Dual discounting in climate change mitigation in the forest sector

The efficiency of potential climate change mitigation is predicated on future costs and benefits and thus heavily influenced by the discount scheme. Dual discounting involves discounting carbon and monetary values differently; stand level modeling efforts show that it improves the profitability of afforestation projects. However, these stand level results may not hold across other age classes and stocking levels. Using a partial, spatial equilibrium model of the Norwegian forest sector, we analyze the impacts of a dual discounting scheme on climate change mitigation efforts. Dual discounting results in less mitigation efforts in the first decades but substantially higher long-term mitigation efforts.     

Income inequality,unemployment, and suicide: a panel data analysis of 15 European countries

One of the reasons behind the re-negotiation of the Lomé Convention, resulting in the Cotonou Agreement, was the alleged inability of the trade provisions of Lomé to increase the African, Caribbean and Pacific (ACP) countries' market share of the European Union (EU) market. The Cotonou Agreement may lead to the more advanced ACPs being granted future market access to the EU under a generalized system of preferences (GSP), in conformity with World Trade Organization (WTO) rules. To this end, this paper makes a comparative analysis of the effects of the EU's Lomé Convention and GSP on exports of developing countries using a gravity type of model. The results indicate positive and statistically significant export effects of the both the Lomé Convention and the GSP. The export effects are greater in case of the Lomé Convention throughout the study period running from 1973 to 1992. In addition, the paper illustrates the EU country distribution of the export effects and shows that Belgium and The Netherlands are the EU countries that most have increased their imports from the developing countries under both the Lomé Convention and the GSP.     

Randbemerkungen über den Verlauf der Deckungskapitalien; ihre differentialgleichungen und gewisse ihnen angeknüpfte identitäten

Abstract

Es kann in der Lebensversicherung mitunter von Interesse sein eine gewisse Übersicht darüber zu gewinnen wie sich das Deckungskapital irgend eines vorgelegten Versicherungsbestandes (unter bestimmter Voraussetzung der Sterblichkeit und des Zinsfusses) mit den Jahren ändern wird. Es handelt sich dabei oft um die Abschätzung des Zeitspunktes für den Eintritt des Maximums des Deckungskapitals eines solchen Bestandes, und um die Höhe dieses Kapitals zu diesem Zeitpunkte. Solche Fragen entstehen z. B. bei aussterbenden Versicherungseinrichtungen und namentlich bei Übertragungen von ganzen Versicherungsbeständen, wie sie in dieser Zeit so häufig vorkommen. Der Gegenstand bietet kaum Schwierigkeiten, ist vielmehr theoretisch einfach; jedoch aber nicht ohne Interesse, weshalb eine ganz kurze Auseinandersetzung angepasst sein dürfte. Wir werden dann bei derselben Gelegenheit, obwohl es für die so gestellte Aufgabe nicht nötig war, einige allgemeine Differentialgleichungen und Identitäten ableiten, die mit derselben Aufgabe in enger Verbindung stehen.     

E-Business Adoption by SMEs--Prerequisites and Attitudes of SMEs in a Swedish Network

The context for this research is the transformation process of small and medium-sized enterprises (SMEs) from traditional (t-) businesses toward e-businesses and the accompanying development of the knowledge and competence among employees. SMEs constitute a great part of the Swedish industry and economy. This and the fact that they have special prerequisites concerning human and technology resources makes SMEs an interesting research focus when looking at the transformation process toward e-business. The aim of this research is to investigate SMEs with the purpose of designing, implementing, and evaluating information technology-supported activities that will allow SMEs to approach e-business. This article presents results from parts of an ongoing study, that involves seven SMEs. This study will be conducted in two main phases: first, informative and preparatory activities and second, business transformation and competence development activities. This article focuses on the first phase of the study, but an insight in its current status and further research is given. The underlying prerequisites for SMEs as well as the research approach are described. A working model is presented that illustrates stages of maturity for taking an enterprise toward e-business. The last sections present the research design, that is, planning, actions, observations, and reflections of the study up until now. New actions to take are discussed at the end of this article.     

Interorganizational cost management in the exchange process

This paper explores interorganizational cost management (IOCM) practices in the exchange process. IOCM can be defined as buyers’ and suppliers’ coordinated efforts to reduce costs. Past research has primarily argued that such practices depend on component characteristics, relationship characteristics, and characteristics of the transaction. Based on a study of three buyer–supplier relationships, this article also finds variations in IOCM practices between six main activities in the exchange process. In this process, the supplier's management accounting is found to be more important than recognized by prior research. The deepest collaboration around IOCM issues and the greatest joint use of suppliers’ management accounting in the three cases typically occurs in earlier activities in the exchange process, including supplier selection, joint product design and joint manufacturing process development. In later activities in the process, during full-speed production as well as in product and manufacturing process redesign, suppliers’ managerial accounting plays a lesser role in our study.     

AgriStability with Catastrophic Price Risk for Cow-Calf Producers

AgriStability is the primary Canadian agricultural risk management program. Recent experience with bovine spongiform encephalopathy (BSE) in the cattle sector demonstrated that output prices are susceptible to both “normal” risk and sudden, “catastrophic” declines. This paper evaluates the AgriStability program for cow-calf producers when there is potential for catastrophic price risk. A simulation model is developed. Under a base case scenario, when there is no catastrophic price risk, AgriStability behaves more like an income support program than a risk management tool. Risk-neutral producers see a 12.1% increase in certainty equivalent wealth compared to 12.5% for moderately risk-averse producers. Introducing catastrophic price risk increases risk-averse producers’ expected benefits to 21.8%. Actuarially fair program premiums and implied subsidies are also estimated. These results demonstrate that AgriStability is highly subsidized. Finally, benefits from supplementary catastrophic revenue insurance are calculated and discussed, along with several additional structural features of the program. Agri-stabilité constitue le principal programme canadien de gestion des risques en agriculture. L'encéphalopathie spongiforme bovine qui a frappé le secteur de l’élevage bovin a démontré que les prix des extrants sont exposés à des risques « normaux » et à des chutes soudaines et « catastrophiques ». Le présent article évalue le programme Agri-stabilité dans le cas des producteurs vache-veau (veaux d’embouche) lorsqu’un potentiel de risque de prix catastrophique existe. Nous avons élaboré un modèle de simulation. Dans le cadre d’un scénario de référence, lorsqu’il n’existe pas de risque de prix catastrophique, le programme Agri-stabilité ressemble davantage à un programme de soutien du revenu qu’à un outil de gestion des risques. Dans le cas des producteurs indifférents aux risques, l’équivalent certain de la richesse aléatoire est supérieur de 12,1 % comparativement à 12,5 % dans le cas des producteurs modérément risquophobes. L'introduction de risque de prix catastrophique augmente les bénéfices espérés des producteurs risquophobes de 21,8 %. Nous avons également estimé ce que représentent les indemnités actuariellement justes ainsi que les subventions implicites. Les résultats ont montré que le programme Agri-stabilité est très subventionné. Finalement, nous avons examiné et calculé les indemnités tirées d’une assurance-revenu supplémentaire en cas de risque catastrophique et nous avons aussi analysé plusieurs autres caractéristiques structurelles du programme.     

Extent of managerial IT use,learning routines,and firm performance: A structural equation modeling of their relationship

Organizations increasingly rely on information technology (IT) to improve performance. Yet, there is debate about the pay-off of the IT revolution, and empirical evidence suggests that investments in IT do not guarantee enhanced performance. Drawing from accounting, marketing, management and information technology literature, this study uses structural equation modeling to assess the extent to which managerial use of IT is intertwined with control issues including learning routines (internal and external), product quality, cost improvement, customer satisfaction and firm profitability. The conceptual framework builds on knowledge- and resource-based views and return on quality perspectives. The results indicate support for the theoretical framework. Extent of managerial IT use influences internal and external learning routines that influence quality and cost improvement. Quality improvement significantly impacts customer satisfaction and cost improvement that significantly impact firm profitability. The non-hypothesized paths are not significant, indicating that learning routines, quality improvement, cost improvement and customer satisfaction are intervening variables between extent of managerial IT use and firm profitability. Further, the sample is split into two industry subgroups, durable and nondurable goods subgroups, and the two-group analysis reveals that industry moderates the relationship among the variables under study. The effects are in general more pronounced for durable goods firms.