Reconsidering the philanthropic foundation minimum payout policy under a “new normal”

With the increasing salience of foundations in many policy fields, and recent changes in market conditions, policies towards foundations designed decades ago seem outdated. In this article we suggest reassessing foundation payout minimums. To examine the impact of payout rates on grantmaking foundations lifespan and performance under “new normal” economics, we simulate multiple foundations lifecycles using Monte Carlo methods in diverse capital market conditions, with varied investment and payout strategies.We find that while under past market regime perpetuity seems to be a given, under more probable future scenarios, foundations might face increasingly early mortality and endowment depletion, limiting their potential impact. Furthermore, lower payout rates allow for higher lifetime grantmaking, higher mean annual grantmaking, and lower giving volatility. Accordingly, we suggest a tiered payout policy, in line with foundations’ missions and proper financial planning.     

The triggers of local and distant search: Relative magnitude and persistence in explaining acquisition relatedness

Research on problemistic search has assumed negative attainment discrepancy to be the trigger of both local and distant search. Extending this research, we present and compare two additional triggers: (1) relative attainment discrepancy, which reflects how much a firm's attainment discrepancy deviates from its past negative attainment discrepancies; and (2) persistent attainment discrepancy, which reflects how often the firm experiences below-aspirations performance. Our triggers for distant search model a behavioral explanation for the timing and relatedness of acquisitions. We find support for baseline arguments of problemistic search whereby firms increase both industry- and skill-related acquisitions when they perform below aspirations. When they persistently perform below aspirations, however, this likelihood is reduced and firms engage in acquisitions that are more unrelated, thereby providing support for the notion of expanding search boundaries from local to distant search. Of the two triggers of distant search proposed, relative attainment discrepancy does not induce firms to expand search boundaries. Our results indicate that persistent attainment discrepancy is a key construct to consider when studying the expansion of search boundaries.     

Validation of the Learning Transfer System Inventory (LTSI) in the Korean corporate context

Lack of a valid instrument to measure learning transfer predictors has been the major obstacle hindering Human Resource Development (HRD) professionals from moving forward. This problem is one of the lingering HRD issues in South Korea, in which human resources have been strategically emphasized as a critical asset due to the scarcity of natural resources. To address this issue, this study aims at testing the validity and reliability of the data collected with the Korean Learning Transfer System Inventory (LTSI) Version 4. A sample of 753 managers from 16 Korean industries was divided into two subsamples for exploratory and confirmatory factor analyses. Reliability and the effect of common method variance on the factor structure were examined, with the results suggesting that the LTSI is valid for use in the Korean industry.     

PREFERENCE MAPPING OF PERCEIVED INFORMATION STRUCTURE: IMPLICATIONS FOR DECISION SUPPORT SYSTEMS DESIGN

In a recent issue of this journal, Watkins [13] presented an approach for discovery of decision-maker perceptions of the complexity (dimensionality) of information items that might be supplied by a decision support system. Through use of multidimensional scaling and cluster analysis, relatively homogeneous groups of decision makers, sharing common perceptions of various information items, were formed. This prior research was referred to as a first step in suggesting that information reports could be tailored to groups of decision makers classified on the basis of common perceptions of information. The current research extends the prior study by evaluating decision maker preferences for information in a variety of decision-making scenarios in relation to the previously identified perceptions of the information. Based on the results of the study, conclusions are made which suggest that the tailoring of information to groups of decision makers should be based on both perceptions and preferences for information. Even so, it is demonstrated that the decision tasks have an impact on the preferences for information which may affect the attempt to tailor information to groups of decision makers.     

ASSESSING ENVIRONMENTAL SCANNING AT THE SUBUNIT LEVEL: A MULTITRAIT-MULTIMETHOD ANALYSIS*

Environmental scanning activities of over 400 top management subunits in 108 European manufacturing firms provided the data base for this research. Four traits (constructs) of scanning using three methods (interest, frequency, and time) were examined. A confirmatory factor analysis approach to multitrait-multimethod (MTMM) data was employed. Verification of the reliability as well as convergent and discriminant validity of the scanning scales are reported and discussed. The viability of confirmatory factor analysis in providing a precise analysis of partitioning variance according to trait, method, and error is demonstrated.     

DEVIL'S ADVOCACY AND DIALECTICAL INQUIRY EFFECTS ON PREDICTION PERFORMANCE: TASK INVOLVEMENT AS A MEDIATING VARIABLE

Critics of previous laboratory experiments comparing devil's advocacy (DA) to dialectical inquiry (DI) have suggested that these experiments produced misleading results because (1) they used subjects who had low levels of task involvement and (2) the DI treatment used was confusing to subjects and required further explanation to be useful. The present study examines the effects of four inquiry methods—expert (E), DA, DI, and DI with explanatory statement (DI+)—on subjects' performance at a financial prediction task. Results show that DA, DI, and DI + were superior to E when the state of the world differed significantly from assumptions underlying the expert's plan. For subjects with high task involvement, DI and DI + were more effective than E and DA. The results support some of the criticisms of previous laboratory research and suggest that future research on these decision aids should include task involvement as a factor.     

当前经济形势下财政货币政策调控的重点

现阶段我国宏观经济运行中,一方面存在着通货膨胀压力,另一方面,社会总需求结构失衡严重,消费、投资、出口之间的比例关系极为不协调。经济失衡的复杂性,使财政政策与货币政策的协调配合成为我国宏观调控面临的难题之一。因此,面对新的形势,确定当前宏观调控的重点,提高财政政策和货币政策配合的效果,通过两大政策的配合实现经济稳定增长、优化总需求结构。     

关于党代会常任制的思考

廉洁政府的关键是执政党廉洁,而造成执政党腐败的重要根源是只“对上负责”体制可能造成的以第一把手为核心的高层腐败。党代会常任制是根除第一把手腐败的一剂良药。党代会常任制的核心涵义有三：一是党代会年会制,使党代会真正成为党的最高决策机关;二是全委会常设制,使之真正成为党的执行机关;三是党的纪委独立制,使之成为党的最高监督机关,从而实现执政党的决策权、执行权和监督权的分设与协调。     

构建科学体系 创新教育模式——兼谈高校“思想政治理论课”新课程教学改革实践探索

为了有效地进行高校“思想理论课”新课程的教学改革,当前必须构建科学理论教育体系、先进文化教育体系、社会主义思想道德和民主法制教育体系、大学生健康心理教育体系、社会实践教育体系和服务育人支撑体系“六位一体”的大学生思想政治教育体系;以“一新”、“二精”、“三注意”的新思路,拓展和丰富大学生思想政治理论教育内容。创新立体多维交融的“课堂-基地-生活”三位一体大学生思想政治教育模式。     

基于“过程-互动-行动”的城市贫困问题分析

随着中国市场化、城市化进程的加快,城市贫困问题越发严重。基于社会学家胡格伟尔特(A.Hoogvelt)的"过程—互动—行动"分析框架,分析了现阶段我国城市贫困问题的新特点及成因,指出贫困问题的加重,一是源于对社会群体福利最大化这一社会目标的偏离,民众,特别是弱势民众没有充分享受到中国宏观经济增长的长处,"宏观上欣欣向荣、微观上民不聊生";二是民主制度的缺失致使弱势群体话语权缺失,没有一个可循的制度安排供城市贫民来表达权益;三是政策实施过程中的政府失灵。对此,文章提出破解城市贫困的制度选择。