Business Commons^™

Commissioners Annuity Reserve Valuation Method (Carvm), Keith P. Sharp

Journal of Actuarial Practice (1993–2006)

This paper describes the commissioners annuity reserve valuation method (CARVM) and highlights the fundamental contrast with insurance valuation. Numerical examples illustrate methods of applying CARVM to particular annuity designs. The application of NAIC Actuarial Guideline 13 on bailouts is given particular attention.

Credibility Calculations Using Analysis Of Variance Computer Routines, Dennis H. Tolley, Michael D. Nielsen, Robert Bachler

Journal of Actuarial Practice (1993–2006)

In this paper we present a method of calculating Buhlmann-Straub credibility factors using standard statistical techniques developed for the analysis of variance. Emphasis is placed on using readily available statistical packages such as SAS and SPSS. Additionally many other computational tools such as EXCEL can be programmed to make such calculations. An example and some sample SAS programs are provided.

Determination Of Optimal Premiums As A Constrained Optimization Problem, Farrokh Guiahi

Journal of Actuarial Practice (1993–2006)

A simple stochastic model of an insurer's underwriting and related investment operations is used to determine the optimal amounts of written premiums for one period for the insurer's book of business. The written premium for each class is determined by the solution of a constrained optimization problem. The insurer's objective function is the expected profit on a book of business over the period. The insurer has a safety constraint where a certain portion of capital and surplus can be depleted with a small probability. This paper provides an explicit solution for optimum expected profit and corresponding written premiums by classes. …

A Fuzzy Approach To Grouping By Policyholder Age In General Insurance, Richard J. Verrall, Yakoub H. Yakoubov

Journal of Actuarial Practice (1993–2006)

In general insurance, policyholder age is often treated as a factor with the number of levels requiring that the individual ages of the policyholders be grouped. Although the groups are usually defined by the existing underwriting structure, it should be investigated as part of any premium rating exercise that uses a model to assess past claims experience. It is possible that an incorrect grouping by policyholder age could bias the results of the risk premium estimation. On the other hand, it may not be computationally feasible to use separate ages in the premium model, making some form of grouping necessary. …

Multilife Premium Calculation With Dependent Future Lifetimes, Michel Denuit, Anne Cornet

Journal of Actuarial Practice (1993–2006)

Actuaries traditionally have calculated multi-life (joint life) premiums by assuming the independence of the future lifetimes of insured persons. Recent studies, however, demonstrate dependence of the future lifetimes of couples (such as husbands and wives). This dependence materially affects the values of multi-life annuities and insurances. Using the Frechet-Hoeffding bounds and Norberg's Markov model, we determine the effect of this dependence in lifetimes on the actuarial present values of a widow's pension benefit.

Recognizing Actuarial Assumptions, Victoria Stachowski, Alice Underwood

Journal of Actuarial Practice (1993–2006)

As assumptions underlie every aspect of actuarial calculations, actuaries must be aware of the assumptions they are using and understand their importance and the possible effects of changing assumptions on the results of their calculations. This paper explores the nature of assumptions in: (i) mathematical models, (ii) data selection, (iii) actuarial methods, and (iv) the business environment. We examine reasons for making assumptions such as convenience, tradition, indications in the data, or lack of data. In addition, we discuss (i) how actuaries can judge whether these reasons are sufficient; (ii) methods that can help actuaries quantify the impact of their …

Carvm And Naic Actuarial Guidelines 33 & 34, Keith P. Sharp

Journal of Actuarial Practice (1993–2006)

Annuity valuation under the NAIC Standard Valuation Law is determined according to methods different from those methods used for life insurance. The CARVM assumption of efficient policyholder selection is clarified under NAIC Actuarial Guidelines 33 and 34 to allow for non-elective (e.g., death) benefits. In particular, Actuarial Guideline 34 is oriented toward variable annuities and prescribes methods to be used in the presence of a minimum guaranteed death benefit. In this paper these methods are examined and illustrated with examples.

Implementation Of The Ism Code To Agencia Maritima De Servicios, C.A. (Amarserca), Oswald Jose Vargas

World Maritime University M.Sc. Dissertations

This dissertation comprises a practical implementation of the International Safety

Management (ISM) Code to a Company which deals with vessel traffic services and

pilot boat services.

Day by day the shipping industry is pressed to raise their standards with respect to

the safety of life at sea, damage to property and environmental protection, especially

after a major accident occurs. However, it has been determined that in most of the

cases human elements and poor managerial decision have been the cause of the

accidents. Consequently, the ISM code was adopted with the same aim of

protecting life at sea, property and …

A Data Dictionary Approach To Meeting User Requests For Accounting Information, Kristi Jane Yuthas, Dennis F. Togo

Business Faculty Publications and Presentations

In this era of massive data accumulation, dynamic development of large-scale databases and inteifaces intended to be user-friendly, there is still an increasing demand on analysts as actual user access to databases is still not a common practice. A data dictionary approach, that includes providing users with a list of relevant data items within the database, can expedite the analysis of information requirements and the development of user-requested information systems. Furthermore, this approach enhances user involvement and reduces the demands on the analysts for systems development projects.

Neje Interview With Stew Leonard Jr., Ceo, Stew Leonard's Company

New England Journal of Entrepreneurship

NEJE interviews Stew Leonard Jr., CEO of Stew Leonard's Company.

Ethical Work Climate, Covenantal Relations, And Organizational Citizenship Behavior, Elizabeth C. Schubert

Doctoral Dissertations

The primary focus of this study was to provide an empirical evaluation of the relationship between perceptions of ethical work climate and organizational citizenship behavior. The study also investigated covenantal relations as a mediator of that relationship.

The sample for this research was comprised of subordinates and supervisors representing two locations of a national retail sales organization. Data were collected using both subordinate and supervisor responses. Subordinates reported on their perceptions of ethical work climate, covenantal relations between themselves and the organization, and their organizational citizenship behavior. Supervisors reported their perceptions of the subordinates' organizational citizenship behavior. Scales used to …

Employee Benefit Plans Industry Developments - 1999; Audit Risk Alerts, American Institute Of Certified Public Accountants

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Health Care Industry Developments - 1999/2000; Audit Risk Alerts, American Institute Of Certified Public Accountants. Auditing Standards Division

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Linking It Applications With Manufacturing Strategy: An Intelligent Decision Support System Approach, Ravi Kathuria, Murugan Anandarajan, Magid Igbaria

Business Faculty Articles and Research

Research has indicated the importance of matching Information Technology (IT) applications or manufacturing systems with the competitive strategy of a company. Selection of the right type of IT application is, however, a challenging task. When a company, with a given dominant process structure, emphasizes two or more competitive priorities, such as quality, product flexibility, etc., an unaided manager faces a complex decision problem in choosing from alternative IT applications available in the areas of product design through distribution. In this paper, we developed an Intelligent Decision Support System (IDSS) that would assist managers with: assessment of the relative importance of …

The Cluster Connection - Volume 6, Issue 3 - Winter 1999, Nova Southeastern University

The Cluster Connection

No abstract provided.

Bachelor Of Science In Professional Management Online 1999, Nova Southeastern University

Huizenga Undergraduate Course Catalogs

No abstract provided.

Government Auditing Standards. Amendment No. 1 : Documentation Requirements When Assessing Control Risk At Maximum For Controls Significantly Dependent Upon Computerized Information Systems, United States. General Accounting Office

Federal Publications

No abstract provided.

University Preference : A Conjoint Analysis, Julia P. Turner

Theses: Doctorates and Masters

The business of tertiary education has become more and more competitive in recent years due to reductions in government funding and higher study fees. As the nature of the environment grows more competitive the role of marketing, previously non-existent in most universities, has grown significantly. One of the key pieces of information that would assist the marketing effort of any university is an understanding of what determines university preference. This study examines university preference in Western Australia. A form of conjoint analysis, known as Adaptive Conjoint Analysis (ACA), was used to investigate the relative importance of a number of attributes …

The State Of The Parties (Third Edition), John C. Green, Daniel M. Shea

The State of the Parties Third Edition

The third edition of this best-selling collection includes over a dozen new essays and several revised chapters from earlier editions. Current coverage of national, state, and local parties includes chapters on hot topics like technology, money, and campaigns. Major party activities are presented in the context of presidential elections, legislatures, and in the courts. Minor parties - especially the Reform Party - are covered here more comprehensively than anywhere else. Thorough, original, and challenging “anchor” pieces by leading scholars serve to ground the book in the key scholarship on parties even as they launch into new explorations of party evolution. …

Competing In The '00s Environment: Strategic And Human Resource Initiatives, Richard Hodgetts, Fred Luthans, John W. Slocum, Jr.

Historical Working Papers

Reviewing the literature, this article provides a synthesis and overview of management thinking at the turn of the century.

Stakeholders, Social Responsibility, And Performance: Empirical Evidence And Theoretical Perspectives, Jeffrey S. Harrison, R. Edward Freeman

Management Faculty Publications

The management of competing stakeholder interests has emerged as a significant topic in the management literature. Related issues are the relationship between stakeholder management and the perception that a firm is socially responsible, and the performance implications of both stakeholder management and social responsibility. Theory and models surrounding these issues are abundant, but empirical research is in an early stage. This research forum reports six excellent efforts to tackle fundamental ideas about stakeholders, social responsibility, and performance.

Exploring The Relationship Between Personality Factors And Consumer Expectations Of Recovery Following Service Failure, Kylie J. Day

Honors Capstones

No abstract provided.

Louisiana Works Campaign, Jeremy Tucker

Honors Capstones

No abstract provided.

Positively Influencing Physicians: The Levers Of Influence, William Martin

College of Business Faculty and Staff Works

No abstract provided.

Maritime Namesakes Of A.C. Van Raalte, Geoffrey D. Reynolds

Faculty Publications

Maritime Namesakes of A.C. Van Raalte is an article that concerns the history of the great lakes ships that bore his name for over eighty years.

Irish Marketing Review, Vol. 12, No. 2, 1999, Unknown

Issues

The Irish Marketing Review deals with issues, developments, research and practice in marketing.

The Role Of Organizational Reality In Implementing Technology, Sakthi Mahenthiran, M. D’Itri, R. Donn

Scholarship and Professional Work - Business

Reports on the structurational model of technology which shows how workers who had the power to make the implementation successful affected the data that was collected and the extent to which management was able to use the technology to influence their work. Systems for recording job-related data; Analyzing organizational processes; Application of the structurational theory.

Seeing Is Believing; Or Is It? An Emperical Study Of Computer Simulations As Evidence., Robert B. Bennett, Jordan H. Leibman, Richard Fetter

Scholarship and Professional Work - Business

Relying on the old adage, "seeing is believing," we conclude that the jury may give undue weight to an animated reconstruction of the accident .... It would be an inordinately difficult task for the plaintiff to counter, by cross-examination or otherwise, the impression that a computerized depiction of the accident is necessarily more accurate than an oral description of how the accident occurred. Because the expert's conclusion would be graphically depicted in a moving and animated form, the viewing of the computer simulation might more readily lead the jury to accept the data and premises underlying the defendant's expert's opinion... …

The Federal Trademark Dilution Act Of 1995: Potent Weapon Or Uphill Battle?, Erin J. Roth, Robert B. Bennett

Scholarship and Professional Work - Business

Following a brief discussion of the history of trademark infringement law, the events leading to the FTDA, and an overview of the FTDA, this paper discusses the major causes of the FTDA's ineffectiveness. We will then review the application of the act, discuss its implications on the future of trademark ownership in business, and suggest improvements to the legal application of the act.

Banking On The Euro: Changes And Challenges, William K. Templeton, Charlotte A. Bond

Scholarship and Professional Work - Business

Considers the likely effects of EMU and the introduction of the euro on the “fragmented” European banking industry. Recognizes that transition to the euro will be expensive in terms of equipment, training, customer care etc.; and that some new products and services will be demanded (e.g. cross-border cash management systems, euro-denominated bonds etc.) while others will decline (e.g. foreign exchange hedging, commercial loans etc.). Refers to US experience to identify growth opportunities and discusses the current and future impact of increased competition in the new market; and strategies for surviving it.