We show that firms with Chief Executive Officers (CEOs) who personally benefit from options backdating are more likely to engage in other corporate misbehaviors, suggestive of an unethical corporate ...culture. These firms are more likely to commit financial fraud to overstate earnings. They acquire more private companies, which could perpetuate their frauds, and their acquisitions are met with lower market responses. These misbehaviors are concentrated in firms with externally hired suspect CEOs, consistent with outside CEOs having greater discretion to shape firm culture. The costs of these misbehaviors are reflected in larger stock price declines during a market correction and increased CEO replacement.
The Schizotypal Personality Questionnaire (SPQ; Raine, 1991) is one of the most commonly used self-report measures of schizotypal personality traits. Previous work has found that the SPQ has a 3- or ...4-factor structure, but most of this work was with White participants. Little is known about the psychometric properties of the scale in Pacific Islander populations, and some evidence suggests scores may differ between White and Asian participants. The current study included 398 Asian, 293 White, 159 Pacific Islander, and 308 multiethnic nonclinical participants. A 4-factor model fit the data well, and this factor structure displayed configural and metric invariance, suggesting that the factor structure is the same across these diverse groups. However, results provided mixed evidence for scalar invariance, suggesting the scale may lack scalar invariance in these populations. Follow-up analyses revealed that the questionable scalar invariance was related to the intercepts of the Ideas of Reference and Suspiciousness subscales in the White sample. This suggests that mean comparisons among ethnic groups involving the Ideas of Reference and Suspiciousness subscales are not appropriate.
Self-concept clarity refers to the extent to which one holds a coherent, consistent, and stable view of one’s attributes and conceptualization of the self. Self-concept clarity is related to a number ...of constructs including psychopathology, adaptive development, cultural identity, coping style, and leadership. The most commonly used measure is the Self-Concept Clarity Scale (SCCS; Campbell et al.
1996
). The SCCS has been used in diverse groups and provides evidence that self-concept clarity varies among ethnicities and between sexes. This study tested the measurement invariance of SCCS scores across large samples of White (
n
= 696), East Asian (
n
= 794), Southeast Asian (
n
= 489), Pacific Islander (
n
= 238), and Multiracial (
n
= 490) participants, and between sexes. Findings indicate that the SCCS has configural, metric, scalar, and strict invariance among races and between sexes. The latent factor variance and means were also equal across groups. These results suggest that the SCCS measures the same construct among groups and that scores represent the same level of self-concept clarity among groups. The current study found small but statistically significant differences among races in SCCS scores, which likely represent actual differences in self-concept clarity rather than different psychometric properties among groups.
Measurement invariance is an understudied topic in much of psychopathology research, but its effects have far‐reaching consequences. It has rarely been examined with respect to hierarchical models of ...psychopathology. He & Li’s (2020) study represents one of the first attempts to bridge the gap between relatively narrow focused studies on the psychometric properties of specific assessments with broader research on the hierarchical structure of psychopathology. The results are promising, but more research is needed to understand the impact of culture, race, and ethnicity on the expression of psychopathology. Future research may determine whether dimensional and hierarchical models decrease the effect of cultural biases on assessment and help to further understand the etiology of epidemiological differences in rates of disorders. These models may also help to account for culture‐bound syndromes.
Traditional diagnostic systems went beyond empirical evidence on the structure of mental health. Consequently, these diagnoses do not depict psychopathology accurately, and their validity in research ...and utility in clinicalpractice are therefore limited. The Hierarchical Taxonomy of Psychopathology (HiTOP) consortium proposed a model based on structural evidence. It addresses problems of diagnostic heterogeneity, comorbidity, and unreliability. We review the HiTOP model, supporting evidence, and conceptualization of psychopathology in this hierarchical dimensional framework. The system is not yet comprehensive, and we describe the processes for improving and expanding it. We summarize data on the ability of HiTOP to predict and explain etiology (genetic, environmental, and neurobiological), risk factors, outcomes, and treatment response. We describe progress in the development of HiTOP-based measures and in clinical implementation of the system. Finally, we review outstanding challenges and the research agenda. HiTOP is of practical utility already, and its ongoing development will produce a transformative map of psychopathology.
Attentive insider trading Alldredge, Dallin M.; Cicero, David C.
Journal of financial economics,
01/2015, Letnik:
115, Številka:
1
Journal Article
Recenzirano
We provide evidence that some profitable insider stock selling is motivated by public information. At firms that disclose having concentrated sales relationships, insiders appear to sell their own ...stock profitably based on public information about their principal customers. Supplier insiders also sell more stock when public information about their customers׳ recent returns and earnings surprises suggests they will earn larger profits. These results are stronger when outside investor attention could be lower. Outside of this setting, insiders engage in a higher proportion of routine sales and their sales are less profitable. We do not find similar patterns for insider purchases.
FORE! An Analysis of CEO Shirking Biggerstaff, Lee; Cicero, David C.; Puckett, Andy
Management science,
07/2017, Letnik:
63, Številka:
7
Journal Article
Recenzirano
Using golf play as a measure of leisure, we provide direct evidence that some CEOs shirk their responsibilities to the detriment of firm shareholders. CEOs with lower equity-based incentives play ...more golf and those that golf the most are associated with firms that have lower operating performance and firm values. Numerous tests accounting for the possible endogenous nature of these relations support a conclusion that CEO shirking causes lower firm performance. New CEOs and those at firms with more independent boards are more likely to be replaced when they shirk, but those with long tenures or less independent boards appear to avoid discipline.
This paper was accepted by Lauren Cohen, finance
.
The associations among normal personality and many mental disorders are well established, but it remains unclear whether and how symptoms of schizophrenia and schizotypal traits align with the ...personality taxonomy. This study examined the joint factor structure of normal personality, schizotypy, and schizophrenia symptoms in people with psychotic disorders (n = 288) and never-psychotic adults (n = 257) in the Suffolk County Mental Health Project. First, we evaluated the structure of schizotypal (positive schizotypy, negative schizotypy, and mistrust) and normal traits. In both the psychotic-disorder and never-psychotic groups, the best-fitting model had 5 factors: neuroticism, extraversion, conscientiousness, agreeableness, and psychoticism. The schizotypy traits were placed on different dimensions: negative schizotypy went on (low) extraversion, whereas positive schizotypy and mistrust went on psychoticism. Next, we added symptoms to the model. Numerous alternatives were compared, and the 5-factor model remained best-fitting. Reality distortion (hallucinations and delusions) and disorganization symptoms were placed on psychoticism, and negative symptoms were placed on extraversion. Models that separated symptom dimensions from trait dimensions did not fit well, arguing that taxonomies of symptoms and traits are aligned. This is the first study to show that symptoms of psychosis, schizotypy, and normal personality reflect the same underlying dimensions. Specifically, (low) extraversion, negative schizotypy, and negative symptoms form one spectrum, whereas psychoticism, positive schizotypy, and positive and disorganized symptoms form another. This framework helps to understand the heterogeneity of psychosis and comorbidity patterns found in psychotic disorders. It also underscores the importance of traits to understanding these disorders.
Objective: Diagnosis is a cornerstone of clinical practice for mental health care providers, yet traditional diagnostic systems have well-known shortcomings, including inadequate reliability, high ...comorbidity, and marked within-diagnosis heterogeneity. The Hierarchical Taxonomy of Psychopathology (HiTOP) is a data-driven, hierarchically based alternative to traditional classifications that conceptualizes psychopathology as a set of dimensions organized into increasingly broad, transdiagnostic spectra. Prior work has shown that using a dimensional approach improves reliability and validity, but translating a model like HiTOP into a workable system that is useful for health care providers remains a major challenge. Method: The present work outlines the HiTOP model and describes the core principles to guide its integration into clinical practice. Results: Potential advantages and limitations of the HiTOP model for clinical utility are reviewed, including with respect to case conceptualization and treatment planning. A HiTOP approach to practice is illustrated and contrasted with an approach based on traditional nosology. Common barriers to using HiTOP in real-world health care settings and solutions to these barriers are discussed. Conclusions: HiTOP represents a viable alternative to classifying mental illness that can be integrated into practice today, although research is needed to further establish its utility.
What is the public health significance of this article?
Redefining a taxonomy of psychopathology according to data results in dimensions, not categories, that can be organized hierarchically-with at least six higher level spectra near the top of the model and more specific lower level components and traits at the bottom. This approach may improve case conceptualizations and align more closely with transdiagnostic treatments, while also specifying more narrow targets for intervention. A case illustration shows how the HiTOP model can be used in clinical practice today, although additional research is needed to fully assess the utility of this approach for providers and patients.
Shortcomings of approaches to classifying psychopathology based on expert consensus have given rise to contemporary efforts to classify psychopathology quantitatively. In this paper, we review ...progress in achieving a quantitative and empirical classification of psychopathology. A substantial empirical literature indicates that psychopathology is generally more dimensional than categorical. When the discreteness versus continuity of psychopathology is treated as a research question, as opposed to being decided as a matter of tradition, the evidence clearly supports the hypothesis of continuity. In addition, a related body of literature shows how psychopathology dimensions can be arranged in a hierarchy, ranging from very broad “spectrum level” dimensions, to specific and narrow clusters of symptoms. In this way, a quantitative approach solves the “problem of comorbidity” by explicitly modeling patterns of co‐occurrence among signs and symptoms within a detailed and variegated hierarchy of dimensional concepts with direct clinical utility. Indeed, extensive evidence pertaining to the dimensional and hierarchical structure of psychopathology has led to the formation of the Hierarchical Taxonomy of Psychopathology (HiTOP) Consortium. This is a group of 70 investigators working together to study empirical classification of psychopathology. In this paper, we describe the aims and current foci of the HiTOP Consortium. These aims pertain to continued research on the empirical organization of psychopathology; the connection between personality and psychopathology; the utility of empirically based psychopathology constructs in both research and the clinic; and the development of novel and comprehensive models and corresponding assessment instruments for psychopathology constructs derived from an empirical approach.
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