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Finance textbooks typically state that 8 to 20 stocks can provide adequate diversification for a portfolio. However, these recommendations usually assume a short time horizon such as one year. We examine 20‐year cumulative rates of return and ending wealth from an initial $100,000 investment allocated among 100 large U.S. stocks. Probability distributions obtained from simulations illustrate the shortfall risk faced by investors who own fewer titan 100 stocks. Five percent of the 20‐stock portfolios have ending wealth shortfalls exceeding 28%. These findings suggest that 8 to 20 stocks may be insufficient for long‐term investors.

After the end of the Napoleonic War, few issues of public policy dominated discussions in England as fervently as the issue of currency and the national debt. A time of civil unrest and social radicalisation, the circulation of ideas and pamphlets was prolific. The difficulties of post-war reconstruction sparked a long debate on issues of monetary reform and repayment of the national debt. The growth of national debt increased the size of the financial market and had important consequences for a changing class dynamic in domestic political affairs. The distributional aspects of the conflict were present, as was the satirical mockery of mishandling of public affairs. In much of the subsequent scholarship the organisation of taxation and expenditure, and the financial system and the issue of currency have been analysed as separate. This chapter brings them together. In particular, it focuses on Ricardo’s monetary thought and his views on public finance and contextualises them in light of his contemporaries.

Appraises the scope for cost‐effective government intervention into the mobilization of resources for training, examining measures catalytic in nature as well as direct interventions. Asserts that economic recession and shrinking government revenues have led to a reconsideration of the role played by the state in training provision and to a growing acknowledgement and appreciation of the role of the private sector. Suggests that although the documentation is incomplete, the government is, and has always been, the junior partner. Discusses how training is financed by the private sector. Analyses situations where privately financed training provision may be sub‐optimal in scale and where there are grounds for government intervention. Addresses the issues of how best to provide financial incentives and mobilize the resources required for financial intervention.

Dependence on foreign energy supplies have resulted in some islands successfully harnessing alternative and renewable energy (RE) sources in order to provide a small degree of self-sufficiency. However, the development of Trinidad and Tobago's (T&T's) RE industry has stagnated largely due to the existence of substantial energy subsidies, which present cheap fuel and electricity prices thus providing a disincentive to RE investment. The purpose of this paper is to seek to re-enforce the necessity for an indissoluble government intervention in the establishment of well-designed, coordinated and innovative public-private partnerships for a successful RE industry in T&T.

This paper is based on a review of relevant social and economic literary sources; the research topic has been meticulously investigated.

Initial outcomes indicate that the principal facilitators of RE proliferation in the Caribbean, and more so T&T, will require: gradual reduction of the energy subsidy; declining project costs via fiscal incentives and grant financing; expectation of beneficial rates of return on investment through the guarantee of optimal prices for renewable electricity or the revenue gained from the sale of carbon credits; and capacity building, institutional strengthening and implementation of appropriate legislative and regulatory instruments which provide open access to the national grid.

With the exception of T&T, Caribbean nations are heavily dependent on oil and gas imports to meet their primary energy requirements. The investigation conducted has limited documentation on cases of a similar nature within the region. The outcome of the steps identified above are based on conjecture using information gained from international situations.

The study helps clarify the crucial role of T&T's government in the successful development of the RE industry. Resources and earnings should be used to develop T&T's infant RE industry and hence reduce the carbon footprint of the nation.

Past attempts by the government to promote RE an energy efficiency in T&T have been passive and prevaricated. In addition to outlining the existing fiscal initiatives available to the population, this paper provides short-, medium- and long-term recommendations for the sustainability of RE in T&T. While subsidy reform, among others, poses a challenge it is nonetheless imperative if T&T is to move forward. With the abundance of solar, wind and waste-to-energy resources there is great potential for a successful RE industry in T&T. More than just policy will be required to drive change; greater commitment by the government to ensure the sustainability and economic viability of T&T while also attempting to alter the mindset of the citizenry to act as effective stewards of the island's resources for the well-being of future generations.

Few issues in recent times have so provoked debate and dissention within the library field as has the concept of fees for user services. The issue has aroused the passions of our profession precisely because its roots and implications extend far beyond the confines of just one service discipline. Its reflection is mirrored in national debates about the proper spheres of the public and private sectors—in matters of information generation and distribution, certainly, but in a host of other social ramifications as well, amounting virtually to a debate about the most basic values which we have long assumed to constitute the very framework of our democratic and humanistic society.

Recent neuroscience research shows that two large-scale cortical networks are involved in organizational behavior. These two networks are naturally antagonistic – when one is active the other tends to be suppressed. The focus of the chapter is to apply the opposing-domains hypothesis to problems associated with: (1) trying to balance creative thinking and global processing with analytic reasoning and focused attention; (2) avoiding ethical dangers associated with an imbalance in task positive network (TPN) and default mode network (DMN) thinking; and (3) properly motivating and incentivizing employees so as not to lead to an imbalance between the TPN and DMN. We contend that the opposing-domains hypothesis can inform organizational and leadership theory in areas where single-dimensional dual-process models are inadequate.

The current chapter focuses on environmental and organizational factors that affect the performance appraisal context, performance evaluations, and rating accuracy. Drawing on the extant literature and focusing on current organizational practices, we propose a dynamic multi-level model of performance rating that takes these distal factors into consideration. In doing so, we also provide propositions explicating causal linkages between these distal factors, more proximal performance appraisal factors, and ultimately the accuracy of performance ratings. Furthermore, we identify current and emerging directions in performance appraisal research and practice. The implications of the current and emerging trends are then discussed in the context of our proposed model.

This inquiry aims to contribute to the literature on the historical developments that have influenced the origin, uses, and meanings of branding.

In this qualitative work an historical methodology was followed and, according to Howell and Prevenier's guidelines, a wide variety of sources were selected of the data presented. Moreover, this study draws on three important perspectives – that of the practitioner, the scholar, and the consumer – in order to offer a thorough view of the relevant issues concerning the evolution of branding.

The investigation suggests that various forces (e.g., the media, economic developments during the Second World War, marketing research and theorizing) have enacted a comprehensive transformation in the concept of branding. First, the paper offers evidence of the link between fire/burning and the origin of branding. Second, it shows that, in its early days, branding was characterized as a phenomenon with limited applicability. Third, the paper demonstrates how that phenomenon was transformed into a multidimensional, multifunctional, and malleable entity. Last, it presents recent evidence from both business and academia that shows the current, complex status of the concept of branding.

The paper is novel in its large perspective and integrative narrative, and the unusual exposure of its various conceptual issues and links. It should be of interest to marketing historians, brand managers, and scholars of branding.

A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that contract. When such a repudiation has been accepted by the innocent party then a termination of employment takes place. Such termination does not constitute dismissal (see London v. James Laidlaw & Sons Ltd (1974) IRLR 136 and Gannon v. J. C. Firth (1976) IRLR 415 EAT).

Environmental uncertainty threatens many companies. This paper seeks to offer a strategic model to help imperiled firms overcome employee inertia, counter competitive forces, and speed organizational renewal.

The paper presents a change model which outlines five major steps, each comprised of three elements. Examples from the field illustrate sequential stages of the cycle.

This framework aligns human resources and organizational processes. By adhering to this approach, leaders can become transformational change agents.

The proposed strategic format evolved from face‐to‐face discussions with exemplary turnaround leaders. In their visits to the author's classroom over the last six years, they offered insights that should prove beneficial to other leaders in turnaround situations.

The paper extends existing business models by providing a comprehensive set of action steps to engage all organizational members.