This dissertation consists of two topics. Chapter 1 explores the relationship between firm transparency and managerial behaviors of the U.S. Property-Casualty (P&C) insurers. Using data between 1996 and 2015, we test whether credit rating agencies (CRAs) provide useful information to monitor insurers’ loss reserve management behaviors as watchdogs. In addition, we investigate how insurers recognize the rating difference given by different CRAs. We find that holding a rating does not necessarily affect insurers’ reserve management behaviors. However, loss reserve estimation tends to be more accurate as more ratings are given to an insurer. Such findings suggest that multiple CRAs stimulate insurers to accurately estimate their reserves through the enhanced monitoring function. We also find a marginal impact of rating difference on an insurer’s loss reserve estimation. Firms with rating difference tend to underestimate their loss reserves. Nevertheless, this does not considerably deteriorate the reserve forecast accuracy. Although the Sarbanes–Oxley Act (SOX) aims at regulating publicly traded firms, it seems to affect over the market. Our empirical results show that insurers’ reserve estimation accuracy is improved after the enactment of the SOX. Moreover, the enactment of SOX alleviates an under-reserving behavior of firms with rating difference. Chapter 2 investigates the derivative practice of the U.S. life insurers. Over the last two decades, derivatives have been used extensively as a risk management tool in the financial market. In the U.S. insurance market, life insurers have accounted for over 95% of total derivative transactions, a proportion much higher than that in other countries. However, there are only a few prior studies examining the practical use of derivatives in the U.S. life insurance market. In addition, several limitations exist in terms of data they used (single-year, outdated, and inaccurate). In this study, we compile accurate derivative transaction data by taking a close look at the underlying asset and the traded market. We then examine the determinants of derivative (swap in particular) participation and the extent of transactions using samples from 2001 to 2015 which includes major events such as the U.S. financial crisis and the Dodd-Frank Act. We find that the determinants of derivative/swap participation are different from those of transaction volumes. We also find that the impact of the financial crisis on derivative usage is very limited in the life insurance market. However, the enactment of the Dodd-Frank Act not only reduces the likelihood of swap participation but also stagnates the growth of the swap transaction volumes, while the total derivative transaction volumes are significantly increased. Such findings indicate that the costs of the new regulation outweigh its benefits, due to the inefficient and inadequate regulatory changes. / Business Administration/Risk Management and Insurance

The study addressed three basic problems. First, the effectiveness of incumbent special education administrators in Virginia had not been assessed. Second, the qualifications of incumbent special education administrators in Virginia had not been determined. Third, requirements for special education administrators in Virginia had not been developed, despite the recommendation of Berquist, et al., (1987) following their evaluation study of special education programming across the state. The study was designed to assess effectiveness by gathering perceptions of the quality of the knowledge and skills demonstrated by special education administrators. The study was designed to gather information on special education administrator's status in regard to two standard qualifications for positions in educational agencies, i.e., endorsement(s) held and amount of position-specific coursework taken. The study was designed to generate recommendations regarding requirements for special education administrators based upon the results of an analysis of effectiveness (demonstrated knowledge or demonstrated skill) by qualifications (endorsement and coursework [in administration and supervision of special education]). / Ed. D.

This study consisted of two field experiments and examined how managerial evaluations may be influenced by the gender and gender-role behavior of the person being evaluated. Literature streams in the domains of leadership, performance evaluation, grievance arbitration, and criminology were reviewed and integrated to derive a conceptual framework. The research hypotheses focused on how male and female managers would differ in their evaluations of male and female target persons in two different contexts. Two cases, each approximately three pages long, were written for the purpose of this study. In both cases, the gender and gender-role behavior of the target person were manipulated. A pilot study, in which 255 students responded to the case of the grievant and 290 students responded to the case of the manager, waS carried out to test the psychometric properties of the scales as well as the integrity of the gender-role manipulation. The results indicated the success of the manipulations. The evaluation measures of interest were found to have high reliabilities. In the actual study, research subjects consisted of 129 unit directors or higher level administrators working for the Virginia Cooperative Extension. The subjects were asked to respond to both cases and evaluate the target persons. The sequence in which the cases were presented was built into the design of the study. There were no significant findings pertaining to the proposed hypotheses. Other results indicated that in the grievance resolution context, female unit directors rated aggressive male workers lower than aggressive female workers on performance and abilities. Relative to male unit directors, female unit directors gave aggressive lower-level male workers unfavorable evaluations. In the context of evaluating managers, female unit directors relative to male unit directors more favorably evaluated the democratic manager. The difference between male and female unit directors was larger when they evaluated the same-sex democratic manager. Female unit directors gave the democratic female manager higher evaluations than those given to the democratic male manager by male unit directors. The discussion focuses on the implications of results for conceptual and theoretical development in the gender bias literature, as well as what the results may mean for organizations and practicing managers. The potential limitations of the study are identified, and the study is concluded with suggestions for future research. / Ph. D.

The accountability movement in education has lead to performance based evaluations for teachers, principals, and district superintendents (Hanson, 1985). Although central office administrators serve a critical leadership role in the school system (Wimpleberg, 1987), little research has focused on this group of administrators. To be effective, an evaluation system must be supported by the total environment of the organization; without use of evaluation at the highest level of the school system, acceptance of its use at lower levels will be impeded (Bolton, 1980). The purpose of this study was to examine board policies and administrative procedures used to evaluate the "superintendent's cabinet"--central office administrators who report directly to and are evaluated by the superintendent. Specifically, the study addressed 1) board policies and administrative procedures currently used, 2) differences among districts, and 3) procedures considered desirable in evaluation of the cabinet. The population consisted of the 139 school districts that were members of either Mid-Urban Superintendents Association or National Federation of Urban-Suburban School Districts. Policies and procedures were examined via responses to a census questionnaire and through analysis of documents. Data were analyzed using descriptive statistics, cross tabulations, and chi-square tests. Formal evaluation of central office administrators was mandated by the state or specified in board policy in more than two-thirds of the districts. The average superintendent's cabinet consisted of 7 members. Evaluation occurred annually, was used for multiple purposes, and was obtained through various methods. Few differences occurred among districts related to size of the district. Currently used procedures were rated as most desirable by the superintendents. / Ed. D.

The O*NET was built to replace the Dictionary of Occupational Titles (DOT) and form a highly accessible, on-line (through the World Wide Web), common language occupational information center (Dye & Silver, 1999). This study tested the relevance of the self-rating choice and unconventional BARS format to be used by the O*NET system for occupational ratings. In addition, a new rating scale format named NBADS, was tested for improved ratings. Fifty three Incumbent raters in two occupations (Graduate teaching assistants and Secretaries) and 87 laypeople raters who have never worked in these occupations, rated 21 item-pairs (Importance and Level type questions) picked randomly from the 52 items on the original O*NET Ability questionnaire. Participants rated each of the 21 item-pairs three times, with the Level question being presented in the O*NET BARS, a Likert GRS and the NBADS formats; The importance type question was always rated using a 1-5 Likert scale. Hypothesis 1a was supported, showing a significant leniency bias across formats for self-ratings. Hypothesis 1b was mostly supported, failing to show significant leniency, elevation error or interrater agreement improvement over laypeople ratings; only the overall-error measure showed a significant improvement for incumbent raters. Hypothesis 2 was not supported, failing to show that the GRS format had any improvement on leniency, accuracy or interrater agreement over the O*NET BARS format. Hypothesis 3a was supported, showing significant leniency reduction, accuracy error reduction and higher interrater agreement using the NBADS format over the GRS format. In a similar sense, hypothesis 3b was partially supported, showing reduction in leniency effect and higher agreement using the NBADS format over the O*NET BARS format. Finally, hypothesis 4 was mostly supported, showing hardly any significant differences in the ratings of the Importance type question across the three format sessions, strengthening the idea that no other interfering variables have caused the format sessions' differences. Implications of the results are discussed. / Master of Science

Attribution theory has been used to explain the responses of individuals to others behavior. Previous research has shown that attributions for performance can influence rater's judgments and the sex of the ratee has been shown to influence the attributions made for performance. Discrepant information was used to cue the formation of attributions and these attributions were predicted to mediate the relationship between the subjects' existing view of a manager's performance and subsequent performance ratings. It was hypothesized that different attributions would be made depending on the sex of the manager and the direction of the discrepant information (positive or negative) and that these attributions would be related to performance ratings. First, no relationship between attributions and performance ratings was found. Second, the expected pattern of attributions was only found for the female manager/positive discrepancy condition. Finally, performance ratings within the positive and negative discrepancy conditions did not differ as a function of sex. Limitations of this study, possible explanations of the current results, and suggestions for future research are discussed. / Master of Science

Instant puddings were prepared using ultra-high-temperature (UHT) processed and conventionally (HTST) processed milk at 6°C and 23°C in six replicates of a 2X2 factorial design to determine the effect of milk type and temperature on apparent viscosity and gel strength of pudding. Apparent viscosity was estimated from linespread readings on separate 25 ml samples of pudding measured at 0, 5, 10, 15, and 30 minutes after preparation. Gel strength was determined from penetrometer readings on separate warm and refrigerated 100 ml samples of pudding measured at 15, 30, 60, and 90 minutes after preparation. Consumer evaluations of flavor and texture of the puddings were obtained as well as word descriptors of UHT milk by those consumers who had tried the product. A five-point hedonic scale of 1=dislike extremely to 5=like extremely was used by 200 consumers to register their perceptions of flavor and texture of the puddings. Apparent viscosity was greater with HTST milk, warm milk, and longer elapsed time. The combination of cold milk and shorter time was least viscous. Gel strength of refrigerated pudding was greater for HTST milk, cold HTST, and longer time. Nonrefrigerated pudding was firmer for HTST milk and cold milk. Shortest time resulted in softest gel strength, with no difference between other time periods. Although values from objective measures differed between puddings made with UHT and with HTST milk, consumer responses to the texture and the flavor of the puddings were similar for the four milk type by temperature variations. / M.S.

Due to the great complexity of VHDL models that are created today, the amount of processing time required to simulate these models and the amount of labor required to develop these models have become critical issues. The amount of processing time required to simulate a model can be directly influenced by the efficient use of VHDL concepts in creating the model. This dissertation presents an approach to aiding the modeler in the development of more efficient VHDL models. This is done by measuring the simulation efficiency of process-level VHDL behavioral models. Research in the determination of what VHDL constructs and modeling styles are most efficient is presented. The development and use of a tool that parses VHDL behavioral models and reveals the efficiency of the code in the form of a numerical efficiency rating is also presented. / Ph. D.

The Virginia Cooperative Extension Service is considering a set of procedures to evaluate agent performance. In an attempt to help this consideration process, this study was undertaken to investigate the standards of the Performance Review, Analysis and Planning (PRAP) system. Adaptations of the FRAP system have been utilized by Extension organizations in other states. However, validation procedures have not been conducted by those states. Because of the history and concerns of the Cooperative Extension Service in Virginia, this research effort focused on the effects of race and gender in assessing the level of performance described in the PRAP standards and the relevancy of the standards to the job of an Extension agent. Also studied were the effects of program area, position, and employment location of the rater. Both quantitative and qualitative methodologies were used in the study. The sample for the quantitative portion of the study consisted of the Virginia Extension field staff population. An eighty-three percent (83%) instrument return rate was experienced. The qualitative portion involved twelve field interviews with agents in two of the six Extension administrative districts. The PRAP standards were found to be relevant to the job duties and responsibilities of Extension agents in Virginia. Furthermore, no significant differences were found by program area, position, or geographic location of employment. Significant statistical differences were found by gender and race. Qualitative evidence was found to support the race differences, however, differences by gender were not found in the qualitative data. / Ed. D.

It is the purpose of the writer to discover if there is any significant difference between the teacher ratings of boys and girls with equated intelligence quotients. And if such differences are found to exist, an attempt will be made to determine to what extent they prevail.