Unveiling faculty conceptions of academic risk taking:a phenomenographic study

Among recent developments in the field of higher education is the emergence of New Public Management and of what has been labelled as ‘risk university’. The aim of this paper is to redress the lack of discussion over the role that risk taking plays in academic practice by exploring what faculty understand academic risk taking to be and how they enact this understanding in their tasks. Drawing on a phenomenographic perspective and semi-structured interviews with 20 faculty members from a high-profile UK university, we find that academic risk taking is experienced in four qualitatively different ways. Our results suggest that although academics engage in relatively similar endeavours, they exhibit various approaches to these endeavours due to their different conceptions of what constitutes academic risk taking. These findings have implications for the literature on identity construction and the debate over how the greater accountability of academic activity is affectively experienced.

Risk homeostasis theory in simulated environments

This thesis has two aims. First, it sets out to develop an alternative methodology for the investigation of risk homeostasis theory (RHT). It is argued that the current methodologies of the pseudo-experimental design and post hoc analysis of road-traffic accident data both have their limitations, and that the newer 'game' type simulation exercises are also, but for different reasons, incapable of testing RHT predictions. The alternative methodology described here is based on the simulation of physical risk with intrinsic reward rather than a 'points pay-off'. The second aim of the thesis is to examine a number of predictions made by RHT through the use of this alternative methodology. Since the pseudo-experimental design and post hoc analysis of road-traffic data are both ill-suited to the investigation of that part of RHT which deals with the role of utility in determining risk-taking behaviour in response to a change in environmental risk, and since the concept of utility is critical to RHT, the methodology reported here is applied to the specific investigation of utility. Attention too is given to the question of which behavioural pathways carry the homeostasis effect, and whether those pathways are 'local' to the nature of the change in environmental risk. It is suggested that investigating RHT through this new methodology holds a number of advantages and should be developed further in an attempt to answer the RHT question. It is suggested too that the methodology allows RHT to be seen in a psychological context, rather than the statistical context that has so far characterised its investigation. The experimental findings reported here are in support of hypotheses derived from RHT and would therefore seem to argue for the importance of the individual and collective target level of risk, as opposed to the level of environmental risk, as the major determinant of accident loss.

A flexible cost function model with risk

In examining bank cost efficiency in banking inclusion of risk-taking of banks is very important. In this paper we depart from the standard modeling approach and view risk intimately related to the technology. Thus, instead of controlling for risk by viewing them as covariates in the standard cost function we argue that the technology differs with risk, thereby meaning that the parameters of the parametric cost function changes with risk in a fully flexible manner. This is accomplished by viewing the parameters of the cost function as nonparametric functions of risk. We also control for country-specific effects in a fully flexible manner by using them as arguments of the nonparametric functions along with the risk variable. The resulting cost function then becomes semiparametric. The standard parametric model becomes a special case of our semiparametric model. We use the above modeling approach for banks in the EU countries. Actually, European financial integration is seen as a stepping stone for the development of a competitive single EU market that promotes efficiency and increases consumer welfare, changing the risk profile of the European banks. Particularly, financial integration allows more risk diversification and permits banks to use more advanced risk management instruments and systems, however it has at the same time increased the probability of systematic risks. Financial integration has increased the risk of contagion and changed its nature and scope. Consequently the bank’s risk seems to be an important issue to be investigated.

Moral hazard, dividends, and risk in banks

In non-financial firms, higher risk taking results in lower dividend payout ratios. In banking, public guarantees may result in a positive relationship between dividend payout ratios and risk taking. I investigate the interplay between dividend payout ratios and bank risk-taking allowing for the effect of charter values and capital adequacy regulation. I find a positive relationship between bank risk-taking and dividend payout ratios. Proximity to the required capital ratio and a high charter value reduce the impact of bank risk-taking on the dividend payout ratio. My results are robust to different proxies for the dividend payout ratio and bank risk-taking. © 2014 John Wiley & Sons Ltd.

Taking risks in the face of uncertainty:an exploratory analysis of green innovation

The relationship between uncertainty and firms’ risk-taking behaviour has been a focus of investigation since early discussion of the nature of enterprise activity. Here, we focus on how firms’ perceptions of environmental uncertainty and their perceptions of the risks involved impact on their willingness to undertake green innovation. Analysis is based on a cross-sectional survey of UK food companies undertaken in 2008. The results reinforce the relationship between perceived environmental uncertainty and perceived innovation risk and emphasise the importance of macro-uncertainty in shaping firms’ willingness to undertake green innovation. The perceived (market-related) riskiness of innovation also positively influences the probability of innovating, suggesting either a proactive approach to stimulating market disruption or an opportunistic approach to innovation leadership.

Management of nut allergy influences quality of life and anxiety in children and their mothers

Nut allergy is known to impact on the quality of life (QoL) and anxiety of both the allergic child and their parents, but little is known about how the management of food allergy is associated with these variables. To investigate the impact of nut allergy on QoL and anxiety in mothers and children with nut allergy in order to identify management strategies that may influence these factors. Forty-one nut allergic children (age 6–16 yrs) and their mothers completed questionnaires to assess maternal and children’s QoL (PedsQL™, WHOQOL-BREF, FAQL-PB), anxiety (SCAS, STAI) and perceived stress scale (PSS). Children also completed a nut allergy specific QoL questionnaire. Demographic data, details of previous reactions, test results and management plans were collected using parent-report questionnaires and hospital notes. Children with nut allergy had poorer emotional (p = 0.004), social (p = 0.043), and psychological (p = 0.006) QoL compared to healthy normative data. Maternal and child QoL and anxiety were not influenced by the severity of previous reactions. Mother and child reported lower anxiety (p = 0.043 and p < 0.001 respectively) when the child was prescribed an epinephrine auto-injector. Anxiety was not associated with whether the child carried the auto-injector or whether they strictly avoided traces of nuts in foods. Prescribing auto-injectors is associated with reduced anxiety for food allergic children and their mothers, but is not associated with improved adherence with medical management or reduced risk-taking behavior.

Growth aspirations and social capital:young firms in a post-conflict environment

This article explores the growth aspirations of owners and managers of young firms in a post-conflict economy by focusing on social capital. It treats social capital as a multidimensional, multilevel phenomenon, studying the effects of discussion network characteristics, trust in institutions, generalised trust in people and local ethnic pluralism. We argue that in a post-conflict country, ethnic pluralism is indicative of local norms of tolerance towards experimentation and risk taking which support growth aspirations. It also distinguishes between the aspirations of hired managers and owners-managers. The empirical counterpart and hypotheses testing rely on survey evidence drawn from young businesses in Bosnia and Herzegovina.

Assessing personal financial management in patients with bipolar disorder and its relation to impulsivity and response inhibition

Introduction: Impulsivity and risk-taking behaviours are reported in bipolar disorder (BD). We examined whether financial management skills are related to impulsivity in patients with BD. Methods: We assessed financial management skills using the Executive Personal Finance Scale (EPFS), impulsivity using the Barratt Impulsiveness Scale (BIS) and response inhibition using an emotional go/no-go task in bipolar individuals (N = 21) and healthy controls (HC; N = 23). Results: Patients had fewer financial management skills and higher levels of impulsivity than HC. In patients and controls, increased impulsivity was associated with poorer personal financial management. Patients and HC performed equally on the emotional go/no-go task. Higher BIS scores were associated with faster reaction times in HC. In patients, however, higher BIS scores were associated with slower reaction times, possibly indicating compensatory cognitive strategies to counter increased impulsivity. Conclusions: Patients with BD may have reduced abilities to manage personal finances, when compared against healthy participants. Difficulty with personal finance management may arise in part as a result of increased levels of impulsivity. Patients may learn to compensate for increased impulsivity by modulating response times in our experimental situations although whether such compensatory strategies generalize to real-world situations is unknown.

Ownership identity, strategy and performance:business group affiliates versus independent firms in India

We consider whether the impact of entrepreneurial orientation on business performance is moderated by the company affiliation with business groups. Within business groups, we explore the trade-off between inter-firm insurance that enables risk-taking, and inefficient resource allocation. Risk-taking in group affiliated firms leads to higher performance, compared to independent firms, but the impact of proactivity is attenuated. Utilizing Indian data, we show that risk-taking may undermine rather than improve business performance, but this effect is not present in business groups. Proactivity enhances performance, but less so in business groups. Firms can also enhance performance by technological knowledge acquisition, but these effects are not significantly different for various ownership categories.

'Taking a sickie':Job satisfaction and job involvement as interactive predictors of absenteeism in a public organization

Correlations between absenteeism and work attitudes such as job satisfaction have often been found to be disappointingly weak. As prior work reveals, this might be due to ignoring interactive effects of attitudes with different attitude targets (e.g. job involvement and organizational commitment). Drawing on basic principles in personality research and insights about the situational variability of job satisfaction judgments, we proposed that similar interactions should be present also for attitudes with the same target. More specifically, it was predicted that job involvement affects absenteeism more if job satisfaction is low as this indicates a situation with weak constraints. Both attitudes were assessed in a sample of 436 employees working in a large civil service organization, and two indexes of absence data (frequency and time lost) were drawn from personnel records covering a 12-month period following the survey. Whereas simple correlations were not significant, a moderated regression documented that the hypothesized interaction was significant for both indicators of absence behaviour. As a range of controls (e.g. age, gender, job level) were accounted for, these findings lend strong support to the importance of this new, specific form of attitude interaction. Thus, we encourage researchers not only to consider interactions of attitudes with a different focus (e.g. job vs. organization) but also interactions between job involvement and job satisfaction as this will yield new insights into the complex function of attitudes in influencing absenteeism. © 2007 The British Psychological Society.

Taking the biscuit? A discursive approach to managing diet in type 2 diabetes

Adopting and maintaining a healthy diet is pivotal to diabetic regimens. Behavioural research has focused on strategies to modify/maintain healthy behaviours; thus 'compliance' and 'non-compliance' are operationalized by researchers. In contrast, discursive psychology focuses on the actions different accounts accomplish-in this case regarding diets. Using thematic discourse analysis, we examine dietary management talk in repeat-interviews with 40 newly diagnosed type 2 diabetes patients. Women in our study tended to construct dietary practices as an individual concern, while men presented food consumption as a family matter. Participants accounted for 'cheating' in complex ways that aim to accomplish, for instance, a compliant identity. Discursive psychology may facilitate fluidity in our understandings of dietary management, and challenge fixed notions of 'compliant' and 'non-compliant' diabetes patients. Copyright © 2005 SAGE Publications.

Measuring the benefits of a psychology placement year

Placement programmes are considered to provide students with an induction into the work environment and a valuable learning experience. Aston University maintains one of the highest success rates of any UK university for graduate employment and it is thought that the placement year plays a large role in this success. However, the benefits of placements in theoretical subjects like Psychology are often less obvious than those for practical subjects like Optometry or Engineering. Here we compared Psychology students on the 3-year vs. the 4-year sandwich course on a number of attributes using both quantitative and qualitative methodologies. Final year students who had taken a placement year achieved significantly higher marks in their final year (F 1,407=31.52, p<0.001) and were rated more favourably by academic staff on a measure of transferable skills (F1,43= 11.08, p<0.005). In addition, post-graduation, students who had taken a placement year reported a better idea of their career direction and could be argued to be further on in terms of their career progression and pay levels. Qualitatively, focus groups of placement and non-placement students suggested a number of benefits of taking a placement year, including better time management, confidence and responsibility. Whether the benefits of a sandwich placement in a psychology degree outweigh the costs to students and their families, and the need for further research to identify the scope and longevity of possible early career benefits are discussed. © 2006 Taylor & Francis.

The two forms of visuo-spatial perspective taking are differently embodied and subserve different spatial prepositions

We set out to distinguish level 1 (VPT-1) and level 2 (VPT-2) perspective taking with respect to the embodied nature of the underlying processes as well as to investigate their dependence or independence of response modality (motor vs. verbal). While VPT-1 reflects understanding of what lies within someone else’s line of sight, VPT-2 involves mentally adopting someone else’s spatial point of view. Perspective taking is a high-level conscious and deliberate mental transformation that is crucially placed at the convergence of perception, mental imagery, communication, and even theory of mind in the case of VPT-2. The differences between VPT-1 and VPT-2 mark a qualitative boundary between humans and apes, with the latter being capable of VPT-1 but not of VPT-2. However, our recent data showed that VPT-2 is best conceptualized as the deliberate simulation or emulation of a movement, thus underpinning its embodied origins. In the work presented here we compared VPT-2 to VPT-1 and found that VPT-1 is not at all, or very differently embodied. In a second experiment we replicated the qualitatively different patterns for VPT-1 and VPT-2 with verbal responses that employed spatial prepositions. We conclude that VPT-1 is the cognitive process that subserves verbal localizations using “in front” and “behind,” while VPT-2 subserves “left” and “right” from a perspective other than the egocentric. We further conclude that both processes are grounded and situated, but only VPT-2 is embodied in the form of a deliberate movement simulation that increases in mental effort with distance and incongruent proprioception. The differences in cognitive effort predict differences in the use of the associated prepositions. Our findings, therefore, shed light on the situated, grounded and embodied basis of spatial localizations and on the psychology of their use.

Fostering team creativity:perspective taking as key to unlocking diversity's potential

Despite the clear importance of team creativity for organizations, the conditions that foster it are not very well understood. Even though diversity, especially diversity of perspectives and knowledge, is frequently argued to stimulate higher creativity in teams, empirical findings on this relationship remain inconsistent. We have developed a theoretical model in which the effect of a team's diversity on its creativity is moderated by the degree to which team members engage in perspective taking. We propose that perspective taking helps realize the creative benefits of diversity of perspectives by fostering information elaboration. Results of a laboratory experiment support the hypothesized interaction between diversity and perspective taking on team creativity. Diverse teams performed more creatively than homogeneous teams when they engaged in perspective taking, but not when they were not instructed to take their team members' perspectives. Team information elaboration was found to mediate this moderated effect and was associated with a stronger indirect effect than mere information sharing or task conflict. Our results point to perspective taking as an important mechanism to unlock diversity's potential for team creativity. (PsycINFO Database Record (c) 2012 APA, all rights reserved)

Student response to a pub quiz style first year psychology assessment

The deterioration in staff-student ratios in UK higher education has had a disproportionate impact on assessment and feedback, meaning that contemporary students may have fewer assessments and much less feedback than a generation ago (Gibbs, 2006). Early use of a quiz assessment may offer a blend of social benefits (social comparison, shared problem solving leading to engagement, belonging and continuation), academic benefits (early formative assessment, immediate feedback) and administrative benefits (on-the-spot verbal marking and feedback to 230 students simultaneously). This study sought student views on the acceptability and contribution to learning of the quiz. Social benefits were apparent but difficulties in creating questions to elicit deeper reasoning and problem solving are discussed and the quiz had limited pedagogic value in the eyes of participants. The use of assertion-reason questions are considered as a way of taking the table quiz to a higher level and extending its pedagogic value.