Michael O’Neill, Jie (Felix) Sun, Geoffrey Warren and Min Zhu
We model the relation between excess returns, fund size and industry size for active equity funds.
Abstract
Purpose
We model the relation between excess returns, fund size and industry size for active equity funds.
Design/methodology/approach
We study and contrast four markets – global equities, emerging markets, Australia core and Australia small caps – and use the results to investigate the extent to which funds deviate from estimated capacity.
Findings
We uncover a significantly negative relation between returns and both fund size and industry size across all markets. The estimated percentage of funds operating above versus below capacity varies both across markets and over time, as does the role played by fund size versus industry size. We find a greater prevalence of funds operating significantly below than above capacity, in contrast to findings for US equity mutual funds. Significant deviations from estimated capacity persist for a median of between two and six quarters.
Originality/value
Our main contribution is to show that the dynamics governing deviations from capacity for active equity funds vary across markets.
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Ehsan Namaziandost, Tahereh Heydarnejad, Parisa Ashkani and Sajjad Farokhipour
Psychological well-being is a central aspect of mental health, and it can be defined as the presence of enjoyment and fulfillment, as well as resilience. Different factors are…
Abstract
Purpose
Psychological well-being is a central aspect of mental health, and it can be defined as the presence of enjoyment and fulfillment, as well as resilience. Different factors are critical in the tone and melody of language teachers’ psychological well-being. Cognitive emotion regulation (CER) pertains to the intentional cognitive strategies employed by educators in order to regulate and confront emotionally taxing content.
Design/methodology/approach
A quasi-experimental strategy was used in the present experimental analysis. A total of 87 EFL students were split into two groups: one to participate in the experiment and another to serve as a control. The control group of students got regular teaching without any changes or additions to their books.
Findings
Path analysis results demonstrated that cognitive emotion regulation and reflective teaching were able to accurately forecast the teachers' psychological well-being at the institution.
Practical implications
The study's results suggest that it is essential for teachers, including language instructors, to undergo training in cognitive emotion regulation and reflective teaching in order to ensure their psychological well-being.
Originality/value
To achieve an optimal level of CER, educators must be equipped with a repertoire of effective strategies to promote the necessary equilibrium. Reflective teaching encompasses the critical analysis of an educator's fundamental convictions about pedagogy and the acquisition of knowledge, as well as the evaluation of their teaching process. To date, no study reflects on the possible connections between these variables in a single study. In light of this, the focus of this study was to discover how reflective teaching and cognitive emotion regulation affect the psychological health of English as a foreign language (EFL) university professors.
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This study aims to explore the intersection of English and education through a systematic review of academic literature. It focuses on identifying key research themes and future…
Abstract
Purpose
This study aims to explore the intersection of English and education through a systematic review of academic literature. It focuses on identifying key research themes and future research areas, particularly in sustainable teaching and learning practices within the field of English education.
Design/methodology/approach
This study analyzed 84 papers published between May 2000 and May 2024 using a bibliometric approach. Keyword co-occurrence analysis was used to identify clusters of research themes. These clusters helped in categorizing research areas and provided a systematic overview of the current literature in English education.
Findings
This study identified four distinct research clusters that represent core themes in English education research. These themes informed the development of a research agenda focusing on areas that require further exploration, particularly in sustainable teaching and learning practices. This study also examined the theoretical and practical implications of these themes.
Practical implications
The findings provide educators and policymakers with a framework to prioritize research efforts, allocate resources and develop strategies to enhance sustainable teaching and learning practices in English education.
Social implications
By emphasizing the importance of sustainability in teaching and learning, this study promotes educational practices that contribute to long-term improvements in both student outcomes and teacher development. It identifies opportunities for sustainable growth in English education that benefit diverse learners.
Originality/value
To the best of the author’s knowledge, this is the first study to apply a bibliometric approach to systematically review the intersection of English and education. By identifying core research clusters and creating a research agenda, this study contributes new insights into sustainable practices in English education.
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Carol Springer Sargent, Bhanu Balasubramnian, Blake D. Bowler and Charles Asa Lambert
Around the globe, low retirement savings threaten the economic well-being of large portions of the population. To better understand what promotes retirement sufficiency, we…
Abstract
Purpose
Around the globe, low retirement savings threaten the economic well-being of large portions of the population. To better understand what promotes retirement sufficiency, we investigate variables that correlate with retirement savings behaviors.
Design/methodology/approach
Using the 2021 National Financial Capability Study data, we examine factors correlated with having a retirement plan, contributing to a retirement plan and avoiding the depletion of retirement savings.
Findings
While strong financial behavior and actual financial literacy are each connected to retirement plan participation, the link attributed to strong financial behavior is nearly twice as strong as that for actual financial literacy. Strong financial behavior correlates strongly with leaving retirement savings in place. Having a financial literacy blind spot (i.e. not knowing that one does not know about financial literacy) correlates strongly with retirement savings depletion. Financial anxiety does not correlate with retirement plan participation or depletion.
Originality/value
Our measure of strong financial behavior explains much more variation in retirement savings than variables commonly explored in the retirement literature. Individuals facing income constraints without a financial literacy blind spot are less likely to deplete their retirement savings. Conversely, those with a financial literacy blind spot tend to deplete their retirement savings regardless of their financial vulnerability or strength. Our findings hold even when restricting the sample to households with incomes below the median ($75,000), as well as above the median, indicating that policies targeting non-income variables could enhance retirement outcomes.
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Chithra V.P., Balaji Bakthavatchalam, Jayakumar J.S., Khairul Habib and Sambhaji Kashinath Kusekar
This paper aims to present a comprehensive analysis of conjugate heat transfer phenomena occurring within the developing region of square ducts under both isothermal and isoflux…
Abstract
Purpose
This paper aims to present a comprehensive analysis of conjugate heat transfer phenomena occurring within the developing region of square ducts under both isothermal and isoflux boundary conditions. The study involves a rigorous numerical investigation, using advanced computational methods to simulate the complex heat exchange interactions between solid structures and surrounding fluid flows. The results of this analysis provide valuable insights into the heat transfer characteristics of such systems and contribute to a deeper understanding of fluid–thermal interactions in duct flows.
Design/methodology/approach
The manuscript outlines a detailed numerical methodology, combining computational fluid dynamics and finite element analysis, to accurately model the conjugate heat transfer process. This approach ensures both the thermal behaviour of the solid walls and the fluid flow dynamics are well captured.
Findings
The results presented in the manuscript reveal significant variations in heat transfer characteristics for isothermal and isoflux boundary conditions. These findings have implications for optimizing heat exchangers and enhancing thermal performance in various engineering applications.
Practical implications
The insights gained from this study have the potential to influence the design and optimization of heat exchange systems, contributing to advancements in energy efficiency and engineering practices.
Originality/value
The research introduces a novel approach to study conjugate heat transfer in square ducts, particularly focusing on the developing region. This unique perspective offers fresh insights into heat transfer mechanisms that were previously not thoroughly explored.
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Javad Rajabalizadeh and Hannu Schadewitz
This study investigates the impact of audit reports’ readability on informational efficiency within the Tehran Stock Exchange (TSE), emphasizing challenges in an emerging market…
Abstract
Purpose
This study investigates the impact of audit reports’ readability on informational efficiency within the Tehran Stock Exchange (TSE), emphasizing challenges in an emerging market context characterized by voluntary IFRS adoption and the absence of Big 4 audit firms.
Design/methodology/approach
By utilizing hand-collected data from TSE-listed companies, covering 1,097 firm-year observations from 2012 to 2023, readability is assessed using three well-established indexes (Fog, Flesch–Kincaid and Simple Measure of Gobbledygook). Informational efficiency is evaluated by analyzing how stock prices align with a random walk pattern, with additional control variables including governance factors, auditor characteristics and firm-specific indicators to enhance model robustness.
Findings
The findings indicate a positive association between audit report readability and informational efficiency, suggesting that clearer and more readable audit reports help reduce information asymmetry. Control variables such as board independence and auditor tenure showed significant impacts, supporting the conclusion that governance and auditor-specific factors enhanced informational efficiency. Agency and institutional theories are used to contextualize these findings, especially within TSE’s unique regulatory environment. The study addresses endogeneity with firm fixed effects and sample selection bias through Heckman’s two-stage procedure. The absence of Big 4 auditors in Iran prompted controls for auditor size effects, supporting our findings across different audit market segments.
Research limitations/implications
Limitations include potential omitted variable bias and challenges in generalizing findings beyond the TSE. Despite applying firm fixed effects and Heckman’s two-stage procedure to control for endogeneity, some residual biases may remain.
Practical implications
For regulators, auditors and investors, these findings underscore the value of promoting readability in audit reports to improve informational efficiency, particularly in emerging markets with evolving regulatory standards.
Originality/value
By focusing on audit report readability within an emerging market lacking Big 4 presence, this study offers unique insights into how readability can foster transparency and investor confidence in regions with distinct market dynamics.
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Salome Oyuga, Edward Godfrey Ochieng and Geoffrey Ngene
This paper investigates the moderating influence of cultural values on the relationship between governance and risk in large-scale infrastructure development projects. It…
Abstract
Purpose
This paper investigates the moderating influence of cultural values on the relationship between governance and risk in large-scale infrastructure development projects. It integrates cultural psychology theory into interactive governance theory as a moderator of managerial perceptions of external debt as an effective rule-based risk management framework for these projects.
Design/methodology/approach
Mixed method integrating quantitative analysis with qualitative insights based on a survey of managerial perceptions in large-scale renewable energy, road and rail projects in Kenya and linear regression was used to test the hypothesis.
Findings
Managerial perceptions of country risk, project-specific external debt structure, carbon risk and cultural values significantly influenced their infrastructure risk perceptions. Demographic factors such as gender, years of experience, project tenure, board membership and socio-economic settings moderately influenced these risk perceptions. With 597 responses, the study expands on interactive governance theory by showing that cultural values and certain demographic attributes among managers moderate their view of external debt as an effective rule-based risk management framework for large infrastructure projects.
Practical implications
Cultural values must be appraised when tailoring governance incentives to bolster managerial productivity and performance in mitigating risks in collaborative infrastructure projects.
Originality/value
This paper supports the hypothesis that cultural values moderate the interaction between governance and risk when the historical context incentivises managers to select defensive social learning techniques such as herding to avoid reputational performance risks in collaborative infrastructure projects.
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Abhishek Das and Mihir Narayan Mohanty
In time and accurate detection of cancer can save the life of the person affected. According to the World Health Organization (WHO), breast cancer occupies the most frequent…
Abstract
Purpose
In time and accurate detection of cancer can save the life of the person affected. According to the World Health Organization (WHO), breast cancer occupies the most frequent incidence among all the cancers whereas breast cancer takes fifth place in the case of mortality numbers. Out of many image processing techniques, certain works have focused on convolutional neural networks (CNNs) for processing these images. However, deep learning models are to be explored well.
Design/methodology/approach
In this work, multivariate statistics-based kernel principal component analysis (KPCA) is used for essential features. KPCA is simultaneously helpful for denoising the data. These features are processed through a heterogeneous ensemble model that consists of three base models. The base models comprise recurrent neural network (RNN), long short-term memory (LSTM) and gated recurrent unit (GRU). The outcomes of these base learners are fed to fuzzy adaptive resonance theory mapping (ARTMAP) model for decision making as the nodes are added to the F_2ˆa layer if the winning criteria are fulfilled that makes the ARTMAP model more robust.
Findings
The proposed model is verified using breast histopathology image dataset publicly available at Kaggle. The model provides 99.36% training accuracy and 98.72% validation accuracy. The proposed model utilizes data processing in all aspects, i.e. image denoising to reduce the data redundancy, training by ensemble learning to provide higher results than that of single models. The final classification by a fuzzy ARTMAP model that controls the number of nodes depending upon the performance makes robust accurate classification.
Research limitations/implications
Research in the field of medical applications is an ongoing method. More advanced algorithms are being developed for better classification. Still, the scope is there to design the models in terms of better performance, practicability and cost efficiency in the future. Also, the ensemble models may be chosen with different combinations and characteristics. Only signal instead of images may be verified for this proposed model. Experimental analysis shows the improved performance of the proposed model. This method needs to be verified using practical models. Also, the practical implementation will be carried out for its real-time performance and cost efficiency.
Originality/value
The proposed model is utilized for denoising and to reduce the data redundancy so that the feature selection is done using KPCA. Training and classification are performed using heterogeneous ensemble model designed using RNN, LSTM and GRU as base classifiers to provide higher results than that of single models. Use of adaptive fuzzy mapping model makes the final classification accurate. The effectiveness of combining these methods to a single model is analyzed in this work.
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The purpose of this umbrella review is to synthesise existing evidence on the effectiveness and implementation of peer support in substance use settings, providing insights into…
Abstract
Purpose
The purpose of this umbrella review is to synthesise existing evidence on the effectiveness and implementation of peer support in substance use settings, providing insights into its benefits, challenges and implications for practice and research.
Design/methodology/approach
The preferred reporting items for systematic reviews and meta-analyses were used to guide an umbrella review. Three databases were searched: Academic Search Complete, Scopus and the Web of Science, supplemented with bibliography searches. Articles were included if they were peer reviewed in the English language from inception to 2024 and reported on peer support in substance use contexts. The Joanne Briggs Institute Critical Appraisal Checklist for Systematic Reviews and Research Syntheses was used to assess the quality of the included reviews. Findings are reported using a narrative synthesis.
Findings
The search yielded 4,062 articles, of which 8 systematic reviews were included, encompassing 177 (N = 177) primary studies with a combined sample size of 38,659 (N = 38,659) participants. Peer support in substance use settings was linked to improved outcomes, including reduced substance use severity, enhanced treatment engagement and better social supports. Challenges identified included inconsistent training, role definitions and organisational barriers, such as stigmatising attitudes and limited structural support. Most reviews used a narrative synthesis to report results, with no meta-analyses. Critical appraisal categorised the reviews as 25% high quality, 25% moderate quality, 25% low quality and 25% critically low quality. The findings further highlighted the need for clearer implementation strategies, standardised training and recovery-oriented care models to optimise peer support effectiveness. In addition, the role of the randomised control trial as a method for evaluating peer support is considered.
Originality/value
This umbrella review uniquely synthesises evidence from diverse systematic reviews on peer support in substance use settings, highlighting the multidimensional benefits and challenges while addressing critical gaps in implementation strategies and methodological approaches. It offers a novel perspective on optimising peer roles within recovery-oriented care models.
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UNESCO’s ESD for 2030 Agenda places interdisciplinarity at the top of the three interrelated strategies for higher education contributions. However, more needs to be known about…
Abstract
Purpose
UNESCO’s ESD for 2030 Agenda places interdisciplinarity at the top of the three interrelated strategies for higher education contributions. However, more needs to be known about interdisciplinarity from a learning perspective, especially its measured relationship with learning outcomes. Does interdisciplinarity improve or hinder learning outcomes? What specific learning outcomes are more sensitive to interdisciplinarity? If a university prides itself on interdisciplinary teaching and learning, how is it fulfilled based on its curriculum? This study aims to focus on an intentionally interdisciplinary undergraduate curriculum at a Chinese university to answer these questions.
Design/methodology/approach
This study adopts a concept of interdisciplinary mobility to observe the extent to which undergraduate students would intentionally navigate across academic divisions at key curricular checkpoints. It then adopts student self-reporting on a set of institutional learning outcomes, aligned with AAC&U’s VALUE framework, to examine the correlations between the mobility patterns and the self-reported outcomes. Finally, it uses the qualitative self-reported data to deepen alignment between the institutional learning outcomes and the VALUE framework.
Findings
The study finds that students demonstrate distinctive patterns of interdisciplinary mobility when they intentionally navigate across academic divisions at key curricular checkpoints. Students make these decisions, which allow them to become interdisciplinarily wider, narrower or as is. Some of these mobility patterns show significantly positive or negative correlations with the self-reported outcomes, e.g. research capabilities. One mobility pattern demonstrates particularly higher self-reported outcomes.
Originality/value
This study introduces a concept of interdisciplinary mobility, which could inspire creative use of curricular checkpoints and therefore allow examining interdisciplinarity vertically vis-à-vis horizontally.