Global price of risk and stabilization policies

We estimate a highly significant price of risk that forecasts global stock and bond returns as a nonlinear function of the CBOE Volatility Index (VIX). We show that countries' exposure to the global price of risk is related to macroeconomic risks as measured by output, credit, and inflation volatility, the magnitude of financial crises, and stock and bond market downside risk. Higher exposure to the global price of risk corresponds to both higher output volatility and higher output growth. We document that the transmission of the global price of risk to macroeconomic outcomes is mitigated by the magnitude of stabilization in the Taylor rule, the degree of countercyclicality of fiscal policy, and countries' tendencies to employ prudential regulations. The estimated magnitudes are quantitatively important and significant, with large cross-sectional explanatory power. Our findings suggest that macroeconomic and financial stability policies should be considered jointly

The Management Exercises: A Way Forward with Purpose

This paper outlines the Management Exercises, a co-curricular program that reflects the more — the magis — to better prepare students as future leaders and citizens. The Management Exercises seek to further orient students toward a life of questioning and engagement as students learn to exercise discernment, to build character, and to enact citizenship. The four modules that comprise the Management Exercises are outlined in conjunction with the implementation of the Management Exercises into the school’s MBA program

Neural mechanisms of social learning in the female mouse

Social interactions are often powerful drivers of learning. In female mice, mating creates a long-lasting sensory memory for the pheromones of the stud male that alters neuroendocrine responses to his chemosignals for many weeks. The cellular and synaptic correlates of pheromonal learning, however, remain unclear. We examined local circuit changes in the accessory olfactory bulb (AOB) using targeted ex vivo recordings of mating-activated neurons tagged with a fluorescent reporter. Imprinting led to striking plasticity in the intrinsic membrane excitability of projection neurons (mitral cells, MCs) that dramatically curtailed their responsiveness, suggesting a novel cellular substrate for pheromonal learning. Plasticity was selectively expressed in the MC ensembles activated by the stud male, consistent with formation of memories for specific individuals. Finally, MC excitability gained atypical activity-dependence whose slow dynamics strongly attenuated firing on timescales of several minutes. This unusual form of AOB plasticity may act to filter sustained or repetitive sensory signals.R21 DC013894 - NIDCD NIH HH

Mapping the public sector diaspora: towards a model of inter-sectoral cultural hybridity using evidence from the English healthcare reforms

Public service reforms increasingly blur the boundaries between public and private sectors, involving hybrid modes of service organization. With growing numbers of public services being transferred to private or mutual ownership, the article interprets reform as a public sector diaspora. Drawing upon the diaspora studies literature, the article proposes a model of hybridization that centres on the possibilities for cultural dislocation, adaptation, and hybridity. Focusing on reforms within the English National Health Service, the article presents an ethnographic study of the transfer or diaspora of doctors, nurses, clinical practitioners, and healthcare assistants from a public hospital to a private healthcare provider, exploring their experiences of migration, resettlement, and cultural hybridity. The model addresses a conceptual gap within the public policy and management literature by elaborating the antecedents, processes, and forms of cultural hybridization

Advancing the Scholarship of Teaching Through Collaborative Self-Study

Self-study research is a mode of scholarly inquiry in which teachers examine their beliefs and actions as educators and explore pedagogical questions. A three-phase model of collaborative self-study research is offered as a framework for university faculty to engage in self-study for the purpose of improving teaching and creating new knowledge

Role of Personal Networks in the Growth of Entrepreneurship Ventures of Ethnic Minority Female Entrepreneurs

The main objective of the paper is to explore and explain the differences/similarities in personal networks of, and their use by, immigrant and British born Pakistani female entrepreneurs for business growth.A broad range of studies has explored the social context of ethnic minority and immigrant entrepreneurship by assuming all minority entrepreneurs as a cohesive group without taking into account intergroup (geographical categorisation) and intra-group (generational) differences. These differences are explained by socio-economic and cultural factors such as family background and support, ethnicity, religion, education, and more importantly personal network (Metcalf et. al., 1996; Basu, 1998). The blend of culture and religion depicted in entrepreneurial practices of Pakistani entrepreneurs is an interesting but under-researched area. Our particular interest is to explore the scope, depth, variations and limitations of the personal networks of Pakistani female entrepreneurs in their effort to grow their business

Hippocampal Place Cell Instability after Lesions of the Head Direction Cell Network

The occurrence of cells that encode spatial location (place cells) or head direction (HD cells) in the rat limbic system suggests that these cell types are important for spatial navigation. We sought to determine whether place fields of hippocampal CA1 place cells would be altered in animals receiving lesions of brain areas containing HD cells. Rats received bilateral lesions of anterodorsal thalamic nuclei (ADN), postsubiculum (PoS), or sham lesions, before place cell recording. Although place cells from lesioned animals did not differ from controls on many place-field characteristics, such as place-field size and infield firing rate, the signal was significantly degraded with respect to measures of outfield firing rate, spatial coherence, and information content. Surprisingly, place cells from lesioned animals were more likely modulated by the directional heading of the animal. Rotation of the landmark cue showed that place fields from PoS-lesioned animals were not controlled by the cue and shifted unpredictably between sessions. Although fields from ADN-lesioned animals tended to have less landmark control than fields from control animals, this impairment was mild compared with cells recorded from PoS-lesioned animals. Removal of the prominent visual cue also led to instability of place-field representations in PoS-lesioned, but not ADN-lesioned, animals. Together, these findings suggest that an intact HD system is not necessary for the maintenance of place fields, but lesions of brain areas that convey the HD signal can degrade this signal, and lesions of the PoS might lead to perceptual or mnemonic deficits, leading to place-field instability between sessions

Dialogue as Renounced Aggression: JMI and the Case of AOM\u27s President\u27s Response to EO13769

Dialogue and debate are at the core of the social sciences. In this piece, the Journal of Management Inquiry(JMI) editors-in-chief discuss their position and decisions pertaining to the publication of Professor Anita McGahan’s response to Professor Hardimos Tsoukas. A key decision—given JMI’s commitment to dialogue and exchange in its scholarly form—included publishing three curated pieces where renowned scholars applied their scholarly voice and expertise to McGahan’s historical narrative. To conclude this piece and the entire Editors’ Choice collection, five scholars speak to needed qualitative research standards or address McGahan’s leadership directly. Specific corrections to Tsoukas are also provided