El desempeño económico financiero y responsabilidad social corporativa Petrobrás versus Repsol

Alterations in the institutional environment, as a result of the markets integration process and the consequent alterations in stakeholders’ conduct are one of the important vectors of changes in companies’ behavior. In that context, in addition to their yields those companies happen to worry about their attitudes in relation to social and environmental factors. Thus, the corporate social responsibility (CSR) is seen as one more strategy to maintain or increase their income and to harness the enterprise development. The main purpose of this study is the verification of the existing relation between Social Responsibility and the economic and financial performance of two companies in the business of Petroleum, Gas and Bio-combustibles. The investigation was based on a comparison of social-environmental practices developed by Petrobras S/A (Brazil) and Repsol S/A (Spain). For the purpose of verification of the relation between social-environmental performance and the economic-financial one, a linear regression analysis was carried out.     

A Perspective‐Based Understanding of Project Success

Answering the call for alternative approaches to researching project management, we explore the evaluation of project success from a subjectivist perspective. An in‐depth, longitudinal case study of information systems development in a large manufacturing company was used to investigate how various project stakeholders subjectively perceived the project outcome and what evaluation criteria they drew on in doing so. A conceptual framework is developed for understanding and analyzing evaluations of project success, both formal and informal. The framework highlights how different stakeholder perspectives influence the perceived outcome(s) of a project, and how project evaluations may differ between stakeholders and across time.     

高邮凹陷沙埝南—永安地区戴一段油气成藏期次综合研究

本文先用圈闭形成期法、烃源岩主生烃期法、饱和压力法得出研究区油气成藏的大致年代,然后根据包裹体均一温度法确定油气充注的具体期次,最后综合分析得出研究区三期成藏的结论。     

Supporting ALARP decision making by cost benefit analysis and multiattribute utility theory

Current guidance in the UK and elsewhere indicate upper and target risk limits for the operation of nuclear plant in terms of individual risk per annum. ‘As low as reasonably practicable’ (ALARP) arguments are used to justify the acceptance or rejection of policies that lead to risk changes between these limits. The suitability of cost‐benefit analysis (CBA) and multiattribute utility theory (MAUT) are assessed for performing ALARP (‘as low as reasonably possible’) assessments, in particular within the nuclear industry. Four problems stand out in current CBA applications to ALARP, concerning the determination of prices of safety gains or detriments, the valuation of group and individual risk, calculations using ‘disproportionality’, and the use of discounting to trade‐off risks through time. This last point has received less attention in the past but is important because of the growing interest in risk‐informed regulation in which policies extend over several timeframes and distribute the risk unevenly over these, or in policies that lead to a nonuniform risk within a single timeframe (such as maintenance policies). The problems associated with giving quantitative support to such decisions are discussed. It is argued that multiattribute utility methods (MAUT) provide an alternative methodology to CBA which enable the four problems described above to be addressed in a more satisfactory way. Through sensitivity analysis MAUT can address the perceptions of all stakeholder groups, facilitating constructive discussion and elucidating the key points of disagreement. It is also argued that by being explicitly subjective it provides an open, auditable and clear analysis in contrast to the illusory objectivity of CBA. CBA seeks to justify a decision by using a common basis for weights (prices), while MAUT recognizes that different parties may want to give different valuations. It then allows the analyst to explore the ways in which different parties might (or might not) come to the same conclusion even when weighting items differently.     

Do Customers Affect the Value Relevance of Sustainability Reporting? Empirical Evidence on Stakeholder Interdependence

In spite of the strategic importance of sustainability reporting in current business practice and the resulting increase in research on its value relevance, studies accounting for stakeholder interdependence are scarce. On the basis of the instrumental stakeholder theory, we investigate whether customers have an impact on the value relevance of sustainability reporting. Using a sample of US listed firms, we show that the value relevance of sustainability reporting is affected by customer profile differences, thereby confirming customer–shareholder interdependence. However, customer profile effects are only predominant if firms' profitability levels are low and disappear as profitability increases. Overall, our findings provide a more nuanced understanding of the value relevance of sustainability reporting. Therefore, we offer managers fine‐grained guidance for value relevant sustainability reporting. Copyright © 2014 John Wiley & Sons, Ltd and ERP Environment     

The Power of Stakeholders' Voice: The Effects of Social Media Activism on Stock Markets

Building on social movement theory, this study assesses the influence of social media activism on the stock market performance of targeted firms. We focus on information published on Twitter by two critical stakeholders: consumer associations and trade unions. To the extent that social media represent a valid medium to mobilize stakeholders' activism, protests on Twitter may damage firm reputation, leading to capital market reactions. Using a corpus of over 1.5 million tweets referring to Spanish listed banks, we study the impact of activism by looking at targeted firms' abnormal variations in price and trading volume. Our findings suggest that the Twitter activism of key stakeholders has a significant impact on investors' decisions. Further, our empirical analyses indicate that the mechanisms affecting investors' behavior differ depending on the characteristics of the stakeholder group. Hence, this study contributes to understanding how social movements influence corporate behavior via social media. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment     

广州琶洲地区展馆搭便车现象研究:成因及影响

广州琶洲地区由原来的城中村转换为现在的会展举办区域,在基础和配套设施尚不完善的情况下,展馆投资热情高涨,出现很多展馆搭便车现象,被业界称为馆外馆,琶洲地区因此短期内土地快速增值.文章力图解答馆外馆搭便车现象产生的理论成因,以及这种现象对广州市会展业产生的影响.该研究历时一年半的调研和70人的访谈,得到如下结论:(1)从成因来看,展馆搭便车的主要对象是广交会,而且广交会作为准公共物品,具有很强的正外部性,被搭便车不可避免；地方政府默许态度成为馆外馆搭便车现象的内化力量,同时由于广交会已经形成很强的参展制度路径依赖,使得已有的利益格局难以突破,也为搭便车者的生存创造了条件.(2)从影响来看,馆外馆搭便车现象对广州市整体会展业影响是弊大于利的,最终将影响其可持续发展.该研究是对已有研究的补充,同时对于中国展馆建设及管理也具有很强的现实意义.     

Environmental Governance of Enterprises and their Economic Upshot through Corporate Reputation and Customer Satisfaction

Drawing on resource‐advantage and signalling theories, we investigate two mechanisms, namely corporate reputation and customer satisfaction, by which the environmental governance of enterprises can benefit their economic performance. Based on secondary data from the 500 largest US enterprises compiled from multiple sources, our findings contribute to the literature by establishing the link between corporate reputation and green reputation. We also establish the economic performance paths of environmental governance via corporate reputation and customer satisfaction. This study expounds on why ‘green’ matters and identifies the performance roles of two corporate strategic resources extractable from the environmental governance of enterprises. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment     

Motivations and Barriers to Corporate Environmental Management

This paper integrates two conceptual frameworks, utility maximization and institutional theory, to analyze voluntary corporate environmental management. The utility maximization or economic approach centers on motivations to decrease cost, increase revenue and improve manager utility. Institutional theory emphasizes how external pressures from market and non‐market constituents shape the firm's environmental efforts. We view the two frameworks as complementary and postulate a model that includes both types of influences. Survey data from six major industries consisting of a diverse set of facilities are used to estimate the effects of economic and institutional factors on a facility's use of environmental practices and pollution‐prevention activities. Our results support the hypothesized model, and show that cost barriers, management attitudes toward environmental stewardship, company ownership and external institutional forces, including competitiveness, investor and regulatory pressures, all affect a facility's environmental practices and pollution prevention activities. Findings suggest that a multifaceted policy strategy is needed to advance corporate environmental management across diverse firms. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment