Specification tests and tests for overidentifying restrictions in panel data models with selection

Standard tests are generally not applicable in panel data models with selection. The paper shows how the Hausman specification test and the Sargan-Hansen test for overidentifying restrictions can be generalized to panel data models with unobserved heterogeneity and sample selection.     

Information effect of entry into credit ratings market: The case of insurers' ratings

The paper analyzes the effect of competition between credit rating agencies (CRAs) on the information content of ratings. We show that a monopolistic CRA pools sellers into multiple rating classes and has partial market coverage. This provides an opportunity for market entry. The entrant designs a rating scale distinct from that of the incumbent. It targets higher-than-average companies in each rating grade of the incumbent's rating scale and employs more stringent rating standards. We use Standard and Poor's (S&P) entry into the market for insurance ratings previously covered by a monopolist, A.M. Best, to empirically test the impact of entry on the information content of ratings. The empirical analysis reveals that S&P required higher standards to assign a rating similar to the one assigned by A.M. Best and that higher-than-average quality insurers in each rating category of A.M. Best chose to receive a second rating from S&P.     

Two elementary schools’ developing potential for sustainability of engineering education

The Next Generation Science Standards present a way for engineering lessons to be formally integrated into elementary classrooms at a national level in the United States. Professional development programs are an important method for preparing teachers to enact the new engineering practices in their science classrooms. To better understand what contextual factors help a professional development program have a sustained effect on the implementation of engineering, we closely examined two elementary schools within the same school district that participated in the same professional development program but had very different outcomes in their lasting implementation of engineering. Using the case study method, we corroborate quantitative and qualitative sources of data measuring students’ learning and attitudes; teachers’ learning, attitudes, and implementation fidelity; perceived teacher community; and administrative support. Our analysis revealed that although the professional development program had district-level administrative support, there was considerable variation between schools in how teachers’ perceived school level support. In addition, teachers at the sustaining school collaborated and co-taught with one another. Our findings support previous literature on the role of administrative support and teacher learning communities. We discuss practical ways that professional development programs can seek to foster a context which is supportive of sustaining curriculum change for engineering.     

Facebook Content Strategies and Citizens’ Online Engagement: The Case of Greek Local Governments

This paper analyzes the communication strategies used by Greek local governments through the utilization of Web 2.0 technologies, specifically Facebook, and the effectiveness of these strategies in relation to citizens’ online engagement. More specifically, it examines Facebook communication strategies and levels of citizens’ engagement. For this purpose, we conducted a content analysis on the active and official Facebook pages of local municipalities in Greece from January 2017 until the end of September 2017. Our results suggest a rise in the percentage of active Facebook pages maintained by local governments in comparison to our 2014 study. Our results also show that local governments in Greece are using Facebook in a predominantly top-down manner to promote events organized by the municipality and to push one-way information to citizens about their services and actions. Local authorities have, however, made significant progress in relation to posts that support transparency and accountability and that enhance or mobilize citizens’ participation. Our evaluation of local government Facebook strategies indicates that marketing the municipality to external public, such as tourists, and providing information about services are effective strategies that drive citizens’ online attitude expression (liking), engagement (commenting), and advocacy behavior (sharing). According to our analysis, local governments in Greece prefer the strategies that we found to be the least engaging. In addition, our study provides interesting details of how specific characteristics and modes of Facebook messages (photos, videos, URLs, hashtags, and mentions) impact on citizens’ engagement. Finally, our results provide valuable insights for social media managers in local government who aim to increase the impact of their municipal Facebook pages.     

Undoing gender through performing the other

ABSTRACT

Following the perspective of gender as a socially constructed performance, consumer research has given light to how individuals take on, negotiate, and express a variety of gender roles. Yet the focus of research has remained on gender roles themselves, largely overlooking the underlying process of gender performativity and consumers’ engagement with it in the context of their everyday lives. Set within a performance methodology and the context of crossplay in live action role-playing games, this paper explores how individuals undo gender on a subjective level, thus becoming conscious and reflexive of gender performativity. The study suggests that individuals become active in undoing gender through engaging in direct, bodily performance of the gender other. Such performance does not challenge or ridicule norms, but pushes individuals to actively figure out for themselves how gender is performed. As a result, individuals become aware of gender performativity and become capable of actively recombining everyday performance.     

The <Emphasis Type="Italic">featuring</Emphasis> phenomenon in music: how combining artists of different genres increases a song’s popularity

The appearance of songs including featured artists on Billboard’s Hot 100 music charts has increased exponentially in the past two decades. This particular type of creative collaboration involves one artist integrating another artist’s contribution, either instrumentally or vocally, into their work and publicizing it with a “featuring” credit. According to broad literature in sociology on categorical boundaries, artists who deviate from existing genres are expected to be penalized for violating collective expectations and norms. We find songs featuring other artists actually have a greater likelihood of making it into the top 10 than songs not featuring other artists. Additionally, consistent with theorizing about congruency in the co-branding literature, we observe that the greater the difference (cultural distance) between the genres of the artists involved, the more likely the song is to reach the top of the charts. We argue that by combining the expertise of specialists in each genre, as well as comingling audiences while still maintaining each collaborator’s original positioning, artists who feature artists from other genres are able to produce more successful songs.     

The impact of conglomeration on the option value of equity

Using contingent claims analysis, I quantify the effect of risk-reducing corporate diversification on the value of equity as a call option on firm assets. The impact of conglomeration on firm risk is heavily conditioned on firm size. In contrast to small firms, the risk of large firms does not decline with increasing conglomeration. Accounting for this effect, the expected equity discount is much lower than commonly assumed and can even turn into a premium if the path dependency of equity is incorporated. My results stand in direct contrast to those of Mansi and Reeb (2002) and caution against using asset substitution as a qualitative argument for explaining economy-wide value phenomena.     

A framework for analyzing flexibility of generic objects

Flexibility is a loosely defined term used in a number of application areas with different and frequently contradicting views. In this paper, adopting as a starting point the use of the term in the manufacturing and information systems domains, we present a framework for the examination of generic objects utilizing cloud diagrams. We first portray the potential flexibility of a designed object and then its actual flexibility expressing its ability to adapt to changes. Examples of its use illustrate the ideas and their application. We believe that this research will be helpful in offering guidelines to designers of new systems where flexibility is important.     

Human resource management systems and organizational performance: a test of a mediating model in the Greek manufacturing context

This paper investigates the relationship between systems of HRM policies and organizational performance. The research is based on a sample of 178 organizations operating in the Greek manufacturing sector. A mediation model is tested to examine the link between HRM and organizational performance. The results of this study support the hypothesis that the relationship between the HRM systems of resourcing–development and reward–relations, and organizational performance, is mediated through the HRM outcomes of skills and attitudes. The paper not only supports the theory that HRM systems have a positive impact on organizational performance but also explains the mechanisms through which HRM systems improve organizational performance.