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This paper describes the secondment of a health professional to the care management team to assess the efficacy and cost‐effectiveness of out‐of‐borough placements for individuals who present challenging behaviour. Lambeth Partnership agreed that dedicated psychologyl challenging needs time of a practitioner with more than 10 years' experience in the borough would be available to the care management team, creating collaborative working and enhancing the existing service. To assess the quality of services, a questionnaire was developed that covered demographics, types of service provision and intervention package employed (including monitoring and outcome measures), implementation of person centred‐planning (PCP) and the views of the key stakeholders. This paper summarises the findings of five months of assessing the quality of service provision for people with challenging needs placed out of the London Borough of Lambeth.

The purpose of this study is to investigate the value investors place on S&P index additions relative to uncertainty surrounding the firm and the market. Investors look for reassuring signals or tell-tale signs around uncertainty.

Variation in the market response to announcements of S&P additions to the 400, 500 and 600 indices is examined against measures of risk factors. Internal risk factors include firm size relative to the index, total firm risk and liquidity, and whether the firm is a brand new index entrant. External risk factors related to market uncertainty are measured by the Chicago Board of Exchange volatility index.

Firms with lower market capitalization relative to the index, higher total risk, lower trading volume and first-time entrants to any S&P index elicit a positive market reaction compared to firms with less pricing uncertainty. In times of increased market uncertainty, investors tend to place more value on signals from respected institutions such as S&P, and riskier firms benefit more from inclusion in the S&P index. Overall, this study finds that the market overreaction is explained by the degree of uncertainty surrounding the added firms, as well as by the degree of market uncertainty at the time of the announcement.

The findings of this study suggest that investors interpret the prospect of S&P index addition as an opportunity for firms to reduce uncertainty surrounding them, and thus partially hedge their exposure to market uncertainty by joining an index tracked by dozens of index funds. The value of such a hedging strategy rises for riskier firms during market turbulence.

This study examines the connections between subculture theory, symbolic interaction and the work of David Matza with a special focus on exploring alcohol consumption by young adults in the UK. We apply Matza ideas of the “techniques of neutralization,” “subterranean values,” and “drift” within an ethnographic study on alcohol to suggest that young people's “calculated hedonism” can be understood as a strategy of agency in the context of a subcultural setting. This article adds to the literature of symbolic interaction, subculture and the discipline of sociology by critically focusing on the work of David Matza from its reception in the 1960s to today as a central element of the new paradigm of cultural criminology. For us the sociological imagination is “alive and well” through Matza's advocacy of naturalism whereby he sought to integrate the work Chicago School under Park and Burgess with his assessment of the so-called Neo-Chicago School. In the literature Matza's work is often defined as symbolic interactionist we see his ambition in a wider sense of wanting sociology to recover human struggle and the active creation of meaning. Our approach is to understand the calculated hedonism of young adult use of alcohol through their humanity.

The purpose of this paper is to examine changes in stock returns, liquidity, institutional ownership, analyst following and investor awareness for companies added to and deleted from the Dow Jones Industrial Average (DJIA) index. Previous studies report conflicting evidence regarding the market reactions to changes in the DJIA index membership.

This study uses the event-study methodology to calculate abnormal returns and trading volume around the announcement and effective days of DJIA index changes from 1929 to 2015. It also tests for significant changes in liquidity, institutional ownership, analyst following and investor awareness in the 1990–2015 period. Multivariate regressions are used to perform a simultaneous analysis of competing hypotheses.

This study resolves the mixed results of previous DJIA index papers by documenting different stock price and trading volume reactions over the 1929–2015 period. Focusing on the most recent period, 1990–2015, the study finds that stocks added to (deleted from) the index experience a significant permanent stock price gain (loss). The observed stock price reaction seems to be associated with changes in liquidity proxies thus lending support for the liquidity hypothesis.

Limited data availability for the periods prior to 1990 prevents this study from identifying the exact reasons for different stock price and trading volume reactions across subperiods of the 1929–2015 period.

This study provides the most comprehensive examination of market reactions to changes in the DJIA index and resolves the mixed results of previous studies. A better understanding of market reactions around the DJIA index changes can help both individual and institutional investors with developing effective trading strategies and index managing companies with designing optimal announcement policies.

The purpose of this study is to compare market reactions to the change in the demand by index funds between large and small company stocks by examining the transition of the S&P 500, S&P 400 MidCap and S&P 600 SmallCap indexes from market capitalization to free-float weighting. This unique information-free event allows not only avoiding confounding information signaling and investor awareness effects but also comparing the effect of the decrease in demand on stocks of different sizes.

This study uses the event study methodology to calculate abnormal returns and trading volume around the full-float adjustment day. It also tests for significant changes in institutional ownership and liquidity. Multivariate regressions are used to examine the relation of liquidity changes and price elasticity of demand to the cumulative abnormal returns around the full-float adjustment day.

This study finds significant decreases in stock price accompanied with significant increases in trading volume on the full-float adjustment day, and significant gains in quasi-indexer institutional ownership and liquidity. The main finding is that cumulative abnormal returns around the event period are related to changes in the number of quasi-indexer and transient institutional shareholders, not to changes in liquidity or price elasticity of demand.

This study provides the first comprehensive comparison analysis of stock market reactions to the decline in demand between large and small company stocks. As an important implication for future studies of the index effect, changes in institutional ownership should be considered in the analysis.

The purpose of this paper is to obtain empirical evidence on the impacts of socio-economic and demographic factors on the fertility decisions taken by a common family in developing countries like Pakistan. Also, this study contravenes the conventional orthodoxy of childbirth decisions of a family by enlarging the canvas and conjectures the fundamental nexus amongst female’s education, fertility and contraceptive use.

The study is based on micro-level data, obtained from the Pakistan Demographic and Health Survey (2012-2013) which is the third survey carried out in Pakistan. Demographic and socio-economic profiles of 13,558 ever-married women, aged 15-49 years, were randomly selected from Gilgit Baltistan and the four provinces of Pakistan. Three dependent variables are used in empirical analysis i.e. current use of contraceptives, total fertility and cumulative fertility. In order to estimate the probability of contraceptive use maximum likelihood, Probit technique is employed with ordinary least squares on reduced form specifications of total fertility and cumulative fertility models.

The empirical results proved the hypotheses that educated females practice more family planning through modern contraceptives which leads to a decrease in total fertility rates. Some significant links among females’ education, contraceptive use and fertility define the quantity – quality trade-off and opportunity cost of time. Evidently, female education provides maturity and awareness of family size which is necessary to take crucial economic decisions.

The empirical evidence suggests that maximum efforts should be made toward women’s education. The current standard of education in Pakistan is not enough to overcome the long-standing problem of excessive child birth. This could be done with the help of public – private partnership as the measures taken by the government alone are insufficient. The government should initiate some adequate measures such as education and awareness about contraceptive usage at the secondary school level that could be a vivacious step to support fertility reduction.

The framework used in this study provides a broader intra-household income–expenditure approach. With a smaller family size, the household’s income would be shared among fewer individuals. It is highly probable that parents would be more attentive if they need to look after a few children. That is the best way to progress their children with limited resources.

From the socioeconomic perspectives, educated parents plan the ideal family size which allows them to spend more on their children’s upbringing.

This study captures the magnitude of fertility decisions with the relevance of the wife’s education because the present practice in Pakistan does not allow higher education for married women. This is why this study could be used as a benchmark for further study in the same area.

This study aims to investigate the relationship between stock liquidity, future investment, future investment efficiency and the moderating effect of financial constraints.

To serve the purpose of the study, the data of 178 companies listed on the Tehran Stock Exchange in 2012–2017 were examined. In this research, two Amihud liquidity and stock trading turnover measures were taken for the liquidity. Due to variance heterogeneity, the FGLS test was used. Moreover, a modified multiple regression analysis was used to investigate the moderating role of financial constraints.

The results showed a significant positive relationship between the firm stock liquidity in the current year and the next year investment; the firm stock liquidity (based on the stock trading turnover) in the current year and the next two years’ investment; the firm stock liquidity (based on the trading turnover index) in the current year and the next year investment efficiency; and the firm stock liquidity (based on the stock trading turnover) in the current year and the next two years’ investment efficiency. Moreover, financial constraints negatively moderated the relationship of firm stock liquidity (based on trading turnover index) in the current year and investment in the next year; investment in the next two years; investment efficiency in the next year; and investment efficiency in the next two years.

Given the importance of investment and investment efficiency in emerging markets especially in Asian emerging markets, and because the predicted impacts through financing constraints are usually unclear, this paper attempted to fill the existing gap and be innovative in this regard.

The purpose of this paper is to address the core concept of docility in Simon’s learning theories and elaborate docility as a missing link in organizational performance structures. In his book, Administrative Behavior, first published in 1947 with three subsequent editions, Herbert A. Simon introduced a new concept to the emerging field of organizational theory, docility.

In Administrative Behavior, Herbert A. Simon introduced to management and organization theorists the concept of docility. Simon adopted the concept and meaning from E.C. Tolman’s (1932) classic work, Purposive Behavior in Animals and Men, and his novel views on learning processes and key concepts like purpose (goals), thought processes (cognitive psychology) and cognitive maps. This paper elaborates on docility mechanisms and the implications for social learning in organizations.

This paper addresses this lacuna in the organizational literature, and the implications for current theories of organizations and organizational learning.

Docility is a tool to link individual learning with organizational learning in complex environments and changing technologies.

The paper traces origins of Simon’s docility and learning theories.

William Breit’s brilliant idea was to commission a Nobel Economists Lecture Series at Trinity University that induced recipients to write autobiographical essays on their individual evolution as an economist. This fourth edition presents eighteen such essays. Breit had two intellectual purposes in mind. One objective was to identify common themes in the laureates’ description of their development as economists. The second objective was to use the materials provided in the essays to examine the question of the role of biography in the development of modern economics as a contribution to a theory of scientific discovery.

Much to the relief of everyone, the general election has come and gone and with it the boring television drivel; the result a foregone conclusion. The Labour/Trade Union movement with a severe beating, the worst for half a century, a disaster they have certainly been asking for. Taking a line from the backwoods wisdom of Abraham Lincoln — “You can't fool all the people all the time!” Now, all that most people desire is not to live easy — life is never that and by the nature of things, it cannot be — but to have a reasonably settled, peaceful existence, to work out what they would consider to be their destiny; to be spared the attentions of the planners, the plotters, provocateurs, down to the wilful spoilers and wreckers. They have a right to expect Government protection. We cannot help recalling the memory of a brilliant Saturday, but one of the darkest days of the War, when the earth beneath our feet trembled at the destructive might of fleets of massive bombers overhead, the small silvery Messerschmits weaving above them. Believing all to be lost, we heaped curses on successive Governments which had wrangled over rearmament, especially the “Butter before Guns” brigade, who at the word conscription almost had apoplexy, and left its people exposed to destruction. Now, as then, the question is “Have they learned anything?” With all the countless millions Government costs, its people have the right to claim something for their money, not the least of which is the right to industrial and domestic peace.