Strategic sustainability and financial performance: exploring abnormal returns

The ongoing empirical debate about whether SRI is associated, if anything, with subpar or surpassing financial performance is characterized by a somewhat indistinct focus and the infeasibility of tapping the full potential of existing models. By indistinct focus, we mean an analysis based on an aggregation of a myriad of SRI factors that potentially affect a firm’s financial performance. The inability of taking full advantage of existing models is reflected by the fact that studies with European data have not been able to comprehensively account for systematic risk tilts. This paper presents a portfolio analysis that overcomes these issues by analyzing a distinct selection of small and innovative firms. We argue that both their strategic implementation of Corporate Social Responsibility and the general growth in socially responsible investments (SRI) lend themselves to an explanation for positive abnormal returns of this portfolio. We account for the idiosyncratic investment style of SRI by introducing a comprehensive pan-European risk-adjusted portfolio analysis based on the Carhart four-factor model. A novel propensity score matching method in conjunction with the estimation of structural models completes the conventional robustness checks in the literature.     

Incidence of Social Accountability in Local Governance: The Case of the Network for Fair,Democratic and Sustainable Cities and Territories in Latin America

VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations - In Latin America, the emergence of a series of civil society initiatives aimed at citizen engagement for social...     

Attachment and adaptive skills in children of international adoption

The attachment pattern of a sample of 168 internationally adopted children was explored in this study using the semi‐structured Friends and Family Interview. The pattern was analysed in relation to the development of adaptive skills as an expression of the children's resilience. The secure attachment pattern rates were slightly lower and the insecure attachment patterns were considerably higher than those of normative samples from the previous studies. The children from Eastern Europe demonstrated a more insecure attachment pattern (odds ratio [OR]= 2.46; confidence interval [CI]= 1.23–3.94), and their scores on the adaptive skills scales were lower than the scores of children from other countries (OR = 2.62; 95% CI = 1.02–6.72). These results help to identify the groups at risk of failing to develop secure attachment patterns and appropriate adaptive skills, and should provide valuable information for designing effective interventions.     

New Generalizations of Cauchy Distribution

The generalized skew-normal distribution introduced by Balakrishnan (2002 Balakrishnan , N. ( 2002 ). Discussion on ‘Skew multivariate models related to hidden truncation and/or selective reporting’ by B. C. Arnold and R. J. Beaver . Test 11 : 37 – 39 .[Web of Science ®] , [Google Scholar]) is used to obtain new generalizations of univariate Cauchy distribution with two parameters, denoted by GC _{m, n} (a, b) with m and n non-negative integer numbers and a, b ∈ R. For cases (m, n) = (1, 2), (m, n) = (2, 1), (m, n) = (0, 3) and (m, n) = (3, 0) explicit forms of the density functions are derived and compared to previous generalizations of Cauchy and skew-Cauchy distributions.     

Double Generalized Spatial Econometric Models

The authors offer a unified method extending traditional spatial dependence with normally distributed error terms to a new class of spatial models based on the biparametric exponential family of distributions. Joint modeling of the mean and variance (or precision) parameters is proposed in this family of distributions, including spatial correlation. The proposed models are applied for analyzing Colombian land concentration, assuming that the variable of interest follows normal, gamma, and beta distributions. In all cases, the models were fitted using Bayesian methodology with the Markov Chain Monte Carlo (MCMC) algorithm for sampling from joint posterior distribution of the model parameters.     

When Race Becomes Even More Complex: Toward Understanding the Landscape of Multiracial Identity and Experiences

The explosion in the number of people coming from a multiracial heritage has generated an increased need for understanding the experiences and consequences associated with coming from a multiracial background. In addition, the emergence of a multiracial identity challenges current thinking about race, forcing scholars to generate new ideas about intergroup relations, racial stigmatization, social identity, social perception, discrimination, and the intersectionality of race with other social categories such as social class. The present issue brings together research and theory in psychology, sociology, education, culture studies, and public policy surrounding multiracial identity and introduces new advances in thinking about race, intergroup relations, and racial identity. In exploring multiracial identity, the issue will reexamine conceptualization of race and racial identification by examining the social experiences of multiracial individuals.     

Wandel von Arbeit — Wandel von Männlichkeiten

Whereas the current public interest in the relation of transformation of paid work and gender is focused a lot on men and masculinities, sociological analysis is mostly focused on women and feminity. Few studies on work and masculinity suggest that with the erosion of industrial working conditions traditional constructions of masculinity are challenged to the core. It is our thesis that three mechanisms are working in stabilizing the relationship between paid work and masculinity: reconfigured standard employment relationship, entrepreneurial self, and hegemonic masculinity. Supposably, the new adjusted social order opens a range between two poles: the adherence to traditional patterns of masculinity on the one hand, which tends do enforce insecurity, and a pattern of hegemonic masculinity on the other side, which is characterized by a proactive and positive attitudes of dealing with present tendencies of uncertainty, seeing change as chance of creating.     

Gambling among Croatian young people: an exploratory study of the relationship between psychopathic traits,risk-taking tendencies and gambling-related problems

The present study investigated the relationship between psychopathic traits, risk-taking tendencies and gambling problem severity and if these associations varied by gender in a community sample of Croatian adolescents (N = 282; 148 males). Results of the regression analyses showed that the Impulsive-Irresponsible behavioural style (YPI-II) and the Grandiose-Manipulative interpersonal style (YPI-GM) were the strongest postdictors of gambling-related problems. Surprisingly, independently of the YPI-II dimension, the Callous-Unemotional traits were negatively associated to gambling-related problems. By, contrast, independently of the psychopathic traits, risk-tendencies were not significant postdictors of gambling problem severity. With respect to gender differences, higher levels of the YPI-II and YPI-GM dimensions were related to more severe gambling-related problems only in males, not in females. Furthermore, while the CU traits exhibited protective features against gambling-related problems in both genders, the effect was stronger for males than for females.