This study provides the first long-run analysis of the skill of active Australian equity fund managers based on trades inferred from a market-wide database of monthly portfolio holdings over the period 1994-2009. In addition to confirming previous findings that skill exists amongst active Australian managers using a more comprehensive sample, we also deepen the understanding of this skill in two ways. First, we sharpen the identification of skill by categorizing trades. We find that alpha is concentrated in trades that are more likely to involve informed trading rather than portfolio rebalancing. Second, we investigate skill across manager types. Alpha for growthoriented managers is found to stem from selection skill, while that for value managers appears more related to characteristic exposure. We also find stronger evidence of skill amongst boutique firms relative to more institutionalized managers.

Background The Social Engagement Framework for Addressing the Chronic-disease-challenge (SEFAC) project intends to empower citizens at risk of or with type 2 diabetes (T2DM) and/or cardiovascular disease (CVD) to self-manage their chronic conditions through the SEFAC intervention. The intervention combines the concepts of mindfulness, social engagement and information and communication technology support, in order to reduce the burden of citizens with chronic conditions and to increase the sustainability of the health system in four European countries. Methods A prospective cohort study with a 6-month pre-post design will be conducted in four European countries: Croatia, Italy, the Netherlands and the United Kingdom. A total of 360 community-dwelling citizens ≥50 years of age will be recruited; 200 citizens at risk of T2DM and/or CVD in the next 10 years (50 participants in each country) and 160 citizens with T2DM and/or CVD (40 participants in each country). Effects of the intervention in terms of self-management, healthy lifestyle behavior, social support, stress, depression, sleep and fatigue, adherence to medications and health-related quality of life will be assessed. In addition, a preliminary cost-effectiveness analysis will be performed from a societal and healthcare perspective. Discussion The SEFAC project will further elucidate whether the SEFAC intervention is feasible and (cost-) effective among citizens at risk of and suffering from T2DM and/or CVD in different settings. Trial registration ISRCTN registry number is ISRCTN11248135 . Date of registration is 30/08/2018 ( retrospectively registered ). Electronic supplementary material The online version of this article (10.1186/s12889-019-6979-7) contains supplementary material, which is available to authorized users.

This study provides the first long-run analysis of the skill of active Australian equity fund managers based on trades inferred from a market-wide database of monthly portfolio holdings over the period 1994-2009. In addition to confirming previous findings that skill exists amongst active Australian managers using a more comprehensive sample, we also deepen the understanding of this skill in two ways. First, we sharpen the identification of skill by categorizing trades. We find that alpha is concentrated in trades that are more likely to involve informed trading rather than portfolio rebalancing. Second, we investigate skill across manager types. Alpha for growthoriented managers is found to stem from selection skill, while that for value managers appears more related to characteristic exposure. We also find stronger evidence of skill amongst boutique firms relative to more institutionalized managers.

Using the results of the 2005 Public Service Employee Survey (PSES), this paper identifies which factors have the greatest effect on employee satisfaction in the Canadian public service. Several hypotheses are tested against the backdrop of existing literature. In general, public servant satisfaction is affected by belief in opportunities for promotion, fair classification, adherence to client service standards, life balance, recognition by immediate supervisors, team relationships with colleagues, how well information is shared and, finally, belief in the abilities of senior management. Some interesting elaborations of these basic findings emerge when other variables are controlled. The discussion considers how the public service can be seen as a more desirable career choice.

Based on interviews with senior civil federal civil servants in Ottawa, perceptions of various actors' influence on public policy are examined. It is hypothesized that perceived influence patterns will change as one moves across the major phases of the policy process. Although it is expected that actors within the state will be of primary importance throughout the process, it is also expected that the relative importance of actors outside the state will increase as one moves from forming a policy agenda and selecting policy towards policy implementation. This should be particularly true of the perceived influence of private companies. Despite this change in perceived levels of influence of state versus non‐state actors, the structure of correlation patterns for perceived influence patterns will probably not change dramatically from one policy process phase to the next.Results are also presented pertaining to the actual interaction patterns of the civil servants who were interviewed, as well as the relation between interaction and perceived influence. It is expected that there will be positive relations between these two types of variables but that direct interaction will not consistently explain the majority of variation in perceived influence variables.Sommaire: À la suite d'entrevues avec des hauts fonctionnaires fédéraux à Ottawa, on examine ici les perceptions quant à l'influence de divers intervenants sur les politiques gouvernementales. On prend pour hypothèse que ces perceptions évolueront à mesure que l'on avance d'une grande étape à l'autre dans le processus de définition des politiques. On s'attend à ce que les intervenants étatiques jouent un rôle primordial tout au long du processus, mais aussi à ce que le rôle relatif des intervenants extérieurs au gouvernement prenne de l'ampleur lorsqu'on passe de l'établissement d'une liste de politiques au choix des politiques elles‐mêmes et, en̄fin, à la mise en oeuvre de ces politiques. Ceci devrait s'appliquer tout particulièrement à la manière dont on perçoit l'influence des sociétés privées. Malgré ce changement du niveau d'influence perçu entre les intervenants gouvernementaux et les nongouvernementaux, la structure corrélative des influences perçues ne changera probablement pas de façon dramatique d'une étape à l'autre du processus d'élaboration des politiques.On présente également des résultats concernant l'interaction effective des fonctionnaires interviewés, ainsi que le rapport entre cette interaction et l'influence perçue. On prévoit des rapports positifs entre ces deux groupes de variables, mais aussi que l'interaction directe ne saurait expliquer de manière cohérente la plupart des variations dans les variables de l'influence perçue.