Irish credit unions: Investigating performance determinants and the opportunity cost of regulatory compliance

The study investigates how producer-specific environmental factors influence the performance of Irish credit unions. The empirical analysis uses a two-stage approach. The first stage measures efficiency by a data envelopment analysis (DEA) estimator, which explicitly incorporates the production of undesirable outputs such as bad loans in the modelling, and the second stage uses truncated regression to infer how various factors influence the (bias-corrected) estimated efficiency. A key finding of the analysis is that 68% of Irish credit unions do not incur an extra opportunity cost in meeting regulatory guidance on bad debt.     

Hardiness, stress, and use of ill-time among nurse managers: is there a connection?

Intense job-related demands often result in effects on job performance and increased use of ill-time. In this study, associations between hardiness, stress, and use of ill-time among nurse managers were examined. High-hardy/low-stress managers used 27% less ill-time than those low-hardy/high-stressed.     

Estimators for particulate sampling derived from a multinomial distribution

Counting the number of units is not always practical during the sampling of particulate materials: it is often much easier to sample a fixed volume or fixed mass of particles. Hence, a class of sampling designs is proposed which leads to samples that have approximately a constant mass or a constant volume. For these sampling designs, estimators were derived which are a ratio of arbitrary sample totals. A Taylor expansion was used to obtain a first-order approximation for the expected value and variance in the limit of a large batch-to-sample size ratio. Furthermore, a π -estimator for a ratio of batch totals was found by deriving expressions for the first- and second-order inclusion probabilities. Practical application of the π -estimator is limited because it requires inaccessible batch information. However, when the denominator of the estimated batch ratio is the batch size, the π -estimator becomes equal to a sample total divided by the sample size in the limit of a large sample-to-particle size ratio. As a consequence, the obtained sample ratio becomes an unbiased estimator for the corresponding batch ratio. Retaining unbiasedness, the Horvitz–Thompson estimator for the variance, which also contains inaccessible batch information, is replaced by an estimator containing sample information only. Practical application of this estimator is illustrated for the sampling of slag, produced during the production of steel.     

Prospecting Research: Knowing when to Stop

An important aim of many surveys is to undertake prospecting research: the search for new possibilities and an understanding of the diversity in a population. This paper develops a method—the extrapolation of resampled possibilities (ERP)—for predicting how much new information will be revealed by extending a sample. This is useful for deciding whether it is likely to be worthwhile sampling more cases, bearing in mind the costs and the benefits. The method avoids making any assumptions about the nature of the underlying population, apart from the information implicit in the existing sample.     

What organic and Fair Trade labels do not tell us: towards a place‐based understanding of certification

Certified organic and Fair Trade food products are making their way into the mainstream among Western consumers and, as such, are increasingly viewed as sustainable and preferable alternatives to the conventional food system, with its many negative social and environmental externalities. Two case studies discussed in this paper indicate, however, that operationalizing the goals for organic and Fair Trade food via certification can be a complex and difficult process. Specifically, the implementation of certification creates a disconnect between expectations raised by labels and the ‘lived experience’ of small farmers. In the case of small farmers in Mexico growing certified organic tomatoes and herbs, certification exacerbated socio‐economic inequality and disrupted local social norms by creating a hyperfocus on surveillance. In the case of small farmers in the Dominican Republic growing Fair Trade bananas, the certification process prioritized the demands of the market to such a degree that the farmers were largely unaware that they were participating in anything ‘alternative’, and it simultaneously reinforced socio‐economic inequalities within the communities. These findings suggest that if the appeal of certified labels rests on the integrity of what the label represents to consumers, then such consumer movements would benefit from a more robust analysis of how certification intersects with and affects local spaces, cultures and communities at the point of production.     

Comparing online and non‐online shoppers

A web‐based survey was completed by 130 faculty and staff from a university located in the south‐eastern United States. The purposes of this study were to investigate: (a) consumer characteristics related to online shopping; (b) benefits of online shopping as perceived by online shoppers; and (c) concerns about online shopping as perceived by non‐online shoppers. Responses were analysed using SPSS for tests of chi‐square. Findings suggest that the differences between online shoppers and non‐online shoppers correspond with Rogers’ 1 categories of adopters, and that the educational needs of consumers also differ based on their previous experience with online shopping.     

A COST MODEL OF BUILDING SOCIETIES AS PRODUCERS OF MORTGAGES AND OTHER FINANCIAL PRODUCTS

This study examines the structural characteristics of UK building societies. The analysis views societies as multi-product firms which produce both mortgage and non-mortgage products. A two output, three input hybrid translog cost function is employed to obtain econometric measures of overall and augmented economies of scale; input-specific and augmented input-specific economies of scale; product-specific scale economies; and economies of scope. The empirical analysis offers three key insights into the industry. First, there is evidence of significant augmented economies of scale for both national and regional societies. Second, only national societies are able to reap input-specific economies of scale through the use of capital. Third, for regional and local societies, cost inefficiencies actually emerge in their production of mortgage and non-mortgage products.     

Toward a theory of ecosystem well-being

Can the main methods of social welfare analysis be extended to cover multiple species? Following a non-anthropocentric approach, we examine the pros and cons of various objective and subjective methods of well-being comparisons across species. We argue against normalizing by specific capacities but in favor of taking account of individual preferences and specializations. While many conceptual and practical difficulties remain, it appears possible to develop methods for the assessment of collective well-being of multi-species communities and ecosystems.

     

Integrating crop modelling and production economics to investigate multiple nutrient deficiencies and yield gaps

A method is described for integrating crop modelling and production economics to quantify optimum applications of multiple nutrients and yield gaps. The method is demonstrated for crop production in the high‐rainfall zone of southern Australia. Data from a biophysical crop model were used to overcome the persistent problem of inadequate experimental data. The Mitscherlich function was expanded to accommodate four variable inputs – nitrogen, phosphorus, potassium and sulphur – and the expansion path was used to determine the economic optimum application of all four nutrients. Modelling revealed the state‐contingent yield potential and the extent to which unrealised yield could be explained by profit‐maximising behaviour and risk‐aversion by growers. If growers and their advisors were guided by the methods described, they would be better equipped to assess crop nutrient demands and limitations, predict yield potential, additional profit and the risks associated with high input systems in a variable climate. If scientists were more aware of the extra profits and the risks involved (as well as the quantitative relationships between inputs and outputs) when thinking about what to produce and how to do so, they would be more circumspect about the net benefits to be obtained from closing yield gaps.