Reframing commitment in authentic leadership: Untangling relationship–outcome processes

Affective organizational commitment is theorized and empirically tested as a key mediator between authentic leadership and desirable employee outcomes. The results of a two-wave survey of 830 business people in Australia support a serial mediation model of authentic leadership efficacy. Followers\u27 perceptions of authentic leadership behavior influence their personal identification and affect-based trust in the leader, which in turn are mediated by affective organizational commitment to positively influence their work engagement and job satisfaction. These findings reinforce previous work that positions personal identification and affect-based trust as the two primary mediating mechanisms of authentic leadership. This paper extends prior research by demonstrating the important role of followers\u27 affective bonds with their organization in the operation of authentic leadership, moving beyond the dyad in our understanding of follower outcomes

Reframing commitment in authentic leadership: Untangling relationship–outcome processes

Affective organizational commitment is theorized and empirically tested as a key mediator between authentic leadership and desirable employee outcomes. The results of a two-wave survey of 830 business people in Australia support a serial mediation model of authentic leadership efficacy. Followers\u27 perceptions of authentic leadership behavior influence their personal identification and affect-based trust in the leader, which in turn are mediated by affective organizational commitment to positively influence their work engagement and job satisfaction. These findings reinforce previous work that positions personal identification and affect-based trust as the two primary mediating mechanisms of authentic leadership. This paper extends prior research by demonstrating the important role of followers\u27 affective bonds with their organization in the operation of authentic leadership, moving beyond the dyad in our understanding of follower outcomes

The Argon Dark Matter Experiment (ArDM)

The ArDM experiment, a 1 ton liquid argon TPC/Calorimeter, is designed for the detection of dark matter particles which can scatter off the spinless argon nuclei. These events producing a recoiling nucleus will be discerned by their light to charge ratio, as well as the time structure of the scintillation light. The experiment is presently under construction and will be commissioned on surface at CERN. Here we describe the detector concept and give a short review on the main detector components.Comment: Proceedings of 4th Patras workshop (DESY) on Axions, Wimps and Wisps (4 pages, 4 figures

Agents Play Mix-game

In mix-game which is an extension of minority game, there are two groups of agents; group1 plays the majority game, but the group2 plays the minority game. This paper studies the change of the average winnings of agents and volatilities vs. the change of mixture of agents in mix-game model. It finds that the correlations between the average winnings of agents and the mean of local volatilities are different with different combinations of agent memory length when the proportion of agents in group 1 increases. This study result suggests that memory length of agents in group1 be smaller than that of agent in group2 when mix-game model is used to simulate the financial markets.Comment: 8 pages, 6 figures, 3 table

Cauchy's formulas for random walks in bounded domains

Cauchy's formula was originally established for random straight paths crossing a body $B \subset \mathbb{R}^{n}$ and basically relates the average chord length through $B$ to the ratio between the volume and the surface of the body itself. The original statement was later extended in the context of transport theory so as to cover the stochastic paths of Pearson random walks with exponentially distributed flight lengths traversing a bounded domain. Some heuristic arguments suggest that Cauchy's formula may also hold true for Pearson random walks with arbitrarily distributed flight lengths. For such a broad class of stochastic processes, we rigorously derive a generalized Cauchy's formula for the average length travelled by the walkers in the body, and show that this quantity depends indeed only on the ratio between the volume and the surface, provided that some constraints are imposed on the entrance step of the walker in $B$. Similar results are obtained also for the average number of collisions performed by the walker in $B$, and an extension to absorbing media is discussed.Comment: 12 pages, 6 figure

A model for correlations in stock markets

We propose a group model for correlations in stock markets. In the group model the markets are composed of several groups, within which the stock price fluctuations are correlated. The spectral properties of empirical correlation matrices reported in [Phys. Rev. Lett. {\bf 83}, 1467 (1999); Phys. Rev. Lett. {\bf 83}, 1471 (1999.)] are well understood from the model. It provides the connection between the spectral properties of the empirical correlation matrix and the structure of correlations in stock markets.Comment: two pages including one EPS file for a figur

Scaling of the distribution of fluctuations of financial market indices

We study the distribution of fluctuations over a time scale $\Delta t$ (i.e., the returns) of the S&P 500 index by analyzing three distinct databases. Database (i) contains approximately 1 million records sampled at 1 min intervals for the 13-year period 1984-1996, database (ii) contains 8686 daily records for the 35-year period 1962-1996, and database (iii) contains 852 monthly records for the 71-year period 1926-1996. We compute the probability distributions of returns over a time scale $\Delta t$, where $\Delta t$ varies approximately over a factor of 10^4 - from 1 min up to more than 1 month. We find that the distributions for $\Delta t \leq$ 4 days (1560 mins) are consistent with a power-law asymptotic behavior, characterized by an exponent $\alpha \approx 3$, well outside the stable L\'evy regime $0 < \alpha < 2$. To test the robustness of the S&P result, we perform a parallel analysis on two other financial market indices. Database (iv) contains 3560 daily records of the NIKKEI index for the 14-year period 1984-97, and database (v) contains 4649 daily records of the Hang-Seng index for the 18-year period 1980-97. We find estimates of $\alpha$ consistent with those describing the distribution of S&P 500 daily-returns. One possible reason for the scaling of these distributions is the long persistence of the autocorrelation function of the volatility. For time scales longer than $(\Delta t)_{\times} \approx 4$ days, our results are consistent with slow convergence to Gaussian behavior.Comment: 12 pages in multicol LaTeX format with 27 postscript figures (Submitted to PRE May 20, 1999). See http://polymer.bu.edu/~amaral/Professional.html for more of our work on this are

Residence time and collision statistics for exponential flights: the rod problem revisited

Many random transport phenomena, such as radiation propagation, chemical/biological species migration, or electron motion, can be described in terms of particles performing {\em exponential flights}. For such processes, we sketch a general approach (based on the Feynman-Kac formalism) that is amenable to explicit expressions for the moments of the number of collisions and the residence time that the walker spends in a given volume as a function of the particle equilibrium distribution. We then illustrate the proposed method in the case of the so-called {\em rod problem} (a 1d system), and discuss the relevance of the obtained results in the context of Monte Carlo estimators.Comment: 9 pages, 8 figure

Stability of surfaces in the chalcopyrite system

It has been observed previously that the stable surfaces in chalcopyrites are the polar 112 surfaces. We present an electron microscopy study of epitaxial films of different compositions. It is shown that for both CuGaSe2 and CuInSe2 the 001 surfaces form 112 facets. With increasing Cu excess the faceting is suppressed, indicating a lower surface energy of the 001 surface than the energy of the 112 surface in the Cu rich regime, but the 001 surface is higher in energy than the 112 surface in the Cu poor regime. As both surfaces are polar the stabilization is attributed to defect formatio

Universal and non-universal properties of cross-correlations in financial time series

We use methods of random matrix theory to analyze the cross-correlation matrix C of price changes of the largest 1000 US stocks for the 2-year period 1994-95. We find that the statistics of most of the eigenvalues in the spectrum of C agree with the predictions of random matrix theory, but there are deviations for a few of the largest eigenvalues. We find that C has the universal properties of the Gaussian orthogonal ensemble of random matrices. Furthermore, we analyze the eigenvectors of C through their inverse participation ratio and find eigenvectors with large inverse participation ratios at both edges of the eigenvalue spectrum--a situation reminiscent of results in localization theory.Comment: 14 pages, 3 figures, Revte