“Your Job No Longer Exists!”: From Experiences of Alienation to Expectations of Resilience—A Phenomenological Study

We have entered the age of the contingent or temporary worker, the consultant and the subcontractor. Workers are expected to be pliable and tractable; to “fit in.” Being made redundant is also an area where modern workers are expected to be flexible and resilient. However, when these so-called “flexible” workers are told their job no longer exists, the accompanying sense of rejection and alienation can be excruciating. Stories of being made redundant were collected during an exploratory, qualitative study, using Heideggerian phenomenology as the methodological vehicle to capture the lived experiences of those affected. Focused, in-depth interviews were conducted with the ten respondents; nine men and one woman. The stories shared suggest that being made redundant is an alienating experience with respondents sharing feelings of powerlessness, shock, betrayal, shame and social isolation. Unfortunately, those having experienced redundancy were also not as resilient as is routinely assumed. They did not “bounce back” unchanged, but reported significant negative outcomes including fear for the future, underemployment, family disruptions and an erosion of trust. Recommendations are made orienting organisations towards a more human process of redundancy.     

A reexamination of the web‐based job demand for PHR and SPHR certifications in the United States

Over the past decade, the exponential growth in Professional in Human Resources (PHR) and Senior Professional in Human Resources (SPHR) certifications awarded by the Human Resource Certification Institute substantiates the need to reexamine the base rate of HR job announcements that require or prefer such certification. Based on a sample of Web‐based job announcements in 2002, Aguinis, Michaelis, and Jones (2005) reported that only 1.4 percent required or preferred PHR/SPHR certification. Using a similar design, the current study found that 15.6 percent of job announcements required or preferred PHR/SPHR certification, which is nearly 11 times the rate found in the Aguinis et al. (2005) study. Results also suggested the demand for PHR/SPHR certification was positively related to experience, educational level, and job title level, with the base rate reaching 25.1 percent for managerial HR roles.     

Female earnings and the divorce rate: a simultaneous equations model

Economists have contributed a great deal of research, both theoretical and empirical, to the study of marital formation and dissolution. Many empirical examinations of marriage and divorce rates exist based on Becker's seminal contributions to the literature. All of these divorce studies are single equation models, with female earnings assumed exogenous. As discussed by Becker (1981), however, causality may run in the opposite direction as well: the divorce rate may influence female earnings. This paper estimates a simultaneous equations model in which divorce rates and female earnings are the jointly endogenous variables. Data are by state, for 1960, 1970, 1980 and 1990. The state-wide divorce rate equation is an extension of Waters and Ressler (1999), and the specification of a state-wide earnings equation follows standard human capital theory. The specification of joint endogeneity between female earnings and the divorce rate allows valid inferences to be made regarding the effect of female earnings on divorce for the first time. Most previous single equation studies of divorce have found that increases in female earnings significantly increase divorce rates. A simultaneous equations model will allow inferences to be made regarding the possibility of joint determination, which may cause a reevaluation of previous results.     

Inequity in American Schools: A New Perspective on the Distributional Effects of School Expenditures on Economic Well‐Being

This article explores how inequities in public K‐12 school spending impact the distribution of economic well‐being across American households with public school students in 1989 and 2000. Adapting concepts from the public finance literature, I explore the impact of school spending on the vertical and horizontal equity and its impact relative to other types of public spending on social programs and taxation. Conventionally, vertical equity refers to the size of the income gaps between households. Horizontal equity refers to the ranking of households along the income distribution with any change in ranks producing horizontal inequity. My main findings show that school spending, when converted into a component of income, served to reduce extended‐income inequality through improvements in vertical equity without the discriminatory implications of exacerbating horizontal inequity across households. Additionally, this impact was at least as large as that of spending on other social programs. This finding bolsters standard arguments for equity and progressivity of school finance across students.     

“Look at Him ... He’s Failing”: Male Executives’ Experiences of Redundancy

Participation and success in paid work is a key element of identity for many men. The increased prevalence of downsizing and the associated discarding of individuals from their workplaces, then, has particular relevance for men. This paper shares qualitative findings from an exploratory phenomenological study investigating the experiences of Australian executives who had been made redundant. Three themes related to male identity are presented here: Failing as the breadwinner; Being less of a person; and, Losing success. The participants in this study shared feelings of anger, sadness, fear and embarrassment as a result of the assault to their identity that accompanied their involuntary redundancies. The impacts of redundancy were not only felt in relation to their job loss, but continued after returning to work. At a time when downsizing continues to feature as a routine part of organisational life—for some, an experience repeated throughout their careers—further exploration of the experience of redundancy and its implications is required.     

The roles of news and volatility in stock market correlations during the global financial crisis

The global financial crisis has again brought the interdependencies of international financial markets to the fore, particularly during times of financial crises. This paper explores the relative roles of news and volatility in explaining the changes in correlations between national stock markets during the global financial crisis. Our results show that the majority of the correlations are more strongly explained by volatility rather than news. However as the global financial crisis evolves the relative role of news grows in importance.     

Angel investor characteristics that determine whether perceived passion leads to higher evaluations of funding potential

Despite interest in understanding the role passion plays in investor decision making, little is known about the conditions under which perceived passion is likely to play a significant role in the funding decision process. We first establish a relationship between perceived passion and evaluations of funding potential, then use affective reactivity as a theoretical framework to explore how several individual characteristics of angel investors impact the relationship between perceived passion and evaluations of funding potential. The results indicate that the relationship is stronger for angel investors who are older, more intuitive, have a high openness personality, or those who are motivated to mentor. Surprisingly, the relationship weakens for angels who are extraverted and those who have a promotion-dominated regulatory focus.     

Incremental net monetary benefit of ocrelizumab relative to subcutaneous interferon β-1a

Aim: Disease-modifying therapies (DMTs) impact the natural history of relapsing forms of multiple sclerosis (RRMS) by reducing annual relapse rates and slowing disability progression. The effect of DMTs on indirect costs has not been consistently explored in cost-effectiveness studies thus far. The value to patients of an emerging DMT, ocrelizumab, was quantified in comparison to subcutaneous interferon beta-1a (IFNβSC) for the prevalent RRMS population with mild-to-moderate disability in the US, based on two Phase 3 trials, OPERA I and OPERA II, of ocrelizumab vs IFNβSC in RRMS.

Materials and methods: A Markov model was developed to compare disability progression as measured by Expanded Disability Status Scale (EDSS) and relapse outcomes over a 30-year horizon for ocrelizumab vs IFNβSC. Direct, indirect, and informal costs (2016?US dollars) and utilities for EDSS health states were obtained from the literature. Hazard ratios for disability progression and relapse rates were estimated from clinical trials. Value was assessed by calculating the net monetary benefit (NMB), defined as the monetary value of discounted quality-adjusted life years (QALYs) minus total costs, where the value of a QALY was $150,000. One-way sensitivity analyses were conducted.

Results: Ocrelizumab was associated with an incremental gain of 0.84 QALYs and cost savings of $287,713 relative to IFNβSC, resulting in an incremental NMB (INMB) of $413,611 per person over 30 years. The INMB increased by $151,763 for those initiating ocrelizumab at EDSS level 1 vs level 4. Influential parameters were QALY value, treatment costs, and disability progression; however, all sensitivity analyses indicated that the INMB for ocrelizumab relative to IFNβSC was ≥$300,000 per person.

Conclusions: Ocrelizumab provides greater value to RRMS patients compared with IFNβSC. Initiating ocrelizumab at lower EDSS levels leads to a greater cumulative value due to slower disability progression, which extends years with higher quality-of-life.