Enhancing employee creativity in the Chinese context: The mediating role of employee self-concordance

This study applies the theory of self-concordance and adopts the multi-level analysis approach to examine the mediating effect of employee self-concordance, a core component of intrinsic motivation, on the relationship between social-contextual factors and creativity using hotel industry data obtained from Mainland China. The hierarchical linear modeling (HLM) results from a multisource sample reveal that the three social-contextual variables (i.e., organizational modernity, empowering leadership, and coworkers support and helping) were associated with employee self-concordance, which in turn was associated with employee creativity. Moreover, employee self-concordance fully mediated the three social-contextual variables and creativity. This study shows that organization environment plays a significant role in predicting employee creativity. The implications of the findings for future research and their practical applications in the hotel industry are discussed.     

A Simple Model of Insurance Market Dynamics

Abstract

This paper constructs and studies a simple but realistic model of an insurance market. The model has a minimalist construction in the sense that the number of parameters defining it is strictly limited and the elimination of any one of them would destroy its realism. There are 11 essential parameters. Each of the parameters has a physical interpretation. Some determine competitive effects within the market, some barriers to entry, and so on. The effect of each on various aspects of the market is examined in the presence of simulated loss experience. The aspects of the market considered include stability of premium rates, profitability, and market concentration. Some of the parameters are capable of use as regulatory controls. Two parameters, in addition to the original 11, are explicit price controls. Despite its simplicity, the model displays considerably complex behavior. Some results are intuitive, but some are not. For this reason, regulatory controls need to be applied with great caution lest they induce perverse effects, possibly even the reverse of those intended. The effect of the parameters on market behavior is first studied in the absence of catastrophic events from the loss experience. Subsequently, the effect of a single such event is studied.     

An interactional perspective on perceived empowerment: the role of personal needs and task context

This study examines the influence of individual needs and task characteristics on a multifaceted definition of perceived empowerment using an interactional perspective. Respondents were Hong Kong Chinese employees and most of them lower-level or nonmanagerial level workers in business organizations. We used regression analyses to test a number of hypotheses informed by social psychology theories. The significant findings indicate that perceived empowerment is predicted by individual characteristics (need for achievement, need for power), task situations (receipt of task feedback, competency-based reward system, participation in goal setting) and their interactions. Limitations of the study and implications for future research are discussed.     

A Model for Coronary Heart Disease and Stroke with Applications to Critical Illness Insurance Underwriting II: Applications

Abstract

In Part I we constructed a model for the development of coronary heart disease (CHD) or stroke that either incorporates, or includes pathways through, the major risk factors of interest when underwriting for critical illness (CI) insurance. In Part II we extend this model to include other critical illnesses, for example, cancers and kidney failure, and describe some applications of the model. In particular, we discuss CI premium ratings for applicants with combinations of some or all of high body mass index, smoking, high blood pressure, high cholesterol, and diabetes. We also consider the possible effect on CI premium ratings of genetic conditions that increase the likelihood of high blood pressure, high cholesterol, diabetes, CHD event, or stroke.     

Social Transfers And Income Inequality In Old Age

Abstract

This paper examines variation in old-age income inequality between industrialized nations with modern welfare systems. The analysis of income inequality across countries with different retirement income systems provides a perspective on public pension policy choices and designs and their distributional implications. Because of the progressive nature of public pension programs, we hypothesize that there is an inverse relationship between the quality of public pension benefits and old-age income inequality—that is, countries with comprehensive, universal, and generous public pension systems will exhibit more equal distributions of income in old age.

Luxembourg Income Study data indeed show that cross-national variation in old-age income inequality is partly explained by differences in the percentage of seniors’ total income derived from public pension transfers. Sweden, for example, has the highest level of government transfers and the lowest level of old-age income inequality, while Israel and the United States have the lowest levels of dependency on government transfers and the highest levels of income inequality. A notable exception is Canada, where public transfers represent only a moderate portion of elderly income, yet old-age income inequality is relatively low. These findings suggest that quality of public pension benefits does indeed play a role in explaining differences in old-age income inequality between industrialized nations, yet these variations are also likely influenced by other factors.     

Some Nonlinear Threshold Autoregressive Time Series Models for Actuarial Use

Abstract

This paper introduces nonlinear threshold time series modeling techniques that actuaries can use in pricing insurance products, analyzing the results of experience studies, and forecasting actuarial assumptions. Basic “self-exciting” threshold autoregressive (SETAR) models, as well as heteroscedastic and multivariate SETAR processes, are discussed. Modeling techniques for each class of models are illustrated through actuarial examples. The methods that are described in this paper have the advantage of being direct and transparent. The sequential and iterative steps of tentative specification, estimation, and diagnostic checking parallel those of the orthodox Box-Jenkins approach for univariate time series analysis.