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The purpose of this paper is to develop methods for inferring if crop insurance premiums imply yield distributions that are valid according to standard laws of probability and broadly consistent with observed empirical evidence. The authors also survey current premium-implied distributions both before and after conditioning on the producer’s choice of coverage level.

Under an assumption of actuarial fairness, the authors derive expressions for upper and lower bounds for premium-implied yield cumulative distribution functions (CDFs) at loss thresholds for each coverage level. When observed premiums imply a CDF that exceeds one or is not non-decreasing, the authors conclude that premiums cannot be actuarially fair. The authors additionally specify very weak conditions for premium-implied yield CDFs to be consistent with two possible reasonable parametric distributions.

The authors evaluate premiums for the year 2018 for 19,104 county-crop-type-practice combinations, both before and after conditioning on producer’s choice of coverage level. The authors find problems in roughly one-third of cases. Problems are exhibited for all crops evaluated, and are strongly associated with areas with lower expected yields and higher yield variability. At least 40m acres are currently insured under premium schedules that cannot possibly be consistent with valid probability distributions.

The authors make two primary contributions. First, the premium-implied yield CDF bounds the authors derive requires fewer assumptions than previous similar work, while simultaneously placing more stringent conditions on premiums to be consistent with actuarial fairness. Second, the authors show that current US crop insurance premiums cannot possibly be actuarially fair for many cases, reflecting tens of millions of insured acres, which implies sub-optimal producer risk mitigation and inequitable expenditures for producers and taxpayers.

The purpose of this paper is to evaluate the Dual Use (DU) Option – a crop insurance policy created by the 2018 Farm Bill – relative to other policies available to dual-purpose annual forage producers. The new policy combines existing rainfall-based policies for annual forage crops and multi-peril policies for grain, allowing coverage for multiple crop uses on the same acres during the same growing season.

The paper uses a simulation model to examine crop insurance choices for a typical Texas dual-purpose wheat farm. The certainty equivalent (CE) of wealth is used to rank choices within and between three insurance plans and to analyze the effects of those choices over a range of producer risk aversion levels and for three cases of yield expectations.

The DU Option is more preferred as risk aversion increases, but it is not universally preferred. Therefore, while the policy can be a viable risk management tool, certain restrictions may be limiting its effectiveness.

The findings of this paper can help explain farm-level decision making related to dual-purpose annual forage crop insurance program choices.

This paper contributes to the literature by documenting a new crop insurance program made available in the 2018 Farm Bill and provides insights into producers' possible choices by evaluating extensive scenarios.

The purpose of this paper is to examine analyst followings of firms starting from one year prior to their filing for Chapter 11 and as the firms progress through bankruptcy proceedings with a focus on firms receiving “Hold” or better recommendations. The authors attempt to answer questions such as what the common characteristics of the firms receiving stronger than expected recommendations one year prior to filing for bankruptcy reorganization or while in bankruptcy are, and how the market reacts to the issuance of stronger ratings for those firms.

The authors design various regressions and apply them to a total of 2,754 sell-side analyst recommendations and 325 firms that are either approaching bankruptcy filing or in the process of reorganizing. In each analysis, the authors control for several firm and performance characteristics.

The authors find that the probability of securing stronger ratings is higher for small firms and for those followed by a greater number of analysts than for large firms and firms followed by fewer analysts. The market becomes more skeptical of optimistic evaluations closer to the date of bankruptcy filing (perhaps reflecting some anticipation) and reacts more positively to rating upgrades issued during bankruptcy protection than to the upgrades issued before the bankruptcy filing.

The conclusions are based on the analysis of analyst recommendations issued shortly before Chapter 11 filings and during bankruptcy proceedings. The conclusions could be strengthened by further analysis of firms’ post-bankruptcy recovery and performance and examination of analyst recommendations issued for the firms after they emerge from Chapter 11..

Analyst security ratings that are more positive than expected are perhaps the result of superior expertise and access to private information. During bankruptcy proceedings, when information disclosure is limited, investors could greatly benefit from reports issued by security analysts.

This study contributes to the literature in a number of ways. First, the authors contribute to the literature on the analyst ratings of firms in distress by considering the period between bankruptcy filing and emergence, while the existing literature provides analysis of pre-bankruptcy recommendations and forecasts. Second, the authors focus on better than expected ratings rather than all types of ratings as the firms approach bankruptcy filings and proceed through reorganization. Finally, they evaluate how investors react to stronger than expected analyst ratings.

While many studies investigate student leadership development in educational contexts or curriculum-based programs, little is known about the efficacy of leadership development programs that emerge in municipalities. This mixed methods case study explored the leadership development of participants in three nine-month youth leadership programs at a municipal-based prevention, treatment, and outreach center in the United States. Qualitative focus groups and quantitative surveys using the Student Leadership Practices Inventory (SLPI) were used to collect data at the beginning and end of the three programs along with a post-program evaluative survey. Findings from the qualitative and quantitative analyses are first presented individually and then expressed using a joint display table to visually represent the integrated results. Findings showed that the programs positively influenced participants’ perceptions, characteristics, and behaviors as youth leaders in their communities. Participants not only indicated improvements in their leadership practices according to the SLPI from pre- to post-program, but also demonstrated more complex understandings of leadership and what it means to be a leader in one’s community. These findings are useful for individuals and organizations planning student leadership development programs and should inform future research in the field.

Discussions about conflict at work generally tend to revolve around examples of overt industrial action, taken against an employer by a group of well‐organised employees. As the service sector becomes increasingly prominent within the UK, this model is no longer adequate – if it ever was – since much action is covert and individualistic in nature. Moreover, managers themselves may also engage in activities designed to defy or subvert central policy initiatives. This monograph is concerned with an analysis of such activities in a night‐club environment, and is based on six years research during which one of the authors worked as an employee for a large service sector organisation. It illustrates graphically the way in which employees resisted management instructions, or sought to “get even” with individuals who had alienated them. The implications which this research suggests for improving systems of management in an environment such as this are assessed.

This paper considers the implications of mass communications theory on public relations (PR) evaluation and briefly reviews mass communication effects, persuasion, and cognition, attitude and behaviour change theories. The implications for evaluation are then examined. Reliance on domino models is shown to be too simplistic. It is suggested that claims of PR behavioural effects may be unrealistic and it is argued that more moderate and/or alternative goals are needed if preordained failure is to be avoided. Evaluation results must be interpreted cautiously so that further significance that is not supported by theory is not assumed. This paper shows how the concept of PR evaluation could be widened to include formative evaluation and broad environmental monitoring, which are especially important in identifying and understanding why and how communication works, what its effects are, what factors restrict or facilitate effectiveness and under what conditions success can be maximised.

Graphic novels can contribute to effective content area reading on social studies topics such as the American Revolution. This action research study’s purpose was to examine student recall of facts, enjoyment of reading, and interest in the topic when using graphic novels as compared to illustrated nonfiction prose in social studies content area reading. Twenty-two fifth grade students (13 females, 9 males) in a public school in a Midwestern state participated in the study. Half of the students read about the Boston Massacre and Patrick Henry through graphic novels and read about Paul Revere and the Boston Tea Party with illustrated nonfiction texts, with the other half doing the opposite. The mean number of correct ideas recalled by students two weeks after reading two books in the graphic novel condition was 8.6 compared to 7.1 for the nonfiction prose condition with a medium effect size. Students rated their reading enjoyment significantly higher in the graphic novel condition indicating that graphic novels should be employed more often into the school curriculum. Suggestions for integrating graphic novels into the curriculum are provided along with other ways to take action.

A major shift has occurred since the 1970s in the way newspapers do business, largely due to the impact of marketing research on newsroom decisions. Research used to identify and meet the needs of the newspaper‐reading public has become a way of doing business in an increasingly competitive media climate. This national survey of executive and managing editors randomly selected from the Editor and Publisher Yearbook tracks the trend in the USA of creating special sections to meet readers’ interests as identified through marketing and focus group research. It also found that the newsroom staff was responsible for the production of these sections. Previous research has focused on the evolution of marketing practices in newsrooms. This research statistically documented these practices as a national trend.

The purpose of this paper is to highlight the core tenets of social marketing communications in managing acute infectious disease outbreaks based on a historical review of two major pandemics in South Korea.

Two researchers reviewed newspapers, journal papers, archived documents and other historical materials to examine social marketing communications used in both Spanish flu and COVID-19 pandemics by South Koreans.

Despite two events being a century apart and the social context of two eras being starkly different, behavioral recommendations for both pandemics were nearly identical. Two major lessons arose from the review. First, a full disclosure of the pandemic-related information is important. Second, proper management of conflicting information is highly desired as an integral part of pandemic social marketing communication campaigns.

Understanding the importance of social marketing in raising public awareness, this paper provides a historical comparison between the 1918–1919 Spanish flu and COVID-19, focusing on the social communications used during these two pandemics. The paper contributes to the health marketing literature as well as to practice by drawing implications relevant to social marketing communication used in disease pandemics.