The effects of third party certification on voluntary self-regulation of accidents in the U.S. chemical industry

We explore whether the introduction of mandatory third party certification in 2005 under the Responsible Care program has reduced the probability and severity of accidents in participating facilities in the U.S. chemical industry. Using a sample of 10,315 observations from 1136 facilities owned by 566 RC and non-RC firms between 1996 and 2010, we estimate the average treatment effect of third party certification. We find that the difference-in-difference estimate of the average treatment effect is statistically insignificant. This result is robust to various model specifications including the potential endogeniety of third party certification due to a firm’s self-selection into RC.     

Preferences, Technology, and the Environment: Understanding the Environmental Kuznets Curve Hypothesis

We derive a simple expression for the income-pollution path using the standard static model of the environmental Kuznets curve (EKC). This expression makes it straightforward to identify the general characteristics of utility and pollution functions that lead to such a curve. We show that suitable preferences can always lead to an EKC while there is no technology that yields an EKC for all types of preferences, and we derive a sufficient condition for technology that leads to an EKC for almost all types of preferences. Our results hold for a model with multiple goods with different pollution intensities and for a production economy with nonconstant relative price of consumption and environmental effort. We derive our results without assuming specific functional forms and we encompass several other models as special cases.     

Adoption of weather‐index insurance: learning from willingness to pay among a panel of households in rural Ethiopia

In this article we examine which farmers would be early entrants into weather‐index insurance markets in Ethiopia, were such markets to develop on a large scale. We do this by examining the determinants of willingness to pay for weather insurance among 1,400 Ethiopian households that have been tracked for 15 years as part of the Ethiopian Rural household Survey. This provides both historical and current information with which to assess the determinants of demand. We find that educated, wealthier individuals are more likely to purchase insurance. Risk aversion is associated with low insurance take‐up suggesting that models of technology adoption can inform the purchase and spread of weather index insurance. We also assess how willingness to pay varied as two key characteristics of the contract were varied and found that basis risk reduces demand for insurance particularly when the price of the contract is high, and that provision of insurance through groups is preferred by female headed households and individuals with lower levels of education.     

Saathi Sanitary Pads: Eco‐friendly pads which will make you go bananas!

Undoubtedly, menstrual pads have made menstruation hygienic and comfortable. However, these commercial disposable sanitary pads have a devastating effect on the environment and are eco disaster. This case discusses about an initiative taken by an Ahmedabad‐based social enterprise and manufacturing company Saathi and founded by three Massachusetts Institute of Technology graduates ‐‐ Amrita Saigal, Grace Kane and Kristin Kagetsu. Their eco‐friendly, biodegradable sanitary pad is an alternative to non‐biodegradable commercial pads which when discarded ends up in sewage, landfills, fields and water bodies posing threat to environment. Moreover, this pad is also an alternative to commercial pads which are made of plastic, cellulose gel, laded with chemical, bleach and fragrance which leads to serious health issues including cervical cancer, urinary tract infection, infertility and birth defect. The present case of Saathi tries to surface out the relationship between sustainability and marketing by focusing on the concept of sustainability marketing. The case discusses the marketing mix strategy used by Saathi. In a country where menstruation is still a social taboo, the case also talks about the challenges faced by Saathi related to price, the environmental awareness and lack of knowledge about menstruation and ill effects of using commercial pads on women health and whether it should consider expansion of its business and enter into the B2C market in India.     

Gender diversity and firm performance: evidence from India and Singapore

ABSTRACT

This study investigates if gender diversity on boards is an effective driver of financial performance. For this purpose, this study choses two countries, one of which has the soft law approach (Singapore) while the other has mandatory requirements (India) on corporate boards gender diversity. By doing so, it examines if there is a comparability between the listed firms of the two countries. Our results suggest that the gender diversity has a positive and significant effect on the financial performance of the firms of both the countries. Although, the gender diversity of the two countries does not seem to affect the growth opportunities of both the countries. Further, our results indicate that the board characteristics affect the performance positively and significantly when the sample is divided into five quantiles for the firms in these two countries. These findings have implications to the managerial decision making and relevance to stewardship theory and resource dependency theory.     

Differences in business undergraduate perceptions by preferred classroom learning environment

Online education continues to grow at business schools. The authors compared undergraduate business student perceptions across three different classroom learning delivery environments: online, hybrid, and face to face. Based on the survey responses using two independent samples, the authors' analyses found that students who preferred online delivery perceived higher timely graduation and were more likely to recommend online or hybrid courses, whereas students' perceptions of persistence and institutional commitment were not related to classroom learning delivery preference.     

Exploring the factors influencing the travel motivations of US medical tourists

Medical tourism (also called medical travel, health tourism, or global health care) is a term initially coined by travel agencies and the mass media to describe the rapidly growing practice of travelling across international borders to obtain health care. In the past decade, the attempt to achieve better health while on holiday through relaxation, exercise, or visits to spas has been taken to a new level with the emergence of developing countries as destinations for medical tourism. It has grown dramatically in recent years primarily because of the high costs of treatment in rich countries, long waiting lists, the relative affordability of international air travel, favourable economic exchange rates, and the availability of well-qualified doctors and medical staff. Keeping in mind the rapid growth of this industry, a study was conducted to shed light on the importance of different factors that influence the travel motivations of US medical tourists to international destinations.     

Impact of Socio-Economic factors on Consumption Expenditure through Public Distribution System in rural India

Impact of public distribution system (PDS) on poverty in rural India is established; however, how the households from different socio-economic backgrounds are procuring through PDS, relatively, needs study. With this objective, influence of factors like poverty status, family size, social group, religion, gender and occupation on probability of household incurring consumption expenditure through PDS has been studied by using unit level data of consumer expenditure survey of National Sample Survey Office (NSSO) and multinomial logistic regression technique. The study is restricted to food grains rice and wheat and reveals that probability of consumption, through PDS, of minorities, economically and socially backward classes are higher, in general.