Exploring the conditional performance of UK unit trusts

We evaluate the conditional performance of U.K. equity unit trusts using the approach of Lynch and Wachter (2007, 2008) relative to three conditional linear factor models. We find significant time variation in the conditional performance of some trust portfolios and individual trusts using the lag term spread as the information variable. The conditional performance of the trusts is countercyclical and larger trusts have more countercyclical performance than smaller trusts within certain investment sectors. These patterns in conditional trust performance cannot be fully explained by the underlying securities that the trusts hold.

Psychological bonds and their impact on behavioral loyalty in auditor-client relationships

Purpose – The purpose of this paper is to examine the effect of the psychological bond on behavioral loyalty (word-of-mouth, continuance and non-audit services) to audit firms providing services to companies listed on the Polish Stock Exchange. Design/methodology/approach – A model is proposed and tested using structural equation modeling with LISREL. Data were collected from top executives of companies listed on the Warsaw Stock Exchange. Findings – The psychological bond has a positive effect on word-of-mouth, continuance and non-audit services. Research limitations/implications – The current research is limited to the investigation of the psychological bond as an antecedent of behavioral loyalty in Poland. Future research should identify and assess other antecedents and replicate these across different countries. A longitudinal survey across different points in time might reveal more useful information about auditor-client relationships. Practical implications – Auditors need to consider ways in which they can develop the psychological bond with their clients. This bond is the basis for the client believing the audit firm is superior to others, which has been found to lead to behavioral loyalty in this study. In particular, management of the auditor brand and reputation, personal experience of the audit firm and alumni relations are discussed as ways of enhancing the psychological bond among client executives. Originality/value – This study is the first to examine the impact of the psychological bond on behavioral loyalty in auditor-client relationships.

Tied to the job: affective and relational components of nurse retention

Paper investigates whether affective and relational components of nurses' experience of work have a significant impact on their intentions to leave either the job or the nursing profession in models that control for other factors (sociodemographic, work conditions, perceptions of quality of care) that are known to affect career decisions. [Abridged Abstract]

Developing “middle leaders” in the public services? The realities of management and leadership development for public managers

Purpose – This paper aims to assess the actual contribution to organisational change of management and leadership development (MLD) activity for middle managers (MMs) in public service organisations (PSOs). Design/methodology/approach – Using the case study approach, the paper compares the content and outcomes of management and leadership training interventions for MMs in two large PSOs. The organisations, a fire brigade and a train operating company, are leaders in their sectors with respect to management development and “modernisation” of their services. Findings – The paper demonstrates how, in one case, MM development was largely an exercise in regulatory compliance, with little effect on individual MMs' performance or organisational outcomes. The second case demonstrates how MMs were effectively trained to enforce specific human resource policies which contributed to the successful implementation of top-down strategy yet paid little attention to the potential leadership role of MMs. Research limitations/implications – The paper highlights the need for further contextualised research at organisational level into the outcomes of MLD, especially in terms of different public service contexts. Practical implications – The paper demonstrates the dangers of designing and implementing development programmes without sufficient regard to professional practice and the realities of managerial discretion in PSOs. Originality/value – The paper provides an in-depth and contextualised insight into the conditions for success and failure in management development interventions in PSOs.

Law in the community: the University of Greenwich/Greenwich Association of Disabled People Centre for Independent Living (GAD) research project

The GAD Advocacy Service is funded by the London Borough of Greenwich Directorate of Neighbourhood Services; its remit to support disabled people experiencing Hate Crime, Domestic Violence and Harassment. Run by disabled personnel and giving advice to all disabled people it is unique in London. Since its inception in 2004, the Advocacy Service has been stretched to its limit - there is a need to extend the remit of the Advocacy Service to give specialist legal advice on other issues. In 2003, the CEDRM-UK project was set up in the University of Greenwich Law Department as part of the Disability Rights Promotion International Legal Education and Research Project; its objectives were firstly, to facilitate the collection of data on the effectiveness of legislation in promoting the rights of disabled persons; and secondly, to pilot new methods in teaching and training in Human Rights Law – students acquire an expertise in Human Rights Law through research into the practical application of legislation relating to civil and human rights in the daily life of the community. In July 2007, GAD and CEDRM-UK embarked on a joint project to report on the work of the Advocacy Service and to create a database to support its caseload. The 2008-9 Project team will report on their work and findings relating to facilitating equality in the workplace; the inclusion of cancer, HIV and multiple sclerosis within the legal definition of disability and the implications of the statutory duty to promote disability equality for the provision of extracurricular activities for schoolchildren. [From the Author]

The interprofessional practitioner: changing professional identity in social work

Twenty years ago the first joint training programme in learning disability nursing and social work was established as a collaborative project to develop practitioners able to work holistically with people with learning disabilities. Since then a number of programmes have continued this work and more recently the approach has developed in the mental health specialism. These programmes have changed the nature of singular social work education and created a new region of knowledge (Bernstein, 2000) for those who have experienced them. What began as a radical experiment in interprofessional education has been sustained by a strong commitment to the belief that the practitioners who qualify from such programmes are well equipped to support people with learning disabilities in changing and multi-professional services. As with much interprofessional education, however, there is an ongoing need to build an evidence base linking such education with successful outcomes in practice. This paper presents and explores the outcomes of a doctoral research study aimed at evaluating the impact of joint training in learning disability nursing and social work on the professional identity, skills and working practices of practitioners who undertook it. The research was undertaken with almost fifty jointly trained practitioners and involved a national survey followed by semi-structured interviews. The results suggest that practitioners who experience the dual socialisation inherent in this type of training found both gains and losses in the process. They appear to emerge, however, with a confidence, resilience and breadth of knowledge which were part of the early vision for this transformative approach to professional training. Bernstein B. (2000). Pedagogy, Symbolic Control and Identity. Theory, Research, Critique. Revised Edition. Lanham: Rowman and Littlefield (USA).

'Tell me Your story applied': ethics in narrative research with young fathers

There has been a significant increase of interest in parents who are considered to be outside of normative discourses; specifically the 'moral panic' relating to an increase in the demography of teenage mothers in the UK (SEU, 1999, 2003; Swann et al., 2003). Recently research has turned to the experiences of parenting from the father's perspective (Daniel and Taylor, 1999, 2001) although there remains a significant gap focusing on the experiences of young fathers. It is argued by Swann et al. (2003) that young fathers are a difficult group to access and this has limited the amount and type of studies conducted with many studies on young parents looking at the role of the father through the eyes of the mother. This contribution focuses on the use of narrative interviews with a small group of young, vulnerable, socially excluded fathers who are users of the statutory social services in the UK. The article looks specifically at the ethics and practical challenges of working with this group and offers insights into the use of the narrative method and the ethical dilemmas resulting from it.