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The Hausman test is used in applied economic work as a test of misspecification. It is most commonly thought of as a test of whether one or more explanatory variables in a regression model are endogenous. The usual Hausman contrast test requires one estimator to be efficient under the null hypothesis. If data are heteroskedastic, the least squares estimator is no longer efficient. The first option is to estimate the covariance matrix of the difference of the contrasted estimators, as suggested by Hahn, Ham, and Moon (2011). Other options for carrying out a Hausman-like test in this case include estimating an artificial regression and using robust standard errors. Alternatively, we might seek additional power by estimating the artificial regression using feasible generalized least squares. Finally, we might stack moment conditions leading to the two estimators and estimate the resulting system by GMM. We examine these options in a Monte Carlo experiment. We conclude that the test based on the procedure by Hahn, Ham, and Moon has good properties. The generalized least squares-based tests have higher size-corrected power when heteroskedasticity is detected in the DWH regression, and the heteroskedasticity is associated with a strong external IV. We do not consider the properties of the implied pretest estimator.

The purpose of this paper is to study the attributes that influence perceptions of customer service in the retail banking setting from a non‐customer perspective.

This research employs a mystery shopping approach to identify and measure key service attributes that predict the likelihood of an individual's choosing a banking location.

The measures employed accurately predicted positive and negative outcomes based on respondent choices. The data suggest that personal elements of service may be of critical importance in cultivating new customer relationships.

Existing research related to bank service primarily focuses on customers in the context of their existing institutional relationship. This study examines a largely unexplored area of service, specifically, the issues most important to prospective customers with regard to banking choices.

Advances in Econometrics is a series of research annuals first published in 1982 by JAI Press. In this paper, we present a brief history of the series over its first 30 years. We describe key events in the history of the volume, and give information about the key contributors: editors, editorial board members, Advances in Econometrics Fellows, and authors who have contributed to the great success of the series.

This study examines the relationships between joint work commitments, job satisfaction, and job performance of lawyers employed by private law firms in Israel. Based on Morrowʼs (1993) concept of five universal forms of commitment, their interrelationship was tested with respect to the commitment model of Randall and Cote (1991), which appeared to show in previous studies (Cohen, 1999, 2000) a better fit compared to other models. In addition, the study examined the relationship between the commitment model and work attitude and outcome, namely, job satisfaction and job performance. The results show that the commitment model of Randall and Cote was almost fully supported, except for the relationship between job involvement and continuance commitment. This relationship is better understood via career commitment. An interesting finding of this study is that job satisfaction has a mediating role in the relationship between joint work commitment and job performance. The article concludes with suggestions regarding further investigation of the interrelationships between work commitment constructs, and the relationship between joint commitment forms, job satisfaction, and job performance.

Management training and development is currently in vogue. There appears to be a growing belief in the benefits of investment in training and development. When a market is buoyant is the time to consider and anticipate the consequences of a future downturn in demand. Such a downturn in demand may demonstrate increasing pressure to “justify” investment in training and development. There is a long established academic body of knowledge on the subject of evaluating training and development. From research evidence and the authors′ experience, the sponsors and the providers of training and development pay scant attention to systematic evaluation of these activities and investments. It is the authors′ contention that when the market′s critical assessment of the value of training and development increases there will be an increasing interest in evaluation. An overview of the history of evaluation traditions is provided and the state of play is commented upon. It is noted that there is a shortfall between theory and practice. It is argued that evaluation is a worthwhile and important activity and ways through the evaluation literature maze and the underpinnings of the activity are demonstrated, especially to management. Similarly the literature on evaluation techniques is reviewed. Tables are provided which demonstrate areas of major activity and identify relatively uncharted waters. This monograph provides a resource whereby practitioners can choose techniques which are appropriate to the activity on which they are engaged. It highlights the process which should be undertaken to make that choice in order that needs of the major stakeholders in the exercise are fully met.

It appears that of late the consumption of bread has fallen in this country; and I find that a scheme of advertising the necessity for eating more bread has been decided upon by the Association of Millers, and is now in operation.