Generalized Method of Moments With Many Weak Moment Conditions

Using many moment conditions can improve efficiency but makes the usual generalized method of moments (GMM) inferences inaccurate. Two‐step GMM is biased. Generalized empirical likelihood (GEL) has smaller bias, but the usual standard errors are too small in instrumental variable settings. In this paper we give a new variance estimator for GEL that addresses this problem. It is consistent under the usual asymptotics and, under many weak moment asymptotics, is larger than usual and is consistent. We also show that the Kleibergen (2005) Lagrange multiplier and conditional likelihood ratio statistics are valid under many weak moments. In addition, we introduce a jackknife GMM estimator, but find that GEL is asymptotically more efficient under many weak moments. In Monte Carlo examples we find that t‐statistics based on the new variance estimator have nearly correct size in a wide range of cases.     

Top Management Team Heterogeneity,Strategic Change and Operational Performance*

This study examines the role of top management team (TMT) heterogeneity in facilitating strategic change. Based on the upper echelons literature, we argue that heterogeneous management teams are better able to handle the simultaneous and conflicting demands of refocusing the organization strategically and keeping up operational performance. We expect this to be true only for teams that are heterogeneous with respect to factors directly related to job requirements, however. Data were collected from 92 full TMTs of hospitals in Spain that were confronted with institutional pressures that challenged their current strategies. In support of our hypotheses, the results show job‐related TMT heterogeneity moderates the relation between strategic change and operational performance. No moderating effect is found for non‐job‐related TMT heterogeneity.     

When Predictions Fail: The Case of Unexpected Pathways Toward High School Dropout

This study examines childhood variables that tend to deflect life-course trajectories away from finishing high school. We examined unexpectedly graduating in the presence of three empirical risk factors (having a mother that did not finish high school, being from a single-parent family in early childhood, and having repeated a grade in primary school) and unexpectedly not graduating in the absence these same factors (low risk). The comparison groups comprised individuals who expectedly did not graduate (first case) and expectedly graduated (second case). We found that having experienced all three factors practically guaranteed not finishing high school, thus defining a crystal clear target group for policy. Without screening, intervention, and follow-up, individuals facing such cumulative risk are most unlikely to graduate. We also found a group of males and females that did not finish high school despite not having these three risk factors. These missed estimates become nontrivial once they are translated into a population-level statistic of lost human capital investments. Specific family and individual factors helped explain the unexpected life course toward not finishing high school, especially for low-risk males and females. Our results suggest policies that support childhood screening for attention-related difficulties and helping parents better understand supervision during adolescence .     

Eldercare and employed caregivers: a public/private responsibility?

The National Alliance for Caregiving (NAC) and the American Association of Retired Persons (AARP, 2004) have reported that 21% of the U.S. population provides family caregiving services to someone over 18 years old. Seventy-nine percent (79%) of these caregivers provide care for someone aged 50 or older. The majority of caregivers work full or part-time, and nearly two-thirds of employed caregivers make work-related adjustments in order to provide care (NAC & AARP, 2004). This article examines eldercare issues of employed caregivers, identifies current public and private policies addressing caregiver needs, presents a process model to assist organizations in creating family-friendly workplaces, and suggests social work roles that support family caregiving.     

Toward an “Awareness” of the Relationship between Task Performance and Own Verbal Accounts of that Performance

The existence of learning without awareness has been debated for many years. Learning without awareness is said to occur when an individual''s behavior has been affected without that individual being aware of the conditions affecting the behavior, of the relationship between those conditions and the behavior, or of the fact that the behavior has changed. This paper describes a series of experiments investigating this phenomenon. The findings support the existence of “learning without awareness.” However, it is argued that the term “awareness” should be discarded as it is misleading. Instead, the results of the experiments are discussed in terms of behavior for which the individual does not provide a complete verbal account.