Measuring Economic and Social Impacts of Membership in a Community Development Financial Institution

This study uses qualitative and quantitative measures to answer the question: “does a community development financial institution (CDFI) provide a measurable level of social benefit to its members?” Results indicate that a CDFI does change lives in many important ways, from providing members with the ability to get their financial houses in order, to helping members take control of their financial futures, and finally through building a sense of empowerment that reaches beyond the finances of an individual or family. In general, impacts were greater for lower income and less educated households, households with children, households that used more services, and for households that indicated wealth and asset building services were most important.     

Turning Three Sides into a Delta at General Motors: Enhancing Partnership Integration on Corporate Ventures

General Motors had enjoyed global operations that were based on exports, acquisitions, joint ventures and strategic alliances throughout the 20th century. Its global-programme strategy appeared assured. However, the carmaker came unstuck when it came to creating a large-scale collaborative effort involving its own internal units. The Delta Small Car Program, involving three fully internal GM units, was terminated after its goals failed to materialise. The carmaker’s long-standing cultural tradition of autonomy for its units was what made collaboration between them difficult. We examine this GM global programme, placing it in its historical context. Our primary database consists of the perceptions and experiences offered to us by a cross-section of programme participants. By examining partner integration at the working level, we identify insights and offer recommendations pertaining to venture structure and dynamics and their role in venture success.     

Kinship care for children in the UK: messages from research,lessons for policy and practice1

This article presents a comprehensive overview of kinship care, or as it is also known, family and friends care, paying particular attention to the UK child welfare, legal, policy/practice contexts. The aim of the article is to raise awareness, and provide information, about a hitherto largely invisible, yet expanding placement option being widely used in child welfare systems in the UK, in Europe and elsewhere. The article places kinship care within a UK and European child welfare legal context, including the European Convention on Human Rights 1998 [Articles 8 and 14] and European kinship care developments are also highlighted. It contains the main findings of a kinship care research study conducted by the author, based on interviews with children and young people living with kinship carers, as well as with the kinship carers. Following an examination of theoretical and policy issues, the article examines ways forward for developing and supporting kinship care. In the final section, and based on the research findings and literature review, a new paradigm for child welfare is introduced. It is argued that this new paradigm is necessary in order for kinship care practice and policy to develop within a supported and sustainable family support framework.     

Problems in the application of portfolio selection models

This paper discusses a number of problems which arise in the implementation of portfolio selection models. It is suggested that the effect of errors and biases in expected return forecasts can be reduced by using these forecasts to modify a prior distribution which leads to minimal trading activity. Efficient diversification across industry groups is hampered by the difficulties of predicting covariances. The use of a selection model through time raises the issues of revising forecasts and of the relationships upon which the appropriate investment horizon and portfolio turnover depend. Last, consideration is given to the conflicts which may exist between management objectives and the mean-variance criterion used by most models.