THE IMPACT OF BOND RATING CHANGES ON COMMON STOCKS AND BONDS: TESTS OF THE WEALTH REDISTRIBUTION HYPOTHESIS

Past studies on the impact of bond rating changes have focused on bonds or stocks and the information content of rating change announcements. This paper examines both bonds and stocks and investigates the wealth redistribution effect as well as the existence of information content. The results imply that information content of “bad’ news dominates firm downgradings, while the wealth redistribution effect dominates firm upgradings. Furthermore, this study attributes the lack of information content for bond upgradings to the offsetting effects of wealth redistribution and information content.     

Strategic pattern recognition—experimental evidence

The repeated play of an asymmetric Battle of the Sexes is analyzed from the perspective of “strategic pattern recognition.” Convergence to equilibrium patterns (in finite histories) and related concepts like breaking-an-equilibrium-pattern are defined and applied to the data. More than half of 202 pairs of subjects are characterized as weakly converging to a fixed equilibrium pattern. The results also show that subjects tend to break their best pattern in cases where their partners' payoffs are relatively low and that convergence initiation does not pay off. While female subjects frequently reject the males' best equilibrium with anonymous matching, behavior gets more cooperative when pairs are introduced to each other before the beginning of the game.     

Creating infographics to enhance student engagement and communication in health economics

In this article, the authors discuss and describe the implementation of and lessons learned from a course project centered on the creation of an infographic in a health economics course and an introduction to health research course. Students were asked to create a simple infographic about a particular topic, after researching and gathering data on that topic. The instructors observed how students synthesized information and data to tell a visual story with their infographic. This article adds to the limited literature regarding infographics in undergraduate instruction. An infographic offers faculty an opportunity to apply active learning strategies to enhance student engagement, retention of information, and communication skills.     

Leader support for gender equity: Understanding prosocial goal orientation,leadership motivation,and power sharing

We focus on how interpersonal characteristics should influence leader support for gender equity in organizations. Recognizing gender disparities in organizations and the “labyrinth” that women face when they advance in their careers (cf. Eagly & Carli, 2007), we develop a model for how interpersonal characteristics of leaders, both men and women, influence power construal and thus their use of empowerment, mentoring, and performance feedback, ultimately affecting career opportunities for women in organizations. The model proposes that leaders who are high on communal goal orientation, a prosocial characteristic, are more likely to construe power through a responsibility lens and behave in ways that ultimately support gender equity in organizations. In contrast, leaders with an exchange goal orientation are more likely to construe power through a freedom lens and behave in ways that are self-serving. Prestige motivation will increase the extent to which leaders, especially those who are communally oriented, share power. Dominance motivation will increase the extent to which leaders, especially those who are exchange oriented, act in self-interest and retain power, ultimately imposing barriers to women's career advancement. Organizations can potentially increase leader power sharing by encouraging and reinforcing leaders' prosocial characteristics of communal orientation and prestige motivation. Implications for research and practice are discussed.     

WHO WANTS PATERNALISM?

Little is known about the demand side of paternalism. We investigate attitudes towards paternalism among Danish students. The main question is whether demand for paternalism is related to self‐control, either because people with self‐control problems seek commitment devices to overcome these problems, or because people with good self‐control want those who lack it to change their behaviours. We find no evidence linking self‐control to attitudes towards weak forms of paternalism (e.g., nudges or information about health consequences). But respondents with good self‐control are significantly more favourable towards strong paternalism (e.g., restricting choices or sin taxes) than those struggling with self‐control.     

Theoretical Framework of Social Marketing Effectiveness: Drawing the Big Picture on its Functioning

Social marketing involves campaigns that aim to change individual behavior as well as prosocial behavior in diverse fields, such as health prevention and environment protection. Restricted public funds, debates about the social responsibilities of governments, nonprofit organizations and societies, as well as financial crises have increased interest in effective social marketing as a means of mitigating existing social problems. This article aims to draw the big picture on social marketing effectiveness by developing its theoretical framework. This framework brings together fragmented findings on social marketing effectiveness and incorporates a framework as a theoretically grounded process from relevant stimuli to intended responses. It provides a basis for further research. Recommendations for improved social marketing campaigns are derived. Managerial implications have great relevance for public and nonprofit management, as social marketing strongly influences the work and mission of public and nonprofit organizations.     

Impact of public involvement in research on quality of life and society: a case study of research career trajectories

This case study illustrates the research career trajectory of two lay researchers after they joined a Big Lottery funded study to explore loneliness and isolation among older people living in a town in the north of England, UK. The two lay researchers were of pensionable age themselves and engaged in all aspects of the research process as full members of the research team. Following research methods training and their substantive input into study design, they engaged fully in an approach of peer‐interviewing of other older adults as the main study method. Following this initial exposure to undertaking research, these exemplars of public involvement in research went on to be involved in other research as co‐researchers at a local and national level. Initially the paper sets out the lay researchers' personal backgrounds and expectations from involvement in research. The impact of their involvement in research on their quality of life and that of their community is presented. Latterly, the societal impact of the lay researcher's involvement is examined. The difference they made to the initial study design and conduct is described first followed by their development as substantial research resources for other studies and community initiatives. Overall the impact of these lay researchers has been significant and the paper provides an example of how involvement in research can impact on individuals and communities to great effect.