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Article
Publication date: 11 May 2010

Jeffrey S. Pai and Milton S. Boyd

In the USA, private insurance companies serve as an integral part of the delivery and risk sharing of the federal crop insurance program. Governed by the Standard Reinsurance…

504

Abstract

Purpose

In the USA, private insurance companies serve as an integral part of the delivery and risk sharing of the federal crop insurance program. Governed by the Standard Reinsurance Agreement (SRA), private crop insurance companies must designate an eligible crop insurance contract to the assigned risk, developmental, or commercial funds. While the SRA restricts the private sector delivery system in a number of ways, the assignment of contracts to crop insurance funds, however, is left solely to the discretion of individual crop insurance companies. Thus, as to the companies' profitability viewpoint, the optimal selection of the crop insurance funds is the most important task. Therefore, the purpose of this paper is to provide a decision framework for crop insurance companies to make optimal decisions regarding the purchases of crop reinsurance. This information and framework may also be useful for crop insurance firms in China when considering crop reinsurance decisions.

Design/methodology/approach

The paper studied three commonly used parametric loss distributions and presented a general guideline to choose the most profitable fund within the company's risk bearing level.

Findings

The paper finds many important features in the commonly used loss distributions, which are useful to maximize the company's underwriting returns.

Originality/value

The paper provides a general decision framework for optimally ceding risks to reinsurance. While this paper focused on agricultural insurance decisions by firms, the concept could be applied to general reinsurance decisions.

Details

China Agricultural Economic Review, vol. 2 no. 2
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 20 September 2019

Mitchell Roznik, Milton Boyd, Lysa Porth and C. Brock Porth

The purpose of this paper is to examine factors affecting the use of forage index insurance. Forage is a difficult crop to insure, and index insurance may be well suited for…

283

Abstract

Purpose

The purpose of this paper is to examine factors affecting the use of forage index insurance. Forage is a difficult crop to insure, and index insurance may be well suited for forage insurance and has been implemented in several countries, including Canada, the USA and France. Despite being a promising risk management tool, forage index insurance participation rates in Canada, and other countries are low relative to crop insurance participation rates for grain and oilseed producers.

Design/methodology/approach

A survey was conducted with 87 beef and cattle producers from Alberta and Saskatchewan, Canada. A probit regression model was used, and a number of variables were included to examine the use of forage index insurance.

Findings

In total, 6 of 11 variables in the model are found to be statistically significant in explaining forage producers’ use of forage index insurance. Results suggest that producers who maintain lower feed reserves are more likely to purchase forage index insurance. Also, producers with higher levels of knowledge of crop insurance and a more positive attitude toward forage insurance are more likely to use forage index insurance. Furthermore, producers are more likely to use forage index insurance if they perceive drought and weather risk as being of greater importance, and if they are younger. The importance of the variable forage index insurance premium price was statistically insignificant. This could be due to the effect of subsidization, reducing the importance of price for the decision to purchase. Similarly, the use of other subsidized risk management policies, including a whole-farm margin policy (e.g. the government program and AgriStability), did not reduce forage index insurance use. A possible explanation for this is that the subsidization of the policies may make it profitable to purchase both, despite the overlapping coverage.

Practical implications

These results may be useful for policy makers interested in increasing forage index insurance participation rates, as forage index insurance participation rates have historically been low relative to grain and oilseed producers.

Originality/value

This study is believed to be one of the first studies regarding the use of forage index insurance by forage producers. Producers can be exposed to catastrophic risks such as drought or other extreme weather events, and forage index insurance may be an effective means to manage these risks. Index insurance determines payments using an index that is correlated to producers’ actual yields. A downside of this method is basis risk, which is the mismatch between the insured index and the producer’s actual yield. Research has focused on basis risk and developing improved methods to reduce basis risk. However, less research has investigated the other important factors that may contribute to forage index insurance use. Producers may have a different risk management environment regarding forage production compared to other farm activities, and these differences have largely not been examined.

Details

Agricultural Finance Review, vol. 79 no. 5
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 8 January 2020

Anne Fennimore

This paper aims to examine two underexplored topics in organizations, i.e. vulnerable narcissists in organizational settings and possible effects of territorial infringements…

656

Abstract

Purpose

This paper aims to examine two underexplored topics in organizations, i.e. vulnerable narcissists in organizational settings and possible effects of territorial infringements among vulnerable narcissistic employees. The movie, Office Space, illustrates prototypical employee behavior mixed with comedically maladaptive personalities in a modern organizational context. However, the arson committed by character, Milton Waddams, suggests that some employees, especially those with disordered personalities, might violently respond to perceived territorial infringements.

Design/methodology/approach

This conceptual paper combines personality factors with territorial behavior to examine employee reactions to perceived injustices. Theoretical and practical implications are offered, as well as future research directions.

Findings

The argument presented suggests that the vulnerable narcissists may initiate destructive behavior in organizations with ego threats like territorial infringements. While anger is a natural defensive reaction, vulnerable narcissists are more likely to behave aggressively toward perceived territorial infringements due to their general negative affect.

Practical implications

Employees may react to infringement over seemingly subjective things; thus, managers must understand the nature of ownership by addressing territorial claims. Managers must remain cognizant that some disordered personalities are prone toward fulfilling threats, including organizational sabotage, deviance and white-collar crime. Environmental conditions can also compound the negative behavior of personalities like vulnerable narcissists in the workplace.

Originality/value

This conceptual paper adds to the organizational behavior literature and contributes to the fields of psychology and territoriality by exploring vulnerable narcissists in organizational settings and by considering the magnitude of defensive behavior toward perceived infringements.

Details

Management Research Review, vol. 43 no. 4
Type: Research Article
ISSN: 2040-8269

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Article
Publication date: 22 November 2011

Milton Boyd, Jeffrey Pai, Qiao Zhang, H. Holly Wang and Ke Wang

The purpose of this paper is to explain the factors affecting crop insurance purchases by farmers in Inner Mongolia, China.

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Abstract

Purpose

The purpose of this paper is to explain the factors affecting crop insurance purchases by farmers in Inner Mongolia, China.

Design/methodology/approach

A survey of farmers in Inner Mongolia, China, is undertaken. Selected variables are used to explain crop insurance purchases, and a probit regression model is used for the analysis.

Findings

Results show that a number of variables explain crop insurance purchases by farmers in Inner Mongolia. Of the eight variables in the model, seven are statistically significant. The eight variables used to explain crop insurance purchases are: knowledge of crop insurance, previous purchases of crop insurance, trust of the crop insurance company, amount of risk taken on by the farmer, importance of low crop insurance premium, government as the main information source for crop insurance, role of head of village, and number of family members working in the city.

Research limitations/implications

A possible limitation of the study is that data includes only one geographic area, Inner Mongolia, China, and so results may not always fully generalize to all regions of China, for all situations.

Practical implications

Crop insurance has been recently expanded in China, and the information from this study should be useful for insurance companies and government policy makers that are attempting to increase the adoption rate of crop insurance in China.

Social implications

Crop insurance may be a useful approach for stabilizing the agricultural sector, and for increasing agricultural production and food security in China.

Originality/value

This is the first study to quantitatively model the factors affecting crop insurance purchases by farmers in Inner Mongolia, China.

Details

China Agricultural Economic Review, vol. 3 no. 4
Type: Research Article
ISSN: 1756-137X

Keywords

Available. Content available

Abstract

Details

China Agricultural Economic Review, vol. 3 no. 4
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 1 April 2003

Roberto Pascual and Martí Larraza‐Kintana

The control role of the Board of Directors is aimed at monitoring the decisions and actions undertaken by managers in order to protect stockholders’ interests. Considerable…

576

Abstract

The control role of the Board of Directors is aimed at monitoring the decisions and actions undertaken by managers in order to protect stockholders’ interests. Considerable theoretical and empirical research has analyzed whether directors’ behavior is consistent with their fiduciary responsibility, but this research has reported inconsistent findings. This paper offers a comprehensive review of both theoretical and empirical literature on the control role of the board and suggests several guidelines for future research.

Details

Management Research: Journal of the Iberoamerican Academy of Management, vol. 1 no. 1
Type: Research Article
ISSN: 1536-5433

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Article
Publication date: 1 April 1992

Milton H. Snoeyenbos

To justify fully the inclusion of a business ethics course in thebusiness school curriculum, it is necessary that the course achieve fourgoals. Yet two of these goals are not even…

520

Abstract

To justify fully the inclusion of a business ethics course in the business school curriculum, it is necessary that the course achieve four goals. Yet two of these goals are not even addressed in the business ethics texts used today in business ethics courses. The other two goals are addressed in business ethics texts, and research indicates these goals are achievable. The best way to realize these attainable goals is to incorporate the teaching of ethics into regular business courses.

Details

Journal of Management Development, vol. 11 no. 4
Type: Research Article
ISSN: 0262-1711

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Article
Publication date: 13 March 2009

Helen Donelan, Clem Herman, Karen Kear and Gill Kirkup

The purpose of this paper is to investigate how women working in science, engineering and technology use online networking, for career and professional development purposes.

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Abstract

Purpose

The purpose of this paper is to investigate how women working in science, engineering and technology use online networking, for career and professional development purposes.

Design/methodology/approach

A combined qualitative and quantitative approach is taken, using interviews for the first phase of the research and online surveys for the second. The findings are discussed and presented with reference to theories on career development and in the context of recent work on women's networks and online social networking.

Findings

The paper defines a typology of online networks and identifies the motives women have for engaging with the different types. The data imply that women are successfully using online networks to find support, advice and collaboration from women working in similar environments. However, the data only identify a few examples where the use of online networks has led to a specific new job opportunity.

Research limitations/implications

The findings are limited by the samples used, as they were self‐selected. In the first phase of the research, the sample was biased in favour of those using information and communication technologies. In the second phase, women using some form of online network were purposefully targeted in order to understand the motives and benefits associated with these activities.

Originality/value

The paper provides new insights into how professional women are networking online. It extends recent work into women's networks and networking strategies and presents a timely exploration into how these are being affected by the growth of online social networking.

Details

Gender in Management: An International Journal, vol. 24 no. 2
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 22 November 2011

Linging Hou, Dana L.K. Hoag and Yueying Mu

The purpose of this paper is to examine the efficiency of current subsidized crop insurance products (SCIPs) in Miyun county, in northern China, by testing the existence of…

717

Abstract

Purpose

The purpose of this paper is to examine the efficiency of current subsidized crop insurance products (SCIPs) in Miyun county, in northern China, by testing the existence of adverse selection.

Design/methodology/approach

The authors examine the efficiency of SCIPs from a farmers' point of view by testing the existence of adverse selection using nonparametric tests and logit regression on data from individual interviews in Miyun County. Due to adverse selection, producers with more risk should be more likely to buy crop insurance in pursuit of the benefits from SCIPs.

Findings

However, both methods conclude no existence of adverse selection, which indicates that the programs are inefficient. This may not be surprising based on the issues of concern cited above. The opportunities and challenges of a growing interest in weather index insurance are discussed toward the end of the paper.

Originality/value

This paper weaves together literature on traditional and weather index insurance, along with primary data from a survey, to examine the pros and cons of each type of insurance. Implications for policy makers are to compare the tradeoffs between concerns of the two types of insurance examined here, traditional and weather index insurance. Ultimately, the political goals might best determine which option is most desirable.

Details

China Agricultural Economic Review, vol. 3 no. 4
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 5 May 2015

Jia Lin, Milton Boyd, Jeffrey Pai, Lysa Porth, Qiao Zhang and Ke Wang

The purpose of this paper is to explain the factors affecting farmers’ willingness to purchase weather index insurance for crops in China, in the Province of Hainan, and to also…

792

Abstract

Purpose

The purpose of this paper is to explain the factors affecting farmers’ willingness to purchase weather index insurance for crops in China, in the Province of Hainan, and to also provide additional background information on weather index insurance.

Design/methodology/approach

A survey of 134 farmers was undertaken in Hainan, China, regarding their willingness to purchase weather index insurance. A probit regression model was used, and a number of variables were included to explain willingness of farmers to purchase weather index insurance.

Findings

In total, 11 of 15 variables in the model are found to be statistically significant in explaining farmers’ willingness to purchase weather index insurance.

Research limitations/implications

First, farmers’ interest in weather index insurance may be limited due to basis risk. Second, some farmers may not sufficiently understand weather index insurance and so may not purchase it, and a considerable portion of farmers may also require a subsidy if they are to purchase weather insurance.

Practical implications

Weather index insurance may provide a lower cost alternative than traditional crop insurance, however, basis risk remains a main challenge.

Originality/value

This is the first study to quantitatively study the factors affecting the willingness of farmers to purchase weather index insurance for agriculture in the province of Hainan, China.

Details

Agricultural Finance Review, vol. 75 no. 1
Type: Research Article
ISSN: 0002-1466

Keywords

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