bluuebunny/crossref_metadata_2025 huggingface dataset:
Cost difference of buildings in Kathmandu constructed with and without earthquake safer features
Authors: Subedi Jishnu , Ghimire Ram Mani , Neupane Ram Prasad , Amatya Sweta
Published: November 2016

Purpose

The purpose of this paper is to investigate increase in the cost of reinforced concrete buildings in Kathmandu valley constructed using earthquake safer features in comparison with that of buildings constructed using conventional approach without earthquake safety features.

Design/methodology/approach

Five buildings constructed using earthquake safer features and five buildings constructed without using these features are selected. A cost comparison of both types of buildings is done, and the total cost is also compared for structural, nonstructural and service components in the buildings.

Findings

The cost analysis of buildings constructed in Kathmandu valley shows that there is 10 per cent increase in cost for earthquake safer construction in comparison to construction using conventional approach. This increase in cost can be a deterrent factor for house owners to switch to safer construction practices which ultimately leads to lack of compliance from house owners. A successful implementation of building code in a country like Nepal, where most of the buildings are constructed from informal sector, requires compliance of the code from all stakeholders. Awareness raising can be a deciding factor for success in building code enforcement.

Research limitations/implications

The study is done for only two types of constructions prevalent in Kathmandu: one using simplified codal method and another using conventional method. Only five samples of each types are taken into consideration. The building sample, however, is typical and representative of the two types of the construction practice.

Practical implications

The information from this study will be useful for making policy decisions for enforcement of building codes and also for assessment of economic loss in future earthquakes.

Social implications

This research output will help to redesign building code enforcement projects in Nepal and other countries in the region with similar issues.

Originality/value

The building samples, analysis and output are original contribution of authors, and it contributes to fulfill the gap for such study.
Governance for health in the Anthropocene
Authors: Hancock Trevor , Capon Anthony G. , Dietrich Uta , Patrick Rebecca Anne
Published: November 2016

Purpose

The purpose of this paper is to explore the pressing issues facing health and health systems governance in the Anthropocene – a new geological time period that marks the age of colossal and rapid human impacts on Earth’s systems.

Design/methodology/approach

The viewpoint illustrates the extent of various human induced global ecological changes such as climate change and biodiversity loss and explores the social forces behind the new epoch. It draws together current scientific evidence and expert opinion on the Anthropocene’s health and health system impacts and warns that many these are yet unknown and likely to interact and compound each other.

Findings

Despite this uncertainty, health systems have four essential roles in the Anthropocene from adapting operations and preparing for future challenges to reducing their own contribution to global ecological changes and an advocacy role for social and economic changes for a healthier and more sustainable future.

Practical implications

To live up to this challenge, health services will need to expand from a focus on health governance to one on governance for health with a purpose of achieving equitable and sustainable human development.

Originality/value

As cities and local governments work to create more healthy, just and sustainable communities in the years ahead, health systems need to join with them as partners in that process, both as advocates and supporters and – through their own action within the health sector – as leading proponents and models of good practice.
Transforming First Nations’ health governance in British Columbia
Authors: O’Neil John , Gallagher Joe , Wylie Lloy , Bingham Brittany , Lavoie Josee , Alcock Danielle , Johnson Harmony
Published: November 2016

Purpose

The purpose of this paper is to present a study of the transformation of First Nations’ health governance, describing the development of partnerships between First Nations and provincial and federal governments for co-creating solutions to address First Nations’ health inequities in British Columbia (BC). The paper frames this transformation in the context of a Canada-wide reconciliation initiative stimulated by the Truth and Reconciliation Commission.

Design/methodology/approach

This qualitative case study was a joint initiative between Simon Fraser University and the BC First Nations Health Authority (FNHA), involving interviews with senior leaders within the BC health system, FNHA and First Nations communities. In addition, a policy roundtable was held in February 2015 which gathered 60 participants for further dialogue on the process.

Findings

Key themes included: partnership and relationships, governance and reciprocal accountability, First Nations perspectives on health and wellness, and quality and cultural safety. Findings indicate that significant transformational changes have happened in the relationship between First Nations and the mainstream health system. The creation of the FNHA has led to more representation for First Nations people at all levels of governance and health service planning, which will ultimately lead to more culturally safe health services that incorporate a First Nations perspective of wellness.

Social implications

The transformation of First Nations health governance in BC can serve as an example in other indigenous health settings both within Canada and internationally.

Originality/value

This paper describes a transformative health governance process in First Nations communities that is an historical first in Canada.
Cultivating the emotional intelligence of instructional coaches
Authors: Tschannen-Moran Megan , Carter Carol B.
Published: November 2016

Purpose

The purpose of this paper is to explore whether the emotional intelligence (EI) of instructional coaches could be improved with training, as well as how instructional coaches perceived the relevance of EI to their success as coaches.

Design/methodology/approach

This mixed-method study was conducted in two phases. The quantitative phase examined pre- and post-test EI scores of 90 instructional coaches who completed a 20-hour coach training intervention designed to improve the coaching skills of educators working with teachers to improve their instruction. Of the nine instructional coaches interviewed for the qualitative phase, four had increased their EI scores while five had decreased. The study took place primarily in the USA, with two participants in the survey portion from countries outside the USA.

Findings

Statistically significant increases for EI were found in the full sample. Among the 44 instructional coaches who enrolled on the training course voluntarily, there were significant improvements in total EI, both the interpersonal and interpersonal composites, and all five subscales (i.e. self-awareness, self-regulation, motivation, empathy, and social skills). The mean EI scored for the 46 coaches who were required to take the training did not increase. The themes that emerged from the interviews were increased awareness, improved listening, enhanced empathy, a focus on strengths, and the role of EI in success as instructional coaches.

Research limitations/implications

Future research might examine the duration, intensity, and format of training that successfully increases EI scores. For example, comparing face-to-face formats with distance formats, such as the one used in this study, might yield interesting findings. This study would have been strengthened by the inclusion of a control group that received no training.

Practical implications

Both quantitative and qualitative analyses provided evidence that EI can be improved through training; thus, such training could be incorporated into initial preparation and ongoing professional development for educators. The differential outcomes for those who volunteered for the training as opposed to those who were required to take the training as part of their jobs highlights the important of the adult learning principle of choice. Thus, the element of choice should be taken into consideration in planning professional development.

Originality/value

The use of instructional coaches is an important form of professional development, designed to bring about improved teacher practices. This study provides both quantitative and qualitative evidence of the value of coach training, including statistically significant gains on a validated measure of EI. This study makes an important contribution because prior research on the question of whether EI can be taught has been largely anecdotal.
The relationship between cultural intelligence and i-deals
Authors: Trong Luu Tuan , Rowley Chris
Published: November 2016

Purpose

Cultural intelligence is the capacity to decode and harmonize with another culture for cultural synergy effects. This paper aims to examine whether cultural intelligence can activate idiosyncratic deals (i-deals) through trust as a mediator and HR localization as a moderator.

Design/methodology/approach

Cross-sectional data from respondents from joint ventures or 100 per cent foreign-invested firms in Vietnam business setting, which were tested through the structural equation modeling, provide the evidence for the research model.

Findings

Research results confirmed the positive effect of cultural intelligence on identity-based trust and knowledge-based trust, which in turn influence i-deals. HR localization was also found to play a moderating role on the relationship between identity-based trust or knowledge-based trust and i-deals.

Originality/value

Cultural intelligence literature, from this study, is further deepened through its role as a trigger for the path from cultural intelligence to i-deals.
The effects of organizational and job characteristics on employees’ organizational commitment in arts-and-culture organizations
Authors: Sabella Anton Robert , El-Far Mira Taysir , Eid Niveen Labib
Published: November 2016

Purpose

The purpose of this paper is to investigate the nature of organizational commitment among employees of Palestinian arts-and-culture organizations and to examine the combined effect and role of organizational and job characteristics in shaping employees’ commitment.

Design/methodology/approach

An on-site employee survey was conducted in 20 distinct local not-for-profit arts-and-culture organizations, where the respondent sampling frame constituted of 190 individuals with a response rate of 48 per cent. Confirmatory factor analysis was used in this study to confirm the original scale structure for study constructs and evaluate their distinctiveness in the Palestinian context.

Findings

Results from structural equation modeling analysis revealed a reasonable rather than a good fit of the model to the data. The current study recognized organizational and job characteristics as critical determinants of employees’ commitment, particularly its affective component; which was also found to be the most accurate description of organizational commitment in arts-and-culture organizations.

Research limitations/implications

Consistent with the social exchange theory, an emphasis should be placed on employees’ perception of organizational and job characteristics. This study advocates for combining organizational characteristics with job characteristics in light of their significant association with commitment in the context of motivational theories.

Practical implications

This study empirically demonstrates the positive effects of organizational and job characteristics on employees’ evaluation of their organization. Managers of arts-and-culture organizations should maintain a proper alignment of organizational values with those of the employees and create a working environment that meets employees’ psychological and career needs.

Originality/value

This study makes a valuable contribution to the existing body of research and adds to a very limited number of studies investigating organizational commitment in arts-and-culture organizations, validating the structure of commitment and its antecedents in a non-Western context and showing the multi-dimensionality of the concept.
The Caliphate of numbers
Authors: Hirsch Peter Buell
Published: November 2016

Purpose

The purpose of this paper is to catalogue the various ways in which algorithm-driven decision-making now permeates myriad fields of human activities from insurance through criminal justice to hiring and employment and suggest that this diffusion represents a qualitatively new level of reputation threat for organizations in every industry.

Design/methodology/approach

The author uses an audit of numerous secondary sources to identify common themes and distinctive impacts of the uses of algorithms.

Findings

This research determined that perverse and unintended consequences of the spread of algorithm-driven decision-making were pervasive.

Research Limitations/implications

Based on a review of secondary resources, data on the impact of the algorithms is of necessity primarily anecdotal.

Practical Implications

The research shows that the pervasive inequities produced by algorithm-driven decision-making represents a very significant reputation risk and a potential flashpoint for many different organizations.

Social Implications

If algorithm-driven decision-making indeed entrenches racism and other inequities, it is critical for society that we find an effective way to regulate their use.

Originality/value

While considerable attention has been devoted to individual instances of inequities produced by algorithm-driven decision-making, we believe this is one of the first reviews to look across the spectrum of applications from a reputation risk perspective.
From philanthropy to strategic corporate sustainability: a case study in India
Authors: Jayakumar Tulsi
Published: November 2016

Purpose

This paper aims to explore the drivers and barriers in the transition of the social responsibility agenda of large, emerging economy (EE) firms from non-strategic philanthropy to strategic corporate sustainability. This study also suggests a strategy that such firms may adopt for obtaining the desired corporate social responsibility (CSR) manifestation.

Design/methodology/approach

The paper follows an in-depth case study approach of a large, family-managed Indian firm in a pollutant industry – Sudarshan Chemicals. The article is based on direct observation and in-depth interviews with key stakeholders, namely, senior management, employees and the local community members (villagers) in the company’s plant in Maharashtra.

Findings

The study exposes a lack of alignment between firm size (large) and firm CSR manifestation (small) as the key challenge that EE firms face in transforming their social responsibility agenda. Stuck in the mould of non-strategic corporate philanthropy, even large EE companies are not exposed to the three essential elements of the Western conceptualization of CSR, namely, stakeholder pressure, environmental concerns and integration into core business. Sudarshan’s small-firm CSR orientation can be seen as symptomatic of most Indian companies which are family-led, family-managed businesses.

Practical implications

Faced with strong drivers to incorporate CSR, EE firms can strategize to leap-frog from philanthropy to corporate sustainability through obtaining the desired CSR manifestation.

Originality/value

The significance of this paper lies in the “on the ground”, detailed and empirical study of the drivers and challenges faced by a large Indian company, as it proactively sought to transition from the philanthropy orientation towards strategic CSR/sustainability. The paper identifies the major challenge large, Indian corporates are likely to face going forward, as they respond to drivers in a globalized business environment.
Violence at work in prison establishments: a preliminary study
Authors: Muzavazi Christopher
Published: November 2016

Purpose

The purpose of this paper is to present a preliminary study exploring the perception of prison officers in England and Wales regarding violence in their workplace.

Design/methodology/approach

Data were gathered through questionnaires administered to 152 of Her Majesty’s Prison establishments throughout England and Wales, ranging from high secure to open prisons where officers are affiliated to the Prison Officers Association. In total, 45 officers responded, seven from women’s prisons and the remainder from male adult and youth prisons. In addition, descriptive data from the Ministry of Justice statistical data set on incidents of violence are incorporated where possible.

Findings

Results indicated that violence, both prisoner on staff and prisoner-to-prisoner, is a major concern among prison officers, across all prison categories. The prison officers who took part considered there to be an absence of what they perceived to be serious measures to prevent and manage violence. Officers view the prison disciplinary system as ineffective, with reluctance for external charges to be considered against prisoners committing acts of violence within the prison.

Research limitations/implications

The research is limited by a lack of external measures being obtained (e.g. observation of aggressive incidents) and the fact that the participants were self-selecting, with only a small proportion of respondents. However, it suggests a need for more detailed research into prison violence, one that integrates the views of prison staff as well as prisoners, with the former lacking in the research base to date. It also indicates a need for more focussed action from management, staff representatives and reform lobbies to explore collectively how to prevent violence in prison. Only by adopting a multidisciplinary and multifaceted approach can a comprehensive attempt at management be achieved.

Practical implications

Prison violence has a negative impact on correctional settings and their mission to provide a safe working environment for staff and safe environment for prisoners. Consequently, a focussed management approach on the problem is required, one that captures the view of a range of staff and prisoners. Prisoner’s violent conduct, whether assault on staff or peers, constitutes further criminal conduct. This has to be addressed through formal processes such as prison reports, police charges and potential prosecution. The latter has been under-applied. Determining the barriers to pursuing police charges and possible prosecution would be valuable to pursue. Violence against staff needs to be more thoroughly understood and not considered solely as an occupational hazard, but as a means of safe-guarding both staff and prisoners.

Originality/value

This study is the first that has sought to incorporate prison workforce perception on the problem of escalating levels of prison violence, using a sample from a wide set of prison environments.
How and why does expatriation management influence expatriates’ employability?
Authors: Bücker Joost , Poutsma Erik , Monster Hananja
Published: November 2016

Purpose

The purpose of this paper is to offer a timely assessment of the influence of human resource (HR) processes and policies on expatriates’ employability, using a Dutch international engineering firm as the study setting.

Design/methodology/approach

The qualitative study, based on in-depth interviews with 15 respondents in various roles, such as expatriates, repatriates, HR managers and line managers, is complemented by a document analysis of HR policy reports about expatriation processes.

Findings

Expatriation management influences the internal employability of engineering expatriates, yet most HR policies related to expatriation work are counterproductive in terms of in-company employability of expatriates.

Research limitations/implications

Further research could extend this single case study by differentiating engineering from management functions and addressing employability implications for other assignments and other forms of expatriation. Comparisons are also possible across various stakeholders with regard to social support.

Practical implications

HR management can follow several prescriptions revealed by this study to increase expatriates’ employability within the organization.

Originality/value

This study is among the first to relate expatriation processes to the dimensions of employability.
Perceptions of FASD by United States District Attorneys
Authors: Brown Jerrod , Helmstetter Don , Harr Diane , Singh Jay
Published: November 2016

Purpose

The majority of individuals diagnosed with fetal alcohol spectrum disorder (FASD) will become involved with the criminal justice system during their lifetime. Due to the signs and symptoms of their illness, the psycholegal impairments presented by such alleged offenders pose unique challenges for the attorneys tasked with prosecuting their crimes. That said, little is known about the training and courtroom background of district attorneys with this population. The paper aims to discuss these issues.

Design/methodology/approach

A web-based survey was developed to investigate the knowledge bases and legal experiences of US District Attorneys concerning FASD, and to compare these across sexes, legal experience levels, as well as geographical regions. The survey was distributed electronically to all US District Attorneys following the Dillman Total Design Method. Surveys were completed by 216 respondents (men, n=166; women, n=50; Northeast, n=32; South, n=102; Midwest, n=36; West, n=46) with an average of 25.03 years (SD=10.71) of legal experience.

Findings

Participants displayed variable levels of knowledge concerning the signs and symptoms of FASD and underestimated how often persons with FASD become involved in the criminal justice system. The majority of participants had never received training on the psycholegal impairments of individuals diagnosed with FASD and reported that they would benefit from a Continuing Legal Education course on the subject. Participants also reported that they would benefit from seeing the findings of an FASD screening tool in daily practice.

Originality/value

First survey of legal professionals’ perceptions of FASD.
The crime vs the privilege of self-laundering
Authors: Meriani Marianna
Published: November 2016

Purpose

This paper aims to explain the pros and cons of the crime of self-laundering and of the voluntary discovery rule in light of the recent reform of the Italian criminal law system. More specifically, it focuses on the Italian anti-money laundering legislation as introduced by law no. 186 of 15 December 2014 that has dismissed the privilege of self-laundering.

Design/methodology/approach

To reach such an aim, a comparative approach has been adopted, focusing first on the crime of money laundering as previously described by Article 648 bis of the Italian Criminal Code and on the reasons underlying the adoption of the so-called privilege clause and, subsequently focusing on its discipline in a common law system, the USA. Afterwards, there is the analysis of the above mentioned reform, focusing on the ratio of the new crime of self-laundering to tackle financial crimes and allow capital return from abroad.

Nevertheless, considering how recent the reform is, the absence of case law on the subject has made it difficult to well evaluate its implications.

Findings

The analysis shows how Article 648 bis of the Italian Criminal Code has been the safeguard against self-laundering incriminations.

Originality/value

Therefore, it points out the importance of the reform in light of the concerns stemming from the privilege of self-laundering (for example, propagating the effects of the crime of self-laundering). In addition, it highlights the importance of a strict interpretation of the new crime to assure its compatibility with the criminal law principles of legality and fragmentation.
In the shadow of the dark twin – proving criminality in money laundering cases
Authors: Murray Kenneth
Published: November 2016

Purpose

This paper aims to highlight the persistent influence of the concept of “predicate offence” in respect of how the crime of money laundering is conceived and discussed, and to discuss how this inhibits the ability to prosecute the crime even where, as is the case in the UK, “predicate offence” is not a requirement of the relevant legislation.

Design/methodology/approach

Discussion of a recent UK Supreme Court judgment, R v GH, in particular, how the import of it appears to contrast with perceptions offered by the experience of two recent money laundering convictions on Scotland, where no evidence was led on establishing the money was criminal before the criminal act was libelled as money laundering. Design of modern money laundering schemes are illustrated and assessed in terms of how they can be prosecuted in the context of prevailing interpretations of the law.

Findings

The effectiveness of the UK money laundering offences as set out in the Proceeds of Crime Act of 2002 requires revaluation. Clarification is required in respect of how criminality in such cases can be proved. Consideration should be given to introducing new legislation targeted at the transmission of money or value under the cover of false documentation.

Research limitations/implications

Clarification is required on how the concept of “irresistible inference” as established by R v Anwoir can be applied to money laundering cases in light of the R v GH judgement of the UK Supreme Court.

Practical implications

Upgrade of law enforcement knowledge base and investigation skills is required to prosecute existing money laundering offences more effectively, but the lack of clarity as to what will suffice as proof of criminality serves to inhibit the investigation of these crimes as well as their prosecution.

Social implications

Protection of democracies, democratic institutions and the communities they serve from the corrupting influence of laundered criminal money through more effective prosecution of money laundering offences.

Originality/value

To encourage discussion on whether the relevant legislation remains fit for purpose and what practical measures can be taken to improve it.
Money laundering
Authors: Ebikake Emmanuel
Published: November 2016

Purpose

The purpose of this paper is to provide an assessment of soft law as a technique for repressive and preventive anti-money laundering control (hereinafter AMLC).

Design/methodology/approach

This article focuses heavily on understanding the nature of international anti-money laundering (AML) law-making process. The approach towards this question is interdisciplinary and looks at the treaty and non-treaty AML obligations through a prism of two theoretical lenses (legal positivism and liberal/legal process theory) to explain the role of soft law in the area.

Findings

Current international effort to combat money laundering (ML) is fragmented (as evident in the enormous variety of law-making processes), despite the role of soft law. Part of the problem is the divergent nature of domestic criminal legislation, which is reflected in the choice of predicate crime and a lack of procedural rule to identify and enforce the law at the state level. To address the limit of current efforts, the paper will propose a uniform codification of AML law directed by a more representative body or commission of experts offering means of restating, clarifying and revising the law authoritatively and systematically.

Research limitations/implications

The research is focused mainly on the theoretical issues relating to the subject of ML and less on any empirical case study.

Practical implications

The paper will focus on the role of soft law as a technique for repressive and preventive AMLC. Based on current analyses of the role of soft law as an alternative to hard law or as a complement to hard law (leading to greater cooperation), it attempts to outline the possible advantages and disadvantages that soft law could have in the context of AMLC. For example, the use of soft law promotes harmonisation of international AML standards through the Financial Action Task Force, while the role of the FATF remains unclear in international law. This is important for the purpose of responsibility, as the law on state responsibility clearly states when a State is responsible, in the event of a breach, and the consequence in international law.

Social implications

The implication of the paper is that it contributes to the on-going debate about the increasingly role of soft law-making in international law.

Originality/value

The research perspective to the study of ML is theoretical and focuses on the nature of the law.
Money laundering and civil forfeiture regime: Malaysian experience
Authors: Aurasu Anusha , Rahman Aspalella A.
Published: November 2016

Purpose

Money laundering is a complex issue which has been ongoing for many years globally. Developed and developing countries form anti-money laundering regime in the view to combat these ever-challenging criminal activities. Laundering of money involves the hiding and cleaning of “dirty money” derived from unlawful activities. Malaysia has come up with its own regime of anti-money laundering. Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) provides power to forfeit proceeds at the end of proceedings. This paper aims to investigate whether the current civil forfeiture regime in Malaysia is effective in fighting against money laundering.

Design/methodology/approach

This paper will be based on a doctrinal research where reliance will mainly be on relevant case laws and legislations. AMLATFA is the primary legislation which will be utilised for the purpose of analysis.

Findings

Despite the enactment of AMLATFA, little study has been carried out on the effectiveness of civil forfeiture regime under Malaysian anti-money laundering laws. Furthering into forfeiture of criminal proceeds, the findings show that forfeiture provisions are the recent law enforcement strategy to fight against crimes. It is implicit that this strategy is more efficient than the conventional approach, which only focused on punishing the individual criminal but failed to diminish the criminal operations as a whole.

Originality/value

Strengths and weaknesses of AMLATFA are identified where it is less comprehensive in terms of offences covered and standard of proof. With that, this paper analyses the civil forfeiture regime under the Malaysian anti-money laundering laws. This paper would also offer some guiding principles for academics, banks, their legal advisers, practitioners and policymakers, not only in Malaysia but also elsewhere. Anti-money laundering laws can further be improved by being a better and established civil forfeiture regime where Malaysia will be able to discharge its duties well on forfeiting benefits from criminals.
Preventing money laundering: a test of situational crime prevention theory
Authors: Gilmour Nicholas
Published: November 2016

Purpose

This paper aims to discuss the findings of a UK-based research study that sought to explore the applicability of situational crime prevention towards money laundering undertaken through the purchasing of high-value portable commodities.

Design/methodology/approach

This paper presents exploratory findings from research conducted between 2011 and 2013 in the UK. The research sought to identify the process, steps and vulnerabilities behind money laundering through the purchasing of high-value portable commodities and whether the introduction of situational crime prevention techniques could reduce vulnerabilities in the existing environment.

Findings

Despite significant research into money laundering typologies, the use of high-value portable commodities has remained largely untouched, regardless of the increased implementation of anti-money laundering policies and procedures. This paper demonstrates how the purchasing of high-value portable commodities is extremely vulnerable to money laundering – while identifying how the successful application of situational crime prevention is possible – but inherently it depends on various characteristics directly and indirectly facilitating each stage of the money laundering process.

Research limitations/implications

This paper is of value to government policymakers, regulators and financial institutions considering future preventative measures. It is also of value to financial investigators and law enforcement agencies intent on investigating money laundering. While the paper relies on data from the UK, the overall findings are such that wherever cash-intensive businesses exist, so too does the opportunity for money laundering through the financial arrangement retained by such businesses.

Originality/value

This paper presents new research on the direct link existing between high-value portable commodities and money laundering in the UK and the viability of techniques for situational crime prevention despite significant research having previously taken place to identify and develop money laundering typologies.
Theq-factor and the Fama and French asset pricing models: hedge fund evidence
Authors: Gregoriou Greg , Racicot François-Éric , Théoret Raymond
Published: November 2016

Purpose

The purpose of this paper is to test the new Fama and French (2015) five-factor model relying on a thorough sample of hedge fund strategies drawn from the Barclay’s Global hedge fund database.

Design/methodology/approach

The authors use a stepwise regression to identify the factors of theq-factor model which are relevant for the hedge fund strategy analysis. Doing so, the authors account for the Fung and Hsieh seven factors which prove very useful in the explanation of the hedge fund strategies. The authors introduce interaction terms to depict any interaction of the traditional Fama and French factors with the factors associated with theq-factor model. The authors also examine the dynamic dimensions of the risk-taking behavior of hedge funds using a BEKK procedure and the Kalman filter algorithm.

Findings

The results show that hedge funds seem to prefer stocks of firms with a high investment-to-assets ratio (low conservative minus aggressive (CMA)), on the one hand, and weak firms’ stocks (low robust minus weak (RMW)), on the other hand. This combination is not associated with the conventional properties of growth stocks – i.e., low high minus low (HML) stocks – which are related to firms which invest more (low CMA) and which are more profitable (high RMW). Finally, small minus big (SMB) interacts more with RMW while HML is more correlated with CMA. The conditional correlations between SMB and CMA, on the one hand, and HML and RMW, on the other hand, are less tight and may change sign over time.

Originality/value

To the best of the authors’ knowledge, the authors are the first to cast the new Fama and French five-factor model in a hedge fund setting which account for the Fung and Hsieh option-like trading strategies. This approach allows the authors to better understand hedge fund strategies becauseq-factors are useful to study the dynamic behavior of hedge funds.
The impact of employer-delayed deposits on plan participant wealth
Authors: Jones Jeffrey Scott
Published: November 2016

Purpose

The purpose of this paper is to examine the impact of employer-delayed deposits to defined contribution plans on plan participant wealth. The history of regulatory oversight on the obligations of employers to remit deposits to defined contribution plans on behalf of employees is discussed. In light of these regulations, the paper discusses and examines situations in which employers may legally delay the deposit of employee contributions to a defined contribution plan and how the existence of various calendar anomalies may impact the returns of plan participants.

Design/methodology/approach

Simulated equity portfolios over the period 1985-2014 are created to determine the economic significance of possible delays in plan deposits on the accumulated wealth of plan participants.

Findings

The findings suggest that in situations where employees are paid monthly at the end of the month, it is always to their benefit to have their funds deposited as soon as possible. However, for employees paid weekly at the end of the week, a slight delay (one to three days) in the deposit of funds by the employer may actually be beneficial for the employee, particularly if the employee invests heavily in small and mid-cap stocks.

Originality/value

This is the first paper to explicitly study the impact of an employer’s timing of deposits to a defined contribution plan on the accumulated wealth of plan participants, and is thus the primary contribution of the paper.
Convergence and divergence in corporate governance
Authors: Krenn Mario
Published: November 2016

Purpose

Whether corporate governance systems and practices are converging to the Anglo-American shareholder-value-oriented model or continue to diverge from this model and maintain their idiosyncrasies has been controversially debated among scholars in a variety of academic disciplines. The purpose of this paper is to review, critique and integrate the disparate positions in the convergence-divergence debate in corporate governance and to suggest promising directions for future research.

Design/methodology/approach

The author constructs a theoretical framework in which convergence and divergence dynamics are conceptualized as simultaneous processes of institutional change and continuity. This framework takes into account the influence of economic market forces, social embeddedness and cultural forces in shaping corporate governance at the national and the firm levels and provides a holistic and integrative perspective on the extant literature in the convergence-divergence debate.

Findings

The literature review does not support either the predictions of convergence advocates or the predictions of divergence advocates. Instead, the paper finds that convergence and divergence dynamics can coexist and lead to increasing heterogeneity in corporate governance arrangements of firms within and between corporate governance systems. This finding adds complexity to the debate and opens room for interesting research directions.

Originality/value

The paper offers a comprehensive review of the topic and draws from literature in financial economics, comparative law, economic sociology, international business, political science and strategic management. Most importantly, the paper offers a multi-theoretical framework that allows for an integration of the divergent perspectives presented in the literature.
Corporate governance and corporate performance: financial crisis (2008)
Authors: Kowalewski Oskar
Published: November 2016

Purpose

This paper aims to investigate the impact of corporate governance, as measured by the Corporate Governance Index, on firm performance and dividend payouts during the financial crisis of 2008.

Design/methodology/approach

The empirical approach followed in the study involved constructing a comprehensive measure of corporate governance for 298 non-financial companies listed on the Warsaw Stock Exchange in the years 2006-2010.

Findings

The results show that prior to the crisis, there was a positive association between corporate governance and performance as measured by Tobin’s q. Moreover, the study presents evidence that higher corporate governance leads to an increase in cash dividends. Amid the financial crisis, corporate governance was positively associated with a higher return on assets, yet this was not observed when measured by Tobin’s q. Additionally, during this period, better-governed companies paid dividends less generously than firms with lower corporate governance standards did.

Originality/value

The study provides new evidence on the impact of corporate governance on firm performance and valuation in an emerging market during the financial crisis. Moreover, the study shows that governance mechanisms operate differently in crisis and non-crisis periods.
Correlational selection on personality and social plasticity: morphology and social context determine behavioural effects on mating success
Authors: Montiglio Pierre‐Olivier , Wey Tina W. , Chang Ann T. , Fogarty Sean , Sih Andrew
Published: November 2016

Despite a central line of research aimed at quantifying relationships between mating success and sexually dimorphic traits (e.g., ornaments), individual variation in sexually selected traits often explains only a modest portion of the variation in mating success.

Another line of research suggests that a significant portion of the variation in mating success observed in animal populations could be explained by correlational selection, where the fitness advantage of a given trait depends on other components of an individual's phenotype and/or its environment. We tested the hypothesis that interactions between multiple traits within an individual (phenotype dependence) or between an individual's phenotype and its social environment (context dependence) can select for individual differences in behaviour (i.e., personality) and social plasticity.

To quantify the importance of phenotype‐ and context‐dependent selection on mating success, we repeatedly measured the behaviour, social environment and mating success of about 300 male stream water striders, Aquarius remigis. Rather than explaining individual differences in long‐term mating success, we instead quantified how the combination of a male's phenotype interacted with the immediate social context to explain variation in hour‐by‐hour mating decisions. We suggest that this analysis captures more of the mechanisms leading to differences in mating success.

Males differed consistently in activity, aggressiveness and social plasticity. The mating advantage of these behavioural traits depended on male morphology and varied with the number of rival males in the pool, suggesting mechanisms selecting for consistent differences in behaviour and social plasticity. Accounting for phenotype and context dependence improved the amount of variation in male mating success we explained statistically by 30–274%.

Our analysis of the determinants of male mating success provides important insights into the evolutionary forces that shape phenotypic variation. In particular, our results suggest that sexual selection is likely to favour individual differences in behaviour, social plasticity (i.e., individuals adjusting their behaviour), niche preference (i.e., individuals dispersing to particular social conditions) or social niche construction (i.e., individuals modifying the social environment). The true effect of sexual traits can only be understood in interaction with the individual's phenotype and environment.
Characterization of polymorphic microsatellite markers for a coniferous shrub Juniperus sabina (Cupressaceae)
Authors: Geng Qifang , Qing Hua , Ling Ziran , Jeelani Nasreen , Yang Jie , Yoshikawa Ken , Miki Naoko H. , Wang Zhongsheng , Lian Chunlan
Published: November 2016

Juniperus sabina L. is an evergreen coniferous shrub, with a widespread distribution in Asia and Europe. It is one of the key species for restoration of the ecosystem in desertification areas. In the present study, we isolated and characterized eight microsatellite loci of this species. The number of alleles per locus ranged from two to 27, with observed heterozygosity values ranging from 0.256 to 0.744 and expected heterozygosity from 0.276 to 0.939. The markers developed in this study could be useful for population genetics studies of J. sabina.
What if a tumor is significantly enlarged just before stereotactic body radiation therapy? A case report and review of the literature
Authors: Chen Hung‐Jen , Liang Ji‐An , Chen Chih‐Yi , Yu Yang‐Hao , Chien Chun‐Ru
Published: November 2016

Stereotactic body radiation therapy (SBRT) plays an important role in early stage non‐small cell lung cancer. Tumor growth before radiotherapy planning (RTP) or during SBRT has been reported in lung cancer patients; however, little is known of growth during the period in‐between (i.e. after RTP but before SBRT). An 83‐year‐old man referred to our hospital and diagnosed with medically inoperable non‐small cell lung cancer was noted to have significant tumor progression on day 1 of cone beam computed tomography just before the planned SBRT delivery. Because of uncertainty of the underlying etiology and unfamiliarity with this phenomenon, we made a clinical decision to arrange re‐simulation and revise our treatment to conventional fractionated radiotherapy (CFRT). After an initial response, distant metastases occurred eight months after CFRT. The patient received best supportive care and was under hospice care at the last follow‐up (27 months after CFRT). We report a case with significant tumor growth just before planned SBRT. Optimal management in this scenario requires further investigation.
Impact of alcohol use on EEG dynamics of response inhibition: a cotwin control analysis
Authors: Harper Jeremy , Malone Stephen M. , Iacono William G.
Published: November 2016

Research indicates that alcohol misuse is associated with behavioral disinhibition, but the neurophysiological mechanisms governing this relationship remain largely unknown. Recent work suggests that successful inhibition and cognitive control involve electrophysiological theta‐band dynamics, including medial frontal cortex (MFC) power enhancement and functional connectivity between the MFC and dorsal prefrontal cortex (dPFC) regions, which may be disrupted by alcohol misuse. In addition, research suggests that, compared to men, women are at heightened risk of experiencing the negative physical and neurocognitive correlates of drinking. The present study tested the hypothesis that alcohol misuse has a deleterious effect on theta‐band response inhibition EEG dynamics in a sample of 300 24‐year‐old same‐sex twins. A cotwin control (CTC) design was used to disentangle premorbid risk for alcohol use from the causal effects of alcohol exposure. Drinking was negatively associated with theta‐band MFC power and MFC–dPFC connectivity during response inhibition, and this effect was stronger among women. The CTC analysis suggested that, for women, reduced nogo‐related theta‐band MFC power and MFC–dPFC connectivity were both consistent with the potential deleterious causal effects of alcohol exposure. These findings suggest that diminished theta‐band MFC power and MFC–dPFC connectivity may be neurophysiological mechanisms underlying alcohol‐related disinhibition. Although preliminary, these results suggest that normative levels of alcohol use during emerging adulthood have potential sex‐specific causal effects on response inhibition EEG dynamics, and thus have potentially significant public health implications.