ENVIRONMENTAL FINANCE: VALUE AND RISK IN AN AGE OF ECOLOGY

Environmental issues are restructuring markets and redirecting capital flows throughout the world. An outline is provided of concerns facing the development of an environmentally responsible or ‘environmental finance’ perspective. It reviews the major ways in which organizations are responding to environmental threats and opportunities in the three major branches of finance — corporate finance, investments and financial institutions — highlighting in particular novel programs and initiatives. In the past, financial concerns have exacerbated the degradation of the natural environment; in the future, they probably hold the key to their preservation.     

Analyzing the volume and nature of emergency medical calls during severe weather events using regression methodologies

An effective emergency medical service (EMS) response to emergency medical calls during extreme weather events is a critical public service. Nearly all models for allocating EMS resources focus on normal operating conditions. However, public health risks become even more critical during extreme weather events, and hence, EMS systems must consider additional needs that arise during weather events to effectively respond to and treat patients. This paper seeks to characterize how the volume and nature of EMS calls are affected during extreme weather events with a particular focus on emergency preparedness. In contrast to other studies on disaster relief, where the focus is on delivery of temporary commodities, we focus on the delivery of routine emergency services during blizzards and hurricane evacuations. The dependence of emergency service quality on weather conditions is explored through a case study using real-world data from Hanover County, Virginia. The results suggest that whether it is snowing is significant in nearly all of the regression models. Variables associated with increased highway congestion, which become important during hurricane evacuations, are positively correlated with an increased call volume and the likelihood of high-risk calls. The analysis can aid public safety leaders in preparing for extreme weather events.     

What is a strategic acquisition? Decision modeling in support of foreclosed housing redevelopment

This paper describes and develops a model for calculating location-based strategic values of foreclosed properties considered for acquisition and redevelopment by community development corporations (CDCs). A property’s strategic value refers to its proximity to site-specific neighborhood amenities and disamenities (e.g. schools, public transit, distressed properties), given the relative importance of that proximity to CDC organizational and community objectives. We operationalize the concept of strategic value, and apply this concept to a salient public sector decision problem. Using data and value assessments from a CDC engaged in foreclosed housing redevelopment, we compute measures of strategic value for a set of acquisition candidates. We show that strategic values can differ in systematic ways depending on the types of amenities and disamenities identified as relevant for CDC acquisition decisions, the relative importance assigned to those amenities and disamenities, and the utility maximization objectives of the CDC. We conclude by proposing a multi-criteria decision model for foreclosed housing acquisition and redevelopment which incorporates a theory of residential housing impacts for which strategic value measures are a special case.     

A true simulation study of three estimators at equal protection of respondents in randomized response sampling

In this study, three different estimators for estimating the proportion of a sensitive attribute in survey sampling are compared at equal protection of the respondents. The three estimators considered are due to Odumade and Singh (2009, Comm. Statist. Theory Methods) , Singh and Sedory (2011, Sociological Methods and Research) and a new estimator obtained by minimizing a chi‐squared distance. A SAS Macro is developed to compare these three estimators using a simulation study at equal protection of the respondents. A set of data from a real face‐to‐face interview was collected using two decks of cards and has been analyzed. The results are discussed.     

Optimum allocation in multivariate stratified random sampling: stochastic matrix mathematical programming

The allocation problem for multivariate stratified random sampling as a problem of stochastic matrix integer mathematical programming is considered, minimizing the estimated covariance matrix of estimated means subject to fixed cost or fixed total sample size. With these aims the asymptotic normality of sample covariance matrices for each strata is established. Some alternative approaches are suggested for its solution. An example is solved by applying the proposed techniques.     

A Method to Evaluate Mode Effects on the Mean and Variance of a Continuous Variable in Mixed‐Mode Surveys

Les enquêtes à mode de collecte mixte, dans lesquelles le choix du mode de réponse est laissé aux personnes interrogées, sont de plus en plus répandues. Cette possibilité du choix du mode de réponse peut induire une confusion entre deux sortes d'effets : les effets de sélection et les effets de mesure. L'estimation séparée de ces deux effets est impossible à partir des seules données d'une enquête à mode de collecte mixte. Dans cet article, nous montrons comment la même estimation devient possible à partir d'une comparaison entre les résultats d'une enquête à mode de collecte mixte et ceux d'un enquête à mode de collecte unique basées sur le même questionnaire. La méthode que nous proposons permet d'estimer l'effet du mode de réponse sur la moyenne et la variance d'une variable de réponse continue. Elle est illustrée par l'estimation des effets du mode de réponse sur six questions relatives aux opinions vis‐à‐vis des enquêtes.     

Expansion and Efficiency in Banking: Evidence from Ghana

We use a translog functional form to estimate a stochastic frontier function of cost and profit efficiency (PE) of Ghanaian banks under the Battese–Coelli time‐varying decaying inefficiency parameterization for (unbalanced) panel data. We regressed efficiency estimates on a distance variable controlling for bank size, total cost, and profits. We find that Ghanaian bank PE is worsening, whereas cost efficiency is improving for the period analyzed. Our results show that PE is not related to distance, size, or cost and profitability ratios. Distance is however positively and significantly related to cost efficiency. Cost efficiency is however not influenced by size or cost and profit ratios. Copyright © 2011 John Wiley & Sons, Ltd.     

Humorous coping scales and their fit to a stress and coping framework

The focus of this study is on the fit between the item content of scales measuring humorous coping and basic concepts of stress and coping theory. To investigate this fit 81 items from seven currently available humorous coping scales have been subjected to a facet analysis, using the tool of a mapping sentence. Three facets derived from stress and coping theory were part of this mapping sentence: external demands, humorous responses and coping aims. Because of the claim that humorous coping may be related to physical health dimensions, special attention has been paid to two health-related coping aims: cognitive reappraisal and response-focused coping responses. Five raters categorized the facets and their respective categories. Some humorous coping scales showed an underrepresentation of “external demands” and “humorous responses” and only a few scales covered the “aims” facet adequately. Reliability and agreement parameters varied considerably among scales, both on facet level and on category level. The Waterloo University Humor Inventory (WUHI) was a positive exception to this pattern. Findings are discussed in the light of specific characteristics of the scales included. Possible improvements of humorous coping measurement in health-related research are proposed, as well as adaptations to the rating procedures.