Strong Factor Structure Research Articles

FOBism Unveiled: Quantifying Assimilative Racism within Asians in the United States.

FOB (fresh-off-the-boat) is a term used to refer to unassimilated immigrants or sojourners, which has created a divide within the Asian community. In this study, we coined the term FOBism, a form of internalized racism (or appropriated racial oppression) that intersects with assimilation, and we developed a measure of FOBism. We created a 14-item, 3-factor FOBism Scale and evaluated its psychometric properties among a sample of 296 Asians in the United States. Exploratory structural equation modeling (ESEM) was utilized to select items and evaluate the factorial validity. Results yielded a strong factor structure, internal consistency reliability, and construct validity. Construct validity was demonstrated through FOBism scores' positive correlations with measures of within-group discrimination and internalized racism, and negative associations with an Asian cultural orientation. The FOBism Scale is a promising measure that could be used as an assessment tool and to raise awareness of the phenomenon.

Improved Scoring of the Center for Epidemiologic Studies Depression Scale – Revised: An Item Response Theory Analysis

The Center for Epidemiologic Studies Depression Scale – Revised (CESD-R) is a popular self-report screening measure for depression. A 20-item questionnaire with scores ranging from 0 to 4 for each item, the CESD-R can produce total scores ranging from 0 to 80. However, the typical scoring protocol for the CESD-R restricts the range of possible scores to between 0 and 60 to retain the same range and clinical cutoff scores as the original CES-D. Despite the widespread adoption of this scoring approach, the psychometric impact has never been systematically examined. In an undergraduate and community adult sample (n = 869), item response theory analyses indicated that scoring the CESD-R with all 5 response options (CESD-R5opt) provided nearly twice as much information about a person’s latent depression for individuals with high levels of depression than did scoring the CESD-R with 4 response options per item (CESD-R4opt). The CESD-R5opt retained the strong reliability and factor structure of the CESD-R4opt and was more sensitive to individual differences for participants at high levels of depression compared to the CESD-R4opt. Results provide preliminary evidence that researchers and clinicians should score the CESD-R using the full 0-to-80 scale and a clinical cutoff score of 29.

What are the active ingredients in recovery activities? Introducing a dimensional approach.

Although previous research suggests that off-job activities are generally important for recovery from work stress, a profound understanding of which aspects of recovery activities benefit the recovery process and why is still lacking. In the present work, we introduce a dimensional approach toward studying recovery activities and present a taxonomy of key recovery activity dimensions (physical, mental, social, spiritual, creative, virtual, and outdoor). Across four studies (total N = 908) using cross-sectional, time-lagged, and a diary design, we develop and validate the Recovery Activity Characteristics (RAC) questionnaire, a multidimensional measure of RAC. Results demonstrate its content validity, high scale reliabilities, and a strong factor structure. With a 10-day diary study involving two daily measurement occasions, we demonstrate the role of RAC for recovery experiences and downstream well-being outcomes. Findings underscore the importance of carefully differentiating the active ingredients of recovery activities as they differentially relate to same evening and next-morning exhaustion and vigor. (PsycInfo Database Record (c) 2023 APA, all rights reserved).

Approximate factor models with weaker loadings

Pervasive cross-section dependence is increasingly recognized as a characteristic of economic data and the approximate factor model provides a useful framework for analysis. Assuming a strong factor structure where Λ0′Λ0/Nα is positive definite in the limit when α=1, early work established convergence of the principal component estimates of the factors and loadings up to a rotation matrix. This paper shows that the estimates are still consistent and asymptotically normal when α∈(0,1] albeit at slower rates and under additional assumptions on the sample size. The results hold whether α is constant or varies across factor loadings. The framework developed for heterogeneous loadings and the simplified proofs that can be also used in strong factor analysis are of independent interest.

Executive function measurement in urban schools: Exploring links between performance-based metrics and teacher ratings.

When compared to research centered on the executive function development of white, middle-class children, relatively little is known about their non-white, low socioeconomic status peers. In an effort to harmonize how executive functions are measured within under-represented contexts, the present study addresses gaps in the evaluation of everyday executive functioning to better understand whether behavior rating scales completed by teachers (BASC2EF - BASC executive function scale, 2nd edition; BASC3EF - BASC executive function scale, 3rd edition) capture distinctions between performance-based measures. This study includes two large samples of older, ethnic minority children from high-poverty backgrounds (Sample 1. N=243; Mage =9.28 years, SDage =0.80; nfemale =125; nAfricanAmerican =216, nLatinAmerican =15, nAsianAmerican =6; Sample 2. N=229; Mage =10.02 years, SDage =1.01; nfemale =120;nAfricanAmerican =132, nLatinAmerican =92, nWhite =3, nPacificIslander =1). Based on structural equation models testing the links between computerized performance-based measures and the teacher rating scales, the results indicate that BASC2EF in its original form might be a good fit for some populations but there is not a strong factor structure for the current high-poverty samples. In addition, post-hoc analyses suggest that only including BASC2EF items also in BASC3EF or using BASC3EF is best practice for high-poverty populations. BASC3EF seems better able to capture different components of performance-driven tasks, whereas BASC2EF captures overall executive functioning better than individual tasks. These findings encourage continued questioning surrounding metrics used to assess everyday executive functions in older children from diverse backgrounds. HIGHLIGHTS: This study explores whether teacher ratings of children's everyday executive functioning (using standardized behavior rating scales) capture distinctions between performance-based measures. Results indicate that BASC2EF teacher rating scale (Karr & Garcia-Barrera, 2017) is not a good representation of everyday executive function behaviors by children from schools in high-poverty communities. The findings suggest that restricting BASC2EF analyses to only items included in BASC3EF (Reynolds & Kamphaus, 2015) or using BASC3EF for high-poverty populations. BASC3EF seems better able to capture the different components of performance-driven tasks, whereas BASC2EF captures overall executive functioning better than individual tasks.

Cultural adaptation and psychometric properties of the Substance Abuse Self-Stigma Scale among Latinos with Substance Use Disorders: An effective screening tool for correctional and community settings.

The present study involves a psychometric evaluation of the Substance Abuse Self-Stigma Scale (SASSS), a 40-item dimensional measure of internalized or self-stigma developed by Jason Luoma and collaborators, among Latinos with Substance Use Disorders (SUDs). The current study's specific aim is to assess the psychometric properties (factor structure and reliability) of the translated and culturally adapted SASSS instrument in a cross-sectional study of individuals (n = 412) with SUDs with or without HIV from correctional facilities and community treatment programs. A confirmatory factor analysis evidenced the four-factor structure of SASSS. Results showed significant correlations with HIV felt stigma among those participants with co-occurring SUD and HIV (n=119), internalized shame, stigma-related interpersonal rejection due to substance abuse, symptoms of depression, substance use within the last 30 days, psychological flexibility, self-esteem, and self-efficacy, supporting good convergent validity. The measure showed a strong factor structure and adequate reliability estimates supporting its applicability to Latinos with SUDs from community and criminal justice settings. Findings are discussed in terms of their implications for studies of stigma impact and intervention.

Abstract- Poster

Introduction:Orthorexia Nervosa (ON) defines as an unhealthy obsession with healthy eating and diets that can starve the body of basic nutrition. A person with ON can spend a great deal of time in planning, preparing, purchasing and consumption of specific food items that they find healthy. Contrary to other eating disorders, a person with ON gives a lot of emphasis on quality rather than quantity of food. There is an ongoing debate regarding its validity as a diagnosis.Aims:To identify the prevalence of ON and to observe its possible relationship with social media use.Methodology:A cross-sectional study was conducted amongst undergraduate students from medical colleges in Gujarat, India. Study participation was anonymous; participants were enrolled using WhatsApp groups. The questionnaire included following data: gender, height, weight, year of study, social media use and ORTO-7. ORTO-7 a seven-item scale found to have a strong and stable factor structure, used for evaluating ON (Cut-off score <= 19 meant probable ON).Results:Out of 975 responses, the prevalence of ON was found 46.5%. On chi-square, it was found associated with gender, Google+, Tumblr and Pinterest use. (p-value is <0.05) However, it was not associated with year of study, Facebook, LinkedIn and Instagram use. We found a negative correlation between BMI and ON.Conclusion:We found a high prevalence of ON screen status in our study population especially in female participants and those using Google+, Tumblr and Pinterest. More such studies are needed to bridge the gap in the literature.

Matrix Completion, Counterfactuals, and Factor Analysis of Missing Data

This article proposes an imputation procedure that uses the factors estimated from a tall block along with the re-rotated loadings estimated from a wide block to impute missing values in a panel of data. Assuming that a strong factor structure holds for the full panel of data and its sub-blocks, it is shown that the common component can be consistently estimated at four different rates of convergence without requiring regularization or iteration. An asymptotic analysis of the estimation error is obtained. An application of our analysis is estimation of counterfactuals when potential outcomes have a factor structure. We study the estimation of average and individual treatment effects on the treated and establish a normal distribution theory that can be useful for hypothesis testing.

Measuring student discussion engagement in the college classroom: a scale validation study

ABSTRACT This paper presents findings from a scale validation study of discussion engagement using data from multiple in-person courses from a public flagship university in the United States. The Discussion Engagement scale conceptualizes discussion as a collective inquiry that requires an inclusive classroom climate and individual contributions that promote the engagement of others. The scale measures individual behaviors and experiences along four dimensions: skills, confidence, openness within classroom discussions, and perception of an inclusive classroom climate. The methodology included: conceptual development of the construct, expert reviews, cognitive interviews, data collection of the target group, exploratory factor analysis, data collection of the target group using a revised scale, confirmatory factor analysis, and comparison with an existing scale. EFA and CFA find that the scale has a strong factor structure that parallels the theoretical framework. The subscales have strong reliability, as well as evidence of convergent and discriminant validity. The Discussion Engagement scale has potential for measuring student-reported experiences with discussion in university courses.

Assessing values within collaborative interventions for families with parental substance use and child welfare involvement

ABSTRACT Effective intervention for families with parental substance use disorders (SUD) and child maltreatment requires multiple agencies to collaborate on system changes to deliver family-centered services. The Collaborative Values Inventory (CVI) was designed for use in multi-system interventions to facilitate understanding of differences in beliefs among professionals. This study reports on significant revisions to the CVI and the psychometrics of the CVI_2. The primary aim was to develop CVI measures suitable for research by identifying a subset of CVI_2 items with adequate factor loadings, sensitivity to interagency differences, and strong overall reliability. The Outcomes CVI includes 24-items that met the inclusion criteria and subsequently showed a strong factor structure and strong unidimensional reliability. Suggestions for research on values and beliefs for family-centered initiatives are included.

Psychometric properties of Guiding Creative Thinking Competency Scale

The purpose of this research is to gather data on how often teachers use creative thinking techniques and encourage students to use such techniques. For this purpose, a valid and reliable scale for guiding creative thinking competency was developed. A survey model was used in the research, which was carried out with participants working as elementary school teachers in Istanbul province of Turkey. The current research was conducted with the participation of 815 individuals in four different sample groups. Data was analyzed via SPSS 21.0 and LISREL software.The findings indicate that there is a positive relationship between teachers’ competency of guiding creative thinking and their own creative thinking dispositions. The competency to guide creative thinking is higher in the case of elementary school teachers who specialize in teaching gifted students than that of those in general education.In conclusion, the scale for creative thinking competency demonstrated a strong factor structure, strong internal consistency and evidence for construct and concurrent validity.

Can the Premium for Idiosyncratic Tail Risk be Explained by Exposures to its Common Factor?

Stocks in the highest idiosyncratic tail risk decile earn 8% higher average annualized returns than in the lowest. I propose a risk-based explanation for this premium, in which shocks to intermediary funding cause idiosyncratic tail risk to follow a strong factor structure, and the factor, common idiosyncratic tail risk (CITR), comoves with intermediary funding. Consequently, firms with high idiosyncratic tail risk have high exposure to CITR shocks, and command a risk premium due to their low returns when intermediary constraints tighten. To test my explanation, I create a novel measure of idiosyncratic tail risk that is estimated using high-frequency returns, and theoretically establish its time-aggregation properties. Consistent with my explanation, CITR shocks are procyclical, are correlated to intermediary factors, are priced in assets, and explain the idiosyncratic tail risk premium. Furthermore, volume tail risk also earns a premium, follows a strong factor structure, and its common factor is priced. This duality of idiosyncratic tail risk and volume tail risk provides evidence for my risk-based explanation, and further supports the hypothesis that intermediaries' large trades cause idiosyncratic tail risk and volume tail risk from Gabaix et al. (2006).

A Multi-Factor Model of Idiosyncratic Volatility

Time-varying leverage driven by common shocks to firm asset returns introduces a factor structure in idiosyncratic equity return volatilities (IVOL). In a standard dynamic capital structure model in which the CAPM holds for asset returns, we show that three factors explain the IVOL cross-section: the average IVOL mainly captures market-wide leverage dynamics, and a size factor and a leverage-driven factor account for the time-varying dispersion. Just like equity IVOL, debt return IVOL shows a strong factor structure and the two are strongly correlated. Our findings also shed light on the negative IVOL-return puzzle and the time-series pattern of average IVOL.

Relative Entropy and Minimum-Variance Pricing Kernel in Asset Pricing Model Evaluation.

Recent literature shows that many testing procedures used to evaluate asset pricing models result in spurious rejection probabilities. Model misspecification, the strong factor structure of test assets, or skewed test statistics largely explain this. In this paper we use the relative entropy of pricing kernels to provide an alternative framework for testing asset pricing models. Building on the fact that the law of one price guarantees the existence of a valid pricing kernel, we study the relationship between the mean-variance efficiency of a model’s factor-mimicking portfolio, as measured by the cross-sectional generalized least squares (GLS) statistic, and the relative entropy of the pricing kernel, as determined by the Kullback–Leibler divergence. In this regard, we suggest an entropy-based decomposition that accurately captures the divergence between the factor-mimicking portfolio and the minimum-variance pricing kernel resulting from the Hansen-Jagannathan bound. Our results show that, although GLS statistics and relative entropy are strongly correlated, the relative entropy approach allows us to explicitly decompose the explanatory power of the model into two components, namely, the relative entropy of the pricing kernel and that corresponding to its correlation with asset returns. This makes the relative entropy a versatile tool for designing robust tests in asset pricing.

A new measurement tool to assess the deliberate overfeeding of others: The Feeder questionnaire.

Whilst overeating is often influenced by others in an implicit way, people may also explicitly encourage others to overeat. This has been labelled being "a Feeder" but to date, this more deliberate trait remains neglected. This study aimed to conceptualize being "a Feeder" in terms of motivations and behaviour and to operationalize this construct with a new measurement tool through five stages with three discrete samples. Using the definition of a Feeder as "someone who offers others food even when they are not hungry" a preliminary qualitative study (n = 5) clarified the behaviour of a Feeder and revealed six motivations for such feeder behaviour. These six motivational dimensions and the feeder behaviours were operationalized with individual items and the psychometric properties of the scale were assessed using two independent samples (n = 116; n = 113). The final 27-item measure consisted of six motivational factors (affection; waste avoidance; status; hunger avoidance; offloading; manners) and one behaviour factor, all with good internal consistency (α ≥ .7). The two samples were then merged (n = 229) to describe motivations and behaviour and to assess the association between them. The best predictors of feeder behaviour were love, offloading, manners and status. This new Feeder questionnaire has a strong factor structure and good internal consistency and could be used for further research or clinical practice.

Common Fund Flows: Flow Hedging and Factor Pricing

Active mutual funds care about fund size, affected by common fund flows driven by primitive shocks. Funds hedge against common-flow shocks by tilting their portfolios toward low-flow-beta stocks. In equilibrium, common fund flows earn a risk premium, leading to a multi-factor asset-pricing model similar to the ICAPM, even with all agents behaving myopically and using naive asset-pricing models. Empirically, fund flows obey a strong factor structure with the common component earning a risk premium, and fund portfolios are, on average, tilted toward low-flow-beta stocks. This tilt increases in magnitude when flow-hedging motives strengthen following natural disasters and unexpected trade-war announcements.

Equity Option Pricing with Systematic and Idiosyncratic Volatility and Jump Risks

Recently, a large number of empirical studies indicated that individual equity options exhibit a strong factor structure. In this paper, the importance of systematic and idiosyncratic volatility and jump risks on individual equity option pricing is analyzed. First, we propose a new factor structure model for pricing the individual equity options with stochastic volatility and jumps, which takes into account four types of risks, i.e., the systematic diffusion, the idiosyncratic diffusion, the systematic jump, and the idiosyncratic jump. Second, we derive the closed-form solutions for the prices of both the market index and individual equity options by utilizing the Fourier inversion. Finally, empirical studies are carried out to show the superiority of our model based on the S&amp;P 500 index and the stock of Apple Inc. on options. The out-of-sample pricing performance of our proposed model outperforms the other three benchmark models especially for short term and deep out-of-the-money options.

P558 Validation of the ‘IBD Disk’ in clinical practice

Abstract Background The inflammatory bowel disease (IBD) Disk is a tool that has been developed from the IBD Disability Index in order to objectively measure the degree of disability in patients suffering from IBD. It provides a visual representation of disability state, thereby increasing the ease of application in a clinical setting. Currently, it has not yet been validated in any population. Our primary aim was to hence validate the IBD Disk in a clinical setting. Methods 40 patients were recruited from an outpatient setting in a tertiary centre in Australia. All patients completed four surveys, the IBD Disk, the IBD Disability Index (IBD-DI), the Hospital Anxiety and Depression Score (HADS) and the Shortened IBD Questionnaire (SIBDQ). Nineteen of these patients then elaborated on their answers in a semi-structured narrative interview based on the IBD Disk. After a consultation with a gastroenterologist, the treating doctors were also asked to fill out an IBD Disk based on their own perceptions of the participant’s degree of disability. The IBD Disk was assessed for its internal consistency, construct validity and factor structure. The qualitative data were analysed and coded using NVIVO and then associated to IBD Disk scores. Results Of the patients recruited 48% were female, 30% had ulcerative colitis and 52% were in clinical remission. Average IBD Disk score was 40.75. Our results suggest the IBD Disk is an internally consistent tool for clinical use when assessing disability (Cronbach’s Α = 0.888). This is supported by statistically significant differences in IBD Disk scores between patients in clinical remission and patients with active disease (p = 0.002). There is also a good correlation between the Patient-Reported IBD Disk scores and the IBD-DI scores (r = 0.864), Doctor Perceived IBD Disk scores (r = 0.794) and the HADS Depression score (r = 0.759). IBD Disk scores also negatively correlated with the Shortened IBD Questionnaire (r = −0.864). Qualitative data also correlate well thematically with IBD Disk scores. These results suggest an appropriate system for grading disability status via the IBD Disk is: 0–24 = no disability; 25–49 = mild disability; 50–74 = moderate disability; and, 75–100 = severe disability. Conclusion This study supports the use of the IBD Disk as a reliable and valid self-reporting tool in clinical situations. There is strong internal consistency, construct validity, factor structure and qualitative thematic association. However, more data are needed to further validate the IBD Disk. Most significantly though, the IBD Disk is likely to become a valuable tool for the practical assessment of disability in patients with IBD in the near future.

Asset Pricing Test Using Alternative Sets of Portfolios: Evidence from India

Empirical test of asset-pricing models are typically performed on portfolios based on firm-characteristics such as size and book-to-market ratios etc. However, because of their strong factor structure, the characteristic sorted portfolios do not provide a sufficient test for asset pricing models. In recent, the appropriateness to use characteristics sorted portfolios has been debated. Literature suggests various alternative test portfolios sorted by other attributes to improve the empirical tests. To address this issue, we construct three sets of test portfolios sorted by firm beta, volatility, and clustering method to test various asset pricing models. We examine whether portfolios sorted by the above methods can improve the explanatory power of various alternative asset pricing models. Our test results suggest that for unconditional models, the statistical significance and estimated risk premiums depend on the choice of tests portfolios. The conditional model has more power to explain the variation of average returns than the unconditional model.

EMPIRICALLY TESTING THE VALIDITY AND RELIABILITY OF THE CULTURAL INTELLIGENT SCALE TO STUDY INTRA-CULTURAL ACCULTURALIZATION

ABSTRACT The application of the Cultural Intelligence Scale has rapidly increased since its development by Ang et al. (2007). However, the focus of the research related to cultural intelligence has neglected subcultures and the related impacts that acculturation has on them. There is a paucity in the literature for the intracultural relations. Hence, this paper looks at the validity and reliability of the Cultural Intelligence Scale to measure intracultural acculturation process. This would allow future researchers to expand the cultural intelligence research to the vast amount of subcultures that exist. This study uses factor analysis, average variance extracted, and Cronbach’s alpha to determine the validity and reliability of the Cultural Intelligence Scale. This study has a sample of 100 African American graduates from Historically Black Colleges and Universities (HBCUs). They work in an organization where most of the employees are non-African Americans. The results of the factor analysis, factor loadings over .50 and no cross loadings, reflect a very strong underlying factor structure. The average variance extracted of 0.535 means that more variance is explained than error remaining in the latent construct and the Cronbach’s alpha of .933 reflects the strong reliability of the Cultural Intelligence Scale when applied to subcultures. These findings suggest the high level of validity and reliability of the Cultural Intelligence Scale when applied to subcultures. Implications from this research as well as limitations and future research directions are also discussed. Keywords Culture; Subculture; Acculturation; Cultural Intelligence; Intercultural; Intracultural