Keeping informed during times of economic downturn: the trusted amateur as a preferred source of financial information

Service providers need to understand financial capability from the perspective of the older client, in order to deliver services best suited for this age group. This article explores how older people perceive one dimension of their financial capability—their ability to stay financially informed. Older people were found to be accessing less traditional sources of financial information: they are either selfreliant for information, researching on the internet or using the media, or they tap into existing sources of social capital found within their social networks. Trusted public and voluntary sector service providers are preferred information resources over and above professionals in financial services. These findings suggest financial services need to build trust and/or form partnerships with other trusted voluntary or public sector services.     

Researching Corporate Social Responsibility Communication: Themes,Opportunities and Challenges

Growing recognition that communication with stakeholders forms an essential element in the design, implementation and success of corporate social responsibility (CSR) has given rise to a burgeoning CSR communication literature. However this literature is scattered across various sub‐disciplines of management research and exhibits considerable heterogeneity in its core assumptions, approaches and goals. This article provides a thematically‐driven review of the extant literature across five core sub‐disciplines, identifying dominant views upon the audience of CSR communication (internal/external actors) and CSR communication purpose, as well as pervasive theoretical approaches and research paradigms manifested across these areas. The article then sets out a new conceptual framework – the 4Is of CSR communication research – that distinguishes between research on CSR Integration, CSR Interpretation, CSR Identity, and CSR Image. This typology of research streams organizes the central themes, opportunities and challenges for CSR communication theory development, and provides a heuristic against which future research can be located.     

Household Finances and Social Interaction: Bayesian Analysis of Household Panel Data

We investigate the relationship between social interaction and household finances using the British Household Panel Survey. We explore the relationship between a wide range of aspects of household finances and social interaction, rather than focusing on one particular facet of household finances, such as the holding of stocks and shares. We develop a Bayesian statistical framework to simultaneously explore both sides of the household balance sheet—liabilities and assets. Additionally, we allow the influence of social interaction on household finances to be time dependent, enabling us to model the effects of social interaction from a dynamic perspective. We also develop a two‐part model to jointly investigate the influence of social interaction on the amount of different types of debt and financial assets held conditional on holding the different types of debt and assets. Our analysis suggests that social interaction is associated with households holding larger amounts of debt and assets.     

Exchange rate and foreign GDP elasticities of Swiss exports across sectors and destination countries

This article uses a detailed breakdown of Swiss trade flows to identify how the impact of the two main determinants of Switzerland’s exports – foreign demand and the real exchange rate – varies across sectors and export destinations. Our main findings are that (i) both foreign demand and exchange rate elasticities vary substantially across both export sectors and export destinations. (ii) Foreign demand trends are more important for structural considerations than the exchange rate. This is due to the fact that exports of the two largest export sectors are relatively sensitive to long-run foreign demand developments while they are relatively insensitive to changes in the exchange rate. (iii) The sectoral structure of Switzerland’s exports has shifted towards goods that have a lower short-run demand elasticity and a higher long-run demand elasticity. Goods exports are thus less influenced by business cycle fluctuations while they benefit more from long-term growth trends. (iv) The export share of sectors with a relatively low exchange rate elasticity has increased. However, this result is mainly driven by the strong rise in exports of chemicals and pharmaceuticals as well as precision instruments and watches, which are also the two important sectors responsible for the Swiss trade surplus.     

Confrontations and concessions: an everyday politics of tourism in three ethnic minority villages,Guizhou Province,China

As a state-promoted livelihood diversification approach for ethnic minority communities in rural China, tourism development influences household and community assets in diverse ways. Focusing on three case study villages in Qiandongnan Hmong and Dong Autonomous Prefecture, Guizhou Province, we compare the livelihoods of one village without tourism to date (but slated for tourism development in the near future), one with a ‘medium’ level of tourism, and another where tourism is in full force. Our analysis of the transitional characteristics of these communities focuses on agriculture, income-related activities, cultural norms, and social relationships to shed light on the everyday politics of ethnic minority households under different stresses and demands from local government and state-controlled tourism businesses. We find that confrontations have arisen due to tourism expansion and state tourism planning directives among a wide range of stakeholders: Zhailao elites, core and peripheral tourism communities, country-level governments, local residents, and tourists. In turn, local residents have made broad concessions ranging from resignation to unwelcome changes in their livelihoods and new income inequalities, to acceptance of certain tourism-based changes and reallocation of resources. In sum, we find that villagers’ everyday politics involves coping with or challenging new tensions in diverse ways, yet at times marginalisation remains.     

Rural-Urban Differences in the Unemployment-Crime Relationship: The Case of Pennsylvania

This study analyzes the unemployment-crime (U-C) relationship in urban and rural Pennsylvania counties using a balanced panel data set over the period from 1990 to 2009. A two-way fixed effects model is estimated to account for unobserved county-specific and time-specific heterogeneity. The criminal opportunity and criminal motivation effects of unemployment on crime advanced by Cantor and Land are tested. The results suggest that there are rural-urban differences in the impacts of the covariates. Specifically, both statistically significant criminal opportunity and criminal motivation effects are present in urban counties. In contrast, rural counties fail to conform to U-C predictions. Oaxaca decomposition reveals that the unexplained portion of the rural-urban difference in the crime rate is 12%. The results provide support for addressing labor market conditions to complement traditional crime-fighting measures in urban settings.     

Dropouts,Defaulters, and Continuing Borrowers: Client Exit from Microfinance

High dropout rates are a problem faced by many microfinance institutions, with borrowers exiting after a few loans. The curiosity of dropouts is that, unlike defaulters, they repay their loans. To understand this I investigate differences across borrowers using data from Zimbabwe. I find that negative shocks are a significant predictor of dropout, but not of default, and that social networks are the most important correlate of on‐time repayment. The results show the importance of social networks in determining credit relationships.     

Bendamustine-rituximab: a cost-utility analysis in first-line treatment of indolent non-Hodgkin’s lymphoma in England and Wales

Objective:

To evaluate the cost-effectiveness of bendamustine-rituximab (B-R) compared with CHOP-R (cyclophosphamide, doxorubicin, vincristine, prednisone, rituximab) and CVP-R (cyclophosphamide, vincristine, prednisone, rituximab) as first-line treatment for patients with advanced indolent non-Hodgkin’s lymphoma (NHL).

Methods:

A patient-level simulation was adapted from the model used by the University of Sheffield School of Health and Related Research (ScHARR) in a health technology appraisal of rituximab for first-line treatment of follicular lymphoma. This approach allowed modelling of the complex treatment pathways in indolent NHL. Data from a Phase 3 randomized, open-label trial were used to compare B-R with CHOP-R. The relative efficacy of CHOP-R and CVP-R was estimated using an indirect treatment comparison similar to the original ScHARR approach. The analysis was conducted from the perspective of the National Health Service in England and Wales, using a lifetime time horizon. A number of one-way sensitivity and scenario analyses were conducted, including one using recently published data comparing CVP-R with CHOP-R.

Results:

The deterministic incremental cost-effectiveness ratio (ICER) was £5249 per quality adjusted life year (QALY) for B-R vs CHOP-R, and £8092 per QALY for B-R vs CVP-R. The alternative scenario using direct data comparing CVP-R with CHOP-R approximately halved the ICER for B-R vs CVP-R to £4733. Owing to its better toxicity profile, B-R reduced the cost of treating adverse events by over £1000 per patient vs CHOP-R.

Limitations:

The main limitations were: immaturity of overall survival data from the Phase 3 trial; reliance on quality-of-life data from previous health technology appraisals (as this was not collected in the trial); and a lack of direct evidence or a network of connected evidence comparing B-R with CVP-R.

Conclusions:

The ICERs for B-R vs CHOP-R and CVP-R were considerably below the thresholds normally regarded as cost-effective in England and Wales (£20,000–30,000 per QALY).