Are Hearing Voices Networks Compatible with Cognitive Behavioural Therapy for Psychosis?

The most extensively evaluated intervention for auditory hallucinations is Cognitive Behavioural Therapy for Psychosis (CBTp), which is usually delivered in statutory settings by experienced clinicians. In contrast, peer support networks, such as the Hearing Voices Network (HVN), operate informally using peers to normalise and manage voices. This article compares these two approaches to identify points of synergy and difference. Its analysis suggests the two approaches share many features, but also deviate in important ways that could compensate for each other. Instead of competing with each other as might first be thought, they may actually be complementary. Further, HVN may align comfortably with the values and principles of social work. Social workers seeking to engage with voice hearers may be advised to study the underlying principles of each approach to guide the way in which they can capitalise on intervention opportunities to better assist voice hearers.     

The effects of school desegregation on mixed-race births

We find a strong positive raw correlation between black exposure to whites in their school district and the prevalence of later mixed-race (black-white) births, consistent with the literature on residential segregation and endogamy. However, that relationship is significantly attenuated by the addition of a few control variables, suggesting that individuals with higher propensities to have mixed-race births are more likely to live in desegregated school districts. We exploit quasi-random variation from court-ordered school desegregation to estimate causal effects of school desegregation on mixed-race childbearing, finding small to moderate effects that are largely statistically insignificant. Because the upward trend across cohorts in mixed-race childbearing was substantial, separating the effects of desegregation plans from secular cohort trends is difficult; results are sensitive to how we specify the cohort trends and to the inclusion of Chicago/Cook County in the sample. The fact that the addition of a few control variables substantially weakens the cross-sectional relationship between lower levels of school segregation and higher rates of mixed-race childbearing suggests that a substantial portion of the observed correlation is likely due to who chooses to live in places with desegregated schools. Researchers should be cautious about interpreting raw correlations between segregation—whether residential or school—and other outcomes as causal. Our results also point to the need to carefully explore specification of cohort effects in quasi-experimental designs for treatments where cumulative exposure is important.     

Is Chinese National Health Insurance Effective in the Face of Severe Illness? A Perspective from Health Service Utilization and Economic Burden

Over the past decade, health insurance coverage has expanded dramatically in China. Health insurance benefits, however, remain shallow or ambiguous. This study examines the effect of Chinese national health insurance policy on health service utilization and economic burden in urban settings using the Urban Resident Basic Medical Insurance Household Survey. We employ the Heckman selection model to correct for selection bias among hospital inpatients, and find that compared to individuals without health insurance, those with health insurance are more likely to be admitted to the hospital when their physicians recommended them to enter the hospital as inpatients. Health insurance is also associated with about 45.6 % decrease in out-of-pocket inpatient expenditures. Individuals with urban employee basic medical insurance see the largest decrease in economic burden, followed by individuals with urban resident basic medical Insurance, and those with new rural cooperative medical insurance.     

Living Near to Attractive Nature? A Well-Being Indicator for Ranking Dutch,Danish, and German Functional Urban Areas

While nature is widely acknowledged to contribute to people’s well-being, nature based well-being indicators at city-level appear to be underprovided. This study aims at filling this gap by introducing a novel indicator based on the proximity of city-residents to nature that is of high-amenity. High-amenity nature is operationalized by combining unique systematic data on people’s perceptions of what are the locations of attractive natural areas with data on natural land cover. The proposed indicator departs from the usual assumption of equal well-being from any nature, as it approximates the ‘actual’ subjective quality of nature near people’s homes in a spatially explicit way. Such indicator is used to rank 148 ‘cities’ in the Netherlands, Denmark, and Germany. International comparability of the indicator is enhanced by the use of a definition of cities as functional urban areas (FUAs), which are consistently identified across countries. Results demonstrate that the average ‘nearness’ of FUA populations to high amenity nature varies widely across the observed FUAs. A key finding, that complements insights from existing city-level indicators, is that while populations of FUAs with higher population densities may live relatively far from nature in general, they also live, on average, closer to high-amenity nature than inhabitants of lower density FUAs. Our results may stimulate policy-debates on how to combine urban agglomeration with access to natural amenities in order to account for people’s wellbeing.     

Is a loosely specified regulatory intervention effective in disciplining management commentary? The case of performance indicator disclosure

This paper offers a contribution to the call for research on the effectiveness of regulatory interventions governing management commentary disclosure. Specifically, we focus on the mandatory requirement concerning performance indicator disclosure introduced by the Modernisation Directive (2003/51/EC). In keeping with other regulators, the European legislator opted to implement a regulatory approach based on a rule with loose specifications. To understand the effects of this Directive, we have investigated the Italian context, in which neither the national legislator nor the standard setter have supported companies with detailed specifications or guidelines aimed at integrating the European provision. We have compared companies’ disclosure practices before and after the adoption of the Directive, investigating the number of disclosed indicators and also their modalities of presentation, as they are considered essential to guaranteeing the quality of this disclosure. Our results document that a mandatory intervention, even if based on loose specifications, is associated with an increase in disclosure practices. Nevertheless, such regulation does not seem able to guarantee high quality disclosure practices. In fact, before and after the regulation, companies primarily disclose common financial measures. Moreover, the usefulness of such disclosure is undermined by a limited compliance with the international guidelines concerning the modalities of presentation. These results reveal some weaknesses in the European approach to performance indicator regulation. In general, the EU legislator fails to explain the purpose and the objective of performance indicator disclosure and does not take into account the differences between financial and non-financial indicators. Furthermore, it does not provide firms with clear guidelines concerning the presentation modalities.     

The role of the board in shaping foundations’ strategy: an empirical study

This paper investigates the relationships of the choice of philanthropic strategy with board capital (diversity and networks), board activities (board processes, internal board committees, and board effectiveness), and CEO leadership. Using a sample of 110 Italian foundations, the research shows that board processes have the strongest positive association with an evolved strategic approach to philanthropic institutional grant-giving, while board diversity and strong CEO leadership are associated with the strategic approach only under certain conditions. In particular, good governance processes (e.g., training the board, self-evaluation of trustees, setting the stage for effective board and committee meetings, implementing control software, and steering meetings to improve the board’s analysis) are positively associated with evolved strategic approaches to philanthropy (e.g., signaling other funders for the best grantees, improving the performance of grant recipients, and advancing selected social fields’ state of knowledge and practice).     

Information security governance: pending legal responsibilities of non-executive boards

The study shows that a structural conflict of interest in non-executive boards exists due to missing corporate governance structures and a lack of awareness for legal issues with regard to information security risks. Non-executive boards receive information on strategic security threats as a part of their oversight function to fulfill investor interest in transparency. At the same time, they act as representatives of company stakeholders and have an interest to counteract to information security risks based on the stakeholder’s risk disposition. If not properly structured by corporate governance rules, these different interests may lead to regulatory aberrations on non-executive board level. The study analyses a Deutsche Telekom AG case where non-executive board members, employees, and journalists fell victim to a spying scandal subject to the German telecommunications secrecy law in 2005–2006. The analysis demonstrates how the handling of information security on non-executive board level bears governance risks as well as legal risks that are insufficiently addressed in corporate governance research. The paper contributes to avoid a reproduction of events in the future, by suggesting the principle of a segregation of duties on non-executive boards as well as providing an overview of relevant legislative requirements that clarify tasks of non-executive board members with regard to information security. The study therefore helps protecting corporations and their stakeholders from similar consequences of missing corporate security governance.     

Minority and majority private equity investments: firm performance and governance

This paper adds to the literature on the determinants of the effects of private equity (PE) investments. Using an original dataset of 191 target firms in Italy, we study the effects on performance and governance of the stakes acquired by the PE investor. We employ a difference-in-differences approach and compare target and control firms sharing similar characteristics and performance in the years preceding the deal. We find that PE investment has a positive effect on profitability, sales, and employment; these effects are larger for minority investments. We argue that this signals effective governance that follows from complementing rather than substituting incumbent managers in minority investments.     

Dual class shares,board of directors’ effectiveness and firm’s market value: an empirical study

This study aims to identify whether a relationship exists between the controlling shareholders’ voting power and outside directors’ effectiveness in maximizing firms’ financial performance. We analyze a panel data with 3057 observations for the 2000–2012 period using a random effects model, logit and probit regressions, and the two-stage model of Heckman in the Brazilian stock market. Our findings show that firms whose controlling shareholders use dual class shares to leverage their voting power have less independence from the board and worse financial performance and market value. Further, the percentage of outside directors tends to be ineffective in increasing the firm’s value, and in changing the firm’s chief executive officer (CEO) when (1) the controlling shareholder’s voting power is leveraged, or (2) when the CEO assumes a position on the board of directors simultaneously. We interpreted that these results are in line with the arguments in favor of the existence of a new agency cost, which is related to the undue obedience of board members to authority, such as the largest controlling shareholder or the CEO in Brazilian listed firms.     

Influence of Perceived Economic Strain on the Relationship Between Caregiver BMI and Child BMI

As maternal BMI is a risk factor for higher child BMI, this exploratory study investigated perceived economic strain as a protective factor modifying this well-established relationship. Primary low-income female caregivers (n = 432) of preschoolers ages 3–5 years were interviewed using the Family Economic Strain Scale. Caregiver and child heights and weights were measured. Significant differences were found in perceived economic strain between normal versus underweight, overweight, and obese caregivers. A moderating effect approaching significance was noted such that at low levels of reported economic strain, caregiver BMI classification had no effect on child BMI z-score for normal weight, overweight, or obese caregivers. This study is the first to demonstrate that reduced perception of economic strain may act to buffer the impact of maternal overweight/obesity on child weight status. Given this biologically strong relationship, the potential for any modifiable factor to be detected is encouraging. Further collaborative research between economists and family resiliency researchers is suggested.