How age discrimination in employment affects stockholders

We analyze the impact on stock prices, and thus on stockholders, of 84 newspaper announcements regarding corporate age discrimination lawsuits. We find that, on average, initial announcements cause a 2 percent decline in stock price, a $40 million average loss in total stock value for the large firms charged. The stock price decreases are consistent with investor concerns about the firms’ ability to attract and retain good employees given the discrimination charges. Though age discrimination in employment is a pervasive and growing problem, such findings may discourage managers from engaging in discriminatory practices. The authors thank Jane Blank and Malcolm Matthew for helpful comments. This research was supported by a University of Windsor Research Board Grant.     

The Role of Ethnicity in the Emergency Decision-Making Process*

Although sociologists have studied for decades the process whereby citizens make emergency decisions in response to disaster warnings, very little attention has been given to understanding the role of ethnicity in this process. Data derived from fatality and injury counts following disasters, though sparse, documents that minority group citizens tend to suffer disproportionately high negative consequences in connection with the impact of disasters. On the basis of this information, it is inferred that differences exist between the emergency decision-making processes of minority and majority citizens. This paper lays the theoretical groundwork for beginning to revise existing conceptual models of warning response behavior to more adequately address the variation associated with minority group status. This goal is accomplished through pursuing three general tasks: (1) examining the process through which personal emergency decisions are made, (2) delineating social factors which impinge upon the outcomes of this decision-making process, and (3) integrating into an existing model of warning response behavior, additional variables which are related to minority status.     

Social well-being in pregnant women: intended versus unintended pregnancies

The relationship between pregnancy intention (unintended versus intended pregnancy) and social well-being was examined in a sample of 72 pregnant, mostly low-income women attending Women, Infants, and Children programs and prenatal clinics in a midwestern community. Feelings of happiness about giving birth and the extent to which having a baby would fill a void in one's life were also examined. Pregnancy intention was significantly associated with reduced social support. Feelings of happiness about having the baby positively correlated with all domains of social support and negatively correlated with loneliness and family relationship problems. The belief that having a baby could fill a void in a woman's life was strongly correlated with perceived loneliness. Interventions to increase social support and to address areas of stress for women whose pregnancies are unintended are recommended. Future research in larger random samples is needed to better test these associations and to make recommendations for specific practice interventions to increase social well-being.     

Private Passions, the Public Good and Public Service Reform

There has been considerable recent discussion of the impact of public service reforms on the work ethics and motivations of public service workers. In this article we draw upon recent research on the ethical dilemmas facing regeneration workers in order to look more closely at the role of values in the working lives of public service professionals. Focusing on the commitment to social justice, we argue that such values find expression in two interlinked ways, as something workers have and as a process of giving value to different goods. Our research reveals that while both aspects of values are rooted in people's life experiences the second dimension is more contingent and relational. While public service reforms appear to have less impact upon workers’ pregiven values, they can and do have an impact on the way in which these values find expression in attachment to different goods. To understand the effect of such reform processes on workers’ motivations we therefore need a more complex conceptual framework than that provided by either simple public sector ethos/private sector ethos distinctions or by models of economic individualism offered by writers such as Julian Le Grand.     

Obesity and Food Choices Among Faculty and Staff at a Large Urban University

Abstract

Objective: In order to address increasing health care costs associated with obesity, this study sought to determine prevalence of overweight and obesity and examine eating behaviors, food choices, health beliefs, and attitudes of university employees. Participants and Methods: An online survey was distributed to > 3,800 faculty and staff at a large public metropolitan university in Winter 2008. Results: Almost half (48%) of 806 respondents were classified as overweight or obese. Compared to those with normal weights, overweight and obese respondents consumed fewer fruits and vegetables (p < .05), were less confident in making healthful food choices (p < .001), and were more influenced by food choices available in on-campus dining facilities (p < .05). Conclusions: Obesity among university employees warrants attention. Because these employees have less self-efficacy and consume less healthful diets than their normal weight colleagues, universities need to improve on-campus access to healthful foods.     

Arbitrage Pricing Theory as a Restricted Nonlinear Multivariate Regression Model Iterated Nonlinear Seemingly Unrelated Regression Estimates

By replacing the unknown random factors of factor analysis with observed macroeconomic variables, the arbitrage pricing theory (APT) is recast as a multivariate nonlinear regression model with across-equation restrictions. An explicit theoretical justification for the inclusion of an arbitrary, well-diversified market index is given. Using monthly returns on 70 stocks, iterated nonlinear seemingly unrelated regression techniques are employed to obtain joint estimates of asset sensitivities and their associated APT risk “prices.” Without the assumption of normally distributed errors, these estimators are strongly consistent and asymptotically normal. With the additional assumption of normal errors, they are also full-information maximum likelihood estimators. Classical asymptotic nonlinear nested hypothesis tests are supportive of the APT with measured macroeconomic factors.     

On the Sequential Selection Problem*

Kwan and Yuan [13] considered the sequential selection problem in which an employer should arrange the sequence of interviews with job applicants to fill a position. In this note, it is shown that their selection problem would be alternately interpreted as an optimal search problem or, more specifically, a discrete search problem with a stationary target. A more generalized version of the ordering problem is proposed which explicitly considers the time value of money. Also, the optimality of the ordering strategy in the generalized problem is proven by the pair-wise exchange method, which is simpler than the induction hypothesis-based proof. The sequention selection problem is shown to be a special case of the general ordering problem where the discount rate is zero.