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We evaluate the performance of fixed income mutual funds using stochastic discount factors motivated by continuous-time term structure models. Time-aggregation of these models for discrete returns generates new empirical “factors,” and these factors contribute significant explanatory power to the models. We provide a conditional performance evaluation for US fixed income mutual funds, conditioning on a variety of discrete ex-ante characterizations of the states of the economy. During 1985–1999 we find that fixed income funds return less on average than passive benchmarks that do not pay expenses, but not in all economic states. Fixed income funds typically do poorly when short-term interest rates or industrial capacity utilization rates are high, and offer higher returns when quality-related credit spreads are high. We find more heterogeneity across fund styles than across characteristics-based fund groups. Mortgage funds underperform a GNMA index in all economic states. These excess returns are reduced, and typically become insignificant, when we adjust for risk using the models.

This paper aims to present a visually documented brand history of Winchester Repeating Arms through a cultural analysis of iconic Western images featuring its lever action rifles.

The study applies visual culture perspectives and methods to the research and writing of brand history. Iconic Western images featuring Winchester rifles have been selected, examined, and used as points of departure for gathering and interpreting additional data about the brand. The primary sources consist chiefly of photographs from the nineteenth century and films and television shows from the twentieth century. Most visual source materials were obtained from the US Library of Congress, the Smithsonian Institution, the Buffalo Bill Center of the West and the Internet Movie Firearms Database. These have been augmented by written sources.

Within a few years of the launch of the Winchester brand in 1866, visual images outside company control associated its repeating rifles with the settlement of the American West and with the colorful people involved. Some of these images were reproduced in books and others sold to consumers in the form of cartes de visite, cabinet cards and stereographs made from albumen prints. Starting in the 1880s, the live Wild West shows of William F. Cody and his stars entertained audiences with a heroic narrative of the period that included numerous Winchesters. During the twentieth century and into the present, Winchesters have been featured in motion pictures and television series with Western themes.

Historical research is an ongoing process. The discovery of new primary data, both written and visual, may lead to a revised interpretation of the selected images.

Based largely on images as primary data sources, this study approaches brand history from the perspective of visual culture theory and data. The research shows how brands acquire meaning not just from the companies that own them but also from consumers, the media and other producers of popular culture.

In reporting to the Board early in 1906 on inquiries as to meat inspection in London; Dr. Buchanan drew attention to the need for a better understanding, in the interests of the British consumer, of the conditions under which meat and meat foods are prepared abroad for exportation to the United Kingdom, of the various systems of inspection or control adopted abroad in the case of such meats, and of the significance to be attached to the presence or absence of official inspection labels or marks on imported carcass meat and other meat foods.

Describes the means by which the performance of property investments can be measured and analysed. Reports on the results of a questionnaire survey looking into the practice of UK independent property portfolio managers. Suggests that a survey of financial institutions, namely insurance companies and pension funds, would reveal more about the objectives of performance measurement.

Posits that radical changes are required in attitudes of managers, supervisors and operators in the small business area of the textile business, also in clothing assembly, knitwear assembly, knitted fabric manufacture, spinning and carding. Considers the use of cognitive mapping to give support to strategy development involving managers of small businesses. Portrays two Figures with cognitive mapping highlighted. Concludes cognitive maps are a good foundation on which to build.

In early 2014, recent Stanford University graduate Tyler Shultz was in a quandary. He had been working at Theranos, a blood-diagnostic company founded by Elizabeth Holmes, a Stanford-dropout wunderkind, for almost a year. Shultz had learned enough about the company to realize that its practices and the efficacy of its much-touted finger-prick blood-testing technology were questionable and that the company was going to great lengths to hide this fact from the public and from regulators.

Theranos and Holmes were Silicon Valley darlings, enjoying positive press and lavish attention from potential investors and technology titans alike. Just as companies like PayPal had revolutionized the stagnant payments industry and Uber had upended the for-hire transportation sector, Theranos had been positioned as the latest technology firm to substantially disrupt yet another mature sector: the medical laboratory business. By the start of 2014, the company had raised more than $400 million in funding, and had an estimated market valuation of $9 billion.

Shultz's situation was exacerbated by the fact that his grandfather, the highly respected former US Secretary of State George Shultz, was on the Theranos board and was one of Elizabeth Holmes's biggest supporters.

But Tyler Shultz worried about the customers he was convinced were receiving highly unreliable and often inaccurate blood-test results. With so much at stake, Shultz wondered how he should proceed. Should he raise his concerns with the firm's investors? Blow the whistle externally? Report to industry regulators? Go away quietly?

This case and its subsequent four brief follow-up cases are based largely on interviews with Tyler Shultz, and outline the dilemma he faced and the various steps he would take both to extricate himself from his unsavory position and let the public know the full extent of the deception at Theranos.

Five optional handouts are available to instructors to further discussion after the case has been debriefed. The handouts serve as additional decision points for the students if your class time permits.

Campaign songs have been staples of U.S. presidential elections for more than 200 years, but have undergone important changes in not only structure over time, but who uses them and why. Following a discussion of the concentration of the American popular music industry and the shift from party-based to ideology-driven electoral politics, a two-dimension typology and hypotheses are formulated to help discern the distinct roles of these institutions in the transformation of the U.S. presidential campaign song. Data was systematically collected on the most prominent songs associated with each presidential campaign from 1788 to the present. In order to provide greater context for the use of songs in presidential campaigns over time, additional newspaper articles were collected for four elections. Results suggest that changes in the structure of the American music industry and the organization of presidential campaigns significantly affect the form of U.S. presidential campaign songs.

The purpose of the study is to examine the role of legitimacy in forming whistleblowing behavior in Ugandan procuring and disposing entities (PDEs).

This study has adopted both a quantitative and qualitative cross-sectional research design to collect data from a sample of 97 out of the population of 129 PDEs in Kampala, which are regulated by the Public Procurement and Disposal of Assets Authority.

This paper finds that improvement in the perception of public servants about the appropriateness of the Whistleblowers Act and its enforcers can increase on the reporting of unethical practices in public procurement.

This study has used a cross-sectional survey data. The causal relationships between variables are possibly obscured; as data from all participants are collected at the same point of time, perceptions go on changing over time. Therefore, further studies should use a longitudinal approach. Second, there are no constructs for legitimacy in public procurement and those from law are domesticated.

There should be a promotion of legitimacy of the Whistleblowers Act and the enforcement agencies of the Act. The government should devise means for the public servants to have an obligation to obey the holders of authority, to trust and have confidence in them and to enforce the Whistleblowers Act in an ethical and normative framework.

This study reveals the whistleblowing intentions and behavior of public servants in PDEs. This study would help the Government of Uganda to make the Whistleblowing Act legitimate and its enforcers to increase on the reporting of unethical practices in public procurement.