Business Administration, Management, and Operations Commons^™

Risk-Based Regulatory Capital For Insurers: A Case Study, Christian Sutherland-Wong, Michael Sherris

Journal of Actuarial Practice (1993–2006)

We study the issues in determining regulatory capital requirements using advanced modeling by assessing and comparing capital requirements under the two alternative approaches. A dynamic financial analysis (DFA) model is used for this case study. These issues are of current international interest as regulators, insurers, and actuaries face the significant issues involved with the introduction of risk-based capital for insurers.

Reputation Pricing: A Model For Valuing Future Life Insurance Policies, Rami Yosef

Journal of Actuarial Practice (1993–2006)

The reputation of a life insurer is used to develop a model for determining the value of future life insurance policies. An M / G / 00 process is used to describe the sales and terminations (due to death or maturity) of future policies. The intensity of the arrival process is assumed to depend on the company's reputation. Explicit expressions are derived for the actuarial reserves and expected profits of these future policies.

Journal Of Actuarial Practice - Volume 12 (2005) - Contents And Masthead

Journal of Actuarial Practice (1993–2006)

Contents

Editorial Policy: Topics suitable for this journal include AIDS, annuity products, asset-liability matching, cash-flow testing, casualty rate making, credibility theory, credit insurance, disability insurance, expense analysis, experience studies, FASB issues, financial reporting, group insurance, health insurance, individual risk taking, insurance regulations, international issues, investments, liability insurance, loss reserves, marketing, pensions, pricing issues, product development, reinsurance, reserving issues, risk-based capital, risk theory, social insurance, solvency issues, taxation, valuation issues, and workers' compensation

Review Process

Editor - Colin Ramsay, University of Nebraska

Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, Actuarial Frameworks ○ …

An Application Of Control Theory To The Individual Aggregate Cost Method, Alexandros A. Zimbidis, Steven Haberman

Journal of Actuarial Practice (1993–2006)

The paper investigates the individual aggregate cost method (also known as the individual spread-gain method), which is normally applicable in small pension funds or fully contributory schemes, using a control theoretical framework. We construct the difference equations describing the mechanisms of the respective funding method and then calculate the optimal control path of the contribution rate assuming (first) a stochastic and (second) a deterministic pattern for the future investment rates of return. For the first case, the optimal solution is achieved through a linear approximation and using stochastic optimization techniques. It is proved that the contribution rate is (optimally) controlled …

A Modern Approach To Modeling Insurances On Two Lives, Maria Bilikova, Graham Luffrum

Journal of Actuarial Practice (1993–2006)

The analysis of life insurance contracts on two lives using the traditional deterministic approach has been an important part of actuarial education for the past fifty years or more. Recently there has been a shift from this deterministic approach to one using a more modern stochastic approach involving the future lifetime random variable. In this paper we will look at the problem using multiple-state models. In our view this approach allows a deeper analysis than either the traditional or the random future lifetime ones.

Ultimate Ruin Probability For A Time-Series Risk Model With Dependent Classes Of Insurance Business, Lai Mei Wan, Kam Chuen Yuen, Wai Keung Li

Journal of Actuarial Practice (1993–2006)

We consider a discrete-time risk model with m (m ~ 2) dependent classes of insurance business. The claim processes of these m classes are assumed to follow a multivariate autoregressive time-series model of order 1. Given this claims model, we explore the probability of ultimate ruin assuming exponentially bounded claims. As an example, we use simulations to study the case where there are two business and the underlying losses are of two types: bivariate exponential and bivariate gamma claim distributions.

Competative Challenges:Chain Reactions:An Analysis Of Supply Chain Management And Competitive Solutions For The Island Of Ireland, Austin Smith, Bernd Huber

Reports

No abstract provided.

Journal Of Actuarial Practice, Volume 12, 2005, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Risk-Based Regulatory Capital for Insurers: A Case Study • Christian Sutherland-Wong and Michael Sherris 5

A New Hybrid Defined Benefit Plan Design • Wayne E. Dydo . 47

A Primer on Duration, Convexity, and Immunization • Leslaw Gajek, Krzysztof Ostaszewski, and Hans-Joachim Zwiesler 59

Modeling Clusters of Extreme Losses • Beatriz Vaz de Melo Mendes and Juliana Sa Freire de Lima 83

Modeling Insurance Loss Data: The Log-EIG Distribution • Uditha Balasooriya, Chan Kee Low, and Adrian Y W Wong 101

A Modern Approach to Modeling Insurances on Two Lives • Maria Bilikova and Graham Luffrum 127

On the …

Student Performance In Upper - Division Business Core Courses : Using Control Variables To Determine The Effect Of Class Size, Donna A. Driscoll, Paul J. Lazarony, Janna Arney, Earl J. Weiss

Management Faculty Publications

Although the effect of class size upon student performance has been the focus of numerous studies, the results have been extremely mixed, including positive effects, no effects, and negative effects. The authors of this study believe that this lack of consensus could be due, at least in part, to the shortage of control variables employed in previous studies. The purpose of this study was to determine whether the addition of four control variables (course being taught, length of class period, instructor, and student ability level) to the analysis would be helpful in isolating the effect, if any, of class size …

2005- 2008 Unlv Mcnair Journal, Valerie Avery, Shana Bachus, Karmen K. Boehlke, Andrea Flores, Alden Kelly, Erick Lopez, Carol Preussler, Heather Shay, Ava Bookatz, Shaun Elsasser, Veronica Hicks, Shaida A. Jetha, Anthony Quinn, Thurithabhani Seneviratne, Teddy Boado Sim Jr., Liza Ward, Amris Henry-Rodgers, Jacquelynn Kaaa-Logan, Jason Orozco, Juan C. Plata, Bonnie Bartlett, Kathleen Bell, Vacheral M. Carter, Nydia Diaz, Kimberly Hackstock, Julio A. Luna, Charles Mao, Sandra Ramos, Precious Rideout, Benjamin Lee Watrous, Chet R. Whitley

McNair Journal

Journal articles based on research conducted by undergraduate students in the McNair Scholars Program

Table of Contents

Biography of Dr. Ronald E. McNair

Statements:

Dr. Neal J. Smatresk, UNLV President

Dr. Juanita P. Fain, Vice President of Student Affairs

Dr. William W. Sullivan, Associate Vice President for Retention and Outreach

Mr. Keith Rogers, Deputy Executive Director of the Center for Academic Enrichment and Outreach

McNair Scholars Institute Staff

E-Procurement In The Aviation Industry: Value Creation Potential Of B2b Emarketplaces, Claudia-Maria Wagner, Bernd Huber, Edward Sweeney, Austin Smyth

Articles

In academic literature, only limited research has been undertaken in exploring the value creation of B2B (Business-to-Business) e-Marketplace models in the aviation industry. The aim of this publication is a theoretical analysis to explore whether or not B2B e-Marketplaces can make a contribution to the achievement of competitive advantage in procurement in the aviation industry. The research focuses on the potential of B2B e-Marketplaces in terms of improving an airline’s competitiveness in its procurement value chain and discusses empirical results from a survey among international e-Marketplace / portal operators

An Exploratory Study Of The Factors That Impact On The Application Of Online Learning At The Department Of Planning And Infrastructure Of Western Australia, Alex C. Scholz

Theses : Honours

There is a growing necessity in today's globalised and dynamic business environments for learning systems to be capable of generating the continuous learning needs of the workforces within them. In adapting to their changing environments learning workers are not only required to continuously gather new information but also to transform it into understanding within their local contexts. Much praise has been placed on the capability of new learning technologies such as online learning in supporting organisations learning processes. However, relative limited research has been undertaken on how these new learning technologies support workers in learning processes, how these new learning …

Creating Breadth In Business Education Through Service-Learning, Paul C. Godfrey, Louise M. Illes, Gregory R. Berry

Faculty Publications

We argue service-learning pedagogy and the associated educational experiences provide a partial solution to the significant problem of narrowness in business education. Servicelearning pedagogy seeks to balance academic rigor with practical relevance, set in a context of civic engagement, which furnishes students with a broader and, we argue, richer, educational experience. We present four specific critiques of business education: (1) the business curriculum focuses on functional and discrete rather than cross-functional and holistic knowledge; (2) coursework emphasizes practical problem-solving “tool kits” rather than deep theoretical knowledge; (3) the underlying paradigm of business education views humanity and human interactions in purely …

An Interview With Ian Browde Director Of Strategy And Business Development, Enterprise Solutions Division, Nokia, Inc., Carol M. Sanchez

Peer Reviewed Articles

Interviewer, Carol Sánchez (CS), Associate Professor, Seidman College of Business, Grand Valley State University. Interviewee, Ian Browde (IB), Director of Strategy and Business Development, Enterprise Solutions Division, Nokia, Inc.

2005-00-00 Faculty Handbook, Morehead State University. Faculty Senate.

Faculty Senate Records

Faculty Handbook believed to have been revised between 2002 and 2005.

The Investigation Of The Processes Of Is/It Investment Evaluation And Benefits Realization In B2b-Ec Organisations, Chad Lin, Craig Standing

Research outputs pre 2011

ISIIT investments in B2B-EC are used by organizations, as part of their business strategies, to assist in the inter-organization acquisition of goods into the value chain and to provide interfaces between customers, vendors, suppliers and sellers. However, the issue of expected and actual benefits realized from ISIIT investments in B2B-EC has generated a significant amount of debote in the ISIIT literature amongst researchers and practitioners. This research study showed that organizational satisfaction of B2BEC usage had a direct relationship with the adoption of the ISIIT investment evaluation methodology. There was also a tendency for organizations to evaluate less when their …

A Capabilities Analysis Of E-Fulfilment Businesses: Transformation In The Logistics Industry, Janice Burn, Paul Alexander

Research outputs pre 2011

This paper reports on the evaluation of practices of 48 leading e-fulfillment suppliers in the UK. Initial findings suggest that while a comprehensive model of e-fulfilment is validated these organisations are also providing services not previously recognised as e-fulfilment capabilities by the literature. This leads to the development of a staged model of transformation, which implies that the industry will embrace radical change in some sectors and lead to a new definition of e-fulfillment businesses. More in depth investigation leads to a proposed definition, and a methodology to measure the degree of transformation.

Exploring The Use Of Guided Interviews As A Research Tool In A Doctoral Study Of Safe Work Practices Of Young Construction Workers, Susanne Bahn

Research outputs pre 2011

This paper uses the research processes of a doctoral study that investigates young workers learning safe practices within the housing construction industry to explore the use of guided interviews with artefacts as an ethnographic technique to gather qualitative data. The paper identifies how this specifically vulnerable group are subject to the 'Cycle of Abuse'. The complications of gathering accurate data from the 15-19 age group in this industry are discussed, including dealing with low literacy levels, defensive trainers, power of access and high emotions. The paper reviews the use of images within guided interviews and provides a conceptual model. The …

Bridging The Digital Divide With Community Portal Regional E-Marketplaces For Smes: The Need For An Integrated Approach, Denise Gengatharen, Craig Standing

Research outputs pre 2011

In the late 19908 it was perceived that a digital divide existed in Australia between regional/rural and metropolitan areas and between small and medium enterprises (SMEs) and their larger counterparts. In response, a number of regional community portals and e-marketplaces for SMEs were funded at the federal, state and local government levels. These initiatives were driven by the hope that they would lead to increased online activity and eventually promote regional economic development. A number of these portals and regional e-marketplaces (REMs) are no longer in existence. Of those that remain, some continue to battle with inadequate funding while trying …

The Effectiveness Of Sme Websites In A Buiness To Business Context, Rosemary Stockdale, Chad Lin, Susan Stoney

Research outputs pre 2011

This research analyses the effectiveness of SME business to business websites from a user perspective. An established evaluation instrument (eQual) is used to assess 80 websites in terms of usability, information quality, and interaction and service. The analysis shows that although a significant number of sites reflect little understanding of the attributes of good design or potential benefits to be gained from websites, there are examples of competent and effective website use.

Agglomeration Effects And Strategic Orientations: Evidence From The U.S. Lodging Industry, Linda Canina, Cathy A. Enz, Jeffrey S. Harrison

Management Faculty Publications

This study provides evidence regarding the strategic dynamics of competitive clusters. Firms that agglomerate (co-locate) may benefit from the differentiation of competitors without making similar differentiating investments themselves. Alternatively, co-locating with a high percentage of firms with low-cost strategic orientations reduces performance for firms pursuing high levels of differentiation. Further, the lowest-cost providers with the greatest strategic distance from the norm of the competitive cluster reap the greatest benefit from co-location with differentiated firms. We find empirical support for these ideas using a sample of 14,995 U.S. lodging establishments, and controlling for a number of key demand-shaping factors.

An Hr Planning Model For Outsourcing, Shilpa Khanna, J. Randolph New

Management Faculty Publications

To assist leaders and planners, the researchers provide a new human resource planning model and suggest best practices for planning and implementing an outsourcing engagement. Based on dynamic HR planning theory, and research into current outsourcing cases and approaches, the researchers provide a roadmap to confront the challenges of outsourcing. The researchers also suggest directions for further research on the contemporary outsourcing issues. First and foremost, HR planning should not be outsourced during the outsourcing process. Companies rushing into outsourcing sometimes depend so much on consultants and potential vendors for advice that the critical job of determining the new organization …

Gross Margins Guide 2005 Western Australia, Allan Herbert

Farm Systems and Economics published reports

The Western Australian Department of Agriculture has prepared this 2005 booklet with the following aim:

To provide budgeting information for farmers, agribusiness, and other students of agriculture to enhance understanding and more informed decision making.

It builds on a previous similar booklet - "Gross Margins Guide 2003" - which was produced in 2002 with Commonwealth Bank sponsorship. 2,500 copies of that booklet were produced and gained wide readership. Gross margins for broad area agriculture had not been published by the Department for the previous 1 O years. Feedback and further requests suggested that an update was necessary - hence this …

Family Friendly / Work Life Balance Policies: Perspectives Of Irish Employers And Employees, Caroline Williams

Theses

This study assesses the emergence of family friendly / work life balance arrangements within Irish organisations in view of changing conditions on the labour market, particularly with the increased participation of women. It incorporates the experiences, opinions and commentaries of both Human Resource representatives responsible for the implementation of such practices, and employees availing of them in a broad spectrum of public and private sector organisations.

This research addresses the perceived explicit and implicit barriers, such as organisational size, location and culture which challenge employers and employees in terms of alternative working arrangements. It illustrates the significance of introducing and …

Employee Retention And Customer Relationships In Services Industry, Aileen O'Connell

Theses

The business environment of the 1990s has seen a shift in firms’ emphasis away from recruiting new customers, towards nurturing and retaining those that they currently have (Palmer, 1996). The marketing emphasis has moved from customer acquisition to customer retention. Reicheld, (1996a) has identified a link between customer and employee retention, but this link has not been extrapolated by many researchers. For the purpose of this study, the researcher proposes to examine this link.

A large number of people who work for organisations are no longer what would be termed “traditional” employees of those organisations, i.e. employees for life. These …

The Psychological Capital Of Chinese Workers: Exploring The Relationship With Performance, Fred Luthans, Bruce Avolio, Fred Walumbwa, Weixing Li

Department of Management: Faculty Publications

Everyone knows about China’s huge population and the fast-growing economy. Although macro-level sociological and economic analyses have given some attention to the linkage between the two, at the micro level, the relationship between human resources and, more specifically, psychological capital of Chinese workers and their performance has been largely ignored. Within the context of three factories (two private and one state-owned) in the People’s Republic of China, this exploratory study examined the relationship of a sample (n=422) of Chinese workers’ positive psychological capital states and their performance. Results indicated the workers’ positive states of hope, optimism, and resiliency, separately and …

On The Nature Of Corporations, Lynn A. Stout

Cornell Law Faculty Publications

Legal experts traditionally distinguish corporations from unincorporated business forms by focusing on corporate characteristics like limited shareholder liability, centralized management, perpetual life, and free transferability of shares. While such approaches have value, this essay argues that the nature of the corporation can be better understood by focusing on a fifth, often-overlooked, characteristic of corporations: their capacity to "lock in" equity investors' initial capital contributions by making it far more difficult for those investors to subsequently withdraw assets from the firm. Like a tar pit, a corporation is much easier for equity investors to get into, than to get out of. …

An Inclusive Guide To Assessing Web Site Effectiveness, Janna Arney, Paul J. Lazarony

Management Faculty Publications

This study presents the results of a literature review of the well-established literatures on readability, usability, and Web design. The purpose of this study is to provide a comprehensive review of the literature on readability, usability, and Web design and to propose a three-step evaluation process to assess Web sites in each of these three areas. We recommend that this process be used to evaluate existing Web documents and those still in the design phase. This evaluation process can be utilized as an educational tool in a classroom setting. Using this process in a classroom provides students with much needed …

Effects Of Goal Interdependence And Social Identity On Departments And Their Relationships In China, Liyan Wang

Lingnan Theses

Synergy among departments is increasingly considered vital for organizations to use their full resources to deal with threats and explore opportunities in the rapidly changing marketplace. Although valuable, developing synergy among departments is a difficult management challenge.

Departments within organizations often have their own business goals, yet the coordination of these goals is a precondition for overall organizational effectiveness. The need for goal coordination makes departments interdependent (Thompson, 1967), but this interdependence may become particularly problematic when the different departmental goals are incompatible (St. John & Hall, 1991).

Because of the value of cooperative goals for coordination, managers want to …

Goal Interdependence And Leader-Member Relationship For Cross-Cultural Leadership In Foreign Ventures In China, Yi Feng, Nancy Chen

Lingnan Theses

This study empirically examines the impact of goal interdependence and leader-member relationship on cross-cultural leadership in joint ventures in China. Its two research questions are how to facilitate leader-member relationships between foreign managers and Chinese employees in joint ventures in China, and how foreign managers and Chinese employees can develop cooperative goals in Chinese contexts.

Four hypotheses were generated. Hypothesis 1 examined the effects of leader-member relationship between foreign managers and Chinese employees on cross-cultural leadership. Hypothesis 2 studied the impacts of different goal interdependence on the leader-member relationship between foreign managers and Chinese employees. Hypothesis 3 and 4 investigated …