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Reviews previous research on predicting financial distress and the effects of US Chapter 11 bankruptcy (C11B); and explains how survival analysis and Cox’s (1972) proportional hazards model can be used to estimate the financial outcome for the shareholders of C11B. Reduces a previous data set (Russel et al 1999) of 154 companies entering C11B between 1984 and 1993 to 59 (54 of which gave no value to shareholders) and estimates two models to predict this: one based on firm‐specific covariates only and the other adding market‐wide covariates. Explains the methodology, presents the results and uses receiver operating characteristic curves to compare the predictive accuracy of the two. Finds little difference between the and suggests using the simpler model. Briefly summarizes the variables which are most useful in predicting the value outcomes of C11B for shareholders and recognizes the limitations of the study.

Drought-related climate risk and access to credit are among the major risks to agricultural productivity for smallholder farmers in Kenya. Farmers are usually credit-constrained due to either involuntary quantity rationing or voluntary risk rationing. By exploiting randomized distribution of weather risk-contingent credit (RCC) and traditional credit, the authors estimate the causal effect of bundling weather index insurance to credit on uptake of agricultural credits among rural smallholders in Eastern Kenya. Further, the authors assess farmers' credit rationing, its determinants and effects on credit uptake.

The study design was a randomized controlled trial (RCT) conducted in Machakos County, Kenya. 1,170 sample households were randomly assigned to one of three research groups, namely control, RCC and traditional credit. This paper is based on baseline household survey data and the first phase of loan implementation data.

The authors find that 48% of the households were price-rationed, 41% were risk-rationed and 11% were quantity-rationed. The average credit uptake rate was 33% with the uptake of bundled credit being significantly higher than that of traditional credit. Risk rationing seems to influence the credit uptake negatively, whereas premium subsidies do not have any significant association with credit uptake. Among the socio-economic variables, training attendance, crop production being the main household head occupation, expenditure on food, maize labour requirement, hired labour, livestock revenue and access to credit are found to influence the credit uptake positively, whereas the expenditure on non-food items is negatively related with credit uptake.

The study findings provide important insights on the factors of credit demand. Empirical results suggest that risk rationing is pervasive and discourages farmers to take up credit. The study results also imply that credit demand is inelastic although relatively small sample size for RCC premium subsidy groups may be a limiting factor to the authors’ estimation.

By implementing a multi-arm RCT, the authors estimate the factors affecting the uptake of insurance bundled agricultural credits along with eliciting credit rationing among rural smallholders in Eastern Kenya. This paper provides key empirical findings on the uptake of RCC and the effect of credit rationing on uptake of agricultural credits, a field which has been majorly theoretical.

In the context of the Indian subcontinent, aims to examine the suitability of using microfinance for natural disaster risk reduction at the household and community level, and also of delivering it in the wake of a natural disaster.

Explains microfinance strategies comprising: diversifying income source; designing new loan products; risk management; sustainability of microfinance institutions post‐disaster; liquidity management post‐disaster, etc.

States that microfinance should be recognized as one of a series of measures within a disaster risk management strategy. Along with eco‐friendly farming it can help overcome poverty in developing countries.

Probably the first real attempt to explore the importance of microfinance interventions in natural disasters both at the personal level and generally.

The purpose of this paper is to review research on weather index insurance (WII) for mitigating the weather risk in agriculture and to identify research gaps in current available literature through integrative review.

This paper is based on the integrative review method as proposed by Whittemore and Knafl. QualSysts tool was adopted for assessing the quality appraisal of articles. Reporting followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines.

Detailed critical analysis of content reveals that WII studies are growing and shifting from traditional to the newest themes. Efficacy of WII is significantly influenced by the impacts of climate change. This paper generates a conceptual framework by synthesizing the published literature on WII.

This paper will be used to improve the WII practices and influence public policy. It is also beneficial in research by contributing to the systematic body of knowledge and useful for researchers to analyze the past and present status with future prospects of further studies on WII.

The paper is the original work of the author. To the best of authors’ knowledge, this is the first paper on integrative review on the efficacy of WII. An attempt has been made in the current paper to critically examine the studies of WII.

Prior research suggests that 80% of cardiovascular disease (CVD) events can be prevented by modifying certain behaviors, yet it remains the primary cause of mortality worldwide. Early detection and management of critical modifiable factors have the potential to improve cardiovascular care quality as well as the associated health outcomes. This study aims to assess the independent impact of psychological well-being in adolescence, a modifiable factor, on long-term CVD risk and promote targeted early interventions through quality management principles.

Data from the Add Health study, which employed a series of surveys and health tests (Wave 1 – Wave 4) on individuals for 14 years (from adolescence to adulthood), were obtained and analyzed longitudinally. Psychological well-being in adolescence was assessed using four Wave 1 survey questions, and 30-year CVD risk was estimated 14 years later with Wave 4 data. Three different logistic regression models were examined to understand the impact of adding covariates.

This study’s sample included 12,116 individuals who responded to all the relevant questions and underwent clinical risk factor measurements in Wave 1 (adolescence) and Wave 4 (young adulthood). Psychological well-being was protective with reduced risk for CVD across the three models tested. There is a statistically significant association, where increasing psychological well-being reduced the 30-year CVD risk exponentially in all the models. The analysis also suggested an exposure–response relationship, where the 30-year risk category of adulthood CVD decreased with an increase in psychological well-being.

This research uncovers an inverse association between adolescent psychological well-being and adulthood CVD risk. This study also identifies quality management-based preventive tools/techniques to improve psychological well-being in adolescence and therefore reduce CVD risk later in life.

This study is among the first to establish a long-term association between positive well-being and CVD risk. Also, unlike the existing literature, this work provides implications for improving CVD care from a quality management perspective.

Resilience as a novel concept has attracted the most attention in the management of engineering systems. The main goal of engineering systems is production assurance and increasing customer satisfaction which depends on the suitable performance of mechanical equipment. “A resilient system is defined as a system that is resistant to disruption and failures and can recover itself and returns to the state before failure as soon as possible in the case of failure.” Estimate the value of the system’s resilience to increase its resilience by covering the weakness in the resilience indexes of the system.

In this article, a suitable approach to estimating resilience in complex engineering systems management in the field of mining has been presented. Accordingly, indexes of reliability, maintainability, supportability, efficiency index of prognostics and health management of the system, and ultimately the organization resilience index, have been used to evaluate the system resilience.

The results of applying this approach indicate the value of 80% resilience if the risk factor is considered and 98% if the mentioned factors are ignored. Also, the value of 58% resilience of this organization’s management group indicates the weakness of situational awareness and weakness in the vulnerable points of the organization.

To evaluate the resilience in this article, five indicators of reliability, maintainability, and supportability are used as performance indicators. Also, organization resilience and the prognostic and health management of the system (PHM) are used as management indicators. To achieve more favorable results, the environmental and operational variables governing the system have been used in performance indicators, and expert experts' opinions have been used in management indicators.

The purpose of this paper is to verify if adult education can contribute to social mobility by analysing how the socioeconomic and professional background of the students affects dropout and graduation hazards in higher education.

An event history analysis approach, with competing risks and discrete time, implemented under a multinomial logit model, is used to investigate how an extensive set of covariates affects the risk of graduation, dropout and persistence of 834 adult student workers from a higher education institution in Portugal.

Adult education may indeed be effective in promoting social mobility, as academic achievement is higher for student workers that have low educated parents and low income levels. Also, the probability of achieving graduation seems to be higher for those seeking for higher transformation.

Adult education should be encouraged as it generates both efficiency and equity benefits. Some policy recommendations are suggested for the higher education system to adapt better to the particular characteristics of adult workers and provide conditions to improve the job–study–family conciliation, namely, by adjusting the schedule and composition of classes, appreciating the curriculum and providing orientation to candidates, and introducing shorter/simplified versions of the degrees.

A separate treatment is given to adult student workers, whose characteristics are very particular, enriching the literature on academic achievement that has been focussed on traditional students. Additionally, the studied data set merges five sources and provides extensive and original information on personal, degree and employment variables of the students.

This paper seeks to investigate which factors influence user attitudes toward different levels of security measures for protecting data of differing importance. The paper also examines user characteristics including IT proficiency and risk propensity, which give rise to individual differences in such attitudes.

To capture user attitudes toward a security measure, a construct called “information security readiness” (ISR) and its corresponding measurement items were developed. Observations were collected from a laboratory experiment based on a 2×3 factorial design, with data criticality and security level as the treatment variables. The participants were undergraduate students of a major American university. The moderating effect of data criticality on the relationship between security level and ISR was tested with multi‐group structural equation modeling. In addition to the treatment variables, IT proficiency and risk propensity were included as covariates in the analysis.

The results revealed a nonlinear relationship between security level and ISR. For data of high criticality, enhancing security level had a positive impact on ISR, but only up to the point perceived as appropriate by the participants. For data of low criticality, the enhancement of security level was perceived as unnecessary. In addition, IT proficiency was found to be a significant covariate, especially when data criticality was high.

In practice, the specification of a security measure requires a trade‐off between the utility of the data protected and the usability of the security method. The measure of ISR provides a means to locate the equilibrium by examining user attitudes across different security levels in relation to a particular level of data criticality. The significance of IT proficiency demonstrates the importance of user training.

This study introduces the ISR construct to capture evaluation, power, and activity dimensions underlying an individual's cognitive beliefs, affective responses, and behavioral inclinations toward the adoption of security measures. The results provide interesting insights into the role of interaction between security level and data criticality in influencing ISR.

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 aim of this paper is the discussion and the dissemination of initiatives promoted by the Lombardy region for the construction of benchmarking systems between regional health structures of care utilizing administrative archives.

The paper focuses on relative effectiveness (specific effect of care on patients) in a benchmarking framework, considering the dimension of sentinel outcomes. From Lombardy Hospital Discharge Cards proxies of sentinel outcomes are identified, defined as “context indicators” useful for a benchmarking analysis.

First, the authors present outcomes and covariates at different levels (patient and healthcare structure) extracted from the Lombardy Hospital Discharge Cards for a benchmarking analysis. Second, empirical results show a consistent quota of outcome variability between structures of care and weak agreement between estimated rankings for context indicators. Finally, a slicing approach is suggested in order to apply an equitable comparison among healthcare structures.

The paper provides regional stakeholders with practical implications regarding available strategies (outcomes, statistical methodology, risk adjustment) for consistent processes of evaluation, in a benchmarking framework, based on existing regional administrative data.

After having presented available information contained in regional archives for a benchmark analysis, empirical results were discussed about context indicators, presenting indications and strategies for a refinement of the approach. From a methodological point of view, the utilization of multilevel models (improving methodological strategies adopted by international agencies) in large administrative databases is proposed.