Creating Opportunities: The State of the Nonprofit Sector in Los Angeles 2007

Provides an annual analysis and statistical review of the state of the nonprofit sector in the region, explores current policy and budget developments impacting the sector, and seeks to inform debate about the sector's current and future role

Palmer & Harvey: A Case of Governance and Audit Failure

Palmer & Harvey (P&H) is a recent example of a UK corporate failure which raises questions about current corporate governance practice, the quality and integrity of audit reporting, and the “sugar coating” of Annual Reports. P&H is but one example of UK firms currently struggling to survive, or failing. The paper presents some details about the P&H case, and then considers questions about corporate governance practice, and whether it is designed to truly safeguard the interests of stakeholders; it raises questions about conventional audit reporting, and whether it is too limited in its analysis and reporting. The paper recommends a strengthening of corporate governance guidelines and practice within the terms of the current Financial Reporting Council (FRC) review, and a wider adoption of forensic accounting practice and reporting, in part taking account of the impact of behavioural factors in management practice. A wider study is proposed to take this analysis and discussion further

The government fails to fund nonprofit human services in poor, African American neighborhoods

Much of the social safety net in the United States relies on partnerships between the service-providing non-profit organizations and the government, which funds those organizations serving high poverty areas. Eve Garrow examines how effective these partnerships are in serving impoverished neighborhoods, and finds that greater levels of neighborhood poverty improve the chances that nonprofit human services located in them will receive government funding—unless those neighborhoods are substantially African American. Based on these findings, she argues that the privatized welfare state may underserve neighborhoods where the need is greatest

White flight lowers the presence of nonprofit human services in minority neighborhoods

In recent decades, neighborhood segregation by race has been on the rise, with many whites leaving areas with increasing minority populations. Eve E. Garrow investigates the effects of this so-called ‘white flight’ on nonprofit services. She finds that as whites leave neighborhoods, this can lead to a fall in the number of local nonprofits. She argues that this may be due to a reduction in an area’s political influence and stakeholder’s perceptions that the neighborhood has become more isolated and prone to neglect

Evaluating the Effect of Top Management Attributes on the Probability of Default

A few studies have focussed on the relationship between the top management team and probability of firm default. This research aims to evaluate the effect of CEO and CFO attributes, as top management, on the firm's probability of default. The research adopts a quantitative research methodology, of 642 companies on the FTSE all Share index. The findings show that as remuneration and tenure increased the probability of default decreased. This research proposes a regression model that ascertains the causal effect of an increase in the tenure and compensation of the Top Management Team on the Probability of default of a firm over a 3-year period. The findings will have a direct implication on management tenure and remuneration for firms to reduce their probability of default. This research can be developed further by undertaking a time series analysis of the data to see how the changes over time would affect the relationships. Keywords: Top Management Team, Probability of Default, CEO, CFO, KM

Final state interactions in the electroweak nuclear response

I review the description of the electroweak nuclear response at large momentum transfer within nonrelativistic many-body theory. Special consideration is given to the effects of final state interactions, which are known to be large in both inclusive and semi-inclusive processes. The results of theoretical calculations of electron-nucleus scattering observables are compared to the data, and the generalization to charged current neutrino-nucleus interactions is discussed.Comment: Invited talk at NUINT05. To be published in Nucl. Phys. B Proceedings Supplemen