The European system of indicators is the result of the European Union sustainable development strategy, based on the objectives of economic prosperity, social equity, cohesion and environmental protection. In 2010 the EC defined four strategic priorities: encourage competitiveness in the tourism sector, promote sustainable high-quality tourism, strengthen the image of Europe as a tourism destination, and finally, improve EU financial policies and instruments. This paper aims to analyze in a positive critical perspective the experience done during the period 2013-2014 in the Italian destination Visit South Sardinia. This experience is in one hand an important primacy in Italy and in Europe, but in the other hand has not reached the expected objectives. Many difficulties were encountered both for data collection and for stakeholder involvement. Also the complexity of the indicators tool kit is relevant. Even if the experience of VSS did not produce the expected results, we believe that the analysis carried out in this paper can help and support other countries and or other destination in Europe in the process of implementation of the ETIS indicators tool kit in order to adapt the system itself to the needs that are encountered locally.

In the area of health, namely hospitals, we can agree that the intrinsic need to have multidisciplinary teams, highly specialized and indispensable resources leads us to a degree of complexity that requires, daily, the best performance, not running away from the logistics area to the rule. The centralization of resources, namely distribution warehouses, emerges as a challenge and possible solution for health institutions to respond in the best possible way to their main purpose: to put the right material in the right place at the right price in the right time space. As regards the advantages of this type of organization, there are several authors who argues that the need for human resources training, ease of coordination and the use of economies of scale are the main advantage. As far as the disadvantages are concerned, there is no special agreement on them, there are disparate factors from author to author, such as: routine, centralization, objectives or operation costs.

Abstract: The aim of this study was to compare the influence of corporate board characteristics on the extent of environmental disclosure quantity of listed firms in two leading emerging economies in Africa, South Africa (integrated reporting framework) and Nigeria (traditional reporting framework). Methods: The sample was comprised of 303 firms including environmentally sensitive companies purposively selected for content analysis study in South Africa (213) and Nigeria (90). We used both descriptive, multivariate and regression models to comparatively analyze the differences about corporate board characteristics as determinants of the extent of their environmental disclosure quantity. Results: The results reveal a more significant positive association between board characteristics and environmental disclosure in South Africa and less relevant association in Nigeria. Also, the results support that board independence arrangement may serve as bonding mechanisms in weak reporting environments, suggesting a substitutive relationship between board independence and the regulatory framework. Quiet revealing a board with environmental committee show a higher tendency to be ecologic transparent in both countries. However, in a traditional reporting framework, the environmental committee is not enough; its effect was insignificant and highly significant in the integrated reporting framework. Further revealed is the significant positive effect of industry membership influence on environmental disclosure. In all estimated models of South Africa sample show that 45% of environmentally sensitive industries significantly influence environmental disclosure, while 51% is environmentally polluting industries in Nigeria show less concern on environmental disclosure. Interestingly, Audit firm size (Big4) positively and statistically significantly associated with overall environmental reporting in both countries. The results are consistent with stakeholder theory, agency theory, institutional and legitimacy theory suggesting that a strong board size, independent members of the board with auditing experience, the active environmental committee in conjunction with solid audit reputation may reduce information asymmetry. Our findings will be helpful for policymakers and other regulators who are interested in environmental impact reporting.

Burning Man is probably the most famous art festival in the world. What started as a bonfire ritual for a small group of friends held on San Francisco beach in 1986, has evolved into an iconic event. Held annually for one week before the Labor Day weekend, the festival attracts over 60,000 participants each year and yields over $8 million in tickets and contributions.This preprint reveals some preliminary results from the economic analysis of Burning Man that is based on the unique data from over 500 surveys collected during several Burning Man events between 2012 and 2018.The paper’s main findings demonstrate that Burning Man is not some hippie get-together with lots of booze and drugs. Instead, it is a lucrative and exclusive event that is attended by bright, wealthy and well-educated people, both from the United States and abroad. A typical Burner is a 32-old childless male with a college degree and an average annual income above $100,000 who attended Burning Man at least two times before and who spends between $5,000 and $6,000 on tickets, fares, gear, and supplies.

As climate is not only a valuable tourism resource but also a factor influencing travel experience, estimating climate change can provide implications to sustainable development of the tourism industry. This study develops Climate Volatility Index (CVI) using GARCH model and estimates the relationship between CVI and Japanese tourism demand for Korea using a tourism demand model, based on data from January 2000 to December 2013. Time lag is applied based on a decision making process regarding travel destinations. The result shows that an increase in volatility of climate change leads to a decrease in tourism demand.

This article investigates if public investments in rural basic infrastructure represent the best strategy for boosting the local economy of rural communities from Romania. The article focuses on one specific program implemented under the Cohesion policy in the framework of the National Plan for Rural Development called Measure 322. Geographically, the research included a sample of rural communes from the North-Western Region of Romania. Moreover, the study also looks at other determinants of local economic development (LED) than infrastructure investments, with a focus on certain feature characterizing Romanian rural communities such as population size, isolation from urban centers, connection with European and national roads networks, educational stock, etc. The research included three steps, namely the construction of the LED Index, a cvasi-experimental research, and a regression model. Our main findings seem to suggest that while investments in infrastructure help the development gap between beneficiaries and non-beneficiaries remains relatively the same. In terms of determinants of LED, percentage of population with a university degree and connection to a European road are the most significant in the Romanian rural context.

Fresh water springs are unique natural resources in Florida, currently under threat from increasing groundwater pumping and pollution resulting from a variety of sources. This paper estimates current recreation benefits from visiting springs using the travel cost method and elicits residents’ willingness to contribute for springs restoration using the contingent valuation method. It further compares the performance of count data models correcting for endogenous stratification and truncation, and finds that the annual consumer surplus per person per trip is between $20 and $43. Furthermore, visitors are willing to contribute $12 to $14 per person per trip for springs restoration without reducing trip demand.

The concept of sustainable management in culture has been recognised in global strategic documents on sustainable development for more than a decade. It is also increasingly reflected in the cultural polices of particular states, and – very importantly –cultural managers responsible for shaping the cultural offer in cities are becoming more interested in this concept. Despite the increasing attention being paid to this topic among both practitioners and theoreticians of management, in none of these documents or other works can we find any content directly related to the possibility of applying this concept in a town which, due to political turmoil, has been divided by a national border. Hence, this gap was the direct impulse for taking up research in this field. In the article, by using different notions of the market, our own definition of a cross-border market for cultural services was developed, and the conditions for the functioning of this market were presented based on the example town of Cieszyn (Poland) and Český Těšín (Czech Republic). In the opinion of the authors of the article, the development and functioning of a cross-border market for cultural services is essential for the application of the concept of sustainable management of the cultural offer in a town divided by a border. For the purpose of the article, a survey and individual interviews with experts shaping the cultural offer in Cieszyn and Český Těšín were conducted. The results of the research prove that despite numerous cross-border Czech-Polish projects carried out by cultural institutions, there are still many barriers in the town which make it difficult for the residents to benefit from the cultural offer available on the other side of the border. These barriers limit the full implementation and application of the concept of sustainable management of the cultural offer.

The main aim of this paper is to explore the issue of big data and to propose a conceptual framework for big data, based on the temporal dimension. The Temporal Big Data Maturity Model (TBDMM) is a means for assessing organization’s readiness to fully profit from big data analysis. It allows the measurement of the current state of the organization’s big data assets and analytical tools, and to plan their future development. The framework explicitly incorporates a time dimension, providing a complete means for assessing also the readiness to process temporal data and/or knowledge that can be found in modern sources, such as big data ones. Temporality in the proposed framework extends and enhances the already existing maturity models for big data. This research paper is based on a critical analysis of literature, as well as creative thinking, and on the case-study approach involving multiple cases. The literature-based research has shown that the existing maturity models for big data do not treat the temporal dimension as the basic one. At the same time, dynamic analytics is crucial for a sustainable competitive advantage. This conceptual framework was well received among practitioners, to whom it has been presented during interviews. The participants in the consultations often expressed their need of temporal big data analytics, and hence the temporal approach of the maturity model was widely welcomed.

Water management can improve the quality of valuable ecosystem services but can be costly to implement and the management costs are covered by national taxes collected by water users. Based on 30 valuation studies of water quality improvement from the Environmental Valuation Information System (EVIS) database provided by Korea Environment Institute (KEI), a meta-regression analysis was employed to measure the benefits that major river basins provided to the society. We compare these benefits to the costs, namely River Management Funds (RMFs) which are financial resources to support a variety of projects for managing and improving upstream water quality. Based on benefit-cost comparison, this study evaluates the efficiency of water resource management in South Korea. This study also provides policy options that are helpful to maintain the sustainability of water resource by improving the planning and performance of water management in the long run.

Global financial investments in energy production and consumption are significant since all aspects of a country's economic activity, and development require energy resources. In this paper, we assess the investment trends in the global energy sector during, before and after financial crises of 2008 using two data sources: (1) Dealogic database providing cross‐border mergers and acquisitions (M&As), and (2) fDi Intelligence fDi Markets database providing greenfield (GF) foreign direct investments (FDIs). We highlight the changing role of China and compare its M&A and GF FDI activities to those of the United States, Germany, UK, Japan and others during this period. We analyze the investments along each segment of the energy supply chain of these countries to highlight the geographical origin and destination, sectoral distribution, and cross‐border M&As and GF FDI activities. Our paper shows that while energy accounts for nearly 25% of all GF FDI, it only accounts for 4.82% of total M&A FDI activity in the period 1996-2016. China's outbound FDI in the energy sector started its ascent around the time of the global recession and had accelerated in the post-recession phase. In the energy sector, the development of China's outbound cross‐border M&As is similar to USA or UK, located mostly in the developed countries in the west, while their outbound GF investments are spread across many countries around the world. Also, China's outbound energy M&As are concentrated in certain segments (extraction, and electricity generation) while their GF covers all segments of the energy supply chain.

Intersectoral and intermunicipal cooperation are still underdeveloped spheres of public and economic development policies. Academic discussions are invariably focused on pro-competitive activities, the economic efficiency of which is not always sufficient. In this paper the authors attempt to identify factors leading to cooperation between local government authorities and economic entities, focusing on examples from the forest and wood-based sector in Poland. These processes are analysed in the framework of the New Institutional Economy, both in the theoretical and practical context.

Damage to crops from wildlife interference is a common threat to food security among rural communities in or near Game Management Areas (GMAs) in Zambia. This study uses a two-stage econometric model and cross-sectional data from a survey of 2,769 households to determine the impact of land use planning on the probability and extent of wildlife-inflicted crop damage. The results show that crop damage is higher in GMAs as compared to non-GMAs, and that land use planning could be an effective tool to significantly reduce the likelihood of such damage. These findings suggest that there is merit in the current drive to develop and implement land use plans as means to minimize human-wildlife conflict such as crop damage. This is especially critical as Zambian conservation policies do not have an explicit provision for compensation in the event of damage from wildlife.

This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Angola, Libya and Nigeria. Three different oil price data were applied in this study; the specific spot oil price of individual countries, the OPEC reference basket oil price and an average of the Brent, WTI and Dubai oil price. The dynamic panels ARDL were used to estimate the short and the long-run impacts. Also, this study partitioned the oil price into positive and negative changes to capture asymmetric impacts and found both positive and negative oil price changes positively influenced inflation. However, the impact was found to be more significant when oil prices dropped. The results from the study also found that money supply, the exchange rate and GDP are positively related to inflation while food production is negatively related to inflation. Accordingly, policymakers should be cautious in formulating policies between the positive and negative changes in oil prices as it was shown that inflation increased when the oil price dropped. Additionally, the use of contractionary monetary policy would help to reduce the inflation rate, and lastly, it is proposed that the government should encourage domestic food production both in quantity and quality to reduce inflation.

This paper examines the indirect effect of democracy on economic growth using a dataset of 17 MENA countries from 1990 to 2015. Democracy is assumed to affect growth through a series of channels: education, health, physical capital accumulation per labor, government consumption, and trade openness. A system of six simultaneous equations, 3SLS, is used to estimate the effect of democracy on growth through these channels. For further analysis, the countries are classified into groups according to the democratic status on the one side, and the level of income on the other. The results indicate that democracy enhances growth through its positive effect on health in all classifications of countries within the MENA region. However, the effect of democracy on growth through education and physical capital/labor is non-monotonic. Democracy always hinders growth through government size and trade openness. Once all of these indirect effects are accounted for, the overall effect of democracy on growth is negative in less democratic countries and poor countries, but positive in more democratic countries and rich countries.

This study was conducted to investigate the status of regional linkage in tourism development in in the Midlands and Northern Mountains of Vietnam. The data was collected from a survey of 755 people, including officials from State management bodies in charge of tourism, officials and staffs at tourism resorts, tourism firms, tourism scientists and tourists. In addition, we conducted 10 group discussions, interviewed 30 State tourism agency officials and tourism firms in the Midland and Mountainous provinces of Vietnam. The results show that tourism development in Vietnam in general and the Northwest region in particular is extremely fragmented, not yet forming a regional linkage; Regional and national tourism development programs are just formalistic. The main cause of the situation is the limited regional integration policy in Vietnam, the lack of appropriate regional governance mechanisms and inactive participation of the private sector in regional integration. Based on the findings, we propose a tourism sector linkage model; besides, policy implications are given for fulfilling the linkage policy in the Midlands and Northern Mountains area.

Cardamom is one of important spice commodities in the world; however, Indonesia’s export contribution to global market is considered low. Cardamom production in Central Java contributes to the export of Indonesian cardamom. Central Java has the potential of human and natural resource for cardamom cultivation, but it has not been optimally utilized. This article aims to study the comparative advantages of cardamom and its sustainability. The design of this study is exploratory research, in which a research aims to obtain description or study on the condition of comparative advantage of cardamom in Central Java. Revealed Comparative Agency (RCA) belongs to one of methods used to find out competitiveness of commodity export of a country viewed from a comparative advantage. Cardamom sustainability is analyzed descriptively based on the actual situation and by using RCA result analysis. The result shows that the RCA value above 1 means in that period the cardamom commodity of Central Java has a strong comparative advantage in the international market. Despite the strong comparative advantage, its value tends to decrease. A serious concern should be given, considering the sharp decline. Therefore, the sustainability of cardamom comparative advantage needs to be improved.

The purpose of this study is to define destination social responsibility as a multidimensional construct and examine the relationships among DSR, tourists’ emotions, and their satisfaction through the lens of corporate social responsibility. A model was empirically tested with a sample of 359 random foreign tourists caught in Hoi An, Vietnam. The results indicate that all DSR dimensions, including economic, environmental, legal-ethical, and philanthropic responsibilities significantly enhance tourists’ emotions while only legal-ethical and philanthropic responsibilities directly affect tourists’ satisfaction. The findings also confirm the mediating effect of emotions between destination social responsibility and tourists’ overall satisfaction.

We present a non-linear non-homogeneous fitness-complexity algorithm where the presence of non homogeneous terms guarantees both convergence and stability. After a suitable rescaling of the relevant quantities, the non homogeneous terms are eventually set to zero so that this new method is parameter free. This new algorithm reproduces the findings of the original algorithm proposed by Tacchella et al. [1], and allows for an approximate analytic solution in case of actual binarized RCA matrices. This solution discloses a deep connection with the network theory of bipartite graphs. We define the new quantity of “country net-efficiency” quantifying how a country efficiently invests in capabilities able to generate innovative high quality products. Eventually, we demonstrate analytically the local convergence of the algorithm.

This paper studies a model of dynamic compensation and capital structure with managerial traits. We show that Optimistic manager perceives equity as more undervalued than debt, while, confident manager perceives debt as more undervalued than equity. Managerial risk aversion mitigates manager’s bias. The risk aversion of the optimistic manager has a convex effect on the optimal coupon. There exists the level of risk aversion eliminating the bias on the leverage. The managerial optimist has an ambiguous effect on the owner’s bankruptcy level. The risk aversion has a convex effect on the owner’s bankruptcy level. The optimistic/confident manager underestimates the credit spread. The risk aversion has convex effect on the credit spread. In contrast to rational manager, the optimistic/confident manger has higher level of effort. The risk aversion has a negative effect on the effort.

Given the contradiction between the current demands for sustainability and the way the financial system works, this paper explores in a retrospective and a prospective view the Romanian Public Finance Sustainability, highlighting the major challenges and vulnerabilities. For the retrospective part, we concentrate mainly on empirical tests on Romanian government solvency between the period 1986- 2016, by applying unit root and co-integration tests. To gain a better, general understanding of the behavior of policy-makers, in the second part we use a scenario analysis of budgetary adjustment in the short and medium run under alternative hypotheses. The results provide a formal proof that policy makers decisions face critical and complex questions and the way in which they manage fiscal stimuli have a direct implication on the sustainability of the country and on the lax implementation of fiscal policy.

In this article, management control has been studied from the perspective of intention towards sustainable development of companies. The main idea focuses on the analysis of relations between sustainable management control and the system of performance appraisal using as a reference the resource-based theory. These relations have been assessed both theoretically by reviewing literature in the field, and empirically based on data collected in a questionnaire from top management, as well as data from Annual Reports from the main segment of Bucharest Stock Exchange. The authors have shown that financial performance has a significant influence on management control, and the return on capital employed is one of the most recommended indicators. The sustainable nature attributed to management control is the result of institutional theory evolution, provisions of Directive 2014/95/EU and Guide of Global Management Accounting Principles (2015) using stewardship. Consequently, profits are not the main element any more in the assessment of financial „health” of a company. To ensure the sustainable success, sustainable balanced scorecard is one of real measures for managing financial and non-financial performance.

This paper highlights the impact of financial inclusion on individuals’ borrowing and saving decisions in the United States and the United Arab Emirates. It does so, using data from the 2014 Global Financial Inclusion database, and an empirical strategy consisting of first testing the significance of the joint bivariate model over its binary conterparts using the Lagrange multiplier test, followed by a contrast between the fully-parametric and semi-parametric specifications of the saving and borrowing equations. Based on model performance measures, the semi-parametric bivariate probit specification is identified as a better framework for describing the two processes of saving and borrowing, with a correlation coefficient of 12.3%. Although no significant difference exists between UAE and US residents in borrowing behavior, we find that US residents are 31.4% more likely to save than their UAE counterparts. In addition, and in line with the Permanent Income Hypothesis, the results reveal the absence of an income based saving or borrowing gradient in the two countries. Conversely, we found the prevalence of a gender based saving (12.4%) and borrowing (13.8%) inequality in favor of the male gender. Furthermore, access to a bank account and a debit card, companies policy of direct wage and salary transfer, and government transfer programs with direct deposit options are all financial inclusion strategies that are found to significantly raise the likelihood of saving and borrowing. As such, companies with payroll practices based on cash or physical paycheck issuing, especially in the US, should revise such policy to create more financial inclusion, and thereby more saving potential which in turn would contribute to further borrowing, investment and growth of the national economy.

Measuring farms sustainable innovativeness is a big challenge for both practitioners and academics. The need of sustainable innovativeness assessment in the agricultural business is reasoned in the article. Unfortunately, the features of the farms sustainable innovativeness measurement have not yet been investigated, and any objective methodology for innovativeness assessment is not presented as well. The objective of this article is to find possibility of use some methodology for measuring farm sustainable innovativeness, which would allow ranking farms by this aspect. The article demonstrates the need for multi-criteria method of innovativeness measurement and substantiates the complex proportional assessment method (Copras) as the most appropriate for solution of indicated problem. The model for use of offered method is presented and the practical application of the model is submitted. The final result refuted the opinion that farm innovation depends only on the possibilities to invest funds in a certain area. Indeed, staff creativity and the position of the management regarding certain areas of business make an essential contribution to the sustainable innovativeness level in the agricultural organizations.

As the EU is moving towards a low carbon economy and seeks to further develop its renewable energy policy, this paper quantitatively investigates the impact of plausible energy market reforms from the perspective of bio-renewables. Employing a state-of-the-art biobased variant of a computable general equilibrium model, this study assesses the perceived medium-term benefits, risks and trade-offs which arise from an advanced biofuels plan, two exploratory scenarios of a more 'sustainable' conventional biofuels plan and a 'no-mandate' scenario. Consistent with more recent studies, none of the scenarios considered present significant challenges to EU food-security or agricultural land usage. An illustrative advanced biofuels plan simulation requires non-trivial public support to implement whilst a degree of competition for biomass with (high-value) advanced biomass material industries is observed. On the other hand, it significantly alleviates land use pressures, whilst lignocellulose biomass prices are not expected to increase to unsustainable levels. Clearly, these observations are subject to assumptions on technological change, sustainable biomass limits, expected trends in fossil fuel prices and EU access to third-country trade. With these same caveats in mind, the switch to increased bioethanol production does not result in significant market tensions in biomass markets.

In this paper, we use the Principal Components Logistic Regression as a technique to reduce the variables being used in Credit Scoring Modeling. Specifically, we construct two models in which greek enterprises are classified, through their credit behavior and we evaluate them, relying on real data. In general, we propose a general way to use PC Regression, in case that we have high correlations and categorical variables in the sample.

This paper examines a persuasion game between two agents with one-sided asymmetric information, where the informed agent can reveal her private information prior to playing a Battle-of-the-Sexes coordination game. We find that in the presence of strategic uncertainty in coordination there exists an equilibrium where there is no 'unraveling' of information. We provide a purification argument for this mixed strategy equilibrium to strengthen the central result, which is robust to several extensions, including both-sided asymmetric information and imprecise information revelation.

In 2014, a whistleblower reported that many U.S. veterans died while waiting for care at the Phoenix VHA. Problems with veteran’s care through 2018 reveal ongoing and systematic problem. In March 2018, the VA Inspector General identified critical deficiencies at the Washington, DC VA Medical Center including failures to track patient safety events accurately, ineffective sterile processing, and more than 10 thousand open or pending prosthetic / sensory aid consults. The VHA clearly has problems with access and quality in a budget-constrained environment. In this policy analysis, four separate interventions that address the gap between the magnitude as well as the use of the VHA’s fixed budget versus access and cost expectations are explored. These policy interventions include maintaining the status quo, returning to a “VHA-only” option, transitioning to a CMS central payer system, and consolidating care under the DoD TRICARE insurance plans. An objective evaluation suggests that extending TRICARE to veterans while phasing out the VHA’s care responsibilities, while politically unpalatable, would likely provide the best of four possible solutions under various criterion weighting schemes. A central payer solution under the CMS would also be viable consideration. A Friedman’s test with Wilcoxon rank sum post-hoc tests suggests that TRICARE patient perceptions of quality are superior to VHA and non-VHA / non-DoD (p<.001), that access provided by the TRICARE program is ranked second in terms of venue acceptance only to the CMS solution set based on primary provider acceptance, and that the cost per beneficiary of a TRICARE solution ($6.5K / beneficiary) is far better than a VHA-only solution ($14.0 K / beneficiary), the CMS central payer solution ($12.2K / beneficiary), or the status quo (between $12.2K and $14.0K / beneficiary). The intent of this paper is to provoke thoughtful consideration of solutions for providing access to high-quality healthcare for veterans within our outside of the VHA. In this policy analysis, separate interventions that address the gaps between cost, quality, and access are explored. These policy interventions include maintaining the status quo, returning to a VHA-only option, transitioning to a CMS central payer system, and consolidating care under TRICARE.

This paper compares the finite sample performance of three non-parametric threshold estimators via Monte Carlo method. Our results show that the finite sample performance of the three estimators is not robust to the relative position of the threshold level along the distribution of threshold variable, especially when a structural change occurs at the tail part of the distribution.

This paper investigates how and to what extent European and national policies, through the analysis of financial support derived from the Common Agricultural Policy (CAP) (First and Second Pillar) and national and local subsidies, have financed Italian agritourism. For this purpose, the authors have proposed a comparative analysis between Italian agritourism and farms without tourism activities, by stressing the distribution of public financial supports concerning the 2007-2013 programming period of the European Union (EU) for Rural Development. The empirical analysis is based on the Italian Farm Accountancy Data Network (FADN) dataset. The data were stratified by altimetry zone and farm size. Descriptive statistics and the Analysis of Variance (ANOVA) for each group were used. The main results show how the Second Pillar has mainly supported small and medium-sized farms with tourism activities and located in disadvantaged areas. This study could be useful to policymakers regarding evaluation of the mission for diversification in agriculture, represented here by the carrying out of tourist activities on farms and the contribution for the retention of small-scale farms in marginal areas.

Given the increase in consumers’ preferences for coffee, it is becoming important to understand their decision-making processes in the coffee chain context. To deepen the understanding of sustainable outcomes in this context, this study investigates the role of dedication- and constraint-based mechanisms in forming consumers’ repurchase and positive word-of-mouth (WOM) intentions, two critical sustainable outcomes. We examined the effects of coffee quality, the quality of the physical environment, and service quality in accelerating the formation of dedication-based factors. Moreover, this study offers an in-depth understanding of the enablers of perceived switching costs. Data collected from 238 university students that frequently visit coffee chains are empirically tested against the proposed theoretical framework by using structural equation modeling. The results confirm that both dedication- and constraint-based factors substantially predict consumers’ sustainable outcomes in the coffee chain context. Brand image and perceived switching costs play an important role in enhancing consumers’ repurchase and positive WOM intentions compared with customer satisfaction. Coffee quality is significantly associated with both customer satisfaction and brand image, whereas the quality of the physical environment and service quality are only significantly associated with brand image. Habit is found to be the key enabler of perceived switching costs, while loyalty programs have no significant impact on perceived switching costs.

Building on the Sustainable Happiness Model, this study examined how congruency between ideal self-image and brand image influence a sense of happiness. The findings show that when ideal self-image and ideal social self-image are congruent with brand image a sense of happiness can be enhanced through brand identification and positive emotions. This study contributes to literature as it reveals the mechanism of how congruency between ideal self-image and brand image positively affect happiness.

Using hierarchical regression analysis within a mediation model framework, the present study explores direct and indirect (through life satisfaction) causal impacts of commuting stress on turnover intention of employees from 29 business organizations in six populous cities of Turkey. A semi-random heterogeneous sample of 214 employees with different demographics was surveyed in winter and summer times for also capturing seasonal variations of variables. The results supporting the partial mediating role of life satisfaction in the positive relationship between commuting stress and turnover intention infer that commuting stress induces turnover intention directly and indirectly (by reducing life satisfaction). The analysis of variance reveals that demographic characteristics of employees such as gender, marital status, age, and family size together with commuting type and commuting duration matter for their perceived commuting stress, life satisfaction, and turnover intention levels. Commuting stress perception is relatively higher in summer time whereas the other magnitudes are consistently and significantly invariant between two survey implementations. The study concludes with a call for the consideration of commuting stress and life satisfaction together with environmental and demographic factors when analyzing the antecedents and consequences of employee turnover intention.

The Science-Sustainability poses an interdisciplinary paradox. On the one hand, the science for sustainability has increased in OECD economies in and in China as well as in the US in particular; on the other hand; the sustainability situation has worsened (Co2 emission has risen). On the face value, the adverse correlation shows a paradox. However, without explicating the science-sustainability relationship, it leads to a premature conclusion. In this study, we have drawn on three concrete questions for concrete answers. First, whether and how interdisciplinary sciences—energy science and environmental science—contribute to the sustainability. Second, whether and how the Sino-US inter-institutional analysis varies in the science-sustainability paradox. The empirical analysis from a panel data in the interdisciplinary and inter-institutional context show mixed patterns in three ways. First, the increase in the environmental science shows an improvement in the sustainability; the energy science shows a decline in the sustainability. Second, the Chinese environmental science has a comparative advantage to American environment science for the sustainability development, and the Chinese energy science has a comparative disadvantage to the US in the sustainability development. Third, the environmental science mediates the energy science in the science-sustainability relationships. Standing alone, the increase in the energy science harms sustainability; mediated by environmental science, it benefits sustainability. The study explains the adverse role of energy science in Jevons Paradox. The study also offers some policy paths for further research how capitalisms differently innovate, form strategies, and implement the practice.

This article explores the synergies and progression of feminism towards a comprehensive, emancipatory and sustainable policy from a theoretical point of view, particularly from a radical gender focus, suggesting the masculinist theory as a complement in the fight against the patriarchal-capitalist system, whose greatest achievement was to use a ‘feminist rhetoric’ with no feminist content, which implies a hidden reconfiguration, even more patriarchal, of the geographical borders of countries from the notion of State-nations to the entrepreneurial-nations. A theoretical model is proposed to analyse the adoption and compliance feminist behaviour in order to identify the uncompliant and unsustainable behaviour, that is, the friendly machismo or feminism light. Finally, in a preliminary manner, the foundations of a new masculinist theory and policy will be listed as a necessary step towards a deeply feminist and radical emancipatory policy.

This paper studies the spatial joint evolution of cooperative behavior and a partially assortative matching institution that protects cooperators. We consider cooperation as characterized by a cultural trait transmitted via an endogenous socialization mechanism a la Bisin and Verdier (2001) and we assume that such trait can diffuse randomly in space due to some spatial noise in the socialization mechanism. Using mathematical techniques from reaction-diffusion equations theory, we show that, under some conditions, an initially localized domain of preferences for cooperation can invade the whole population and characterize the asymptotic speed of diffusion. We consider first thecase with exogenous assortativeness, and then endogeneize the degree of social segmentation in matching, assuming that it is collectively set at each point of time and space by the local community. We show how relatively low cost segmenting institutions can appear in new places thanks to the spatial random diffusion of cooperation, helping a localized cultural cluster of cooperation to invade the whole population. The endogenous assortative matching institution follows a life cycle process : appearing, growing and then disappearing once a culture of cooperation is suffciently established in the local population.

This study evaluates literature on the wheel of audit partners in Chinese companies and institutions by examining the impact of relationships before and after the rotation between the input and output partners. We consider the partners in the rotation before the rotation, before the work relationship. We find two different results from the previous working relationships: (a) increasing the likelihood of the outgoing partners after the cooling period, and (b) reducing the quality of the audit and lower accounting after the rotation. These findings ask whether the rotational partners are truly independent of the working relationships.

Balanced and coordinated economic development across regions is a critical goal of regional economic development and new-type urbanization in China. However, few studies have examined economic growth convergence clubs at the county level. To extend the research on convergence clubs, this research applies a log t convergence test and a dynamic spatial ordered Probit model (DSOP) to endogenously identify economic growth convergence clubs in counties and to examine the influence of initial states and structures on club convergence probability. The study sample covers 2286 counties of China from 1992 to 2010. The results show significant convergence club patterns at the county levels, resulting in the gradual formation of six convergence clubs. The DSOP estimation results show that per capita fixed assets, population density and industrialization have promoted convergence club formation to varying degrees.

This survey paper discusses the Cointegrated VAR methodology and how it has evolved over the last 30 years. The first section is a description of major steps in the econometric development of the CVAR model that facilitated serious real world applications. The next three sections are primarily methodological and discuss (i) difficulties and puzzles when confronting theory with the data, (ii) the formulation of a viable link between theory and the data, a so called theory-consistent CVAR scenario, and (iii) how all this was inspired by Trygve Haavelmo and his Nobel prize winning monograph "The Probability Approach to Economics". The next two sections discuss early applications of the Cointegrated VAR model to monetary transmission mechanisms, international transmission mechanisms and wage, price and unemployment dynamics. They report puzzling evidence, discuss the need for new theory, and propose a method for combining partial CVAR analyses into a larger macroeconomic model. The following sections propose a new, empirically-based, approach to macroeconomics in which imperfect knowledge based expectations replace so called rational expectations and in which the financial sector plays a key role for understanding the long persistent movements in the data. The last section argues that the CVAR can act as a "design of experiment for passive observations" and illustrates with several applications including unemployment dynamics under crises periods and aid effectiveness in South Saharan African countries.

The relationship between economic growth, growth volatility and financial sector development continues to attract attention in the theoretical and empirical literature. Over time, some studies hypothesize that finance has a causal linear relationship with growth. Recently several other authors contradict this claim and argue that the relationship that exists between finance and growth is nonlinear. We investigate these claims for Nigeria for the period between 1970 and 2015, using semi-parametric econometric methods, Hansen sample splitting techniques and threshold estimator. We observed no evidence of ‘Too much finance’ as claimed by many researchers in recent times. We show that the relationship between financial development and economic growth is U-shaped. This is equally true for the relationship between financial development and growth volatility. We also discuss policy implications of our findings and recommend financial innovations and decentralization of stock exchanges to boost access to financial services, in addition, improved regulation to enhance financial market efficiency.

Recent pollinator declines have focused efforts on their conservation which require clear estimates of pollination value to agriculture. Our socio-economic producer surveys and agronomic field research data were used to present a new way of estimating ecosystem service value of native pollinators. Using two regionally important U.S.A. crops, Maine wild blueberry and Massachusetts cranberry as models, we present perceived values of native bee pollinators from both consumer and producers. Wild blueberry’s Replacement Cost (RC) was greater than Attributable Net Income (ANI), since greater rented honey bee stocking densities are required. Attributable Net Income for native bees were similar for wild blueberry ($613/ha) and cranberry ($689/ha). Marginal Net Farm Income (MNFI) from incrementally adding more hives per ha was greater from stocking a third/fourth hive per ha for cranberry ($6,206) than stocking a ninth/tenth hive per ha for wild blueberry ($556), given greater responsiveness of yield, revenue, and profit to using rented honey bee hives in cranberry compared to wild blueberry. Both crops’ producers were only willing to annually invest $140–188/ha in native pollination enhancements on their farms, justifying government support. Consumers are willing to pay ~6.7 times more to support native bees than producers, supporting market-based support for invertebrate conservation.

The striving for sustainable development has become the goal of actions undertaken not only by representatives of public authorities and institutions representing this sector, but also representatives of private entities who are increasingly recognizing the benefits and sources of long-term development based on the principles and objectives of sustainable development. These are mainly based on the pursuit of synergy in the three basic areas of activities, i.e., in the economic, social, and environmental dimensions as well as in the maintenance of natural resources. The implementation of these activities is connected with the necessity of incurring financial expenditures, which the government (public sector) does not have in the required value. Therefore, in the process of sustainable development for which the government is responsible, the active participation of the financial sector (banks) is necessary. Achieving results within the alliance of the concept of sustainable development requires the setting of a kind of contract, the parties of which are the government, society, and financial institutions. The purpose of the conducted research is to indicate by which means the government can stimulate economic growth towards its sustainable development.

In the field of agricultural food production, the transition between organic and inorganic farming methods has been an issue of much debate. The debate, on one hand, stresses the urgency for the transition in order to preserve environment and health; and, on the other hand, emphasizes the pressure of maintaining food production for a large growing population. Thus, the dilemma is how to find an agricultural system that would balance between obtaining food security and ensuring a safe sustainably environment-friendly food production system. This article focuses on the debate, in the context of Bangladesh, and questions whether it is the proper time, and stage in the development process, to attempt the transition from inorganic conventional food production methods to organic food production methods. This article contemplates why the organic rice market is not expanding in Bangladesh, and attempts to explain the slow growth of the market through the two main factors of income constraint and lack of awareness among people about the environmental and health detriments of inorganic farming methods. The study is exploratory in nature, and finds that it is not mainly the lack of awareness but the income constraint that can be principally attributed to the slow expansion of the organic rice market in Bangladesh. Through exploring consumers’ awareness about organic farming methods and their demand for organic products, this study shows how income as the major constraint, besides price, affects consumers demand for organic and inorganic rice in Bangladesh. Income being identified as the major barrier reveals the potential of the organic rice market to grow in the future, as Bangladesh continues its journey towards becoming a middle-income country.

Conventional economic theory outlines that developing countries experience economic growth through an undervalued exchange rate and that exchange rate overvaluations has negative long term effects on economic growth. This paper examined the impact of exchange rate movements as well as exchange rate misalignments on economic growth for the Trinidad and Tobago economy over the period 1960 to 2016. We find statistically significant evidence that both exchange rate appreciation and misalignments impact negatively on economic growth in the T&T economy. Drilling deeper we find interestingly that there exist no non-linear effects of exchange rate misalignments on growth. Specifically we find statistically significant evidence that both overvaluations and undervaluations hamper economic growth in the Trinidad and Tobago economy. We attribute this to T&T’s small and underdeveloped manufacturing sector that tends to be overlooked on account of its energy resources, in addition to the fact that its manufacturing sector is highly import oriented. A major policy recommendation would be for the critical reassessment of the rules governing the HSF, as government expenditure was allowed to follow energy revenues due to its current limitations.

The current discussion about a “risk culture” in financial services was triggered by the recent series of crisis (from the US subprime mortgage crisis to the lock-in trap of central banks in the aftermath of the sovereign debt crisis). The last decade saw a long list of hybris, misconduct and criminal activities by human beings on a single or even a collective basis in banks, in the industry or in the whole economy. As a counter-reaction, financial authorities called for a guidance by a “new” risk culture in financial institutions based on a set of abstract, formal and normative governance processes. In the humanities, culture is a paraphrase for the behaviour in collectives and dynamics of organization found in human societies. Therefore, a “risk culture” should be a link between those normative guidelines and the positive “real-world” decision-making in financial services. This paper will focus on “risk culture” from the perspective of human beings interacting in dynamical and intertemporal commercial relations. In this context, “risk” is perceived by economic agents ex-ante as the consequence of the time-lag between the present and the uncertain future development (compared to a probability distribution calculated by observers ex-post). For all those individual decisions – to be made under uncertainty – future “risk” includes the so-called “normal accidents”, i.e. failures that will happen at some uncertain point in time but inevitable, and it is only the questions, when failure will happen and how to maintain function in the first line of defence. Finally, the sum of all decisions with individual responsibility for things to come is the positive economical context of a “risk culture” in the sense of the (rational) behaviour of an honourable merchant in long-term and repeated commercial relations in a merchant community, as this is a heritage of European business culture.

In 2014, a whistleblower reported that many U.S. veterans died while waiting for care at the Phoenix VHA. Problems with veteran’s care through 2018 reveal ongoing and systematic problem. In March 2018, the VA Inspector General identified critical deficiencies at the Washington, DC VA Medical Center including failures to track patient safety events accurately, ineffective sterile processing, and more than 10 thousand open or pending prosthetic / sensory aid consults. The VHA clearly has problems with access and quality in a budget-constrained environment. In this policy analysis, four separate interventions that address the gap between the magnitude as well as the use of the VHA’s fixed budget versus access and cost expectations are explored. These policy interventions include maintaining the status quo, returning to a “VHA-only” option, transitioning to a CMS central payer system, and consolidating care under the DoD TRICARE insurance plans. An objective evaluation suggests that extending TRICARE to veterans while phasing out the VHA’s care responsibilities, while politically unpalatable, would likely provide the best of four possible solutions under various criterion weighting schemes. A central payer solution under the CMS would also be viable consideration. A Friedman’s test with Wilcoxon rank sum post-hoc tests suggests that TRICARE patient perceptions of quality are superior to VHA and non-VHA / non-DoD (p<.001), that access provided by the TRICARE program is ranked second in terms of venue acceptance only to the CMS solution set based on primary provider acceptance, and that the cost per beneficiary of a TRICARE solution ($6.5K / beneficiary) is far better than a VHA-only solution ($14.0 K / beneficiary), the CMS central payer solution ($12.2K / beneficiary), or the status quo (between $12.2K and $14.0K / beneficiary). The intent of this paper is to provoke thoughtful consideration of solutions for providing access to high-quality healthcare for veterans within our outside of the VHA. In this policy analysis, separate interventions that address the gaps between cost, quality, and access are explored. These policy interventions include maintaining the status quo, returning to a VHA-only option, transitioning to a CMS central payer system, and consolidating care under TRICARE.

A global revolution in information and communication technologies (ICT) has occurred over the past few decades, emerging first in industrialized countries and then in developing countries. While researchers have examined many facets of the ICT revolution, relatively little work has systematically examined the degree to which ICT has reduced natural disaster vulnerability. In this article we use cross-country data over the 1980-2013 period to estimate the relationship between newly-emerging cell phone access/use and disaster-induced fatalities. Our estimates suggest that a one-standard-deviation increase in cell phone usage reduces disaster fatalities by nearly one half. The estimated effect increases to almost three quarters for geologic events where people are typically afflicted without warning. The largest marginal benefit from cell phones in terms of saving lives come from events where there is typically no warning, thus many are caught by surprise; cell phones are used to call for help and coordinate assistance.

The research investigates the role the environmental manager plays to ensure a successful (or not) implementation of environmental performance within an organization. It is based on interviews of 5-7 actors per company within a sample of 7 companies (42 interviews). We build upon bias of perception of the various actors interviewed within each company to define 4 paradoxes related to the roles and mission of the environmental manager that hinder proper efficiency of environmental management at company level. Paradox 1 is that no one takes ownership of environmental performance within the organization. Paradox 2 is that the environmental manager is in an awkward situation vis-à-vis his boss. Paradox 3 is that the role of the environmental manager is ambiguous vis-à-vis employees. Paradox 4 is that corporate and product approaches are decoupled. We suggest that these paradoxes interact and form a vicious cycle that may in part be responsible for the environmental decoupling phenomenon – the fact that companies often adopt a sustainability policy symbolically without implementing it substantively. Our research suggests that, by leveraging the leadership of the environmental manager through organizational and motivational measures, the vicious cycle can be transformed into a virtuous cycle and the human motivation can become a driver for green change within corporations. We proposed the SEA (Shaping Environmental Action) model based of 4 pillars: information, motivation, organization and strategy.

This study evaluates the input efficiency of greenhouse tomato and pepper farms in Kosovo. Using data collected from farm surveys, we conduct an input-oriented data envelopment analysis (DEA) to empirically assess input efficiency. Secondly, linear regression analysis is used to investigate which farm variables predict greenhouse tomato and pepper technical efficiency (TE). The DEA results indicated that among the seven regions in Kosovo, Prizren emerged as the most efficient greenhouse tomato producing region with a mean efficiency of 0.83 (on a scale of 0 to 1). Prishtina followed with a mean efficiency of 0.80. In the production of greenhouse peppers, Prishtina was the most efficient region with a mean efficiency of 0.99. Ferizaj followed with a mean efficiency of 0.93. Conclusions about farm characteristics that explain differences in efficiency were sensitive to model specification. Nevertheless, depending on the structural and operational characteristics of the greenhouse tomato and pepper farms, there is an opportunity for the technically inefficient farms and regions to improve their use of inputs.

Intersectoral and intermunicipal cooperation are still underdeveloped spheres of public and economic development policies. Academic discussions are invariably focused on pro-competitive activities, the economic efficiency of which is not always sufficient. In this paper the authors attempt to identify factors leading to cooperation between local government authorities and economic entities, focusing on examples from the forest and wood-based sector in Poland. These processes are analysed in the framework of the New Institutional Economy, both in the theoretical and practical context.

The move towards a new Circular Economy (CE) economic model has been advocated and supported in Portugal, however, there is limited research on this topic. To address this gap, a quantitative research based on an online survey was carried out among 99 Portuguese organizations, encompassing a wide range of sectors and sizes. The results show that CE is regarded as a strategic and relevant issue for profitability and value creation. Furthermore, the perception that it requires the adoption of new business models in addition to the classical “reduce, reuse, and recycle” approach is growing. Moreover, based on the hypotheses raised, results suggest that the level of CE adoption is positively impacted by the status of the EMS (Environmental Management System) certification and the willingness to improve the environmental performance and achieve a sustainable business model. However, CE activities are still relatively modest and a friendlier context (fiscal, legal, organizational, etc.) and the stronger support from supply chain agents and consumers are required. Future research should focus on how to design and shape the transition from a linear to a CE economy, and to ascertain if the positive attitude towards CE is materialized in changing the way business is done.

The competitiveness of domestic products at the regional or global market is one of the cornerstones of a country’s internationalcompetitiveness. In this regard, the assessment and analysis of the competitiveness of a country’s international trade becomes an important issue. Thus, development and diversification of the export potential of the country is viewed as one of the most important directions of the international trade policy of the given country. Therefore, another important task is the specialization of the country in the most efficient and competitive segments of the economy. The above-mentioned circumstances embody the fact, that the role of quantitative assessment of potential competitive advantages is important, as it allows determining to what extent certain factors influence on the formation of export capacity in the country. The main objective of the study is to determine the role of export competitiveness in the process of competitive advantages formation of a country. This study mainly focuses on quantitative analysis based on the calculation of Balassa index, determining the extent to which a country has a comparative advantage in producing and exporting certain goods. The study presents the example of the Republic of Armenia, the study covers the period between 2002- 2016. Based on the index calculation, it can be determined whether the country has "revealed" comparative advantage or not. The practical significance of the study lies in the fact that its main findings and conclusions arising from it can be used in assessing the export competitiveness of not only Armenia, but also for other countries or groups of countries.The outcomes and implication of the research can be used to improve the competitiveness of goods and services in the global market.

Does the choice of proxy for stock market development matter? This paper suggests that the growth effect of stock market development is sensitive to the choice of proxy and using alternative financial development indicators have practically no influence on the results. We found that using either the stock market capitalization to GDP ratio or the stock market returns; have a positive and significant effect on growth. However, we cannot make same conclusion when one uses either the ratio of total value of trades on the major stock exchanges to GDP or stock market turnover ratio to proxy for stock market development as the coefficient on these variables were found to be statistically insignificant. The indexes extracted from principal component analysis confirm the sensitivity of the effect to the choice of proxy. This finding suggest that stock market development is a conceptual terms, thus, representing it with single indicators make it impossible to identify which stock market development indicators have a significant positive growth effects.

The striving for sustainable development has become the goal of actions undertaken not only by representatives of public authorities and institutions representing this sector, but also representatives of private entities who are increasingly recognizing the benefits and sources of long-term development based on the principles and objectives of sustainable development. These are mainly based on the pursuit of synergy in the three basic areas of activities, i.e., in the economic, social, and environmental dimensions as well as in the maintenance of natural resources. The implementation of these activities is connected with the necessity of incurring financial expenditures, which the government (public sector) does not have in the required value. Therefore, in the process of sustainable development for which the government is responsible, the active participation of the financial sector (banks) is necessary. Achieving results within the alliance of the concept of sustainable development requires the setting of a kind of contract, the parties of which are the government, society, and financial institutions. The purpose of the conducted research is to indicate by which means the government and the financial sector can stimulate economic growth towards its sustainable development.

Declining water supply is the main cause of rising water fee for agricultural use. Moreover, in non-technical irrigation, poor irrigation infrastructure exacerbates water scarcity. Thus, the purpose of this study is to identify farmer willingness to pay for non-technical irrigation and its determinants. Structured questionnaire was used to collect data from 100 farmers. Contingent valuation method was employed to elicit farmer WTP and multiple linear regression was used to find its determinants. The result shows that farmer average WTP is Rp 3,055,168 /ha/year. It accounts for 20 percent of total farmer revenue and almost 20 times fee for technical irrigation. Economic and technical variables are the significant determinants of WTP while social variables seem insignificant to WTP. This result indicates high economic value of water, and to improve irrigation management we recommend establishing irrigation infrastructure gradually by mobilizing farmer resources (capital and management) and strengthening WUA.

This study aims to assess food security status of rural, peri-urban and urban households and role of socio-economic factors in ensuring food security. A survey was conducted to collect primary (quantitative) data from 630 respondents using proportionate sampling technique from Punjab, Pakistan. Cronbach’s Alpha reveals stability (>0.75) of data scale items. Using Dietary Intake Assessment (DIA), findings reveal urban households as highly food-secure whereas rural household as most vulnerable to food security at 2450kcal/day per person. Study indicates food price increase as the leading factor in preventing food security among households. Contrary, study identifies risk factors associated to food quality under the abundant availability and access as the new dimension to household food insecurity. Further, results of binary logit model show that socio-economic factors such as monthly income, total number of earners, education of household head and access to market are positively related with food security status whereas, social isolation, volatility in food prices and risk factors in food quality are negatively related with household food security. Therefore, study proposes educational orientation and entrepreneurial development as sustainable solution to ensure food security among masses. Besides, further country level researches are advised to deep delve the mounting menace of food security.

This paper has two objectives: the first, to analyze the mediating effect of teacher empowerment between innovation culture and innovation capacity, and between inclusive leadership and innovation capacity; the second, to analyze the moderating effects of the school context on the innovation capacity. Data were collected in a representative sample of secondary schools in Valencia, Spain. The research model adopted is structural equation modeling, using the partial least squares (PLS) technique. The model has confirmed that teacher empowerment mediates between innovation culture and innovation capacity and between inclusive leadership and the innovation capacity. It is found that the educational context does not moderate the relationships in the proposed analysis model. This paper emphasizes the role of teacher empowerment in educational innovation and extends the knowledge of culture and leadership in the school organization.

This paper proposes a new non-radial biennial Luenberger energy and environmental performance index (EEPI) to measure the EEP change in various Chinese cities. The sources of EEP change, in terms of technical efficiency change and technological change, are examined by Luenberger EEPI. The contributions from specific undesirable outputs and energy inputs to the EEP change are identified by means of the non-radial efficiency measure. The proposed approach is applied to evaluate the EEP of the industrial sector in 283 cities in China over 2010-2014. Factors influencing the emission abatement potential are investigated by employing geographically weighted regression (GWR) model. We find that 1) changes in EEP can be attributed to technological progress but that technological progress slows down across the study period; 2) the soot emission performance experiences a downtrend among four specific sub-performances in line with the truth that severe haze happened frequently in China; 3) the best performers begin to move from the coastal to inland cities with the less resource consumption and higher ecological equality; 4) cities with the strongest positive effect in regards to pollution intensity on emission abatement potential are located in the areas around the Bohai Gulf, where air pollution is particularly severe.

This study inscribes itself in the global discussion on the nurturing of pro-environmental behaviors among young people for a sustainable future. Here we focus on students' interest in Ecosystem Services and Sustainability to explain their awareness and optimism about the environmental issues of air pollution, water shortage and green gas emission in 50 countries around the world. To this end, we use the cross-sectional survey data of the OECD's Program for International Student Assessment (PISA) 2015, along with seemingly unrelated bi-variate weighted ordered Probit modeling with country specific effects. The results show that in addition to factors such as age, gender, immigration status, and economic, social and cultural status, interest in the biosphere is a significant determinant of students' environmental awareness and optimism. In fact, a one level increase in students' interest in ecosystem services and sustainability raises on average their awareness level by 15.3% for the issue of air pollution, 15.7% for the issue of water shortage, and 24.6% for the issue of green gas emission. Although students' interest in the biosphere seems to not have a significant effect on their expectations about the issue of green gas emission, it does however raise their level of optimism by 0.8% for the issue of air pollution, and 0.2% for the issue of water shortage. Furthermore, every one level increase in students' environmental awareness leads to 17.3% more optimism about the issue of air pollution, 15.8% more optimism about the issue of water shortage, and 17.4% more optimism about the issue of green gas emission. Therefore, relying on the Theory of Planned Behavior (TPB), our results imply that governments and policy makers can successfully leverage young people interests in the biosphere to effectively achieve their goals for sustainability.

Confidence in intermodal transport has not yet been defined. There are many different approaches to the concept of trust. However, the authors embedded them in the light of the challenges of sustainability, linking with the shift paradigm. The objective of the article is to indicate the directions and criteria for the implementation of the shift paradigm, inscribed in the idea of sustainable transport. The auxiliary objective is to predict which countries in a given year will have the TRUST status, i.e. implement the shift paradigm, and which will not implement it (DISTRESS). The article uses taxonometric techniques and built a model using General Discriminant Analysis. On their basis, the utility function was approximated, including the directions of implementation of the shift paradigm depending on the scale of the environmental load of transport. In the course of the research, an original and innovative econometric model was constructed, pointing to three variables, which had the greatest impact on trust. Thanks to the cognitive value of the model, it is possible to identify individuals who deserve the trust, i.e. it will implement the shift paradigm, with 93% probability. In the future, it is worth expanding the research by models for each country.

The purpose of this paper is to examine if there are links between interpersonal trust and competences, relations and cooperation in Polish telecom companies. It examines what factors affect trust in coworkers and managers in sustainable organizations. The paper surveys a sample of 175 employees of telecom companies in Poland by means of a questionnaire. The results indicate that the competences, relations and cooperation are related to interpersonal trust. Regression analysis showed that the competences and relations predict a significant variance in trust amongst coworkers. Additionally, cooperation contributes to prediction of trust in mangers. Given the importance of trust in sustainable organizations, a better comprehension of what factors are related to team confidence provides valuable information for stakeholders. The results provide valuable clues how to improve interpersonal trust in sustainable organizations.

Currently, companies and SMEs (small and medium enterprises) are looking to be more competitive. In order to achieve this, they are adopting new business models and strategies that allow them to move towards sustainability. Strategies such as CSR (Corporate social responsibility) and supply chain management have become essential for ensuring a company’s permanence and financial consolidation. The literature has stated that the theories of Stakeholders and Sustainability are fundamental pillars for the development and sustained growth of business. The purpose of this article is to examine the effects of CSR and the SC (supply chain) on innovation, image and reputation, and in turn, their influences on profitability in SMEs. This research is based on a sample of 143 companies in the city of Guaymas Sonora, in Mexico. For the analysis and validation of the results, we used the SEM (Structural Equation Modeling) statistical technique based on the variance, through PLS (Partial Least Squares) (using SmartPLS version 3.2.6 Professional). The findings show that SMEs that develop social and sustainable practices increase their level of innovation, and improve their image, their reputation, and their financial profitability. This work contributes mainly to the development of Stakeholders and Sustainability.

Fisheries in Cambodia play an important role in supporting household food security and livelihoods throughout the country. Inland fisheries production is largely dependent on numerous ecosystem services, particularly the flood waters of the Tonle Sap Lake basin, which has been degraded from increased fishing pressure because of population growth and a rising demand for fish. To address the dual problem of food insecurity and overfishing, an integrated food security and climate change program involved the promotion of small-scale aquaculture through semi-intensive pond management. The objective of this study is to examine perceptions of small-scale aquaculture by participants in this program in order to assess the potential for aquaculture to contribute to household food security and conservation of the Tonle Sap Lake ecosystem. Focus group discussions and a household survey were conducted among current and previous fish farmers. Results demonstrate that most farmers continue to practice small-scale aquaculture as a means to supplement household food availability and income. Numerous barriers to adoption of small-scale aquaculture were identified, including access to water, prices of commercial fish feed, selling price of fish in markets, and concerns about profitability. Seasonal water scarcity is the most prominent challenge in promoting aquaculture technologies, so aquaculture development should be expanded in areas where there are abundant supplies of water, or where use of water storage techniques are feasible. Aquaculture technology appears to have the potential to contribute to food security, nutrition, and household income, and the expansion of the practice of small-scale aquaculture has the potential to reduce fishing pressure on the wild fisheries of the Tonle Sap Lake.

The value of an NBA basketball player varies at each crucial point in time, depending on the player’s career and performance. This study constructs a player’s value assessment model. The model comprises two parts. First, from an objective perspective, entropy is employed to measure each player’s achievement in five categories—rebounds, assists, steals, blocked shots, and scores. The total entropy assessment value is calculated and then combined with the players’ scores to develop a player's value matrix to assess the relative value model among players of the same type.

The purpose of this paper is to analyze how Green Business Models (BMs) established by small and medium enterprises (SMEs) can incorporate product and process decarbonization in their components (value proposition, creation and capture) and to what extent this incorporation is affected by SME size. We use a database comprising 1,161 observations of SMEs, 466 in 2014 and 695 in 2016. The results show that SMEs’ value propositions give an intermediate valuation to both legally required and voluntary reduction of environmental impact, irrespective of SME size and the year analyzed. Regarding value creation, SMEs adopt practically no environmental practices, and there are significant differences according to size, with more difficulties than advantages stemming from small size. The study also shows that such environmental practices are not effective in reducing carbon. This diagnosis indicates that SMEs need help from the administration if they are to play a key role in the process of transformation toward a low-carbon economy. Legislative actions involving harsher environmental protection measures might help shape value propositions that place greater importance on reducing environmental impact, whereas training actions on available environmental techniques, promotion of research on how to adapt such techniques to SMEs and the development of specific practices for SMEs might enhance environmental value creation and capture in their BMs.

As a combination of both concepts of innovation and environmental development, green innovation is of great significance to the sustainable development of the country and industry. Previous literatures have found the separate roles of green entrepreneurial orientation and inter-organizational learning in understanding green innovation issues. However, few studies have done a comprehensive analysis of integrating three streams of research: green entrepreneurial orientation, green innovation and supply chain learning capability. Based on the resource-based view and dynamic capability theory, we examine the direct of green entrepreneurial orientation on green innovation as well as indirect effect through the mediation of supply chain learning capability. Meanwhile, an empirical data set of 228 manufacturing companies in China (Shaanxi, Guangdong, Hebei, Jiangsu, and Shandong) was used to test our hypotheses. Findings from our empirical study suggest that supply chain learning capability partially mediates the positive relationships between green entrepreneurial orientation and its two consequences—green incremental innovation and green radical innovation. In addition, this research implies that when enterprise has a strong green entrepreneurial orientation, the enterprise should make an effort to enhance the level of supply chain learning capability so as to fully develop their green innovation.

This paper studies the influence mechanism of industrial agglomeration and foreign direct investment (FDI) on green total factor productivity (GTFP). We use the SBM Directional Distance Function to measure the GTFP of Chongqing's manufacturing industry from 1999 to 2015. The results show that the level of GTFP in Chongqing's manufacturing industry is relatively low, which is contrary to the current green development mode. By clarifying the conduction path of industrial agglomeration and FDI on GTFP, we use the panel Tobit model to study the effect of industrial agglomeration and FDI on GTFP. The main findings are: the higher the level of industrial agglomeration, the more beneficial it is to increase GTFP. FDI has an inhibitory effect on GTFP. The spillover effect of FDI on GTFP is not significant. At the same time, FDI counteracts the role of industrial agglomeration in promoting GTFP. The findings in a present study indicate that, according to Chongqing's experience, the "pollution haven" is established. Therefore, relying solely on foreign technology to promote the development of the manufacturing industry has many drawbacks clearly. Only by improving the ability of independent innovation is the reliable way to enhance GTFP effectively.

In this paper, the validity of the Wagner’s law is investigated in tenth selected Sub- Saharan African countries, namely Botswana, Equatorial Guinea, Mauritania, Nigeria, South Africa, Sierra Leone, Tanzania, Ethiopia, Madagascar, and DR Congo. Five variants of the Wagner’s law were tested for the period 2005-2014, using panel econometric approaches encompassing cointegration and causality. The study found a long run relationship between the public expenditure and the various explanatory variables used as proxies of income. The long-run causality tests indicate that there is bidirectional causality between expenditure and income in all models with the exemption of the Gupta model. It is concluded that for Sub-Saharan Africa, both the Wagner’s law the Keynesian hypothesis tend to be valid under the period of investigation. The explanation is that there has been the tendency for public expenditure to grow relative to national income (Wagner’s law) and that public expenditure is a policy instrument (an exogenous factor) for improving national income (Keynesian hypothesis) during the 10-year period.

One of the biggest challenges for European industry is to introduce sustainability principles into business models. This is particularly important in raw material and energy intensive manufacturing sectors such as the ceramic industry. The present state of knowledge lacks a comprehensive operational tool for industry to support decision-making processes geared towards sustainability. In the ceramic sector, the economic and social dimensions of the product and processes have not yet been given sufficient importance. Moreover, the traditional research on industrial districts lacks an analysis of the relations between firms and the territory with a view to sustainability. Finally, the attention of scholars in the field of economic and social sustainability, has not yet turned to the analysis of the Sassuolo district. Therefore, in this paper we introduce the Life Cycle Sustainability Assessment (LCSA), as a method that can be a suitable tool to fill this gap, because through a mathematical model it is possible to obtain the information useful for decision makers to integrate the principles of sustainability both at the microeconomic level in enterprises, and at the meso-economic level for the definition of economic policies and territorial governance. Environmental and socio-economic analysis was performed from the extraction of raw materials to the packaging of the product on different product categories manufactured by the Italian ceramic industries of the Sassuolo district (northern Italy). For the first time the LCSA model, usually applied to unitary processes, is extended to the economic and industrial activities of the entire district, extending the prospect of investigation from the enterprise and its value chain to the integrated network of district enterprises.

The present context regarding development of the food products trade at European Union level presumes manifestation of some tendencies and challenges meant to claim at the highest level the adaptation capacity of economical agents - both producers and traders. Among these we can take into account their need to comply with organic product labeling standards as an integral part of food products safety policies at Union level. In order to be able to implement a proper label type, not only from the point of view of standards but especially from the perspective given by the consumers perception and motivation toward a healthy sustainable food consumption, producers have to constantly innovate, to find new design solutions for food products labels. This article propose an exploratory research in the form of a field survey that highlights the perceptions of Romanian and Serbian consumers, altogether from the urban environment in relation to organic food labeling and how they influence purchasing decision-making. A random number of 373 Serbian consumers’ questionnaires, respectively 1262 Romanian consumers’ questionnaires have been validated, the results showing interesting results from the point of view of national consumption profile differences due to different cultural, economic and social factors as well as different levels of integration within European economy for the both countries. Main conclusions of the research stress the fact that perceptions regarding organic food products labels are constructed around variables like: type of information to appear within the label, category of information that are missing from labels, degree of producers interest in proper labeling of organic food products, relevance of the information on the organic food labels as regards the decision to purchase the products etc. Conclusions propose some possible developments for innovative future characteristics for organic food products labels.

The main aim of the study was to analyze/determine how international modern retailers’ chains can achieve a competitive advantage by introducing private labels (PLs) in the organic category and in turn stimulate consumption of food produced with respect of sustainability principles. Following a review of the relevant literature data collection process involved two steps. First, to select retailers with organic private labels (OPLs) and producers delivering products under OPLs, there were conducted in-depth semi-structured interviews with the representatives of the management board of 17 enterprises. A group of 6 enterprises was selected, including 3 retailers having OPLs, 2 producers delivering products under OPLs and one enterprise that was categorized as producer and distributor. Based on the results of the interviews, six sources of the competitive advantage of the OPLs were identified and further discussed. Second, to analyze more in depth assortment-based competitive advantage of the OPLs, 8 enterprises (5 retailers having OPLs, 2 producers delivering products under OPLs and one enterprise categorized as a producer and distributor) were approached for the interviews. To explore price-related competitive advantage three products offered under the premium PLs, the economy PLs, the organic PLs, the producer brands and the imported brands were selected for the subsequent analysis. Increasing competition in the food retailing sector pose many challenges on the retailers and stimulate them to develop the PLs that is in line with global trends. In case of the OPLs, the more popular strategy while introducing them is to differentiate the PLs with quality and image related attributes comparable to leading producer brands. Retail chains introducing the OPLs achieve the competitive advantage related to six sources: price, range of assortment, type of PLs, image of retailer, sustainability and specific process and product related attributes of organic food. Additionally the retailers use their reputation and image of retailers’ brand to guarantee the quality of new organic products introduced under the PLs. To achieve or maintain the competitive advantage, retailers tend to introduce the OPLs positioned as value added PLs. They perceive the OPLs as a way to influence the consumers' decision to buy and increase their loyalty towards store brands. The strategies of the retailers evolve and the largest retailers decided to create the premium OPLs, the others focus on introduction of the international OPLs or aim at development of new PLs based on the analysis of consumers' preferences. There are several factors behind the decision to introduce or extend the premium OPLs i.e. to expand the assortment of organic products and green products line, to increase category margins and to enhance retailer’s image among customers. Other large retailers create the OPLs with special product line design focusing on health- and environmental related attributes and high quality guaranteed by the organic regulations and the certification. The process of the introducing the premium PLs should be influenced by the inherent characteristic of organic food and its production methods that respect the principles of the sustainable development.

Corporate Diagnosis is now recognized as an important tool by decision makers to predict and correct burgeoning problems that a corporation may face. Methods based on this model stem from the use of mathematics and are increasingly being applied in the analysis of production processes. The goal of this paper is to use a logistic regression to design a scoring model for non-financial corporations in industry. Based on the data obtained from the Registry of the Slovak Republic for 738 non-financial corporations, according to SK NACE 26, SK NACE 27, the proportional financial metrics, using the logistic regression method, were calculated. By applying these methods, two logistic regression models were found to reliably estimate the probability of bankruptcy for a firm.

Cartels cause tremendous damage to the market economy and disadvantage consumers by causing higher prices and lower quality; moreover, they are difficult to detect. We need to prevent them by scientific analysis, which includes the determination of an indicator to explain antitrust enforcement. Particularly, the probability of cartel penalization is a useful indicator for the evaluation of the competition enforcement. This study is to estimate the probability of cartel penalization by using a Bayesian approach. In the empirical study, the probability of cartel penalization is estimated by Bayesian approach from cartel data of Department of Justice in United States from 1970 to 2009. The probability of cartel penalization is seen to be sensitive to change of competition law and the results shows the usefulness of higher interpretation than other research. The result of the policy simulation shows how effective the leniency program is. From this estimation, antitrust enforcement is evaluated, and thereby, can be improved.

We examine the use of deep learning (neural networks) to predict the movement of the S&P 500 Index using past returns of all the stocks in the index. Our analysis finds that the future direction of the S&P 500 index can be weakly predicted by the prior movements of the underlying stocks in the index. Decomposition of the prediction error indicates that most of the lack of predictability comes from randomness and only a little from nonstationarity. We believe this is the first test of S&P500 market efficiency that uses a very large information set, and it extends the domain of weak-form market efficiency tests.

China combines green energy and industrial policy in its power market reform with various policy initiatives, including price support scheme for electricity from renewable sources and subsidies in the push for broader use of greener energy. This study focuses on the impacts of power market reform on the stock price volatility of listed power companies: 1) we use the Iterative Cumulative Sums of Squares (ICSS) algorithm to identify structural break points in stock prices; 2) we analyze the characteristics of stock price volatility based on the GARCH model; 3) we report the impact of power regulation on stock price fluctuations based on the Autoregressive Distributed Lag (ARDL) model. The result suggests three structural breaks in China’s power stock price volatility were related to the promulgation of power market reform policies. We find that industrial policies promote the reduction of power stock price fluctuations and its impact on power stock price volatility is consistent in the long run. However, our study also indicates the recent policies related to renewable energy do not have a very significant impact on the power stock market.

It is well established in literature that the public debt and economic growth bear positive and non-linear relationship. However, in recent literature, evidence of no causal relationship is found when accounted for endogeneity in case of advanced economies (Panizza & Presbitero, 2014). Chudik, Mohaddes, Pesaran, & Raissi, (2017) analyse the data on forty countries and find no evidence of universally applicable threshold effect in the relationship between debt and growth. These advancements in the debt-growth literature provides the motivation to re-explore the relationship between public debt and economic growth under non-linearity and endogeneity in context of developing economies of South Asia including Pakistan, India, Bangladesh and Sri-Lanka for the period 1980-2014. There exists a significant, positive but nonlinear relationship between the public debt and economic growth for the selected set of developing countries when accounted for endogeneity and non-linearity. The negative association between the public debt and economic growth for SAARC region is found when the debt level is higher than 61% of GDP which is quite lower than developed economies (90% of GDP). Individual threshold levels for debt-to-GDP ratio divulge that Sri Lanka, Pakistan and India need to control their public borrowings as their current debt levels are higher and/or around the respective threshold levels.

Accurate electricity price forecasting has become a substantial requirement since the liberalization of the electricity markets. Due to the challenging nature of the electricity prices, which includes high volatility, sharp price spikes and seasonality, various types of electricity price forecasting models still compete and can not outperform each other consistently. Neural Networks have been successfully used in machine learning problems and Recurrent Neural Networks (RNNs) have been proposed to address time-dependent learning problems. In particular, Long Short Term Memory and Gated Recurrent Units (GRU) are tailor-made for time series price estimation. In this paper, we propose to use Gated Recurrent Units as a new technique for electricity price forecasting. We have trained a variety of algorithms with rolling 3-year window and compared the results with the RNNs. In our experiments, 3-layered GRUs outperformed all other neural network structures and state of the art statistical techniques in a statistically significant manner in the Turkish day-ahead market.

This study inscribes itself in the global discussion about the issue of environmental awareness, beliefs and behaviors. Here we focus on the role that cultural differences and scientific media dieting play in explaining heterogeneities in students' awareness and expectations about the two environmental issues of deforestation and species (plant and animal) extinction in the Middle East and North America. To this end, we use the cross-sectional survey data of the OECD's Program for International Student Assessment (PISA) 2015, along with seemingly unrelated Bi-variate ordered Probit modeling techniques. The results show that compared to their North American Counterparts, students' in the Middle East are 14.2% less aware of, and 14.5% less optimistic about the issue of deforestation, while 38.9% less aware of, and 59.0% less optimistic about the issue of species extinction. In addition, we found that science club attendance and broad science reading in books are the two most effective communication media for raising students awareness about the two environmental issues. In fact, every one level increase in students' awareness is found to raise their optimism by 20.4% for the issue of deforestation, and 15.0% for the issue of plant and animal extinction. Therefore raising young people environmental awareness and optimism through proper communication strategies, could be invaluable for achieving an economic development in line with our need to preserve the natural environment and ecosystem services for generations to come.

Oil has become the object of global exploits and fierce competition among the major world powers as it is a key strategic non-renewable resource. Transnational petroleum investment is therefore an important mechanism available to countries and international corporations to control oil resources even though there are numerous inherent uncertainties and risks. A new risk assessment index system is proposed in this paper based on use of the Delphi expert scoring system and fuzzy comprehensive evaluation that aims to minimize the potential risks inherent to multinational petroleum investment. This approach encapsulates political, legal, socioeconomic, and infrastructural factors to develop a technical method that can be used for transnational petroleum investment risk assessment. An evaluation of oil investment risk within a case study area is also presented; results provide reference data that can be applied by national and international oil companies to mitigate risks of transnational oil investment.

In the wake of the 2008 financial crisis, the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS) created a list of Systemically Important Financial Institutions (SIFIs) with the intention of determining which financial institutions were important enough to the global market that their failure would result in systemic collapse. In this work we create a model that modifies the BCBS's five indicators of size, interconnectedness, cross-jurisdictional activities, complexity, and substitutability and applies these measures of systemic stress to governments. The original application of the model is to track the systemic interdependence of the Eurozone, with particular emphasis on the case of Greece. We anticipate this model can be used in regional fiscal situations beyond the Eurozone.

Developments in technology have enabled envisioning the derivation of materials and products from renewable biomass, as an alternative to finite fossil-based resource consumption. Therefore, bioeconomy is regarded as an opportunity for sustainable economic growth. Countries are formulating strategies in accordance with their goals to attain from bioeconomy. Proper measurement, monitoring and reporting of the outcomes of these strategies is crucial for long-term success. This study aims to critically evaluate the national methods used for the measurement, monitoring and reporting of bioeconomy contribution to the total economy. For this purpose, research and surveys have been conducted on selected countries (Argentina, Germany, Malaysia, the Netherlands, South Africa and the United States). The results reveal that the bioeconomy targets set up in the strategies often reflect country’s priorities and comparative advantages. However, comprehensive approaches to measure and monitor bioeconomy progress are frequently lacking. Most countries only measure the contribution to gross domestic product (GDP), turnover and employment of the sectors included in their bioeconomy definition, which may provide an incomplete picture. In addition, this study identifies the mismatch between the targets and measurement methods, as the environmental and social impacts of bioeconomy are often foreseen, but not measured. It is concluded that existing global efforts towards a sustainable bioeconomy monitoring can be strengthened and leveraged to measure progress towards sustainable goals.

This paper contributes to the debate on the impact of economic diversity and the resource curse on economic growth. We use dynamic panel data models on data on Canadian and US sub-national jurisdictions. We find evidence for a positive relationship between diversity and growth. Based on the Krugman Specialization Index, our analysis shows that the required threshold for not having the resource curse is 0.209. Above this threshold, the marginal contribution of natural resources to economic growth is lower for a more diversified regional economy than a less diversified one. We highlight the policy implications of these findings.

This paper examines the regional changes of corn production and the relationship between ethanol production and corn production. The underlying hypothesis is that the rapid growth in ethanol production causes regional expansion of corn production outside the traditional regions. This paper introduces the information approach developed by entropy theory to describe these regional changes. The results support the hypothesis that ethanol production leads to expansion of corn production outside traditional corn producing regions.

This paper studies the contemporaneous relationship between S&P 500 index returns and log-increments of the market volatility index (VIX) via a nonparametric copula method. Specifically, we propose a conditional dependence index to investigate how the dependence between the two series varies across different segments of the market return distribution. We find that: (a) the two series exhibit strong, negative, extreme tail dependence; (b) the negative dependence is stronger in extreme bearish markets than in extreme bullish markets; (c) the dependence gradually weakens as the market return moves toward the center of its distribution, or in quiet markets. The unique dependence structure supports the VIX as a barometer of markets' mood in general. Moreover, applying the proposed method to the S&P 500 returns and the implied variance (VIX²), we find that the nonparametric leverage effect is much stronger than the nonparametric volatility feedback effect, although, in general, both effects are weaker than the dependence relation between the market returns and the log-increments of the VIX.

The planning of rural land depends to a large extent on the agrarian and forestry development model agreed upon for it. Within the framework of agrarian multifunctionality, to evaluate different development alternatives and their effect on territorial planning, its multiple dimensions must be considered as well as the interests and needs of the stakeholders. This work thus addresses the comprehensive evaluation of development alternatives for the rural area of a municipality of the Basque Country (Spain) through the implementation of a multi-criteria evaluation method with social participation. The results show, firstly, the existence of trade-offs between the functions to be promoted in the various development models evaluated. Secondly, the results indicate the need to reverse recent trends in the sector and the convenience of moving towards an agro-livestock model of greater ecological and local character, independently of the followed forest model. In fact, the evaluation carried out also reveals, thirdly, the existence of more or less latent conflicts, in particular with regards to forest policy.

The R&D and propagation of sustainable appropriate technology requires the provision of stable funding. Crowdfunding is a form of funding whereby small sums of investments or contributions are collected from among the general public and used to finance the development of goods or services. This method has been in use widely in arts and culture fields, and presents a useful alternative means for funding appropriate technology projects. The aim of this study is to identify the factors influencing the backers who participate in appropriate technology projects through crowdfunding platforms, analyzing the relationships between these factors, and thereby establishing the usefulness of crowdfunding as a viable new alternative. The analysis results indicate that key factors influencing user intention to crowdfund appropriate technology projects include social influence, effort expectancy, and perceived trust. In contrast to the findings of previous studies, performance expectancy was not found to have a significant effect. This reflects the fact that, compared to the crowdfunding conducted for other purposes, crowdfunding for appropriate technology is closer in nature to donations. These findings indicate that for funding to be successful, aggressive online exposure using the SNS of backers should be pursued from the early stages of funding.

The effects of heterogeneity of cooperative membership on cooperative and collective action sustainability has been previously discussed. However, despite the importance of membership heterogeneity in recent theoretical frameworks, empirical examinations have been limited. We determine the effect of changes to cooperative member heterogeneity on cooperative sustainability and discuss changes to heterogeneity overtime that can advance our understanding to cooperative sustainability long-term. This study uses USDA Agricultural Management Resource Survey data, coupled with USDA-Rural Development cooperative financial data at the state level, to quantify effects of cooperative member heterogeneity to sustainability of U.S. farmer cooperatives. We use random forest regression to interpret the significance of heterogeneity with cooperative sustainability at an aggregate level. The findings of this empirical study narrowly reconciles the theoretical understanding of the emergence of intra-cooperative issues while providing consistent empirical evidence and expectations for the sustainability of cooperatives in the near term.

In this study, we examine the relationship of bank level lending and borrowing decisions and the risk preferences on the dynamics of the interbank lending We develop an agent-based model that incorporates individual bank decisions using the temporal difference reinforcement learning algorithm with empirical data of 6600 S. banks. The model can successfully replicate the key characteristics of interbank lending and borrowing relationships documented in the recent literatur A key finding of this study is that risk preferences at individual bank level can lead to unique interbank market structures which are suggestive of the capacity that the market responds to surprising

Starting with BitTorrent and then Bitcoin, decentralized technologies have been on the rise over the last 15+ years, gaining significant momentum in the last 2+ years with the advent of platform ecosystems such as the Blockchain platform Ethereum. New projects have evolved from decentralized games to marketplaces to open funding models to decentralized autonomous organizations. The hype around cryptocurrency and the valuation of innovative projects drove the market cap of cryptocurrencies to over a trillion dollars at one point in 2017. These high valued technologies are now enabling something new: globally scaled, decentralized business models. Despite their valuation and the hype, these new business ecosystems are frail. This is not only because the underlying technology is rapidly evolving, but also because competitive markets see a profit opportunity in exponential cryptocurrency returns. This extracts value from these ecosystems, which could lead to their collapse, if unchecked. In this paper, we explore novel ways for decentralized economies to protect themselves from, and coexist with competitive markets at a global scale utilizing decentralized technologies such as Blockchain.

The paradigm that assumes the autonomous management of universities involves them in the redefinition of their policies and processes and the training of their staff, designing new formulas that allow them to adapt to a changing environment. In this context, research and sustainable universities can link with society to solve its problems and influence a responsible and sustainable development. Through a Delphi panel, importance to acquire and improve project management (PM) competences by teaching and research staff (TRS) into innovating education and research projects is measured, from the standard of individual competences (ICB4) of the International Project Management Association (IPMA). Also, internal data sources from the flexible structures of two Spanish universities (the University of Cadiz (UCA) and the Technical University of Madrid (UPM)), are investigated, in order to analyze how they are organized. Thanks to the study of cases, an increasing tendency to work by projects is observed, empowering teams, managing properly stakeholders and facilitating their functions towards society. Likewise, after two rounds of experts’ consultation, consensus is reached with an acceptable and stable level of responses, resulting in confirmation that there is alignment between IPMA competences and TRS’ needs for sustained success in education and research, contributing to universities’ development, improvement and sustainability.

Small and medium enterprises (SMEs) are the biggest group of enterprises in the European Union (EU); they are also characteristic for emerging economies. Given this situation, there is a need to provide instruments such as processes, which allows them to realize a model of sustainable development. The ability to classify processes and occurrences happening inside these processes often affects the condition of the enterprises. The implementation of innovations, as identified process, enables the directions of SME development towards sustainable development. The purpose of this article is to find out if the identification of processes such as innovations, have any influence on the competitiveness and sustainable development of SMEs. This study was based on pilot research, which examined small and medium enterprises at the regional level, at the example of Polish emerging economy region. It was researched under the angle of the identification of processes and changes happening inside enterprises in terms of understanding the sustainable development concept. Research composition allows to present an understanding by the SMEs of the problems analyzed. The novelty was in the new questionnaire, the definition of sustainable development, and matching those processes identified by the enterprises analyzed with the particular sustainable development dimensions suggested by the authors. In light of the analysis of the literature and the results of this research the important contributions of this study are as follows. This approach pointed the understanding and practical meaning of the identification of processes to be understood. The most important finding was that there is a need to make entrepreneurs aware of the fact that innovations are also processes in themselves, which often constitutes the sum of other supporting processes occurring in the enterprise. Support in the form of knowledge transfer from experts to SMEs would also be recommended.

This paper employs the two-step procedure developed by Cheung and Ng (1996) to analyze the causality-in-mean and causality-in-variance between the housing and stock markets of the UK. The empirical findings make two key contributions. First, although previous studies have indicated a one-way causal relation from the housing market to the stock market in the UK, this paper discovered a two-way causal relation between them. Second, a causality-in-variance as well as a causality-in-mean was detected from the housing market to the stock market.

This study analyzed the technical efficiency of barley production by smallholder farmers in Meket district, Amhara National Regional State, Ethiopia. A cross sectional data from a sample of 123 barley producers during the 2016/17 production season was collected by applying two stage random sampling. To address the objective of the study, both descriptive statistics and econometric models were used to analyze the data. The trans-log functional form of the production function simultaneously with single stage estimation approach was used to estimate the production of barley output and technical inefficiency factors. The estimated stochastic production frontier model indicated that input variables such as fertilizer, human labor and oxen power were the significant variables to increase the quantity of barley output while, barley seed had a negative effect. The estimated mean levels of technical efficiency of the sample farmers were about 70.9% which revealed that, presence of a room to increase their technical efficiency level on average by 29.1% with the existing resources. The discrepancy ratio gamma indicated that 63% of the total variation from the frontier comes due to technical inefficiency while, the remaining 37% comes due to factors outside the control of farmers. Among the hypothesized factors that affect technical inefficiency; education level, extension contact and number of barley plots significantly and negatively affected technical inefficiency score. Besides, practice of crop rotation, distance of residence from the nearest main market, total expenditure and soil fertility was found to have a positive and significant effect. Hence, emphasis should be given to decrease the inefficiency level of those more inefficient farm households via experience sharing among the farmers and usage of improved or certified barley seed. Besides to this, policies and strategies of the government should be directed towards increasing farmers’ education, improve the system of input distributions and institutional facilities.

The purpose of this study is to investigate the moderating effect of technology configuration capability on the relationship between strategic flexibility and organizational performance through different stages of technological life cycle. Through the empirical research on the 439 Chinese high-tech organizations, it shows that a technological configuration capability has enhanced the effect of strategic flexibility to the organizational performance in the complex dynamic environment. However, the impact on the different stages of technological life cycle is different. In addition, this paper explored strategic flexibility on different stages of technological life cycle on the basis of empirical study.

The financial inclusion, including all the people with the finance, is very concerned issue all over the world where Bangladesh is also trying to include all the people with the finance. Bangladesh lies in such a group of countries where only 17.6% - 38.6% adults are presently under the reach of the formal financial services. This is because the present banks and other formal financial modes consider the outcome and profitability in a way that, the rural and non-developed areas are always out of the consideration. But these areas consist of the most population of Bangladesh. And only then financial inclusiveness will be successful in Bangladesh when people from these regions will be under formal financial consideration. The paper seeks for a solution to the issue and presents the Unit Banking System as a probable way towards financial inclusion. For implementing the system in Bangladesh, the system needs a slight modification to cope in Bangladeshi economic condition and address the specific needs without hampering the surroundings. Considering all these, the paper shows the status, problems and key points of financial scenario of inclusion in Bangladesh and shows policy for a Modified Unit banking System.

In this paper we take China’s one child policy as an example and investigate its environmental impact. We develop a model for an economy using a standard overlapping generation model extended with human capital, endogenous fertility, and changing life expectancy. To model the environmental impact of economic activities, we use a modified IPAT model. We show that China’s one child has a very strong positive impact on the environment, particularly if we consider the whole human legacy.

This paper relies on accounting-based measures of country risk to investigate U.S. global banks' exposure to foreign country risk over the 2017 fiscal year as measured by the sum of cross-border risk, foreign office risk, and derivative risk claims. We achieve this using panel linear modeling methods with country level heterogeneity and time fixed effects, along with a constructed panel data of 284 observations on 71 countries distributed across 6 world regional blocks, and observed over 4 consecutive quarters starting from 4th quarter 2016 and ending with 3rd quarter 2017. The results show that on average, over the four quarters, a 1% increase in foreign banking sector's claims significantly increases U.S. global banks cross border risk exposure by 0.34%, while reducing derivative risk exposure by 0.22%, but have no significant impact on foreign office risk exposure. Similar results are observed with public sector claims which significantly increase banks' exposure to cross border risk by 0.21%, while reducing derivative risk exposure by 0.19%. Conversely however, non-bank financial sector claims are found to have no significant affect on cross-border risk exposure, but significantly reduce foreign office risk exposure by 0.09%, while increasing derivative risk exposure by 0.06%. These results indicate the presence of sectoral heterogeneities in U.S. banks' exposure to foreign counterparties' risk, and also that overall, over the course of 2017 the level of U.S. global banks' cross-border risk exposure increased, while their level of derivative risk exposure decreased, and the level of foreign office risk exposure remained relatively unchanged.

This paper investigates the effects of Inter-generational co-residence on health care market, and labor market outcomes, to see whether or not living under the same roof with at least one parent matters in health care market, and labor market behaviors in post-Affordable-Care Act (ACA) USA. The adopted analytical strategy involves not only looking at the gender differences in co-residence, and its effects on outcomes in the two markets, but also accounting for co-residence endogeneity following the recent literature. Unlike the recent literature that relies on instrumental variables methods, this study adopts a switching regression approach, defining inter-generational co-residence as an endogenous selection process using a binary probit equation, and modeled jointly with the extensive margins and intensive margins in the two markets. This novel approach results in a recursive trivariate probit model for each market, and estimated using penalized maximum likelihood methods. The results suggest that ACA by reorganizing the US health care market, seems to have reduced significantly disparities in health care access among males and females based on race, region of residence, place of birth, and citizenship. However not only do we observe significant differences in inter-generational co-residence status between males and females, we also find significant inequalities in the effects of co-residence on health care market, and labor market outcomes. In fact, co-residence is found to increase health care expenditure by 56.7% among females, while this figure increases to 74.2% among males. In addition co-residing individuals, while spending 69.7% more on health care annually are 1.22 times more likely to access health care, but 31% less likely to use health care intensively during the year. In the labor market, co-residence is found to reduce significantly hours of weekly labor supplied by 41% for females, and 55.6% for males. Furthermore co-residing individuals, while not significantly different in their likelihood of labor force participation, are 1.52 times less likely to work full time once they decide to participate, and also spend about 55.4% less time working in the labor market in post-ACA USA.

This article takes an approach to explaining the behavioral manifestations of the decision making in US companies’ offer of health insurance that is grounded not only on their cost minimizing behavior, but also in a humanness dimension based on the African concept of Ubuntu. In this way, we define an Ubuntu based Random Utility modeling framework, describing the choice process as a tripartite decision making, and implemented using a nationally representative random sample of 1,061 American companies from the Dunn and Bradstreet Business data, supplied by Survey Sampling International to the Associated Press-NORC Center for Public Affairs Research. The results from the three sequentially implemented specifications showed that the relationship between management culture and health plan offering strategy is dependent on other relevant co-variates, which when left out, leads to the problem of omitted variables bias. However, when all variables are included but assumed to enter the relationship exogenously, this results in management culture not having any statistically significant effect on companies' decisions about scope of health plan offering. When the exogeneity assumption is relaxed through a recursively Bivariate Probit model, the system of two equations produces a highly significant management culture effect. In fact, in this later case we see that companies with groups and formal committee management culture are 1.58 times less likely to choose a multiple plan strategy over a single plan strategy, hence failing to show the more wholesome plan offering that would theoretically prevail under Ubuntu style management.

This paper models the factors explaining households members economic well-being in Burkina Faso, with a focus on the relative influence of gender inequality in literacy status. It does so, using data from the 2014 survey on household living conditions and a semi-parametric bi-variate sample selection modeling approach. This approach compared to the classic Heckman two-step estimator is methodologically innovative because it deals simultaneously with non-random sample selection using conventional systems of two equations, non-linear covariates' effects using spline approach, and the non-normal bivariate distribution using copula functions. The graphical results from the Lorenz curves combined with the numerical Atkinson and Gini coefficients suggest that inequality in overall per-capita consumption spending among households headed by literates is higher than that of their illiterate counterparts in 2009 and 2014. However, independently of the head of household’s literacy status, the level of inequality in total economic well-being decreased from 2009 to 2014. Using the poverty indices of Watts, Sen, Foster ( alpha= 1)) we found that poverty among households headed by literates is lower than that of their illiterates counterparts for both years, although overall poverty decreased nationally between 2009 and 2014. The results also show that although the gender inequality in literacy status does not translate into inequalities in non-food wellness, it does however for food-wellness as female headed households have 38.9% less per-capita food consumption spending than their men counterparts. Combining both food and non-food consumption spending, total economic well-being also seems to exhibit gender inequality as female headed households now have relatively 26.7% less combined per-capita consumption spending.