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The purpose of this study is to investigate the effects of increased fund commitments on portfolio size and subsequent effects on portfolio success rates. This paper empirically analyzes the changes in average portfolio size over a 20‐year time period and how these changes affect the venture capitalists' ability to successfully exit their investments.

The authors utilize venture capitalists' fund level data and conduct both univariate and multivariate analysis. The multivariate analysis is conducted using a two‐limit regression tobit model. This is justified since the authors' dependent variable is a ratio bounded by zero and one, hence the tobit specification is the most appropriate methodology.

The authors find that increasing the size of portfolios not only leads to a decrease in the number of successful investments but also significantly affects portfolio success rates. They also find evidence which suggests that some optimal portfolio size exists.

The sample was limited to independent private partnerships that raised funds specifically for investment in US portfolio companies and it represents all funds maintained in the SDC database with non‐missing data on fund size and other fund characteristics.

There are three main practical implications derived from this study. First, venture capitalists overextend themselves by investing in too many portfolio firms. Second, some optimal portfolio size exists beyond which success rate of the venture capitalist's portfolio declines. Third, portfolio size is an important determinant of venture capital portfolio success rates.

The study presents new evidence that venture capitalists have a tendency to increase their portfolio size in years following growth in fund inflows, an idea that has not been investigated earlier. The authors also use data that is not adulterated by significant economic and financial conditions such as internet bubble burst of 2000 and financial crisis of 2007/2008.

Leslie Kenton examines three companies which have taken such theories as ‘job enrichment’ and ‘employee participation’ and fashioned them into workable ‐ and profitable ‐ techniques. Derek Bryan (right) recalls that the process took seven painstaking years and was at first resisted by middle management and supervisors.

Life is made up of debits and credits, as Kipling wrote, long accounts have to be paid — mistakes, misconduct, misdeeds, all the mischief and harm they cause, exact payment which has to be met by someone, not necessarily those that cause the trouble; all too often by innocent victims. The recent industrial strife, destruction and violence, despite the plausible excuses for it, will have disastrous results, a colossal debit in the nation's accounts; and the mass of the people, the vulnerable groups including several millions of elderly pensioners, the handicapped and sick, are under no illusions who will have to pay. The posturing defiance — “heads held high”, bands playing martial music — the complete lack of concern or regret for others will make no difference to the overtaking retribution.

At the commencement of this decade, leaving behind the “striking seventies”, we christened it the “anxious eighties”, for there was a profound disquiet and uncertainty among most of the population, a fear that things were going to get worse, but they could have hardly expected the catastrophic events of the year 1981. The criteria of quality of life are its richness, grace, elegance; by the promise it contains; inspiration and purpose, hope, determination (to survive, to make certain that the evildoer is not permitted to succeed), love of one's country — pro patria, of other days.

Proposes to treat social law contracts by covering the two most important aspects of the contract of employment, and also the collective agreement. Covers the contract of employment in full with all the integral laws explained as required, including its characteristics, written particulars, sources or regulations, with regard to employers, are also covered. Lengthy coverage of the collective agreement is also included, showing legal as well as moral (!) requirements, also included are cases in law that are covered in depth.

Working as a teacher and an educational psychologist in England and in Iceland for a number of years, I slowly realised that I had to abandon much of what I had learned during my training in psychology and research methodology. The social world of school children was simply far more complex and uncharted for the known theories and methods to suffice. I had to function at a different level to that of a traditional scientist or a clinical psychologist if only to be accepted by the children I worked with let alone gain answers to the type of questions I had been asking for some time (Marinósson, 1998): Why are so many children and youths disaffected by school since the purpose of education is ostensibly to serve their needs? How do children who find their life in school difficult perceive the school and other people there? How do the adults at school understand these pupils and their work? What shapes their reactions in the school context?

Safety precautions in the use of raw materials, in manufacturing and processing, marketing and enforcement of food and drug law on purity and quality may appear nowadays to be largely a matter of routine, with manufacturers as much involved and interested in maintaining a more or less settled equilibrium as the enforcement agencies. Occasionally the peace is shattered, eg, a search and recovery operation of canned goods of doubtful bacterial purity or containing excess metal contamination, seen very much as an isolated incident; or the recent very large enforcement enterprise in the marketing of horseflesh (and other substitutions) for beef. The nationwide sale and distribution of meat on such a vast scale, only possible by reason of marketing methods — frozen blocks of boneless meat, which even after thawing out is not easily distinguishable from the genuine even in the eye of the expert; this is in effect only a fraud always around in the long ago years built up into a massive illicit trade.

Michigan State University developed an undergraduate, academic specialization in sustainability based on the learning paradigm. The purpose of this paper is to share initial findings on assessment of systems thinking competency.

The 15‐week course served 14 mostly third and fourth‐year students. Assessment of learning arose through one short answer exam, one interactive small group dialogue exam, homework assignments, completion of an online community engagement tutorial, and completion of a final reflective project (either in a group or individual).

The range of assessments enabled the authors to provide “frequent and ongoing feedback,” “a long time horizon for learning,” and “stable communities of practice.” Students had multiple opportunities to demonstrate their learning progress in a variety of forms and contexts across multiple intelligences.

Despite attempts to actively promote the kind of frequent and authentic assessment advocated in the literature, the authors' results suggest the need for a consistent and valid assessment measure with an agreed upon rubric and stable assessment across multiple reviewers.

The authors recommend that the proper activities and rubrics exist to match a program's competencies before implementing the approach.

The examples described in the paper provide some concrete assignments and approaches linked to the pedagogy of teaching and learning amenable to many other educational institutions in support of the UN Education for Sustainable Development effort.

The authors' approach provides a unique attempt at implementing and assessing a competency‐based approach to implementing the learning paradigm to foster sustainability systems thinking.

BY February most of the parties, which are a gracious feature of modern libraries, are over. They arise from Staff Guilds, which now in most libraries associate the workers, and some of them are on a large scale. We have been represented at only a few of these but there seems to be a great fund of friendliness upon which the modern librarian can draw nowadays. An interesting one was that of the National Central Library Staff which, by a neighbourly arrangement, was held at Chaucer House. A reunion has been held of old and new members of the Croydon Staff Guild and no doubt there were many others. One New Year party was a small but notable dinner at Charing Cross Hotel where the 100th issue of The Library Review was toasted eloquently by the President of the Library Association and amongst the guests were Mr. C. O. G. Douie who was secretary of the Kenyon Committee of the 1927 Library Report and well‐known librarians and journalists. To us it was notable for the assertion by Mr. R. D. Macleod that amongst the young writers were too many who wrote glibly but without that research which good professional writing demanded; but he was sure that where intelligent industry was shown any article resulting would find a place in library journals.