Compound trend renewal process with discounted claims: a unified approach

We derive recursive formulas for the moments of compound trend renewal sums with discounted claims. An integral expression for the moment generating function of this risk process is then obtained, from which particular distribution functions are found. We extend the compound (deterministic) trend renewal process by assuming a stochastic trend, a stochastic force of net interest and a stochastic dependence between the inter-occurrence times and the severities of the claims. Finally, stochastic dominance ordering is also observed between the compound trend renewal process and an associated non-homogeneous Poisson process.     

There are no Codes,Only Interpretations. Practical Wisdom and Hermeneutics in Monastic Organizations

Corporate codes of ethics, which have spread in the last decades, have shown a limited ability to foster ethical behaviors. For instance, they have been criticized for relying too much on formal compliance, rather than taking into account sufficiently agents and their moral development, or promoting self-reflexive behaviors. We aim here at showing that a code of ethics in fact has meaning and enables ethical progress when it is interpreted and appropriated with practical wisdom. We explore a model that represents an uncommon organizational code of ethics: the monastic Rule of St. Benedict, written in the sixth century and still used today. Our empirical study—conducted in several monasteries living under this rule—shows that organization members interpret this rule, both hermeneutically and ethically, to adapt it to situations. They also appropriate this rule as a way of life and treat it as a dynamic framework that helps them to follow their purpose within their organization. This exceptional code actually offers an alternative model for practicing codes of ethics, in a virtue-ethical manner, beyond mere compliance with the text. The way in which reflexive and active agents practice the code, both individually and collectively, shapes their organizational experience and fosters their moral development.     

Indicators for an Environmental Assessment of Tourism at National Level

The paper first places the research within the context of international initiatives of developing environmental indicators for the tourism sector: indicator frameworks, data constraints and communication needs, national versus local approaches and indicator development procedures. The question of data availability, collection and processing is often undermined, and the national scale is the most relevant to analyse tourism driving forces and tourism/transport interrelationships. The main results of the French national assessment, led by the French Institute for the Environment in 1999–2000, are then presented, from the driving forces of environmental impacts (such as spatial and temporal concentrations, or the evolution of tourism demand as regards to the environment) to environmental impacts at national and destination level. French mobility patterns are dominated by road transport; they are moving towards shorter stays and more frequent departures, which lead to a high impact situation. The accommodation capacity is strongly marked by secondary homes, which imply more constructions (and more space consumption) for the same number of stays. Environmental management initiatives, from public and private stakeholders, are still unable to counter these long-term trends.     

In Search of Individual Responsibility: The Dark Side of Organizations in the Light of Jansenist Ethics

This article tracks Corporate Social Responsibility (CSR) as an emergent organizational process that places the employee at its center. Predominantly, research on CSR tends to focus on external pressures and outcomes leading to a neglect of CSR as a dynamic and developing process that relies on the involvement of the employee as a major stakeholder in its co-creation and implementation. Utilizing case study data drawn from a study of a large multinational energy company, we explore how management relies on employees’ interaction with CSR as the process of initiation → implementation → maturation develops. Employee involvement grows from a minor element in the CSR initiation stage to a vital contributory factor in CSR’s success in the later stages of the process. The article offers new insights into a processual and interactional approach to CSR that accounts for the actions of different actors involved at each stage. Most unusually, it also recognizes the dual impact this has on broader issues concerning the management and involvement of employees through CSR actions, and gaining legitimacy in the eyes of not only external stakeholders but internal too.     

Covariance of discounted compound renewal sums with a stochastic interest rate

Formulas have been obtained for the moments of the discounted aggregate claims process, for a constant instantaneous interest rate, and for a claims number process that is an ordinary or a delayed renewal process. In this paper, we present explicit formulas on the first two moments and the joint moment of this risk process, for a non-trivial extension to a stochastic instantaneous interest rate. Examples are given for Erlang claims number processes, and for the Ho–Lee–Merton and the Vasicek interest rate models.     

Recursive Moments of Compound Renewal Sums with Discounted Claims

Under regularity conditions, Le´veille´& Garrido [6] gives a derivation of the first two moments (resp. asymptotic) of a Compound Renewal Present Value Risk (CRPVR) process using renewal theory arguments. In this paper, with the same procedure and assuming that all the moments of the claim severity and the claims number process exist, we get recursive formulas for all the moments (resp. asymptotic) of the CRPVR process.     

Reconceptualizing CSR in the Media Industry as Relational Accountability

In this paper, we reconceptualize CSR in the media industries by combining empirical data with theoretical perspectives emerging from the communication studies and business ethics literature. We develop a new conception of what corporate responsibility in media organizations may mean in real terms by bringing Bardoel and d’Haenens’ (European Journal of Communication 19 165--194 2004) discussion of the different dimensions of media accountability into conversation with the empirical results from three international focus group studies, conducted in France, the USA and South Africa. To enable a critical perspective on our findings, we perform a philosophical analysis of its implications for professional, public, market, and political accountability in the media, drawing on the insights of Paul Virilio. We come to the conclusion that though some serious challenges to media accountability exist, the battle for responsible media industries is not lost. In fact, the speed characterizing the contemporary media environment may hold some promise for fostering the kind of relational accountability that could underpin a new understanding of CSR in the media.     

The Potential Impacts of Climate Change on French Tourism

This paper deals with the potential effects of climate change on tourism in France. It examines the implications of a scenario by Météo-France (doubling the concentration of CO2) with regards to the climatic requirements of tourists, according to the different seasons, regions and natural resources on which tourism is based.