The objective of this paper is to explore the sensitivity of industry‐specific stock returns to monetary policy and macroeconomic news. The paper looks at a range of…
Abstract
Purpose
The objective of this paper is to explore the sensitivity of industry‐specific stock returns to monetary policy and macroeconomic news. The paper looks at a range of industry‐specific South African stock market indices and evaluates the sensitivity of these indices to various unanticipated macroeconomic shocks.
Design/methodology/approach
The authors begin with an event study, which examines the immediate impact of macroeconomic shocks on the stock market indices, and then use a Bayesian vector autoregressive (BVAR) analysis, which provides insight into the dynamic effects of the shocks on the stock market indices, by allowing them to treat the shocks as exogenous through appropriate setting of priors defining the mean and variance of the parameters in the VAR.
Findings
The results from the event study indicate that with the exception of the gold mining index, where the CPI surprise plays a significant role, monetary surprise is the only variable that consistently negatively affects the stock returns significantly, both at the aggregate and sectoral levels. The BVAR model based on monthly data, however, indicates that, in addition to the monetary policy surprises, the CPI and PPI surprises also affect aggregate stock returns significantly. However, the effects of the CPI and PPI surprises are quite small in magnitude and are mainly experienced at shorter horizons immediately after the shock.
Originality/value
To the best of the authors' knowledge, this is the first study conducted on South Africa which analyses the impact of a wide range of unanticipated macroeconomic shocks on stock returns. This paper improves on earlier efforts by using measures of monetary policy, as well as other macroeconomic news, which more cleanly isolates the unanticipated elements of the monetary policy variable and other macroeconomic indicators, in studying the impact of these surprises on stock returns in South Africa.
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Valentina Iemmi, Martin Knapp, Caroline Reid, Catherine Sholl, Monique Ferdinand, Ariane Buescher and Marija Trachtenberg
Positive behavioural support has been considered as a valuable alternative to residential care for children and adolescents with learning disabilities and behaviour that…
Abstract
Purpose
Positive behavioural support has been considered as a valuable alternative to residential care for children and adolescents with learning disabilities and behaviour that challenges. While recent evidence suggests it has a positive impact on behaviour and carer ability to cope, there is little evidence of its economic costs or benefits. The paper aims to discuss this issue.
Design/methodology/approach
An exploratory cross-sectional study was conducted to evaluate the cost of providing positive behavioural support to ten children and adolescents with learning disabilities and behaviour that challenges living in the community in Ealing, West London. Comparison was also made with the cost estimate of possible alternative support packages for children and adolescents with learning disabilities and behaviour that challenges in the UK, as obtained through a Delphi exercise.
Findings
Total cost of services per child was £1,454 per week for young people supported short-term, and £1,402 supported long-term. Children and adolescents were making use of a range of social care, education and health services. Over the full sample, half of the total cost was accounted for by education services. The Delphi exercise estimated the weekly cost of residential-based care as more expensive than the cost of community-based care for children and adolescents with learning disabilities and behaviour that challenges. At the end of the ITSBS, all ten children and adolescents initially at risk of imminent residential placement were living in the community with less service-intensive and less expensive support. This suggests that avoiding residential-based care could reduce costs in the long term.
Originality/value
Positive behavioural support has potential to support people with learning disabilities and behaviour that challenges in the community, leading to potential cost advantages. However, this is a small study and more robust research is needed.
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Monique N. Golden, Paul Singleton, Dakota W. Cintron, Michael Reid and Erik M. Hines
A Legacy Community is a living and learning community supported by broader institutional departments (e.g., student affairs, academic affairs, foundation, and alumni affairs) that…
Abstract
A Legacy Community is a living and learning community supported by broader institutional departments (e.g., student affairs, academic affairs, foundation, and alumni affairs) that dedicate resources, opportunities, and supports intended to: (a) undo legacies of educational disparities that Black/African American males have historically witnessed and (b) build capacity for students engaged in these communities (i.e., Black/African American males) to create and leave positive legacies on their terms. In this qualitative study of Black and African American undergraduate male living and learning community (LLC) participants at a primarily white institution (Legacy House), we investigate the LLC program elements that impact participants' educational and social experiences, and foster pathways for student legacy building. Legacy house participants describe brotherhood, sense of belonging, and leaving a legacy as elements that enable positive student academic and social outcomes, campus involvement, and career readiness.
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Sandra Miles, Tamara Bertrand Jones, Kristal Moore Clemons and Patricia Golay
Research on what leads to or detracts from persistence among Black female students is scant and inconsistent in terms of systematic inquiry. Little is known about these women's…
Abstract
Research on what leads to or detracts from persistence among Black female students is scant and inconsistent in terms of systematic inquiry. Little is known about these women's perspectives on the specific challenges they face that result in either their persistence or departure. Despite the dearth of information, the extant literature on college students can provide some insight. Our understanding of the phenomenon of persistence among Black female students attending PWIs was informed by a conceptual framework incorporating: (a) Social Integration; (b) Student Involvement; and (c) Black Feminist Epistemologies. Together these paradigms help explain the environmental and psychosocial factors that contribute to understanding Black female involvement in college and provide a framework for situating our study in the larger context of the Black female college experience.
Sheila Bennett, Tiffany L. Gallagher, Monique Somma, Rebecca White and Kathy Wlodarczyk
This work explores the effectiveness of an innovative inclusion model that is based on the development and operationalization of the inclusion coach (IC) role in one school…
Abstract
This work explores the effectiveness of an innovative inclusion model that is based on the development and operationalization of the inclusion coach (IC) role in one school district (in Ontario, generally referred to as a ‘board’). This model has implications for school systems that desire a change in practice but may perceive challenges to this change in their local capacity. In this model, internal school district funding and existing structures were reallocated to convert teaching positions into IC positions. This staffing change was designed to support the desegregation of stand-alone special education classes at the elementary and secondary levels within that school district. While significantly decreasing the number of segregated settings, the intervention was not without its challenges. Challenges and successes will be examined through the perspectives of school principals, ICs and classroom teachers. This school district created an effective and sustainable model to promote inclusion, through internal staffing adjustments, and role redefinition. Utilizing a shared focus and support for staff, this school district was successfully able to transition beliefs and practices from segregated special education to full inclusion for students with special education needs.
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Jaap van den Heuvel, Lida Koning, Ad J.J.C. Bogers, Marc Berg and Monique E.M. van Dijen
To describe how The Red Cross Hospital in Beverwijk, The Netherlands implemented an ISO 9000 quality management system throughout the entire organisation, obtained an ISO…
Abstract
Purpose
To describe how The Red Cross Hospital in Beverwijk, The Netherlands implemented an ISO 9000 quality management system throughout the entire organisation, obtained an ISO 9002:1994 and subsequently an ISO 9001:2000 certificate.
Design/methodology/approach
First, a global implementation plan was written concerning the process obtaining in each department. Once improved, each process was subjected to a procedure, and specific protocols effected. On completion the Quality Manual was put together. Quality management was completed by implementing an internal audit system involving 50 co‐workers.
Findings
A number of advantages are found from using ISO. The focus on patients has been re‐established. All processes are identified and subject to continuous improvement. Performance measurements were introduced and give an integrated picture of results. Measurements subsequently lead to improvement of quality of care and to quality system improvements. The documentation system serves the organization's needs without leading to bureaucracy. Positive effects on patient safety could be demonstrated compared with ten other hospitals.
Originality/value
Given the need for adequate quality management tools in health care and the need for demonstrating quality, the positive effects reported in this article show how ISO is expected to become more prevalent in health‐care organisations.
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Malva Daniel Reid, Jyldyz Bekbalaeva, Denise Bedford, Alexeis Garcia-Perez and Dwane Jones
Matthew E. Archibald, Rachel N. Head, Jordan Yakoby and Pamela Behrman
This study examines chronic illness, disability and social inequality within an exposure-vulnerabilities theoretical framework.
Abstract
Purpose
This study examines chronic illness, disability and social inequality within an exposure-vulnerabilities theoretical framework.
Methodology/Approach
Using the National Survey of Drug Use and Health (NSDUH), a preeminent source of national behavioral health estimates of chronic medical illness, stress and disability, for selected sample years 2005–2014, we construct and analyze two foundational hypotheses underlying the exposure-vulnerabilities model: (1) greater exposure to stressors (i.e., chronic medical illness) among racial/ethnic minority populations yields higher levels of serious psychological distress, which in turn increases the likelihood of medical disability; (2) greater vulnerability among minority populations to stressors such as chronic medical illness exacerbates the impact of these conditions on mental health as well as the impact of mental health on medical disability.
Findings
Results of our analyses provided mixed support for the vulnerability (moderator) hypothesis, but not for the exposure (mediation) hypothesis. In the exposure models, while Blacks were more likely than Whites to have a long-term disability, the pathway to disability through chronic illness and serious psychological distress did not emerge. Rather, Whites were more likely than Blacks and Latinx to have a chronic illness and to have experienced severe psychological distress (both of which themselves were related to disability). In the vulnerability models, both Blacks and Latinx with chronic medical illness were more likely than Whites to experience serious psychological distress, although Whites with serious psychological distress were more likely than these groups to have a long-term disability.
Research Limitations
Several possibilities for understanding the failure to uncover an exposure dynamic in the model turn on the potential intersectional effects of age and gender, as well as several other covariates that seem to confound the linkages in the model (e.g., issues of stigma, social support, education).
Originality/Value
This study (1) extends the racial/ethnic disparities in exposure-vulnerability framework by including factors measuring chronic medical illness and disability which: (2) explicitly test exposure and vulnerability hypotheses in minority populations; (3) develop and test the causal linkages in the hypothesized processes, based on innovations in general structural equation models, and lastly; (4) use national population estimates of these conditions which are rarely, if ever, investigated in this kind of causal framework.
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Laura Pritchard-Jones, Monique Mehmi, Mark Eccleston-Turner and Alison Brammer
The purpose of this paper is to present findings from a mixed-methods study on the impact that COVID-19 has had on adult safeguarding. The research sought to explore the…
Abstract
Purpose
The purpose of this paper is to present findings from a mixed-methods study on the impact that COVID-19 has had on adult safeguarding. The research sought to explore the challenges and opportunities presented by COVID-19 to both frontline and non-frontline professionals working in adult safeguarding.
Design/methodology/approach
A mixed-methods project was undertaken comprising a literature review, survey, semi-structured interviews and a small number of freedom of information requests. This paper presents the findings predominantly from the survey and interviews.
Findings
Unsurprisingly, COVID-19 has presented a variety of challenges for professionals working in adult safeguarding. The themes that occurred most often were the day-to-day changes and challenges, relationships across sectors, information and navigating the ethical questions in safeguarding.
Originality/value
To the best of the authors’ knowledge, the findings represent the first focused qualitative mixed-method study aimed at understanding more about the impact the pandemic has had on adult safeguarding through the eyes of those professionals working in that field.
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Monique Penturij-Kloks, Carolina J.P.W. Keijsers, Manon Enting, Simon T. De Gans, Steven Kilroy, Fedde Scheele and Margot Joosen
While prevalence and value of nonclinical hospital workers, like quality or education professionals, increase, their work engagement is understudied. Work engagement of…
Abstract
Purpose
While prevalence and value of nonclinical hospital workers, like quality or education professionals, increase, their work engagement is understudied. Work engagement of nonclinical and clinical hospital workers is critical considering the pressure of major challenges in healthcare. The pandemic was a natural experiment for this.
Design/methodology/approach
We conducted an observational survey study among all nonclinical and clinical hospital workers of the Jeroen Bosch Hospital, the Netherlands. In an employee satisfaction survey, we measured work engagement under acute pressure (just after the first COVID-19 wave in July 2020) and chronic pressure (within the second COVID-19 wave in November 2020) and to what extent psychological demands and co-worker support were related to work engagement.
Findings
For all hospital staff, “average” levels of work engagement were found under acute (response rate 53.9%, mean 3.94(0.81)) and chronic pressure (response rate 34.0%, mean 3.88(0.95)). Under acute pressure, nonclinical hospital workers scored lower on the subcategory dedication than clinical workers (mean 4.28(1.05) vs mean 4.45(0.99), p < 0.001). Under chronic pressure, no differences were found. For both nonclinical and clinical hospital workers, co-worker support was positively related to overall work engagement (beta 0.309 and 0.372). Psychological demands were positively related to work engagement for nonclinical hospital workers (beta 0.130), whereas in clinical hospital workers, psychological demands were negatively related to vigor (beta −0.082).
Practical implications
Hospitals face times of pressure. Fostering co-worker support under pressure may be vital for hospital management.
Originality/value
Work engagement of nonclinical hospital workers is understudied.