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Asset allocation has primarily focused its attention on attaining mean variance efficiency by employing diversification strategies following the portfolio selection methodologies of Markowitz[1952]. These are important principles that have given rise to a large variety of diversified investment choices in mutual funds that now outnumber the available choices for investment in stocks. Paralleling this development has been a growing interest in the second odd moment describing returns, the level of skewness. The empirical stability of return skewness has been noted in Beedles and Simkowitz[1980]. Earlier, the importance of skewness for portfolio selection was studied by Arditi and Levy[1975] and Kraus and Litzenberger[1976]. More recently, motivated by the persistence skews observed in option markets (Bates[1991]), Bakshi Kapadia, and Madan [2000] take up the issue of studying the links between the statistical and risk neutral skews, while Harvey and Siddique[1999] address the asset pricing implications of investor preferences for skewness. Evidence is also presented by Carr, Geman, Madan, and Yor [2000] that the primary model for diversified returns is that of a pure jump return process reflecting both, excess kurtosis and skewness.

The purpose of this paper is to examine financial management in the Pre‐Reformation church in Aberdeen, Scotland during the bishopric of Bishop William Elphinstone (1488‐1514).

The paper employs a combination of literature‐based analysis, archival research and the use of biographies in order to examine aspects of financial management within the Pre‐Reformation church in Aberdeen, Scotland.

There is evidence that accounting for assets and income was mobilised in order to achieve social aims. Recording mechanisms give visibility to the church's remuneration and governance strategy. Together, these examples show that there was no evidence of a sacred/secular divide in this context.

Archives may be incomplete but can give insight into financial management in historical context and aspects of the sacred/secular divide.

This paper aids understanding of visibility and governance possibilities afforded by accounting that has been mobilised in an historic setting in order to achieve social aims.

The purpose of this paper is to outline the qualitative research findings of the effectiveness of Her Majesty’s Prison and Probation Service Programme Needs Assessment (PNA) in supporting decision making regarding selection onto high-intensity offending behaviour programmes.

Qualitative data analysis was used through the application of thematic analysis. Results were pooled using principles from meta-synthesis in order to draw conclusions as to whether the PNA was operating as designed.

Four overarching themes were identified, which have meaning in guiding decision making into, or out of high-intensity programmes. These were risk, need and responsivity, the importance of attitudes, motivation and formulation and planning.

The majority of data were collected from category C prisons. Generalisability of findings to high-intensity programmes delivered in maximum security prisons and prisons for younger people aged 18–21 years is limited. The research team had prior knowledge of the PNA, whether through design or application. Procedures were put in place to minimise researcher biases.

Findings suggest that the PNA is effective in guiding clinical decision making. Practitioners and policy makers can be assured that the processes in place to select into high-intensity programmes are effective, and aligned with the What Works in reducing re-offending.

This is the first evaluation into the effectiveness of the PNA designed to support clinical decision making regarding participant selection onto accredited offending behaviour programmes. Implications for practice have been discussed.

LeaRonal (UK) plc of Buxton, Derbyshire, specialists in plating and allied services to the printed circuit board industry, has appointed John Flynn to their technical staff. Mr Flynn, who will be based in his native Scotland, brings with him a decade of experience in electroless copper, hard gold plating and photoimageable processing in the PCB industry.

While the literature contains a number of studies of ethical investment funds, relatively little is known about church investment processes and practices despite the significant role they have played in the development of the sector. This paper attempts to address this lacuna by studying the ethical investment programmes of two UK churches: the Methodist Church and the Church of England. The paper initially explores the relationship between the Judaeo‐Christian church and the development of the ethical investment movement. This history reveals an engagement both at the institutional and individual level that challenges the assumed sacred secular divide now commonplace within the literature and the more recent guardian‐advocate dichotomy. Second, the paper delineates the way in which the churches theologically conceptualise this engagement and describes how these values are proceduralised through the operation of the funds. The final section provides an immanent critique of church investments both at a performative and theological level. The aim of this concluding section is to engage with the churches in exploring the broader potential for the church in effecting social change.

This study aimed to focus on developing a career competency model by examining the relationships among career competencies and career success from a career development viewpoint.

This study adopted questionnaire survey to collect data from a sample of 277 respondents at 36 international tourist hotels and used the AMOS statistical software package to perform structural equation modeling (SEM) for analysis.

The results showed that career competency model is a multifaceted construct comprising four competency dimensions that influence the career success of food and beverage (F&B) department employees in international tourist hotels. In particular, the competencies related to “career adjustment and control” competency dimension were the most influential competencies for career success.

The career competencies detailed in this study are a potential reference for the planning of core or general education courses in the hospitality domain. Hospitality programs can offer a “hospitality career and employability” course that presents modules such as career recognition, career planning, self-management, job-seeking and mobility techniques, problem solving skills, ethics and safety in the workplace, workplace attitude, teamwork, and communication and networking skills.

This paper aims to fill a void in existing research by focusing on in-company efforts to develop supply chain (SC) talent, with a specific focus on the role that executives can play in this process. This study uses the resource-based view (RBV) of the firm and theory of training motivation as theoretical background for the exploration. In addition to that, this paper provides meaningful information for executives aspiring to contribute to the development of supply chain management (SCM) talent including the primary drivers, benefits, barriers and bridges (Fawcett et al., 2008). Using this framework will lead to the development of a conceptual model to facilitate future research efforts.

This paper studies three case companies where there was an active executive engagement in the recruiting, on-boarding and ongoing development of SC talent.

In all three case companies’ executive engagement was high and the executives acted as champions of the SC talent development program including designing and stewardship of the program. They also got personally involved in recruiting, training and mentoring. In alignment with the RBV of the firm, all three case companies were strongly driven by a need to improve the competitive advantage of their firm through the SC competencies and capabilities. This strategic directive is driven by the executive suite and typically involved a combination of goals including improving functional capability development, internal stakeholder relationships and growth in business value contributions. This leads to the need for attracting new talent, due to talent shortages and developing more future-proof capabilities of the SC talent. Talent that is future-proof can effectively handle the current scope of work and successfully implement changes that the SCM strategy aspires to. Hence, the executive ownership is very much driven by a strategic imperative to improve the knowledge, skills and abilities and critical realization of the importance of talent recruitment and development. This study also finds that there are very specific SCM drivers, benefits, barriers and bridges in play making it important for SCM executives and teams to engage and not rely on generic human resource (HR) processes and frameworks only.

We found that in the three case companies’ executive engagement in talent development had a positive impact. We also identified specific roles of the executives such as, the benefit of engagement across multiple hierarchical layers of the organization and, the risk of programs being shorter lived when focused on a narrower talent issue. Our research focus contributes to the existing supply chain literature involving talent management. It also suggests actions for supply chain executives, for the educational provision of universities and multiple research opportunities.

There is no evidence of prior research in fields of HR management, talent development or SCM related to the impact of executive engagement in this process. This paper studies three case companies where there was an active executive engagement in the recruiting, on-boarding and ongoing development of SC talent. Findings show the critical impact of personal and extended engagement of senior-level executives and their leadership teams, in SC talent development. This paper offers specific techniques and approaches, generates suggestions for further research, managerial action and university implications.