Does Opaqueness Make Equity Capital Expensive for Banks?

Bank managers often claim that equity is expensive, which contradicts the Modigliani-Miller irrelevance theorem. An opaque bank must signal its solvency by paying high and stable dividends in order to keep depositors tranquil. This signalling may require costly liquidations if the return on assets has been poor, but not paying the dividend might trigger a run. A strongly capitalized bank should keep substantial amounts of risk-free yet non-productive currency because the number of shares is high, which is costly. The dividend is informative of the state of the bank; rational depositors react to it.

Low educational attainment in Portugal : intergenerational transmission of a big problem. 'El bajo nivel educativo en Portugal : la transmisión intergeneracional de un gran problema'.

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Unprotected time of early adolescence and intergenerational relations : a new educational issue. 'E tiempo sin protección de los jóvenes de la Unión Europea'.

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Doing multicultural education for achievement and equity.

Escrito por dos de los fundadores y más eminentes estudiosos que trabajan en la educación multicultural, este libro ofrece, desde una perspectiva constructivista del desarrollo personal y del aprendizaje, ayuda a los profesores para desarrollar herramientas con las que aprender de sus alumnos, y de sus comunidades y contextos de procedencia. Se anima al lector a interactuar con el texto a través de ejercicios de reflexión, diálogos y críticas. También, adopta un papel activo en la promoción de la igualdad en la educación y ayuda a los profesores a convertirse en profesionales cualificados y humanitarios.

Effective schools, equity and teacher effectiveness : a review to the literature. 'Escuelas eficaces, equidad y eficacia docente : una revisión de la literatura'.

Monográfico con el título: 'Eficacia escolar y equidad'. Resumen basado en el de la publicación

Rhetoric, best wishes and reality : education in Latin America : the challenge of equity and quality. 'Retórica, buenos deseos y realidad : educación en Latinoamérica : el desafío de la equidad y la calidad'.

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Equity in the higher fees era : a case study of English universities

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The equity aspect within the framework of the assessment of the quality of Higher Education : developing indicators to identify students with a higher risk of failure at university with a view to improving equality of chances of succes

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Efficiency and Equity in Learning Communities and schools

Traditionally, school efficiency has been measured as a function of educational production. In the last two decades, however, studies in the economics of education have indicated that more is required to improve school efficiency: researchers must explore how significant changes in school organization affect the performance of at-risk students. In this paper we introduce Henry Levin’s adoption of the X-efficiency approach to education and we describe the efficient and cost-effective characteristics of one Learning Communities Project School that significantly improved its student outcomes and enrollment numbers and reduced its absenteeism rate to zero. The organizational change that facilitated these improvements defined specific issues to address. Students’ school success became the focus of the school project, which also offered specific incentives, selected teachers, involved parents and community members in decisions, and used the most efficient technologies and methods. This case analysis reveals new two elements—family training and community involvement—that were not explicit parts of Levin’s adaptation. The case of the Antonio Machado Public School should attract the attention of both social scientists and policy makers

Access, equity and the role of rights in health care

Modern health care rhetoric promotes choice and individual patient rights as dominant values. Yet we also accept that in any regime constrained by finite resources, difficult choices between patients are inevitable. How can we balance rights to liberty, on the one hand, with equity in the allocation of scarce resources on the other? For example, the duty of health authorities to allocate resources is a duty owed to the community as a whole, rather than to specific individuals. Macro-duties of this nature are founded on the notion of equity and fairness amongst individuals rather than personal liberty. They presume that if hard choices have to be made, they will be resolved according to fair and consistent principles which treat equal cases equally, and unequal cases unequally. In this paper, we argue for greater clarity and candour in the health care rights debate. With this in mind, we discuss (1) private and public rights, (2) negative and positive rights, (3) procedural and substantive rights, (4) sustainable health care rights and (5) the New Zealand booking system for prioritising access to elective services. This system aims to consider: individual need and ability to benefit alongside the resources made available to elective health services in an attempt to give the principles of equity practical effect. We describe a continuum on which the merits of those, sometimes competing, values-liberty and equity-can be evaluated and assessed.

Intergenerational effects of birth weight on glucose tolerance and reproductive performance

Women who were themselves small-for-gestational age (SGA) are at a greater risk of adulthood diseases such as non-insulin-dependent diabetes mellitus (NIDDM), and twice at risk of having an SGA baby themselves. The aim of this study was to examine the intergenerational pig. Low (L) and normal (N) birth weight female piglets were followed throughout their first pregnancy (generation 1 (0)). After they had given birth, the growth and development of the lightest (I) and heaviest (n) female piglet from each litter were monitored until approximately 5 months of age (generation 2 (G2)). A glucose tolerance test (GTT) was conducted on G1 pig at similar to 6 months of age and again during late pregnancy; a GTT was also conducted on G2 pigs at similar to 4 months of age. G1 L offspring exhibited impaired glucose metabolism in later life compared to their G1 N sibling but in the next generation a similar scenario was only observed between I and n offspring born to G1 L mothers. Despite G1 L mothers showing greater glucose intolerance in late pregnancy and a decreased litter size, average piglet birth weight was reduced and there was also a large variation in litter weight; this suggests that they were, to some extent, prioritising their nutrient intake towards themselves rather than promoting their reproductive performance. There were numerous relationships between body shape at birth and glucose curve characteristics in later life, which can, to some extent, be used to predict neonatal outcome. In conclusion, intergenerational effects are partly seen in the pig. It is likely that some of the intergenerational influences may be masked due to the pig being a litter-bearing species.

When school is not enough: new initiatives in intergenerational language transmission in Wales

This paper examines language reproduction in the family in the context of a highly innovative project in Wales, where the Welsh language has been in decline for over a century. Although Welsh-medium schooling has played a pivotal role in slowing and even reversing language shift in recent decades, there is mounting evidence of the dangers of over-reliance on education. The Twf (Growth) Project was established in 2002 with funding from the National Assembly for Wales with the aim of raising awareness of the benefits of bilingualism among parents and prospective parents. Analysis of interviews with the main stakeholders in the project (managers, the Twf project officers, parents, health workers and a range of other partners), publicity materials and observations of project staff at work suggests that the achievements of the project lie in two main areas: the recognition of the need for building strong alliances with professional groups and organisations that work with families with young children; and the development of a marketing strategy appropriate for the target audience. It is argued that the experience of the project will be of interest to those addressing the issue of intergenerational transmission in a range of other minority language settings.