Restructuring of the Financial Industry: The Disappearance of Locally Owned Traditional Financial Services in Rural America

Restructuring in the financial services industry has altered the relationship between small business owners and capital. In the past small businesses have relied on relational, or soft data, lending from locally owned banks for capital. The proliferation of absentee‐owned local branch networks brought standardized practices, thus eliminating the autonomy of local loan officers to utilize soft data in loan decisions. In this article we examine the changes in the percentage of traditional financial services that are locally owned in three county types: metropolitan, micropolitan, and noncore. We utilize the Longitudinal Business Database at the U.S. Census Bureau Center for Economic Studies. We examine changes in local ownership of traditional financial services between 1976 and 2007. We find that the rate of decline of local ownership has been greatest in the noncore (most rural) counties. We also explore to what extent these patterns are related to the emergence of alternative financial services during the same period. We find that such alternative services are growing in all three county types, but at rates not significantly different than the population growth for these county types. We supplement our analysis with data from qualitative interviews with small business owners throughout rural Texas. We conclude with a discussion of implications and plans for future research.     

A longitudinal comparative study of the impact of the experience of social work education on interpersonal and critical thinking capabilities

Head (the intellectual/critical thinking) and Heart (the emotional-interpersonal) are long established twin-pillars of social work. Their importance is not just reflected in literature devoted to each but in the professional proficiencies and capabilities expected for practice. While clearly intertwined—both operate together in practice—and central to practice proficiencies/capabilities, implying implicit measurement of standards, there is a curious lack of research focusing on measurement of the two together. This novel study is the first to carry out a longitudinal comparative study examining the extent to which interpersonal and critical thinking capabilities are developed during the lifetime of qualifying social work training as measured through programme performance and development. It focuses on four cohorts (n = 170) at two Universities (Undergraduate and Masters). While findings show the interpersonal significantly underpinned performance and outcome, critical thinking—though embedded in Masters programme performance—was less significant, particularly in the undergraduate programmes. The study concludes that we cannot assume interpersonal and critical thinking capabilities are always incorporated into the learning process and attention should be paid to the overt measurement of interpersonal and critical thinking capabilities together with the processes and mechanisms by which they are focused on in programmes.     

Blood Transfusion in Room 223

How educators handle conflicting views of Populism is important in engaging students in critical thinking.     

The recruitment and selection of hospital medical consultants

Abstract

The literature on selection has been dominated in recent decades by the ‘prediction’ paradigm. Such an approach requires a substantial number of positions to be filled in order to compute validity coefficients. There are other approaches, using a different paradigm, when concentrated on adjusting the organization and the employee. Here careful analysis of job demands is essential. This article describes such an analysis, taking the medical consultant as an example. The method can be used in an iterative way. It is useful when one has to work with small numbers of positions.     

拉丁美洲的东亚移民

帝国主义通过扭曲遭受其影响的国家的经济,导致人口迁移与大量移民。19世纪,帝国主义势力渗透到远东的许多国家。在帝国主义与中国的贸易关系中,英国对茶叶的需求量相当大(其次是丝绸),但除了清政府需要的白银外,没有其他可交换的物品。为防止国库的耗尽和平衡贸易条款,英国商人于是寻求扩大中国的鸦片市场。东印度公司首先抢占了这个市场,然后鸦片贸易便被私人企业所垄断。在最大的经销商中,英国的贾丁与马西森公司位列其中(Hanes and Sanello,2002)。中国人的禁烟努力导致了1839—1842年和1856—1860年的两次鸦片战争,中国被迫割让香港给…     

Evaluating the Use of Spatial Covariance Structures in the Analysis of Cardiovascular Imaging Data

This article investigates the choice of working covariance structures in the analysis of spatially correlated observations motivated by cardiac imaging data. Through Monte Carlo simulations, we found that the choice of covariance structure affects the efficiency of the estimator and power of the test. Choosing the popular unstructured working covariance structure results in an over-inflated Type I error possibly due to a sample size not large enough relative to the number of parameters being estimated. With regard to model fit indices, Bayesian Information Criterion outperforms Akaike Information Criterion in choosing the correct covariance structure used to generate data.     

Testing Hypotheses in Nonparametric Models of Production

Data envelopment analysis (DEA) and free disposal hull (FDH) estimators are widely used to estimate efficiency of production. Practitioners use DEA estimators far more frequently than FDH estimators, implicitly assuming that production sets are convex. Moreover, use of the constant returns to scale (CRS) version of the DEA estimator requires an assumption of CRS. Although bootstrap methods have been developed for making inference about the efficiencies of individual units, until now no methods exist for making consistent inference about differences in mean efficiency across groups of producers or for testing hypotheses about model structure such as returns to scale or convexity of the production set. We use central limit theorem results from our previous work to develop additional theoretical results permitting consistent tests of model structure and provide Monte Carlo evidence on the performance of the tests in terms of size and power. In addition, the variable returns to scale version of the DEA estimator is proved to attain the faster convergence rate of the CRS-DEA estimator under CRS. Using a sample of U.S. commercial banks, we test and reject convexity of the production set, calling into question results from numerous banking studies that have imposed convexity assumptions. Supplementary materials for this article are available online.