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The purpose of this paper is to analyse the relation between stock market volatility and macroeconomic fundamentals for G-7 countries using monthly data over the period from July 1985 to June 2015.

The empirical methodology is based on two steps: in the first step, the authors obtain the conditional volatilities of stock market returns and macroeconomic variables through the GARCH family of models. The authors also incorporate the impact of early 2000s dotcom and the global financial crises. In the second step, the authors estimate multivariate vector autoregressive model to analyze the dynamic relation between stock markets return and macroeconomic variables.

The overall results for G-7 countries indicate a weak volatility transmission from macroeconomic factors to stock market volatility at individual level but the collective impact of volatility transmission is highly significant. Although, the results of block exogeneity indicate a bidirectional causality except UK, but the causal linkage is quite weak from stock market to macroeconomic variables. Moreover, the local financial variables excluding interest rate are closely integrated, and the volatility of industrial production growth and oil price are identified as the most significant macroeconomic factors that could possibly influence the directions of stock markets.

This research establishes the nature of the links between stock market and macroeconomic volatility. Research to date has been unable to satisfactorily establish the empirical nature of such links. The authors believe this paper begins to do this.

The purpose of this study is to demonstrate how Facebook usage is positively related to envy and narcissism, which in turn increase users’ desire for self-promotion and propensity to engage in conspicuous consumption.

Data were collected via an online survey, with 674 usable responses collected from Facebook users of all ages.

The results support the hypotheses that increased Facebook usage is positively related to envy and narcissism. These two psychological constructs lead to stronger desires for self-promotion, spurring the behavioral response of conspicuous online consumption.

The findings are limited to the self-reported behaviors of a limited sample. Despite the limitations, the findings identify a process by which increased Facebook usage results in an increased desire to promote oneself through conspicuous consumption.

An understanding of the psychology linking social media use to conspicuous consumption can aid managers in developing marketing strategies to encourage the purchase and usage of positional goods. Specifically, more frequent users may be targeted by advertisers wishing to encourage the purchase and display of their products.

Facebook usage appears to elicit emotions – such as narcissism and envy – that most researchers would consider socially undesirable.

An emerging stream of research suggests that social media usage elicits both positive self-comparisons with others (i.e. narcissism) and negative (i.e. envy). This study is among the first to empirically test this effect on the purchase and consumption of positional goods.

This paper aims to examine the behaviour, both contemporaneous and causal, of stock and bond markets across four major international countries.

The authors generate volatility and correlations using the realised volatility approach and implement a general vector autoregression approach to examine causality and spillovers.

While results confirm that same asset-cross country return correlations and spillovers increase over time, the same in not true with variance and covariance behaviour. Volatility spillovers across countries exhibit a substantial amount of time variation; however, there is no evidence of trending in any direction. Equally, cross asset – same country correlations exhibit both negative and positive values. Further, the authors report an inverse relation between same asset – cross country return correlations and cross asset – same country return correlations, i.e. the stock return correlation across countries increases at the same time the stock and bond return correlation within each country declines. Moreover, the results show that the stock and bond return correlations exhibit commonality across countries. The results also demonstrate that stock returns lead movement in bond returns, while US stock and bond returns have predictive power other country stock and bond returns. In terms of the markets analysed, Japan exhibits a distinct nature compared with those of Germany, the UK and USA.

The results presented here provide a detailed characterisation of how assets interact both with each other and cross-countries and should be of interest to portfolio managers, policy-makers and those interested in modelling cross-market behaviour. Notably, the authors reveal key differences between the behaviour of stocks and bonds and across different countries.

This article addresses the claim, particularly popular in the 2000s and implicitly resting on a segmentation view of the labour market, that a flexible labour market-driven immigration policy (within the EU as well as from outside), often associated to a ‘Canadian model’, would respond to the economic needs of continental European countries.

A comparative historical approach is applied, including analysis of historical series of unemployment and migration data and a qualitative analysis of secondary sources on Germany, Spain and Canada, selected as best representatives of different labour market and immigration regimes. The research asks to what extent, and how, immigration has been used as a ‘buffer’ for labour market uncertainty.

Against ideas of a ‘Canadian’ model advertised in Europe (e.g. Germany), the historical and quantitative analysis shows that Canada itself has moved from short-term labour market-driven immigration policies to more long-term approaches. In fact, there has been a stronger labour market-migration link in Spain, but not without problems,

The article is a small-N comparison of critical cases, that is most different labour market models. Major demographic and geographic differences exist between the three countries, which raises even more scepticism about the suitability of a Canadian model in Europe.

The policy implications are centred on the detected paradox of labour market-driven immigration policies: in order to be sustainable, they need to have a long-term orientation and involve some degree of social integration policies.

The article adds to comparative studies of migration policies through a stronger link to labour market analysis and in particular issues of uncertainty and segmentation.

As part of a tobacco farmer diversification randomized intervention study in 14 eastern North Carolina counties, a media content analysis of 16 local newspapers was conducted. All available issues of each of the newspapers from the period 1 November 1996, through 31 December 1999, were reviewed, and all relevant articles were clipped, coded, and entered into a database. Media coverage intensity was compared, qualitatively, with data from interviews with local civic, health, and religious leaders. There was, on average, only one tobacco diversification article in every 100 newspaper issues. The hypothesis that coverage of tobacco diversification and tobacco control would become more favorable in the intervention counties over time was not supported. Interview data showed that organizational leaders placed a higher priority on tobacco diversification policy issues than evidenced by media coverage.

This paper examines the Art Institute of Chicago – a nationally recognized museum – as a white sanctuary, i.e., a white institutional space within a racialized social system that serves to reassure whites of their dominant position in society. The purpose of this paper is to highlight how museums create and maintain white spaces within the greater context of being an institution for the general public.

The empirical analysis of this study is based on collaborative ethnographic data collected over a three-year period of time conducted by the first two authors, and consists of hundreds of photos and hundreds of hours of participant observations and field notes. The data are analyzed using descriptive methods and content analyses.

The findings highlight three specific racial mechanisms that speak to how white spaces are created, recreated and maintained within nationally and internationally elite museums: spatiality, the policing of space, and the management of access.

Sociological research on how white spaces are maintained in racialized organizations is limited. This paper extends to museums’ institutional role in maintaining white supremacy, as white sanctuaries.

This paper adds to the existing literature on race, place and space by highlighting three specific racial mechanisms in museum institutions that help to maintain white supremacy, white normality(ies), and serve to facilitate a reassurance to whites’ anxieties, fears and fragilities about their group position in society – that which helps to preserve their psychological wages of whiteness in safe white spaces.

The purpose of this paper is to examine the impact that HR departments have on alternative stakeholders when they focus on improving the organization’s information capability instead of focusing their information agenda on human resource (HR) departmental activities.

The findings are based on the 2016 offering of the HR Competency study that is sponsored by the Ross School of Business at the University of Michigan and the RBL Group. The data set consists of over 36,000 respondents from around the world. Data were gathered through a 360 methodology that includes self-ratings and HR and non-HR associate ratings.

The findings show that HR’s involvement in leveraging business information has more impact than any other HR department activity on creating value for key external stakeholders. When controlling for other HR activities, the analysis shows that 77.4 per cent of HR total impact on customer value and 55.6 per cent of shareholder value occurs through HR’s involvement in information management. This impact occurs as HR departments contribute to identifying important external information (including customer and competitive information), importing important external information into the firm, analyzing information through both quantitative and qualitative algorithms, disseminating key facts and findings throughout the firm and ensuring the full utilization of information in decision making. The authors provide examples of how HR departments in leading companies are contributing to each of these phases of organization information management.

These findings have potentially important implications for how HR professionals add value to their key stakeholders. It suggests that HR departments will add greater value to their firms as they shift the focus of their information agenda from application to internal HR processes and practices to creating competitive advantage through organization-wide information management capability.

Flood resilience is emerging as a major component of an integrated strategic approach to flood risk management. This approach recognizes that some flooding is inevitable and aligns with the concept of “living with water.” Resilience measurement is a key in making business case for investments in resilient retrofits/adaptations, and could potentially be used to inform the design of new developments in flood prone areas. The literature is, however, sparse on frameworks for measuring flood resilience. The purpose of this paper is to describe the development of a fuzzy logic (FL)-based resilience measuring model, drawing on a synthesis of extant flood resilience and FL literature.

An abstraction of the flood resilience system followed by identification and characterization of systems’ variables and parameters were carried out. The resulting model was transformed into a fuzzy inference system (FIS) using three input factors: inherent resilience, supportive facilities (SF) and resident capacity.

The resulting FIS generates resilience index for households with a wide range of techno-economic and socio-environmental features.

It is concluded that the FL-based model provides a veritable tool for the measurement of flood resilience at the level of the individual property, and with the potential to be further developed for larger scale applications, i.e. at the community or regional levels.

Addressing the question, how might socio-technical systems help homeless young people to succeed broadly in employment, the purpose of this paper is to present a future vision, the U-District Job Co-op, where youth take on “mini-jobs” offered by neighborhood stakeholders.

Drawing on value sensitive design, design-based, and qualitative research methods, the Job Co-op is explicated by reporting on three linked studies.

First, based on empirical research with varied neighborhood stakeholders, barriers and possible solutions to employment for homeless young people are presented. Second, three design insights for shaping a solution space of socio-technical systems for job search are presented and used analytically to examine six existing systems. Third, findings from a co-design study in which homeless young people expressed their understandings for web-based job services explicate the vision of the Job Co-op.

This study offers a socio-technical approach, grounded in the neighborhood context, for supporting homeless young people in job search and related activities.

The studies reported in this paper demonstrate how methods for information system design can be used to generate and clarify opportunities for human benefit and for the development of socio-technical systems that account for human values.

Despite the present focus on improving the resilience of homes to flooding in UK flood risk management policy and strategy, a general measurement framework for determining levels of flood resilience in UK homes does not exist. In light of this, the aim of this study was to develop a means to evaluate the levels of resilience in flood-prone homes from the perspective of homeowners'.

A quantitative research methodology was employed, with empirical data obtained through a postal survey of homeowners who had experienced flooding. The responses received were then analysed using a combination of statistical techniques including agreement/reliability tests and multiple regression to develop a model of flood resilience.

A predictive model was developed that allows the resilience of a property to be quantified and measured as perceived by homeowners. The findings indicate that the main factors found to influence the level of flood resilience were: property type (PT), presence of cellar/basement (C/B), property wall type (PWT), property ground floor type (PGFT), kitchen unit type (KU), flood experience (FE), flood source (FS) and flood risk level (FRL).

The resulting model provides unique insights into resilience levels to the benefit of a range of stakeholders including policy makers (such as Defra/Environment Agency), Local Authority flood teams, property professionals, housing associations and homeowners. As a result, homeowners will be in a better position to determine which interventions should be prioritised to ensure better flood protection.

This is the first study of its kind to have rigorously quantified the level of flood resilience for individual homes. This study has quantified the effectiveness of individual resilience measures to derive the first reliable means to measure the overall levels of resilience at the individual property level. This is regarded as a significant contribution to the study of flood risk management through the quantification of resilience within individual UK homes, enabling the prioritisation of interventions and the overall monitoring of resilience.