External Assets Research Articles

Do Financial Liberalization and Gender Inequality Moderate Trade Liberalization’s Impact on Growth in European Transition Economies?

ABSTRACT We assess the influence of trade liberalization on economic growth in European transition economies from 2000 to 2022. Both trade and financial liberalization contribute to economic growth. Financial liberalization facilitates the movement of internal and external assets, and encourages cross-border investments, strengthening the relationship between trade liberalization and economic growth. Our results support the notion that negative side effects of liberalization are not observed in European transition economies. However, gender inequality dampens the positive effect of trade liberalization on economic growth. As gender inequality is a social factor affecting economic growth, meaningful policies are needed to reduce it.

An embedded qualitative study of the experiences of people with dementia, their caregivers and volunteer older adults who participated in the CREST resilience-building psychosocial intervention

BackgroundA novel Complex REsilience-building psychoSocial intervenTion (CREST) targeted at people with dementia, their informal carers, general practitioners and the wider community with the aim of increasing resilience and strengthening the personal attributes or external assets of people with dementia living at home, in the community, was developed. It included three components: cognitive stimulation therapy (CST), physical exercise and dementia education. A non-randomised feasibility study was conducted of the CREST intervention, the aim of which was to inform the design of a future randomised controlled trial. This article presents the findings from the qualitative component of the CREST intervention feasibility study, describing the experience of the people with dementia and their caregivers who participated and the volunteer older adults who supported the intervention.MethodsA descriptive qualitative research approach using semi-structured interviews was undertaken. Key stakeholders (people with dementia (n = 9), their caregivers (n = 9) and the volunteer older adults from the physical exercise component (n = 9)) were interviewed about the intervention and the perceived impact of their participation.ResultsThe social aspect of the CREST intervention proved to be important for all three groups. Attendance remained high throughout the intervention. The people with dementia spoke positively about their participation in the CST and exercise components of the CREST intervention. The caregivers liked receiving coping strategies focused on how to communicate better with the person they cared for and how to better manage their own self-care and they liked the group element of the programme. The volunteer older adults supported the people with dementia in taking part in the exercise component, motivating them to do the exercises and helping with social interaction within the group. The volunteers gained exposure to the illness and as a result understood more about dementia and felt better equipped to communicate and deal with people with dementia.ConclusionParticipation in the CREST intervention produced a positive impact on all three groups. The social element of the intervention was noted by everybody and was regarded as being beneficial. Qualitative insights emphasised the value of embedding qualitative research within feasibility studies to inform future intervention design. Further research should focus on conducting a full-scale randomised controlled trial to evaluate CREST’s effectiveness and explore its application to individuals with more advanced dementia.Trial registrationISRCTN25294519.

A scoping review of the research evidence of the developmental assets model in Europe.

Positive Youth Development (PYD) is a strength-based perspective that focuses on the resources to promote a successful transition to adulthood, derived from the Relational Developmental Systems theory. In this line, the Developmental Assets (DA) model focuses on describing the personal resources (Internal Assets) and contextual resources (External Assets) that help to reach PYD. Most research from this approach has been carried out in United States and, to a lesser extent, in the European continent. The aim of this scoping review was to examine the evidence collected for the DA model in Europe. Web of Science database was used to search for articles published between 2013 and February 2024. Initially, there were 55 possible articles to be included, but after applying the exclusion criteria, this number was reduced to 11. The findings suggested that the evidence for DA in Europe was in line with North American research, so that a higher presence of DA was related to higher well-being, better psychological adjustment, and lower risk behaviors. Internal Assets were the most influential assets, with the Positive Identity category being especially remarkable. Commitment to Learning and Social Competencies were also highlighted in the studies included in the review. Concerning External Assets, Positive Boundaries-expectations and Empowerment were emphasized as protective factors in youth development. These assets were found to present a protective effect against risk behaviors and were positively associated with PYD and socioemotional skills. Thus, these findings support the applicability of the DA framework in promoting PYD in European context, and some intervention strategies are discussed considering cultural diversity.

A demographic analysis of developmental assets, misconduct behaviours, and depression among New Zealand youth in mentoring relationships

ABSTRACT Mentoring is often utilised to support youth who have low levels of protective assets. This study explored 300 NZ youth (16-18 years old) who were involved in mentoring relationships to better understand how developmental assets influence depressive symptoms and misconduct behaviours. Results suggest that most participants possessed low to fair levels of internal (77.3%) and external (72.6%) assets with high levels of major depressive symptoms (40.7%) and moderate to high levels of misconduct behaviours (29.4%). There were demographic differences in developmental assets (e.g. Pacific youth reported higher assets and non-student participants reported lower assets than others), depressive symptoms (e.g. higher ranks for females than males) and misconduct behaviours (e.g. higher misconduct behaviours among Māori youth, non-student and full-time employed participants). Importantly, lower levels of external assets (β = – .90, S.E = .20, p = <.001; 95% CI [−1.30, – .50]) and internal assets (β = – .76, S.E = 29 .28, p = <.001; 95% CI [−1.31, – .20]) predicted depressive symptoms and low levels of external assets significantly contribute to youth misconduct behaviours (β = – .40, S.E = .08, p = 31 < .001; 95% CI [-.56, – .23]). These findings suggest strategies, programmes and policies to improve developmental assets which may decrease emotional and behavioural distress among youth.

The importance of developmental assets in HIV prevention behaviors among young black men who have sex with men (MSM)

Developmental assets are critical to the health and wellbeing of youth. The current study examines the influence of developmental assets on PrEP use and HIV testing among YBMSM ages 18–24. Using a cross-sectional survey of YBMSM (N = 225), this study explored the role of external (e.g., family support, other adult support) and internal (e.g., personal responsibility) assets in explaining HIV prevention behaviors. Participants were recruited from Mechanical Turk (M-Turk) internet-based platform, social media sites, and community-based organizations. A path analysis was conducted to investigate the direct/indirect effects of internal and external assets on PrEP use and HIV testing. Family support (β = 0.40, p < 0.001) and other adult support (β = 0.22, p = 0.004) were both associated with personal responsibility. Personal Responsibility (β = 0.15, p = 0.03) and positive identity (β = 0.28, p < 0.001) were both associated with an increase HIV testing. Personal responsibility was positively associated with increased PrEP use (β = 0.30, p < 0.001). Our study results indicated that external assets play a role in helping to build internal assets that support increased HIV testing and PrEP use among YBMSM. Our findings suggest the need for strength-based interventions that help YBMSM build assets and increase HIV prevention behaviors.

Understanding the Effect of External and Internal Assets on Hazardous/Harmful Drinking Among Chinese College Students: A Serial Mediation Model.

Hazardous/harmful drinking among college students is increasingly becoming a global health concern. Previous studies have mostly paid more attention to the prevalence and risk factors of alcohol use disorder based on the public health approach, and less is understood about psychological mechanisms and protective factors of problem drinking behavior. Grounded in the framework of developmental assets, this study explored the predictive effect of external assets (i.e., social connectedness) and internal assets (i.e., self-concept clarity and drinking refusal self-efficacy) on hazardous/harmful drinking among Chinese college students. Participants were 598 college students with a mean age of 19.41 (SD = 1.21) years. The results of structural equation modeling showed that social connectedness negatively predicted college students' hazardous/harmful drinking. Moreover, our path analyses revealed a serial mediation among these variables: students with high social connectedness tended to report high self-concept clarity, which in turn increased drinking refusal self-efficacy, and consequently decreased the level of hazardous/harmful drinking. This study revealed the mechanisms underlying how external and internal assets predict risky drinking among college students. These findings made significant contributions to prevention and precision interventions for college-aged youth with drinking problems.

External asset network and international transmission of economic policy uncertainty

With the gradual deepening of economic globalization, the international external asset holdings has reached an astonishing scale, and its role in the international transmission of Economic Policy Uncertainty should be given sufficient attention. By using the Rolling-Lasso method to construct a cross-border transmission network of Economic Policy Uncertainty, this article explores how the transmission is affected by the external asset and its structure. The results show that: (1) There is a significant positive correlation between the scale of external asset and the cross-border transmission of Economic Policy Uncertainty. (2) The impact of external asset shows structural characteristics, i.e., the effect of Portfolio Investment and Direct Investment is relatively more significant than that of bond assets in equity assets. (3) For those countries with lower level of financial openness or pegging and anchoring exchange rate regimes, they are more likely to transmit Economic Policy Uncertainty to the destinations of external investment.

A Structural Measurement of the Valuation Effect of China's External Assets: Method and Application

A Structural Measurement of the Valuation Effect of China's External Assets: Method and Application

Developmental assets as predictors of Albanian adolescents’ life satisfaction

This study examined the relationship between Positive Youth Development (PYD) Internal and External assets and life satisfaction among Albanian adolescents. Data were collected from a sample of 409 Albanian students aged 14-19 years using the Developmental Assets Profile and the Life Satisfaction Scale. The sample included the majority group (51%) and various minority groups in Albania. Statistical analyses were conducted to explore the association between PYD assets, demographic variables, and perceived life satisfaction. The results revealed significant differences in Internal and External assets across all groups, with life satisfaction reported at a moderate positive level. Gender and minority group differences were observed in the relationship between assets and life satisfaction. The findings of this study reveal that the ten Positive Youth Development (PYD) assets serve as predictors for life satisfaction. Additionally, it was observed that the same set of ten PYD assets acts as a predictor for life satisfaction. These results provide valuable insights into the implementation of PYD strategies and the impact they have on life satisfaction within an under-researched community.

Internal R&D or external asset growth? A closer look at CEO narcissism and entrepreneurial orientation

PurposeIn today's competitive business environment, understanding how leadership traits shape outcomes is critical. Chief executive officer (CEO) narcissism, an intriguing and debated trait, raises questions about its impact on organisational behaviour, particularly regarding entrepreneurial orientation (EO). This study aims to examine how CEO narcissism affects EO, both as aggregate and specific measures, encompassing internal and external growth. It also considers the organisational context by examining how factors such as capital intensity, firm ownership and CEO duality moderate this relationship.Design/methodology/approachTo test the hypotheses, the authors used a sample of firms drawn from China's ChiNext database (2008–2017). After an initial screening, the final sample consists of 251 CEOs from 239 companies. Data on CEO narcissism are collected from the firm's official website and major online sources, whilst additional data are extracted from the WIND daabase. The authors use multiple regression and ordinary least squares (OLS) for data analysis.FindingsThe results show that CEO narcissism leads to external asset growth investments but not internal research and development (R&D). There is a positive relationship between CEO narcissism and EO as an aggregate measure and also different managerial discretions play varying roles in the relationship. Specifically, capital intensity weakens this relationship, but state ownership strengthens it.Originality/valueThis study helps to clarify the relationship between CEO narcissism and EO and advances the literature by showing that firms' EO actions may take various forms of innovation and venturing as new entry initiations of EO. The study findings have important implications for firms to capitalise on narcissistic CEOs' entrepreneurial tendencies, balance internal R&D and external asset growth and leverage various managerial discretions.

“I've already lived like There's a pandemic”: A grounded theory study on the experiences of people with a mobility disability

It is widely documented that people with a mobility disability are at increased risk of severe illness, morbidity, or mortality following a disaster. However, disaster risk is multifactorial and not simply a result of underlying health conditions. This study aimed to capture the lived experiences of people with a mobility disability during the first four waves of the COVID-19 pandemic. Sixteen people with a mobility disability from Ontario and Quebec, Canada, participated in 1-h qualitative interviews (ages 20–86). Participants' disability etiology included stroke, multiple sclerosis, amputations, and other. Using grounded theory methodology, we employed iterative, inductive coding and constant comparative methods. Through this, we built the grounded theory: Adaptation is Not a Choice, It's a Way of Life. This framework illustrates the process whereby restrictions imposed by the pandemic resembled everyday barriers for people with a mobility disability. Although compounded barriers increased disaster risk, internal and external assets supported adaptive capacity and resilience which facilitated the management of disability challenges from restrictions in the environment. People with disability took calculated risks to maintain quality of life during the pandemic. Although they shared a common dis-ability experience with the general population, the ways in which innovation flourished during the COVID-19 pandemic provided solutions to mitigate experiences of dis-ability. The tipping point for change is social justice, to support community resilience through accommodations for disability needs. Overall, planning, for both daily living and pandemic response, must be disability-inclusive, considering the assets and true risks of people with disability.

EASIER: A new model for online learning of minimally invasive surgery skills

IntroductionTechnology Enhanced Learning (TEL) can provide the tools to safely master minimally invasive surgery (MIS) skills in patient-free environments and receive immediate objective feedback without the constant presence of an instructor. However, TEL-based systems tend to work isolated from one another, focus on different skills, and fail to provide contents without a sound pedagogical background. ObjectiveThe objective of this descriptive study is to present in detail EASIER, an innovative TEL platform for surgical and interventional training, as well as the results of its validation. MethodsEASIER provides a Learning Management System (LMS) for institutions and content creators that can connect and integrate TEL “external assets” (virtual reality simulators, augmented box trainers, augmented videos, etc.) addressing different skills. The platform integrates all skills under an Assessment Module that measures skills’ progress in different courses. Finally, it provides content creators with a pedagogical model to scaffold contents while retaining flexibility to approach course design with different training philosophies in mind. Three courses were developed and hosted in the platform to validate it with end-users in terms of usability, performance, learning results in the courses and student self-perception on learning. ResultsIn total 111 volunteers completed the validation. The study was limited due to the COVID-19 pandemic, which limited access to external assets (virtual reality simulators). Nevertheless, usability was rated with 73.1 in the System Usability Scale. Most positive aspects on performance were easiness to access the platform, easiness to change the configuration and not requiring additional plug-ins to use the platform. The platform was rated above average in the six scales of the User Experience Questionnaire. Overall, student results improved significantly across the three courses (p < 0.05). ConclusionsThis study provides, within its limitations, evidence on the usefulness of the EASIER platform for distance learning of MIS skills. Results show the potential impact of the platform and are an encouraging boost for the future, especially in the aftermath of the COVID-19 pandemic.

Computation of Systemic Risk Measures: A Mixed-Integer Programming Approach

Mixed-Integer Programming Formulations for Systemic Risk Measures Measurement and allocation of systemic risk have become important tasks in interconnected financial networks. In “Computation of Systemic Risk Measures: A Mixed-Integer Programming Approach,” Ararat and Meimanjan consider a clearing model that considers external assets and business costs of a bank simultaneously by extending the Rogers–Veraart network model with default costs. They prove that clearing payment vectors can be calculated by solving mixed-integer programming problems in which the existence of business costs and default costs are represented by binary variables. The systemic risk measure corresponding to this model yields nonconvex sets of capital allocation vectors. The authors compute these nonconvex sets by solving a multiobjective optimization problem whose scalarizations are two-stage mixed-integer programming problems with an expectation constraint. The computational procedure is versatile enough to accommodate other applications of systemic risk where the risk factors are aggregated by solving a general mixed-integer programming problem.

Biographical Reinvention: An Asset-Based Approach to Understanding the World of Men Living with HIV in Indonesia.

HIV diagnosis and management have often caused disruption to the everyday life and imagined futures of people living with HIV, both at individual and social levels. This disruption has been conceptualised, in a rather dystopian way, as 'biographical disruption'. This paper explores whether or not biographical disruption of living with HIV encourages men living with HIV (MLHIV; n = 40) in Yogyakarta and Belu, Indonesia, to reinvent their sense of self and future over time using internal and external assets. Our analysis uses the concepts of additive and subtractive resilience strategies, and we show how, rather than having a purely disrupted biography, participants talked about their experiences of 'biographical reinvention'. Study participants were recruited using the snowball sampling technique, beginning with two HIV clinics as the settings. Data were collected using one-on-one in-depth interviews, and a qualitative framework analysis was used to guide step-by-step data analysis. The findings showed that, despite the disruptions in their everyday lives (i.e., mental health condition, work, activities, social relationships, etc.) following the HIV diagnosis and management, MLHIV in our study managed to utilise their internal assets or traits (i.e., hope, optimism, resilience) and mobilised external resources (i.e., support from families, friends and healthcare professionals) to cope with the disruptions. An interweaving of these internal assets and external resources enabled them to take on new activities and roles (additive resilience strategies) and give up health compromising behaviours (subtractive resilience strategies). These were effective for most MLHIV in our study, not only to cope with the HIV repercussions and improve their physical and mental health conditions, but to think or work on a 'reinvented' biography which encompassed resilience, hope and optimism for better health, life and future. The findings indicate the need for HIV interventions and healthcare systems that provide appropriate support for the development and maintenance of internal assets of PLHIV to enable them to cope with the repercussions of HIV and work on a 'reinvented' biography.

The Geopolitical “Puzzle” of the Central Bank’s Switch to Gold

Abstract Gold holdings increased during recent time. Geopolitical factors could be responsible for such shift taking into account rising number of conflicts in the world since 2014. However, optimal share for gold in external assets is still disputable. The paper provides empirical tests to identify political economy factors of central bank’s gold holdings. The paper imply two empirical approaches: analysis of how gold reserves in tones and as a share of reserves distributed among the countries with different political regimes; logit regression to identify role of political economy factors that may push countries’ switch to gold. Results of empirical analysis shows that political regime itself is not obvious driving force of gold share. Excluding developed countries, it is possible to see that autocracies do not outperform democracies in terms of mean and median share of gold systematically. Countries demonstrated shifts toward gold early then reference point of 2014 year despite political regime. Logit regression also helps to see that countries heavily have being exposing to gold are more likely hoarding large exchange reserves and politically stable. Proxies of geopolitical aggressiveness are valid with some covenants. While Global Peace Index is well proxy to identify geopolitical preconditions of countries’ switch to gold, military expenditures are not. This means that geopolitical motives of gold hoarding probably work directly and indirectly through exchange reserves accumulation and supportive political stability. Geopolitical aggressiveness that coincides with only large military expenditures but not with reserves accumulation is likely to stand on weak economic ground.

Comparison of the trading strategies and market impact costs of the National Pension Service's internal and external management

As of May 2022, the National Pension Service of Korea is the world's third-largest pension fund, with assets worth KRW912tn (approximately $US800bn). Of the KRW152tn (approximately $US133bn) invested in domestic equities, 45% is outsourced to external asset managers. Given the absence of prior research on the National Pension Service's (NPS's) management method, this study analyzes its trading strategies and market impact according to the fund management method from 2005 to 2022. The results are as follows: First, the stock characteristics selected by internal management using passive strategies are different from those selected by external management, in which various strategies are combined. Second, the contrarian investment strategy, which acts as a market stabilizer, is a characteristic of the external management trading pattern, while internal management increases volatility and does not improve liquidity. Third, there has been a change in the internal management strategy since 2016, when the fund management headquarters was relocated. This study is practically significant and distinctive in that it confirms the differences between the NPS's two investment methods in terms of trading strategies and market impact.

The Role of Family Support and Communication on PrEP Attitudes and Stigma Among Black Men who Sex with Men (BMSM).

This study addresses the gap in the literature on protective factors for preexposure prophylaxis (PrEP) stigma and attitudes among Black men who have sex with men (BMSM) and young adults using the Developmental Assets Framework to examine how external assets (eg, family support, open family communication, and communication with parents about sex and drugs) can help reduce stigma and increase positive attitudes toward PrEP use. A cross-sectional survey was administered to participants (N = 400, mean age = 23.46, standard deviation = 2.59) using Amazon Mechanical Turk, social media sites, and community-based organization. A path analysis was conducted to examine associations between stigma and positive attitudes toward PrEP among external assets (family support, communication with parents about sex and drugs, and open family communication). Communication with parents about sex and drugs was positive and directly associated with PrEP stigma (β = 0.42, P < 0.001). Family support was negative and indirectly associated with stigma associated with PrEP (β = -0.20, P < 0.001). This is the first study to use a developmental asset framework to assess positive PrEP attitudes and stigma among young BMSM. Our results underscore that parents have an influence on human immunodeficiency virus prevention behaviors for BMSM. In addition, their influence can be both positive by helping lowering PrEP stigma and negatively lowering PrEP attitudes. It is critical that we develop culturally competent human immunodeficiency virus and sexuality prevention and intervention programs for BMSM and their families.

Forbearance in Institutional Investment Management: Evidence from Survey Data

We survey 218 institutional investors from 22 countries representing over $4.1 trillion in AUM to understand the drivers of forbearance in the termination of external asset managers. Although asset managers are fired for a variety of reasons, including taking on too much or too little risk as well as organizational changes at the investment manager or institutional investor level, poor performance is by far the dominant cause. There is surprising tolerance for underperformance and holding periods for investment managers are unexpectedly long. Forbearance is important and we argue that performance evaluation should be multifaceted, akin to a Bayesian decision-maker who conducts continued due diligence and updates beliefs about returns with process information.

Gender and educational stage moderate the effects of developmental assets on risk behaviours in youth

ABSTRACT Developmental assets describe sources of individuals’ experiences and supports that impact their developmental outcomes. Internal assets comprise youth skills, competencies, and self-perception, while external assets include support in youth contexts, empowerment, expectations and boundaries, as well as use of free time. The aim of this study was to investigate the relationships between developmental assets and risk behaviours, and if gender and educational stage have moderating roles in these relationships. The types of risk behaviours ranged from expressions of aggression to consumption of addictive substances. Upper secondary school and university students from Croatia (N = 728) reported internal and external developmental assets, and risk behaviours. Our results suggest that developmental assets have similar roles in protecting all students from risk behaviours, apart from expectations and boundaries, which seem to be more protective for boys. Furthermore, the results suggest that developmental assets have a stronger effect on upper secondary school students’ risk behaviours.

“It’s like an elephant in the room with my family”: LGBTQ+ College Students’ Identity Expression During the COVID-19 Pandemic

The COVID-19 pandemic led many college campuses to close and transition to remote learning. For lesbian, gay, bisexual, transgender, queer, questioning, or otherwise non-heterosexual or cisgender (LGBTQ+) college students, these disruptions may have affected their ability to express their sexual orientation and gender identity (SOGI). We used a developmental assets framework and minority stress theory with open-ended survey responses to examine LGBTQ+ students’ ( N = 411, Mage = 20.5; 38.4% bisexual; 48.7% women) perceptions of whether and how their SOGI expression changed due to the pandemic. We found the majority of LGBTQ+ students described their SOGI expression as restricted. However, some students perceived no change or improvements in their SOGI expression. We also examined whether perceived change in expression differed by gender identity (transgender and gender non-conforming [TGNC] compared to cisgender), and whether students lived with family. TGNC students and students who lived with family were more likely than their peers to report restricted expression and TGNC students were more likely than cisgender students to perceive improvements in their expression. Our findings highlight the internal and external assets that promote positive developmental outcomes for adolescents with minoritized identities and how universities might support LGBTQ+ students.