Semiparametric ARCH Models

This article introduces a semiparametric autoregressive conditional heteroscedasticity (ARCH) model that has conditional first and second moments given by autoregressive moving average and ARCH parametric formulations but a conditional density that is assumed only to be sufficiently smooth to be approximated by a nonparametric density estimator. For several particular conditional densities, the relative efficiency of the quasi-maximum likelihood estimator is compared with maximum likelihood under correct specification. These potential efficiency gains for a fully adaptive procedure are compared in a Monte Carlo experiment with the observed gains from using the proposed semiparametric procedure, and it is found that the estimator captures a substantial proportion of the potential. The estimator is applied to daily stock returns from small firms that are found to exhibit conditional skewness and kurtosis and to the British pound to dollar exchange rate.     

The American sociologist: Characteristics in the 1990s

This article describes the characteristics, theoretical preferences, and political orientations of sociologists in the United States. The findings are the most representative of their kind reported to date. Other professional groups, such as psychiatrists, have been studied over time (Gallagher, 1977; Gallagher et al., 1987; Gallagher et al., 1990), but studies of sociologists have been almost non-existent. In fact, there has only been one study of this nature conducted in the 1990s, and that one sampled only sociologists whose names appeared on the membership list of the American Sociological Association (Sanderson and Ellis, 1992). However, that sampling frame did not provide a representative cross-section of American sociologists because it excluded the large proportion of sociologists who are not members of the ASA and who probably are systematically different than members. It is ironic that sociologists who intensively study the characteristics of all sorts of groups know so little about themselves. That is a major reason why this project was undertaken.     

The impact of international experience on cultural intelligence: an application of contact theory in a structured short-term programme

The objective of this study is to examine the impact of a short-term international experience, which is designed to address the conditions outlined in Allport’s (Allport, G.W. 1954. The Nature of Prejudice. New York: Perseus Book Group) contact hypothesis, on each of the four factors which make up cultural intelligence (CQ). A sample of 135 university students was broken up into test and control groups. The results for the test group suggest that the short-term experience ranging from 7 to 12 days within a structured study abroad service programme, including modest pre-trip preparation, found a significant increase in each of the four factors of CQ. At the same time, there was no significant change in the control group. Implications for human research development research and practice as well as limitations and suggested areas for future research are discussed.     

Promoting Self-Efficacy and Self-Esteem for Multiethnic Sexual Minority Youth: An Evidence-Informed Intervention

ABSTRACT

Sexual minority youth face multiple challenges, yet research regarding evidence-informed practice strategies for this population is limited. This study describes the pilot efforts of Strengths First, the first strengths-based intervention created specifically to promote self-esteem and self-efficacy among multiethnic sexual minority youth. A pretest–posttest design was used to gather preliminary data from program participants (n = 162) about the potential effectiveness of the program during a 2-year period that ranged from the inception of the program in June 2008 to September 2010. Significant increases in self-esteem and self-efficacy were found. Implications for social service research and practice are discussed.     

Nonverbal behaviors as indices of arousal: Extension to the psychotherapy context

In an investigation guided by the premise that overt nonverbal indices may often be practical and valid indicators of arousal, Burgoon, Kelley, Newton, and Keeley-Dyreson (1989) found different nonverbal behaviors associated with arousal intensity and with positively and negatively valenced arousal. The current investigation extends that research to a new context, examining (1) the ability of a global measure of observed arousal and specific nonverbal indices of arousal intensity and valence to detect presumed nonlinear arousal changes during psychotherapy, (2) the differential impact of nonverbal indicators across phases of a therapy session, and (3) the relationship of nonverbal indicators to therapy outcome. Raters judged all-channel global arousal or specific kinesic and vocalic nonverbal behaviors during Focused Expressive Psychotherapy (FEP) sessions, during which high levels of negative arousal are evoked. Manifest global arousal, random movement/self-adaptors, and kinesic pleasantness conformed to hypothesized nonlinear patterns across time within therapy sessions. Nonverbal correlates of manifest global arousal varied across therapy phases. Moderate manifest arousal, especially random movement/self-adaptors and vocal tension, and high vocal expressiveness during the middle of the therapy work session were most predictive of patients' self-reported resolution at the end of therapy.Portions of this research were supported through grant no. MH-R01-39859 from the National Institute of Mental Health and were presented in an earlier version to the annual meeting of the Speech Communication Association, Chicago, November 1990.     

Large Dynamic Covariance Matrices

Second moments of asset returns are important for risk management and portfolio selection. The problem of estimating second moments can be approached from two angles: time series and the cross-section. In time series, the key is to account for conditional heteroscedasticity; a favored model is Dynamic Conditional Correlation (DCC), derived from the ARCH/GARCH family started by Engle (1982). In the cross-section, the key is to correct in-sample biases of sample covariance matrix eigenvalues; a favored model is nonlinear shrinkage, derived from Random Matrix Theory (RMT). The present article marries these two strands of literature to deliver improved estimation of large dynamic covariance matrices. Supplementary material for this article is available online.     

Baghdadi Jews in Hong Kong: converting cultural,social and economic capital among three transregional networks

This article is an analysis of the attempts of Baghdadi Jewish traders in Hong Kong in the second half of the nineteenth century to construct and convert cultural, social and economic capital within and between the transregional networks of the Baghdadi diaspora, the Jewish diaspora and the British colonial elite. The analysis of the multiple and multi‐directional intersections between the cultural, social and economic characteristics of the three networks shows that Baghdadi social capital accounted for significant ruptures and disjunctures between the increasing cosmopolitanization, deterritorialization and hybridization of the Baghdadi traders' cultural identities and the definition of Baghdadi cultural capital. An understanding of the role of Baghdadi social capital in accounting for the construction and convertibility of cultural, social and economic capital among these three transregional networks helps to explain the reproduction of social inequalities under increasing conditions of globalization, that is, under conditions that potentially augmented the number of sources defining cultural capital.