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Article
Publication date: 7 August 2017

Karen Paul

This study examines the effect of business cycle, market return and momentum on the financial performance of socially responsible investing (SRI) mutual funds using data…

Abstract

Purpose

This study examines the effect of business cycle, market return and momentum on the financial performance of socially responsible investing (SRI) mutual funds using data from two complete business cycles as defined by the National Bureau of Economic Research (NBER).

Design/methodology/approach

A “fund of funds” approach is used to identify the extent to which SRI financial performance is affected by the macroeconomic climate. The Fama-French Three-Factor model and the Carhart four-factor model are used to bring the results into alignment with commonly used finance methodologies.

Findings

The results indicate that SRI tends to preserve value during economic contraction more than it adds value during economic expansion. Market return is important during both expansion and contraction, while momentum is important only during expansion.

Research limitations/implications

These findings suggest that double screening, for both financial and social performance, enables portfolio managers of SRI funds to have insight into those companies that are particularly vulnerable during times of economic contraction.

Practical implications

These results bring added clarity to the mixed findings found by previous researchers examining the relationship between corporate social performance (CSP) and financial performance.

Social implications

This study reinforces the idea that the financial performance of companies with high ethical standards is comparable to the financial performance of the market as a whole during times of economic expansion and superior to the market as a whole during times of economic contraction.

Originality/value

Business cycle analysis, along with the Fama-French Three-Factor model and the Carhart four-factor model, brings SRI research more into the realm of conventional financial analysis than previous studies.

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Article
Publication date: 3 October 2019

Karen Paul, B. Elango and Sumit Kundu

The purpose of this paper is to introduce the notion of social responsibility skepticism (SRS) and demonstrate its importance to the existing social responsibility…

Abstract

Purpose

The purpose of this paper is to introduce the notion of social responsibility skepticism (SRS) and demonstrate its importance to the existing social responsibility literature. Stakeholder-emphasizing perspective (STEP) and shareholder-emphasizing perspective (SHEP) are tested as independent constructs that both serve to reduce skepticism. SHEP, STEP and SRS are shown to be interrelated but independent ideas.

Design/methodology/approach

The study is based on a primary questionnaire survey of managers. Multivariate regression analysis is used for analysis, level of management is a moderating variable and age and gender are control variables.

Findings

Managers who accept either the shareholder emphasis or the stakeholder emphasis have lower social responsibility skepticism. STEP and SHEP appear to be two independent constructs that both serve to reduce skepticism, although STEP is slightly more effective. The relationship is stronger for STEP managers and for higher level managers.

Research limitations/implications

Findings may be influenced by the existing political or business milieu. Findings on the moderating effect of level of management and age may reflect generational differences. Changes in gender roles may also affect findings.

Practical implications

Acceptance of management theories oriented either toward a stakeholder perspective or a shareholder perspective is associated with less skepticism. The legitimacy and value of each perspective should be acknowledged.

Social implications

Managers require support for decisions taking social responsibility into account. This study demonstrates that grounding in stakeholder theory or shareholder theory can reduce SRS.

Originality/value

This study introduces the new concept of SRS and provides a scale to measure this new variable. New scales are also provided for SHEP and STEP. Both perspectives negate tendencies toward SRS.

Details

Social Responsibility Journal, vol. 16 no. 4
Type: Research Article
ISSN: 1747-1117

Keywords

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Book part
Publication date: 18 March 2014

James Keyte, Paul Eckles and Karen Lent

In 2009, the Third Circuit decided Hydrogen Peroxide, which announced a more rigorous standard under Federal Rule of Civil Procedure 23(b)(3) for assessing whether a…

Abstract

In 2009, the Third Circuit decided Hydrogen Peroxide, which announced a more rigorous standard under Federal Rule of Civil Procedure 23(b)(3) for assessing whether a putative class could establish antitrust injury. Earlier this year, the Supreme Court decided Comcast v. Behrend, a case that carries potentially broad implications for both antitrust cases and Rule 23(b)(3) class actions generally. A review of the case law starting with Hydrogen Peroxide and continuing through Comcast and its progeny reveals the new rigor in antitrust class action decisions and suggests what the future may hold, including the type of arguments that may provide defendants the most likely chance of defeating class certification. After Comcast, rigor under 23(b)(3) can no longer be avoided in assessing all class actions questions, and courts should now apply Daubert fully in the class setting concerning both impact and damages. Courts should also closely evaluate plaintiffs’ proposed methodologies for proving impact to determine if they apply to each class member. Finally, courts will inevitably have to determine how rigorously to scrutinize experts’ damages methodologies and whether Comcast requires or suggests more scrutiny in assessing common evidence for measuring damages.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

Keywords

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Article
Publication date: 22 May 2007

Michele C. Kieke, Karen Moroz and Amy S. Gort

The purpose of this paper is to describe the way(s) in which the introduction of systematic outcomes assessment throughout a university has begun to transform its academic culture.

Abstract

Purpose

The purpose of this paper is to describe the way(s) in which the introduction of systematic outcomes assessment throughout a university has begun to transform its academic culture.

Design/methodology/approach

The college is incrementally introducing system‐supported evaluation of student work. It began with general education, working with interdisciplinary faculty committees to define common learning outcomes with shared rubrics, and using these in all courses designated as general education. The use of this approach is now expanding into the majors and specific programs.

Findings

The paper finds that the process by which general education and program outcomes and rubrics have been defined has already led to a change of focus – with more clear emphasis on what students should demonstrate – and a shared sense of ownership in the learning outcomes and rubrics.

Originality/value

Concordia University (Saint Paul) is one of the first colleges to methodically introduce this system‐supported approach across the institution.

Details

On the Horizon, vol. 15 no. 2
Type: Research Article
ISSN: 1074-8121

Keywords

Content available
Book part
Publication date: 14 November 2016

Robert H. Herz

Abstract

Details

More Accounting Changes
Type: Book
ISBN: 978-1-78635-629-1

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Article
Publication date: 1 March 1998

Hannah Patrick, Paul Bolton and Karen Brickenden

Introduction Clinical Guidelines are systematically developed statements which assist clinicians and patients in making decisions about appropriate treatment for specific…

Abstract

Introduction Clinical Guidelines are systematically developed statements which assist clinicians and patients in making decisions about appropriate treatment for specific conditions. While there have been great expectations of improving clinical practice many criticisms of the process have been made:

Details

Journal of Clinical Effectiveness, vol. 3 no. 3
Type: Research Article
ISSN: 1361-5874

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Article
Publication date: 29 February 2008

Elizabeth Bye, Karen LaBat, Ellen McKinney and Dong‐Eun Kim

To evaluate current apparel industry Misses grading practices in providing good fit and propose grading practices to improve fit.

Abstract

Purpose

To evaluate current apparel industry Misses grading practices in providing good fit and propose grading practices to improve fit.

Design/methodology/approach

Participants representing Misses sizes 6‐20 based on ASTM D 5585 were selected. The fit of garments from traditionally graded patterns was assessed. Garments were fit‐to‐shape on participants. Traditionally graded patterns were compared to fit‐to‐shape patterns using quantitative and qualitative visual analysis.

Findings

Current apparel industry grading practices do not provide good fit for consumers. The greatest variation between the traditionally graded patterns and the fit‐to‐shape patterns occurred between sizes 14 and 16. For size 16 and up, neck and armscye circumferences were too large and bust dart intakes were too small.

Research limitations/implications

This study was limited to a sheath dress in Misses sizes 6‐20. Future research should assess the fit of garments from traditionally graded patterns for other size ranges.

Practical implications

Multiple fit modes are needed in a range of more than five sizes. The fit model should be at the middle of a sizing group that does not range more than two sizes up or down.

Originality/value

There are few studies on apparel grading that test fit of actual garments on the body. The analysis documents the real growth of the body across the size range and suggests that changes in body measurements and shape determine the fit of a garment. These findings impact future research in apparel and the practices of apparel manufacturers.

Details

International Journal of Clothing Science and Technology, vol. 20 no. 2
Type: Research Article
ISSN: 0955-6222

Keywords

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Book part
Publication date: 18 March 2014

Joshua P. Davis

This article responds to James Keyte, Paul Eckles, and Karen Lent’s article “From Hydrogen Peroxide to Comcast: The New Rigor in Antitrust Class Actions” (“The New Rigor

Abstract

This article responds to James Keyte, Paul Eckles, and Karen Lent’s article “From Hydrogen Peroxide to Comcast: The New Rigor in Antitrust Class Actions” (“The New Rigor”). It argues that The New Rigor offers valuable strategic advice to defense counsel – and insight into defense counsel’s strategic thinking – but is much less effective as an objective statement of the law or a normative argument for legal reform. In the parlance that I adopt, The New Rigor succeeds in the role of coach but much less so in the roles of commentator and critic.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

Keywords

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Article
Publication date: 1 January 1995

James W. Grosch, Karen G. Duffy and Paul V. Olczak

Although ethnicity and gender play a significant role in many types of social interaction, little research exists on their importance in mediation. An analysis of…

Abstract

Although ethnicity and gender play a significant role in many types of social interaction, little research exists on their importance in mediation. An analysis of community mediation cases (N = 27,852) from New York state demonstrated that, consistent with predictions from criminal justice research, Whites were underrepresented in mediation relative to Blacks and Hispanics, and that females were more likely to participate in mediation as claimants than men. Both ethnicity and gender were related to the type of dispute, degree of violence, intimacy between disputants, source of referral, and mediation outcome. Additional analysis, taking into account source of referral, education, and income level of the claimant, did not fully account for the observed ethnic or gender differences. Results are discussed in terms of reasons why ethnic and gender differences exist in mediation, limitations of demographic data, and areas for future research.

Details

International Journal of Conflict Management, vol. 6 no. 1
Type: Research Article
ISSN: 1044-4068

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Book part
Publication date: 1 November 2007

Sarah Rosenbloom, Susan Yount, Kathleen Yost, Debra Hampton, Diane Paul, Amy Abernethy, Paul B. Jacobsen, Karen Syrjala, Jamie Von Roenn and David Cella

Recent guidance from the United States Food and Drug Administration discusses patient-reported outcomes as endpoints in clinical trials (FDA, 2006). Using methods…

Abstract

Recent guidance from the United States Food and Drug Administration discusses patient-reported outcomes as endpoints in clinical trials (FDA, 2006). Using methods consistent with this guidance, we developed symptom indexes for patients with advanced cancer. Input on the most important symptoms was obtained from 533 patients recruited from National Comprehensive Cancer Network (NCCN) member institutions and four non-profit social service organizations. Diagnoses included the following 11 primary cancers: bladder, brain, breast, colorectal, head/neck, hepatobiliary/pancreatic, kidney, lung, lymphoma, ovarian and prostate. Physician experts in each of 11 diseases were also surveyed to differentiate symptoms that were predominantly disease-based from those that were predominantly treatment-induced. Results were evaluated alongside previously published indexes for 9 of these 11 advanced cancers that were created based on expert provider surveys, also at NCCN institutions (Cella et al., 2003). The final results are 11 symptom indexes that reflect the highest priorities of people affected by these 11 advanced cancers and the experienced perspective of the people who provide their medical treatment. Beyond the clinical value of such indexes, they may also contribute significantly to satisfying regulatory requirements for a standardized tool to evaluate drug efficacy with respect to symptomatology.

Details

The Value of Innovation: Impact on Health, Life Quality, Safety, and Regulatory Research
Type: Book
ISBN: 978-1-84950-551-2

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