Different strokes: regulatory styles and environmental strategy in the North‐American oil and gas industry

The environmental management and policy literature presents competing arguments for and against different styles of environmental regulations – command‐and‐control versus flexible regulations that enable voluntary actions. On the one hand, it is argued that firms will not adopt minimum environmental standards without command‐and‐control regulations and that such regulations may actually result in competitive benefits for first movers. On the other hand, the literature argues that command‐and‐control regulations stifle innovation and that flexible regulations encourage proactive environmental strategies that lead to competitive benefits for organizations. This study compared the environmental strategies and competitiveness of oil and gas firms in two different regulatory contexts – the command‐and‐control based US environmental regulations and the flexible collaborative Canadian context. The study found no significant differences in the degree to which firms within the two contexts were more or less proactive in their environmental strategies or in the extent of competitiveness associated with corporate environmental strategies. Follow‐up interviews with 12 Canadian and US companies indicated that regulations appeared to be more important drivers of corporate environmental practices at initial stages and eventually other external and internal drivers became more important influences on corporate environmental strategies. Copyright © 2001 John Wiley & Sons, Ltd and ERP Environment     

Exploring the dimensionality of the need for cognition scale

Based on evidence presented for the Need for Cognition Scale in its original and abbreviated versions, users of the instrument assume its unidimensionality. In three exploratory studies, maximum‐likelihood factor analysis reveals the presence of multiple dimensions in both forms of the scale. Four dimensions—enjoyment of cognitive stimulation, preference for complexity, commitment of cognitive effort, and desire for understanding —emerged with some consistency across samples and were found to be fairly resistant to changes in the polarity of scale items and to explain differentially consumer response to advertisements. © 2006 Wiley Periodicals, Inc.     

The biotechnology industry and strategies of biodiversity conservation: The influence of managerial interpretations and risk propensity

This article presents the results of a questionnaire‐based mail survey which was conducted to examine the influence of managerial cognitions on the strategies for biodiversity conservation undertaken by individual companies in the North American biotechnology industry. The study confirmed that managerial issue interpretations and risk propensities were significant influences on organisational actions for biodiversity preservation. More specifically, the biodiversity conservation strategies undertaken by individual companies were influenced by whether or not the managers of these companies interpreted biodiversity conservation as an opportunity or a threat as well as the propensity of these managers to undertake risk on behalf of their companies. This article concludes that opportunity interpretations of biodiversity conservation by managers of biotechnology companies will be translated into proactive environmental responsiveness strategies in uncertain environments only if these managers also exhibit a high risk propensity. Copyright © 1999 John Wiley & Sons, Ltd and ERP Environment.     

An examination of the impact of macroeconomic news on the spot and futures treasuries markets

In this study we analyze the reaction of daily cash and futures prices for several Treasury securities to the release of U.S. macroeconomic news. Some important results are reported. First, consistent with the notion of market integration, the futures market is found to be cointegrated with the corresponding cash market. Second, of the 23 types of periodic macroeconomic announcements, 19 of them have a significant influence on either the cash or futures prices. Most notably, surprises in nonfarm payroll and Treasury budget significantly influence the cash and futures market across the entire maturity spectrum. Third, consistent with the Fisher and real activity hypotheses, macroeconomic news that conveys higher inflation and/or economic growth has a negative influence on cash and futures prices. Finally, hedging with Treasury futures appears to offer investors protection from inflation‐related fluctuations in interest rates, but not against fluctuations arising due to variations in real output. Some important policy implications of the results are offered. © 2004 Wiley Periodicals, Inc. Jrl Fut Mark 24:453–478, 2004     

Brand promotions as a lottery

This paper shows that imprecisely stated discounts in brand promotions offered in the form of a low-probability lottery can lead to higher sales (purchase intentions) and consequently profits than equally costly conventional promotions offering a precise discount on the entire stock. Results from two different experimental studies support our findings. For high-probability lottery-like promotions, imprecise discounts lead to a lower performance for the brand than conventional promotions. We attempt to explain the findings by drawing on the behavioral decision theory literature.     

An Application of Quah and Vahey’s SVAR Methodology for Estimating Core Inflation in India: A Note

Inflation, calculated as year-on-year per cent change in general price level, represents a combined effect of several types of price changes. The monetary authorities primarily focus to track that part of inflation, which can be effectively monitored and controlled using various monetary instruments. This persistent component of inflation is termed as ‘Core Inflation’, which possesses long-run properties as well as predictive power to forecast inflation. This paper makes use of Quah and Vahey’s definition of core inflation as that component of headline inflation, which has no impact on output in medium to long run and estimates it by placing restrictions on vector auto regression system with inflation and output growth. The analysis is based on monthly data from April 1995 to January 2009. Empirical results showed that in India, during 2006 and 2007, the inflation process was stronger than what headline inflation figures actually depicted and in 2008 the inflationary process has tended to be somewhat weaker than what was observed in headline inflation.

     

TQM practice in real-estate industry using AHP

Total quality management (TQM) has been recognized as a successful management philosophy that can be successfully practiced in the Real-estate industry. The purpose of this research is to determine the important factors that influence the TQM practice in real estate industry. The research methods employed included a literature review, in-depth interviews and focus group techniques which were used as a first to identify ten constructs of TQM in organizations. That is Top Management Commitment, Customer Focus, Benchmarking, Continuous Improvement, Supplier Quality Management, Product Innovation, Product Quality, Employee’s Involvement, Rewards and Recognition, Educational and Training. The AHP questionnaires were sent as 142 organizations of members of the Confederation of Real Estate Developers’ Associations of India, in the metro city of Bangalore, Chennai, Kolkata and Mumbai. The sampling procedure resulted in an overall response rate of 51% and the result was categorized based on organization size—small, medium and large. Then, the empirical study adopted the techniques of the Analytic Hierarchy Process to solicit opinions from 72 expert opinion collected through mail questionnaire. The results show that Employee involvement, top management commitment, employee customer focus, plays very important role for TQM practice in organizations. The results show that the Employee’s Involvement is most important to TQM practice in India. This is not difficult to understand, since the less than desirable record of real-estate industry. Therefore, the key to a successful strategy is to rebuild the confidence of TQM practice in real-estate industry.     

A revisitation of the savings–growth nexus in Mexico

By employing tests for long-term causality, contrary to Sinha and Sinha (Economic Letters, 1998), in Mexico, savings is shown to precede growth. This paper further explores the complex dynamics of this inter-relationship to lend clarity to this nexus.     

Can Producing and Marketing Healthy Foods Create a Healthy Economy?

Does producing and marketing healthy foods help create a healthy economy? The findings show that producing and marketing healthy agricultural products can substantially benefit a state's economy. While producing crops that could make the population healthier, these products also generate significant economic activity across business sectors, create jobs and labor income, and create incremental business taxes. Additionally, impact dollars and incremental wages create demand for goods and services both within and outside of the agricultural economic sector, thereby touching nearly every aspect of resident and business life.