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31.
Benedikt Unger;Michael Nippa; 《Business Strategy and the Environment》2024,33(5):4086-4107
In view of global warming and growing demands that economies, industries, and firms should be climate-neutral by mid-century, various sources complain that firms are still hesitant to implement a corresponding climate neutrality strategy (CNS). To date, however, there is little empirical evidence or explanation for such an alleged inertia. This study fills this void by analyzing key determinants that may explain whether a CNS is pursued at the firm level. We develop and test hypotheses grounded in theory using firm-level data from the 2021 European Flash Eurobarometer as well as country-level datasets to examine the impact of formal and informal institutions. Our results reveal that the majority of firms across many countries and industries have no explicit CNS. As predicted by institutional logics, the extent of a firm's home country's exposure to climate change, climate problem awareness, and regulatory enforcement has a significant positive impact on the likelihood of CNS being formulated and pursued by firms. Extending traditional structural inertia theory, internal factors cause large and old firms to be more likely to report having explicit CNS. We further find that these structural characteristics partially moderate the link between institutions and CNS. After a thorough discussion of the results, potential limitations, research opportunities, and implications for various stakeholders are highlighted. 相似文献
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Benedikt Koehler 《Economic Affairs》2011,31(1):109-111
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Benedikt Koehler 《Economic Affairs》2015,35(1):52-59
Property was first conceived of as a bundle of rights in early Islam. The legal instrument that crystallised this Islamic conception was the waqf, a legal entity delivering public welfare in accordance with the wishes of a benefactor. Trusts, which evolved in the thirteenth century, have a rationale analogous to that of waqfs, and in fact may have replicated the legal template of waqfs. The finding that waqfs are germane to Islam has ramifications for policies on waqfs in contemporary Islamic societies. 相似文献
34.
Benedikt Mihm 《The German Economic Review》2016,17(4):491-511
The likelihood that a government will repay its sovereign debt depends both on the amount of debt it issues and on the government's future ability to repay. Whilst the former is publicly observable, the government may have more information about the latter than investors. This paper shows that this asymmetric information problem impairs the market's ability to differentiate economies according to their fiscal sustainability, and can lead to a disconnect between bond prices and default risk. The model can help rationalise the behaviour of Eurozone bond prices prior to the recent European sovereign debt crisis. 相似文献
35.
Benedikt Koehler 《Economic Affairs》2006,26(3):67-69
The auditing profession has called for the current regime of unlimited liability to be replaced with liability caps. The Department of Trade and Industry has tabled proposals to reform the structure of the market for audit services. These proposals fall short of meeting the demand for liability limitation but modify the current regime inasmuch as auditor liability, though uncapped, would be proportional to the damage caused by audit failure. This step is unlikely to remedy audit market failure. This article argues the distortion of market incentives in audit markets can be traced to government intervention and the remedy lies in replacing government intervention with competition. 相似文献
36.
Benedikt Koehler 《Economic Affairs》2020,40(3):358-366
In the Summa theologiae, Thomas Aquinas treated the conduct of sales. Aquinas took into consideration writings on the subject in the Bible, Antiquity, and early Christianity. Aquinas differentiated between selling and mis-selling; showed that sales intermediation was an integral component of an economy; and concluded that salespeople were entitled to earn profit. Aquinas overturned a consensus that had obtained in Stoicism and early Christianity regarding duties to disclose private information on volatility of price. Aquinian disposition of the sales process anticipated the economics of information asymmetry. 相似文献
37.
Janina Scheelhaase Wolfgang Grimme Marlene O’Sullivan Tobias Naegler Matthias Klötzke Ulrike Kugler Benedikt Scheier Thomas Standfuß 《Wirtschaftsdienst》2018,98(9):655-663
Decarbonising the transport sector will be one of the biggest challenges in the future. Current innovations in the transport sector will be used to identify greenhouse gas emission reduction methods and the associated costs. Economists from the German Aerospace Center (DLR) have compiled current research results from various DLR institutes which have revealed that a wide range of technological and organisational innovations for reducing climate-related emissions are available with varying market maturity. Increasing technological efficiency alone, however, is not enough to achieve the ambitious climate targets. Good policies are also essential to take things to the next level. 相似文献
38.
This paper studies the effects of the strength of bilateral investment treaties (BITs) on foreign direct investment (FDI) activity. We develop an index for the strength of international dispute settlement provisions included in BITs in order to examine the role the content of BITs plays in attracting FDI. To this end, we make use of data from UNCTAD's International Investment Agreement Mapping Project and measure the provision strength of 2,571 BITs. Using panel data of bilateral and total FDI inflows and inward FDI stocks, we study the effect of BITs on FDI. Our main finding indicates that stronger international dispute settlement provisions in BITs are indeed associated with positive effects on FDI activity. 相似文献
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40.
Review of World Economics - Genetic distance between countries’ populations has been shown to proxy cross-country differences in cultures and preferences. In an unbalanced panel of 133... 相似文献