Constructing copula functions with weighted geometric means

The weighted arithmetic mean of two copulas is a copula. In some cases, geometric and harmonic means also provide copulas. There are copulas specially appropriate to be combined by using weighted geometric means. With this method of construction we combine Farlie–Gumbel–Morgentern and Ali–Mikhail–Haq copulas to obtain families of copulas which can be expressed in terms of double power series. The Gumbel–Barnett copula is also considered and a new copula is proposed, which arises as the first order approximation of the weighted geometric mean of two copulas. Invariance of two multivariate distributions (Cuadras–Augé and Johnson–Kotz) by weighted geometric and arithmetic means is also studied.     

Demanding work schedules and mental health in nursing assistants working in nursing homes

Nursing home assistants have physically and emotionally challenging jobs, and they often work demanding schedules in order to provide 24-h care. While the physical effects of demanding work schedules have been studied, little is known about the impact on mental health. This study explored the relationship between demanding scheduling variables and mental health indicators of depression, anxiety and somatization. A cross-section of 473 US female nursing assistants working in nursing homes was surveyed. Work schedule characteristics included shiftwork, hours per day and week, days per week, number of weekends per month, number of double shifts per month, breaks, and number of jobs worked. Working two or more double-shifts per month was associated with increased risk for all mental health indicators, and working 6-7 days per week was associated with depression and somatization. There was a trend for increasing odds of adverse mental health with increased numbers of demanding work schedule factors. The odds of depression was increased four-fold when working 50+ h/week, more than two weekends/month and more than two double shifts/month. Providing work schedules that are less unhealthy may have implications for both worker retention and the quality of care delivered to nursing home residents.     

The Well-Being of 12 - to 16-Year-Old Adolescents and their Parents: Results from 1999 to 2003 Spanish Samples

This study adopts satisfaction with life as a whole and satisfaction with specific life domains as indicators to analyse the relationships between the well-being of 12 to 16-year-old adolescents and some related constructs such as self-esteem, perceived control and perceived social support. Well-being indicators from a 2003 Spanish sample using an 11-point scale (N = 1,634) are compared with an equivalent 1999 Spanish sample using a 5-point scale (N = 1,618). The different results obtained from the 2003 sample with a Principal Component Analysis (PCA) using a shorter and a longer list of life domains are also discussed. A sub-sample of the adolescents’ results from the 2003 sample are compared with their parents’ answers, using the same well-being indicators. Using a list of 8 life domains, and despite the change of scale used, overall results show no relevant changes in adolescents’ satisfaction with life domains between 1999 and 2003 in Spain and are in agreement with normative data expected from western societies [Cummins: 1998, Social Indicators Research 43, pp. 307–334; Cummins et al.: 2001, Australian Unity Well-being Index (Australian Centre on Quality of Life, Deakin University, Melbourne)]. Adolescents’ overall life satisfaction has been shown to correlate consistently with the other well-being related constructs. However, it clearly decreases with age over the period studied. The results also show that increasing the list of life domains has a major impact on the structure of the results obtained. When we compare results from parents with those from their own child, outstanding differences in well-being appear between generations: few domain satisfaction dimensions show significant correlation between parents and children and more than 20% of the population studied shows high discrepancies in the answers in four domains.     

Total Board Compensation,Governance and Performance of Spanish Listed Companies

In this paper we present empirical evidence on the relationship between board remuneration of a sample of large Spanish companies and a set of explanatory variables such as performance and size of the company. The objective is to provide additional empirical evidence based on the agency theory for the Spanish institutional context, which differs from most ‘Anglo–Saxon’ model studies. We focus on the impact of a company's governance structure on the relationship between pay and performance. Specifically, we consider ownership concentration and firm leverage as key determinants of the board–shareholders relationship. Our results confirm the positive relationship between board remuneration and company performance, which is stronger for book values than for stock market measures. Industry performance also explains the remuneration and provides useful information for evaluating board behaviour. Company size is also related to board remuneration and affects the pay–performance relationship, although it is not relevant when we use an elasticity approach. Finally, the governance structure of companies is relevant when explaining the power of the compensation–performance relationship, and differences between the impact of ownership concentration and firm leverage on this relationship are found.