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The purpose of this paper is to show how investors can incorporate the multi-scale nature of asset and factor returns into their portfolio decisions and to evaluate the out-of-sample performance of such strategies.

The authors decompose daily return series of common risk factors and of all stocks listed in the Dow Jones Industrial Index (DJI) from 2000 to 2015 into different time scales to separate short-term noise from long-run trends. Then, the authors apply various (multi-scale) factor models to determine variance-covariance matrices which are used for minimum variance portfolio selection. Finally, the portfolios are evaluated by their out-of-sample performance.

The authors find that portfolios which are constructed on variance-covariance matrices stemming from multi-scale factor models outperform portfolio allocations which do not take the multi-scale nature of asset and factor returns into account.

The results of this paper provide evidence that accounting for the multi-scale nature of return distributions in portfolio decisions might be a promising approach from a portfolio performance perspective.

The authors demonstrate how investors can incorporate the multi-scale nature of returns into their portfolio decisions by applying wavelet filter techniques.

Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on work and employment in contemporary organizations. Covers the human resource management implications of organizational responses to globalization. Examines the theoretical, methodological, empirical and comparative issues pertaining to competitiveness and the management of human resources, the impact of organisational strategies and international production on the workplace, the organization of labour markets, human resource development, cultural change in organisations, trade union responses, and trans‐national corporations. Cites many case studies showing how globalization has brought a lot of opportunities together with much change both to the employee and the employer. Considers the threats to existing cultures, structures and systems.

This paper investigates the determinants of the capital structure of large corporations headquartered in the United States and Korea. We consider five explanatory variables: profit, company size, non‐debt tax shields, growth, and business‐risk, along with several industry indicator variables as independent variables and examine, for each country, the relationship to market value based leverage ratio. With our rigid criteria for inclusion in the study, we study the top thirteen companies (by size) in each of seven industries. The majority of our findings indicate that we can generalize to Korea what has been found for Japanese companies/industries relative to the U.S.

This paper features a narrative case study of a leadership team engaged in an effort to transform both culture and instructional practice at an urban charter school. The paper describes the team's effort to align their decision-making with two frameworks selected to anchor the school's institutional change process: restorative justice and deeper learning. Interweaving rich case data with analysis, the paper explores the dilemmas that emerged as leaders struggled to “walk the talk” of these two frameworks, using this to theorize about the synergies between them and to explore the broader leadership challenges involved in transforming schools from authoritarian to humanizing institutions.

The researcher employed an ethnographic approach with the goal of generating a thickly-textured single case study. Data-gathering activities included more than 400 h of participant-observation, in-depth interviewing and artifact collection, conducted over the course of a ten-month academic year. Data analysis was iterative and included frequent member checks with participants.

The paper finds that restorative justice and deeper learning have powerful epistemological connections that school leaders can harness in order to ensure a coherent approach to change processes. The paper also illuminates several of the core dilemmas that school leaders should anticipate facing when embracing these two frameworks: the dilemma of responding to feedback, the dilemma of power-sharing and the dilemma of balancing expectations with support.

The case study approach employed in this paper allows for rich understandings of specific phenomena while also providing a platform for exploring the general qualities that these phenomena might illustrate. This approach does not allow for statistical generalizability.

The paper suggests that it is imperative for school leaders to explore what it means to lead in ways that are coherent with their vision for change, e.g. to cultivate symmetry. Moreover, the paper demonstrates that the value of such explorations lies in the process of grappling with the tensions that arise when humanizing frameworks are implemented within systems that uphold traditional power hierarchies. Additionally, the paper affirms the value of de-siloing the transformation of school culture from the transformation of instructional practice.

This paper offers an unusually textured account of the messy and uncertain processes that constitute the work of school change. This paper also draws together two educational paradigms which are rarely brought into conversation with each other despite their epistemological synergy.

Uses qualitative data to explore how contemporary religious beliefs mark conceptions of work, particularly with regards to the beliefs of conservative protestant women. Compares liberal protestant women and men as well as conservative men against this group. States that conservative women consider motherhood as their most important work yet they are also most likely to feel “called” to their paid work. Cites that this has important implications for the sociological literature on gender and work. Builds on the original work of Max Weber.

Recognizes the inherent conflict between multinationals’ (MNEs’) need to respond to local markets while using global integration to achieve economies of scale; and outlines relevant research from the fields of both economic and organizational theory. Criticizes the process approach based on normative theory and suggests that loose coupling theory is a more practical way of looking at MNEs. Discusses the application of these ideas to their management and identifies seven behavioural characteristics of loosely coupled systems (Weick). Links these to Doz and Prahalad’s (1991) criteria for assessing the applicability of organizational theory to MNEs. Considers the research implications and believes that MNE organization will eventually be seen, not as a special case, but as a general model.

Outlines previous research on the relationship between dividend policy and stock returns; and uses a linear programme and multi‐index model to form an investment strategy to see whether dividend yields increase stock returns. Explains the methodology, tests it on 1965‐1989 US data and presents the results, which suggests that the multi‐index model is superior to the single index market model in terms of explanatory power and volatility; but provides conflicting conclusions on the relevance of dividends to stock returns. Suggests that the negative relationship between dividends and stock returns can be explained by Jensen’s (1986) free cash flow theory and the influence of transaction costs.

Religious pursuits may promote explicitly “spiritual” goods (theo-relational connectedness, character formation, etc.) and “secular” utilities including health. The purpose of this paper is to initiate investigation of this intersection for paternal religious practices in Lithuania’s dynamic post-Soviet social context. Reflecting on religio-political history, the nature of the religious field, spiritual capital, and externalities related to confessional identity, what relationships exist between institutional engagement, devotional practice, education and other predictors in the post-Soviet Lithuanian religious context?

Original data were collected in 2011 (returning 73 of 100 surveys) in Klaipėda, Lithuania. Correlation and χ² identified variables for regression analysis. Given Ordinary Least Squares heteroscedasticity (Breusch-Pagan test), weighted least squares modeling estimated coefficients for extra mural and institutional religious practice generically and differentiated by confessional identity.

Generically and by confessional identity, utility differences in institutional context appear paradoxical to secularization hypotheses. While correlated, institutional engagement and non-institutional devotional practice evidenced non-complementarity regarding educational attainment: greater education predicted higher institutional engagement but sparer devotional life. The authors suggest in explanation higher opportunity costs in individual devotional practice opposite positive offsets from secondary institutional utilities (e.g. social networking). Both were predicted by education, work hours, the non-dependent religious practice variable, self-reported health status, patterned by confessional identity, specifically Protestant opposite majority Catholic. Intergenerationally, a gender gradient was identified.

This analysis illuminates with original data divergent public institutional and private devotional religious practice utility structures in a dynamic transitional post-Soviet context.

Poses the question: what are the consequences of employing a household help on the domestic division of labour? Researches this question by talking to ten couples who employ cleaners. Reports that employing some sort of domestic help has enabled middle‐class women to enter employment in greater numbers than ever before and that it is simply too costly to a family’s economy to have an educated female potential wage‐earner concentrating on unpaid domestic tasks. Refers to a “stalled revolution“, whereby men (theoretically) are carrying out a greater share of domestic tasks but (in actuality) women do not report any great difference. Notes also, that it is increasingly difficult to rely on assistance from relatives. Puts forward reasons for and against the employment of domestic help, as well as four perspectives – the individual perspective, the gender perspective, the general structure of society, and the labour market, and social policy – relating to the consequences of employing a cleaner. Explores “partner‐typology”, determined on a continuum stretching from traditional role‐held beliefs to symmetrical roles for men and women. Concludes that employing domestic help leads to a more equal relationship between the employing couple, that housework is perceived as an increasingly unattractive option, and that new inequalities creep into the gender relationship as it is usually women who perform low‐paid domestic work.