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This paper examines which basis functions are efficient to employ a combined method of Hull and White (1990) with the Monte Carlo simulation when we price a callable range note or a callable bond. We use the Huge and Rom-Poulsen (2007) method which has modified the least squared Monte Carlo simulation proposed by Longstaff and Schwartz (2001) to reduce the estimation errors of the continuation value or the underlying assets. To use Monte carlo Simulation for pricing the early exercise premium, it is essential to accurately estimate the continuation value, because the investors will choose the higher value between the exercise and the continuation value at the possible early exercise dates. The main purpose of this paper is to analyze the estimation errors originating from the choice of the basis functions for the underlying asset and the continuation value estimation.

We choose the callable bond and the callable range accrual note to show which basis functions are reliable to reduce the estimation errors. For this purpose, we replicate the callable range accrual note with a portfolio of a fixed rate bond and a delayed digital option. We use several basis functions such as a constant, the instantaneous interest rates, and the range in order to see which basis function is efficient for our purpose. We examine several combinations of the basis functions depending on which basis functions will be used for the underlying asset or the continuation value estimation. We show that the range which is an important determinant of the callable range accrual note is an effective basis function to accurately determine the underlying asset and the continuation value for the pricing of the callable range accrual note.

This study contributes to a better understanding of the important actor-specific, micro-level legitimacy dimensions in dynamic entrepreneurial ecosystems (EEs).

Using an embedded case study approach and rich longitudinal data collected over 16 years within a French EE, the study analyzes the legitimacy gaining process of two actors coming from opposite founding conditions.

Three dimensions of legitimacy (3L) are necessary to be accepted as functional actors within EEs: institutional legitimacy (IL) refers to the EE's acceptance of an actor as an institution active in the field of entrepreneurship; cultural legitimacy (CL) means that the actor is recognized as possessing and promoting values considered appropriate by the entrepreneurial community; relational legitimacy (RL) relates to the willingness of the entrepreneurial community to interact with the actor. These are complementary dimensions that members of EEs need to possess to acquire full legitimacy. Different paths are possible to achieve this full legitimacy.

Replicating the study with a comparative approach including more actors could represent an interesting avenue for research.

This research provides insights into the underlying dimensions of legitimacy in EEs, how various actors gain legitimacy in such contexts and how this influences the dynamics of EEs.

The results provide novel insights into the issue of legitimacy in EEs and legitimacy theory in general.

The study aims to explore institutional adaptation for sustainable water resources management at the local level in the context of increasing climate-related challenges in Zimbabwe using the case of a semi-arid area in the mid-Zambezi Valley, north of the country.

Inspired by the critical institutionalism approach, the study uses qualitative methods (i.e. key informant interviews, semi-structured interviews, community workshops and documentary review) to understand the role of different formal and informal water-related institutions vis-à-vis responding to climate-related challenges in the case study area, and how the identified institutions can improve their efforts in the context of national water and environmental policy and regulation frameworks. Thematic analysis was used for data analysis.

The study found that climatic challenges in the case study area, as in most of rural Africa, have raised the stakes in local water management with respect to regulating access to and balancing competing interests in, and demands for, water. It ultimately argues for the embracing of complexity thinking and flexibility in local water management as well as clear coordination of institutions across scales in the face of increasing climate-related challenges.

The study adds to case studies and evidence-based analyses focused on institutional alternatives for climate adaptation vis-à-vis water resources management in water-stressed rural African communities.

Several attack models attempt to describe behaviours of attacks with the intent to understand and combat them better. However, all models are to some degree incomplete. They may lack insight about minor variations about attacks that are observed in the real world (but are not described in the model). This may lead to similar attacks being classified as the same type of attack, or in some cases the same instance of attack. The appropriate solution would be to modify the model or replace it entirely. However, doing so may be undesirable as the model may work well for most cases or time and resource constraints may factor in as well. This paper aims to explore the potential value of adding information about attacks and attackers to existing models.

This paper investigates used cases of minor variations in attacks and how it may and may not be appropriate to communicate subtle differences in existing attack models through the use of annotations. In particular, the authors investigate commonalities across a range of existing models and identify where and how annotations may be helpful.

The authors propose that nuances (of attack properties) can be appended as annotations to existing attack models. Using annotations appropriately should enable analysts and researchers to express subtle but important variations in attacks that may not fit the model currently being used.

This work only demonstrated a few simple, generic examples. In the future, the authors intend to investigate how this annotation approach can be extended further. Particularly, they intend to explore how annotations can be created computationally; the authors wish to obtain feedback from security analysts through interviews, identify where potential biases may arise and identify other real-world applications.

The value of this paper is that the authors demonstrate how annotations may help analysts communicate and ask better questions during identification of unknown aspects of attacks faster,e.g. as a means of storing mental notes in a structured manner, especially while facing zero-day attacks when information is incomplete.

The purpose of this paper is to increase the knowledge of principals' professional development (PD) by focusing on the arrangements that shape a PD practice initiated to enhance principals' instructional leadership.

The paper draws on findings from a three-year PD initiative in a Swedish school district. The data consist of field notes and semi-structured interviews with principals and managers. Theoretically, the paper takes its starting point in the theory of practice architectures and the cultural-discursive, material-economic and social-political arrangements that shape practices.

Practices for principals' PD require a fine balance to prevent the perception of hierarchical control. Designated time, common artifacts and external expertise are arrangements of practice that enable principals' PD. High expectations and relations between principals and managers both enable and constrain principals' PD. As trustful relations are of particular importance, the implication for managers and others organizing for principals' PD is to make sure that collaborative work settings also become a natural way of working for principals. As building relations takes time, a longer time perspective is also recommended.

The findings have practical implications for educational leaders responsible for organizing PD practices for principals in any context.

This paper adopts a practice theory approach to its study of principals' PD and provide an elaborated illustration of arrangements that enable and constrain principals' PD in collegial settings.

The purpose of this paper is to explore upper secondary school students’ voices on how information and communication technology (ICT) could structure and support their everyday activities and time at school.

In all, 11 group interviews were conducted with a total of 46 students from three upper secondary schools. NVivo PRO 11 was used for a qualitative content analysis.

The results show that ICT plays a central role in the students’ schooling, not in terms of “state-of-the-art” technology, but rather as “state-of-the-actual”, by for example supporting the writing process and for peer support, digital documentation and storage.

A relatively small number of students in three schools and three specific programmes make generalisations difficult.

Students’ perspectives on the “state-of-the-actual” could influence teachers’ use of ICT in education, their professional development activities and the development of an in-school ICT infrastructure.

The study could lead to a better understanding of students’ expectations and use of ICT at school and in everyday life.

The originality of this paper is the focus on students’ voices about how the basic use and functionality of ICT could structure and support their everyday activities at school.

Effective use of data across public health organisations (PHOs) is essential for the provision of health services. While health technology and data use in clinical practice have been investigated, interactions with data in non-clinical practice have been largely neglected. The purpose of this paper is to consider what constitutes data, and how people in non-clinical roles in a PHO interact with data in their practice.

This mixed methods study involved a qualitative exploration of how employees of a large PHO interact with data in their non-clinical work roles. A quantitative survey was administered to complement insights gained through qualitative investigation.

Organisational boundaries emerged as a defining issue in interactions with data. The results explain how data work happens through observing, spanning and shifting of boundaries. The paper identifies five key issues that shape data work in relation to boundaries. Boundary objects and processes are considered, as well as the roles of boundary spanners and shifters.

The study was conducted in a large Australian PHO, which is not completely representative of the unique contexts of similar organisations. The study has implications for research in information and organisational studies, opening fields of inquiry for further investigation.

Effective systems-wide data use can improve health service efficiencies and outcomes. There are also implications for the provision of services by other health and public sectors.

The study contributes to closing a significant research gap in understanding interactions with data in the workplace, particularly in non-clinical roles in health. Research analysis connects concepts of knowledge boundaries, boundary spanning and boundary objects with insights into information behaviours in the health workplace. Boundary processes emerge as an important concept to understand interactions with data. The result is a novel typology of interactions with data in relation to organisational boundaries.

In this article, we highlight ways in which disability critical race theory (DisCrit) (Annamma et al., 2013), inclusive education and community-based participatory research (CBPR) can be used within professional development schools (PDS) to provide students with disabilities with more access to inclusive classrooms. At a grade 4–6 elementary school, we developed a model of a critical PDS to promote inclusive education and facilitate the transition of students of color with disabilities from self-contained to inclusive classrooms. We conducted semi-structured interviews and used action plan meetings with school administrators, teachers, professionals and students with disabilities and their parents to assess the impact of our critical PDS model. Findings suggest this model had a positive impact on administrators’ and teachers’ critical consciousness, ideological and instructional practices, students of color with disabilities’ social, academic and personal outcomes, as well as a schoolwide culture of inclusion and social justice. This study can inform tailored professional development efforts to improve educators’ inclusive practices.

We conducted semi-structured interviews and used action plan meetings with school administrators, teachers, professionals and students with disabilities and their parents to assess the impact of our critical PDS model.

The findings of this study suggest this model had a positive impact on administrators’ and teachers’ critical consciousness, ideological and instructional practices, students of color with disabilities’ social, academic and personal outcomes, as well as a schoolwide culture of inclusion and social justice.

This study can inform tailored professional development efforts aiming to improve educators’ inclusive practices.

We developed a model of a critical PDS to promote inclusive education and facilitate the transition of students of color with disabilities from self-contained to inclusive classrooms.

This study examines the social organizational structure of one early childhood education (ECE) center in Finland and the relationship between this structure and the roles and the responsibilities of the members of the organization.

The research is a qualitative case study with ethnographic features. Its variables for content analysis are based on Henry Mintzberg's theory of organizational design.

The study's results show that the organizational structure of the ECE center follows the organizational configuration of a Professional bureaucracy and that the multiprofessional teams follow the configuration of a Simple structure. The structures for centralization and decentralization are suitable for a professional bureaucracy, but the roles of the members of the organization and the processes for shared decision-making lack clarification. The shortage of qualified ECE teachers disrupts the function of the organization and the work of ECE leaders.

The educational background of subjects may have affected the findings.

The study uses Henry Mintzberg's organizational structure theory to evaluate how and why power is distributed and activities are coordinated at the ECE center. The results also show what parts of the organization pose challenges that most commonly disrupt the organization's operations. With these findings, it is possible to expand the understanding of roles and responsibilities in the currently reforming ECE environment and what ECE centers need to function effectively. The study is part of a larger research project and will be continued to examine the leadership culture of the ECE center.