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We examine compensation for endowment Chief Investment Officers (CIOs) overseeing portfolios with significant allocations to alternatives. We find widespread use of bonuses and that large endowments with high alternative allocations hire CIOs with stronger backgrounds, pay them more, and have higher pay-for-performance sensitivity. We find weak evidence of a relationship between compensation and future performance. Our results align with contract theory predictions but differ from empirical findings on pension funds. Endowments pay CIOs more, rely more on bonuses, attract more experienced professionals, and have lower turnover than pensions. This suggests more effective talent management compared to politically influenced public pensions.
Previous studies have identified diverse risk and protective factors of youth involvement in delinquency. However, less is known about the causes of this phenomenon in the context of political conflict. Drawing from theoretical frameworks emphasizing the notion of social resistance, in the current study we examine the risk and protective factors of juvenile delinquency in the context of majority–minority political conflict. Applying multilevel analysis to survey data provided by a representative sample of 814 Arab youth from East Jerusalem, we find that, although this behaviour shares similar lines with juvenile delinquency in regular contexts, in the context of political conflict it bears a unique core of resistance to the social order. Specifically, we find that a strong predictor of juvenile delinquency is attitudes towards political violence, whereas, surprisingly, attitudes towards general violence do not have a significant effect. Our findings suggest that juvenile delinquency in the context of social conflict stems, at least partially, from a unique mechanism of resistance towards political order.
In 1492, Peter Martyr d'Anghiera, the future author of “De Orbe Novo,” sent a letter to Cardinal Pedro González de Mendoza, the primate of Spain, describing the state of Spanish education as Martyr took up a post as court tutor. This study argues that Martyr's letter was a satire that relied upon a close intertextual relationship with Juvenal's “Satires.” This framework allowed Martyr to offer layered analyses of Spanish Latinity, the dynamics between Spanish and Italian humanists, patronage, and the role of arms and letters in noble life. Martyr's letter revealed a complex, and sometimes contradictory, assessment of court education, as well as an active reception of Juvenal.
Public procurement is often used to achieve policy goals beyond the purchase of the required goods and services. These goals include the economic advancement of minorities, the promotion of fair labour practices and climate action. In the last two decades, many countries have used public procurement to advance gender equality. This is referred to as gender-responsive procurement and is often implemented through the award of public contracts to women-owned businesses. While many countries have legal provisions designed to increase the award of public contracts to women, gender-responsive procurement is extremely limited and women-owned businesses are not fully integrated into public sector supply chains. This is unfortunate, given that gender-responsive procurement can improve women's economic empowerment, with implications for sustainable development. This article adopts a gender equality and women's economic empowerment lens to examine the legal, policy and cultural barriers to gender-responsive procurement and recommends measures to improve the award of public contracts to women-owned businesses.
The purpose of this study was to measure the prevalence of use of driver monitoring systems among U.S. adults, and factors influencing their adoption. One in five U.S. adults has used driver monitoring, primarily to obtain a discount on insurance. Safety benefits and financial incentives are likely to influence adoption.