Do they Know it’s CSR at all? An Exploration of Socially Responsible Music Consumption

Porter and Kramer (Harv Bus Rev 84(12):78–92, 2006; Harv Bus Rev 89(1/2), 62–77, 2011) introduced ‘shared value’ as a ‘new conception of capitalism,’ claiming it is a powerful driver of economic growth and reconciliation between business and society. The idea has generated strong interest in business and academia; however, its theoretical precepts have not been rigorously assessed. In this paper, we provide a systematic and thorough analysis of shared value, focusing on its ontological and epistemological properties. Our review highlights that ‘shared value’ has spread into the language of multiple disciplines, but that its current conceptualization is vague, and it presents important discrepancies in the way it is defined and operationalized, such that it is more of a buzzword than a substantive concept. It also overlaps with many other (related) concepts and lacks empirical grounding. We offer recommendations for defining and measuring the concept, take a step toward disentangling it from related concepts, and identify relevant theories and research methods that would facilitate extending the knowledge frontier on shared value.     

Populism and Fiscal Illusion

There is a widespread concern that anti‐elitist or populist opinion is on the rise. The policy concern is that political opportunists would exploit voter rational ignorance for their own cynical purposes. In this article I demonstrate that, in the field of taxation, this sort of behaviour already occurs. Fiscal illusion can be described as deceiving taxpayer‐voters into paying more tax than they would otherwise agree to. Taxpayers are already victims of political opportunism unrelated to the rise of populism.     

An analysis of trading strategies in eleven European stock markets

Abstract

In recent years, the validity of the weak form efficient market hypothesis (EMH) has been called into question as several studies have uncovered evidence that technical trading rules have predictive ability with respect to both developed and emerging stock market indices. This study analyses the forecasting power of 2 of the most popular trading rules using index data for a selection of 11 European stock markets over the January 1991 to December 2000 period. The findings indicate that the emerging markets included in this paper are informationally inefficient; these markets displayed some degree of predictability in their share returns, although the developed markets did not. Furthermore, the results point to large differences in the performance of the rules examined; while small size filters consistently outperformed the buy-and-hold strategy in the emerging markets examined even after the consideration of transaction costs, the performance of the moving average rules was erratic and varied dramatically from market to market.     

Principles versus principal: Reconciling norm compliance and shareholder value

This paper considers situations where an agent (say, a polluting firm's CEO) must allocate his nonobservable effort across two distinct tasks (say, revenue/market share enhancement and environmental stewardship), and where two principals (say, the firm's shareholders and an external stakeholder) hold diverging viewpoints on what the best allocation should be. Both characteristics of this context—multitasking and conflicting principals—are normally seen as obstacles to strengthening the agent's incentives. This paper proposes a simple arrangement, based on contingent monitoring and clawbacks, that can overcome these obstacles. Under this arrangement, the principals would end up coordinating their respective incentive schemes so that the agent considers his two tasks as complementary utility‐increasing activities. Applications to regulatory compliance, corporate social responsibility, and innovation management are briefly sketched.     

The impact of patient choice and waiting time on the demand for health care: results from the London Patient Choice project

In a number of countries where health care is publicly funded, policies to introduce greater patient choice are being implemented. In most cases patient choice is seen as an instrument to reduce waiting times for elective (non-emergency) hospital services. An important issue is whether facilitating greater patient choice will increase the demand for health care and thereby undermine the achievement of reduced waiting times. A large scale pilot of choice in the London metropolitan area permits a test of the hypothesis that choice will affect demand. This paper estimates a model of the demand for elective surgery using a panel of 150 English acute hospitals over the period 1995 to 2004 for three surgical specialties. It examines whether demand shifted following the introduction of the London Patient Choice Project in 2002. The results suggest that the choice project only shifted NHS inpatient demand in orthopaedics and that this shift was inwards.     

7. The pollution sub-system

In dealing with the assumptions and behaviour of the World 3 pollution sub-system, what is “physically measurable” is described and assessed. Thus there is a contrast between this and much of the actual discussion of disamenities in The Limits to Growth. What are avoided in this sub-system are the difficulties that are encountered in the modelling of social conditions and responses.     

Modelling choice and switching behaviour between Scottish ski centres

The paper identifies the need to model the skier's choice of centre and the basic ideas underlying discrete choice models and their estimation. It then identifies data requirements and sources, the final choice of specification and the estimated parameters of the resultant nested multinomial logit model. The results indicate two quite distinct markets. For day-trippers snow cover, cost, and, to a lesser extent, the journey length, were the critical factors. For those staying overnight the key determinant in this market seems to be accommodation. Interestingly centres which for the day-tripper are competitors, become, for the overnight customer, complementary.     

Acting together: Intergenerational values and wisdom

Future values and wisdom in a generational sense is a challenging topic to wrestle with at an international conference, especially one which focuses on action in the present. Session Two at the 2005 WFSF World Conference in Budapest was titled ‘Counting on Each Other’, represented through the papers presented here and the group's discussion related by the author. The papers were grouped into four areas—Futures Studies and Methods; Values; Sustainable Development; and Rights and Ethics. After reading the issues which were raised, and the conclusions that were reached, the reader should appreciate the complexity of the topic. In particular, the difficulties faced by a group of people who wished to explore this topic, its related images of the future and the actions generated for the present is a microcosm of the difficulties faced in the wider world when trying to deal with these issues for the future.     

利用危机打造更出色的董事会

董事会应该将目前这场危机视为重新评估其运作方式的一次机遇。过去好几代人都未曾经历过现在这样的困难。而在困难时期,董事们总是就公司情况提出疑问。但是,他们却很少就其自身的情况提出质疑。例如：＂我们是否是合适的董事会人选？是否提出了正确的问题？提供了选？是否提出了正确的问题？提供了正确的领导？是否以最富有成效的方式对公司管理层提出了挑战？”