BANKS,DEBT AND RISK: ASSESSING THE SPILLOVERS OF CORPORATE TAXES

We find evidence of tax-driven strategic allocation of debt and asset risk across group entities of European banks. We evaluate the effects that establishing tax neutrality between debt and equity finance has on systemic risk, and show that the degree of coordination in implementing the hypothetical tax reform matters. In particular, a coordinated elimination of the tax advantage of debt would significantly reduce systemic losses in the event of a severe banking crisis. By contrast, uncoordinated tax reforms are not equally beneficial precisely because national tax policies generate spillovers through cross-border bank activities. (JEL G21, G28, H25)     

When is n large enough? Looking for the right sample size to estimate proportions

The central limit theorem indicates that when the sample size goes to infinite, the sampling distribution of means tends to follow a normal distribution; it is the basis for the most usual confidence interval and sample size formulas. This study analyzes what sample size is large enough to assume that the distribution of the estimator of a proportion follows a Normal distribution. Also, we propose the use of a correction factor in sample size formulas to ensure a confidence level even when the central limit theorem does not apply for these distributions.     

Establishing Safety in Emotionally Focused Couple Therapy: A Single‐Case Process Study

Emotionally Focused Couple Therapy (EFT) is an effective approach to working with distressed couples. It is not only effective in reducing relationship distress, but also in successfully maintaining gains over time. In the current study, we sought to understand the therapy processes that result in the creation of safety during stage one of EFT. Safety is a key ingredient in stage one, setting the stage for deeper interpersonal and intrapsychic work in later stages of treatment. In order to achieve the study aim, we analyzed video recordings of the first six sessions of a single couple case from an EFT randomized controlled trial. Using a theory building case study approach, results reveal that all expected components related to the creation of safety were achieved. Additional findings from our analyses indicate that the therapist was highly active, especially in seizing key moments in the therapy provided by this particular case, which shifted the couple in the direction of safety and deescalated their interactional cycle. Implications of key findings are discussed.     

‘Car Talk’: automobility and Chinese international students in Michigan

The apparent conspicuous consumption of luxury vehicles by Chinese international students attending a public Michigan University provides an opportunity to examine the convergence of different ideas about automobility. Upwardly mobile Chinese families send their children to Michigan, a state with a tradition of auto-production, for educational opportunities not available in China. The resulting ‘car talk’ of local residents about Chinese students and their cars speaks to broader anxieties about Michigan’s shifting relationship to the global economy. However, the paper focuses on the meanings of auto-owning created by Chinese students who make decisions about the purchase and use of their autos within a social world oriented primarily to other Chinese students and societal ideas about auto-owning circulating among friends, family and society in China. For Chinese students, car owning encompasses meanings of status, safety and sociability that are created within the context of study abroad.     

Dual experiences of teenage parenting and homelessness among Native Hawaiian youth: A critical interpretative phenomenological analysis

Teenage parenting is a challenging venture—particularly when parenting while homeless. The present study explores in‐depth through case‐based analysis the lived experiences of three young homeless and parenting teens (one mother and two fathers). It is the first known study of teenage parenting and homelessness among Native Hawaiian youth, a key affected population. Interpretative phenomenological analysis of participants' individual interviews revealed three themes that characterize the experience of parenting as a teen while homeless: (a) They never raised me up (childhood experiences); (b) becoming mommy and daddy (early experiences of teen pregnancy and parenting while homeless); and (c) finding our place (current experiences of teen parenting and perspectives on teen pregnancy and homelessness). Implications for direct practice, social policy, and future research are discussed in the context of this complex reality.     

Over‐indebtedness and microcredit in Cambodia: Moving beyond borrower‐centric frames

Over the past two decades, Cambodia has experienced an unprecedented credit boom, a growth in lending so rapid that the International Monetary Fund (IMF) referred to it as “one of the fastest financial deepening episodes by historical cross‐cultural standards” (IMF, 2016, p. 4). This deepening has been driven by the expansion of microcredit. In tandem, over‐indebtedness has increased among microcredit borrowers, and debt has become a significant political and economic concern. This article explores how over‐indebtedness is understood and explained by stakeholders across microcredit value chains. To do so, we draw on interviews with microfinance institution (MFI) executives, investors, branch managers, partners, financial literacy trainers, loan officers and borrowers in Siem Reap and Phnom Penh. We find that across the sector, dominant framings of over‐indebtedness privilege borrower‐centric explanations, while discounting the structural drivers of excessive lending and borrowing. As a consequence, current efforts to limit over‐indebtedness are unlikely to produce the kinds of solutions that are most needed to reduce the debt stress among borrowers. These arguments have implications across the Global South, particularly for contexts where microfinance is rapidly expanding.     

Missing millions: undercounting urbanization in India

Population and Environment - The measurement and characterization of urbanization crucially depends upon defining what counts as urban. The government of India estimates that only 31% of the...     

Open Dialogue: Frequently Asked Questions

Open Dialogue is an approach to working with people and their families experiencing psychosocial distress. Interest in Open Dialogue in Australia has been growing recently, raising questions about its adaption and implementation to local contexts. This article is an attempt to answer some of the frequently asked questions we have encountered in training and discussions about Open Dialogue. We attempt to provide responses to questions of how Open Dialogue is different to what is done already, how it fits with current approaches, how you know if you are doing it, whether it is passive or just about doing reflections, issues about including the social network, and concerns about the evidence base. This article aims to present a variety of viewpoints in relation to these questions and to hopefully further discussions on how Open Dialogue can be implemented and adapted to Australian health care and social care contexts.     

Performance management practices in lean manufacturing organizations: a systematic review of research evidence

This paper provides the first systematic look into the existing research on performance management (PM) practices employed in lean manufacturing organisations (LMOs). It adopts a systematic review method to examine the evidence generated in the period 2004 – 2015 and uses a comprehensive PM framework to synthesise the findings. The results suggest that PM practices that have the most prominent role in LMOs are those that, firstly, are located closest to front-line actions and, secondly, explicitly address operational realities. This calls into question the primacy of accounting-driven controls in LMOs, suggesting that operational controls may be more effective than top-down accounting-based PM practices. The results also confirm the bias towards operational-level issues but suggest that LMOs may integrate the operational and the strategic levels by using PM practices that drive organisational learning through employee involvement and engagement.