Key impact factors of visitors’ environmentally responsible behaviour: personality traits or interpretive services? A case study of Beijing’s Yuyuantan Urban Park,China

The environmentally responsible behaviour (ERB) facilitates the sustainability of tourism destinations. This study aims to identify the key impact factors to promote visitors’ ERB in urban park and examine the impact mechanism. A total of 567 visitors were surveyed in Beijing’s Yuyuantan Urban Park. Structural equation modelling results indicate that personality traits are the most important factors that affect visitors’ ERB, while the effect of how satisfaction with interpretive services plays upon visitors’ ERB using place attachment as a mediator. Openness traits positively affect satisfaction with experiential services and general behaviour. Additionally, implications in urban park management are provided.     

Measuring the Implementation of Codes of Conduct. An Assessment Method Based on a Process Approach of the Responsible Organisation

More and more organisations formulate a code of conduct in order to stimulate responsible behaviour among their members. Much time and energy is usually spent fixing the content of the code but many organisations get stuck in the challenge of implementing and maintaining the code. The code then turns into nothing else than the notorious "paper in the drawer", without achieving its aims. The challenge of implementation is to utilize the dynamics which have emerged from the formulation of the code. This will support a continuous process of reflection on the central values and standards contained in the code. This paper presents an assessment method, based on the EFQM model, which intends to support this implementation process.     

Is there a Difference? The Performance Characteristics of SRI Equity Indices

Abstract:  This study analyses whether stock indices that represent socially responsible investments (SRI) exhibit a different performance compared to conventional benchmark indices. In contrast to other studies, the analysis concentrates on SRI indices and not on investment funds. This has several advantages, since transaction costs of funds, the timing activities and the skill of the fund management do not have to be considered. A direct measure of the performance effects of SRI screens is therefore examined. The 29 SRI stock indices are analysed by single-equation models as well as by multi-equation systems that exploit the information in the cross-section. SRI stock indices do not exhibit a different level of risk-adjusted return than conventional benchmarks. But many SRI indices have a higher risk relative to the benchmarks. The findings are robust to the use of different benchmark indices and apply to all common types of SRI screening.     

浅析项目法人制对公路工程造价的影响

文章通过分析项目法人制的利弊,提出在项目法人制管理下对工程造价控制的对策和建议。     

The Heavenly Calculus and Socially Responsible Business Conduct: An Explorative Study among Executives

Summary In this paper we present a theoretical economic model, describing the influence of eschatological beliefs of executives on their socially responsible business conduct. The core hypothesis is that the belief that one’s eternal destination depends on how one behaves in business will provide an incentive to socially responsible business conduct. We confront the model with explorative empirical data, collected by in-depth interviews with and questionnaires among twenty Dutch executives. The data provide weak indications that eschatological beliefs influence the executives’ socially responsible business conduct. The authors would like to thank the Dutch Ministry of Economic Affairs and the employers’ association VNO-NCW for their financial support. Thanks also to Boaz van Luijk and Aziza Yahia for their assistance in the collection of data used in this paper. We also thank the editor, professor M.M.G. Fase, and two anonymous referees for their valuable suggestions.     

The Effect of Socially Responsible Investing on Portfolio Performance

More and more investors apply socially responsible screens when building their stock portfolios. This raises the question whether these investors can increase their performance by incorporating such screens into their investment process. To answer this question we implement a simple trading strategy based on socially responsible ratings from the KLD Research & Analytics: Buy stocks with high socially responsible ratings and sell stocks with low socially responsible ratings. We find that this strategy leads to high abnormal returns of up to 8.7% per year. The maximum abnormal returns are reached when investors employ the best‐in‐class screening approach, use a combination of several socially responsible screens at the same time, and restrict themselves to stocks with extreme socially responsible ratings. The abnormal returns remain significant even after taking into account reasonable transaction costs.     

如何策划具有特色的地质博物馆——以郑州黄河国家地质公园地质博物馆为例

地质博物馆是地质公园科普教育的重要场所之一,也是地质公园能否掲碑开园的必备条件,许多地方政府对地质博物馆建设非常重视,不惜投入巨资倾力打造具有地方特色的地质博物馆。郑州黄河国家地质公园利用区内别具特色的黄河、黄土等地质遗迹资源,采用特色鲜明的窑洞与现代材料相融合的建筑形式,将科普教育、科学研究、标本收藏、观赏娱乐为融为一体,充分运用模型、实物、标本、影视等多媒体形式,辅以高科技的声、光、电手段,向游客深入浅出地介绍了地质公园地质遗迹资源丰富的科学内涵,缔造了小窑洞谱写大文章的佳话。     

PAGES AS STAGES: A Performance Approach to Visitor Books

This article offers a contribution to the fields of tourist performance and language. By exploring a visitor book located at a heritage site in Jerusalem, Israel, it argues that texts produced by tourists can assume the semiotic status of performances. Consequently, tourists’ texts should not be viewed merely as instances of “discourse” or “language”, but also as organic parts of the aesthetic and semiotic aspects of tourism. The article describes four dimensions that establish the visitor book as a particular “stage”, and the texts therein as the tourists’ situated performances. Taken together, these dimensions constitute a model for the analysis of linguistic performance and for the semiotic interrelationship between stage and performance in tourism.     

The Ethical Mutual Fund Performance Debate: New Evidence from Canada

Although the academic interest in ethical mutual fund performance has developed steadily, the evidence to date is mainly sample-specific. To tackle this critique, new research should extend to unexplored countries. Using this as a motivation, we examine the performance and risk sensitivities of Canadian ethical mutual funds vis-à-vis their conventional peers. In order to overcome the methodological deficiencies most prior papers suffered from, we use performance measurement approaches in the spirit of Carhart (1997, Journal of Finance 52(1): 57–82) and Ferson and Schadt (1996, Journal of Finance 51(2): 425–461). In doing so, we investigate the aggregated performance and investment style of ethical and conventional mutual funds and allow for time variation in the funds’ systematic risk. Our␣Canadian evidence supports the conjecture that any␣performance differential between ethical mutual funds and their conventional peers is statistically insignificant.      

SMEs and CSR: An Approach to CSR in their Own Words

The academic literature reveals the need to undertake more in-depth field studies in order to discover the organisational culture, the difficulties and the perceptions surrounding CSR in SMEs. This study presents the results of analysis of four case studies on Catalan companies that stand out for their social and environmental practices. The conclusions of this paper are the result of dialogue with the main actors – four medium-sized companies – focusing on their actions, understandings and resistance with regard to CSR. The methodological perspective used was Grounded Theory, with the aim of the study being to contribute towards formalising CSR in SMEs, in their daily practices, by analysing some primary data. The results obtained show how difficult it is for SMEs to understand CSR, beyond the explanation of the specific practices carried out by the companies. They highlight the role played by the values of the founding director in the implementation of CSR programmes; they reveal that SMEs still have a long way to go towards learning how to inform both internal and external stakeholders of their best practices, and; finally, they show the interesting links that SMEs establish between responsible practices, improved competitiveness and economic results. Finally, the text points out the implications that the results of this analysis may have on creating ways of promoting CSR in SMEs. We believe that, in light of the opinions expressed by the companies, public organisations should try to concentrate on creating a favourable framework for responsible competitiveness, as a way to deal with CSR when addressing SMEs.David Murillo is a Researcher at the Institute for the Individual, Corporations and Society (IPES), ESADE Business School, Universitat Ramon Llull and Academic Assistant at the same institution. He is the current coordinator of the SMEs and CSR research field at IPES. He holds a degree in Business Administration, a degree in Human Studies and a diploma in Sociology. He is currently pursuing his PhD in SME CSR.Josep M. Lozano is currently a Professor in the Department of Social Sciences at ESADE, Universitat Ramon Llull and Director of the school’s Institute for the Individual, Corporations and Society (IPES). Co-founder of ética, Economía y Dirección (Spanish branch of the European Business Ethics Network), member of the international Editorial Board of ‘Ethical Perspectives’ and member of the Business Ethics Inter-faculty group of the Community of European Management Schools (CEMS). He has been a highly commended runner-up in the European division of the Beyond Grey Pinstripes Faculty Pioneer Award. Author of Ethics and Organizations. Understanding Business Ethics as a Learning Process. Dordrecht: Kluwer, 2000.