A Green Energy Plan for Denmark

Several political regulation instruments -- such as CO₂ taxes -- have been suggested to implement CO₂ reduction policies. But normally the cost of implementing CO₂ reduction policies is considered to be a threat to both economic growth and employment. But to some extent, strategies can be developed which implement CO₂ reduction goals by creating jobs and such strategies could help economic growth.This note presents the main results from a research project, in the Department of Development and Planning at Aalborg University. More detailed information of the full study is given in (Lund 1996: 2) and (Lund 1997). The research project has had the primary purpose of determining the consequences for employment and the need for foreign exchange in the investments in the different types of energy plants in Denmark. From this information it has been possible to develop and calculate the consequences of various energy strategies, which seek to avoid the conflict between environment, employment and economic growth. One example of such a strategy is called the Green Energy Plan.The Green Energy Plan, was published by the General Workers' Union and used as an input to the public debate on the future of energy in Denmark in the spring of 1996 (Lund 1996: 2). The official Danish energy plan Energy 21 (Danish Ministry of Environment and Energy 1996) was adopted soon after the public debate.     

Recycling in the garment industry

An analysis of the present situation. regarding the wastes produced by the United Kingdom garment industry is presented. It appears that fairly considerable amounts of materials uneconomic for conventional recycling are at present being wasted. Possibilities for utilization of these wastes are discussed.     

Determinants of CEO and Board Turnover

The purpose of this paper is twofold. First, to document changes in top management and board of directors in Danish firms during 1996–98. Second, to examine whether these changes are related to the performance of firms during the preceding years. Our study differs from earlier investigations in that we not only consider removal of CEOs but also turnover of board chairmen and board members. We find that turnovers of CEOs, board chairs and members have a number of common determinants like firm size and age of the firm. Risks of removals increase with lower rates of solvency but are unaffected by profitability changes. The hypothesis that competition increases the turnover risk is not supported by the estimations.     

Mid-level Managers,Organizational Context,and (Un)ethical Encounters

This article details day-to-day ethics issues facing MBAs who occupy entry-level and mid-level management positions and offers defined examples of the stressors these managers face. The study includes lower-level managers, essentially excluded from extant literature, and focuses on workplace behaviors both undertaken and observed. Results indicate that pressures from internal organization sources, and ambiguity in letter versus spirit of rules, account for over a third of the most frequent unethical situations encountered, and that most managers did not expect to face those issues. Various contextual factors accounted for 32% of the organizational factors that affected decisions. We discuss implications for the workplace, especially the unique ethics challenges for newer managers.     

Equilibrium investment with random risk aversion

We solve the problem of an investor who maximizes utility but faces random preferences. We propose a problem formulation based on expected certainty equivalents. We tackle the time-consistency issues arising from that formulation by applying the equilibrium theory approach. To this end, we provide the proper definitions and prove a rigorous verification theorem. We complete the calculations for the cases of power and exponential utility. For power utility, we illustrate in a numerical example that the equilibrium stock proportion is independent of wealth, but decreasing in time, which we also supplement by a theoretical discussion. For exponential utility, the usual constant absolute risk aversion is replaced by its expectation.