Does educational diversity of managers matter for the performance of team‐managed funds?

We study the effect of the educational diversity of managers on the performance of team‐managed mutual funds using a large sample of U.S. equity funds from 1994 to 2013. We consider diversity in terms of both final educational degree and field of educational specialisation. We find that, in general, both types of diversity have a positive impact on fund performance, and our results are robust over a wide range of performance metrics and changes in market conditions.     

Multilayer financial networks and systemic importance: Evidence from China

In this paper, we develop a multilayer network structure and reveal the relationship between network structure and systemic risk. Unlike many previous studies, our model considers both liability and cross-holding of shares between financial institutions simultaneously. We propose a new systemic risk measurement by exploring the dynamic mechanism of financial contagion in the multilayer network. We display the network structure of Chinese financial institutions, including connectivity and diversity, and identify the systemic importance of them. We demonstrate that the multilayer network plays a non-linear role in financial risk spreading. Using the panel regression model and several experiment evidences, we show that the systemic risk can be explained more effectively by the linkage diversity more than the connectivity at both the institutional level and the system level. Our results highlight the importance of considering contagion mechanisms that go beyond a simple single-layer network structure.     

Advertising,avoiding, disrupting,and tabooing: The discursive construction of diversity subjects in the Turkish context

This study investigates organizational diversity discourses in Turkey – a non-Western, politically relevant, yet underrepresented context. Using a Foucauldian perspective on power and discourse, we scrutinize how power relations in the Turkish context are (re)produced. Based on our analysis of company websites and semi-structured interviews with various actors (e.g., HR managers), we propose a conceptual framework of the discursive construction of diversity subjects at work along the dimensions of (1) visibility of organizational diversity discourses and (2) contestation of meaning within organizational diversity discourses. The combination of these dimensions yields four discursive dynamics as illustrated in our data (Advertising, Avoiding, Disrupting, Tabooing). This framework may inspire future context- and power-sensitive investigations on diversity discourses at the workplace.     

Constructing the culinary consumer: transformative and reflective processes in Italian cookbooks

This paper explores how culinary texts operate in both performative and transformative senses in relation to wider societal norms of gender and cultural capital. As such, the paper explores changes to the way in which the culinary consumer is presented in British Italian cookbooks from 1954 to 2005. Across the period, we see a shift in the gendered representation of the culinary subject, from a housewife in the period 1954–1974, to a working mother from 1975 to 1986, and most recently as male or female cook from 1987 to 2005. We also see shifts in representation of cultural capital in these same periods from learning new cooking skills, to adapting existing cooking skills to displaying skills in shopping and product selection. In charting these changing discourses, we find that whilst reflecting wider culinary culture, these cookbooks also act in a transformative sense to promote (and indeed require) specific enactments of gender and cultural capital.     

Mapping mountain diversity: Ethnic minorities and land use land cover change in Vietnam's borderlands

In the complex agro-ecological conditions of Vietnam's northern borderlands, attempts by ethnic minority farmers to create sustainable livelihoods, along with the impacts of state development policies, have direct consequences for land use and land cover (LULC) change. In this paper we analyse the degree to which LULC has changed and diversified from 1999 to 2009 in Lào Cai Province and the underlying relationships with ethnic minority livelihood diversification strategies. We examine the correlation between LULC diversity and various socioeconomic and biophysical proxies using a spatial autoregressive model. Our findings indicate two major changes in LULC: an increase in closed canopy forest and substantial urban growth. LULC diversity increased between 1999 and 2009, suggesting a transition between land uses and/or a diversification of livelihood strategies. Socioeconomic proxies are significant predictors of LULC diversity in both years, while biophysical proxies are only effective predictors in 2009. In-depth interviews regarding state-led policies and ethnic minority livelihoods reveal some of the underlying mechanisms of such LULC transitions and associations.     

教育本该不一样

教育本该不一样，因材施教、有教无类，说的就是不同。教育不从根本上由“批发”改为“零售”，我们就培养不出创新人才、杰出人才，甚至于培养不出我们常说的有用人才。为了培养创新人才，教育内容要力求全面，教育目标要力求明确，教育的方法要务求得当。     

Income Taxation and the Diversity of Consumer Goods: A Political Economy Approach*

After‐tax income inequality has risen since the mid‐1990s, as increases in market income inequality have not been offset by greater fiscal redistribution. We argue that the substantial increase in the diversity of consumer goods has mitigated mounting political pressures for redistribution. Within a probabilistic voting framework, we demonstrate that if the share of diversified goods in the consumption bundle increases sufficiently with income, then an increase in goods diversity can reduce the political equilibrium tax rate. Focusing on OECD countries, we find empirical support for both the model's micro‐political foundations and the implied relation between goods diversity and fiscal policy outcomes.     

WHICH AGGLOMERATION EXTERNALITIES MATTER MOST AND WHY?

This paper revisits the ongoing discussion on the importance of agglomeration externalities – specifically specialization, diversity and competition effects – that may contribute to innovation, productivity and urban employment growth. Previous meta‐analyses suggested that the evidence on agglomeration externalities is strongly context‐specific. Expanding an earlier analysis of 31 articles, we seek to draw in this paper more robust conclusions by means of the statistical evidence for agglomeration externalities presented in 73 scientific articles, all building on the seminal work of Glaeser et al. (1992). Our results confirm that the heterogeneity among studies is huge and can only be partially accounted for by means of an ordered probit analysis. Additionally, some evidence of publication bias is found. We conclude that the conventional lines of inquiry in this literature may now have reached strongly diminishing returns. New lines of inquiry, using rich micro‐level data on firms and workers, dynamic general equilibrium models at the macro level, more attention for spatial and temporal variation in the impacts of agglomeration, and further investigations into the spatial scope of externalities are promising avenues for further research that can enhance our understanding of how agglomeration externalities continue to fuel our increasingly urbanized world.     

The impact of partner diversity within multiparty international joint ventures

Despite the significant role that multiparty international joint ventures (MPIJVs) play within multinational enterprises, we know little about the significant challenges associated with the management of these ventures. Therefore, we combine the Resource-based View of the Firm and Transaction Cost Economics to investigate the effects of the key aspects of partner diversity (i.e., variety, balance, and disparity) on MPIJV dissolution. We test our hypotheses using a dataset of 248 MPIJVs in China. We find empirical support for a U-curve shaped effect of variety and a negative linear effect of balance on MPIJV dissolution.