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Institution

City University London

EducationLondon, United Kingdom
About: City University London is a education organization based out in London, United Kingdom. It is known for research contribution in the topics: Population & Health care. The organization has 5735 authors who have published 17285 publications receiving 453290 citations.


Papers
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Journal ArticleDOI
TL;DR: Research on the validity of knowledge tests, low-f fidelity simulations, and high-fidelity simulations in advanced-level high-stakes settings is integrated and a model and hypotheses of how these 3 predictors work in combination to predict job performance were developed.
Abstract: In high-stakes selection among candidates with considerable domain-specific knowledge and experience, investigations of whether high-fidelity simulations (assessment centers; ACs) have incremental validity over low-fidelity simulations (situational judgment tests; SJTs) are lacking. Therefore, this article integrates research on the validity of knowledge tests, low-fidelity simulations, and high-fidelity simulations in advanced-level high-stakes settings. A model and hypotheses of how these 3 predictors work in combination to predict job performance were developed. In a sample of 196 applicants, all 3 predictors were significantly related to job performance. Both the SJT and the AC had incremental validity over the knowledge test. Moreover, the AC had incremental validity over the SJT. Model tests showed that the SJT fully mediated the effects of declarative knowledge on job performance, whereas the AC partially mediated the effects of the SJT.

156 citations

Journal ArticleDOI
TL;DR: In this paper, the authors test for the presence of short-term continuation and long-term reversal in commodity futures prices and identify 13 profitable momentum strategies that generate 9.38% average return a year.
Abstract: The article tests for the presence of short-term continuation and long-term reversal in commodity futures prices. While contrarian strategies do not work, the article identifies 13 profitable momentum strategies that generate 9.38% average return a year. A closer analysis of the constituents of the long-short portfolios reveals that the momentum strategies buy backwardated contracts and sell contangoed contracts. The correlation between the momentum returns and the returns of traditional asset classes is also found to be low, making the commodity-based relative-strength portfolios excellent candidates for inclusion in well-diversified portfolios.

156 citations

Journal ArticleDOI
TL;DR: In this paper, the authors formally established sufficient conditions for consistency and asymptotic normality of the quantile regression estimator when the number of individuals, n, and time periods, T, jointly go to infinity.

156 citations

Journal ArticleDOI
TL;DR: The authors examines the growing prominence accorded to the idea of resilience as a regulatory ideal, locating it in the context of a "turn to character" in contemporary culture which we see as...
Abstract: This article examines the growing prominence accorded to the idea of ‘resilience’ as a regulatory ideal, locating it in the context of a ‘turn to character’ in contemporary culture which we see as ...

156 citations

Journal ArticleDOI
TL;DR: In this article, the authors investigate the income drawdown option and define a stochastic optimal control problem, looking for optimal investment strategies to be adopted after retirement, when allowing for periodic fixed withdrawals from the fund.
Abstract: In defined contribution pension schemes, the financial risk is borne by the member. Financial risk occurs both during the accumulation phase (investment risk) and at retirement, when the annuity is bought (annuity risk). The annuity risk faced by the member can be reduced through the “income drawdown option”: the retiree is allowed to choose when to convert the final capital into pension within a certain period of time after retirement. In some countries, there is a limiting age when annuitization becomes compulsory (in UK this age is 75). In the interim, the member can withdraw periodic amounts of money to provide for daily life, within certain limits imposed by the scheme’s rules (or by law). In this paper, we investigate the income drawdown option and define a stochastic optimal control problem, looking for optimal investment strategies to be adopted after retirement, when allowing for periodic fixed withdrawals from the fund. The risk attitude of the member is also considered, by changing a parameter in the disutility function chosen. We find that there is a natural target level of the fund, interpretable as a safety level, which can never be exceeded when optimal control is used. Numerical examples are presented in order to analyse various indices — relevant to the pensioner — when the optimal investment allocation is adopted. These indices include, for example, the risk of outliving the assets before annuitization occurs (risk of ruin), the average time of ruin, the probability of reaching a certain pension target (that is greater than or equal to the pension that the member could buy immediately on retirement), the final outcome that can be reached (distribution of annuity that can be bought at limit age), and how the risk attitude of the member affects the key performance measures mentioned above.

156 citations


Authors

Showing all 5822 results

NameH-indexPapersCitations
Andrew M. Jones10376437253
F. Rauscher10060536066
Thorsten Beck9937362708
Richard J. K. Taylor91154343893
Christopher N. Bowman9063938457
G. David Batty8845123826
Xin Zhang87171440102
Richard J. Cook8457128943
Hugh Willmott8231026758
Scott Reeves8244127470
Sarah-Jayne Blakemore8121129660
Mats Alvesson7826738248
W. John Edmunds7525224018
Sheng Chen7168827847
Christopher J. Taylor7141530948
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Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
202330
2022188
20211,030
20201,011
2019939
2018879