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Insurance and asset holdings are modeled as the jointly determined outcomes of a constrained optimization problem. Consequently, (1) full coverage may be optimal despite limited premium loading, (2) insurance is normal if insurable assets are normal, (3) insurance cannot be a Giffen good, and (4) insurance is a complement to price‐elastic assets.

The South Texas University this study examined is a Hispanic Serving Institution (HSI) that has a 73.3% Hispanic (primarily Mexican American) population (Tallant, 2018 ). The logical consequence of education is the provision or guarantee of an equitable opportunity for all students to have equal access to learning and the achievement of academic success (Stewner-Manzanares, 1988 ). The basic definition of bilingual education in the United States is the use of two languages for instruction of the home language and English. Unfortunately, this basic principle is not accepted by postsecondary institutions as predispositions of university preparedness (Blanchard & Muller, 2014; García, Kleifgen, & Falchi, 2008; Kanno & Cromley, 2013; Lee et al., 2011; Menken, Hudson, & Leung, 2014). Mexican American students are potentially being left out of the opportunities afforded by the attainment of a postsecondary education because they are a language minority (Lucas, Henze, & Donato, 1990; Moll, 1990; Trueba, 2002; Trueba & Wright, 1981; Washington & Craig, 1998). Students are already examined for postsecondary credentials or college readiness, in the eighth grade (Paredes, 2013). Through this testing, 11 out of every 100 Hispanic children in the state of Texas are deemed as having attained postsecondary credentials (Paredes, 2013). As part of the fastest growing demographic group in Texas and the United States, the Mexican American population holds the lowest rate of graduation from postsecondary institutions and the highest high school dropout rate of any ethnic minority in the nation. In a 12-year study, Kanno and Cromley (2013) found that one out of eight English as a second language (ESL) or English language learners (ELLs) attain a bachelor’s degree from postsecondary institutions across the United States while the success rate for their English, monolingual counterparts is one out of three. Various researchers (García et al., 2008; García, Pujol-Ferran, & Reddy, 2012) argue that the inequity of education in the United States can be measured by how few minority students educated under the principles of education attend a postsecondary institution because it is the diploma from such institutions that leads to higher paying wages for the individual (García, 1991; García et al., 2008, García et al., 2012).

This paper aims to propose a new method for credit risk allocation among economic agents.

The paper considers a pool of bank loans subject to a credit risk and develops a method for decomposing the credit risk into idiosyncratic and systematic components. The systematic component accounts for the aggregate statistical difference between credit defaults in a given period and the long‐run average of these defaults.

The paper shows how financial contracts might be redesigned to allow for banks to manage the idiosyncratic component for their own accounts, while allowing the systematic component to be handled separately. The systematic component can be retained, passed off to the capital markets, or shared with the borrower. In the latter case, the paper introduces a type of floating interest rate, in which the rate is set in arrears, based on a composite index for the systematic risk. This increases the efficiency of risk sharing between borrowers, lenders and the capital market.

The paper has several practical implications that are of value for financial engineers, loan market participants, financial regulators, and all economic agents concerned with credit risk. It could lead to a new class of structured notes being traded in the market.

The paper also illustrates the potential benefits of risk decomposition. Of course, as with any innovation, the implementation of the structured contracts would raise practical issues not addressed here. The paper also makes several simplifications: market risk is ignored; the level of default is constant and identical among borrowers. These simplifications could be lifted in future research on this theme.

An internal customer′s (i.e. employee′s) satisfaction with a service firm can be significantly influenced by service encounters experienced with internal service providers. For example, a loan officer′s satisfaction with the bank he/she works for may well be influenced by internal services provided by the data processing group. Introduces the concept of the “internal service encounter” and presents the results of an initial study of internal service encounter satisfaction. The empirical study builds on previous research in using the critical incident methodology to examine internal services in a large US bank. Indicates that internal customers are similar to external customers in that, with a few interesting differences, the same types of events and behaviours distinguish satisfactory and dissatisfactory incidents in both internal and external encounters. Implications for managers and suggestions for future research are also presented.

A variety of gases, including water vapor (H2O), carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O), add to the radiative forcing of Earth's atmosphere, meaning that they absorb certain wavelengths of infrared radiation (heat) that is leaving the Earth and thus raise the temperature of its atmosphere. Since glass has the same effect on the loss of heat from a greenhouse, these gases are known as “greenhouse” gases. It is fortunate that these gases are found in the atmosphere; without its natural greenhouse effect, Earth's temperature would be below the freezing point, and all waters on its surface would be ice. However, for the past 100 years or so, the concentrations of CO2, CH4, and N2O in the atmosphere have been rising as a result of human activities. An increase in the radiative forcing of Earth's atmosphere is destined to cause global warming, superimposed on the natural climate cycles that have characterized Earth's history.

The purpose of this paper is to foster a better understanding of how decision-making processes work in sport clubs and to develop appropriate advisory concepts or management tools in order to successfully realize structural changes in sport clubs. This paper examines the decision-making processes associated with an external advisory programme. Based on the assumption of bounded rationality, the garbage can model is used to grasp these decision-making processes theoretically and to access them empirically.

Based on a case study framework, an in-depth analysis of the decision-making and implementation processes involved in an advisory programme was performed in ten selected football clubs. Guided interviews were conducted on the basis of the four streams of the garbage can model. The interviews were analysed with qualitative content analysis.

Results show that three types of club can be distinguished in terms of their implementation processes: low implementation of the external input; partial implementation of the external input; and rigorous implementation of the external input. In addition, the analysis shows that the participants in the advisory programme are the key actors in both the decision-making process and the implementation.

The paper provides insights into the practicability of advisory programmes for sport clubs and the transfer to the clubs’ practical decision-making routines. Additionally, it shows how sport clubs deal with (external) advisory impulses, and which different decision-making practices underlie these processes.

This critical review considers the limitations and advantages of the clinical, actuarial and structured clinical judgement approaches as they are applied to the assessment of risk in general and sex‐offenders in particular. It concludes by endorsing an inclusive approach, acknowledging that a central ethic of clinical practice is that it should be based on a current knowledge of the research literature (Singer, cited in Douglas et al. 1999).

The historian, Arthur M. Schlesinger (1999), once wrote that “a basic theme of American history has been the movement, uneven but steady, from exclusion to inclusion” – a movement “fueled by ideals” (p. 173). He might well have been talking about the United States’ public education system where it has become evident that segments of its pupil population have been overlooked or neglected. The good news is that there have been some efforts to ameliorate this problem. However, despite these efforts, there continues to be lingering problems for culturally and linguistically diverse students with gifts and talents. In this chapter, we address how to maximize the success potential of these students.

This issue is a selected bibliography covering the subject of leadership.

Far from being united under the banner of sisterhood, American women opposed each other on the issue of gender equality in the 1970s–1980s. As the Equal Rights Amendment (ERA) passed the US Congress in 1972, antifeminists mobilized under the lead of Phyllis Schlafly to prevent its ratification. Identified as major threat to traditional families, the ERA would have mandated that “equality under the law shall not be denied or abridged by the United States or by any state on account of sex” (section 1). If this sociocultural and political struggle around women's rights revealed the different loyalties and interests of women at the time, it also testified to the institutional fragmentation of power in the country. Conservative women were not only fighting against feminism to preserve the privileged position they thought they occupied in the patriarchy; they were also animated by a strong anti-federal government sentiment. A combined examination of these antifeminist and anti-governmental stances reveals some the reasons why the ERA was eventually never added to the Constitution and could also explain why the United States is such a disunited country, especially regarding women's rights.