Student clubs: experiences in entrepreneurial learning

Student-led clubs that seek to enhance entrepreneurial learning can be found in many universities. Yet, like many areas of extra-curricular activity in entrepreneurship education, their role in supporting learning has not been researched widely. The paper introduces research that addresses this gap and investigates the nature of the learning process student's encounter when they take part in clubs. The study explores the literature on entrepreneurial learning; it examines the different concepts and considers their contribution to understanding student learning experiences. From the literature, a conceptual framework is presented, highlighting the key aspects of entrepreneurial learning relevant for the field research. The methodology is introduced, including a series of qualitative studies and a survey of students. The study focuses on two types of student-led clubs ‘entrepreneurship clubs’ and ‘Enactus clubs’ and provides a comparative analysis. The findings reported show a range of student learning benefits that simulate important aspects of entrepreneurial learning, such as learning by doing, learning through mistakes and learning from entrepreneurs. More nuanced findings are also presented showing differences in learning benefits between club forms and heighten benefits for students taking leadership roles. Ultimately, the paper contributes to research in entrepreneurship by illustrating how student clubs support entrepreneurial learning.     

Talent responses to talent status awareness—Not a question of simple reciprocation

How to manage talent effectively is a key question in organisations. Yet we still know relatively little about talent's psychological reactions to their exclusive status. Based on psychological contract theory and research on status, this study analyses a sample of 321 employees identified as talent by their organisations, only some of whom were aware of their exclusive talent status. The results provide evidence that talent status awareness moderates the relationship between a range of employer inducements and talent obligations, such that it increases the importance of some inducements while diminishing that of others. The study contributes to the talent management literature by isolating specific effects of talent status awareness and calling into question extant evidence of its direct positive effects on talent attitudes. The findings also have implications for talent status communication, talent management, and future theorising of talent reactions to their exclusive status.     

Option pricing under a stressed-beta model

Empirical studies have concluded that stochastic volatility is an important component of option prices. We introduce a regime-switching mechanism into a continuous-time Capital Asset Pricing Model which naturally induces stochastic volatility in the asset price. Under this Stressed-Beta model, the mechanism is relatively simple: the slope coefficient—which measures asset returns relative to market returns—switches between two values, depending on the market being above or below a given level. After specifying the model, we use it to price European options on the asset. Interestingly, these option prices are given explicitly as integrals with respect to known densities. We find that the model is able to produce a volatility skew, which is a prominent feature in option markets. This opens the possibility of forward-looking calibration of the slope coefficients, using option data, as illustrated in the paper.     

The use of organized commodity markets to manage food import price instability and risk

The article explores the possibility of insuring the price risks of wheat and maize imports of low‐income food‐deficit countries (LIFDCs). Optimal strategies for an importing agent, who hedges with futures and options are derived, based on the objective of minimizing the unpredictability of import bills. Ex post simulations for a set of LIFDCs are run on wheat and maize imports hedged with futures and options in the Chicago Board of Trade, to explore the extent to which hedging reduces the unpredictability in import bills. Simulations encompass both periods of normal price behavior, as well as the period of global upheaval that occurred in 2007 and 2008. Results show that hedging with futures alone affords agents considerable opportunities for reducing import cost unpredictability, and the same holds with options, albeit, to a lesser extent. However, during the recent price spike of 2007–2008, hedging with options would have increased the unpredictability of some countries’ maize import bills, due to the combination of erratic import patterns and pronounced market uncertainty.     

The rising disparity in the price of healthful foods: 2004–2008

Nutrient-dense foods that are associated with better health outcomes tend to cost more per kilocalorie (kcal) than do refined grains, sweets and fats. The price disparity between healthful and less healthful foods appears to be growing.This study demonstrates a new method for linking longitudinal retail price data with objective, nutrient-based ratings of the nutritional quality of foods and beverages. Retail prices for 378 foods and beverages were obtained from major supermarket chains in the Seattle, WA for 2004–2008. Nutritional quality was based on energy density (kcal/g) and two measures of nutrient density, calculated using the Naturally Nutrient Rich (NNR) score and the Nutrient Rich Foods index (NRF_9.3). Food prices were expressed as $/100 g edible portion and as $/1000 kcal. Foods were stratified by quintiles of energy and nutrient density for analyses.Both measures of nutrient density were negatively associated with energy density and positively associated with cost per 1000 kcal. The mean cost of foods in the top quintile of nutrient density was $27.20/1000 kcal and the 4-year price increase was 29.2%. Foods in the bottom quintile cost a mean of $3.32/1000 kcal and the 4-year price increase was 16.1%.There is a growing price disparity between nutrient-dense foods and less nutritious options. Cost may pose a barrier to the adoption of healthier diets and so limit the impact of dietary guidance. Nutrient profiling methods provide objective criteria for tracking retail prices of foods in relation to their nutritional quality and for guiding food and nutrition policy.     

Broad‐based Agricultural Development versus Food Self‐sufficiency: A General Equilibrium Analysis in India

Intersectoral linkages are analysed using a CGE model based on a SAM constructed from Indian national accounts data for 1988–89. The model includes the rural non‐farm sector, public sector production and aspects of public policy. Evidence supports the arguments of Chakravarty (1987) and Ahluwalia (1986) regarding the importance of broad‐based agricultural development as opposed to increased production in the food sector alone aimed at achieving food self‐sufficiency.