This article examines the market reaction of the main Property and Casualty (P & C) insurance companies listed in the New York Stock Exchange (NYSE) to seven most recent hurricanes that hit the East Coast of the United States from 2005 to 2012. For this purpose, we run a standard short horizon event study in order to test the existence of abnormal returns around the landfalls. P & C companies are one of the most affected sectors by such events because of the huge losses to rebuild, help and compensate the inhabitants of the affected areas. From the financial investors’ perception, this kind of events implies severe losses, which could influence the expected returns. Our research highlights the existence of significant cumulative abnormal returns around the landfall event window in most of the hurricanes analyzed, except for the Katrina and Sandy Hurricanes.

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This paper describes an innovative experience based on the citizen participation as a fundamental principle of the Open Government, regarding the strategic planning in higher education institutions. Such innovation lies on two main pillars: the stakeholders' approach (versus the traditional product-service orientation) and a web platform based on UserVoice R and Wordpress R software. The web platform was designed not only for building up a consensual strategic plan in a medium-sized Spanish public university, but also to monitor and control it once implemented. During the participation stage, all the proposals were openly discussed and voted by the whole university community. One year later, the online platform for monitoring the Strategic Plan was re-launched in order to rate, comment and vote the values reached by the key performance indicators. The adoption of such technological tools turns into a sound practice of governance for sustainable strategic management, by encouraging the collaborative workflow, participation, reflection and learning. Moreover, it promotes the stakeholders' identification with corporate goals and enhance their commitment to the university's strategic plan.

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Clinical risk includes any undesirable situation or operational factor that may have negative consequences for patient safety or capable of causing an adverse event (AE). The AE, intentional or unintentionally, may be related to the human factor, that is, medical errors (MEs). Therefore, the importance of the health-care risk management is a current and relevant issue on the agenda of many public and private institutions. The objective of the management has been evolving from the identification of AE to the assessment of cost-effective and efficient measures that improve the quality control through monitoring. Consequently, the goal of this paper is to propose a Key Risk Indicator (KRI) that enhances the advancement of the health-care management system. Thus, the application of the Value at Risk (VaR) concept in combination to the Loss Distribution Approach (LDA) is proved to be a proactive tool, within the frame of balanced scorecard (BSC), in health organizations. For this purpose, the historical events recorded in the Algo-OpData® database (Algorithmics Inc., Toronto, ON, Canada, IBM, Armonk, NY, USA) have been used. The analysis highlights the importance of risk in the financials outcomes of the sector. The results of paper show the usefulness of the Clinical-VaR to identify and monitor the risk and sustainability of the implemented controls.