scholarly journals The Social Value of Financial Expertise

2019 ◽  
Vol 109 (2) ◽  
pp. 556-590 ◽  
Author(s):  
Pablo Kurlat
Keyword(s):  
Asymmetric Information ◽  
Social Value ◽  
Capital Inflows ◽  
Sufficient Statistics ◽  
The Social ◽  
Financial Expertise ◽  
Bond Underwriting ◽  
Bad Assets ◽  
Private Value

I study expertise acquisition in a model of trading under asymmetric information. I propose and implement a method to measure r, the ratio of the marginal social value to the marginal private value of expertise. This can be decomposed into three sufficient statistics: traders’ average profits, the fraction of bad assets among traded assets, and the elasticity of good assets traded with respect to capital inflows. I measure r = 0.16 for the junk bond underwriting market. Since this is less than 1, it implies that marginal investments in expertise destroy surplus. (JEL D82, G11, G14, G21, L84)

scholarly journals Estimating the social value of higher education: willingness to pay for community and technical colleges

2014 ◽  
Vol 5 (1) ◽  
pp. 3-41 ◽  
Author(s):  
Glenn C. Blomquist ◽  
Paul A. Coomes ◽  
Christopher Jepsen ◽  
Brandon C. Koford ◽  
Kenneth R. Troske
Keyword(s):  
Higher Education ◽  
Willingness To Pay ◽  
Social Value ◽  
Point Estimate ◽  
College Level ◽  
Community And Technical College ◽  
Community And Technical Colleges ◽  
The Social ◽  
The Difference ◽  
Private Value

Abstract:Much is known about private financial returns to education in the form of higher earnings. Less is known about how much social value exceeds this private value. Associations between education and socially-desirable outcomes are strong, but disentangling the effect of education from other causal factors is challenging. The purpose of this paper is to estimate the social value of one form of higher education. We elicit willingness to pay for the Kentucky Community and Technical College System (KCTCS) directly and compare our estimate of total social value to our estimates of private value in the form of increased earnings. Our earnings estimates are based on two distinct data sets, one administrative and one from the U.S. Census. The difference between the total social value and the increase in earnings is our measure of the education externality and the private, non-market value combined. Our work differs from previous research by focusing on education at the community college level and by eliciting values directly through a stated-preferences survey in a way that yields a total value including any external benefits. Our preferred estimates indicate the social value of expanding the system exceeds private financial value by at least 25% with a best point estimate of nearly 90% and exceeds total private value by at least 15% with a best point estimate of nearly 60%.

The Social Value of Asymmetric Information Revisited

2019 ◽  
Author(s):  
Xue-Zhong 'Tony' He ◽  
Lei Shi ◽  
Marco Tolotti
Keyword(s):  
Asymmetric Information ◽  
Social Value ◽  
The Social

The Impact of Endorsing the Belief in a Just World on Social Judgments

2013 ◽  
Vol 44 (3) ◽  
pp. 209-218 ◽  
Author(s):  
Benoît Testé ◽  
Samantha Perrin
Keyword(s):  
Social Desirability ◽  
Social Value ◽  
Social Utility ◽  
Western Society ◽  
Social Judgments ◽  
Just World ◽  
The Social ◽  
Main Effect ◽  
The Impact

The present research examines the social value attributed to endorsing the belief in a just world for self (BJW-S) and for others (BJW-O) in a Western society. We conducted four studies in which we asked participants to assess a target who endorsed BJW-S vs. BJW-O either strongly or weakly. Results showed that endorsement of BJW-S was socially valued and had a greater effect on social utility judgments than it did on social desirability judgments. In contrast, the main effect of endorsement of BJW-O was to reduce the target’s social desirability. The results also showed that the effect of BJW-S on social utility is mediated by the target’s perceived individualism, whereas the effect of BJW-S and BJW-O on social desirability is mediated by the target’s perceived collectivism.

Disciplining Polenta: A Parody on the Politics of Saving Food

2020 ◽  
Vol 20 (2) ◽  
pp. 1-11
Author(s):  
Zachary Nowak ◽  
Bradley M. Jones ◽  
Elisa Ascione
Keyword(s):  
Food Products ◽  
Social Value ◽  
Traditional Food ◽  
Traditional Foods ◽  
Time And Space ◽  
Historical Sources ◽  
Scholarly Literature ◽  
Identity Creation ◽  
The Past ◽  
The Social

This article begins with a parody, a fictitious set of regulations for the production of “traditional” Italian polenta. Through analysis of primary and secondary historical sources we then discuss the various meanings of which polenta has been the bearer through time and space in order to emphasize the mutability of the modes of preparation, ingredients, and the social value of traditional food products. Finally, we situate polenta within its broader cultural, political, and economic contexts, underlining the uses and abuses of rendering foods as traditional—a process always incomplete, often contested, never organic. In stirring up the past and present of polenta and placing it within both the projects of Italian identity creation and the broader scholarly literature on culinary tradition and taste, we emphasize that for so-called traditional foods to be saved, they must be continually reinvented.

Cross-space Consumption among Undocumented Chinese Immigrants in the United States

2016 ◽  
Vol 2 (2) ◽  
pp. 158-182 ◽  
Author(s):  
Min Zhou ◽  
Xiangyi Li
Keyword(s):  
New York ◽  
Social Status ◽  
Chinese Immigrants ◽  
The United States ◽  
Ethnographic Study ◽  
Social Value ◽  
Left Behind ◽  
Currency Exchange ◽  
The Social ◽  
International Migrants

We consider cross-space consumption as a form of transnational practice among international migrants. In this paper, we develop the idea of the social value of consumption and use it to explain this particular form of transnationalism. We consider the act of consumption to have not only functional value that satisfies material needs but also a set of nonfunctional values, social value included, that confer symbolic meanings and social status. We argue that cross-space consumption enables international migrants to take advantage of differences in economic development, currency exchange rates, and social structures between countries of destination and origin to maximize their expression of social status and to perform or regain social status. Drawing on a multisited ethnographic study of consumption patterns in migrant hometowns in Fuzhou, China, and in-depth interviews with undocumented Chinese immigrants in New York and their left-behind family members, we find that, despite the vulnerabilities and precarious circumstances associated with the lack of citizenship rights in the host society, undocumented immigrants manage to realize the social value of consumption across national borders and do so through conspicuous consumption, reciprocal consumption, and vicarious consumption in their hometowns even without being physically present there. We conclude that, while cross-space consumption benefits individual migrants, left-behind families, and their hometowns, it serves to revive tradition in ways that fuel extravagant rituals, drive up costs of living, reinforce existing social inequality, and create pressure for continual emigration.

scholarly journals The Social Balance Sheet as Part of the Annual Report in Financial Institutions. A Case Study: Banco Bilbao Vizcaya Argentaria (BBVA)

2021 ◽  
Vol 13 (6) ◽  
pp. 3075
Author(s):  
Miguel Ángel Martín Valmayor ◽  
Beatriz Duarte Monedero ◽  
Luis A. Gil-Alana
Keyword(s):  
Annual Report ◽  
Economic Value ◽  
Balance Sheet ◽  
Value Added ◽  
Social Value ◽  
Economic Value Added ◽  
The Social ◽  
Social Balance ◽  
Corporate Social

In this paper, we examine the concept of the social balance sheet (SBS) and its evolution in corporate social reports that large companies have to issue today in their yearly statements. The SBS allows companies to evaluate their compliance with corporate social responsibility during a specific period and quantify its level of accomplishment. From a methodological perspective, this research analyzed the information that should be contained in the SBS report comparing economic value added (EVA) with other social value added statements (SVA), analyzing also in detail the case of Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) bank as one of the pioneers in offering social reports. Along with this study, their metrics following EVA were recalculated and a more academic SVA statement was proposed for this specific case.

scholarly journals Student Perception of the Social Value of Responsible Management

Societies ◽  
2021 ◽  
Vol 11 (1) ◽  
pp. 16
Author(s):  
Crisanta-Alina Mazilescu ◽  
Laurent Auzoult-Chagnault ◽  
Loredana Ileana Viscu ◽  
Bernard Gangloff
Keyword(s):  
Student Perception ◽  
Gender Effect ◽  
Social Value ◽  
Social Utility ◽  
Managerial Efficiency ◽  
Responsible Management ◽  
The Social ◽  
Societal Level ◽  
Technical University ◽  
Organisational Level

In responsible management, managerial efficiency and sustainable development meet and influence each other. In order to give meaning to their organisation, to respect and look after their collaborators, a manager must promote a set of values on a personal, organisational and societal level. The purpose of this paper is to study the social value attributed to responsible management by students of a technical university. We have therefore undertaken to study a set of seven values attributed to responsible management and, more precisely, their utility and social desirability on a personal, organisational and societal level. The values have been operationalized with personality descriptors. The 60 participants in this study are students from a Romanian technical university. They had to assess, on four scales of seven points each (two for desirability and two for social utility), the value of a person characterised by one of the seven values attributed to responsible management. The results show us that efficiency is the value perceived by the students as being the most desirable for responsible management, and that in terms of social utility, agility is the most appreciated value. We found that there is indeed an effect of the context in which these values are perceived. Efficiency, audacity, dedication and integrity are perceived as more useful at an organisational level, while solidarity was perceived as more useful on a societal level. At the organisational level we also found a gender effect, in the sense that women appreciate people who are efficient, have integrity or are humble more than men do.

‘Story of one’s life and a tree of friends’ – understanding millennials’ information behaviour in social networks

2012 ◽  
Vol 38 (5) ◽  
pp. 489-497 ◽  
Author(s):  
Pam Read ◽  
Chirag Shah ◽  
Lupita S-O’Brien ◽  
Jaqueline Woolcott
Keyword(s):  
Social Relationships ◽  
Social Space ◽  
New Technology ◽  
Social Groups ◽  
Social Value ◽  
Face To Face ◽  
Comprehensive Literature Review ◽  
The Social ◽  
Rich Data ◽  
Work Supports

Exploring ways in which new technology impacts adolescents’ information behaviours and creates a social space requires holistic investigation. A qualitative study of 21 seniors in an upper-middle-class suburban high school revealed highly individualized use of Facebook and its features. These included: (i) Friends groups of 50—3700 members, with even the largest groups representative primarily of face-to-face connections, and (ii) a clear articulation within those groups of various categories, each with its own distinct communicative channel and style. A meaningful connection was found between the social value of various social network (SN)-mediated relationships and the communicative modes used to maintain and enhance them. Through a comprehensive literature review and clearly grounded analysis of rich data, this work supports the contention that adolescent social groups in which SNs are embedded form a distinct domain, and establishes a rationale for further investigation of adolescents’ contextualized use of SNs within social relationships.

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