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The purpose of this paper is to test the impact of corporate social responsibility (CSR) in the banking industry using Troubled Asset Relief Program (TARP) as an experimental backdrop.

The authors match banks that received TARP with CSR data on publicly available firms. Using this data set, the authors are able to perform both univariate and multivariate analyses to determine the impact of CSR on bank management behavior.

The authors find evidence that supports stakeholder theory as applied to a sample of large financial institutions. The authors show that banks increased their CSR involvement and intensity following TARP, evidence that CSR is not merely transitory in nature but structural and an important aspect of firm value. The authors also find that capital ratios increase to a greater degree in banks whose CSR ratings were stronger prior to TARP. Finally, while all banks in the sample repaid Treasury, it took strong CSR banks a longer time to repay than banks with weaker CSR. The authors show how CEO compensation played a role in this relationship.

The findings are limited to large banks.

Practically speaking, this study helps to discern the motivations and actions of large financial institutions. This is especially important from a regulator perspective, whose function is to maintain overall national financial stability.

This is the first study to link TARP and CSR literatures. Overall, there are a limited number of studies on CSR in the banking industry, and this paper adds to this burgeoning area. It is important and valuable to managers and policymakers to understand implications of CSR in the financial sector.

We begin with a discussion of the psychosocial concepts of ‘personality disorder’ and ‘homelessness’, and then seek to re‐define and re‐locate both from the internal world of the patient/client to the psychosocial ‘dis‐memberment’ associated with what we have called the ‘unhoused mind’. We then explore the complex reciprocal relationship between the ‘ordered’ and the ‘dis‐ordered’, the housed and the unhoused, and consider some possible implications for individual workers, staff teams and organisations tasked with attempting to house and/or to care for and support such people.

Hausman (1978) represented a tectonic shift in inference related to the specification of econometric models. The seminal insight that one could compare two models which were both consistent under the null spawned a test which was both simple and powerful. The so-called ‘Hausman test’ has been applied and extended theoretically in a variety of econometric domains. This paper discusses the basic Hausman test and its development within econometric panel data settings since its publication. We focus on the construction of the Hausman test in a variety of panel data settings, and in particular, the recent adaptation of the Hausman test to semiparametric and nonparametric panel data models. We present simulation experiments which show the value of the Hausman test in a nonparametric setting, focusing primarily on the consequences of parametric model misspecification for the Hausman test procedure. A formal application of the Hausman test is also given focusing on testing between fixed and random effects within a panel data model of gasoline demand.

It is known that model averaging estimators are useful when there is uncertainty governing which covariates should enter the model. We argue that in applied research there is also uncertainty as to which method one should deploy, prompting model averaging over user-defined choices. Specifically, we propose, and detail, a nonparametric regression estimator averaged over choice of kernel, bandwidth selection mechanism and local-polynomial order. Simulations and an empirical application are provided to highlight the potential benefits of the method.

Economic conditions such as convexity, homogeneity, homotheticity, and monotonicity are all important assumptions or consequences of assumptions of economic functionals to be estimated. Recent research has seen a renewed interest in imposing constraints in nonparametric regression. We survey the available methods in the literature, discuss the challenges that present themselves when empirically implementing these methods, and extend an existing method to handle general nonlinear constraints. A heuristic discussion on the empirical implementation for methods that use sequential quadratic programming is provided for the reader, and simulated and empirical evidence on the distinction between constrained and unconstrained nonparametric regression surfaces is covered.

Identification and inference are central to applied analysis, and two papers examine these issues, the first being theoretical in nature and the second being simulation based.

This is a selective annotated bibliography of the literature on Christopher Columbus from 1970 to 1989. The subject is particularly relevant considering the approach of the Quincentenary of the “discovery” of America in 1992. For that same reason, there has been an outpouring of literature on the subject since 1990, a significant subset of which contributes to are interpretation of Columbus the man, his voyages, and their impact on the new world. It is hoped that this more recent literature will be part of a subsequent annotated bibliography.

One of the main features of the reform of the Mental Health Act 2007 was the introduction of community treatment orders (CTOs). CTOs represent a fundamental shift in the rights of people with severe mental health problems, who have been detained in hospital under section 3 of the Mental Health Act and subsequently discharged. The call for the introduction of CTOs or similar legislation has been a feature of mental health policy over the past 20 years. Despite the detailed discussion of the relationship between ethnicity and psychiatry, there has been very little attention paid to the way that race was a factor in the community care scandals of the 1990s. This article, through the consideration of two very high profile cases ‐ Christopher Clunis and Ben Silcock, explores the media's influence on the construction of the debate in this area. In particular, it explores the way that the media reporting of the two cases had a role in not only perpetuating racial stereotyping, but also the stigmatising of those experiencing acute mental health problems. In addition, with the use of government papers obtained under the Freedom of Information Act, it considers the response to and the attempts to influence the media debate at that time.