Are health care scams infectious? Empirical evidence on contagion in health care fraud

This paper examines the presence of contagion in health care fraud across jurisdictional boundaries. Using state‐level data for the United States, we find evidence of contagion in medical fraud. There are also spillovers from border corruption on medical fraud, but no evidence of spillovers from international borders. In other findings, greater urbanization, greater elderly population, and higher hospital occupancy positively contribute to medical fraud, while nursing employment has a mitigating effect. Further, it is economic inequality rather than economic prosperity that seems relevant. The main findings are robust to consideration of simultaneity, but dependent upon the prevalence of fraud across states.     

Do quality perceptions of health and social services vary for different ethnic groups? An empirical investigation

The United States is now more ethnically diverse than any other time in its history. In 2000, minority ethnic groups comprised 26% of the US population; by 2010, they comprise 35%, and in 2080 they will form the majority of American citizens. And among these ethnic groups, African Americans (12.4%), Hispanics (15.4%) and Asians (4.4%) were the most predominant in 2000. The growth of this segment of the population is not only in terms of numbers but also in terms of economic development. Minority groups are showing marked improvement in income and education levels leading to greater purchasing power. As a result, for‐profit companies are increasingly targeting minority populations with products and promotions specifically designed for specific minority groups. Even non profit organizations such as educational programs, social service and healthcare agencies are striving to design specific services and culturally competent outreach models in order to serve this increasingly diverse marketplace. But despite the strides made by non profit agencies, several studies note the tremendous disparities between the ethnic and racial groups in the seeking and the receipt of health‐care and social services. Additionally, there is limited empirical information about the perceptions of minority consumers. In order to effectively serve minority groups, it is essential to understand their experiences with the non profit service industry and to assess their ongoing concerns. In this study, we focus on two critical components of the non profit world – healthcare and social services. We conducted a survey to compare and contrast the social service and health‐care quality perceptions of three ethnic groups: Caucasians, African‐Americans and Hispanics. Our study, undertaken in collaboration with community health centers, reveals distinct differences in perceptions between the three ethnic groups. Based on our findings, we outline a set of implementable strategies for social service and community health organizations. Copyright © 2010 John Wiley & Sons, Ltd.     

Are “bounced check loans” really loans? Theory,evidence and policy

This research addresses the controversial bank policy of paying – rather than bouncing – overdrawn checks, debits or ATM withdrawals. We argue that it should fall under lending regulations only if consumers use the program to get intentional loans. In contrast, if the program primarily applies to checking account activity then it should fall under checking account regulations. A model of precautionary balance holding and checking account customer data are used to estimate the likelihood of overdrafting. Predicted overdrafts are compared to actual overdrafts to conclude that 79% are explained by the model and thus thought to be mistakes due to the stochastic nature of household expenditures.     

Why are the unemployed in worse health? The causal effect of unemployment on health

We analyse the effect of unemployment on health using information from the German Socio-Economic Panel of the years 1991-2008. To establish a causal effect we rely on fixed-effects methods and plant closures as exogenous entries into unemployment. Although unemployment is negatively correlated with health, we do not find a negative effect of unemployment due to plant closure on health across several health measures (health satisfaction, mental health, and hospital visits). For this subgroup of the unemployed, unemployment does not seem to be harmful and selection effects of ill individuals into unemployment are likely to contribute to the observed overall correlation between poor health and unemployment.     

Carry-trades on the yen and the Swiss franc: are they different?

Using monthly data from 1986 to 2009 for 11 major currencies against the U.S. dollar (USD), we find that interest rate differentials between nine of these currencies are generally positive (sample mean of 0.86%) but are strongly negative for Japan (mean of ?2.78%) and for Switzerland (mean of ?2.22%). Investigating empirical models of nominal exchange rate changes we find for all panels that about 2% of real exchange rate misalignments are corrected in the following month. We also find important differences across samples and for the two carry-trade currencies the key results are as follows. First, interest rate differentials have a negative impact on exchange rates: higher paying currencies should appreciate, contrary to the ex-ante uncovered interest rate parity (UIP) condition. We find that this result is very robust to money supply (M1) differentials serving as instrumental variables to inflation rates. In addition, these two currencies depreciate slightly when money supply (M1) differentials increase. Second, dummy variables for periods of market turmoil suggest a particularly strong appreciation of these currencies against the USD, consistent with the unwinding of carry-trade activities.     

Job rotation and employee performance – evidence from a longitudinal study in the financial services industry

Job rotation, i.e. a lateral transfer of an employee between jobs within a company, is frequently used as a means to develop employees, learn about their abilities as well as to motivate them. We investigate the determinants and performance effects of job rotation empirically by analyzing a large panel data-set covering the German banking and financial services sector. In particular, we study (i) how prior individual performance affects the propensity to rotate and (ii) how performance changes after the rotation. We find that while both, low- and high-performers rotate, lateral moves are more frequent among low performers. However, those having been rotated between jobs achieve a higher performance in subsequent years as compared to other non-rotating employees in a comparable position. Interestingly, this effect is driven by high performers, whereas for low performers, we find no significant relationship between job rotation and future performance. The results thus suggest that firms should focus their job rotation programs on high performers and should not expect that low performers achieve performance gains when being rotated to a different function.     

Is literacy shared within households? Theory and evidence for Bangladesh

A member of a collective-action households may or may not share the benefits of literacy with others in that household; the shared gains from doing so may well be offset by a shift in the balance of power within the family. Using household survey data for Bangladesh, we find strong external effects of education on individual earnings. Holding a range of personal attributes constant, an illiterate adult earns significantly more in the non-farm economy when living in a family with at least one literate member. These effects are strongest, and most robust, for women. Omitted-variable bias cannot be ruled out but would also be consistent with an intra-household externality of literacy.     

Are the profitability and investment factors valid ICAPM risk factors? Pre-1963 evidence

We empirically evaluate whether the profitability and investment factors from Novy-Marx (2013) and Fama and French (2015, 2018) are compatible with Merton’s (1973) intertemporal CAPM (ICAPM) framework in the pre-1963 period. We show that: (i) the covariance risk price estimates of the profitability factors are positive and statistically significant, which indicates that they have explanatory power with respect to the cross-section of stock returns; (ii) the investment factors carry insignificant covariance risk prices and are therefore not valid ICAPM risk factors; and (iii) the profitability factors forecast the first moment of the aggregate stock return and economic activity with the correct sign, which is consistent with their positive covariance risk price estimates and satisfies the sign restrictions associated with the ICAPM.     

Are generational differences in work values fact or fiction? Multi-country evidence and implications

Few would disagree that human resource initiatives aimed at enhancing employees' quality of life have universal appeal, but the definition of ‘quality of life’ varies by generation. Workplaces are becoming increasingly age diverse and the likelihood that an older employee will report to a younger manager is increasing. Burke's study for the Society for Human Resource Management found that in organizations with 500 or more employees, 58% of human resource management (HRM) professionals reported conflict between younger and older workers, largely due to their different perceptions of work ethics and work–life balance requirements. While cultural and gender diversity have received significant attention in the literature, little attention has been paid to the impact of age diversity on HRM practices. This study attempts to bridge this gap by examining the work values of four generational cohorts – Traditionalists, Baby Boomers, Generation X, and Generation Y – across five countries. Generational differences were found when the effects of culture and life stage were controlled for. Significant differences were observed with Generation Y in particular, presenting creative challenges in accommodating the needs of this cohort while still watching the bottom line. This study establishes the legitimacy of intergenerational differences as an important social categorization variable.     

Is There Any Ethical and Moral Consideration in the Theory and Practice of Global Business Social Darwinism?

Abstract

This article has revisited the interchangeable meanings of morality and ethics in today's global business practices. This article argues that in the theory and practice of the global business Social Darwinism, there is no room for ethics and morality because the competitive international business ideology promotes the “survival of the fittest.” Furthermore, the purpose of this article is to first define the distinction between morality and ethics and their application in the real world of today's business; second, to analyze the ideological foundation of the international business practices of Social Darwinism in relation to global production, consumption, profitability, and efficacy.     

Shifting models of equality? Union Equality Reps in the public services

This article explores how far the emergence of public sector Equality Representatives represents a departure from a distinct radical model of union self‐organisation generated by the collective mobilisation of politically conscious identities, towards a more inclusive liberal model of equality based on abstract notions of ‘fairness’.     

The more funding the better? The moderating role of knowledge stock on the effects of different government-funded research projects on firm innovation in Chinese cultural and creative industries

Based on prior research, this study attempts to examine how effectively government-funded research projects (GFPs) can facilitate firm innovation in the cultural and creative industry (CCI), as well as the internal organizational contingency associated with the effects of GFPs. Specifically, this paper differentiates two types of GFP -- central-government-funded projects (CGFPs) and local-government-funded research projects (LGFPs) -- and explore how effectively the two types of GFP affect two types of firm innovation, i.e., radical innovation and incremental innovation. Based on an empirical study of the panel data of Chinese innovative firms related to the CCI, this paper finds that CGFPs have an inverted U-shaped effect on both firms’ radical innovation and incremental innovation in the CCI, while LGFPs have an inverted U-shaped effect on firms’ incremental innovation, but they have no significant effects on firms’ radical innovation. The effects of both CGFPs and LGFPs are moderated by firms’ knowledge stock.     

Are the stock and real estate markets integrated in China?

This paper examines the dynamic short-run and long-run co-movement between the real estate and stock markets in China by employing a continuous wavelet method. We use gross domestic product and M2 (broad money supply) as control variables to eliminate the common factors of the two markets and to identify the real nexus between them. The empirical results show that the co-movement between real estate and stock prices is weak in the short run, except during the financial crisis period. Since the stock market is highly volatile, while real estate prices are relatively stable, the two markets are less correlated in the short run. The results also show that real estate prices affect stock prices in the long run, which supports the existence of a credit-price effect in China. Real estate prices remained very high in most time periods. Enterprises and individuals can obtain funds from bank loans to invest in the stock market, thus raising stock prices. These findings indicate that the two markets are generally segmented in the short run but are integrated in the long run. The stabilization of the real estate market is critical for stability in the stock market, but not vice versa. Additionally, investments in the two markets may not provide a high level of risk dispersion in the long run in China.

     

Consumer attitudes toward genetically modified food in the United States: Are Millennials different?

ABSTRACT

Our study adds to the extant literature by focusing on Millennials, exploring possible generational shift that may have taken place in attitudes related to and consumption of such products. Results suggest that Millennials respond similarly as non-Millennials across several factors that shape consumers’ views and behaviors toward genetically modified technology and products. Millennials who are more educated and knowledgeable about biotechnology, though, are more willing to purchase GM foods. They perceive less risk and have fewer safety concerns compared to non-Millennials. Furthermore, male Millennials are more willing to purchase GM products and are more supportive of encouraging GM technology compared to female Millennials.     

Should everybody be in services? The effect of servitization on manufacturing firm performance

The servitization of the manufacturing sector refers to the evolution of manufacturers' capabilities to offer services as complements to or substitutes for the goods that they produce. A vast literature has described these strategies and has shown that this phenomenon is widespread and growing in most developed economies. However, very little systematic evidence of the extent or consequences of servitization based on a comprehensive data set of firms exists. In this paper, we provide such evidence using exhaustive data for French manufacturing firms between 1997 and 2007. We find that the vast majority of French manufacturers sell services in addition to producing goods. The shift toward services is growing steadily but at a slow pace. We also estimate the impact of servitization on firm performance. Controlling for various sources of endogeneity bias, our most conservative results show that firms that start selling services increase their profitability by 0.4%, their employment by 2.1%, and their total sales by 0.6%. For small businesses, we also find a positive impact on the production of goods. We also uncover strong heterogeneity across manufacturing industries.     

Are Three Cracks in the Danish Model of Industrial Relations?

The Danish system of industrial relations bears a lot of similarity to the traditional Scandinavian model of industrial relations. In this article the authors argue that whilst the Danish model has weathered the forces of change remarkably well up to now, a number of recent developments have started to produce ‘cracks’ in the model.     

Running on the spot? A review of twenty years of research on the management of human resources in comparative and international perspective

Research using a comparative and international perspective on the management of human resources is examined, drawing on articles published in leading human resource management, management/organizational behaviour and related social science journals between 1977 and 1997. In total a little under 2 per cent of the articles under review focused on the management of human resources in a comparative and international perspective. The largest group of these articles was comparative in nature (44 per cent), followed by those with an international perspective (35 per cent). A smaller number adopted a combined approach (17 per cent) and a few were separately classified as foreign national studies (4 per cent). Over time, there has been some progress made in terms of the number of articles published and the scope of topics covered. However, many of the articles displayed similar shortcomings to those noted in earlier reviews of cross-national management/organization studies: in particular, an over-reliance on a small number of primarily Anglo-Saxon countries, a lack of a longitudinal perspective, a loose specification of culture, an ethnocentric bias and a frequent failure to explain observed differences and similarities.     

Who Gets on the News? The relation between media biases and different actors in news reporting on complex policy processes

Abstract

Having a voice in media is important to gain power and legitimacy in policy processes. However, media are biased in transmitting information. Using a quantitative content analysis of ten years’ news reporting around water management policies in the Netherlands, we study how much media attention different groups of actors receive and how media biases relate to this attention. Executive politicians get on the news because of their authoritative position; less authoritative actors getting on the news is more related to information biases. Information biases can thus function as a form of checks and balances in news reporting on policy processes.     

Are offshore firms less conservative in financial reporting? International evidence

Using a large sample of multinational firms operating in offshore financial centers (offshore firms) from 1998 to 2014, this study investigates the financial reporting implications of economic activities involving offshore financial centers (OFCs). We find that offshore firms have a greater tendency to report less conservatively than non‐offshore firms. Moreover, we find that financial reporting is less conservative for firms operating in OFCs with more pronounced OFC attributes than for those with less pronounced OFC attributes. Finally, we also find that firms with their headquarters registered in OFCs (type I offshore firms) tend to adopt less conservative accounting practices than those with subsidiaries operating in OFCs (type II offshore firms). Our findings provide useful insights into how a multinational firm's operation in OFCs is associated with financial reporting practices.     

Are the interdependence characteristics of the US and Canadian energy equity sectors nonlinear and asymmetric?

Nonlinear, symmetric, and asymmetric dependence characteristics in energy equity sectors matter to portfolio investors and risk managers because of the risks and diversification opportunities they entail. Specifically, nonlinear dependence dynamics between assets are harder to predict, monitor, and manage, and can make investment positions go wrong unexpectedly. In this paper, we investigate whether the dependence dynamics of US and Canadian large-capitalized energy equity portfolios are nonlinear, symmetric, or asymmetric. We draw our results by implementing a robust copula approach based on time-varying parameter copulas and vine copula methods. Both time varying parameter and vine-copula methods indicate that the Canadian energy sector portfolio is driven by nonlinear negative tail asymmetric dependence during the global financial crisis and when the full sample period is employed. On the other hand, it displays nonlinear symmetric dependence during the oil price crisis, implying the need for close monitoring and rebalancing and a more continuous assessment of long investment positions. The US energy sector portfolio is driven by positive tail asymmetric dependence, and by symmetric dependence dynamics during crisis and non-crisis periods.