Quantifying the Value of Collecting: Implications for Financial Advisers

This paper documents the extent to which collectors—specifically, those owning collectible classic US postage stamps—experience an opportunity cost associated with expenditures on their collection. Results show, based on stamp price, S&P 500, bond, and T-bill rate data over the period 1969 through 2013, that collectible stamps tend to underperform stocks and bonds on a risk-adjusted basis. Using estimates based on the Modigliani measure (M²), it was determined that collectors incur an opportunity cost when selecting collectible stamps over more traditional investments. However, it is known that collecting as a hobby provides sociological and psychological benefits. This paper adds to the literature by illustrating how collecting also provides psychic return benefits that can be valued similarly to investment returns. In this study, the foregone return rate of stamp collecting for those who allocate a significant percent of available resources to their collection equates to between 3 and 13 % on an annual basis.     

A Randomized Controlled Trial of a Financial Literacy Curriculum for Survivors of Intimate Partner Violence

Financial literacy programs are quickly gaining in popularity around the globe. A relatively new target group is survivors of intimate partner violence (IPV), an economically vulnerable group for whom resource acquisition is related to personal safety and well-being. This study is a randomized controlled trial of a financial literacy curriculum designed for and delivered to a sample of 300 IPV survivors from 14 agencies in seven US states and Puerto Rico. Findings, based on difference-in-difference analyses and OLS regression models, indicate a strong effect of the curriculum on self-reported financial knowledge and behaviors and support the expansion of similar programs for survivors.     

Effects of parental absence on child labor and school attendance in the Philippines

This paper uses longitudinal data from the Philippines to analyze determinants of children’s time allocation. The estimation method takes into account both the simultaneity of time use decisions, by allowing for correlation of residuals across time uses, and unobservable family heterogeneity, through the inclusion of household fixed effects. Importantly, this improved estimation method leads to different results than when applying the methods previously used in the literature. Girls suffer significantly from the absence of their mother with a reduction in time spent in school that is equivalent to dropping out completely. This effect is substantially larger when controlling for household unobservables than when not. Boys increase time spent working on market related activities in response to an absent father, although this time appears to come out of leisure rather than school or doing household chores. Land ownership substantially increase the time boys spend on school activities, whereas renting land reduces the time girls spend on school. Finally, there does not appear to be a substantial trade-off between time spent on school and work, either in the market or at home.     

Benefits of an Arts-Based Mindfulness Group Intervention for Vulnerable Children

We discuss qualitative and quantitative research findings from a study exploring the benefits and effectiveness of a 12-week arts-based mindfulness group program for vulnerable children (children who were involved with the child welfare or mental health systems and experienced a variety of challenges). Using post-group individual interviews with children/guardians, and pre and post-intervention self-report data (using the Piers-Harris Children’s Self-Concept Scale and the Resiliency Scales for Children and Adolescents), we hypothesized that children would have improved resilience and self-concept after having completed the program. Interpretive thematic qualitative analysis was conducted using transcribed interview data collected from 47 children (30 girls and 17 boys with a mean age of 10.38 years). The perceived benefits of participating in the group included improved (a) emotion regulation, (b) mood, (c) coping/social skills, (d) confidence and self-esteem, (e) empathy, and (f) ability to pay attention and focus. The quantitative analysis used self-report data from 77 children (43 girls and 34 boys with a mean age of 10.34 years). A repeated measures MANOVA was used to examine changes across the intervention period. Our hypothesis that children would have better scores on self-concept after having completed the program was partially supported and this result reflected the perceived improvements derived from the qualitative analysis. The hypothesis that resilience would improve post-group was not supported. Using these promising results, we discuss how strengths-based and arts-based mindfulness group methods may be effective in engaging vulnerable children in a beneficial helping process.     

Impacts of urban sprawl on species richness of plants,butterflies, gastropods and birds: not only built-up area matters

Urban growth is a major factor of global environmental change and has important impacts on biodiversity, such as changes in species composition and biotic homogenization. Most previous studies have focused on effects of urban area as a general measure of urbanization, and on few or single taxa. Here, we analyzed the impacts of the different components of urban sprawl (i.e., scattered and widespread urban growth) on species richness of a variety of taxonomic groups covering mosses, vascular plants, gastropods, butterflies, and birds at the habitat and landscape scales. Besides urban area, we considered the average age, imperviousness, and dispersion degree of urban area, along with human population density, to disentangle the effects of the different components of urban sprawl on biodiversity. The study was carried out in the Swiss Plateau that has undergone substantial urban sprawl in recent decades.Vascular plants and birds showed the strongest responses to urban sprawl, especially at the landscape scale, with non-native and ruderal plants proliferating and common generalist birds increasing at the expense of specialist birds as urban sprawl grew. Overall, urban area had the greatest contribution on such impacts, but additional effects of urban dispersion (i.e., increase of non-native plants) and human population density (i.e., increases of ruderal plants and common generalist birds) were found. Our findings support the hypothesis that negative impacts of urban sprawl on biodiversity can be reduced by compacting urban growth while still avoiding the formation of very densely populated areas.     

Illuminating Clinical Supervision—Past,Present and Future: An Interview with Dr. Lawrence Shulman

In an interview with Dr. Lawrence Shulman, he presents his insights on clinical supervision from a social work and interdisciplinary perspective. Dr. Shulman is a luminary in social work and interdisciplinary supervision, developing the Interactional Model of Supervision. In reflecting on his career in social work research, education, and practice, he shares his thoughts regarding the importance of process-oriented supervision as a needed focus for research and practice. Supportive of integrating art and science in social work practice, he offers his perspectives on the current state of supervision in the evidence-based era.     

Volunteer Reliability in Nonprofit Organizations: A Theoretical Model

The reliability of volunteers is a major concern for many nonprofit organizations. To address this problem in more detail, we develop a theoretical model of volunteer reliability based on psychological contract theory. By taking this perspective as a starting point, we explore how individual volunteer characteristics, organizational factors, and sociological developments shape the exchange of inducements and contributions between volunteers and nonprofit organizations. We discuss how these factors can create tensions in the psychological contract and determine the extent to which volunteers behave reliably. As such, we develop a theoretical framework for addressing the reliability problem in volunteer management.     

Moralische Arbeitsteilung

In modernity, organizations are the most powerful actors. All the more important is the “dark side” of organizational morality. While organizations, on the one hand, ensure or claim to ensure efficiency and reliance they have, on the other, a considerable potential to suppress the moral point of view and to produce or fabricate legitimation. The paper concentrates on this dark side—on problems of the moral division of labor, the organization of hypocrisy, legitimation through procedures, rent-seeking and the related corporate power vis-à-vis law, regulation and politics.