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Standard stratified sampling (SSS) is a popular non-random sampling scheme. Maximum likelihood estimator (MLE) is inconsistent if some sampled strata depend on the response variable Y (‘endogenous samples’) or if some Y-dependent strata are not sampled at all (‘truncated sample’ – a missing data problem). Various versions of MLE have appeared in the literature, and this paper reviews practical likelihood-based estimators for endogenous or truncated samples in SSS. Also a new estimator ‘Estimated-EX MLE’ is introduced using an extra random sample on X (not on Y) to estimate the distribution EX of X. As information on Y may be hard to get, this estimator's data demand is weaker than an extra random sample on Y in some other estimators. The estimator can greatly improve the efficiency of ‘Fixed-X MLE’ which conditions on X, even if the extra sample size is small. In fact, Estimated-EX MLE does not estimate the full FX as it needs only a sample average using the extra sample. Estimated-EX MLE can be almost as efficient as the ‘Known-FX MLE’. A small-scale simulation study is provided to illustrate these points.

Introduction – Markowitz (1952) argues that individuals act rationally in their financial decisions. In contrast, Kahneman and Tversky (1979) claim that the psychological characteristics of people significantly affect financial decisions. In making these decisions, factors such as age, gender, and educational status may have an impact.

Purpose – The purpose of this study is to determine whether financial literacy has an impact on individuals’ cognitive biases related to financial investments.

Methodology – A sample of 444 individuals were surveyed.

Findings – In the results of study (1) it was determined that financial literacy leads to differences in cognitive biases; and (2) cognitive biases of individuals who do not receive finance education are different from individuals who receive finance education and professionals in the business world. The findings indicate that the increase in the level of financial literacy of individuals will reduce the cognitive biases and heuristics, and therefore will have a positive effect on the investor behavior in financial markets.

This chapter presents first a theoretical model of conflict between two agents characterised by a two-sector economy. In a contested sector, two agents struggle to appropriate the maximum possible fraction of a contestable output. In an uncontested sector, they hold secure property rights over the production of some goods. Agents split their resource endowment between ‘butter’, ‘guns’ and ‘ice-cream’. Eventually, tradable goods made of both butter and ice-cream produced by conflicting parties are sold to the rest of the world. Therefore, the opportunity cost of conflict depends also on the relative profitability of contested and uncontested production. In particular, productivity of uncontested production and profitability of contested sectors are countervailing forces. The empirical section focused on a panel of Sub-Saharan African countries for the period 1995–2006. Results are not fully conclusive. However, there is robust evidence that prices of manufactures (interpreted as the uncontested ice-cream) are negatively associated with the likelihood of a civil war. Eventually, international price of manufactures is also associated with a higher GDP per capita growth rate. The concluding remark seems to be that an increase in world prices of manufactures would make civil wars less likely.

Since 1997, a quantitative revolution has swept Korean economic history and generated a new paradigm. From 1700 to 1900 the Korean economy expanded and contracted along lines suggested by Adam Smith. Economic expansion was based on productive land and a stable commodity market. The direct result was high real skilled wages. Economic contraction became clear from the mid-nineteenth century when the value of land declined, commodity prices rose, and real skilled wages fell. The contraction was apparent before the appearance of Japanese imperialism and the absorption of Korea into the international commodity market after 1876.

This chapter differentiates the effect of solicited credit ratings (SCRs) and unsolicited credit ratings (UCRs) on bank leverage decision before and after the credit rating change. We find that banks with UCRs issue less debt relative to equity when the credit rating changes are approaching. Such findings are also prominent when bank credit rating moves from investment grade to speculative grade. After credit rating upgrades (downgrades), banks with unsolicited (solicited) credit ratings are inclined to issue more (less) debt relative to equity than those with solicited (unsolicited) credit ratings. We conclude that SCR and UCR changes lead to significantly different effects on bank leverage decision.

Digital influencers, besides being a personal branding phenomenon, constitute, nowadays, important partners for brands in the digital environment. Despite the benefits for both parties, the brand and the endorser, there is a risk when the individuals or the brand take part in some scandal or questionable activity, which causes a loss of credibility and reputation. The contagious effect of personal or corporate brand crisis with the partners is well reported in the literature. However, there are no studies about such occurrence in the digital environment, considering that the phenomenon of digital influence has some particularities differing from traditional celebrity endorsement. This chapter focuses on the research of the consequences of a change in the credibility of influencers or brands, after the occurrence of a negative situation, and the way in which this change affects the two parties involved, the brand and the influencer. We conducted a netnographic study of the social media pages of three digital influencers and the social media pages of a recognized fast fashion brand recognized in the digital world. We analyzed 1500 social media comments from their audiences and found that influencers suffer from a loss in sympathy and credibility by scandals while crisis communication strategies in corporate brands can prevent such damages. Strategic implications for brand managers and digital influencers managing their endorsements are addressed in the discussion.

In current economic systems, the role played by non-profit and voluntary organisations is relevant. Several studies analyse the development of these organisations and suggest reasons related to the dissemination of policies that first consider public intervention and then ‘the third way’ of the economy as a way to increase wealth and support economic development. In this context, it should be noted that:

• Modern non-profit organisations (NPOs) take the form of enterprises encouraging the development of capabilities to satisfy human needs in terms of production of goods and utilities.

• A systematic cooperation with the local context (i.e. enterprises and Public Administration) is becoming increasingly more important for the survival and development of NPOs.

• Excellent opportunities for economic and social growth and for mutual development can develop from this type of cooperation.

• Starting from this premise, the purpose of the research is to suggest some insight on the theme of cooperation between for-profit and non-profit world in the light of the thought of Church’s Social Doctrine, and in particular, of the Encyclical Letter of Benedict XVI, Caritas in Veritate – On Integral Human Development in Charity and Truth. In this sense, the contribution is a conceptual work; the study could improve with empirical research concerning the level of diffusion and the form of collaborations for-profit/non-profit in the Italian context.

Modern non-profit organisations (NPOs) take the form of enterprises encouraging the development of capabilities to satisfy human needs in terms of production of goods and utilities.

A systematic cooperation with the local context (i.e. enterprises and Public Administration) is becoming increasingly more important for the survival and development of NPOs.

Excellent opportunities for economic and social growth and for mutual development can develop from this type of cooperation.

Starting from this premise, the purpose of the research is to suggest some insight on the theme of cooperation between for-profit and non-profit world in the light of the thought of Church’s Social Doctrine, and in particular, of the Encyclical Letter of Benedict XVI, Caritas in Veritate – On Integral Human Development in Charity and Truth. In this sense, the contribution is a conceptual work; the study could improve with empirical research concerning the level of diffusion and the form of collaborations for-profit/non-profit in the Italian context.

From a methodological point of view, after a literature review on NPOs and corporate social responsibility, the chapter analyses reasons, strategies and tools of collaborations between non-profit and for-profit worlds (the role of Public Administration and hybrid organisation is excluded). Then, focus moves up on Church’s Social Doctrine and Encyclical Letter Caritas in Veritate with particular attention to the topic analysed in this chapter (collaboration for-profit/non-profit enterprises). The vision emerging from the Encyclical is that the dichotomy between for-profit and NPOs should be resolved by striving for the development of a ‘civil economy’ with the capacity to promote the overall development of the human being. The research highlights the importance of dissemination of initiatives promoted predominantly by NPOs, with the objective of stimulating and supporting the implementation of forms of structured collaboration; we are sure that a ‘connection point’ between for-profit and non-profit is now necessary.

Family care partners are significantly involved in healthcare tasks in order to support adult relatives. Yet, unlike pediatric models of care where caregivers of children are formally integrated into healthcare teams, care partners of adults are rarely engaged in a formal, structured, or consistent manner. Their inclusion in the healthcare team is critical to their capacity to continue supporting their relative. A meaningful dialogue between policy and healthcare management is required to identify feasible and effective ways of engaging family care partners in healthcare teams.

Excessive teacher entitlement results from interactions between and among social, institutional and individual elements. This study retrieves small entitlement stories of two teachers and one school principal from an online elementary teacher community in China. Through burrowing into the narrative data, this study presents how the three participants' selves are revealed in their interactions with different community members. The multi-layered relationships between entitlement, reflection, unknown self, personal/professional experiences, and teacher community are discussed. This study provides insights into how administrators, teachers and other educators can collaborate to foster teachers' self-understanding, with the purpose of ameliorating excessive teacher entitlement.