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“Economic capital (EC) is in – Value at Risk (VaR) is out!” This statement by James Lam, well known to be the first Chief Risk Officer (CRO) worldwide, at the April 2004 Enterprise Risk Management (ERM) Symposium in Chicago, caused quite a reaction by the attendees. What is EC? Why are banks and insurance companies focused on calculating EC? What are the differences between EC and regulatory or rating agency capital? What are rating agencies’ views towards EC? This paper, summarising a panel on this topic, which was held at the ERM Symposium in Chicago in April of this year, attempts to answer these questions, focusing on the application of EC to life insurance companies.

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

Purpose — The purpose of the chapter is to make retrospective data from biographic surveys comparable with traditional cross-section travel surveys, by correcting some biases attached to the biographic collection method. This is applied to a biographic survey passed in France within the 2007–2008 national travel survey.

Methodology/approach — The methodology implemented deals with three specific biases: the general survey sampling and response rate, the survival bias, due to differential surviving rates according to generations, and the geographical bias, as biog‘raphies were not passed in all regions. All biases were corrected by computing specific weightings.

Findings — One main finding is that with these three corrections, biographic data can yield modal shares for commuting trips to work and for commuting trips to education that are similar to those derived from the historical cross-section surveys about regular trips.

Research limitations/implications — Though biographic collection suffers from the memory effect, this effect remains low and does not disturb the modal shares derived from biographies.

The most challenging issue is that of missing generations that contributed to past mobility. But they can be replaced by modeling with an age-period model.

Practical implications — The chapter provides methodology to correct biographic data to reconstitute historical behavior.

Social implications — Exploring the memory of living people is essential to save data about the past, that otherwise could be lost, although they may be useful to understand present behavior and future likely trends.

Originality/value of chapter — Investigating biographic surveys is a new topic in the field of transport survey methods.

The development of a K-12 computer science curriculum based on constructivist principles needs to be informed by knowledge of content and process concepts that are central to the discipline of computer science. The paper aims to discuss this issue.

Taking a cross-cultural approach and using an experimental design (a SPF-2•15×16 split-plot design), this study compares the combinations of content and process concepts identified as important in Germany with those considered relevant in the US context.

First, the combinations of content and process concepts identified in the German context can be generalized to the US context. Second, it is possible to identify combinations of content and process concepts in the US context that are also important in the German context. Third, content and process concepts identified in the two contexts can be integrated to generate a broader perspective that is valid for both contexts.

The results can be used for consolidating available curricular drafts for computer science as a teaching subject at school of the type available in many. The present findings are of great relevance for research-based approaches to the pre- and in-service education of computer science teachers. The methodological approach taken is important in efforts to consolidate curricular models of computer science education, as have been initiated by the Bologna process in Europe and by the organizations Association for Computing Machinery, Association for Information Systems, and Institute of Electrical and Electronic Engineers-Computer Society in the USA.

Results show that competence areas of central concepts identified in the two contexts can be integrated to generate a broader perspective that is valid for both contexts.

I trace and explain how the ratcheting of corporate mergers and deregulation transformed the structure of elite relations in the United States from 1960 to 2010. Prior to the 1970s there was a high degree of elite unity and consensus, enforced by Federal regulation and molded by structure of U.S. government, around a set of policies and practices: interventionism abroad, progressive tax rates, heavy state investment in infrastructure and education, and a rising level of social spending. I find that economic decline, the loss of geopolitical hegemony, and mobilization from the left and right are unable to account for the specific policies that both Democratic and Republican Administrations furthered since the 1970s or for the uneven decline in state capacity that were intended and unintended consequences of the post-1960s political realignment and policy changes. Instead, the realignment and restructuring of elites and classes that first transformed politics and degraded government in the 1970s in turn made possible further shifts in the capacities of American political actors in both the state and civil society. I explain how that process operated and how it produced specific policy outcomes and created new limits on mass political mobilization while creating opportunities for autarkic elites to appropriate state powers and resources for themselves.

In this paper an analysis is offered of the history and, more briefly, present situation, of an Anabaptist movement as it manifested itself in the form of the French Anabaptist Mennonite Assemblies. The paper is divided into a consideration of political, legal, economic and social aspects of French Mennonitism on the one hand, and of religious and ethical aspects on the other.

Prior studies provide mixed evidence on the association of board busyness and firm productivity. Thus, this paper empirically analyzes how board busyness affects firm productivity.

To measure board busyness, this paper computes the percentage of directors on a board who sit on three or more boards. Furthermore, to calculate firm productivity, the paper employs data envelopment analysis.

Findings demonstrate that the association of board busyness and firm productivity (association) is generally negative and statistically significant but economically insignificant. In this respect, the findings reveal that the association is negative (positive) and both statistically and economically significant for firms having higher monitoring (advising) needs. Moreover, the findings demonstrate that regulatory oversight (1) weakens the general negative association; (2) changes the direction of association from negative to positive, for firms having higher monitoring needs; and (3) does not influence the association, for firms having higher advising needs.

Taken together, the findings indicate that the association of board busyness and firm productivity is conditional to monitoring/advising needs and regulatory oversight. As such, the findings enrich the current debates on the association. Furthermore, the findings offer novel perspectives to enrich the regulatory frameworks of countries which are constraining multiple directorships.

This study aims examine to what extent four variable categories of individual ethical ideology, organizational ethical culture, superior's ethical quality and job satisfaction (JS) are causally linked to personal (un)ethical behaviors among South Korean police officers.

With a stratified sampling technique, 687 surveys were collected from 16 major local police headquarters across the nation. The reliability and validity of the variables were checked. The structural equation modeling (SEM) is used to test the hypotheses.

Idealism, principlism, utilitarianism and JS have a negative influence on unethical behaviors, whereas superior's unethical standards are positively associated with unethical behaviors.

The findings can be applied as a reference to improve ethical framework to promote behaviors by enriching the higher level of personal ethical ideology, superior's ethical quality and principlism and utilitarianism by adding an ethics training course to the continuing education program for all officers and developing further education programs for police leadership to raise ethical awareness and quality.

To the authors' knowledge, the study is among the first studies with four comprehensive categories of relevant variables and adds understanding to (un)ethical behaviors of police officers.