This association is found to be moderated by control beliefs. Similarly, for job satisfaction, and for its potential consequences emotional exhaustion and intentions to quit, data show that the association with self-efficacy and perceived instrumental social support (other-efficacy) is moderated by control beliefs. Consistent with Burger (1989), in both studies, life in general and work-related attitudes, a more internal than external locus of control can be associated with less optimistic outcome expectancies. Further, in two different datasets the relationship between entrepreneurial intentions and self-efficacy is moderated by control beliefs. The consistency of findings across different contexts suggests that the moderation effect represents a fundamental principle that applies in a wide variety of contexts. Moreover, the simplicity of the basic idea opens the path for a larger set of research questions, which may well reach beyond the concept of outcome expectancies.Radboud Universiteit Nijmegen, 06 december 2010Promotor : Weitzel, G.U.220 p
The internationalization of Chinese companies: firm characteristics, industry effects and corporate governance
No full textA prominent issue in the internationalization of Chinese firms is that many are state-owned enterprises (SOEs) and that corporate governance in China is highly idiosyncratic. This paper identifies firm characteristics, industry effects and corporate governance mechanisms that foster internationalization. We find that Chinese cross-border mergers create shareholder value, but not more than domestic expansions. Corporate governance mechanisms matter, jointly and individually. While state-ownership predicts fewer cross-border mergers, a favourable board structure and corporate transparency explains higher M&A returns. As in more mature markets, firm- and industry-specific determinants also affect M&As in China
Endogenous mergers: Bidder momentum and market reaction
No full textRecent empirical studies on stock misvaluation as a possible determinant of mergers are inconclusive concerning the central hypothesis that over (under) valuation is negatively (positively) associated with merger announcement returns in stock mergers, but not in cash mergers. We provide empirical support for this hypothesis. In contrast to prior research, we employ a two-stage model to account for endogenous mergers and suggest an alternative specification of misvaluation based on an asset-pricing model (bidder momentum). In the first stage, we specify panel logit models to predict US mergers from 1981 to 2003 and find that bidder momentum triggers stock mergers, but not cash mergers. In the second stage, we regress cumulated abnormal returns on merger probabilities to control for the endogeneity of mergers. This reveals a lower market response for stock mergers compared to cash mergers, which we identify as market correction of misvalued acquirer
The development of the rotary hydraulic pressure machine
No full textThere currently exists a demand for economical hydro-electric machinery that operates at low heads and moderate flows; sites where the drop from a higher water level to a lower one is quite small, in the order of 1-3m, with flows between 5m3/s and 15m3/s. The economics which determine a machine’s viability are a function of its size and complexity, its efficiency characteristics and its power output. The author believes that the most promising route lies with the Rotary Hydraulic Pressure Machine (RHPM), a concept developed from the Staudruckmaschine (SDM) by Brinnich (2001). This paper analyses the SDM in detail using scale model tests. These tests found that the SDM had many deficiencies resulting in unnecessarily low efficiencies and flow capacity, which is the volume of water which the wheel can process per second per metre width. The scale tests also aided the development of a new detailed theory of operation for wheels operated by hydraulic pressure. Significant modifications are then proposed for the SDM to address its deficiencies. These revise its channel design, blade shape, and support structure. The result is effectively a new machine, the RHPM, which is expected to have a 20% higher efficiency, greater flow capacity and smoother operation than the SDM. The RHPM can be built at any site; however it is especially suitable for incorporation into existing weir structures with minimal modifications being required to the weir structure itself. Furthermore, the RHPM is unlike most conventional rotodynamic machines as it is symmetrical and therefore fully reversible. This property means it also has potential application in tidal flow environments
Landesausstellung entwickelt sich immer mehr zur reinen Industriemesse
No full textItem does not contain fulltext08 oktober 198
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