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"Wagner, Christian"
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Low-Risk Anomalies?
This paper shows that low-risk anomalies in the capital asset pricing model and in traditional factor models arise when investors require compensation for coskewness risk. Empirically, we find that option-implied ex ante skewness is strongly related to ex post residual coskewness, which allows us to construct coskewness factor-mimicking portfolios. Controlling for skewness renders the alphas of betting-against-beta and betting-against-volatility insignificant. We also show that the returns of beta- and volatility-sorted portfolios are driven largely by a single principal component, which in turn is explained largely by skewness.
Journal Article
How gamification of an enterprise collaboration system increases knowledge contribution: an affordance approach
Purpose
This study aims to examine how gamification increases employees’ knowledge contribution to the place of work. It develops and tests the conjecture that gamification adds hedonic value to the use of an enterprise collaboration system (ECS), which, in turn, increases in both the quality and quantity of knowledge contribution.
Design/methodology/approach
Drawing on the framework of successful gamification against a backdrop of affordance theory, this study develops and tests a theoretical model that explains the effects of gamification affordances on knowledge contribution via the use of an ECS. Empirical data were gathered from 166 employees at a global company that used a gamified ECS designed to aid knowledge sharing.
Findings
Results using structural equation modeling showed that three gamification affordances – rewardability, competition and visibility of achievement – jointly influenced employees’ perceived hedonic value of the ECS, which, in turn, increased knowledge contribution.
Practical implications
The results indicate that designing affordances that can increase hedonic value is central to facilitating employees’ knowledge contribution. However, simply incorporating game artifacts does not guarantee increased hedonic value of an ECS. Instead, assessing, monitoring and diagnosing what affordances users perceive from the use of a gamified system are important.
Originality/value
By conceptualizing gamification affordances rather than specifying the design features of enterprise applications, this study provides meaningful insights into how the benefits of gamification can be harnessed for knowledge management in organizations.
Journal Article
Empathy or perceived credibility? An empirical study on individual donation behavior in charitable crowdfunding
Purpose
Researchers have called for the synthesis of divergent perspectives and the development of a theoretical model that examines individuals’ donation behavior in charitable crowdfunding. To fill this research gap, the purpose of this paper is to synthesize the literature pertaining to the determinants of donation behavior in charitable crowdfunding. Then, drawing on the stimulus-organism-response framework, the authors develop and test a model that explains individuals’ intention to donate to charitable crowdfunding.
Design/methodology/approach
This paper follows a quantitative research approach. An online survey was distributed to collect data from individuals who had experienced charitable crowdfunding. In total, 205 valid responses were received and analyzed.
Findings
First, this study finds that individuals’ empathy and the perceived credibility of a charitable crowdfunding project are key determinants for their intention to donate in charitable crowdfunding. Second, the study finds that website quality, transaction convenience, and project content quality influence both empathy and perceived credibility in different ways. Third, it is noteworthy that initiator reputation is positively related to perceived credibility, while project popularity is positively associated with empathy.
Originality/value
This research advances the knowledge of individual donation behavior in charitable crowdfunding. The model can help researchers understand individuals’ philanthropic behavior by providing empirical explanations of the interplay between technological and project characteristics, emotional and cognitive states, and individuals’ donation behavior. For practitioners, the research suggests appropriate design, launch, and operation strategies to facilitate individuals’ donation behavior in charitable crowdfunding.
Journal Article
Trends in the Diversification of the Detergentome
Detergents are amphiphilic molecules that serve as enabling steps for today's world applications. The increasing diversity of the detergentome is key to applications enabled by detergent science. Regardless of the application, the optimal design of detergents is determined empirically, which leads to failed preparations, and raising costs. To facilitate project planning, here we review synthesis strategies that drive the diversification of the detergentome. Synthesis strategies relevant for industrial and academic applications include linear, modular, combinatorial, bio‐based, and metric‐assisted detergent synthesis. Scopes and limitations of individual synthesis strategies in context with industrial product development and academic research are discussed. Furthermore, when designing detergents, the selection of molecular building blocks, i. e., head, linker, tail, is as important as the employed synthesis strategy. To facilitate the design of safe‐to‐use and tailor‐made detergents, we provide an overview of established head, linker, and tail groups and highlight selected scopes and limitations for applications. It becomes apparent that most recent contributions to the increasing chemical diversity of detergent building blocks originate from the development of detergents for membrane protein studies. The overview of synthesis strategies and molecular blocks will bring us closer to the ability to predictably design and synthesize optimal detergents for challenging future applications. Growing detergentome. Recent synthesis concepts and detergent building blocks, i. e., head, linker, tail, are reviewed regarding their availability and role in the expansion of the detergentome (entirety of all detergents). The development of detergents for membrane protein studies turns out to be a key driver for detergent diversity. Metric‐assisted optimization strategies will facilitate the development of tailor‐made and safe‐to‐use detergents.
Journal Article
Classification of red blood cell shapes in flow using outlier tolerant machine learning
The manual evaluation, classification and counting of biological objects demands for an enormous expenditure of time and subjective human input may be a source of error. Investigating the shape of red blood cells (RBCs) in microcapillary Poiseuille flow, we overcome this drawback by introducing a convolutional neural regression network for an automatic, outlier tolerant shape classification. From our experiments we expect two stable geometries: the so-called 'slipper' and 'croissant' shapes depending on the prevailing flow conditions and the cell-intrinsic parameters. Whereas croissants mostly occur at low shear rates, slippers evolve at higher flow velocities. With our method, we are able to find the transition point between both 'phases' of stable shapes which is of high interest to ensuing theoretical studies and numerical simulations. Using statistically based thresholds, from our data, we obtain so-called phase diagrams which are compared to manual evaluations. Prospectively, our concept allows us to perform objective analyses of measurements for a variety of flow conditions and to receive comparable results. Moreover, the proposed procedure enables unbiased studies on the influence of drugs on flow properties of single RBCs and the resulting macroscopic change of the flow behavior of whole blood.
Journal Article
Inducing individuals to engage in a gamified platform for environmental conservation
PurposeThis research draws on goal framing theory and gamification affordance to understand how gamification design encourages users' continuous usage of information systems (IS) to perform proenvironmental behaviors.Design/methodology/approachSurvey data (N = 307) were collected from users of a gamified IS designed for environmental protection. The research model was examined with structural equation modeling.FindingsSatisfying users' demand on green effectiveness, enjoyment, and social gain directly/indirectly predicts users' intention to continue to utilize the gamified IS for proenvironmental behaviors. Moreover, gamification affordance of autonomy support, visibility of achievement, competition, and interactivity influences the satisfaction of the users' relevant demands.Originality/valueThis research contributes to the IS research for environmental sustainability at the individual level. Specifically, this research extends the understanding of users' decision-making on continuance and the role of gamification design in the context of gamified IS developed for environmental conservation.
Journal Article
Functional health literacy and health-promoting behaviour in a national sample of British adults
Objectives:To measure the prevalence of limited functional health literacy in the UK, and examine associations with health behaviours and self-rated health.Design:Psychometric testing using a British version of the Test of Functional Health Literacy in Adults (TOFHLA) in a population sample of adults.Setting:UK-wide interview survey (excluding Northern Ireland and the Scottish Isles).Participants:759 adults (439 women, 320 men) aged 18–90 years (mean age _ 47.6 years) selected using random location sampling.Main outcome measures:Functional health literacy, self-rated health, fruit and vegetable consumption, physical exercise and smoking.Results:We found that 11.4% of participants had either marginal or inadequate health literacy. Multivariable logistic regression analysis indicated that the risk of having limitations in health literacy increased with age (adjusted odds ratio 1.04; 95% confidence interval 1.02 to 1.06), being male (odds ratio _ 2.04; 95% confidence interval 1.16 to 3.55), low educational attainment (odds ratio _ 7.46; 95% confidence interval 3.35 to 16.58) and low income (odds ratio _ 5.94; 95% confidence interval 1.87 to 18.89). In a second multivariable logistic regression analysis, every point higher on the health literacy scale increased the likelihood of eating at least five portions of fruit and vegetables a day (odds ratio _ 1.02; 95% confidence interval 1.003 to 1.03), being a non-smoker (odds ratio _ 1.02; 95% confidence interval 1.0003 to 1.03) and having good self-rated health (odds ratio _ 1.02; 95% confidence interval 1.01 to 1.04), independently of age, education, gender, ethnicity and income.Conclusions:The results encourage efforts to monitor health literacy in the British population and examine associations with engagement with preventative health behaviours.
Journal Article
Outcomes of the Bowel Cancer Screening Programme (BCSP) in England after the first 1 million tests
Introduction The Bowel Cancer Screening Programme in England began operating in 2006 with the aim of full roll out across England by December 2009. Subjects aged 60–69 are being invited to complete three guaiac faecal occult blood tests (6 windows) every 2 years. The programme aims to reduce mortality from colorectal cancer by 16% in those invited for screening. Methods All subjects eligible for screening in the National Health Service in England are included on one database, which is populated from National Health Service registration data covering about 98% of the population of England. This analysis is only of subjects invited to participate in the first (prevalent) round of screening. Results By October 2008 almost 2.1 million had been invited to participate, with tests being returned by 49.6% of men and 54.4% of women invited. Uptake ranged between 55–60% across the four provincial hubs which administer the programme but was lower in the London hub (40%). Of the 1.08 million returning tests 2.5% of men and 1.5% of women had an abnormal test. 17 518 (10 608 M, 6910 F) underwent investigation, with 98% having a colonoscopy as their first investigation. Cancer (n=1772) and higher risk adenomas (n=6543) were found in 11.6% and 43% of men and 7.8% and 29% of women investigated, respectively. 71% of cancers were ‘early’ (10% polyp cancer, 32% Dukes A, 30% Dukes B) and 77% were left-sided (29% rectal, 45% sigmoid) with only 14% being right-sided compared with expected figures of 67% and 24% for left and right side from UK cancer registration. Conclusion In this first round of screening in England uptake and fecal occult blood test positivity was in line with that from the pilot and the original European trials. Although there was the expected improvement in cancer stage at diagnosis, the proportion with left-sided cancers was higher than expected.
Journal Article
Cognitive Function and Health Literacy Decline in a Cohort of Aging English Adults
ABSTRACT
BACKGROUND
Low health literacy is common among aging patients and is a risk factor for morbidity and mortality. We aimed to describe health literacy decline during aging and to investigate the roles of cognitive function and decline in determining health literacy decline.
METHODS
Data were from 5,256 non-cognitively impaired adults aged ≥ 52 years in the English Longitudinal Study of Ageing. Health literacy was assessed using a four-item reading comprehension assessment of a fictitious medicine label, and cognitive function was assessed in a battery administered in-person at baseline (2004–2005) and at follow-up (2010–2011).
RESULTS
Overall, 19.6 % (1,032/5,256) of participants declined in health literacy score over the follow-up. Among adults aged ≥ 80 years at baseline, this proportion was 38.2 % (102/267), compared to 14.8 % (78/526) among adults aged 52–54 years (OR = 3.21; 95 % CI: 2.26–4.57). Other sociodemographic predictors of health literacy decline were: male sex (OR = 1.20; 95 % CI: 1.04–1.38), non-white ethnicity (OR = 2.42; 95 % CI: 1.51–3.89), low educational attainment (OR = 1.58; 95 % CI: 1.29–1.95 for no qualifications vs. degree education), and low occupational class (OR = 1.67; 95 % CI: 1.39–2.01 for routine vs. managerial occupations). Higher baseline cognitive function scores protected against health literacy decline, while cognitive decline (yes vs. no) predicted decline in health literacy score (OR = 1.59; 95 % CI: 1.35–1.87 for memory decline and OR = 1.56; 95 % CI: 1.32–1.85 for executive function decline).
CONCLUSIONS
Health literacy decline appeared to increase with age, and was associated with even subtle cognitive decline in older non-impaired adults. Striking social inequalities were evident, whereby men and those from minority and deprived backgrounds were particularly vulnerable to literacy decline. Health practitioners must be able to recognize limited health literacy to ensure that clinical demands match the literacy skills of diverse patients.
Journal Article