The Effects of Resources on Social Activity and Economic Performance in Social Economy Organizations

Social economy organizations (SEOs) represent the European Union's strong commitment to promoting the creation of welfare, employment, and social cohesion. This article examines the financial management model of these organizations by analyzing the impact of their available resources or capabilities on their economic performance and social activity and the possible mediating effect of their economic dimension as a strategic element in obtaining social achievements. In this study, we analyze 1,400 Spanish SEOs between 2009 and 2012 by using a structural equations model (SEM). Our results reveal that SEOs have their own financial management model that is characterized by the mediating role of economic performance and a high ability to adapt to changes in the environment.     

Robust Contracts in Continuous Time

We study a continuous‐time contracting problem under hidden action, where the principal has ambiguous beliefs about the project cash flows. The principal designs a robust contract that maximizes his utility under the worst‐case scenario subject to the agent's incentive and participation constraints. Robustness generates endogenous belief heterogeneity and induces a tradeoff between incentives and ambiguity sharing so that the incentive constraint does not always bind. We implement the optimal contract by cash reserves, debt, and equity. In addition to receiving ordinary dividends when cash reserves reach a threshold, outside equity holders also receive special dividends or inject cash in the cash reserves to hedge against model uncertainty and smooth dividends. The equity premium and the credit yield spread generated by ambiguity aversion are state dependent and high for distressed firms with low cash reserves.     

Reliance on Faith-Based Organizations for Tangible Assistance in Times of Disaster: Exploring the Influence of Bonding Social Capital

Although there is a growing amount of research on the role that faith-based organizations play in disaster recovery, there is currently no research that has investigated the influence that social capital has on individual disaster victims’ proclivity to rely on these organizations for recovery assistance. This current exploratory research sought to observe the relationship between individuals’ bonding social capital, in addition to other individual characteristics, and their perceived reliance on faith-based organizations for tangible disaster aid in future events using a national survey administrated by the Associated Press–NORC for Public Affairs Research in 2013. As a by-product of the analysis performed, it is observed that bonding social capital is related to an individual’s perceived reliance on faith-based organizations, whereas other demographic variables such as race are not.     

THE IMPACT OF INFORMATION AND RISK PERCEPTION ON THE HURRICANE EVACUATION DECISION-MAKING OF GREATER NEW ORLEANS RESIDENTS

This article contributes to the current discussion on how residents living in vulnerable areas make the decision to evacuate when they are in harms way. Key in this discussion is the question, what role does information and risk play in shaping evacuation behavior? This study used a sample of respondents from the greater New Orleans region (Orleans, Jefferson, and St. Bernard Parishes) of the Twelve Parish Survey (N = 1,207) conducted prior to Hurricane Katrina. The findings indicate that information sources are vitally important in the evacuation process. By examining the role of information from authorities, family, and friends; visual imagery; and the media we found that individuals use a variety of sources when they decide to evacuate. Further, the importance of visual imagery in the evacuation process is discussed. The article concludes with a discussion of the implications of information dissemination and its importance to members of the media and public policy makers.     

Attitudes toward homosexuality among U.S. residents of Mexican descent

This study examined attitudes toward lesbians and gay men in a sample of northern California residents of Mexican descent (N = 616), using 3‐item versions of the Attitudes Toward Gay Men (ATG) and Attitudes Toward Lesbians (ATL) scales presented simultaneously in Spanish and English. Males’ attitudes toward homosexual men were significantly more negative than females’ attitudes, whereas females expressed relatively negative attitudes toward lesbians. Overall, respondents expressing negative attitudes endorsed more traditional gender attitudes than respondents with positive attitudes, tended to be older and less educated, had more children, were more likely to belong to a fundamentalist religious denomination and to attend religious services frequently, were more conservative politically, and were less likely to have personal contact with gay people. Further analyses revealed that associations between attitudes and education, number of children, personal contact, and religious attendance occurred mainly among respondents who spoke and read English (rather than Spanish) or identified with U.S. culture (rather than Mexican culture).