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This article estimates the loan spread equation taking into account the endogenous matching between banks and firms in the loan market. To overcome the endogeneity problem, I supplement the loan spread equation with a two-sided matching model and estimate them jointly. Bayesian inference is feasible using a Gibbs sampling algorithm that performs Markov chain Monte Carlo (MCMC) simulations. I find that medium-sized banks and firms tend to be the most attractive partners, and that liquidity is also a consideration in choosing partners. Furthermore, banks with higher monitoring ability charge higher spreads, and firms that are more leveraged or less liquid are charged higher spreads.

This chapter critically engages with ways that teaching excellence has been operationalised in practice. Specific focus is on developing individual teaching excellence, rewarding of success and recognition of teaching excellence and the building of evidence around what works in teaching for the benefits of students. We consider the daily interactions with students that form the basis of frameworks of teaching excellence before arguing that operationalisations of teaching excellence are highly context specific and operate at the level of institutions and the whole higher education sector. We discuss the criteria that underpin teaching excellence awards. This includes governance as well as development frameworks. After considering the complex links between research and teaching and the importance of the disciplinary dimension of teaching excellence, the chapter finally looks at the skills and attributes commonly associated with individual teacher excellence and argues that these are exceptionally difficult to pin down let alone measure. It concludes with some reflections on some of the challenges faced by institutions as they seek to develop the quality of teaching whilst meeting the requirements of the TEF.

“Oh what a tangled web we weave, when first we practice to deceive.” When Sir Walter Scott penned these words, he probably did not have diversity or universities on his mind. Those of us that are genuinely engaged in diversity, inclusion, equity, social justice, and/or multicultural education work can ruminate on his words and think of how university campuses tout their diversity initiatives and sometimes brag about being the “most diverse” are in actuality deceiving themselves and the constituents they serve. Even though diversity awareness has become an important topic in academe in recent years, so many campuses have largely failed to address it in any substantive way, thus creating an environment where students and even employees sometimes become disengaged. Davies (2007) argues that “university leaders who claim openness to diversity do not acknowledge the presence or participation of Others in activities that are characteristic of a free and democratic society” (p. 154).

Many institutions of higher learning honestly believe that in showcasing a campus program based around food, festival, or fun, they can check the diversity box. Yet, when diversity practitioners push the campus in becoming multicultural competent by addressing diversity outside the proverbial realm of “race,” questions like, “Why are they doing this?” arise. The struggle to sustain a comprehensive and meaningful campus diversity program is real for many agents for change. In order for diversity advocates to have a seat at the table, the campus attitude and practice of “diversity need not apply” cannot continue to exist.

Leaders within academia must be cognizant of their campus culture, which governs the law of the land. More importantly, it is vital to understand that sometimes your campus culture may not be receptive to cultural differences, although university verbiage may state, “We will promote diversity and maintain an environment that celebrates and values the many perspectives, cultures, and […]” Institutions of higher learning in this new millennium (twenty-first century) are deeply entrenched in organizational culture that has become its cornerstone over time, and is resistant to change.

Campus culture is real. Stewart and Dottolo (2005) state that universities should strive to ensure that any groups that fall outside of the traditional culture do not encounter an unwelcoming and threatening institutional environment. However, not every university strives or desires to create a campus climate where diversity is welcomed, celebrated, and/or embraced. It is paramount that educational institutions that serve diverse populations strive to become proficient in multiculturalism (Roach, 2004). Institutions of higher education are socially obligated to provide a learning environment for students with varied backgrounds (Bridges et al., 2008). It is essential that universities take a very close look at how they can contribute to the greater good of society by instilling a sense of worth in all students, regardless of ethnicity and other features of student identities. Williams and Swail (2005) argue that “attending college can be a liberating, developmentally powerful experience with the potential to increase individual productivity and, to some degree, the quality of life of the larger society” (p. 222). This can only occur if or when all aspects of diversity can apply and become an integral part of the university.

This chapter provides an introduction to the problematic notion of teaching excellence in higher education, which is a focus of this collection. It draws on an extensive review of relevant literature to explore how teaching excellence is defined and conceptualised and what factors underpin different conceptions. It notes that definitions are disparate, often context-specific and are influenced by a range of different ‘players’. It then examines how different conceptualisations play out at the macro, meso and micro levels and highlights the tensions between performative and transformative notions of teaching excellence. It notes the move from ‘surface’ to ‘deep’ excellence and efforts to articulate a more holistic conception of teaching excellence that emphasises the relational, emotional and moral dimensions of teaching. It suggests that, rather than seeking singular definitions and conceptions, it may be more useful to talk of ‘teaching excellences’, to reflect a stratified and plural sector, a diverse student body and different disciplinary families. Equally, it argues for further investigation of the intersections of teaching excellence with other key drivers of institutional change, such as student engagement and well-being, inclusion and diversity, widening participation and retention and success.

This chapter develops a framework for quantile regression in binary longitudinal data settings. A novel Markov chain Monte Carlo (MCMC) method is designed to fit the model and its computational efficiency is demonstrated in a simulation study. The proposed approach is flexible in that it can account for common and individual-specific parameters, as well as multivariate heterogeneity associated with several covariates. The methodology is applied to study female labor force participation and home ownership in the United States. The results offer new insights at the various quantiles, which are of interest to policymakers and researchers alike.

This chapter enquires into the contribution of two British writers, Herbert Somerton Foxwell and Henry Riverdale Grenfell, who elaborated upon the hints provided by Jevons towards a description of long waves in the oscillations of prices. Writing two decades after Jevons, they witnessed the era of high prices turning into the great depression of the last quarter of the nineteenth century, the causes of which they saw in the end of bimetallism. Not only did they take up Jevons’s specific explanation of the long fluctuations, but they also based their discussion upon graphical representation of data and incorporated in their treatment a specific trait (the superposition principle) of the ‘waves’ metaphor emphasized by the Manchester statisticians in the 1850s and 1860s. Their contribution is also interesting for their understanding of crises versus depressions at the time of the emergence of the interpretation of oscillations as a cycle, which they have only partially grasped – as distinct from the approach of later long wave theorists.

This article is motivated by the lack of flexibility in Bayesian quantile regression for ordinal models where the error follows an asymmetric Laplace (AL) distribution. The inflexibility arises because the skewness of the distribution is completely specified when a quantile is chosen. To overcome this shortcoming, we derive the cumulative distribution function (and the moment-generating function) of the generalized asymmetric Laplace (GAL) distribution – a generalization of AL distribution that separates the skewness from the quantile parameter – and construct a working likelihood for the ordinal quantile model. The resulting framework is termed flexible Bayesian quantile regression for ordinal (FBQROR) models. However, its estimation is not straightforward. We address estimation issues and propose an efficient Markov chain Monte Carlo (MCMC) procedure based on Gibbs sampling and joint Metropolis–Hastings algorithm. The advantages of the proposed model are demonstrated in multiple simulation studies and implemented to analyze public opinion on homeownership as the best long-term investment in the United States following the Great Recession.

Compared to monoracials, multiracials appear (a) to be more concerned about acceptance within their select social groups and within society at large and (b) to have higher differentiation and uniqueness needs. Artworks help consumers successfully fulfill these needs, and multiracials are heavily dependent on artworks in their (racial) identity negotiations. In addition to these needs, familial background, school, and technical qualities of artworks serve as antecedents to artwork consumption. Multiracial identity influences artwork consumption both directly and indirectly. The indirect influence is mediated by social acceptability, group identification, and uniqueness needs. Artwork consumption serves multiracials in two ways: pleasure/escape and communication/identity negotiation.