Estimating mean-standard deviation ratios of financial data

This article treats the problem of linking the relation between excess return and risk of financial assets when the returns follow a factor structure. The authors propose three different estimators and their consistencies are established in cases when the number of assets in the cross-section (n) and the number of observations over time (T) are of comparable size. An empirical investigation is conducted on the Stockholm stock exchange market where the mean-standard deviation ratio is calculated for small- mid- and large cap segments, respectively.     

Taxes and Quantity Constraints in a Model of Male Labour Supply in Sweden

The purpose of this study is to estimate a model of male labour supply, when agents may be subject to quantity constraints. As the data contain direct information about hours constraints, this information is used in the estimation. We also quantify the importance of such rationing for the response in the hours of work to changes in wages, income and the tax system. As it turns out, quantity constraints appear only to slightly reduce the sensitivity of the average hours of work to changes in the economic environment.     

Communicating equality through policy documents: On legitimacy,double logic and stable translations

This article discusses gender mainstreaming (GMS) as a strategy to implement gender equality in public work organizations by analysing discourse in terms of the theoretical notions of translation and circulation in organizations to shed light on how gender equality and the mainstreaming strategy are formulated in the documents which govern the Swedish fire and rescue services. More specifically, it looks at how the goals regarding gender equality are circulated and translated. The results show that gender equality as a practice is created in the translation of national goals in terms of the local context and its specific gender equality challenges. Furthermore, the article discusses how vague formulations in the documents are stabilized through circulation between the government and the public agency in question. The results indicate the central role played by maintaining stable translations over time and the presence of a double logic of change in the processes, as well as the importance of legitimizing gender equality initiatives.     

Nonlinear Quantile Regression Estimation of Longitudinal Data

This article examines a weighted version of the quantile regression estimator as defined by Koenker and Bassett (1978 Koenker , R. , Bassett , G. ( 1978 ). Regression quantiles . Econometrica 46 : 33 – 50 .[Crossref], [Web of Science ®] , [Google Scholar]), adjusted to the case of nonlinear longitudinal data. Using a four-parameter logistic growth function and error terms following an AR(1) model, different weights are used and compared in a simulation study. The findings indicate that the nonlinear quantile regression estimator is performing well, especially for the median regression case, that the differences between the weights are small, and that the estimator performs better when the correlation in the AR(1) model increases. A comparison is also made with the corresponding mean regression estimator, which is found to be less robust. Finally, the estimator is applied to a data set with growth patterns of two genotypes of soybean, which gives some insights into how the quantile regressions provide a more complete picture of the data than the mean regression.     

Creating a culture of participation: Early childhood education and care educators in the face of change

This study reports on critical participatory research in an early childhood education and care centre in Finland. The objective was to study which elements are critical in the development and construction of a culture of participation. The data comprise conversations, team meetings and educators' diaries. Data were analysed using thematic analysis. The results indicated that a culture of participation requires four elements: (a) a shared understanding of the image of the child, (b) a shared understanding of professional development, (c) leadership and (d) a shared we-narrative that enables the comprehensive understanding, promotion and maintenance of a culture of participation.     

Household consumption: Influences of aspiration level, social comparison, and money management

The present research posits and tests a model of household consumption of less necessary or luxury goods and services. It is hypothesized that a household's economic situation has a direct effect on this consumption as well as indirect effects mediated by aspiration level, social comparison and money management. Structural equation modeling of questionnaire data from a sample of households in a metropolitan area of Sweden (n=411) was used to test the model. The results reveal that as expected the household's economic situation has a significant direct effect on consumption and indirect effects through aspiration level and social comparison. The results also show that satisfaction with consumption increases with increased consumption and decreases with higher aspiration levels.     

Non-Profit Organizations in Mental Health: Their Roles as seen in Research

Non-profit organizations (NPO) for mental health are becoming significant actors. Here, their roles in welfare society as understood in research are identified and analyzed. Results from recent research publications on the mental health field are synthesized and categorized in order to find out their origin, theoretical orientation, and view on mental health NPO’s in relation to the public welfare systems. Relevant publications are primarily from the US, empirically oriented, and addressing surveys on both individual and organizational level. NPOs were most often seen as consensus-oriented service organizations, while very few (4%) were seen as conflict-oriented advocates (i.e., anti-professional). It is concluded that these NPOs are most often studied as complements or alternatives to existing public welfare services rather than on their own terms, and that research on the topic lacks more complex theoretical attempts.