Business Commons^™

Product And International Diversification Among Japanese Multinational Firms, Michael J. Geringer, Stephen Tallman, David M. Olsen

Management Faculty Publications

A study is presented that examines the relationship of performance with product and international diversification on Japanese multinational firms from 1977 to 1993. The relationships between diversification and performance are shown to change over time through the use of multiple time periods and accounting for keiretsu membership. Results show that while diversity strategies vary between keiretsu and non-keiretsu firms, performance is not much different. Across time periods, performance varies considerably, but strategies are less variable. Product diversity has weak effects on firm performance only in one time period, while international diversification has negative profitability and positive growth consequences in some …

Journal Of Actuarial Practice, Volume 8, Nos. 1 And 2 (2000), Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

Complete volume, includes ARTICLES:

Realistic Pension Funding: A Stochastic Approach • Shih-Chieh Chang 5

Risk Sources in a Life Annuity Portfolio: Decomposition and Measurement Tools • Mariarosaria Coppola, Emilia Di Lorenzo, and Mari/ena Sibillo . .43

A Comparative Study of the Performance of Loss Reserving Methods through Simulation • Prakash Narayan and Thomas Warthen 63

Concentration in the Property and Liability Insurance Market by Line of Insurance • Edward Nissan and Regina Caveny 89

Safe-Side Requirements in Life Insurance: A Corporate Perspective • Annamaria Olivieri and Ermanno Pitacco 115

Actuarial Analysis of Retirement Income Replacement Ratios • Robert Keng Heong …

Modeling Corporate Bond Default Risk: A Multiple Time Series Approach, Wai-Sum Chan

Journal of Actuarial Practice (1993–2006)

A multiple time series approach is used to forecast the short-term u.s. corporate bond default level. These time series have two auxiliary economic variables: U.S. price inflation and U.S. GNP growth rate. Actual U.S. data from the turn of the century to the present are used to estimate the parameters of multivariate time series model. Diagnostic checks are performed to examine adequacy of the model. The model's forecast for the aggregate U.S. bond default level in 2000-2001 are 0.42% and 0.56%, respectively, while the forecast for the speculative-grade default rate in 2000 is 3.6%, which is more pessimistic than some …

Actuarial Analysis Of Retirement Income Replacement Ratios, Robert Keng Heong Lian, Emiliano A. Valdez, Chan Kee Low

Journal of Actuarial Practice (1993–2006)

A measure of level of post-retirement standard of living is the replacement ratio, i.e., percentage of final salary received as annual retirement income derived from savings. The replacement ratio depends on many factors including salary, salary increases, investment returns, and post-retirement mortality. Elementary life contingencies techniques are used to develop a replacement ratio formula and analyze its sensitivity to these factors.

Life Contingencies With Stochastic Discounting Using Moving Average Models, Steven Haberman, Russell Gerrard, Dimitrios Velmachos

Journal of Actuarial Practice (1993–2006)

This paper offers simplified procedures for calculating moments of functions in life contingencies when the random force of interest is modeled using an unconditional moving average process of order q, MA(q). It extends the MA(l) model that has been used for stochastic discounting. Using the more general MA(q) model allows actuaries to better capture the auto correlation between successive interest rates in a time series.

Independent Claim Report Lags And Bias In Forecasts Using Age-To-Age Factor Methodology, Stewart Gleason

Journal of Actuarial Practice (1993–2006)

This paper finds that when report lags are assumed to be independent, the age-to-age factor method produces biased estimates when applied to claim count development data. Two distributions are considered as models for the ultimate number of claims for an accident period: (0 a Poisson distribution, and (ii) a negative binomial distribution. In the Poisson case, the assumption of independent report lags implies the independence of the total number of claims reported in any two periods. In the negative binomial case, however, assuming that report lags are independent does not imply that increments are independent, and a somewhat different argument …

Concentration In The Property And Liability Insurance Market By Line Of Insurance, Edward Nissan, Regina Caveny

Journal of Actuarial Practice (1993–2006)

This paper uses an National Association of Insurance Commissioners (NAIC) 1995 data set to examine the concentration of property and liability insurance by line of insurance in the U.S. The primary measure of concentration used is the Herfindahl index. The largest 100 affiliates are divided into three largest sets of 20, 30, and 50. We find that the homeowners line is the most concentrated line and commercial auto physical damage is the least concentrated line, with the top 20 affiliates commanding the largest between-set and within-set contributions.

Risk Sources In A Life Annuity Portfolio: Decomposition And Measurement Tools, Mariarosaria Coppola, Emilia Di Lorenzo, Marilena Sibillo

Journal of Actuarial Practice (1993–2006)

The paper considers a model for a homogeneous portfolio of whole life annuities immediate. The aim is to study two risk factors: the investment risk and the insurance risk. A stochastic model of the rate of return is used to study these risk factors. Measures of the insurance risk and the investment risk for the entire portfolio are suggested. The problem of the longevity risk is presented, and its consequences with different projections of the mortality tables are analyzed. The model is applied to some concrete cases, and several illustrations show the importance of the two components of the riskiness …

A Comparative Study Of The Performance Of Loss Reserving Methods Through Simulation, Prakash Narayan, Thomas Warthen

Journal of Actuarial Practice (1993–2006)

Actuaries are often asked to provide a range or confidence level for the loss reserve along with a point estimate. Traditional methods of loss reserving do not provide an estimate of the variance of the estimated reserve, and actuaries use various ad hoc methods to derive a range for the indicated reserve. We use a Monte Carlo simulation method to compare various loss reserve estimation methods, including traditional methods and regression-based methods of loss reserving.

Safe-Side Requirements In Life Insurance: A Corporate Perspective, Annamaria Olivieri, Ermanno Pitacco

Journal of Actuarial Practice (1993–2006)

Safe-side requirements concern the assumptions used to calculate premiums in relation to a set of more realistic assumptions. Roughly, safe-side requirements express the capability of premiums to generate positive margins. In a strictly actuarial framework, safe-side requirements are given in terms of some notion of expected profit, calling for assumptions that let such profit be non-negative. An expected profit of zero, however, is not a realistic aim for the insurer. We investigate the notion of conservative assumptions by adopting a unconventional approach. Our focus is the management of the financial resources coming both from premiums and from shareholders' capital. This …

Realistic Pension Funding: A Stochastic Approach, Shih-Chieh Chang

Journal of Actuarial Practice (1993–2006)

The process funding pension plans is viewed as a dynamic control process. Two performance measures are introduced to evaluate the effectiveness of plan contributions: the cost-induced performance measure (CIPM) and the ratio-induced performance measure (RIPM). A dynamic programming approach is used to determining the optimal contributions with the objective of minimizing the performance measure. The methodology developed is applied to a sample of members of Taiwan's Public Employees Pension Plan (Tai-PERS). We show that RIPM produces more stable results than those using CIPM.

Foreign Market Entry Strategies Of Japanese Mncs, Charles R. Taylor, Shaoming Zou, Gregory E. Osland

Scholarship and Professional Work - Business

While much prior research has focused on Japanese multi‐national corporations’ (MNCs) marketing strategies, little is known about the factors that influence Japanese MNCs’ foreign market entry mode choice. In this study, a survey of Japanese MNCs is conducted in order to assess the factors that are the most influential in the foreign market entry decisions of Japanese MNCs. Using bargaining power theory, eight factors are identified in the study. The findings indicate that five of the eight factors (stake of the host country, need for local contribution, riskiness of the host country, resource commitment, and host government restrictions) are significant …

Privatization In Lithuania: General Environment And Case Studies, Ginte Sabaliauskaite '00

Honors Projects

The crumble of the Soviet Union left Lithuania, like many of its former republics, at a standstill. With the demise of USSR came the demise of markets in the east and it became important for Lithuania to establish economic ties with the west. The first step in this direction is to privatize much of the public property so that it can be managed with a goal of profitability. The privatization of housing and small firms is very important, but the successful privatization of large enterprises plays a crucial role in the country's overall economic success. Profitability of a large enterprise …

Environmental And Psychological Challenges Facing Entrepreneurial Development In Transitional Economies, Fred Luthans, Alexander D. Stajkovic, Elina Stajkovic

Department of Management: Faculty Publications

In the former planned economies, a major result of the economic reform programs has been the resurgence of private entrepreneurship. As these countries have struggled to make the transition to a market-based economy over the past decade, the environment has played an important structural role in entrepreneurial development. However, from a psychological perspective, the environmental structural context affects human action through cognitive processes such as self-regulation. Thus, we first identify and analyze the effect of the political, economic, legal, and cultural environment on the development of entrepreneurship in transitional economies, mainly using the former Soviet Union and particularly the Republic …

Predicting Turnover And Retention In Nursing Home Administrators: Management And Policy Implications, Douglas A. Singh, Robert C. Schwab

Faculty Publications

Administrator turnover and its impact on the quality of patient care are important concerns in the nursing home industry. This study evaluates a model to determine which factors, attitudes, and personal characteristics can predict tenure. Responses to a survey from 290 nursing home administrators (NHAs) who furnished data on their previous positions were analyzed using logistic regression methods. The extracted model correlates tenure with the administrator's past patterns of stability, community attachment, organizational commitment, and facility performance. The model is particularly effective (85% accuracy) in flagging NHAs who are likely to depart within their first 3 years of employment. Implications …

The Relationship Between Transitory Organizational Structures And Non-Linear Environments, Valentin H. Pashtenko, Matthew H. Roy, Sanjiv S. Dugal

WCBT Faculty Publications

Examines non-linear adaptation to change in the high-technology environment of the computer industry. These environments are defined, and the efficacy of different organizational adaptations is assessed with respect to these environments. Results from our analyses show that there is a direct and causal relationship between the employment of non-linear organizational archetypes and organizational effectiveness within high-technology industries.

Reward Contingency, Unemployment, And Functional Turnover, Chuck R. Williams

Scholarship and Professional Work - Business

Based on the valence model of expectancy theory and the Cornell model of job satisfaction, this field study investigated the relationship between reward contingency, unemployment, pay satisfaction, job satisfaction, and functional turnover. The latter of which separates turnover into four categories: poor performing leavers, good performing leavers, poor performing stayers, and good performing stayers. It was conducted with a geographically dispersed sample of sales representatives (i.e., from 25 states and 66 cities), resulting in unemployment rates that ranged from 2 percent to 12 percent. The sales representatives were employed by four companies that paid different combinations of salary and commissions, …

Multinationality-Performance Relationship: A Review And Reconceptualization, Madan Annavarjula, Sam Beldona

WCBT Faculty Publications

Numerous empirical investigations have attempted to study the relationship between multinationality and firm performance. Results from these studies have produced conflicting findings about this relationship. It is argued that one of the causes of the conflicting findings may be an imprecise conceptualization of multinationality. A multidimensional conceptualization is proposed based on a methodological review of previous research.

Interviewing Process Handbook For Library Media Specialists, Vicki H. Stegall

Graduate Research Papers

The purpose of this research was to investigate the job application procedure specifically for the school library media specialist, with an emphasis on interview questions. As a result of this research project, "Employment Handbook for School Library Media Specialists" was written. Research showed the majority of interview questions presented to the school library media specialist were classified in the Professional - Media Specialist category.

2000-2003 Supplementary Materials, Morehead State University. Board Of Regents.

Morehead State Board of Regents Agenda Books and Meeting Minutes

Contains supplementary materials from Board of Regents meetings from 2000 to 2003 that were scanned and saved by the President's Office on a computer compact disc. The records include resolutions, reports, budgets, statistics, policy and procedure changes and other documents presented to the Board.

Student Information System (Online Course Registration System), Wai Keong Har

Student Works (2000-2009)

This Student Information System (SIS) will be developed with the objectives of utilizing the computer and Information technology to provide an easy and converuent online course registration system for the Faculty of Computer Science and Information Technology. This system promises a new dimension, which transcends across time and space. Time and space no longer are barriers. Students can register their courses at a different location and at a different time zone. SIS is a web-based application that uses to keep track of students' information. SIS consists of two sections that are student section and administrator section. Student section will be …

Back To The Future: A Search For Economic Progress Or Roots? A Comparison Of Experiences Between African American Entrepreneurs In South Africa And In The United States, Melinda Dowell Harris

Student Scholarship

This study addresses some of the challenges and opportunities that African Americans encounter in their quest for economic and personal progress. Further, the study implies that minority entrepreneurs are a special breed of entrepreneur, combining personal, professional, and financial success with that of shared-identity peers. African American entrepreneurs' views of success transcend personal financial gain to incorporate economic and civic progress with those with whom they share identity. Twenty African American entrepreneurs in South Africa and in the United States were interviewed. These individuals were identified through various local and government agencies, as well as through individuals who are in …

An Analysis Of Quality Practices And Business Outcomes In Western Australian Hospitals, Janis Mussett

Theses: Doctorates and Masters

This study aimed at identifying aspects of health care organisational management and activities that produced the highest level of quality care. A Literature review was conducted to determine the most successful quality activities currently used in a wide variety of industries. Using the findings of this review a questionnaire and interview questions were designed to identify factors associated with successful quality activities I health care organisations. Four Western Australian hospitals that were believed to have effective quality activities were randomly selected as a hospital from each of the following categories. A private hospital accredited by the Australian Council on Health …

Intellectual Capital: Managerial Perceptions Of Organisational Knowledge Resources, Mark Valentine St Leon

Theses: Doctorates and Masters

This study addresses the question 'To what extent does organisational type and managerial role define managers' perception of Intellectual Capital?' Our understanding of the phenomenon of Intellectual Capital is an emerging one. The most recent attempts to describe and define Intellectual Capital identify a dynamic 'action' perspective as well as a static 'perception' perspective. Intellectual Capital broadly describes the resources of knowledge available to an organisation, whether embodied in human or non-human forms, and which are capable of being transformed into and codified as productive organisational assets. The emergence, development and application of concepts of Intellectual Capital herald the arrival …

The Development Of A Safety Self-Assessment Tool For The Printing Industry, John Lawrence Grahek

College of Graduate Studies: Theses & Dissertations (1964–2006)

No abstract provided.

Effects Of Peer Mentoring On Types Of Mentor Support, Program Satisfaction And Graduate Student Stress: A Dyadic Perspective, Ellen A. Ensher, Elisa J. Grant-Vallone

Management Faculty Works

Examines the effects of a graduate student peer-mentoring program from the perspectives of both members of the mentoring dyad, the mentors and proteges. Results indicate that peer mentoring provides students with both increased levels of psychosocial and instrumental support, and that those with high levels of support are more satisfied with their peer mentoring relationships.

Western Australian Agriculture - Key Achievements 1999 - 2000, Agriculture Western Australia

Farm Systems and Economics published reports

Agricultural continue to underpinning employment opportunities and the financial viability of the agricultural sector. While the traditional industries such as cereals, wool exports grow and meat remain the most valuable, the growth in oilseeds, pulses, viticulture and horticulture is significant. The resurgence in the live animal trade has been an important milestone for Western Australia and it is essential that we continue to build on this.

To maintain competitiveness, WA farmers need to be at the cutting edge of new technology, responsive to changing customer needs and actively developing new trade opportunities.

Progress Rural Western Australia and Better Business programs …

Environmental Ethical Decision Making In The U.S. Metal-Finishing Industry, Brenda L. Flannery, Douglas R. May

Department of Management: Faculty Publications

We investigated the individual and contextual influences shaping the environmental ethical decision intentions of a sample of managers in the U.S. metal-finishing industry in this study. Ajzen's (1991) theory of planned behavior and Jones's (1991) moral intensity construct grounded our theoretical framework. Findings revealed that the magnitude of consequences, a dimension of moral intensity, moderated the relation- ships between each of five antecedents-attitudes, subjective norms, and three perceived behavioral control factors (self-efficacy, financial cost, and ethical climate)- and managers' environmental ethical decision intentions. We then developed implications for theory and practice in environmental ethical decision making.

The Impact Of Culture On Feedback-Seeking Behavior: An Integrated Model And Propositions, Mary Frances Sully De Luque, Steven M. Sommer

Department of Management: Faculty Publications

In recent research scholars have addressed the issue of an individual's behavior in feedback-seeking activity and, except in scant studies, have virtually ignored the role of culture in this area. In this article we explore four cultural syndromes, based on past research, to form a cross-cultural model of feedback-seeking behavior. We advance propositions for the study of culture as a moderator to feedback-seeking behavior.

Doctrinal And Applied Tqm In Relation To Dominant Models Of Organisation: A Comparative Study, Brad J. Moore

Theses : Honours

Total Quality Management (TQM) is examined in five organisations in light of the assumption that its implementation is an ongoing negotiated order rather than an objective reality as often accepted by the literature. Guided by a theoretical framework identified by Spencer (1994) and a qualitative methodology suggested by Miles and Huberman (1994), the perceptions of a cross section of organisational members in five organisations are used to establish the nature of applied TQM in terms of mechanistic and organismic 'mental models' of organisation and the degree to which applied TQM varies from the basic doctrine. It is argued that both …