The double-edged sword of CEO/chairperson duality in corporatized state-owned firms: evidence from top management turnover in China

This study examines how board leadership structure (CEO duality) affects the corporate governance of corporatized state-owned firms where the state shareholders use these firms to serve both profit and non-profit objectives. We propose that CEO duality will generate a positive (negative) significant impact on the firms’ corporate governance when state owners tend to monitor their CEOs on the basis of profit (non-profit) considerations. We test our hypotheses by examining the relations between CEO duality and CEO turnover in Chinese listed companies that are ultimately controlled by central or local governments. We find that CEO duality is negatively related to turnover in marginal profit-making firms where turnover would be value-enhancing. This suggests that CEO duality is detrimental to these firms’ corporate governance because it entrenches relatively poorly performing CEOs. Duality is also negatively related to turnover in high-profitability firms where turnover would be non-value-enhancing. This suggests that CEO duality might positively contribute to the corporate governance of these firms by reducing the occurrence of non-value enhancing turnover. Overall, our study suggests that CEO duality is a double-edged sword in corporatized state-owned firms.     

Acculturation and Psychological Functioning in Asian Indian Adolescents

The objective of this exploratory study was to understand how Asian Indian immigrant families adjust to U.S. culture by examining factors that influence acculturation preferences or styles and how these styles may be associated with their children's psychological functioning, as measured by self‐esteem and academic performance. 85 U.S.‐born Asian Indian adolescents (45 girls; 40 boys) and one of their immigrant parents completed questionnaires about family demography, self‐identification, acculturation, and religiosity. Adolescents also completed a self‐perception profile. Results showed parents and adolescents had similar styles of acculturation. However, adolescents were more likely to self‐identify as ‘Indian‐American’ than were their parents. For both adolescents and their parents, integrated and assimilated acculturation styles were related to family SES, years of U.S. residence, and religiosity scores. Adolescents who had an integrated acculturation style had higher GPAs and higher scores on the self‐perception profile than did adolescents who were separated or marginalized. The findings lend tentative support for an integrated style of acculturation in promoting positive outcomes for first generation Asian Indian adolescents.     

The Implications of Immigration for the Training of Social Work Professionals in Spain

Correspondence to Sonia Hernández Plaza, Area de Psicologia Social, Departamento de Ciencias Humanas y Sociales, Universidad de Almería, Ctra. Sacramento s/n, Almería, 04120, Spain. Summary Important demographic changes have been taking place in Spainduring the last two decades as a result of immigration. Dueto an ever-increasing multicultural spread, social work professionalsare faced with the new challenge of providing quality servicesto diverse ethnic populations. After briefly describing themain characteristics of immigration in Spain, their implicationsfor the provision of social services and the need to providemulticultural training for social workers are analysed. Theconceptual framework proposed addresses some of the main variablesthat professionals working with these minorities should takeinto account, emphasizing: culture; language; family support;community resources; clients' explanatory model of the problems;provision of services for multiple problems; ethnic discrimination;and assessment instruments. Some key points for multiculturaltraining in this field are discussed, paying special attentionto the need to develop culturally sensitive and bias-free diagnostictools; accreditation and funding of professional programmes;and cross-cultural competence training. The main contents andobjectives of a multicultural training course for social workersare described.     

Stability and Change in the Experience of Partner Violence Among Low‐Income Women*

Objective. In this analysis we identify factors associated with the dynamics of partner violence among low‐income women. Methods. Using two waves of the Welfare, Children and Families Study (1999–2001), we examine the multivariate predictors of ever having experienced abuse, as well as factors associated with the initiation, resumption, and discontinuation of violence between the two interviews. Results. Over half the women who reported violence at Wave 1 reported no violence at Wave 2. These women were older, had experienced less severe violence, and reported less financial strain than women for whom violence continued or began. For 11 percent of the sample, violence began or resumed by the second interview. These women were younger, less educated, had weaker social networks, and were less likely to be Hispanic than those who never experienced violence. Conclusions. Partner abuse appears to be highly dynamic and a fuller understanding of the phenomenon requires a longitudinal focus.     

Macro stress testing and resilience assessment of Indian banking

This study conducts policy-based macro stress testing of the Indian banking sector and also assesses its resilience towards compliance with BASEL norms with the aid of an empirical macro-financial model. It uses scenario analysis and quantitative techniques to capture the impact of macroeconomic stress on the stability of the Indian banks by evaluating financial soundness indicators (credit quality, quantity and quality of capital adequacy). The scenarios are generated through policy-based shocks vis-à-vis other external shocks. The results from the estimation of the model indicate a cointegrating relationship between credit quality and key macroeconomic variables including output growth rate, interest rate, money growth rate and exchange rate. The results of the scenario analysis reveal that the Indian banking sector remains largely sound in terms of total regulatory capital adequacy ratio as per current BASEL II and even BASEL III requirement. The results also show that expansionary monetary policy impacts credit quality and capital adequacy in a positive and significant manner via its effect on the economy’s growth rate.