Wealth Accumulation across the Adult Life Course: Stability and Change in Sociodemographic Covariate Structures of Net Worth Data in the Survey of Income and Program Participation, 1984–1991

This paper reports microlevel Tobit regression analyses of sociodemographic covariates of the life course accumulation of total household net worth data in eight waves of five distinct panels—spanning over 6 years from late 1984 through early 1991—of the Survey of Income and Program Participation (SIPP). It is found that the quadratic age–wealth relationship predicted by Modigliani's Life Cycle Hypothesis is evident in aggregate age–median wealth profiles as well as in the micro data for households with positive net worth. However, when adult status attainment variables are entered into the regression models either by themselves or in combination with marital/family status variables, the age of household head at which net worth begins to decline is far beyond the typical retirement age. In addition, the traditional criterion variables of sociological status attainment theory—educational attainment, occupational status, and earnings—are found to be positively associated with household net worth, although the net effect of occupational status generally is not statistically significant and the earnings effect is nonlinear. Further, consistent with status attainment theory, householder minority status (black, Hispanic) is negatively associated with the accumulation of net worth. It is found that both single male and single female householder status are negatively associated with the accumulation of household net worth (relative to married couple households) as is the size of the household (measured by the number of children under age 18 present). Separate logistic regression analyses show that households with zero and negative net worth are more likely than households with positive net worth to be black and have low earnings. Higher levels of educational and occupational status attainment reduce the probability of zero net worth but not the probability of negative net worth. Male- and female-headed households and households headed by Hispanics also are more likely to have zero net worth, but not negative net worth. The estimated sociodemographic covariate structures of household net worth are found to exhibit substantial stability across both waves and panels in the SIPP—although effects of the 1990–1991 recession are detectable in estimates for the 1990 panel. Possible applications of the estimated models in demographic projections of household net worth are suggested.     

Work/Family Policies,The Changing Role of Fathers and The Presumption of Shared Responsibility for Parenting

Recent approaches to work/family policies which emphasise options for women have the potential to reinforce gender divisions of labour and to increase conflicts between paid work and family. It is argued here that more account needs to be taken of the interaction between male and female commitments to work and family, and of the possible increased involvement by men in family life. The movement away from the traditional role as the autocratic head of the household towards a more nurturant and available father role, while still small, appears to be gathering momentum. This is reflected in recent research findings, in newspaper articles and other media reports, and in proposals for changes in employment policies (e.g., the ACTU “family leave” test case). While research and everyday accounts provide some hope for future changes in gender divisions of labour, more caution needs to be taken in interpreting research findings and in making statements about the extent to which change has already occurred. A radical new direction in approaches to policy development is needed if the existing status quo of father as the major breadwinner and more distant family member, and mother as the housewife, nurturer and supplementary income earner, is to be altered. Suggestions are made for the development of policies that would both respond to the needs of fathers who are primary caregivers, and help promote a greater sharing of parenting responsibilities by fathers. The basis of these proposals is an argument for the adoption of a presumption of shared parenting to parallel the current presumption of gender equality in the paid workforce.     

Transformational Leadership Education and Agency Perspectives in Business School Pedagogy: A Marriage of Inconvenience?

We critique transformational leadership education in university business schools based on a literature review, a study of the websites of 21 leading business schools, and an analysis of two presentations to business school students at Massachusetts Institute of Technology and Stanford University by the former CEO of General Electric, Jack Welch. Our critique draws attention to the unresolved tension between two motivating ideas that underpin much teaching in business schools: collective interest ideas that permeate transformational leadership education; and self-interest ideas derived from agency theory. Transformational leadership tends to be depicted as a process by which leaders exert a 'top-down' influence over the activities of others, while simultaneously asserting that their organizations have a common purpose and pursue a collective interest. We highlight the risk that business schools are producing graduates who will attempt to appeal to common needs (guided by precepts of transformational leadership) but who will simultaneously enact contradictory performance management systems (guided by agency theory). We encourage business school educators in leadership to adopt approaches which are more critical, relational and reflexive. We suggest some general directions for an alternative leadership prospectus, based on followership, the promotion of critical upward communication within organizations, and the recognition of leadership as a contested, discursive and co-constructed phenomenon.     

A value of information framework for assessing the trade-offs associated with uncertainty,duration, and cost of chemical toxicity testing

A number of investigators have explored the use of value of information (VOI) analysis to evaluate alternative information collection procedures in diverse decision-making contexts. This paper presents an analytic framework for determining the value of toxicity information used in risk-based decision making. The framework is specifically designed to explore the trade-offs between cost, timeliness, and uncertainty reduction associated with different toxicity-testing methodologies. The use of the proposed framework is demonstrated by two illustrative applications which, although based on simplified assumptions, show the insights that can be obtained through the use of VOI analysis. Specifically, these results suggest that timeliness of information collection has a significant impact on estimates of the VOI of chemical toxicity tests, even in the presence of smaller reductions in uncertainty. The framework introduces the concept of the expected value of delayed sample information, as an extension to the usual expected value of sample information, to accommodate the reductions in value resulting from delayed decision making. Our analysis also suggests that lower cost and higher throughput testing also may be beneficial in terms of public health benefits by increasing the number of substances that can be evaluated within a given budget. When the relative value is expressed in terms of return-on-investment per testing strategy, the differences can be substantial.     

Sexual minority youth in romantic relationships: Associations with youth well-being

This study investigated differences in depressive symptoms, loneliness, and self-esteem for monosexual (lesbian, gay) and plurisexual (bisexual, pansexual, queer) sexual minority youth (SMY) by relationship status (single, partnered) and relationship configuration (same-gender partner, different-gender partner). Participants included 338 SMY (M_age = 19.10 years) who reported on their relationship status, partner's gender identity, well-being, and ability to confide in partner about LGBTQ issues. Results indicated that for plurisexual youth, single status was associated with greater loneliness; plurisexual youth with same-gender partners reported fewer depressive symptoms and marginally greater ability to confide in their partner about LGBTQ issues than those with different-gender partners. Findings reveal similarities across SMY while also highlighting some unique challenges among plurisexual youth with different-gender partners.