An In-Depth Look at Family Cash-Flow Management Practices

Financial management researchers have typically used a checklist of recommended practices to examine the practices of family financial managers. These studies have shown only a minority use the recommended practices but have offered no insight into what is done. Using in-depth, semi-structured interviews of seven different families, it can be suggested that managers do develop an orderly cash-flow management process. The process is systematic, formalized, done in a regular manner and on a regular basis but not that recommended. The process adopted achieves the manager's objectives of paying the family's bills on time and avoiding overdrafts. The findings suggest that educators focus on developing easy, convenient short-term practices and tools that also would improve the family's long-term financial position.     

Estimating reference ranges from stratified two-stage samples

We present methodology for estimating age-specific reference ranges by using data from two-stage samples. On the basis of the information obtained in the first stage, the initial sample is stratified and random subsamples are drawn from each stratum, where the selection probabilities in this second-stage sampling may be different across strata in the population. The variable for which the reference ranges are to be established is measured at the second phase. The approach involves maximum likelihood estimation of the parameters of the age-specific distributions and separate estimation of the population stratum probabilities. These are combined to yield estimates of the quantiles of interest. The issue of variance estimation for the estimated quantiles is also addressed. The methodology is applied to the estimation of reference ranges for a cognitive test score in a study of non-demented older Japanese-Americans.     

Knowledge Building: Developing Employees Through Education

Is it enough for an organization to develop the total individual? Beyond technical expertise and skills necessary to perform jobs, employees who are encouraged to learn are more willing and able to meet the needs, goals, and objectives of the organization. These employees who are will-rounded transition what they have learned into the workings of the organization and for the sake of the growth and development of the organization. Allowing employees to learn, organizations create a workforce capable of applying all the benefits of learning to the growth of the organization. Whether a corporation develops its own university, creates an alliance with traditional educational institutions or creates a virtual university, it gives the employees the opportunity to learn and develop. As Peter Drucker said in a 1994 interview, the growth industry of the future is the education of adults. The education and the development of executives and the workforce are a new commodity and organizations that support education will be placed at a distinct competitive advantage over organizations that do not. Imagine a workplace filled with employees who have realized self-satisfaction, employees who can of gather information, analyze information and make decisions. Imagine a learning organization consisting of employees with greater understanding of corporate politics, employees who are motivated and employees who are persistent in pursuing goals. Is it worth the expense to increase employees' knowledge through education? Is it worth the expense to develop employees to increase productivity and obtain financial goals for the shareholders and stakeholders? I think any organization not willing to invest in an employees' education is an organization that is `running a fever' and an organization that may have difficulties competing globally in the next millennium.     

Vocal Characteristics of Older Adults and Stereotyping

Two studies extended the study of the nonverbal correlates of age stereotypes. In Study 1, 40 young listeners assessed the age of 30 elderly speakers from three age groups: 60–69, 70–79, 80 and over. As expected, perceived age increased linearly with age group, although greater variability was found in judgments of male than of female speakers. For male speakers, mean vocal volume (intensity) and standard deviations in vocal volume were positively correlated with chronological and perceived age. For female speakers, mean pitch, standard deviations in pitch, and vocal jitter were positively correlated with chronological and perceived age. In Study 2, 40 young listeners selected trait sets corresponding to 3 positive and 3 negative elderly stereotypes to describe 6 young-old and 6 old-old speakers. As predicted, listeners associated the old-old voices of females (but not males) with fewer positive stereotypes than the young-old female voices. In addition, young-old male voices were associated with significantly fewer positive stereotypes than young-old female voices. Finally, male participants chose fewer positive stereotypes for young-old male voices than did female participants. These results provide information on the ways in which vocal characteristics may serve to activate stereotypes in interaction.     

Determinants of Women's Decision-Making Authority in Nigeria: The Ethnic Dimension

Using data from a 1991 survey of five ethnic groups in Nigeria, we look at the determinants of wife's decision-making authority. Our analysis shows that ethnicity plays a very important role in shaping wife's decision-making authority and is even more important than wife's individual-level characteristics as a determinant of authority. The ethnic effect occurs both by shaping the levels of resources that women achieve and by shaping the relationships of wife's achieved characteristics to family decision-making. To the extent that characteristics other than ethnicity make a difference for authority, we find that wife's contributions to household expenditures are important. That factor significantly increases wife's authority, as does wife's formal education, age, and work for pay outside the home. The findings underscore the importance of looking at ethnic social differentiation in the African context and advancing educational and employment opportunities for women.     

The effect of different factors on the level of academic achievement in England and Wales

This paper is a study of the relative importance of four factors-ability, social class, sex, and type of school-on the performance of children in the educational system of England and Wales. It uses a dummy variable linear regression analysis of data collected by the National Survey of Health and Development, tracing the progress of all children born in one week of 1946. The conclusions suggest among other things that reorganisation of educational institutions can have considerable effect on children's performance, irrespective of their class and intelligence; and also that sex plays an increasingly important determining role as pupils progress through the system.     

Comment on Cross, Fine, Jones, and Walsh (2012): Good therapeutic services--therapeutic advocacy and forensic neutrality

Cross, Fine, Jones, and Walsh (2012 ) provided a thoughtful review and critique of a book chapter describing the interview process at Child Advocacy Centers. They observed some of the ways that concerns raised in that chapter are being addressed and described revised guidelines that further clarify issues. Ongoing research and examination of the important processes carried on by child advocacy centers and the role fulfilled by mental health professionals in the investigation of child sexual abuse contributes positively to service delivery.     

Identification of Multivariate Responders/Non-Responders Using Bayesian Growth Curve Latent Class Models

In this paper, we propose a multivariate growth curve mixture model that groups subjects based on multiple symptoms measured repeatedly over time. Our model synthesizes features of two models. First, we follow Roy and Lin (2000) in relating the multiple symptoms at each time point to a single latent variable. Second, we use the growth mixture model of Muthén and Shedden (1999) to group subjects based on distinctive longitudinal profiles of this latent variable. The mean growth curve for the latent variable in each class defines that class's features. For example, a class of "responders" would have a decline in the latent symptom summary variable over time. A Bayesian approach to estimation is employed where the methods of Elliott et al (2005) are extended to simultaneously estimate the posterior distributions of the parameters from the latent variable and growth curve mixture portions of the model. We apply our model to data from a randomized clinical trial evaluating the efficacy of Bacillus Calmette-Guerin (BCG) in treating symptoms of Interstitial Cystitis. In contrast to conventional approaches using a single subjective Global Response Assessment, we use the multivariate symptom data to identify a class of subjects where treatment demonstrates effectiveness. Simulations are used to confirm identifiability results and evaluate the performance of our algorithm. The definitive version of this paper is available at onlinelibrary.wiley.com.