Asset prices in a Huggett economy

This paper explores asset pricing in economies where there is no direct insurance against idiosyncratic risks but other assets can be used for self-insurance, subject to exogenously-imposed borrowing limits. We analyze an endowment economy, based on Huggett (1993) [11], both with and without aggregate risk. Our main innovation is that we obtain full analytical tractability by studying the case with “maximally tight” borrowing constraints. We illustrate by looking at riskless bonds, equity, and the term structure of interest rates, and we show that the model can reproduce many features of observed asset prices when idiosyncratic risks are quantitatively reasonable.     

Green marketing strategies: an examination of stakeholders and the opportunities they present

As green marketing strategies become increasingly more important to firms adhering to a triple-bottom line performance evaluation, the present research seeks to better understand the role of “green” as a marketing strategy. Through an integration of the marketing, management, and operations literatures, an investigative framework is generated that identifies the various stakeholders potentially impacted through the environmentally friendly efforts of a firm. Specifically, the inter-connected nature of the core business disciplines of marketing, management (both strategy and human resources), and operations are examined as controllable functions within an organization from which strategies can be enacted to affect a firm’s stakeholders. The prior research in these areas is examined to identify potential research opportunities in marketing while also offering a series of representative research questions that can help guide future research in marketing.     

Understanding cooling towers: The route to energy savings

Why do we use cooling towers? The answer is simple. Cooling towers allow us to efficiently reject heat to the atmosphere at a lower temperature than other available processes. The key words in that last sentence are “at a lower temperature”.     

Pricing Sydney water*

The paper estimates an aggregate daily water demand for Sydney using rainfall, temperature, and price data from 2001 to 2005, and a dummy variable to account for reductions in demand following the introduction of water restrictions in October 2003. Analyses based on the estimated price elasticity, and also values one and two standard errors above and below this estimate, are used to model the effects of different pricing and water supply scenarios. The simulations indicate that without a fundamental change in water policy (pricing and supply) Sydney faces the possibility of critical water shortages in the short- to medium-term should there be a continuation of low rainfall events.     

Development of a Technology Education Cascading Theory through community engagement site-based support

If teachers are not equipped to teach Technology Education subject nationally and internationally, the continent of Africa will continue to bear the brunt of unsavoury results unless radical interventions are implemented to transform the situation. It is against this background that action research methods became a useful site-based support to empower Technology teachers at three sampled schools from Tshwane South Circuit in Gauteng Province of South Africa. The purpose of this study was to share fresh perspectives on how a sample of Technology teachers responded to content-related classroom practices during reflective action research activities that took place during community engagement contact sessions. These teachers, who are under qualified and unqualified to teach this subject, were engaged in circular and spiral action research cycles. The teachers’ engagement brought forth the development of Technology Education Cascading Theory. It was evident that community engagement activities served as a podium to transform teachers’ teaching of Technology Education and enhance learners’ achievement. The study was underpinned by cooperative enquiry theory and engaged participants in reflective practices of developmental action paradigm. Interaction with Technology Education teachers further revealed that most of them need their schools to budget for this Technology subject they are teaching.     

Critical competencies and developmental experiences for top HR executives

This article describes the context and methodology used in formulating and validating a senior-level human resource competency model for professional development. The development and implementation of the architecture for the model, including the provision of various developmental tools and experiences, was undertaken by the Society of Human Resource Management, a professional association dedicated to the advancement of the human resource profession. The purpose of this effort is to specify benchmarks for professional competence building and to reposition the emerging role and processes associated with the human resource function in responding to the changing organizational and competitive challenges facing United States-based, multinational organizations. © 1996 by John Wiley & Sons, Inc.