Effects of soccer on stock markets: The return–volatility relationship

This paper assesses the effects of domestic soccer teams’ performances against foreign rivals on stock market returns as well as on the return–volatility relationship. Data from Chile, Spain, Turkey and the United Kingdom support propositions that soccer teams results in international cups affect stock market returns and the return–volatility relationship. Evidence from Spain and the UK, soccer powerhouses, suggests that losses are associated with lower returns and higher risk aversion but evidence from Chile and Turkey, where soccer is the most important sport but teams are not as successful, reveals that wins are associated with higher returns and lower risk aversion.     

The effect of unconditional preferences on Sen’s paradox

Theory and Decision - Sen’s Liberal paradox describes a conflict between weak Pareto, minimal liberalism, and either transitivity or a best element over a domain of individual preferences....     

The impact of government expenditure on economic growth: How sensitive to the level of development?

Previous studies generally find mixed empirical evidence on the relationship between government spending and economic growth. In this paper, we re-examine the causal relationship between government expenditure and economic growth by conducting the panel Granger causality test recently developed by (Hurlin, 2004) and (Hurlin, 2005) and by utilizing a richer panel data set which includes 182 countries that cover the period from 1950 to 2004. Our empirical results strongly support both Wagner's law and the hypothesis that government spending is helpful to economic growth regardless of how we measure the government size and economic growth. When the countries are disaggregated by income levels and the degree of corruption, our results also confirm the bi-directional causality between government activities and economic growth for the different subsamples of countries, with the exception of the low-income countries. It is suggested that the distinct feature of the low-income countries is likely owing to their inefficient governments and inferior institutions.     

Thinking for themselves? The effect of informant independence on children's endorsement of testimony from a consensus

Testimony agreement across a number of people can be a reassuring sign of a claim's reliability. However, reliability may be undermined if informants do not respond independently. In this case, social consensus may be a result of indiscriminate copying or conformity and does not necessarily reflect shared knowledge or opinion. We examined children's emerging sensitivity to consensus independence by testing whether it affected their judgements in a social learning context. Children ages 5, 6, and 8–9 years (N = 92), and 20 adults for comparison received conflicting testimony about an unfamiliar country from two consensual groups of informants: An independent group who responded privately and a nonindependent group who had access to each other's answers. We found increasing levels of trust in independent consensus with age. Adults and 8–9‐year olds preferred to accept the claims of the independent consensus, whereas 5‐year olds favored the claims of the nonindependent consensus and 6‐year olds were mixed. Although previous work has shown that children trust a consensus over a lone dissenter as young as 2 years, the developmental shift in this study indicates that children's reasoning about the nature of consensus and what makes it reliable continues to develop throughout middle childhood.     

Promoting social Europe? The development of European youth unemployment policies

Since the beginning of the millennium, the institutions of the European Union have intensified their political efforts to combat youth employment. Youth‐specific policy initiatives were launched after the financial and economic crisis of 2008, and the overall subsequent rise of unemployment rates among young people. In this article, we analyse and assess these developments on the basis of an analysis of European policy documents and interviews. Our conclusions are twofold. One, we argue that the Europe 2020 Strategy and its flagship initiatives devoted to youth do not constitute a new policy field or approach, but are rather the outcome of an incrementalist logic of policy development. Two, the European youth strategy is clearly committed to activation, and it pushes policy developments towards a minimalist policy approach of precarious protection. Both developments are explained by the actor constellations and path dependencies of the European policy arena.     

The impact of globalization and financial development on India’s income inequality

This paper empirically examines the combined effects of globalization and financial development on income inequality in a unified framework for an emerging economy. Using annual data for the Indian economy over the period 1980–2014, we show that the perceived benefits of globalization and financial development have not trickled down; rather, has aggravated income inequality. Our results also indicate that while inflation aggravates income inequality, education seems to alleviate the differential effect. Proactive measures in providing access to financial services, creating equitable employment opportunities, and improving the quality of education are required to offset the negative impacts of globalization and financial development on income disparity.     

Does sorry work? The impact of apology laws on medical malpractice

Physicians’ apologies for adverse medical events are acknowledged as a factor in patients’ decisions to litigate. Apology laws which render physicians’ apologies inadmissible in court are written to encourage patient-physician communication and to overcome the physicians’ disinclination to apologize because apologies could invite lawsuits. We present a novel model of apologies and malpractice in order to examine whether state-level apology laws have an impact on malpractice lawsuits and settlements. Using a difference-in-differences estimation, we find that apology laws could expedite the resolution process. We also find that apology laws result in the greatest reduction in average payment size and settlement time in cases involving severe patient outcomes.     

How does family homelessness impact on children's development? A critical review of the literature

Family homelessness is a key social issue across many European countries and is associated with uncertainty, a lack of safety and increased risks for children which can trigger the involvement of child welfare services. Living in homeless accommodation during the early years of a child's life also has the potential to impact on a child in many ways, for example, academically, physically, emotionally and socially. In the current paper, the authors review existing literature regarding the impact of family homelessness on children's development in order to identify key messages for social work practitioners working with children and families experiencing homelessness, for example, in the field of child protection and welfare. Findings reveal that family homelessness impacts on various aspects of a child's world and ultimately on their development, as a result of reduced social networks, inappropriate space to facilitate play, increased school mobility and school-dropout rates and increased levels of behavioural challenges and mental health concerns. These findings are discussed with relevance to social work practice when working with children and families who experience homelessness and how social work professionals can address the developmental needs of children who experience homelessness. Implications regarding future research and the education and training of social workers are also explored.     

The Influence of Languages on International Studies

A scholar with little or even no ability to speak a foreign language is hardly qualified for international studies in this so-called "globalization" era. Translated works may be helpful, but it is absolutely necessary to be good at the relevant foreign language. On the     

The Theory on the Value of Labor

Thevalueoflaborisatheoryofcommodityeconomy.Toestablishthesocialistmarketeconomysystem,Chinaneedstodrawtheoreticalstrengthfromthetheory.Thisessaysetsouttoinvestigatetheformationanddevelopmentofthistheory,andtopresentsomePOintsfordiscussion.KarlMarxcriticallyinheritedthescientificresultsofclassicaleconomicsand,basedonitsgreatdiscoveries,hecomprehensivelydiscussedanddevelopedthetheoryconcerningthevalueoflabor.Marxcanbesaidtohavefinalizedthescientifictheoryonthevalueoflabor.Whatwerethecontributi…     

Impact of finance on growth: Does it vary with development levels or cyclical conditions?

Financial systems are complex and may support economic growth differently at various stages of economic development. This study of 90 countries extends the financial development-economic growth literature by using four proxies of financial development (banking, stock market, bond market and insurance), and considering a country’s level of economic development, on both a full and pre-global crisis sample. As expected financial markets have different effects on growth where the level of economic development vary. Policy makers should find that the insurance sector offers the most benefit for economic growth at all levels of development. Stock markets promote growth for middle income countries. Similarly bond markets promote growth with middle and high income countries. Some bond market and stock market results differed in the pre-crisis sample. Policies which promote trade but limit other areas such as inflation, government consumption and crises, should also support growth.     

Comment on “Why do women interact with their parents more often than men? The demonstration effect vs. the biological effect”

This Comment takes issue with the inference that Taiwanese data refute the applicability of the demonstration effect in intergenerational transfers. The Comment points to proper and discriminating tests of the demonstration effect.     

Facilitating the professional transition of migrants in Australia: does gender matter?

This article explores the provision and effects of a program devised to facilitate the professional transition of skilled migrants from non‐English‐speaking backgrounds (NESB) arriving in Australia on permanent visas. The program (‘Skilled Professional Migrants Program’—SPMP) was delivered by AMES Australia and internally evaluated through a telephone survey of 337 past participants. A report of survey results, primarily gauging short‐term post‐program employment outcomes, presented a very positive picture. In this paper we take a fresh look at the quantitative and qualitative survey data in order to analyse the success of the program from the perspective of gender. The paper focuses on gender differences in professional employment transition post‐program in the context of the structural impact of the gendered labour market. We found a significant difference between NESB men and women in their post‐program labour market incorporation into professional jobs that matched their skills. The gendered structures also influenced the ‘networking effect’ of the professional transition program.     

Discrimination by whom? : Unraveling the effect of experiences of discrimination on depression of multi-ethnic children and adolescents in Korea

ABSTRACT

Using the National Survey of Multicultural Families 2015, we examine the mediation effect of self-esteem and the effects of discrimination from different sources on young people’s depression, and we account for the importance of geographic area. The results indicate that peer discrimination has an adverse effect on depression among multi-ethnic children and adolescents in both urban and rural areas. Further, discrimination from neighbours affects self-esteem and depression among those in rural areas, and discrimination by strangers is strongly associated with depression among urban-residing children and adolescents. Based on such findings, implications for social work practice are provided.