Abstract The purpose of the study was to examine the relationship between nursing leadership and burnout among nurses in health care as well as the incidence of multidimensional leadership and burnout in Finnish nursing. A further purpose was to test a factor structure of Multifactor Leadership Questionnaire (MLQ) and Maslach Burnout Inventory (MBI) in Finnish health care. The empirical data were gathered by postal questionnaires from nursing staff working in university, central and district hospitals, health centers as well as psychiatric and private hospitals (n = 900, response rate 73%). In addition, a follow-up study was performed at a one-year interval (n = 100, response rate 79%). After deleting unusable questionnaires, the sample consisted of 627, and the follow-up study of 78 nurses and nurse leaders. The data were analyzed with descriptive and multivariate statistical methods. Nurse leaders proved to be transformational leaders who rewarded their subordinates, but traditional active and passive management-by-exception and laissez-faire leadership also appeared in their leadership behavior. Half of the nursing staff were moderately burned out and about one tenth were highly burned out. Nearly one fifth suffered from high emotional exhaustion. Nursing leadership has both positive and negative effects on burnout among nursing staff. Rewarding transformational leadership and active management-by-exception functioned as protecting factors, and passive laissez-faire leadership as an exposing factor. However, the results suggest that the relation between leadership and burnout is complex, affected by situational factors of leadership and the ambiguous nature of burnout. The six- and three-factor structure of the MLQ as well as the three-factor structure of the MBI were empirically supported. According to psychometric properties both instruments are well applicable to Finnish health care research. The results can be used in academic leadership education and leadership training in health care organizations, as well as to improve the quality of work life and to promote work well-being. The results can also be utilized in studies applying MLQ and MBI as well as when exploring factor structure of measures and in validation studies of instruments. / Tiivistelmä Tutkimuksen tarkoituksena oli selvittää hoitotyön johtajuuden ja hoitohenkilöstön työuupumuksen yhteyttä terveydenhuollossa sekä moniulotteisen johtajuuden ja työuupumuksen esiintymistä suomalaisessa hoitotyössä. Lisäksi tarkoituksena oli testata suomalaisessa terveydenhuollossa moniulotteisen johtajuusmittarin ja kolmiulotteisen työuupumusmittarin rakennetta. Empiirinen tutkimusaineisto kerättiin postikyselyllä yliopisto-, keskus- ja aluesairaaloiden, terveyskeskusten sekä psykiatristen ja yksityisten sairaaloiden hoitohenkilöstöltä (n = 900, vastausprosentti 73). Lisäksi toteutettiin seurantakysely vuoden intervallilla (n = 100, vastausprosentti 79). Aineistosta jouduttiin poistamaan vastauksia, ja poistojen jälkeen tutkimusjoukko muodostui 627:stä ja seurantakyselyssä 78 hoitajasta ja hoitotyön esimiehestä. Aineiston analyysissä käytettiin tilastollisina kuvailevina menetelminä ristiintaulukointia, kontingenssikerrointa, χ²-testiä, Pearsonin tulomomenttikorrelaatiokerrointa, t-testiä, Mann-Whitney U-testiä, Wilcoxonin testiä, yksi- ja kaksisuuntaista varianssianalyysiä sekä Kruskal-Wallisin testiä. Monimuuttujamenetelminä olivat rakenneyhtälömallitus ja lineaarinen regressioanalyysi. Mittareiden luotettavuuden arvioinnissa käytettiin eksploratiivista ja konfirmatorista faktorianalyysiä, Cronbachin alpha -kerrointa, osiosummakorrelaatioita, osioiden välisiä korrelaatioita, Pearsonin tulomomenttikorrelaatiokerrointa ja intraclass-korrelaatiokerrointa. Hoitotyön johtajat osoittautuivat työntekijöitä palkitseviksi muutosjohtajiksi, mutta johtamiskäyttäytymisessä esiintyi myös perinteistä työntekijöiden aktiivista ja passiivista valvomista sekä välttävää johtajuutta. Eroja ilmeni johtajan iän, työkokemuksen, työtehtävän ja perustyöhön osallistumisen mukaan. Puolella hoitohenkilöstöstä esiintyi keskimääräistä ja noin kymmenesosalla voimakasta työuupumusta. Voimakkaasta emotionaalisesta väsymyksestä kärsi lähes joka viides. Hoitotyön johtajuudella on sekä myönteisiä että kielteisiä vaikutuksia hoitohenkilöstön työuupumuksen kannalta. Palkitseva muutosjohtajuus ja työntekijöiden aktiivinen valvominen toimivat työuupumukselta suojaavina tekijöinä ja passiivinen välttäminen työuupumukselle altistavana tekijänä. Tulokset viittaavat kuitenkin siihen, että johtajuuden ja työuupumuksen yhteys on kompleksinen, ja tähän vaikuttavat johtajuuden tilannetekijät ja työuupumuksen moniselitteinen luonne. Hoitohenkilöstön ikä, työllisyystilanne, työaikamuoto ja työtehtävän luonne vaikuttivat johtajuuden ja työuupumuksen yhteyteen, joka oli suhteellisen pysyvä vuoden intervallilla mitattuna. Myös johtajuus ja työuupumus osoittautuivat stabiileiksi ilmiöiksi. Johtajuusmittarin kuuden ja kolmen faktorin rakenne sekä työuupumusmittarin kolmen faktorin rakenne saivat empiiristä tukea. Mittareita voidaan pitää psykometristen ominaisuuksiensa perusteella suomalaiseen terveydenhuoltotutkimukseen soveltuvina. Tutkimustuloksia voidaan hyödyntää terveydenhuoltoalan yliopistollisessa ja terveydenhuollon organisaatioiden sisäisessä johtamiskoulutuksessa, työelämän laadun parantamisessa ja työhyvinvoinnin edistämisessä, johtajuus- ja työuupumusmittaria soveltavissa tutkimuksissa sekä laajemmin mittareiden kehittämistyössä ja validointitutkimuksissa.

Introduction – Animal studies suggested that NFKB1, SOCS3 and IKBKB genes could be involved in the association between overnutrition and obesity. This study aims to investigate interactions involving these genes and nutrition affecting obesity-related phenotypes. Methods – We used multifactor dimensionality reduction (MDR) and penalized logistic regression (PLR) to better detect gene/environment interactions in data from the Toronto Nutrigenomics and Health Study (n=1639) using dichotomized body mass index (BMI) and waist circumference (WC) as obesity-related phenotypes. Exposure variables included genotypes on 54 single nucleotide polymorphisms, dietary factors and ethnicity. Results – MDR identified interactions between SOCS3 rs6501199 and rs4969172, and IKBKB rs3747811 affecting BMI in whites; SOCS3 rs6501199 and NFKB1 rs1609798 affecting WC in whites; and SOCS3 rs4436839 and IKBKB rs3747811 affecting WC in South Asians. PLR found a main effect of SOCS3 rs12944581 on BMI among South Asians. Conclusion – MDR and PLR gave different results, but support some results from previous studies.

A need for a South African leadership-unit performance structural model, created from the performance index and second-order factor structure of the Leadership Behaviour Inventory was established. This study focuses on the creation of such a second-order factor structure. Theron and Spangenberg (2005) identified three plausible models and highlighted two for further analysis. Theoretical scrutiny supported the two proposed models. The two-factor model was created from the multifactor leadership questionnaire's transformational and transactional second-order factors (Avolio, Bass & Jung, 1999) and the three-factor model comprised the general leadership, management behaviour and supervisory leadership second-order factors of House (1995). Factor analysis, exploratory factor analysis and confirmatory factor analysis were conducted on the proposed models. Results indicated average-fitting models. The five-factor model proposed by Theron and Spangenberg (2005) comparatively has an improved fit and is viewed as the most plausible model for the creation of the leadership-unit performance structural model. / Psychology / M.A. (Psychology)

This thesis investigates pricing-performance of two recently developed multifactor asset-pricing models with the implementation of dual-betas dependent upon prevailing market-conditions. The models included in the study are the Fama and French five-factor model and the Q-factor model by Hou, Xue and Zhang. We test the models on cross-sectional Swedish stock-market data between 2003 and 2015 from the Large-, Mid- and Small Cap-lists and their respective precursors. The models are tested in their ability to explain portfolios sorted on firm beta-values, on a twelve-year period as well as a six-year period characterized by changing market directions and high market volatility.  In our study, we support the presence of changing risk-return relationship in up and down market states by estimating separate market betas with the risk-free rate as threshold. However, we do not find the isolated and volatile period to give rise to a larger difference in the up and down market betas. We consistently find the models to have a decreasing explanatory power on the portfolios of firms with lower beta values. We also find the largest difference in the up and down market betas occurring in the low beta portfolios, suggesting that this is causing measurement problems in the models. While making the models conditional, the measurement problem with the static beta seems to be reduced for the portfolios where the difference between up and down betas differ most. In the applied context, we conclude the conditional dual beta adds explanatory power in the models when the market beta differs in up and down market states.  The insights of this thesis support the method of making the market-beta conditional as suggested by Pettengill, Sundaram & Mathur (Pettengill, et al., 1995), in new multifactor models.

This study investigates the return generating process underlying the South African stock market. The investigation of the return generating process is framed within the Arbitrage Pricing Theory (APT) framework with the APT reinterpreted so as to provide a conceptual framework within which the return generating process can be investigated. In modelling the return generating process, the properties of South African stock returns are taken into consideration and an appropriate econometric framework in the form of Autoregressive Conditional Heteroscedastic (ARCH) and Generalized Autoregressive Conditional Heteroscedastic (GARCH) models is applied. Results indicate that the return generating process of South African stock returns is described by innovations in multiple risk factors representative of several risk categories. The multifactor model of the return generating process explains a substantial amount of variation in South African stock returns and the ARCH/GARCH methodology is an appropriate econometric framework for the estimation of models of the return generating process. The APT framework is successfully applied to model and investigate the return generating process of South African stock returns.

Research has shown that transformational leadership behavior impacts team performance in a traditional work environment; however, no research has evaluated the relationship between transformational leadership and team performance in a virtual setting. Building on the theoretical foundation of Bass' 1990 work, this study examined the relationship between transformational leadership behavior and 3 measures linked to team success: work effort, perceived leader effectiveness, and job satisfaction for virtual teams. The present research focused on the transformational leadership behaviors of 41 senior executives in an information technology (IT) organization and over 300 direct report employees. Employees used the Multifactor Leadership Questionnaire 5x to rate their direct report supervisors' leadership characteristics. Regression analyses were used to evaluate the relationship between transformational leadership and the preceding indicators for successful performance. The findings supported the applicability of Bass' leadership model beyond the traditional workforce. The results of this study will positively impact social change by clarifying how executive leadership behavior directs virtual IT team success, enabling IT organizations to better identify future leaders, and allowing organizations to institute training opportunities to develop internal candidates to become better leaders.

Έχοντας κατά νου τα εξής δεδομένα: • Ότι η αλλαγή στην κοινωνία τα τελευταία χρόνια γίνεται με εκθετικούς ρυθμούς • Ότι το ανθρώπινο κεφάλαιο έχει μετατραπεί από υποστηρικτικό παράγοντα στο πιο σημαντικό στοιχείο του ενεργητικού των φορέων των • Ότι στους οργανισμούς προβάλλει κυρίαρχη η αναγκαιότητα ύπαρξης μιας σύγχρονης ηγεσίας με όραμα, προκειμένου να διαχειριστεί τις τεράστιες παγκόσμιες αλλαγές, οι οποίες μας επηρεάζουν καθημερινά • Ισχυρή προσωπική “πνευματική περιέργεια” (intellectual curiosity), ως προς την αναζήτηση και ανεύρεση των ηγετικών συμπεριφορών και χαρακτηριστικών τα οποία προσδιορίζουν τα ηγετικά στυλ στο χώρο της Ελληνικής Αστυνομίας, το ενδεχόμενο όραμα που προκύπτει ή ενυπάρχει σε αυτά, καθώς την εξ’ αυτών έκβαση της ηγεσίας, εκπόνησα την παρούσα διδακτορική διατριβή. Για τη διενέργεια της έρευνας επελέγη και έγινε χρήση του ερωτηματολογίου M.L.Q. - Πολυπαραγοντικό Ερωτηματολόγιο Ηγεσίας (Multifactor Leadership Questionnaire, Form – 5x), των Avolio και Bass, 2004. Το ερωτηματολόγιο είναι παγκοσμίως αναγνωρίσιμο και επιστημονικά έγκυρο. Το M.L.Q – 5X μετρά την έκταση των ηγετικών στυλ (Full Range Leadership), ήτοι: Μετασχηματιστική (Transformational), Διεκπεραιωτική (Transactional) και προς Αποφυγή Ηγεσία (Avoidant Leadership). Το M.L.Q., επίσης εξετάσει την έκβαση (Out comes) της ηγεσίας: Μεγαλύτερη Προσπάθεια (Extra Effort), Αποτελεσματικότητα (Effectiveness) και Ευχαρίστηση από την Ηγεσία (Satisfaction with Leadership). Η έρευνα στο Αστυνομικό Προσωπικό – Ανθυπαστυνόμοι, Αρχιφύλακες και Αστυφύλακες, οι οποίοι ανέρχονται σε 40.500 (περίπου) από τους 45.000 (περίπου) Αστυνομικούς (αρ.19, Ν.2800/2000), όλων των βαθμών – μέσω των τριακοσίων εβδομήντα έξι επιστραφέντων ερωτηματολογίων από διάφορες περιοχές της Ελλάδας, έδειξε ότι: • Η ηγεσία με το μεγαλύτερο σκορ είναι η L.F., η οποία ουσιαστικά αντιπροσωπεύει την έλλειψη ηγεσίας και ως εκ τούτου οράματος. Τα άλλα συστατικά (components) της ηγεσίας συμμετέχουν με μικρότερο ποσοστό. Τα στοιχεία αυτά κατά σειρά συμμετοχής, από το μεγαλύτερο στο μικρότερο είναι: LF, MBEA, II (B), CR, MBEP, IM, II (A), IS και ΙC • Οι παράγοντες (μορφές ηγεσίας) που αυξάνουν την επιπρόσθετη προσπάθεια είναι οι: IC, II (A), CR, LF και IS • Οι παράγοντες που αυξάνουν την αποτελεσματικότητα είναι οι: IC, II (A), CR, IS, LF και ΙΙ (Β) • Οι παράγοντες που αυξάνουν την ικανοποίηση είναι οι: CR, II (A), IC, MBEP, LF και ΙΙ (Β). Τα αποτελέσματα της έρευνας αποτελούν ένα πολύ χρήσιμο υλικό, ιδία στα χέρια των διοικούντων την Αστυνομία, για ασφαλή συμπεράσματα και περαιτέρω αξιοποίηση και προβληματισμό. / Having in mind the following facts: • That change in society is taking place with exponential numbers in recent years • That human capital has been turned from supporting factor into the most important element of its carrier’s assets • That in organizations the necessity of the existence of a contemporary leadership with vision appears to be prevalent in order to handle tremendous worldwide changes which affect us daily • Strong personal intellectual curiosity towards seeking and finding leadership behaviours and characteristics which determine leadership styles in the domain of Hellenic Police, the possible vision arising from or contained in them ,as well as the outcome of leadership as a result of them , I have elaborated this doctoral dissertation. In order to carry out this research there has been used the M.L.Q. questionnaire – Multifactor Leadership Questionnaire (Form – 5x), by Avolio & Bass, 2004. This questionnaire is widely recognizable and scientifically reliable. M.L.Q. – 5x estimates the range of leadership styles ( Full Range Leadership), that is: Transformational, Transactional, Avoidant Leadership. M.L.Q. also looks into the outcomes of leadership: Extra Effort, Effectiveness, Satisfaction with Leadership. Research in Police Personnel – Police warrant officers, Sergeants and Police officers, numbering 40,500 (approximately) out of 45,000 policemen (approximately) – ar.19, L.2800 /2000 – of all ranks, by means of three hundred and seventy six returned questionnaires from different parts of Greece, showed that: • The leadership with the highest scores is L.F, which virtually represents the lack of leadership and therefore the lack of vision. The other components of leadership participate at lower rates. These components in order of participation, from the highest to the lowest, are: LF, MBEA, II(B), CR, MBEP, IM, II(A), IS & IC • The factors (leadership forms) which increase the extra efforts are: IC, II (A), CR, LF, and IS • The factors which increase effectiveness are :IC, II (A), CR, IS, LF & II (B) • The factors which increase satisfaction are: CR, II(A), IC, MBEP, LF and II (B). The results of the research are a very useful material, especially in the hands of those administering the Police Force, in order to have reliable conclusions and further development and speculation.

A need for a South African leadership-unit performance structural model, created from the performance index and second-order factor structure of the Leadership Behaviour Inventory was established. This study focuses on the creation of such a second-order factor structure. Theron and Spangenberg (2005) identified three plausible models and highlighted two for further analysis. Theoretical scrutiny supported the two proposed models. The two-factor model was created from the multifactor leadership questionnaire's transformational and transactional second-order factors (Avolio, Bass & Jung, 1999) and the three-factor model comprised the general leadership, management behaviour and supervisory leadership second-order factors of House (1995). Factor analysis, exploratory factor analysis and confirmatory factor analysis were conducted on the proposed models. Results indicated average-fitting models. The five-factor model proposed by Theron and Spangenberg (2005) comparatively has an improved fit and is viewed as the most plausible model for the creation of the leadership-unit performance structural model. / Psychology / M.A. (Psychology)

Syfte: Syftet är att testa Fama och Frenchs femfaktormodell på den svenska aktiemarknaden. Detta genom att undersöka huruvida modellen kan statistiskt förklara portföljers genomsnittliga avkastning samt ifall specifika faktorer har statistisk signifikans. Metod: En kvantitativ studie med ett deduktivt förhållningssätt. Undersökningen utför tester på den svenska aktiemarknaden mellan 2015-01-01 och 2019-12-31 genom en regressionsanalys. Upptäckter: Fama och Frenchs femfaktormodell förkastas som helhet men det påvisas däremot att HML är statistisk signifikant inom sex av sex storlekssorterade portföljer, följt av SMB med fyra av sex. Fama och Frenchs femfaktormodellen har svårigheter att förklara avkastningen för mindre företag sorterade utifrån lönsamhet och book-to-market tal. Forskningsimplikationer: Undersöker ett forskningsämne som eftersträvar studier och tester på ett flertal varierande marknader för att förklara aktiers avkastningsmönster. Orginalitet och värde: Studien särskiljer sig på grund av avsaknaden av forskning på den svenska aktiemarknaden. Därtill bidrar studien till ett undersökningsområde för små öppna ekonomier som den svenska marknaden grundas i. / Purpose: The purpose is to test Fama and French's five-factor model in the Swedish stock market. This is done by examining whether the model can explain portfolios' average return and whether specific factors have statistical significance. Method: A quantitative study with a deductive approach. The survey performs tests on the Swedish stock market between 2015-01-01 and 2019-12-31 through a regression analysis. Findings: Fama and French's five-factor model is rejected as a whole, but it is shown that HML is statistically significant in every size-sorted portfolio, followed by SMB with statistical significance in four out of six portfolios. Fama and French's five-factor model have difficulty explaining the returns for smaller companies sorted on profitability and book-to-market ratio. Research implications: Investigates a research topic that strives for an increased number of studies and tests in different markets to explain stock return patterns. Originality and value: The study differs due to the lack of research on the Swedish stock market. In addition, the study contributes to a study area for small open economies in which the Swedish market is based.

Momentum has been a persistent and robust factor in explaining excess future returns, generating great interest from investors and financial analysts. Following the financial crisis of 2008 and the Covid-19 pandemic, there have been instances of significant momentum crashes. US Equity funds are used to gain insights about the properties of momentum and its predictive ability. Momentum performance is evaluated over the period 2000 to 2023. A multifactor model is developed, using factor attribution to explain the impact on fund performance over time by factors such as risk, size, value-growth orientation and momentum. Conclusions can be made that while momentum have previously been successful in predicting future returns, particularly for growth-oriented funds, recent market situations have lead to underperformance. The multifactor model, incorporating size and value-growth orientation, suggests that momentum is not entirely responsible for the poor performance following the Covid-19 crisis. / Momentum har historiskt sett varit en framgångsrik faktor för att predicera framtida avkastning, vilket har skapat stort intresse från investerare och finansiella analytiker. Efter finanskrisen 2008 och Covid-19 pandemin har det skett signifikanta momentumkrascher. Amerikanska aktiefonder används för att undersöka egenskaperna hos momentum och dess prediktiva förmåga. Prestationen av momentum utvärderas under tidsperioden 2000 till 2023. En multifaktormodell utvecklas, som använder faktor-attribution för att förklara hur fonders avkastning påverkas över tid av faktorer såsom risk, marknadsvärde, värde/tillväxt-orientering och momentum. En slutsats dras att även fast momentum har presterat väl historiskt för att predicera framtida avkastning, särskilt för tillväxt-orienterade aktiefonder, så har den senaste tidens marknadsrörelser lett till underprestation. Multifaktormodellen, som innehåller marknadsvärde och värde/tillväxt-orientering, indikerar att momentum inte är en lika stor anledning till underavkastningen efter Covid-19 krisen.