The Impact of New Capital Requirements on the Portfolio Decisions of Finnish Pension Institutions

This paper examines the potential impact of new capital requirements on asset allocations of Finnish pension institutions. We describe the new requirements and consider portfolio construction to minimize regulatory capital, given the investor’s preferred level of expected return. Results identify portfolio transactions that enhance expected return without increasing capital needs. Regulation calls for portfolio diversification and prudence in management, but this paper shows that market participants can exploit inconsistencies in regulation. Possible future consequences include capital outflows from the pension system and an unintended decrease in pre-funding of old-age pensions.

Managers Talk about Gender: What Managers in Large Transnational Corporations Say about Gender Policies, Structures and Practices

Mainstream research on management generally continues to ignore gender relations. Even so, over recent years there has been a major growth of international research on gender relations in organizations. Yet, most of this has focused on gender relations in lower or middle levels rather than at the apex of the organization. This book draws on research on gender policies, structures and practices of management in large Finnish corporations. It builds on earlier survey work of gender policies in the 100 largest corporations in Finland, to examine, through qualitative interviews, more detailed gendered processes in seven selected corporations. These represent corporations that are ‘relatively active’, ‘moderately active’, and ‘not active’ in relation to gender equality. Key issues include contrasts between formal policies and organizational practices; different corporate contexts and individual managers’ views; definition and scope of gender policy; and the relation of gender policies and diversity policy. This focus on gender policies is understood and located within organizational structures, most obviously gendered corporate hierarchies. Important structures include national context in relation to transnationalization, relations of headquarters and subsidiaries, and interrelations of management, policy development and policy implementation. Gender relations in practice and gender practices are considered in more detail. These women and men managers operate at the intersections of gendered transnational managerial work, careers and family-type relations, including marriage and children, or lack thereof. Women and men managers may be part of the same management levels or management teams, but have totally different family-type situations and gendered experiences. Interconnections of management, domestic life and transnationalizations are intensely gendered matters. The debate on the public/private continues to be important for both gender relations and organizational relations, but complicated through transnationalizations. The modern transnational corporation is considered in terms of gender divisions and gender power, with particular reference to top management. The concluding discussion notes implications for research and policy.

International Portfolio Investments and The Informational Value of Trade

A large volume of literature suggests that information asymmetry resulting from the spatial separation between investors and investments have a significant impact on the composition of investors’ domestic and international portfolios. I show that institutional factors affecting trading in tangible goods help explain a substantial portion of investors’ spatial bias. More importantly, I demonstrate that an information flow medium with breadth and richness directly linked to the bilateral commitment of resources between countries, that I measure by their trading intensity in tangible goods, is consistent with the prevailing country allocation in investors’ international portfolios.

The Impact of FDI on International Portfolio Investments

Some empirical research has argued that part of the reason for the observed "home bias" is that investors are able to indirectly achieve internationally diversified portfolios via domestically listed multinational firms. Another branch of this research attributes the "home bias" and country allocations to more deeply rooted informational causes. Using a four-year annual panel of Finnish international portfolios and Foreign Direct Investments in twenty-five countries, I provide evidence consistent with an information asymmetry explanation

Importancia de la cartera de referencia en la evaluación de los fondos de inversión españoles a través del alfa de Jensen

Este trabajo ha sido presentado como ponencia en el XI Congreso Internacional de la Asociación de Dirección y Economía de la Empresa (AEDEM), celebrada en París en septiembre de 2002.

Huntingdonshire Regional College: e-Portfolio system motors students to success and improves organisational efficiency

By introducing the OneFile e–portfolio system, the Motor Vehicle department at Huntingdonshire Regional College has revolutionised its teaching and learning delivery, improved organisational efficiency, and helped students achieve qualifications quicker. Bundles of paper have been scrapped, students can now upload video and audio as reflective evidence, and assessors no longer have to go on unnecessary visits to collect papers and signatures. What's more, the department has saved time and money, diversified learning and made an impact on its carbon footprint.

IPv6 technical summary for network managers

Aimed at network managers who are responsible for managing the network infrastructure for their organisation and want come understanding of the issues involved in enabling IPv6. JL

Leap2A: Enabling e-portfolio portability

Leap2A is an open specification for transferring learner-owned information between different systems. e-Portfolio tools and systems are now widely used by learners to present evidence of learning, achievements and abilities for many purposes, including application for a job or university, assessment or professional accreditation. This briefing provides an overview of the benefits, summary of systems that have supported Leap2A, further information on data portability and links to further resources.

Crossing the Threshold: Moving e-portfolios into the mainstream

Crossing the Threshold, one of a series of advice and guidance publications, is designed to support use of the online e-Portfolio Implementation Toolkit and video case studies by those involved in wide-scale implementation of e-portfolios in their institutions. As the resources address the needs of both managers and practitioners, the publication has relevance for a wide range of readers in further and higher education and work-based learning. To assist the planning and effective management of a large-scale e-portfolio implementation, Crossing the Threshold follows the stages of an implementation journey with insights and guidance drawn from the toolkit and its supporting case studies. Links are provided throughout the publication to more detailed information in the two online resources.