Changes in college students' socioeconomic status aspirations during the COVID-19 pandemic

Although university students tend to be optimistic about their future socioeconomic status (SES), little is known how their SES aspirations changed during the context of the COVID-19 pandemic. Using latent growth curve modeling techniques, we examined changes in subjective SES aspirations for students who began college before the pandemic (cohort 1; Fall 2019) and students who began college during the pandemic (cohort 2; Fall 2020). Moreover, we assessed how SES indicators (i.e., subjective family SES; first-generation status; low-income status) and a contextual financial indicator (i.e., pandemic-related financial impacts) predicted changes in SES aspirations for both groups of students. Although SES aspirations were similar at the beginning of college for both groups of students, students who began college before the pandemic experienced a greater rate of downward change between the baseline assessment and the assessment shortly after the pandemic began. In both cohorts, students from higher-SES families had higher SES aspirations at the beginning of college and steeper rates of downward change. Furthermore, despite having similar SES aspirations at the beginning of college, first-generation students whose first year was interrupted by the pandemic experienced steeper downward changes in their SES aspirations. However, pandemic-related financial impacts did not predict this downward change for either cohort. Our findings suggest that uncertainty in the early stages of the pandemic may have led to cautiousness in students' aspirations for their future SES attainment, particularly for first-generation students.     

Double Reference Points: the Effects of Social and Financial Reference Points on Decisions Under Risk

The existing literature is inconsistent about how social comparison affects risk attitudes. We propose a framework where the total utility is composed of the social and financial utilities. The financial utility is consistent with prospect theory (i.e., an S‐shaped utility function with a financial reference point), whereas the social utility is affected by both social and financial reference points. Therefore, social risk attitudes are determined by interaction between gains/losses in both social and financial contexts. On the basis of safety‐first principle, we propose that when experiencing financial gains, individuals tend to seek upside potential and take social risks (i.e., a convex social utility function). In contrast, when facing financial losses, people would be more risk seeking in social gains but more risk averse in social losses to maximize security (i.e., an inverse S‐shaped utility function). We also propose that the relative importance of financial and social utilities depends on the saliency of the reference points and size of stakes. Studies 1 and 2 showed that individuals were risk seeking in both social gains and losses with social reference points alone. Studies 3 and 4 demonstrated that when both financial and social reference points were salient, participants were risk averse in both social gains and losses when facing financial gains, but risk seeking in social gains and risk averse in social losses when facing financial losses. The hypotheses derived from the theoretical framework were in general supported by our experiments. Copyright © 2015 John Wiley & Sons, Ltd.     

Dislocation formation in the partially coherent interfaces of an embedded layer in a semi-infinite matrix

The formation of two misfit edge dislocations is theoretically investigated in the interfaces of a layer embedded in a semi-infinite matrix. Assuming the matrix–layer interfaces are partially coherent, the energy variation resulting from the formation of the dislocations from the lateral free surface of the structure has been determined in the shearing stress field due to the partial misfit. The mechanical stability of the structure is analysed with respect to the dislocation formation as a function of the size of the coherent region of the interface and the misfit strain.     

Financial hardship and well-being: a cross-national comparison among the European self-employed

Based on data from the 2004 and 2010 European Social Survey, this multidisciplinary and cross-national comparative study investigates the relationship between financial hardship and subjective well-being among 9,755 self-employed individuals from 31 European countries. It also aims to identify potential mitigating factors in this relationship on both the individual and the country level. Multilevel regression analyses reveal a strong relationship between financial hardship and impaired well-being, explaining about 36% of variance in well-being between conditions (countries and time periods) and 8% of variance between individuals. In other words, economic conditions matter significantly. Additionally, education and social trust act as important buffering factors for individuals, and the relationship between financial hardship and impaired well-being is somewhat weaker for self-employed persons living in countries with a more supportive social policy in the form of unemployment allowance. Entrepreneurs can hence mitigate the consequences of financial hardship by protecting social resources, and policymakers can be advised to invest in education and social security.     

The mediating effect of leader-member exchange between strengths use and work engagement

This study investigated the mediating effect of leader-member exchange (LMX) (as perceived by subordinates) in the relationship between strengths use and work engagement. Participants numbered 213 employees in a South African financial organisation (females=53.10%, blacks=19.40%). Data on their perceptions of LMX, strengths use and work engagement were collected with the LMX-7, SUDIQ and UWES-17. Structural equation modelling methods with bootstrapping were used to determine the role of LMX in the relationship between strengths use and work engagement. Findings showed that perceived organisational support for strengths use (POSSU) had a positive relationship with both LMX and work engagement, and that LMX had a positive relationship with work engagement. Furthermore, LMX mediated the relationship between POSSU and work engagement, indicating the important role of high quality leader- member exchange in organisations.     

Relations between stress and work outcomes: The role of felt challenge, job control, and psychological strain

Recent research on reported work stress indicates stress may not always be deleterious for an individual or organization. Research in this area, however, has not yet examined a variety of work outcomes, the mechanism by which stress leads to such outcomes, and the moderators of this effect. The present study hypothesized that two types of reported stress (challenge- and hindrance-related) have a divergent relationship with work outcomes (relating to desirable and undesirable outcomes, respectively) and a similar (positive) relationship with psychological strain. We also hypothesize felt challenge as a mechanism through which challenge stress relates to desirable outcomes and job control as a moderator of the effect. Results from a heterogeneous sample of university staff employees (N=461) supported many of the hypotheses. The two types of stress differentially related to work outcomes yet both positively related to psychological strain. In addition, felt challenge mediated the relationship between challenge-related stress and work outcomes, yet the effect of challenge-related stress did not depend on job control.     

Moving Beyond Anger and Depression: The Effects of Anxiety and Envy on Maladaptive Coping

According to general strain theory (GST), life stressors, or strains, lead to different types of negative emotions, some of which increase the likelihood of maladaptive coping. A considerable body of research testing GST focuses on anger and depression as manifestations of negative emotionality. Less research considers other types of negative emotions (e.g., anxiety and envy). The current study addresses this void in the literature through the use of surveys administered to a university-based sample. We also consider whether the effects of negative emotions vary by sex. The implications of our findings for theory, research, and mental health providers are discussed.     

A taxonomy for financial services selling

The financial services industry accounts for almost half of the country’s nonfarm, commercial profit, making the industry a major driver of the economy. Prior to this study, limited information was available to evaluate financial services sales activities, and a taxonomy of sales activities for individuals in the financial services industry had not previously been conducted. Prior empirically developed sales taxonomies did not include service firms and specifically financial services, while focusing on manufacturing and other product sales. Given that taxonomies are a critical step in scientific inquiry, this is a major limitation in the literature hindering the development of a better understanding of this important industry. Using an established methodology and a seminal sales taxonomy, a financial services sales taxonomy was conducted. Results reflect that financial services sales positions differ from those in other industries. Six sets of sales activities (factors) along with six job positions (clusters) were identified.     

The influence of family environment and child temperament on work/family role strain for mothers and fathers

This study examined the additive effect of structural variables, child characteristics, and the family environment on mothers' and fathers' work/family role strain. Differences between mothers and fathers on these variables were also examined. The sample consisted of 36 dualearner families whose children had been in daycare from infancy through 4 years of age. Structural variables included work schedules and time spent with child for mothers only, fathers only, and both parents together with child. Child characteristics included temperament and health. Family environment variables included different components of the family environment (conflict, cohesion, expressiveness, organization, and control) and parenting daily hassles. Results showed that mothers' time with child and caregiving for child were greater than fathers'. Mothers reported more expressiveness in the family and more daily hassles with children than fathers. Mothers' level of role strain was also significantly higher than fathers'. For mothers, role strain was associated with hours away from home, child sociability, family conflict, and daily hassles resulting in an R² of 0.57. Fathers' role strain was associated with family expressiveness, organization, and their wives' daily hassles resulting in an R² of 0.37. Data suggest that mothers' and fathers' role strain may be driven by somewhat different factors. For women, aspects of the family and the child and work hours accounted for a considerable portion of the variance while for men, only aspects of the family environment were associated with their level of role strain. Copyright © 2003 John Wiley & Sons, Ltd.     

A multidimensional framework for financial–economic decisions

Most financial–economic decisions are made consciously, with a clear and constant drive to ‘good’, ‘better’ or even ‘optimal’ decisions. Nevertheless, many decisions in practice do not earn these qualifications, despite the availability of financial economic theory, decision sciences and ample resources. We plea for the development of a multidimensional framework to support financial economic decision processes. Our aim is to achieve a better integration of available theory and decision technologies. We sketch (a) what the framework should look like, (b) what elements of the framework already exist and which not, and (c) how the MCDA community can co‐operate in its development. Copyright © 2003 John Wiley & Sons, Ltd.