Productivity in services twenty years on. A review of conceptual and measurement issues and a way forward

Griliches' seminal contribution on "Output measurement in the service sectors" (1992) is now more than twenty years old. The aim of this paper is to review and systematise the scholarship that has been produced since, to identify any step forward in the conceptualisation of service output, the measurement of service productivity and the account of technical change in affecting productivity in services that might have occurred. An agenda for both innovation and service scholars is proposed

Understanding the nature and etiology of intimate partner violence and

Theoretical perspectives underlying hypotheses about the nature and etiology of intimate partner violence are important as they inform professionals how they should best respond to reduce or eliminate this social problem. Therefore, it is crucial that practice led initiatives are driven by theory that is supported by good quality empirical evidence. This review aims to provide a synthesis of methodologically sound research to understand how intimate partner violence is best conceptualized, and what the implications of this evidence based theory hold for practice and policy. A wealth of evidence supporting the need to further explore and respond to the spectrum of partner violence from a gender inclusive perspective is demonstrated. Implications of the evidence for multidisciplinary work, prevention, assessment, treatment, and policy related to intimate partner violence are discussed

Assessing the overall perceived quality of the undergraduate students

Purpose - The paper is twofold aimed: (i) defining and validating a scale to assess the quality of the university experienced by students and (ii) analyzing the role of the aforementioned di- mensions and their impact on students’ satisfaction. Methodology/Approach - A survey of 2,557 undergraduate students that finished their degrees in 2013 at universities located in the region of Catalonia has been analyzed using Structural Equation Modeling (SEM). An exploratory analysis suggests the final dimensions that were confirmed in a confirmatory analysis. The psychometric characteristics of the scale are provided to show reliability and validity of the constructs. An extra model (also using SEM) assesses the impact of these dimensions on overall satisfac- tion. Findings - The quality is a multifactor construct composed by: (i) “syllabus”, which refers to the quality of the learning methods and the coordination efforts through the whole study period; (ii) “skills development”, referring to the skills that students might acquire along their studies and (iii) “services and facilities” of the university. Moreover, the first and third factors act as “enablers” for the second factor one. Nevertheless, only “Syllabus” dimension affects significantly on students’ satisfaction, whereas “services and facilities” do not have a significant role, although they are necessary in order to provide a good service. Research Limitation/implication - Although the sample is large enough to draw robust re- sults, it is limited the Catalonia. The paper provides recommendations for university managers and public administration authorities in order to allocate the available resources. Originality/Value of paper - In an era of global competition, universities are trying to adapt to these new requirements by expanding they academic offer, introducing innovative teaching methods, providing teaching resources to lecturers, and updating the general services of the university among others. All these services will be considered when students evaluate their experience at the university. The paper contributes with an assessment scale for the holistic service provided by the university within the period that the student is in the university. These findings can be applied to help define attractive academic programs and provide useful insights on how the supporting facilities should be designed to allow students take advantage of their learning process at universities.Postprint (published version

Scope for Credit Risk Diversification

This paper considers a simple model of credit risk and derives the limit distribution of losses under different assumptions regarding the structure of systematic risk and the nature of exposure or firm heterogeneity. We derive fat-tailed correlated loss distributions arising from Gaussian risk factors and explore the potential for risk diversification. Where possible the results are generalised to non-Gaussian distributions. The theoretical results indicate that if the firm parameters are heterogeneous but come from a common distribution, for sufficiently large portfolios there is no scope for further risk reduction through active portfolio management. However, if the firm parameters come from different distributions, then further risk reduction is possible by changing the portfolio weights. In either case, neglecting parameter heterogeneity can lead to underestimation of expected losses. But, once expected losses are controlled for, neglecting parameter heterogeneity can lead to overestimation of risk, whether measured by unexpected loss or value-at-risk

A unifying approach to the empirical evaluation of asset pricing models

Two main approaches are commonly used to empirically evaluate linear factor pricing models: regression and SDF methods, with centred and uncentred versions of the latter. We show that unlike standard two-step or iterated GMM procedures, single-step estimators such as continuously updated GMM yield numerically identical values for prices of risk, pricing errors, Jensen’s alphas and overidentifying restrictions tests irrespective of the model validity. Therefore, there is arguably a single approach regardless of the factors being traded or not, or the use of excess or gross returns. We illustrate our results by revisiting Lustig and Verdelhan’s (2007) empirical analysis of currency returns.CU-GMM, Factor pricing models, Forward premium puzzle, Generalised Empirical Likelihood, Stochastic discount factor.

Value-at-Risk and Expected Shortfall for Linear Portfolios with elliptically distributed RisK Factors

In this paper, we generalize the parametric Delta-VaR method from portfolios with normally distributed risk factors to portfolios with elliptically distributed ones. We treat both expected shortfall and the Value-at-Risk of such portfolios. Special attention is given to the particular case of a multivariate t-distribution.Delta Elliptic VaR, Delta Elliptic ES, Delta Student VaR, Delta Student ES

Full range leadership in the university classroom : a Hong Kong study

This article describes a Hong Kong study that examined the effects of full range leadership in the university classroom. The full range (transformational-transactional) leadership model was chosen because research has indicated that a positive association exists between transformational leadership and various desirable leadership outcomes. It was hypothesized that university instructors adopting a transformational classroom leadership style would generate positive classroom leadership outcomes and that these positive outcomes would be confirmed by positive student evaluation of teaching (SET) scores for the instructors concerned. Through the development and testing of an instrument for measuring full range leadership in the university classroom, it was noted that employment of transformational aspects of full range classroom leadership was significantly and positively associated with desirable classroom leadership outcomes. Furthermore, there was sufficient indication of an association of positive leadership outcomes with positive instructor SET scores to merit further investigation of the relationship

Is the Test Score Decline Responsible for the Productivity Growth Decline?

[Excerpt] The test score decline between 1967 and 1980 was large (about 1.25 grade-level equivalents) and historically unprecedented. New estimates of trend in academic achievement, of the effect of academic achievement on productivity and of trend in the quality of the work force are developed. They imply that if test scores had continued to grow after 1967 at the rate that prevailed in the previous quarter century, labor quality would now be 2.9 percent higher and 1987 GNP $86 billion higher

Leadership Styles of Clinical Coordinators and Clinical Instructors in Physical Therapy Clinical Education

The APTA has identified the roles of the CCCE and CI as leaders in physical therapy clinical education. In the literature there appears to be an absence of studies examining the CCCE and CI leadership style and its impact on the preparation for clinical instruction, extra effort, job satisfaction and effectiveness of quality clinical education. The purpose of this study was to examine the leadership styles of CIs and CCCEs and to discern if there was a correlation between CI’s and CCCE’s perceptions of leadership style and perceptions of leadership effectiveness based upon three leadership outcomes. The second purpose of this study was to assess the influence of background demographic factors and leadership behaviors. The sample consisted of 58 CCCEs and 19 CIs. Subjects completed the Multifactor Leadership Questionnaire Form-5X created by Bass and Avolio, which measured Transformational, Transactional and Laissez –faire leadership behaviors and leadership outcomes of effectiveness, extra effort and satisfaction. Additionally, the subjects completed the Clinical Educator Profile, which measured personal attributes and clinical education program information. Descriptive statistics, Regression analysis, and Pearson correlation were used to analyze the data. The results suggest a positive correlation that CCCEs and CIs perceive themselves as implementing Transformational leadership behaviors and to a lesser extent Transactional leadership behaviors and leadership outcomes. CCCE results revealed that a significant positive relationship (p \u3c .01) existed between the three leadership outcomes of extra effort, effectiveness, and satisfaction and Transformational leadership style. CI results revealed that a positive relationship (p \u3c .01) existed between the three leadership outcomes of extra effort, effectiveness, and satisfaction and Transformational leadership style. The CI results also support that a positive relationship (p \u3c .01 and p \u3c .05) exists between the three leadership outcomes of extra effort, effectiveness, and satisfaction and Transactional leadership style. A significant positive relationship (p \u3c .01) between CCCE demographic factors and Transformational leadership behaviors was also noted. Lastly, a significant positive relationship (p \u3c .01 and p\u3c .05) was found for CI demographic factors and several Transformational and Transactional behaviors