Evidence on age-related differentiation in the structure of cognitive abilities in childhood and adolescence is still inconclusive. Previous studies often focused on the interrelations or the g-saturation of broad ability constructs, neglecting abilities on lower strata. In contrast, we investigated differentiation in the internal structure of fluid intelligence/gf (with verbal, numeric, and figural reasoning) and crystallized intelligence/gc (with knowledge in the natural sciences, humanities, and social studies). To better understand the development of reasoning and knowledge during secondary education, we analyzed data from 11,756 students attending Grades 5 to 12. Changes in both the mean structure and the covariance structure were estimated with locally-weighted structural equation models that allow handling age as a continuous context variable. To substantiate a potential influence of school tracking (i.e., different learning environments), analyses were additionally conducted separated by school track (academic vs. nonacademic). Mean changes in gf and gc were approximately linear in the total sample, with a steeper slope for the latter. There was little indication of age-related differentiation for the different reasoning facets and knowledge domains. The results suggest that the relatively homogeneous scholastic learning environment in secondary education prevents the development of more pronounced ability or knowledge profiles.
This study examines responses of 104 sell-side and buy-side security analysts to a survey sent out in order to understand how analysts conduct investment recommendations. Uncertainty about the quality of analysts’ investment recommendations is a major concern for retail investors. Specifically, the information gathering, processing and transferring process appears to be a black box for retail investors. The findings of our study provide insight into analyst-specific characteristics and sources of information used by analysts to undertake firm-specific research. By examining the practitioners’ responses we derive key factors which influence investment recommendations.
Retail investors use information provided by mutual fund rating agencies to make investment decisions. Using hand-collected data on Morningstar’s mutual fund ratings we examine the rating migration and closure risk of mutual funds from 2005 to 2012. We differentiate between buy-and-hold investment strategies and dynamic investment strategies. To assess the information content of mutual fund ratings for buy-and-hold investment strategies, we determine the rating migration based on the first and the last mutual fund rating during two-, four-, six-, and eight-year horizons. With respect to dynamic investment strategies, we calculate the number of rating changes per fund during these time horizons on a monthly basis. We find that mutual fund rating persistence is low or even inexistent in particular during longer time periods. Only for lower-rated funds the rating appears to indicate higher risk of fund closure. In addition, mutual funds face a large number of up to 38 monthly rating changes in the eight-year window. Overall, due to the extensive rating migration and the high number of monthly rating changes, we conclude that retail investors barely benefit from using mutual fund ratings.
We propose a methodology of an ex ante prediction of users' performance based on analyzing the pupillary diameter variability captured by ordinary eye-tracking systems. Based on a realistic large-scale experimental evaluation of our methodology we show promising results that pave the way for a dynamic real-time adaption of IT to the user's mental effort and the expected user performance. Our non-invasive contact-free methodology can be applied cost-efficiently both in research and practical environments, without disturbing the participant/user.
Studies show that social capital facilitates access to internal and external knowledge and in turn increases business value. In that respect, studies show that companies sharing some similarities such as organizational values and practices may benefit more than companies differing in various aspects. In particular, group affiliations have been shown to influence performance in specific contexts but results are mixed at best. In addition, the question of how the influence of social capital on transferring useful external knowledge might be moderated by closer affiliations between companies is virtually not addressed. Employing a survey among manufacturing companies, this paper contributes to extant research by demonstrating a moderating effect of group affiliations on the relationship between social capital and useful external knowledge.
This study examined personality similarity between teachers and their students and its impact on teacher judgement of student achievement in the domains of
reading comprehension and mathematics. Personality similarity was quantified
through intraclass correlations between personality characteristics of 409 dyads of German teachers and their students. This similarity index was combined with teachers’ global and task-specific judgements of student achievement. Personality
similarity has a significant effect on global judgement in both domains under study. Students who are similar to their teacher are judged more positively than students who are dissimilar, even when students’ test performance is controlled. This effect could not be verified for task-specific judgements. Results indicate
that impact of potential sympathy bias in social judgements differs between different types of judgement. That is, global judgements are more likely to be biased than more specific judgements. Theoretical and educational relevance of
the findings are discussed.