Portfolio Selection from Multiple Benchmarks: A Goal Programming Approach to an Actual Case

This paper deals with benchmark‐based portfolio choice for buy‐and‐hold strategies of investing. Multiple benchmarks for returns are considered, which is more realistic than taking a unique benchmark – a unique aspiration difficult to select in practice among the various aspirations for returns that the investor has in mind. Portfolio selection with multiple benchmarks leads to a multi‐objective problem, which is addressed by mean value – stochastic goal programming. In particular, two benchmarks are considered, which involves two goals. Weights for goals depend on investor's preferences and Arrow's absolute risk aversion coefficients. An efficient frontier of portfolios is obtained. Advantages of this stochastic method in our context are as follows: (i) Mean value‐stochastic goal programming relies on classical utility theory under uncertainty and Arrow's absolute risk aversion, which ensures soundness and strictness, and (ii) the numerical model is easily solved by using available software such as mean–variance software. Numerical results are tabulated and discussed. Copyright © 2011 John Wiley & Sons, Ltd.     

Indifference sets of reference points in multi‐objective integer linear programming

Reference point approaches for multi‐objective problems rely on the definition of an achievement scalarizing function that projects reference points onto the non‐dominated solution set. In this paper, we investigate the behaviour of reference points using a Tchebycheff metric‐based scalarizing function in multi‐objective pure integer linear programming (MOILP). Since the non‐dominated solutions are discrete in MOILP, there are multiple reference points that lead to the same solution, i.e. there are indifference sets on the reference point space. We investigate some properties of the reference points in MOILP and also the graphical representation of indifference sets for tri‐objective problems. We further investigate properties of the reference points when additional limitations on the objective function values are introduced. Copyright © 2001 John Wiley & Sons, Ltd.     

Divergence Behaviour of the Successive Geometric Mean Method of Pairwise Comparison Matrix Generation for a Multiple Stage,Multiple Objective Optimization Problem

This paper focuses on the divergence behaviour of the successive geometric mean (SGM) method used to generate pairwise comparison matrices while solving a multiple stage, multiple objective (MSMO) optimization problem. The SGM method can be used in the matrix generation phase of our three‐phase methodology to obtain pairwise comparison matrix at each stage of an MSMO optimization problem, which can be subsequently used to obtain the weight vector at the corresponding stage. The weight vectors across the stages can be used to convert an MSMO problem into a multiple stage, single objective (MSSO) problem, which can be solved using dynamic programming‐based approaches. To obtain a practical set of non‐dominated solutions (also referred to as Pareto optimal solutions) to the MSMO optimization problem, it is important to use a solution approach that has the potential to allow for a better exploration of the Pareto optimal solution space. To accomplish a more exhaustive exploration of the Pareto optimal solution space, the weight vectors that are used to scalarize the MSMO optimization problem into its corresponding MSSO optimization problem should vary across the stages. Distinct weight vectors across the stages are tied directly with distinct pairwise comparison matrices across the stages. A pairwise comparison matrix generation method is said to diverge if it can generate distinct pairwise comparison matrices across the stages of an MSMO optimization problem. In this paper, we demonstrate the SGM method's divergence behaviour when the three‐phase methodology is used in conjunction with an augmented high‐dimensional, continuous‐state stochastic dynamic programming method to solve a large‐scale MSMO optimization problem. Copyright © 2013 John Wiley & Sons, Ltd.     

digital career portfolios: expanding institutional opportunities

Faculty at a small university discussed digital portfolios for technology support students who were entering the senior year without a portfolio that illustrated their knowledge and skills for potential employers. Business leaders expressed the need for graduates to demonstrate technological skills and other critical competency areas. Recent trends replace the traditional résumés and portfolios with digital portfolios, which capture student accomplishments by electronic methods. The authors note that smaller institutions may not have the funding, administrative support, or technical support necessary for such large‐scale projects. They discuss how smaller institutions can provide students with opportunities to develop digital portfolios despite these constraints.     

Applicants' and Employees' Reactions to Corporate Social Responsibility: The Moderating Effects of First‐Party Justice Perceptions and Moral Identity

This research explored individuals’ reactions to perceived corporate social responsibility (CSR) using a multimotive framework. In 2 studies, the authors explored the boundary conditions of CSR effects among job applicants and internal employees. A scenario‐based experiment (N = 81) showed that the effect of CSR perceptions on job applicants’ job pursuit intentions was mitigated by applicants’ first‐party justice experiences, whereas it was amplified by their moral identity (Study 1). Survey data from 245 full‐time employees (Study 2) further supported the interactive effects revealed in Study 1. Specifically, first‐party justice perceptions attenuated the positive relationship between employees’ CSR perceptions and their organizational citizenship behavior (OCB); and the relationship between CSR perceptions and OCB was more pronounced among employees high (versus low) in moral identity. Our findings bridge the CSR and organizational justice literatures, and reveal that the effects of individuals’ CSR perceptions are more complicated than previously thought. The findings shed light on micro (employee)‐level CSR phenomena and offer implications for both research and practice.     

Can I leave my hat on? A cross-level study of multiple team membership role separation

This article conceptualizes role separation in multiple team membership (MTM) (i.e., the extent to which a multiteamer's role within a focal team is different from his/her role in another team) as a key predictor of individual and team outcomes. Existing literature on MTM focuses primarily on the total number of concurrent teams that an individual contributes to, and thus largely ignores the potential diversity that may characterize MTM. In Study 1, we develop and validate a measure of MTM role separation that reflects differences in (a) expected work results; (b) team collaboration; (c) leader expectations; and (d) client and/or customer characteristics. In Study 2, we use field data to examine the cross-level implications of MTM role separation. As expected, we find that MTM role separation is positively related to a multiteamer's role ambiguity within a focal team and, by extension, harms the performance of the entire focal team. This indirect relationship is not observed when a focal team's teamwork quality (TWQ) is high. We discuss how these findings advance our understanding of the multifaceted and multi-level nature of MTM and help multiteamers, team leaders, and organizations deal with MTM's challenges.     

The effect of Multi Convergent Therapy on the psychopathology,mood and performance of Chronic Fatigue Syndrome patients: A preliminary study

Objectives: Multi Convergent Therapy combines approaches such as Cognitive Behaviour Therapy and Graded Exercise Therapy in an holistic treatment of Chronic Fatigue Syndrome. Initial follow‐up data showed that patients were benefiting from this individualised form of therapy. The objective of the present study was to evaluate this Multi Convergent approach, developed at a specialised Chronic Fatigue Syndrome Outpatient clinic in Cardiff, and compare it to Relaxation Therapy and control groups using multiple outcome measures. Design: Thirty‐five participants fitting the Centre for Disease Control criteria for Chronic Fatigue Syndrome were recruited from two outpatient clinics and members of our existing patient panel. Patients were assigned to Multi Convergent Therapy (N=12), Relaxation Therapy (N=14) or recruited as controls (N=9). Methods: Each patient completed a battery of mood and performance tasks along with comprehensive set of questionnaires at baseline, post‐treatment and at six‐month follow‐up. These measures had been validated in previous studies on untreated patients and matched healthy controls. Results: Patients attending the Multi Convergent Therapy clinic showed statistically significant improvements in many of our measures. Most importantly we have produced data indicating that Multi Convergent Therapy provides improvements in objective measures of psychomotor performance and cognition. Discussion: The outcomes of this small study are encouraging. Multi Convergent Therapy has not only produced results indicating significant improvements in standardised questionnaire based measures but also in objective cognitive performance tasks. The next step would be to assess Multi Convergent Therapy at the primary medical care level, with a greater number of patients to further evaluate its efficacy as a treatment for Chronic Fatigue Syndrome.     

Impact of consumers' corporate social responsibility‐related activities in social media on brand attitude,electronic word‐of‐mouth intention,and purchase intention: A study of Chinese consumer behavior

This study examines how consumers' corporate social responsibility (CSR)‐related activities in social media affect their responses to brands. We defined consumers' CSR‐related activities in social media as the extent to which consumers use social media to engage in CSR communication by companies. An online survey was conducted to examine social media users in China, the largest consumer market in today's global economies. This study developed a theoretical model and empirically tested the relationships between consumers' CSR‐related activities in social media, identification with the brand, and three consumer behavior outcomes: electronic word‐of‐mouth (eWOM) intention, brand attitude, and purchase intention. The results suggested that consumers' CSR‐related activities in social media significantly impacted eWOM intention and purchase intention through enhancing identification with the brand and positive brand attitude. This study provides important insights on consumer behavior and CSR by investigating social media, an important and emerging marketing platform. Moreover, this study fills in the research gap about the association between consumers' CSR‐related activities in social media and their responses to brands. Theoretical and managerial implications for CSR strategies in social media are discussed.     

Evaluation of Multi-parameter Test Statistics for Multiple Imputation

In Ordinary Least Square regression, researchers often are interested in knowing whether a set of parameters is different from zero. With complete data, this could be achieved using the gain in prediction test, hierarchical multiple regression, or an omnibus F test. However, in substantive research scenarios, missing data often exist. In the context of multiple imputation, one of the current state-of-art missing data strategies, there are several different analogous multi-parameter tests of the joint significance of a set of parameters, and these multi-parameter test statistics can be referenced to various distributions to make statistical inferences. However, little is known about the performance of these tests, and virtually no research study has compared the Type 1 error rates and statistical power of these tests in scenarios that are typical of behavioral science data (e.g., small to moderate samples, etc.). This paper uses Monte Carlo simulation techniques to examine the performance of these multi-parameter test statistics for multiple imputation under a variety of realistic conditions. We provide a number of practical recommendations for substantive researchers based on the simulation results, and illustrate the calculation of these test statistics with an empirical example.     

Multiple objective programming with piecewise linear functions

An approach to generating all efficient solutions for multiple objective programs with piecewise linear objective functions and linear constraints is presented. The approach is based on the decomposition of the feasible set into subsets, referred to as cells, so that the original problem reduces to a series of single objective linear programs and feasibility tests over the cells. The concepts of cell-efficiency and complex-efficiency are introduced and their relationship with efficiency is examined. A generic algorithm for finding efficient solutions for bi-objective piecewise linear programs is proposed. Applications in location theory as well as in worst case analysis are highlighted. Copyright © 1999 John Wiley & Sons, Ltd.     

An Extension of Multiple Correspondence Analysis for Identifying Heterogeneous Subgroups of Respondents

An extension of multiple correspondence analysis is proposed that takes into account cluster-level heterogeneity in respondents’ preferences/choices. The method involves combining multiple correspondence analysis and k-means in a unified framework. The former is used for uncovering a low-dimensional space of multivariate categorical variables while the latter is used for identifying relatively homogeneous clusters of respondents. The proposed method offers an integrated graphical display that provides information on cluster-based structures inherent in multivariate categorical data as well as the interdependencies among the data. An empirical application is presented which demonstrates the usefulness of the proposed method and how it compares to several extant approaches. The work reported in this paper was supported by Grant 290439 and Grant A6394 from the Natural Sciences and Engineering Research Council of Canada to the first and third authors, respectively. We wish to thank Ulf B?ckenholt, Paul Green, and Marc Tomiuk for their insightful comments on an earlier version of this paper. We also wish to thank Byunghwa Yang for generously providing us with his data.     

Identity Importance and the Overreporting of Religious Service Attendance: Multiple Imputation of Religious Attendance Using the American Time Use Study and the General Social Survey

The difference between religious service attendance measured using conventional surveys and time diaries has been attributed to identity processes; a high level of religious identity importance may prompt overreporting on a survey question. This article tests the hypothesized role of identity importance as an individual determinant of overreporting and the result of socially desirable behavior. A time diary measure of attendance (from the American Time Use Study 2003–2008) is imputed for conventional survey data (from the General Social Survey 2002–2008) using the multiple imputation for multiple studies procedure ( Gelman, King, and Liu 1998a ). Logistic regression models predicting self‐reported attendance and overreported attendance are estimated using identity importance as a key covariate and controlling for demographic variables associated with attendance. Identity importance is a strong predictor of both self‐reported and overreported attendance. Attendance, while a biased measure of actual behavior, may be a good indicator of religiosity.     

Evaluating the desirability of meals: an illustrative multiattribute decision analysis procedure to assess portfolios with interdependent items

This paper presents an exploratory study designed to address complex scaling problems in applying value/utility theory to measuring preferences over alternative combinations (or portfolios) of multiattributed items. This application considers meals served to nursing home residents as portfolios of food items and seeks to maximize meal appeal. We consider food interrelation and link single food measurements to overall meal measurements in the process of constructing meal desirability scales. We test the resulting scales to capture one expert's professional judgments and discuss issues raised in this specific application in the context of general portfolio evaluation problems. © 1998 John Wiley & Sons, Ltd.     

Enhancing Well‐being of Homeless Individuals by Building Group Memberships

There is growing recognition that social isolation and a lack of connectedness with social groups is one of the reasons why the subjective well‐being of homeless individuals is generally worse than the rest of the population. Past research amongst a range of populations suggests that the ability of an individual to take on new group memberships and/or their ability to maintain their memberships in meaningful groups is an important predictor of well‐being. In a mixed method study (N = 119), we examined the extent to which experiences at homeless accommodation form building blocks for the formation of multiple group memberships and to what extent this predicts positive well‐being. Qualitative analysis reveals the importance of feeling connected to the homeless service and supported by homeless accommodation staff. Linking these data to quantitative data from a second wave, we found that these experiences predicted well‐being. These findings provide further support for a strength‐based approach to homelessness, by providing insights into the ways that experiences at homeless accommodation can contribute to the development of multiple group memberships (i.e. social capital), and enhance the well‐being of those experiencing, and exiting, homelessness. Copyright © 2016 John Wiley & Sons, Ltd.     

Thinking about multiple identities boosts children’s flexible thinking

Studies of children's developing social identification often focus on individual forms of identity. Yet, everyone has multiple potential identities. Here we investigated whether making children aware of their multifaceted identities—effectively seeing themselves from multiple angles—would promote their flexible thinking. In Experiment 1, 6‐ to 7‐year‐old children (N = 48) were assigned to either a Multiple‐Identities condition where they were led to consider their multiple identities (e.g. friend, neighbor) or to a Physical‐Traits condition where they considered their multiple physical attributes (e.g. legs, arms). Children in the Multiple‐Identity condition subsequently expressed greater flexibility at problem‐solving and categorization than children in the Physical‐Traits condition. Experiment 2 (N = 72) replicated these findings with a new sample of 6‐ to 7‐year‐old children and demonstrated that a Multiple‐Identity mindset must be self‐relevant. Children who were led to think about another child's multiple identities did not express as much subsequent creative thinking as did children who thought about their own multiple identities. Experiment 3 (N = 76) showed that a Mmultiple‐Identity framework may be particularly effective when the identities are presented via generic language suggesting that they are enduring traits (in this case, identities depicted as noun phrases rather than verbal phrases). These findings illustrate that something as simple as thinking about one's identity from multiple angles could serve as a tool to help reduce rigid thinking, which might increase open‐mindedness in a society that is becoming increasingly diverse.     

More Than Happy to Help? Customer‐Focused Emotion Management Strategies

This paper investigates the impact of customer service representative (CSR) customer‐focused emotion management strategies on expressed customer emotions, beyond the influences of emotional contagion. We propose that problem‐focused strategies (situation modification and cognitive change) are likely to reduce the intensity of negative customer emotions and increase the intensity of positive customer emotions, whereas emotion‐focused strategies (attentional deployment and modulating the emotional response) will have the opposite impact. Further, we propose that customer negative emotions will affect the choice of strategies CSRs employ. Based on evaluator ratings of recorded customer service calls (N= 228), our findings confirmed the positive effects of problem‐focused strategies and the negative effects of emotion‐focused strategies on customer‐expressed emotions. In addition, we found that initial customer emotions affected the strategy used by the CSR, whereby negative emotions expressed by the customer reduced the use of the most effective strategy and increased the use of the least effective strategy.     

档案袋评价中评分者信度的实证研究

档案袋评价因能充分发挥促进学生发展和教学改进的功能而受到青睐,但不佳的测评信度和效度限制了其在教学评价中的应用。本文对档案袋评分者信度的特点进行实证研究,4位评分者对152份档案袋进行了2次等级评分,运用多种统计方法计算评分者信度。结果表明,档案袋的评分有较高的关联性、中等偏弱的一致性和一定的稳定性,对档案袋整体水平的评分信度最高。本研究中,评分者个数为3时,对档案袋整体水平评分的概化系数和可靠性系数都在0.80以上。     

The influence of retailer size on consumer responses to social responsibility initiatives

The current research demonstrates that retailer size moderates the positive effect of corporate social responsibility (CSR) initiatives on consumer outcomes such as increased purchase intentions and perceptions of CSR. Retailer size is introduced as a factor that leads consumers to respond more positively to small retailers' CSR activities, relative to CSR from large retailers. We also provide support for the ability of consistency/commitment to CSR to serve as a means by which larger retailers can counter their size liability. We replicate and generalize these results across multiple CSR forms. Implications for retail management and future research are discussed.     

The direct and indirect benefits of dispositional mindfulness on self-esteem and social anxiety

This study investigated the long‐term health effects of combat stress reaction (CSR) among Israeli CSR casualties (112) and control veterans (184) of the 1973 Yom Kippur war. Posttraumatic stress disorder (PTSD), physical symptoms, and adverse health practices were examined 18 years after the war. The relationship between CSR, PTSD, physical symptoms and adverse health practices was examined via hierarchical linear regression. Findings indicate that although CSR was positively associated with more current physical symptoms and adverse health practices in univariate analyses, these associations were not significant once demographic differences between the groups were controlled. In contrast, current PTSD symptoms were positively associated with current physical symptoms (p < 0.001) and showed a trend association with adverse health practices (p = 0.06). PTSD was the most powerful predictor of current physical symptoms and appears to mediate the association between CSR and physical symptoms almost two decades after the war. Both combat stress reaction and the results of the study were discussed in the light of the theory of Conservation of Resources (COR).     

Help yourself by helping others: The joint impact of group member organizational citizenship behaviors and group cohesiveness on group member objective task performance change

This paper examines how a group member's individual‐targeted citizenship behavior (OCBI) and organization‐targeted citizenship behavior (OCBO) interact with a salient group‐level contextual variable, group cohesiveness, to foster positive change for that group member, starting with job self‐efficacy change, and followed by objective task performance change. Over a span of 6 months, we engaged in multilevel, multisource, multistage data collection and surveyed 587 members in 83 work groups. Our results indicate that a group member's OCBI, in comparison with OCBO, is more positively related to his or her job self‐efficacy change. Group cohesiveness was found to attenuate the relationship between a group member's OCBI and job self‐efficacy change, and conversely, to accentuate the relationship between a group member's OCBO and job self‐efficacy change. Furthermore, a group member's job self‐efficacy change mediated the interactive effects of the group member's OCBI and group cohesiveness (as well as the group member's OCBO and group cohesiveness) on his or her objective task performance change.