Stakeholder Engagement: Defining Strategic Advantage for Sustainable Construction

Although sustainable development is increasingly becoming a part of business plans, it is unclear what makes the economic, social and environmental dynamics strategically compatible. This research examines which of the following in sustainable development – government policy, managerial attitude and stakeholder engagement – is the most influential on the profitability of companies in the UK construction sector. Quantitative and qualitative analyses were rendered through a survey and semi‐structured interviews. Patterns of ambiguity in legislation were discovered as an obstacle for changing the sector's mind‐set. Stakeholder engagement was identified as the defining factor increasing managers' awareness, helping legislation to be effectively implemented and making sustainability highly appealing to clients. These findings indicate that to gain competitive advantage, companies should embark on long‐term strategic alliances which adopt the proposals of environmental non‐governmental organisations and closely follow public opinion. This, strengthens brand equity, allows for premium pricing, increases market share and maximizes profit. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment.     

Modeling the Transition from Enhanced Oil Recovery to Geologic Carbon Sequestration

Policy debates suggest a future role for geologic carbon sequestration. As geologic sequestration (GS) evolves from enhanced oil recovery operations to an emissions‐mitigation option, regulations must evolve to manage the risks of carbon dioxide (CO₂) migration. We develop an engineering‐economic model to understand the key deployment pathways in this transition. Major results reveal that dedicated CO₂ storage in aquifers is associated with the greatest net revenues under only a limited number of scenarios. This finding suggests that regulators should anticipate GS operations in reservoirs that were not initially intended as GS operations and, therefore, may have higher leakage rates. Copyright © 2013 John Wiley & Sons, Ltd.     

How young firms achieve growth: reconciling the roles of growth motivation and innovative activities

This special issue focuses on entrepreneurship, innovation and enterprise dynamics, as these key components of any prospering economy are at the heart of the current policy discussion. It gathers the latest national and comparative cross-country evidence about: new business venture formation and the role of framework conditions in fostering entrepreneurial activities; the determinants and outcomes of firms’ innovative activities and, more generally, of business and innovation dynamics; and the determinants and patterns of post-entry firm growth performance. The contributions synthesised in this introductory piece all rely on sound micro-level data and robust econometrics and propose novel findings that are relevant for policy making. Among them, that risk aversion encourages individuals to invest in balanced skill profiles, making them more likely to become entrepreneurs; and that while micro firms may grow when they are young, they are less likely to do so when old.     

Occupational structure in the Czech lands under the second serfdom

This article presents an analysis of occupational structure, a key component of the ‘Little Divergence’, in an eastern‐central European economy under the second serfdom, using data on 6,983 Bohemian villages in 1654. Non‐agricultural activity was lower than in western Europe, but varied positively with village size, pastoral agriculture, sub‐peasant strata, Jews, freemen, female headship, and mills, and negatively with arable agriculture and towns. It showed a curvilinear relationship with the ‘second serfdom’, as proxied by landlord presence on village holdings. Landlord presence in serf villages also reversed the positive effects of female headship and mills on non‐agricultural activities. Under the second serfdom, landlords encouraged serf activities from which they could extract rents, while stifling others which threatened manorial interests.     

The Determinants of International Commercial Real Estate Investment

We examine the determinants of international commercial real estate investment using a unique set of panel data series for 47 countries worldwide, covering the period from 2000 to 2009. We explore how different socio-economic, demographic and institutional characteristics affect commercial real estate investment activity by determining both cross-sectional and time-series estimators, running augmented random effect panel regressions. We provide evidence that economic growth, rapid urbanization and compelling demographics attract real estate investment, and also demonstrate that a lack of transparency in the legal framework, administrative burdens of doing real estate business, socio-cultural challenges and political instabilities reduce international real estate allocations.