Influence diagnostics in the capital asset pricing model under elliptical distributions

In this paper we consider the Capital Asset Pricing Model under Elliptical (symmetric) Distributions. This class of distributions, which contains the normal distribution, t, contaminated normal and power exponential, among others, offers a more flexible framework for modelling asset prices or returns. In order to analyze the sensibility to possible outliers and/or atypical returns of the maximum likelihood estimators, the local influence method was implemented. The results are illustrated by using a set of shares from companies who trade in the Chilean Stock Market. Our main conclusion is that symmetric distributions having heavier tails than those of the normal distribution, especially the t distribution with small degrees of freedom, show a better fit and allow the reduction of the influence of atypical returns in the maximum likelihood estimators.     

Navigating the Transition to Multi‐Ethnic Urban High Schools: Changing Ethnic Congruence and Adolescents' School‐Related Affect

This short‐term longitudinal study investigated 918 students' school‐related affect across the transition to high school. The study focused specifically on the moderating effect of change in student ethnic congruence from middle to high school. Results indicate that students experiencing more ethnic incongruence from middle to high school, in particular African American and male students, reported declining feelings of school belonging over time. Moreover, students experiencing ethnic incongruence also had increasing worries about their academic success. These results suggest that the changing school demographics from middle school to high school may negatively impact students' school‐related affect, especially if they move to high schools which include fewer students who are ethnically similar to themselves.     

Life satisfaction in midlife childless and empty-nest men and women

The primary purpose of this study was to contrast the life satisfaction of midlife empty-nest and childless individuals. Seventy-two men and women reported on their satisfaction with 11 areas of life as well as with regard to children. Empty-nest individuals were more satisfied than childless persons with regard to their decisions regarding children; however, the childless individuals were not unhappy with their decisions. Empty-nest individuals were also more positive than childless individuals about contact with children. There were no differences between the two groups with regard to areas of life satisfaction not related to children; nor were there significant gender differences in life satisfaction. The results were discussed in relation to both theory and data concerning midlife satisfaction and adjustment.SMS AssociatesThe research was completed by James E. Bell in partial fulfillment of the requirement for the masters of counseling degree at Arizona State University.     

Children of Adolescent Mothers: Cognitive and Behavioral Status at Age Six

The cognitive and behavioral status at age six years of 185 children of adolescent mothers (60.5% boys) were assessed using the mother (CBCL) and teacher (TRF) report forms of the Child Behavior Checklist and the Bracken Basic Concepts Scale. There was evidence for impairment in all areas of functioning. More than half of the sample exceeded the borderline clinical cutoff (T = 60) on either the CBCL or TRF Total Problem score, and nearly half the sample had Bracken scores that were more than 1 SD below the normative mean. Only 26.9% of the children were in the normal range on all three measures. These results are discussed in terms of implications for social work practice with children and adolescent mother families.     

Advancing the Chicago School of Pragmatic Sociology: The Life and Work of Tamotsu Shibutani*

Tamotsu Shibutani is a contemporary proponent of the Chicago School of pragmatic sociology who has devoted his academic efforts to using the Chicago School of pragmatism to analyze problems of contemporary social life and to refine the theoretical tools available to the discipline of sociology. He has evaluated such topics as the Japanese relocation centers, the social construction of rumor, demoralization in Army life, the dynamics of ethnic stratification, and the resolution of ethnic tensions. Shibutani's books on social psychology and general sociology synthesize micro and macro variables, with careful attention to both agency and social control. His work is free of metaphysical puzzles and is true to the scientific method, clearly reflecting the essence of the Chicago School of pragmatic sociology.     

Effects of work and retirement within long-term marital relationships

Long-term marriages of 21 retired working class couples were examined for the post-retirement effects on the marriage's social integration, happiness, involvement and satisfaction. Evidence suggests that marital patterns evolving in response to the work situation result in different types of relationships for dual paycheck and traditional couples. While both groups were happy, satisfied and involved in home, family and their own dyadic relationship, dual paycheck couples had more egalitarian and cooperative relationships. Their increased happiness, satisfaction and involvement are indicative of the benefits of their former dual employment.     

Impact of methods for reducing respondent burden on personal network structural measures

We examine methods for reducing respondent burden in evaluating alter–alter ties on a set of network structural measures. The data consist of two sets, each containing 45 alters from respondent free lists: the first contains 447 personal networks, and the second 554. Respondents evaluated the communication between 990 alter pairs. The methods were (1) dropping alters from the end of the free-list, (2) randomly dropping alters, (3) randomly dropping links, and (4) predicting ties based on transitivity. For some measures network structure is captured with samples of less than 20 alters; other measures are less consistent. Researchers should be aware of the need to sample a minimum number of alters to capture structural variation.     

Long range planning of paper and board supplies

Most standard textbooks identify three essential elements of effective corporate planning: an information input of appropriate depth, critical appraisal of the company's relative position and application of advanced evaluation techniques. Extension of the vision period, for long range or strategic planning, will unavoidably introduce further complexities into these constituent routines of corporate planning as well as into the strategic decision making process. The author reviews the long term outlook for paper and board suppliers and users and points out the strategic advantages of these basic materials.