Consumers’ evaluations of the efficiency of actions to improve environmental quality: A comparative study between Brazil and China

There is a gap in our knowledge about environmentally conscious consumers in industrialized economies and the desire to achieve sustainable economies. Given that most aspects of consumer behaviour are culture bound, this paper contributes by comparing consumers’ evaluations of the efficiency of actions to improve environmental quality in two of the most promising industrializing consumer societies: Brazil and China. The proposed conceptual framework includes environmental concerns, perceived consumer effectiveness, green attitudes, green behaviours and external motivators as constructs to explain the perception of efficient environmental support. Field research was conducted in Brazil with 1,149 respondents, and in China with 632 respondents to test the model. The results suggested that the belief that environmental quality can be improved is directly associated with consumers’ internal and external motivators. However, cultural traits drove important differences in the evaluation of the efficiency of such improvements. Specifically, Chinese people tended to rely on collective leadership to create the conditions necessary for improving environmental quality, while they remained concerned with the current status. In contrast, Brazilians accepted more personal responsibility for the results, although they face important constraints, such as the availability of products.     

How resilient and countercyclical were emerging economies during the global financial crisis?

By studying the cross-country incidence of the 2008–2009 global financial crisis, we document a structural break in the way emerging economies responded to the global shock. Contrary to popular perceptions, emerging economies suffered growth collapses (relative to the pre-crisis levels) comparable to those experienced by developed economies, even when they continued growing. Afterwards, most economies returned to their pre-crisis growth rates. Although emerging economies were not able to avoid the collapse originated in the U.S. and then transmitted across countries, they were more resilient during the global crisis than during past crises. Namely, they resumed their higher growth rates earlier and converged more quickly to their pre-crisis growth trend. Moreover, breaking with the past, emerging economies did not fall more than developed economies during the global crisis and were able to conduct countercyclical policies, thus becoming more similar to developed economies.     

Risk Judgments in Climbers: The Role of Difficulty,Meteorological Conditions,Confidence and Appropriate Tools

Risk perception among climbers is a factor that can contribute to injury prevention. The purpose of this study was to analyze how expert climbers make judgments about potential risks to their safety. Specifically, we studied how climbers combine the available information on environmental conditions and personal resources in order to arrive at risk judgments. Sixteen distinct scenarios were presented to 134 climbers, and their risk perception related to each situation was recorded. Findings revealed that all variables were highly relevant for determining risk perception. When all variables were present at the same time, confidence was found to minimize the perception of risks caused by environmental conditions, such as difficult climbing. We conclude that an understanding of how expert climbers combine relevant information in order to judge risk can offer ways for them to take more effective preventive measures against injuries, specifically to identify hazards and their combined effects.     

The anatomy of returns from moving average trading rules in the Russian stock market

This paper examines the profitability of index trading strategies that are based on dual moving average crossover (DMAC) rules in the Russian stock market over the 2003–2012 period. It contributes to the existing technical analysis (TA) literature by comparing for the first time in emerging markets the relative performance of individual stocks’ trading portfolios with that of trading strategies for the index that consists of the same stocks (i.e., the most liquid stocks of the Moscow Exchange). The results show that the best trading strategies of the in-sample period can outperform buy-and-hold strategy during the subsequent out-of-sample period, although with low statistical significance. In addition, we document the benefits of using DMAC combinations that are much longer than those employed in previous TA literature. Moreover, the decomposition of the full-sample-period performance into separate bull- and bear-period performances shows that the outperformance of the best past index trading strategies over is mostly attributable to the fact that they managed to stay mostly out of the stock market during a dramatic crash caused by the global financial crisis.     

The moderating effect of bilateral investment treaty stringency on the relationship between political instability and subsidiary ownership choice

We investigate whether the degree to which a bilateral investment treaty (BIT) protects against expropriation (i.e., its “stringency”) influences the international strategy of multinational enterprises (MNEs) as they invest in countries with varying levels of political instability. We draw on institutional logic and insights from political economics to hypothesize that BIT stringency will moderate the established positive relationship between host country political instability and minority ownership. Analysis of a sample of 289 foreign investments made by AEX-listed Dutch MNEs in 34 countries between 2004 and 2013 provides support: a more stringent BIT will encourage the MNE to choose a majority stake as political instability rises. Robustness tests provide further support for our argument. The results have both managerial and policy implications relating to the role that BIT stringency plays in determining MNE strategy.     

Accountants’ Relief Foundation (ARF): A not-for-profit case examining contribution receipts and distributions

The Accountants’ Relief Foundation case study exposes students to not-for-profit (NFP) transactions and performance evaluation. Your task is to: (1) explain the advantages and restrictions associated with NFPs, (2) describe and calculate customary NFP performance metrics and assess risks, (3) determine the existence of liabilities and expenses, (4) discuss contract-timing issues, (5) evaluate differences between discretionary and non-discretionary power, (6) evaluate contribution alternatives, and (7) use primary and secondary accounting literature to solve the case.     

Using early concept narratives to collect valid customer input about breakthrough technologies: The effect of application visualization on transportation

The value of early customer input has long been recognized by companies. However, especially when breakthrough technologies are involved, more insight in valuable methods for collecting early customer input is needed. In this paper, we propose a method to evaluate a breakthrough technology with customers. First, a creative process should point out applications of the breakthrough technology. Applications allow customers to imagine the benefits of the technology behind it. By using early concept narratives, typically scenarios of somebody using and interacting with the application, this imagination process is enhanced. When no prototypes are available yet, it appears that narratives and visuals allow customers to really “see” the new world of the application, a process called transportation, which is a mix of imagery, feelings, and attention. In an experiment in which we make use of a case of an application of a breakthrough technology, we provide empirical support for our claim that early concept narratives could be a valuable tool to get valid customer reactions. Furthermore, we show which kind of visual format the applications should have in order to optimize transportation. The results of this study will support decision making about how to pursue breakthrough application evaluations early in the product development process.     

Foreign direct investment and governance quality in Russia

This paper studies the effect of poor governance quality on foreign direct investment in Russia. Using a survey of businesses across forty administrative districts, we find that higher frequency of using illegal payments and higher pressure from regulatory agencies, enforcement authorities, and criminals, negatively affect foreign direct investment. Our identification strategy builds on the exogenous cross-regional variation in worker strikes during 1895–1914, the period before the October Revolution. We find that moving from the average to the top governance quality across Russian regions more than doubles the FDI stock.