Flood Catastrophe Model for Designing Optimal Flood Insurance Program: Estimating Location‐Specific Premiums in the Netherlands

As flood risks grow worldwide, a well‐designed insurance program engaging various stakeholders becomes a vital instrument in flood risk management. The main challenge concerns the applicability of standard approaches for calculating insurance premiums of rare catastrophic losses. This article focuses on the design of a flood‐loss‐sharing program involving private insurance based on location‐specific exposures. The analysis is guided by a developed integrated catastrophe risk management (ICRM) model consisting of a GIS‐based flood model and a stochastic optimization procedure with respect to location‐specific risk exposures. To achieve the stability and robustness of the program towards floods with various recurrences, the ICRM uses stochastic optimization procedure, which relies on quantile‐related risk functions of a systemic insolvency involving overpayments and underpayments of the stakeholders. Two alternative ways of calculating insurance premiums are compared: the robust derived with the ICRM and the traditional average annual loss approach. The applicability of the proposed model is illustrated in a case study of a Rotterdam area outside the main flood protection system in the Netherlands. Our numerical experiments demonstrate essential advantages of the robust premiums, namely, that they: (1) guarantee the program's solvency under all relevant flood scenarios rather than one average event; (2) establish a tradeoff between the security of the program and the welfare of locations; and (3) decrease the need for other risk transfer and risk reduction measures.     

Transformational Leadership, Organizational Culture, Organizational Effectiveness, and Programme Outcomes in Non-Governmental Organizations

This study examines whether transformational leadership influences organizational culture that furthers NGOs?? effectiveness. It also examines whether transformational leadership at the top directly influences NGOs?? effectiveness. Further, it tests whether NGO effectiveness improves the programme outcomes in terms of health, income, education, and happiness of villagers. Data were collected from 312 NGOs in Jharkhand state (India). Transformational leadership, organizational culture, and NGO effectiveness were assessed from NGO personnel using standard instruments, and programme outcomes on health, income, education, and happiness were evaluated from villagers using wooden cubes. Findings reveal that transformational leadership builds organizational culture that furthers NGO effectiveness. Transformational leadership does not influence directly NGO effectiveness but it enhances NGO effectiveness promoting organizational culture. Furthermore, NGO effectiveness improves the outcomes of programmes undertaken by NGOs in terms of better health, income, education, and happiness of beneficiaries.     

A team level investigation of the relationship between Leader–Member Exchange (LMX) differentiation,and commitment and performance

Although the differential treatment of team members by their leader is at the heart of Leader–Member Exchange (LMX) theory, empirical studies exploring the role of within-team LMX differentiation in relation to team outcomes are still relatively scarce. This study among 269 Dutch secondary school teachers from 33 different teams tested the hypotheses that the relationship between LMX differentiation and team commitment, and team performance is moderated by LMX-quality median. Moreover, we hypothesized that team members' perceived dissimilarity regarding work values and orientations would be positively related to within-team LMX differentiation. Teachers completed questionnaires on LMX-quality, dissimilarity, and team commitment, whereas team performance was rated by school principals. Results indeed showed that LMX differentiation is positively related to both outcome variables in teams with a low LMX-quality median only. As expected, more perceived dissimilarity between team members was related to more within-team variability in LMX-scores. These results contribute to knowledge on hypothetical antecedents and consequences of LMX differentiation at the team level.     

Selecting the normal population with the smallest variance: A restricted subset selection rule

Consider k( ? 2) normal populations whose means are all known or unknown and whose variances are unknown. Let σ²_[1] ? ??? ? σ_[k]² denote the ordered variances. Our goal is to select a non empty subset of the k populations whose size is at most m(1 ? m ? k ? 1) so that the population associated with the smallest variance (called the best population) is included in the selected subset with a guaranteed minimum probability P* whenever σ²_[2]/σ_[1]² ? δ* > 1, where P* and δ* are specified in advance of the experiment. Based on samples of size n from each of the populations, we propose and investigate a procedure called R_BCP. We also derive some asymptotic results for our procedure. Some comparisons with an earlier available procedure are presented in terms of the average subset sizes for selected slippage configurations based on simulations. The results are illustrated by an example.     

Private equity regulation: a comparative analysis

This article examines the existing contractual arrangements and industry standards in private equity. It shows that investors are, in principle, capable of structuring their particular investments according to their own preferences, there are a range of governance problems and risks that could be potentially hazardous for some classes of investors. We examine the circumstances where existing industry codes and legal tools can be used to address the problems that arise in relation to private equity and buyout activity.     

Meta-Analyses of the Intra- and Interpersonal Outcomes of Interpersonal Coordination

Interpersonal coordination, the extent to which social partners coordinate each other’s postures and mannerisms, acts as a “social glue” that serves both individual and social goals, such as producing prosocial behaviors and facilitating harmonious interactions. Research in this area has become prominent in a variety of domains both within and outside of psychology, forming a sizeable literature dedicated to investigating the causes and consequences of interpersonal coordination. We conducted a series of meta-analyses on studies that treated interpersonal coordination as an independent variable, in order to measure its effect on several intrapersonal (e.g., mood, need to belong) and interpersonal (e.g., prosocial behavior) outcomes, as well as several potential moderators (e.g., percentage of female participants) that may affect the strength of the effect. Overall, the results demonstrated that the positive effects of interpersonal coordination are robust, with a few exceptions specific to intrapersonal outcomes. These findings provide a much-needed quantitative summary of the literature on interpersonal coordination, and highlight areas that merit future research.