Agent based simulation as a novel decision support tool for retail managers

Intelligent agents offer a new and exciting way of understanding the world of work. We apply agent-based simulation to investigate a set of problems in a retail context. Specifically, we are working to understand the relationship between human resource management practices and retail productivity. Our multi-disciplinary research team draws upon expertise from work psychologists and computer scientists. Our research so far has led us to conduct case study work with a top ten UK retailer. Based on our case study experience and data we are developing a simulator that can be used to investigate the impact of management practices (e.g. training, empowerment, teamwork) on customer satisfaction and retail productivity.

CHARACTERISTICS OF PRIVATE HIGH SCHOOLS FOR STUDENTS WITH EMOTIONAL DISABILITIES AND PERCEPTIONS OF THEIR PUBLIC SCHOOL CASE MANAGERS

Placement of students with disabilities in private special-education schools remains costly and controversial. This is particularly concerning, given the lack of research on the characteristics and quality of these restrictive settings. The purpose of this study was to identify the academic and vocational course offerings and behavioral supports provided in private special-education schools the serve high school students with emotional disabilities (ED). Second, the research examined the perceptions of the quality of services in these setting from the perspectives of public school case managers. Using a mixed-method design to collect data, 9 administrative heads of private special-education schools were surveyed, and 7 public school case managers were interviewed. Results indicated that (a) private special-education schools offer the basic academic core courses needed to meet graduation requirements, (b) vocational options for students enrolled in these schools are quite limited, (c) these schools provide a variety of behavioral interventions and supports, and (d) case managers are concerned with the lack of academic rigor and inconsistent programming at these schools but applauded the notion that students with ED are exiting with a high school diploma. Findings from this study may have policy implications for improving and developing programming options for high school students with ED.

Too Busy to Be Fair? The Effect of Managers’ Perceived Workload on Their Core Technical Performance and Justice Rule Adherence

Despite the organizational benefits of treating employees fairly, both anecdotal and empirical evidence suggest that managers do not behave fairly towards their employees in a consistent manner. As treating employees fairly takes up personal resources such as time, effort, and attention, I argue that when managers face high workloads (i.e., high amounts of work and time pressure), they are unable to devote such personal resources to effectively meet both core technical task requirements and treat employees fairly. I propose that in general, managers tend to view their core technical task performance as more important than being fair in their dealings with employees; as a result, when faced with high workloads, they tend to prioritize the former at the expense of the latter. I also propose that managerial fairness will suffer more as a result of heightened workloads than will core technical task performance, unless managers perceive their organization to explicitly reward fair treatment of employees. I find support for my hypotheses across three studies: two experimental studies (with online participants and students respectively) and one field study of managers from a variety of organizations. I discuss the implications of studying fairness in the wider context of managers’ complex role in organizations to the fairness and managerial work demands literatures.

A genetic variant of the CAPN10 gene in Mexican subjects with dyslipidemia is associated with increased HDL-cholesterol concentrations after the consumption of a soy protein and soluble fiber dietary portfolio

Dyslipidemia is a major public health problem, and therefore, it is important to develop dietary strategies to diminish the prevalence of this disorder. It was recently reported that diet may play an important role in triggering insulin resistance by interacting with genetic variants at the CAPN10 gene locus in patients with metabolic syndrome. Nonetheless, it remains unknown whether genetic variants of genes involved in the development of type 2 diabetes are associated with variations in high-density lipoprotein cholesterol (HDL-C). The study used a single-center, prospective, cohort design. Here, we assessed the effect of four variants of the CAPN10 gene on HDL-C levels in response to a soy protein and soluble fiber dietary portfolio in subjects with dyslipidemia. In 31 Mexican dyslipidemic individuals, we analyzed four CAPN10 gene variants (rs5030952, rs2975762, rs3792267, and rs2975760) associated with type 2 diabetes. Subjects with the GG genotype of the rs2975762 variant of the CAPN10 gene were better responders to dietary intervention, showing increased HDL-C concentrations from the first month of treatment. HDL-C concentrations in participants with the wild type genotype increased by 17.0%, whereas the HDL-C concentration in subjects with the variant genotypes increased by only 3.22% (p = 0.03); the low-density lipoprotein cholesterol levels of GG carriers tended to decrease (-12.6%). These results indicate that Mexican dyslipidemic carriers of the rs2975762-GG genotype are better responders to this dietary intervention.

Industry Linkages and Audit Firms' Industry Portfolio Choice: Evidence from Product Language

Audit firms are organized along industry lines and industry specialization is a prominent feature of the audit market. Yet, we know little about how audit firms make their industry portfolio decisions, i.e., how audit firms decide which set of industries to specialize in. In this study, I examine how the linkages between industries in the product space affect audit firms’ industry portfolio choice. Using text-based product space measures to capture these industry linkages, I find that both Big 4 and small audit firms tend to specialize in industry-pairs that 1) are close to each other in the product space (i.e., have more similar product language) and 2) have a greater number of “between-industries” in the product space (i.e., have a greater number of industries with product language that is similar to both industries in the pair). Consistent with the basic tradeoff between specialization and coordination, these results suggest that specializing in industries that have more similar product language and more linkages to other industries in the product space allow audit firms greater flexibility to transfer industry-specific expertise across industries as well as greater mobility in the product space, hence enhancing its competitive advantage. Additional analysis using the collapse of Arthur Andersen as an exogenous supply shock in the audit market finds consistent results. Taken together, the findings suggest that industry linkages in the product space play an important role in shaping the audit market structure.

Household portfolio allocation, risk attitudes and credit constraints : evidence from the eurozone

Mestrado em Economia Monetária e Financeira

Analysis of the claims data of a life insurance portfolio

Mestrado em Ciências Actuariais

Life-cycle portfolio choice with liquid and illiquid financial assets

Traditionally, quantitative models that have studied households׳ portfolio choices have focused exclusively on the different risk properties of alternative financial assets. We introduce differences in liquidity across assets in the standard life-cycle model of portfolio choice. More precisely, in our model, stocks are subject to transaction costs, as considered in recent macroliterature. We show that when these costs are calibrated to match the observed infrequency of households׳ trading, the model is able to generate patterns of portfolio stock allocation over age and wealth that are constant or moderately increasing, thus more in line with the existing empirical evidence.

Study of the impact federated erubrics on assessing competences in the practicum

Presentation Research of the Practicum and externships has a long history and involves important aspects for analysis. For example, the recent changes taking place in university grades allot more credits to the Practicum course in all grades, and the Company-University collaboration has exposed the need to study in new learning environments. The rise of ICT practices like ePortfolios, which require technological solutions and methods supported by experimentation, study and research, require particular examination due to the dynamic momentum of technological innovation. Tutoring the Practicum and externships requires remote monitoring and communication using ePortfolios, and competence-based assessment and students’ requirement to provide evidence of learning require the best tutoring methods available with ePortfolios. Among the elements of ePortfolios, eRubrics emerge as a tool for design, communication and competence-assessment. This project aims to consolidate a research line on eRubrics, already undertaken by another project -I+D+i [EDU2010-15432]- in order to expand the network of researchers and Centres of Excellence in Spain and other countries: Harvard University in USA, University of Cologne in Germany, University of Colima in Mexico, Federal University of Parana, University of Santa Catarina in Brasil, and Stockholm University in Sweden(1). This new project [EDU2013-41974-P](2) examines the impact of eRubrics on tutoring and on assessing the Practicum course and externships. Through technology, distance tutoring grants an extra dimension to human communication. New forms of teaching with technological mediation are on the rise and are highly valuable, not only for formal education but especially in both public and private sectors of non-formal education, such as occupational training, unemployed education and public servant training. Objectives Obj. 1. To analyse models of technology used in assessing learning in the Practicum of all grades at Spanish Faculties of Education. Obj. 2. To study models of learning assessment measured by eRubrics in the Practicum. Obj. 3. To analyse communication through eRubrics between students and their tutors at university and practice centres, focusing on students’ understanding of competences and evidences to be assessed in the Practicum. Obj. 4. To design assessment services and products, in order to federate companies and practice centres with training institutions. Among many other features, it has the following functions CoRubric(3) 1. The possibility to assess people, products or services by using rubrics. 2. Ipsative assessment. 3. Designing fully flexible rubrics. 4. Drafting reports and exporting results from eRubrics in a project. 5. Students and teachers talk about the evaluation and application of the criteria Methodology, Methods, Research Instruments or Sources Used The project will use techniques to collect and analyse data from two methodological approaches: 1. In order to meet the first objective, we suggest an initial exploratory descriptive study (Buendía Eisman, Colás Bravo & Hernández Pina, 1998), which involves conducting interviews with Practicum coordinators from all educational grades across Spain, as well as analysing the contents of the teaching guides used in all educational grades across Spain. 55 academic managers were interviewed from about 10 faculties of education in public universities in Spain (20%), and course guides 376 universities from 36 public institutions in Spain (72%) are analyzed. 2. In order to satisfy the second objective, 7 universities have been selected to implement the project two instruments aimed at tutors practice centers and tutors of the faculty. All instruments for collecting data were validated by experts using the Delphi method. The selection of experts had three aspects: years of professional experience, number and quality of publications in the field (Practicum, Educational Technology and Teacher Training), and self-rating of their knowledge. The resulting data was calculated using the Coefficient of Competence (Kcomp) (Martínez, Zúñiga, Sala & Meléndez, 2012). Results in all cases showed an average experience of more than 0.09 points. The two instruments of the first objective were validated during the first half of 2014-15 year, data collected during the second half. And the second objective during the first half of 2015-16 year and data collection for the second half. The set of four instruments (two for each objective 1 and 2) have the same dimensions as each of the sources (Coordinators, course guides, tutors of practice centers and faculty) as they were: a. Institution-Organization, b. Nature of internships, c. Relationship between agents, d. Management Practicum, e. Assessment. F. Technological support, g. Training and h. Assessment Ethics. Conclusions, Expected Outcomes or Findings The first results respond to Objective 1, where we find different conclusions depending on each of the six dimensions. In the case of internal regulations governing the organization and structure of the practicum, we note that most traditional degrees (Elementary and Primary grades) share common internal rules, in particular development methodology and criteria against other grades (Pedagogy and Social Education ). It is also true that the centers of practices in last cases are very different from each other and can be a public institution, a school, a company, a museum, etc. The memory with a 56.34% and 43.67% daily activities are more demands on students in all degrees, Lesson plans 28.18% 19.72% Portfolio 26.7% Didactic units and Others 32,4%. The technical support has been mainly used the platform of the University 47.89% and 57.75% Email, followed by other services and tools 9.86% and rubric platforms 1.41%. The assessment criteria are divided between formal aspects of 12.38%, Written expresión 12.38%, treatment of the subject 14.45%, methodological rigor of work 10.32%, and Level of argument Clarity and relevance of conclusions 10.32%. In general terms, we could say that there is a trend and debate between formative assessment against a accreditation. It has not yet had sufficient time to further study and confront other dimensions and sources of information. We hope to provide more analysis and conclusions in the conference date.

Portfolio selection under higher moments using fuzzy multi-objective linear programming

Since asset returns have been recognized as not normally distributed, the avenue of research regarding portfolio higher moments soon emerged. To account for uncertainty and vagueness of portfolio returns as well as of higher moment risks, we proposed a new portfolio selection model employing fuzzy sets in this paper. A fuzzy multi-objective linear programming (MOLP) for portfolio optimization is formulated using marginal impacts of assets on portfolio higher moments, which are modelled by trapezoidal fuzzy numbers. Through a consistent centroid-based ranking of fuzzy numbers, the fuzzy MOLP is transformed into an MOLP that is then solved by the maximin method. By taking portfolio higher moments into account, the approach enables investors to optimize not only the normal risk (variance) but also the asymmetric risk (skewness) and the risk of fat-tails (kurtosis). An illustrative example demonstrates the efficiency of the proposed methodology comparing to previous portfolio optimization models.

Waste management practices in construction projects: perceptions of project managers

The construction industry has been found to be a major generator of waste and there are many challenges associated with finding the most sustainable way to manage construction waste. As the construction industry is a project based industry, it is essential to look at cultural issues related to waste management at the project level. Therefore, this research aims to identify the current status of waste management practices in construction projects by analysing project managers’ views on waste management performance in construction projects; project managers’ attitudes towards waste management; and project managers’ views on waste management culture in construction projects. A questionnaire survey was carried out and project managers were selected as a target group to distribute questionnaires, as project managers have a vital involvement in promoting and maintaining project culture in the construction project environment. Data was analysed using descriptive statistics and the Kruskal-Wallis test. The findings reveal that project managers believe that even though the operational cost of waste minimisation is high in construction projects, overall waste management is profitable. At the same time it was interesting that even though project managers believe most project participants are satisfied with existing waste management systems, overall waste management efforts are not perceived as being at a satisfactory level in construction projects. Project managers consider waste as an inevitable by-product, but they do not believe that waste management is beyond the control of project members or that waste has no value. At the same time, it was found that project managers infer that project participants are cost and time conscious in waste management despite the roles, responsibilities and duties of each party in waste management not being well-coordinated or fully understood. Taken together, these findings highlight the misconceptions related to waste management in construction projects and emphasise the necessity of collective responsibility on the part of project participants to enhance the performance of waste management in construction projects.

Continuous and jump betas: implications for portfolio diversification

Using high-frequency data, we decompose the time-varying beta for stocks into beta for continuous systematic risk and beta for discontinuous systematic risk. Estimated discontinuous betas for S&P500 constituents between 2003 and 2011 generally exceed the corresponding continuous betas. We demonstrate how continuous and discontinuous betas decrease with portfolio diversification. Using an equiweighted broad market index, we assess the speed of convergence of continuous and discontinuous betas in portfolios of stocks as the number of holdings increase. We show that discontinuous risk dissipates faster with fewer stocks in a portfolio compared to its continuous counterpart.

Why resilience managers aren’t resilient, and what human resource management can do about it

Prior resilience research typically focuses on either the individual or the organisational level of analysis, emphasises resilience in relation to day-to-day stressors rather than extreme events and is empirically under-developed. In response, our study inductively theorises about the relationships between individual and organisational resilience, drawing upon a large-scale study of resilience work in UK and French organisations. Our first-hand accounts of resilience work reveal the micro-processes involved in producing resilient organisations, and highlight the challenges experienced in doing resilience work in large organisations. We show that these micro-processes have significant implications for resilience at both individual and organisational levels, and draw implications for how HRM interventions can help to promote individual, and thus organisational, resilience.