Minority membership on boards of directors: the case for requiring pictures of boards in annual reports

Affirmative action and diversity continue to be contentious issues in the United States. Financial markets are still reeling from the effects of Enron, WorldCom and other corporate exemplars of corruption and malfeasance. The role of the board of directors in these scandals is the subject of serious and ongoing concern. Weak and/or ineffectual boards are often the consequences of “old-boy networks” and a lack of diversity in membership. This research study argues for an increased presence of gender and race diversity on boards of directors. Empirical evidence is presented that shows a significant increase in the presence of ethnic minorities and females when pictures of board members are included in annual reports. We suggest that requiring pictures of board members in annual reports and regulatory filings would result in a larger presence for gender and race diversity on boards of directors. This requirement is not a significant burden and merely represents compliance with the spirit and intent of the “full disclosure” principle.     

Women as philanthropists: Leading the transformation of fundraising

This paper provides an overview of women's motivations and potential as philanthropists. It includes demographic information that can help fundraisers approach and communicate with women of different generations and life stages. The conclusions are based on qualitative research conducted by the author and others. It explores some of the barriers to women's giving and offers specific recommendations for involving more women as donors. Finally, it explains how women as donors will help transform the fundraising profession and prepare nonprofit institutions for a changed funding environment in the future.     

LA LONGUE MARCHE VERS UN COMPTE SATELLITE DE L'ECONOMIE SOCIALE: UN BILAN A PARTIR DE L'EXPERIENCE FRANÇAISE

RESUME:  Après une présentation sommaire de l'histoire de l'économie sociale en France, l' article retrace l'origine du projet de compte satellite de l'économie sociale. Il montre ensuite que les coopératives, mutuelles, associations et fondations sont invisibles dans le cadre central les comptes nationaux. Dans un second temps, il se focalise sur le compte satellite des Institutions Sans But Lucratif préconisé par un Manuel des Nations unies, dont il présente la méthodologie adaptée à la France et les principaux résultats. La conclusion insiste sur la réflexion et les sources nouvelles nécessaires pour terminer un compte de l'économie sociale.     

Savings and investment rates in Latin America: An error correction analysis

Using savings and investment rates from fifteen Latin and Central American countries, this study explores the possibility of a long-run relationship between saving and investment. The analysis consists of regressions unit root tests, and an error correction model developed by Jansen and Schulze (1996) and Jansen (1996). Of the 15 countries, there is evidence to substantiate capital mobility in 13 countries. For Chile and Uruguay, countries that have experienced considerable capital controls, evidence indicates the lack of capital mobility for these two countries.