The New York City neighborhood-based services strategy

The New York City Administration for Children's Services (ACS) instituted a neighborhood-based services system through the realignment of all foster care, preventive, and protective services along community district lines. ACS, with its community partners, also formed neighborhood-based networks to improve service coordination and collaboration among key community stakeholders and to shape a multisystem strategy tailored to each district informed by child welfare data. Based on analysis of neighborhood-specific census tract child welfare data, ACS initiated the Community Partnership to Strengthen Families project to address the disproportionate number of foster care placements originating from a small group of high-need communities, including Manhattan's Central Harlem. This article describes examples of specific strategies based on the Central Harlem experience.     

On the Multivariate Two-Sample Problem Using Strong Approximations of Empirical Copula Processes

In this article, we establish optimal rates for the strong approximation of empirical copula processes in ?² by sequences of Gaussian processes. These results are applied to investigate Cramér–von Mises-type statistics.     

Strong approximation of empirical copula processes by Gaussian processes

In this paper, we provide the strong approximation of normalized empirical copula processes by a Gaussian process. In addition, we establish a strong approximation of the smoothed empirical copula processes and a law of iterated logarithm.     

On the Social and Financial Effects of the Transformation of Microfinance NGOs

This article examines the social and financial performance of an international sample of non-governmental organizations (NGOs) which transformed into microfinance institutions (TMFI). It shows that recent calls for the transformation of NGOs into TMFIs help improve the financial sustainability and the breadth of outreach of microfinance activities. However, this transformation hinders the depth of the services provided by TMFIs. This is especially significant in the case of bank-TMFIs and suggests that although the transformation might increase the financial independence of TMFIs, it might cause a mission drift that both NGOs and policy-makers ought to consider.     

Scrutinizing impacts of conspiracy theories on readers' political views: a rational choice perspective on anti‐semitic rhetoric in Turkey

Although conspiracy theories have been politically significant throughout history, only a few empirical studies have been about their influence on readers' views. Combining a rational choice approach with a content analysis of an anti‐Semitic best‐selling conspiracy theory book series in Turkey – the Efendi series – and semi‐structured interviews with its readers, this paper reveals the effects of the conspiracy theories on readers' political perspectives. The findings suggest that whereas the rightists are reactive to the Jewish origins of the Dönmes, the leftists oppose the Dönmes as dominant bourgeois figures. This paper concludes that left‐ and right‐wing adherents use the conspiratorial accounts in line with their political views and ontological insecurities. It expands the existing academic literature, which conceptualizes conspiracy theories either as paranoid delusions or as neutral, rational narratives, by showing that they can be both.     

Corporate governance and the market reaction to stock repurchase announcement

This paper investigates the effect of corporate governance on market reaction around of a stock repurchase announcement. We argue that corporate governance affects the ability of a stock repurchase to alleviate agency costs related to free cash flows, and the credibility of the undervaluation signal sent by the announcement of buyback programs. We find a higher 3-day cumulative abnormal return to programs announced by firms with better corporate governance practices than those with bad governance (1.6% and 0.85% respectively), and the market reaction is significantly higher following the successive scandals in year 2001 (Enron, Arthur Anderson, WorldCom??) and the resulting Sarbanes?COxley Act of 2002. Further investigations indicate that firms with a lower Free Cash Flow to Asset ratio have a higher market reaction, which is consistent with the information signaling hypothesis, and this is more significant in firms with good governance practices, and following post Sarbanes?COxley Act.     

Additive regression model for stationary and ergodic continuous time processes

The main purpose of the present work is to introduce and investigate a simple kernel procedure based on marginal integration that estimates the regression function for stationary and ergodic continuous time processes in the setting of the additive model introduced by Stone (1985 Stone, C.J. (1985). Additive regression and other nonparametric models. Ann. Stat. 13(2):689–705.[Crossref], [Web of Science ®] , [Google Scholar]). We obtain the uniform almost sure consistency with exact rate and the asymptotic normality of the kernel-type estimators of the components of the additive model. Asymptotic properties of these estimators are obtained, under mild conditions, by means of martingale approaches. Finally, a general notion of the bootstrapped additive components, constructed by exchangeably weighting sample, is presented.     

An Insurance Model for Risk Management of Process Facilities

Most existing risk management models for process industries do not consider the effect of insurance coverage, which results in an overestimation of overall risk. A model is presented in this article to study the effect of insurance coverage of health, safety, environmental, and business risks. The effect of insurance recovery is modeled through the application of adjustment factors by considering the stochastic factors affecting insurance recovery. The insurance contract's conditions, deductibles, and policy limits are considered in developing the insurance recovery adjustment factors. Copula functions and Monte Carlo simulations are used to develop the distribution of the aggregate loss by considering the dependence among loss classes. A case study is used to demonstrate both the practical application of the proposed insurance model to improve management decisions, and the mitigating effect of insurance to minimize the residual risk.