Pricing and momentum of syndicated credit in Europe

We investigate the determinants of syndicated loan prices for European borrowers, spanning the entire period of credit expansion and crisis. We construct a large data base consisting of 2102 rated syndicated loan deals from 1990 to 2008 in twenty three countries and ten economic sectors. We investigate the effects on the spread paid over the risk free rate of three major groups of factors: loan characteristics, borrower characteristics and characteristics of country of the borrower, using both qualitative and quantitative variables in a hedonic regression. The results show that all three groups are significant joint determinants of prices of syndicated credit. Our results confirm the existing literature but also provide for first time results stemming form the risk characteristics of the borrower and the country of the borrower. It is shown that distance-to-default as well as aggregate risk associated with country of the borrower are of great concern to the lenders and hence significantly affect the pricing of syndicated loans. Furthermore, we report that financial institutions and public utilities are able to negotiate for cheaper loans, but this result is reversed when financing is for acquisition purposes. Overall, risk, liquidity, solvency and sustainable performance by both the borrower and its domicile country are key determinants of syndicated loan prices.     

Engaging substance-affected families in child welfare: parent perspectives of a parenting intervention at program initiation and completion

Families affected by substance abuse are at an increased risk of child welfare involvement and poor child welfare outcomes. One strategy to improve outcomes among these families is evidence-based parenting interventions. While these interventions show the potential for advancing the child welfare field, they have not been widely and rigorously evaluated with birth parents, especially those affected by substance abuse, who face marked vulnerability and marginalization. We sought to draw on parents’ expertise and to understand their first and changing impressions throughout involvement in a parenting intervention, as well as overall impressions at program completion. Semi-structured interviews were conducted with a purposive sample of 10 parents who were involved in child welfare and a family drug treatment court. All parents were affected by parental substance use and had recently completed the Strengthening Families Program. Interviews were transcribed verbatim and analyzed for prominent themes. The study’s findings showed that parents described four key themes that influenced their perspectives of the parenting intervention: program reputation as communicated by peers, relevance and applicability of the program, children’s involvement and enjoyment of the program, and program structure issues that pointed to the need for high-quality group facilitation. Implications for practice and research are discussed.     

Critical social work and competency practice: a proposal to bridge theory and practice in the classroom

Social work education in North America is increasingly focused on competency criteria and micro skills training for future practitioners. Market forces are transforming the nature of social work practice in Canada, and social work regulators are concerned about the lack of evidence-based competencies in social work education. Since the Controlled Act of Psychotherapy was proclaimed in 2017, social work practitioners are in a position to offer psychotherapy services; as a result, universities are under greater pressure to shift to competency-based learning that meets the requirements of a regulated profession. This has raised concerns about the narrowing focus on critical social work theory in preparing students for practice. The divergence between anti-oppressive and direct practice schools is widening with the result that many students have difficulty bridging the gap between critical theory and competency-based practice. This paper attempts to integrate both traditions by offering students a course that directly links critical analysis of structural barriers and client centered interventions. The course is part of a developing critical competency curriculum that focuses on methods of facilitating empowerment and change in the helping process by articulating key relational components between service user and practitioner from a critical-competency perspective.     

Breastfeeding Patterns and Determinants in the Near East: An Analysis for Four Countries

Few detailed studies of the determinants of breastfeeding behaviour have been carried out, especially in the Middle East. We provide a comparative investigation of patterns and determinants of breastfeeding in four Middle East countries (Egypt, Jordan, Tunisia and Yemen) based on WFS data. Differences in factors influencing ever-breastfeeding, continuing breastfeeding from very short to moderate durations, and extending breastfeeding into the second year are observed, indicating ‘structural shifts’ in the determinants of breastfeeding. Differences between countries are also found which can only roughly be associated with differences in modernization and urbanization. Lack of consistently negative effects of women's education and work status variables is attributed to the extremely low levels of both in the region. Interesting results are observed regarding effects of pill use and sex of child (boys being breastfed longer), suggesting the need for thorough studies to explain these findings further.     

Exploring the Meanings of the “Heartfelt” Gesture: A Nonverbal Signal of Heartfelt Emotion and Empathy

Journal of Nonverbal Behavior - We conducted two studies to explore the potential meanings associated with the “heartfelt” gesture, which involves placing one’s hand with a flat...     

Proximity (Mis)perception: Public Awareness of Nuclear,Refinery, and Fracking Sites

Whether on grounds of perceived safety, aesthetics, or overall quality of life, residents may wish to be aware of nearby energy sites such as nuclear reactors, refineries, and fracking wells. Yet people are not always accurate in their impressions of proximity. Indeed, our data show that only 54% of Americans living within 25 miles of a nuclear site say they do, and even fewer fracking-proximal (30%) and refinery-proximal (24%) residents respond accurately. In this article, we analyze factors that could either help people form more accurate perceptions or distort their impressions of proximity. We evaluate these hypotheses using a large national survey sample and corresponding geographic information system (GIS) data. Results show that among those living in close proximity to energy sites, those who perceive greater risk are less likely to report living nearby. Conversely, social contact with employees of these industries increases perceived proximity regardless of actual distance. These relationships are consistent across each site type we examine. Other potential factors—such as local news use—may play a role in proximity perception on a case-by-case basis. Our findings are an important step toward a more generalizable understanding of how the public forms perceptions of proximity to risk sites, showing multiple potential mechanisms of bias.     

Male attitudes toward abortion: An analysis of urban survey data

Utilizing data from Edmonton Area Surveys of 1977, 1984, and 1987, this paper examines the attitudes of Canadian men toward the contentious issue of abortion. Respondents were presented with various different circumstances for abortion and asked to indicate the conditions in which they feel women ought to or ought not to be allowed to obtain a legal abortion. Findings reveal that attitudes toward abortion vary greatly depending upon the criteria for abortion. Endangering the mother's health elicited the most favourable attitude toward abortion between 1977 and 1987. The findings also depict a slight trend toward greater opposition to legalized abortion on the grounds of possible birth defect, while the approval of legal abortion on the grounds of rape increased marginally during the ten-year period. The paper goes further to examine socio-demographic variations in attitudes toward abortion. Some of the neglected issues that will likely make future Canadian abortion legislation impotent are also discussed.     

Führung virtueller Teams

Thanks to an ever-advancing technology and the ensuing development of new media, the boundaries between private and professional life become rather blurred, with digital tools enabling affordable, easy and fast communication, cooperation, organization and production. Organizations everywhere are recognizing the possibilities and benefits to be derived, and are developing cross-border work models to accommodate the new “economic world order”, where nothing is bound to a stationary, existing location anymore. Prime targets are, in particular, virtual teams, whose team members predominantly communicate by information and communication technologies (ICT). There are, however, new challenges to face and solutions to be found. What exactly lies ahead of us? What factors are key to a successful virtual team? Where do present virtual teams stand, and what will future virtual teams look like? The global management consulting firm Hay Group in collaboration with FKI – Führungskräfte Institut have asked both experts and leadership in a survey to share their opinion (N = 289). The results of the survey have shown that virtual teams are a very common form of cross-border work and will gain importance in the future. Furthermore, those six factors determining the success of a virtual team in particular degree, could be identified by the survey. Worth mentioning here in particular are the development of trust and the team leader.