Within-Firm Pay Inequality

Financial regulators and investors have expressed concerns about high pay inequality within firms. Using a proprietary data set of public and private firms, this paper shows that firms with higher pay inequality—relative wage differentials between top- and bottom-level jobs—are larger and have higher valuations and stronger operating performance. Moreover, firms with higher pay inequality exhibit larger equity returns and greater earnings surprises, suggesting that pay inequality is not fully priced by the market. Our results support the notion that differences in pay inequality across firms are a reflection of differences in managerial talent

Asymmetric Hillslope Erosion Following Wildfire in Fourmile Canyon, Colorado

Infrequent, high-magnitude events cause a disproportionate amount of sediment transport on steep hillslopes, but few quantitative data are available that capture these processes. Here we study the influence of wildfire and hillslope aspect on soil erosion in Fourmile Canyon, Colorado. This region experienced the Fourmile Fire of 2010, strong summer convective storms in 2011 and 2012, and extreme flooding in September 2013. We sampled soils shortly after these events and use fallout radionuclides to trace erosion on polar- and equatorial-facing burned slopes and on a polar-facing unburned slope. Because these radionuclides are concentrated in the upper decimeter of soil, soil inventories are sensitive to erosion by surface runoff. The polar-facing burned slope had significantly lower cesium-137 (137Cs) and lead-210 (210Pb) inventories (p \u3c 0.05) than either the polar-facing unburned slope or equatorial-facing burned slope. Local slope magnitude does not appear to control the erosional response to wildfire, as relatively gently sloping (~20%) polar-facing positions were severely eroded in the most intensively burned area. Field evidence and soil profile analyses indicate up to 4 cm of local soil erosion on the polar-facing burned slope, but radionuclide mass balance indicates that much of this was trapped nearby. Using a 137Cs-based erosion model, we find that the burned polar-facing slope had a net mean sediment loss of 2 mm (~1 kg m−2) over a one to three year period, which is one to two orders of magnitude higher than longer-term erosion rates reported for this region. In this part of the Colorado Front Range, strong hillslope asymmetry controls soil moisture and vegetation; polar-facing slopes support significantly denser pine and fir stands, which fuels more intense wildfires. We conclude that polar-facing slopes experience the most severe surface erosion following wildfires in this region, indicating that landscape-scale aridity can control the geomorphic response of hillslopes to wildfires. Copyright © 2018 John Wiley & Sons, Ltd

Is the Riemann zeta function in a short interval a 1-RSB spin glass ?

Fyodorov, Hiary & Keating established an intriguing connection between the maxima of log-correlated processes and the ones of the Riemann zeta function on a short interval of the critical line. In particular, they suggest that the analogue of the free energy of the Riemann zeta function is identical to the one of the Random Energy Model in spin glasses. In this paper, the connection between spin glasses and the Riemann zeta function is explored further. We study a random model of the Riemann zeta function and show that its two-overlap distribution corresponds to the one of a one-step replica symmetry breaking (1-RSB) spin glass. This provides evidence that the local maxima of the zeta function are strongly clustered.Comment: 20 pages, 1 figure, Minor corrections, References update

A meta-analysis of CBT for pathological worry among clients with GAD.

Previous meta-analyses assessing the effectiveness of Cognitive Behavioural Therapy (CBT) for Generalized Anxiety Disorder (GAD) used general measures of anxiety to assess symptom severity and improvement (e.g., Hamilton Anxiety Ratings Scale or a composite measure of anxiety). While informative, these studies do not provide sufficient evidence as to whether CBT significantly reduces the cardinal symptom of GAD: pathological worry. The current meta-analysis employed stringent inclusion criteria to evaluate relevant outcome studies, including the use of the Penn State Worry Questionnaire as the main outcome variable. Results showed a large overall effect size (ES) that was moderated by age and modality of treatment. Specifically, the largest gains were found for younger adults and for individual treatment. Analyses also revealed overall maintenance of gains at 6- and 12-month follow-up. Clinical implications of different treatment packages are discussed, as well as potential explanations for the differential effectiveness of CBT

Homicide in Canada and the crime drop

In contrast to the Canadian crime drop of the 1990s, homicide appeared as an anomaly with a peak in the 1970s. Yet previous studies tend to refer only to completed homicides, and here we also include attempts. The resulting trend is remarkably similar to that in Canadian property crime for five decades. This seems unlikely to be a coincidence and we speculate about a causal link

Barriers, facilitators and views about next steps to implementing supports for evidence-informed decision-making in health systems: a qualitative study

Background: Mobilizing research evidence for daily decision-making is challenging for health system decision-makers. In a previous qualitative paper, we showed the current mix of supports that Canadian health-care organizations have in place and the ones that are perceived to be helpful to facilitate the use of research evidence in health system decision-making. Factors influencing the implementation of such supports remain poorly described in the literature. Identifying the barriers to and facilitators of different interventions is essential for implementation of effective, context-specific, supports for evidence-informed decision-making (EIDM) in health systems. The purpose of this study was to identify (a) barriers and facilitators to implementing supports for EIDM in Canadian health-care organizations, (b) views about emerging development of supports for EIDM, and (c) views about the priorities to bridge the gaps in the current mix of supports that these organizations have in place. Methods: This qualitative study was conducted in three types of health-care organizations (regional health authorities, hospitals, and primary care practices) in two Canadian provinces (Ontario and Quebec). Fifty-seven in-depth semi-structured telephone interviews were conducted with senior managers, library managers, and knowledge brokers from health-care organizations that have already undertaken strategic initiatives in knowledge translation. The interviews were taped, transcribed, and then analyzed thematically using NVivo 9 qualitative data analysis software. Results: Limited resources (i.e., money or staff), time constraints, and negative attitudes (or resistance) toward change were the most frequently identified barriers to implementing supports for EIDM. Genuine interest from health system decision-makers, notably their willingness to invest money and resources and to create a knowledge translation culture over time in health-care organizations, was the most frequently identified facilitator to implementing supports for EIDM. The most frequently cited views about emerging development of supports for EIDM were implementing accessible and efficient systems to support the use of research in decision-making (e.g., documentation and reporting tools, communication tools, and decision support tools) and developing and implementing an infrastructure or position where the accountability for encouraging knowledge use lies. The most frequently stated priorities for bridging the gaps in the current mix of supports that these organizations have in place were implementing technical infrastructures to support research use and to ensure access to research evidence and establishing formal or informal ties to researchers and knowledge brokers outside the organization who can assist in EIDM. Conclusions: These results provide insights on the type of practical implementation imperatives involved in supporting EIDM

What supports do health system organizations have in place to facilitate evidence-informed decision-making? a qualitative study

Background: Decisions regarding health systems are sometimes made without the input of timely and reliable evidence, leading to less than optimal health outcomes. Healthcare organizations can implement tools and infrastructures to support the use of research evidence to inform decision-making. Objectives: The purpose of this study was to profile the supports and instruments (i.e., programs, interventions, instruments or tools) that healthcare organizations currently have in place and which ones were perceived to facilitate evidence-informed decision-making. Methods: In-depth semi-structured telephone interviews were conducted with individuals in three different types of positions (i.e., a senior management team member, a library manager, and a ‘knowledge broker’) in three types of healthcare organizations (i.e., regional health authorities, hospitals and primary care practices) in two Canadian provinces (i.e., Ontario and Quebec). The interviews were taped, transcribed, and then analyzed thematically using NVivo 9 qualitative data analysis software. Results: A total of 57 interviews were conducted in 25 organizations in Ontario and Quebec. The main findings suggest that, for the healthcare organizations that participated in this study, the following supports facilitate evidence-informed decision-making: facilitating roles that actively promote research use within the organization; establishing ties to researchers and opinion leaders outside the organization; a technical infrastructure that provides access to research evidence, such as databases; and provision and participation in training programs to enhance staff’s capacity building. Conclusions: This study identified the need for having a receptive climate, which laid the foundation for the implementation of other tangible initiatives and supported the use of research in decision-making. This study adds to the literature on organizational efforts that can increase the use of research evidence in decision-making. Some of the identified supports may increase the use of research evidence by decision-makers, which may then lead to more informed decisions, and hopefully to a strengthened health system and improved health

On landmark selection and sampling in high-dimensional data analysis

In recent years, the spectral analysis of appropriately defined kernel matrices has emerged as a principled way to extract the low-dimensional structure often prevalent in high-dimensional data. Here we provide an introduction to spectral methods for linear and nonlinear dimension reduction, emphasizing ways to overcome the computational limitations currently faced by practitioners with massive datasets. In particular, a data subsampling or landmark selection process is often employed to construct a kernel based on partial information, followed by an approximate spectral analysis termed the Nystrom extension. We provide a quantitative framework to analyse this procedure, and use it to demonstrate algorithmic performance bounds on a range of practical approaches designed to optimize the landmark selection process. We compare the practical implications of these bounds by way of real-world examples drawn from the field of computer vision, whereby low-dimensional manifold structure is shown to emerge from high-dimensional video data streams.Comment: 18 pages, 6 figures, submitted for publicatio