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This study investigates the private equity funds’ performances and persistence by fund type. Diversification benefit exists between public equity and private equity and among different types of private equity funds. The net IRR of private equity funds depends on fund type, economic growth, stock market performance, inflation and interest rate. Fund performance was negatively correlated with capital inflow to private equity market and fund size. Fund size and series are positively correlated. Performance persistency exists in private equity fund managers. Fund type is very important factor in analyzing private equity fund performance and persistency.

This study argues that existing constructs of psychological resilience of employees focus too narrowly on recovery from adverse events. Therefore, this paper aims to present an alternative construct in which resilience reflects an intention to grow as a person when facing both opportunities and difficulties. Initial evidence for a measure of growth-based resilience is presented.

In Study 1, a six-step scale development procedure was used. Items were generated deductively, and an exploratory factor analysis on data from a sample of 167 Indonesian managers was used to refine the scale structure. Study 2 validated the Study 1 results using a two-step confirmatory factor analysis, including structural equation modelling, involving a second sample of 241 Indonesian managers.

Study 1 suggested a scale using 16 items reflecting two dimensions, Developmental Persistency, involving perseverance and commitment to growth, and Positive Emotion. Study 2 generally confirmed the structure of this measure and produced expected correlations with other theoretically related constructs. Overall, the findings support the reconceptualisation of resilience as a response to life challenges and opportunities focussed on growing as a person.

Further testing of the validity of this construct is recommended, and its nomological network should be examined to clarify its relationship to related concepts such as hardiness, coping, thriving and similar qualities.

The growth-based perspective allows organisations to better assess and improve employee resilience as it more accurately reflects the nature of resilience as a fundamental “positive” dimension of human personality, where existing approaches focus merely on recovering from workplace adversities. An implication is that employee development efforts focussed more on personal development than specific work skills, or at least contextualising the latter in the person’s life context, will be more successful.

A more holistic view of resilience as the capacity for responding to life’s challenges and opportunities through personal growth resolves a number of issues created by existing recovery-based constructs.

The purpose of this paper is to provide an integrated analysis base to facilitate computational neuroscience experiments, following a user-led approach to provide access to the integrated neuroscience data and to enable the analyses demanded by the biomedical research community.

The design and development of the N4U analysis base and related information services addresses the existing research and practical challenges by offering an integrated medical data analysis environment with the necessary building blocks for neuroscientists to optimally exploit neuroscience workflows, large image data sets and algorithms to conduct analyses.

The provision of an integrated e-science environment of computational neuroimaging can enhance the prospects, speed and utility of the data analysis process for neurodegenerative diseases.

The N4U analysis base enables conducting biomedical data analyses by indexing and interlinking the neuroimaging and clinical study data sets stored on the grid infrastructure, algorithms and scientific workflow definitions along with their associated provenance information.

This paper seeks to focus on examining unit trust performance in Malaysia over the period 1991‐2001.

The broad based study covers full economic cycles using 7 different performance measures: raw return, market adjusted return, Jensen's alpha, adjusted Jensen's alpha, Sharpe Index, adjusted Sharpe Index, and Treynor Index.

The results show that on average the performance of Malaysian unit trust falls below market portfolio and risk free returns. However, the variance of unit trust monthly returns is less than the market. Performance by type of funds indicates that bond funds show relatively superior performance, over and above the market and equity unit trusts. This is due to the high interest rate kept during the crisis period. Findings also suggest that there is no persistency in performance as there is no significant inter‐temporal correlation between past and current performance.

The issue of inferior performance needs further investigations to adjust for great importance placed on maintaining consistent dividend distribution. In addition, ill‐managed funds must be separately analysed to see if limited budget, less qualified managers, use of limited information and less sophisticated software could explain the poor performance.

A very useful source of information for potential investors and portfolio management companies looking for opportunities to invest.

The paper contributes to the present body of knowledge by offering broad based performance evidence from an emerging market with strong government back up for unit trusts investment.

By studying a large number of citations in the LIS field, this paper seeks to examine carefully the persistence status of web resources specified by their domains and type of files.

All 2005‐2008 volumes of six LIS journals ranked by ISI Thomson Reuters were selected. From 1,181 papers, 37,791 citations were recorded. Only original articles, which had a list of references, were included in the study. The persistence of web citations was checked by directly following the cited URLs.

Of the 37,791 citations, 4,840 (12.8 percent) were web citations. The means per articles of web and print citations were 4.09, and 27.9, respectively. Of all web citations, 4,617 (95 percent) were readily persistent, and 5 percent returned errors and thus were not originally accessible. The relationship between the print and web citation over time (year) was significant. The most prevalent domain of citations was html and the most favorable and persistent file format was pdf.

The web resources are used for their easy accessibility and the support they provide for a scientific content. While direct accessibility to a web citation is not provided, many strategies are adopted to recover the dead citation. The issue is to what extent the authors rely on web resources and are they finished with citing paper‐based materials? Are web resources becoming replaced with their print counterparts? The study showed that scholars still rely more on print resources than on the web materials.

Tracking current trends in scholars' communication behavior shows a shift from print to web resources. The paper examines web citations persistence in some prestigious journals to show whether the web citations are reliable enough and always accessible in the digital world.

The American Accounting Association (AAA) Committee on Accounting and Auditing Measurement (1991) had recommended that value added be considered for mandatory disclosure in the US in addition to the income and cash flow statements. This study examines empirically the relative merits of derived performance indicator numbers from value added reporting, accrual accounting and cash flow accounting. The results show that the derived performance indicator numbers based on net value added had lower variability and higher persistency than corresponding numbers based on either earnings or cash flows of 673 US firms for the 1981–1990 period. These results and other related considerations argue strongly in favor of the recommendation of the AAA Committee.

This paper investigates the effect of household size, and in particular of the number of children of different age groups, on poverty, defined as being in a situation of low income. We apply various static and dynamic probit models to control for the endogeneity of the variables of interest and to account for unobserved heterogeneity, state dependence, and serially correlated error components. Using Luxembourg longitudinal data, we show that the number of children of different age groups significantly affects the probability of being poor. However, the magnitude of the effect varies across different specifications. In addition, we find strong evidence of true poverty persistency due to past experience, spurious poverty persistency due to individual heterogeneity, and transitory random shocks.

This paper aims to examine the influence of distribution systems and customer loyalty on firm performance.

Efficiency scores and profitability are used as the proxies for performance. The data envelopment analysis approach is used to calculate efficiency scores. The sample is from the Taiwanese life insurance industry.

The results suggest that a multiple distribution channel strategy performs worse than a single distribution channel strategy in terms of efficiency and profitability. It is also found that agent turnover rate is negatively related to technical efficiency, cost efficiency, and profitability. The evidence also suggests that insurers with higher customer loyalty perform better than insurers with lower customer loyalty.

The paper's results can assist insurers to make decisions on distribution channels and improve agent turnover rate and customer loyalty.

This research paper aims to explore asymmetric market efficiency of the 13 Euro countries, i.e. Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Netherland, Portugal, Slovakia, Slovenia and Spain, concerning the period before global financial crisis (GFC), after GFC and period of COVID-19 pandemic.

Multifractal detrended fluctuation analysis (MF-DFA) is applied to examine the persistence and anti-persistency. It also discusses the random walk behavior hypothesis of these 13 countries non-stationary time series. Additionally, generalized Hurst exponents are applied to estimate the relative efficiency between short- and long-run horizons and small and large fluctuations.

The current study results suggest that most countries' markets are multifractal and exhibit long-term persistence in the short and long run. Moreover, the results with respect to full sample confirm that Portugal is the most efficient country in short run and Austria is the least efficient country. However, in long run, Austria appeared to be highly efficient, and Slovakia is the least efficient. In the pre-GFC period, Greece is said to be the relatively most efficient market in the short run, whereas Austria is the most efficient market in the long run. In the case of Post-GFC, Netherland and Ireland are the most efficient markets in short and long run, respectively. Lastly, COVID-19 results indicate that Finland's stock market is the most efficient in short run. Whereas, in the long run, the high efficiency is illustrated by Germany. In contrast, the most affected stock market due to COVID-19 is Belgium.

This study will add value to the present knowledge on efficient market hypothesis (EMH) with the MF-DFA approach. Also, with the MF-DFA approach, potential investors will be capable of ranking the stock markets of Eurozone countries based on their efficiency in the period before and after GFC and then specifically in the period of COVID-19.

本研究旨在探討13個歐元區國家在環球金融危機前後, 以及2019新型冠狀病毒病肆虐時期之不對稱市場效率; 這13個國家包括: 奧地利、比利時、芬蘭、法國、德國、希臘、愛爾蘭、義大利、荷蘭、葡萄牙、斯洛伐克、斯洛維尼亞和西班牙。

研究人員使用多重分形去趨勢波動分析法、來探討持續性與反持續性。這分析法也用來討論正在研究中的13個國家的非平穩時間序列的隨機漫步假說; 而且, 廣義赫斯特指數被用來估算長期/短期投資與大/小波動之間的相對效率。

研究結果間接表明了大部份國家的市場都是多重分形的; 而且, 它們無論以短期抑或以長期來審視觀察, 均能展示持久性。再者, 就整體樣本而言, 研究結果確認了在短期來看, 葡萄牙是效率最高的國家, 而奧地利則效率最低。唯以長期來審視觀察, 奧地利則似乎效率很高, 而效率最低的則是斯洛伐克。在環球金融危機爆發前, 就短期而言, 希臘被認為是相對效率最高的市場, 而長期而言, 效率最高的則是奧地利。至於在環球金融危機爆發後, 就短期而言, 荷蘭是效率最高的市場, 而就長期而言, 效率最高的則是愛爾蘭。最後, 2019新型冠狀病毒病的結果顯示, 就短期而言, 荷蘭的股票市場是效率最高的, 而長期而言, 德國則展示了其高效率性。而受疫情影響最大的股票市場則是比利時。

研究採用了多重分形去趨勢波動分析法、來探討股票市場的效率, 並以此分析法來討論有關國家的非平穩時間序列的隨機漫步假說, 這使我們對效率市場假說有進一步的認識; 就此而言, 本研究為有關的探討增添價值; 而且, 有意投資者在使用多重分形去趨勢波動分析法下, 能夠基於歐元區國家的股票市場在環球金融危機前後, 以及更明確地在2019新型冠狀病毒病肆虐時期的效率, 來把這些股票市場分等級。

環球金融危機、2019新型冠狀病毒病、效率市場假說、多重分形去趨勢波動分析.

The purpose of this paper is to provide an evaluation of traineeships as an active labour policy for young people in Italy. The role of traineeships as a formative experience for improving youth employment is stated by law and the specific evaluation of the regional Quality Traineeships Programme allowed for a more in-depth analysis of the role quality criteria plays in traineeship implementation.

Such evaluation relies on administrative data, while a counterfactual approach was used to compare trainees to unemployed young people registered with Public Employment Services. The impact of traineeships on youth careers was measured in terms of employment probability, but innovatively, the actual placement was measured in terms of both hiring and along a “quality” metric with respect to entry in the labour market. It is reasonable to assume that young people are interested in traineeships as an investment towards a more satisfying career (not just as a gateway to recruitment). At last, the authors introduce a persistency analysis of the effects on youth employment rates.

The results show that traineeships hinder rapid transition to work, but they are effective stepping-stones for young people seeking a quality career. A benefit of 7 percentage points was estimated on the probability of finding a quality job after completing the traineeship and a long-lasting effect on trainees’ employment rate is demonstrated by the persistency analysis. These benefits are strengthened for participants in the Quality Traineeships Programme, confirming the relevance of desirable learning and contractual conditions in supporting the effectiveness of internships in Italy.

As far as the authors know, this paper is the first study that specifically refers to traineeships as an active policy in Italy and the questions resulting from the research suggest new trends in the debate over the role of policies for supporting youth employment. The administrative archives used in the analysis and the persistence effects on youth employment rates are further innovations to the empirical literature on the effectiveness of Italy’s training programmes.