Revisiting the stock price impact of quality awards

In an event study, Hendricks and Singhal [Hendricks KB, Singhal VR. Quality awards and the market value of the firm: an empirical investigation. Management Sci 1996;42:415–36.] find evidence that firms that win quality awards are further rewarded with a stock price increase on the day of the award announcement. We revisit Hendricks and Singhal (1996), extend their research and find four reasons why management, owners and analysts should be cautious about expecting an abnormal return when a firm wins a quality award. First, in our sample of Baldrige Award winners, the evidence of a stock price response on the announcement day is only marginally significant. Second, in our sample of State quality award winners, the announcement day relationship between stock returns and winning awards is not significant. Third, in the most recent subperiod, 1992–1997, we find no evidence of positive abnormal returns. Fourth, the marginally significant Baldrige results are actually driven by just four companies. A company-by-company microanalysis reveals that only 50% of the award winners experienced positive abnormal returns. The diminishing stock price response on event day does not necessarily imply a lack of stockholder rewards. Evidence from other studies suggests that the stockholders are rewarded for successful total quality management (TQM) implementation, but the rewards can come long before and after the formal award is presented. From a shareholder value perspective, TQM still matters but the award ceremonies may not.     

Using the integrative model of behavioral prediction to understand college students’ STI testing beliefs,intentions, and behaviors

ABSTRACT

Objectives: To identify salient behavioral determinants related to STI testing among college students by testing a model based on the integrative model of behavioral (IMBP) prediction. Participants: 265 undergraduate students from a large university in the Southeastern US. Methods:Formative and survey research to test an IMBP-based model that explores the relationships between determinants and STI testing intention and behavior. Results: of path analyses supported a model in which attitudinal beliefs predicted intention and intention predicted behavior. Normative beliefs and behavioral control beliefs were not significant in the model; however, select individual normative and control beliefs were significantly correlated with intention and behavior. Conclusions: Attitudinal beliefs are the strongest predictor of STI testing intention and behavior. Future efforts to increase STI testing rates should identify and target salient attitudinal beliefs.     

Perspectives of Culture-Bearers on the Vitality,Viability and Value of Traditional Khmer Music Genres in Contemporary Cambodia

Previous studies have explored the historical and social context for the endangerment and subsequent revitalisation of Cambodian performing arts, but little work has focused on music, or the views of culture-bearers themselves on these issues. By thematically analysing qualitative data from semi-structured interviews conducted in early 2013, this research explores the perspectives and motivations of a group of master-musicians, teachers and performers who are making efforts to sustain and revive their music traditions. Participants emphasised five factors that they believed significantly interplayed with the vitality of traditional Khmer music genres. Four of these were generally perceived to have an overall adverse effect on vitality: ‘outside’ influence; loss of interest and knowledge among younger people; low market demand for performances and teaching; and perpetuation of limiting constructs and belief systems. Only one factor identified was perceived to have a beneficial effect on vitality: the strength of infrastructure for learning and teaching. Somewhat surprisingly, then, opinions about the viability of traditional genres were on aggregate highly optimistic, though with some concern expressed about the impact of government action (and inaction) on this issue. Justifications given for sustaining and revitalising traditional Khmer genres included the role of these traditions in education and ritual, Cambodian national identity and musicians’ livelihoods. The study confirms the perceived value, among one group of culture-bearers, of revitalising Khmer music traditions.     

A big hole with the wind blowing through it: Aboriginal women's experiences of trauma and problem gambling

Although studies have shown a link between social trauma and problem gambling (PG), there is little research involving Aboriginal women in this area, despite Aboriginal women being potentially at higher risk for both social trauma and problem gambling. This article describes the results of a qualitative phenomenology study asking seven Aboriginal women living in Western Canada to describe their experiences of social trauma and gambling problems. Results suggest four main themes, describing: (1) the Aboriginal women's experiences of social trauma (‘the three tigers’); (2) their use of gambling to cope with these experiences (‘a big hole with the wind blowing through it’); (3) their experience of problem gambling (‘I'm somebody today’); and (4) their process of healing from social trauma and gambling problems (‘a letter to John’). Participants described what they felt was a clear link between social trauma and problems with gambling, and how gambling helped to change their mood and block out the past. The results raise the possibility that Aboriginal women with gambling problems may need support to heal from social trauma – including racism and colonization – and that upstream initiatives to reduce the incidence of social traumas may be an important response to problem gambling among Aboriginal women.     

Enhancing Wellbeing in Social Work Students: Building Resilience in the Next Generation

The need for social workers to be resilient is widely emphasised. Although enhancing resilience in social work trainees presents a challenge to educators, they are nonetheless responsible for developing professionals who are able to cope with the emotional demands of the job. This paper argues that building resilience in the future workforce should be a key element of social work education. However, as little is known about the competencies and support structures that underpin resilience or the extent to which resilience protects the wellbeing of trainees, an evidence-based approach is required to inform curriculum development.

Recent research conducted by the authors of this paper has highlighted the protective nature of resilience in social work trainees. Emotional intelligence and associated competencies, such as reflective ability, aspects of empathy and social confidence, were found to be key predictors of this important quality. The important role played by social support from various sources was also emphasised. The present paper summarises this research, and presents interventions based on the findings that have the potential to promote resilience and wellbeing in social work trainees. Also considered are ways in which the curriculum might be further enhanced to provide trainees with an internal ‘tool-box’ of strategies that will help them manage their wellbeing more effectively in their future career.     

Ultraviolet radiation in urban ecosystems with consideration of effects on human health

Excess exposure to ultraviolet radiation (UV) from the sun, particularly the ultraviolet B (UVB), is cited as a cause or contributing factor for deleterious effects on human health, including skin cancers and cataracts. Rates of skin cancer have increased greatly in recent years, and increased UVB caused by reductions in stratospheric ozone may be responsible for some of the increase in rates, though quantified estimates of the effect of the UVB changes on health have low certainty. UVB exposure also affects the function of the immune system, and the potential resulting effects on infectious diseases and immunizations are a concern. Epidemiological considerations suggest that peoples' routine exposure to UV in urban areas can be significant in adverse health effects, particularly for young children. Projected trends of ozone indicate that agreements to limit ozone-depleting substances are slowing the UVB increase, but high levels will continue and apparently impact health to the middle of the current century. Urban trees greatly reduce ultraviolet irradiance in their shade when they obscure both the sun and sky. Where trees or other structures obscure only the sun, leaving much of the sky in view, UVB irradiance will be greater than suggested by the visible shade. Since air pollutants influence the UVB above the canopy, and the overlying atmosphere is usually more polluted in urban than rural areas, additional above-canopy monitoring of UV in urban areas is needed for comparison to existing rural monitoring sites. Such monitoring would facilitate the development of computer models of urban effects on UV, which are needed for epidemiological investigations, public education, and urban planning.     

Quantifying urban forest structure,function, and value: the Chicago Urban Forest Climate Project

This paper is a review of research in Chicago that linked analyses of vegetation structure with forest functions and values. During 1991, the regions trees removed an estimated 5575 metric tons of air pollutants, providing air cleansing worth 9.2 million. Each year they sequester an estimated 315 800 metric tons of carbon. Increasing tree cover 10% or planting about three trees per building lot saves annual heating and cooling costs by an estimated 50 to 90 per dwelling unit because of increased shade, lower summertime air temperatures, and reduced neighborhood wind speeds once the trees mature. The net present value of the services trees provide is estimated as 402 per planted tree. The present value of long-term benefits is more than twice the present value of costs.