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The purpose of this paper is to define “beneficence” as a management concept that is the action associated with “benevolence” the intention. This paper explains how beneficence is a critical element for leaders in building trust. The authors identify how beneficence honors the ethical duties owed to followers and creates competitive advantage for organizations.

The approach of this paper is to present an extensive conceptual review of beneficence as it relates to leaders and managers and to suggest eight propositions identifying how beneficence can create competitive advantage.

The findings of this paper include eight propositions about beneficence as a source of competitive advantage.

The practical implications of this paper are for practitioners and scholars. This paper provides an opportunity for leaders to recognize the importance of translating good intentions into specific action in acting virtuously toward others. For scholars, this paper provides testable propositions for learning more about beneficence as a source of increased commitment, greater trust, and competitive advantage.

Although benevolence has been acknowledged to be a foundation of trustworthiness, benevolence is an attitude or intention. This paper explains the importance of beneficence as the action derived from benevolence as an attitude or intention to do that which benefits others.

Mounting primary full text information into an online database requires journal text be segmented into the proper fields and indexed. The American Chemical Society keyboards its primary research journals for publication directly into a publishing database with all of the fields identified. Using this database, photocomposition software inserts the appropriate typesetting codes based on data type to produce the printed journals. Database building routines use this same resource to create an online full text file that allows for search and display of text based on data type. This dual purpose of the initial keyboarding step affords substantial savings in using the journal information for multiple purposes in electronic publishing. Many publishers of scholarly journal information, however, keyboard their journals with the primary intent of composition for publication in hard copy form. In order to mount these journals into a full text database, their computer composition files must be preprocessed to identify the field elements (authors, text, tables, figures, references, and so on), sentences, paragraphs, and special characters not included in the standard ASCII character set. This paper contains a description of the use of a generalized markup format for primary information that facilitates its conversion into an online full text database or other media for electronic publishing.

The purpose of this paper is to review the most recent scientific literature on the determinants explaining the demand for index-insurance, the impact of index-insurance and the existing links between insurance and credit. In this meta-analysis, the authors identify key discoveries on the potential of index-insurance in enhancing credit supply for smallholders and thus farm productivity.

Following a systematic literature search in Scopus and Web of Science, relevant empirical articles were identified by using the following criteria search algorithm: “insurance” and (“weather” or “micro” or “area?based” or “rain*” or “livestock” or “index”), and ((“empiric*” or “experiment” or “trial” or “RCT” or “impact”) or (“credit” or “loan*” or “debt” or “finance”)). The authors identified 1,133 related papers, 110 of which were selected as closely matching the study criteria. After removing duplicates and analysing each document, 45 papers were included in the current analysis. The framework for addressing insurance and credit issues, in the paper, entails three subsequent themes, namely, adoption of insurance, impact of insurance and links between insurance and credit.

It is not confirmed yet that demand for insurance is indeed hump-shaped in risk aversion and the functional form of this relationship should be tested in more detail. This also holds for the magnitude of the effect of trust and education on actual demand. Furthermore, it is unclear to what extent other risk mitigation strategies form complements or substitutes to index-insurance. Lastly, the interaction between basis risk and price is important to the design of index-insurance products. If basis risk and price elasticity are indeed highly correlated, products that diminish basis risk are crucial in increasing demand. On the impact of bundled products, e.g. combination of insurance and credit, limited empirical research has been conducted. For example, it is unknown to what extent credit suppliers would react to the insured status of farmers or what the preferences of farmers are when it comes to a mix of financial products. In addition, several researchers have suggested that microfinance institutions or banks could insure themselves against covariate risk, yet no empirical evidence about this insurance mechanism has been conducted so far.

The authors based the research on scientific literature uploaded in Scopus and Web of Science. Other potentially insightful grey literature was not included due to lack of accessibility. Given the research findings, there is plenty of opportunity for further research particularly with regard to the effects of bundled products, e.g. insurance plus credit, on demand for index-insurance, supply of credit, loan conditions and impact on farm productivity and farmers’ well-being.

Microfinance institutions, insurance companies, NGOs, research institutions and universities, particularly in developing countries, will be interested to learn about the systematic review of scientific research done in the area of insurance and credit for agriculture and the possibilities for application in their own practice of supplying these financial products.

A rigorous understanding of the potential of index-insurance and credit is essential for identifying the right mix of financial products that help smallholder farmers to increase farm productivity and their own well-being.

The paper is valuable due to its rigorous evaluation of existing theoretical and empirical research around issues explaining the degree of adoption and impact of index-insurance and that of bundled financial products (i.e. index-insurance plus credit). The paper has the potential to become essential reading for academics, practitioners and policy-makers interested in researching and putting in practice the best options leading to greater farm productivity and well-being in developing countries.

The purpose of this paper is to evaluate behavioural changes and operational outcomes resulting from a Master’s programme on improvement knowledge and leadership in the Swedish welfare sector. The welfare sector is the collective term for tax-funded services the state, county councils and municipalities are responsible to provide.

A survey combined open-ended and closed questions using a five-point Likert scale. The questions were based on the learning objectives of the Master’s programme. The survey was sent to 139 graduates and achieved a response rate of 41 per cent (57 respondents). Responses were entered into a survey programme to enable the descriptive presentation of data; open-ended responses were analysed using conventional content analysis.

Respondents reported their increased knowledge and changed behaviours had impacted operational outcomes, e.g. processes efficiency, compliance with guidelines and quality. They said the programme was of value to themselves and society but requested more leadership knowledge. All respondents recommended the programme to others.

By operationalizing the Kirkpatrick framework, the paper describes outcomes on levels three and four, and the use of numerous best practice techniques for adult learning. This is valuable knowledge for organisers of improvement knowledge educations.

The purpose of this paper is to introduce a continuous time version of the speculative storage model of Deaton and Laroque (1992) and to use for pricing derivatives, in particular insurances on agricultural prices.

The methodology of financial engineering is used in order to find the partial differential equations that the dynamics of derivative prices have to satisfy. Furthermore, by using the Monte-Carlo method (and Feynman-Kac theorem) the insurance prices is computed.

Results of this paper show that insurance prices (and derivative prices in general) are heavily influenced by market structure, in particular, the demand function specifications. Furthermore, through an empirical analysis, the performance of the continuous time speculative storage model is compared with the geometric Brownian motion model. It is shown that the speculative storage model outperforms the actual data.

Since the agricultural insurances in many countries are subsidised by government, the results of this paper can be used by policy makers to measure changes in agricultural insurance premiums in scenarios that market experiences changes in demand. In the same manner, insurance companies and investors can use the results of this paper to better price agricultural derivatives.

The issue of agricultural insurance pricing (in general derivative pricing) is of great concern to policy makers, investors and insurance companies. To the author’s knowledge, an approach which uses the methodology of financial engineering to compute the insurance prices (in general derivatives) is new within the literature.