Small and Medium‐Sized Enterprises and Sustainability: Managers' Values and Engagement with Environmental and Climate Change Issues

This article reports on an in‐depth, qualitative study into the pro‐environmental engagement of small businesses in the east of England, with respect to climate change in particular. Managers of environmentally pro‐active small businesses were asked about the pro‐environmental measures they had implemented in their firms, their motivations for doing so, and their understanding of climate change. The managers in this study had a relatively good understanding of environmental issues in general and climate change in particular, and had implemented a range of pro‐environmental measures in their firms. Their understanding of climate change was a holistic one, which sat within their overall understanding of environmental and social issues. While economic arguments and external pressure played a role in their pro‐environmental engagement, perhaps the most notable motivation for managers in this study to engage with environmental and climate change issues was personal values and beliefs. Environmentally engaged managers exhibited an internal locus of control. Some of these findings contrast with the views of key informants in local government and business advice organisations, who tend to emphasise the business case and cost arguments when trying to encourage small businesses towards greater environmental engagement. These findings suggest that public policy and business advice in this area should perhaps focus more strongly on personal values and a sense of being able to contribute to environmental protection in their engagement with small businesses. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.     

What contributes to convention attendee satisfaction and loyalty? A meta-analysis

The significant economic contribution and other positive impacts of the convention industry make it imperative to understand the factors that influence attendees' satisfaction and generate repeat attendance, which is loyalty. A meta-analysis of the convention literature revealed that networking and education are the top contributors to attendee satisfaction. Interestingly, the findings suggest that convention environment is more important for loyalty than satisfaction, whereas destination image is relatively unimportant for either outcome. Perception of service quality is more important than value for both satisfaction and loyalty. The meta-analysis confirmed that there is a strong relationship between attendee satisfaction and loyalty.     

When do firms adjust prices? Evidence from micro panel data

The price-setting behavior of manufacturing firms is examined using a large panel of quarterly firm survey data from 1984 to 2007, which allows changes in firms’ prices to be linked to several firm-specific variables. The results show that state-dependent pricing is clearly present in a low-inflation environment and that variables measuring the current situation of the firm, especially costs for intermediate products, are important determinants of price adjustments. Compared to purely time-dependent features, the state-dependent variables significantly add to the explanatory power of a price adjustment probability model. Macroeconomic factors are significant but contribute little in terms of the goodness of fit. Furthermore, when taking into account sticky plan models by excluding possibly predetermined price changes, the importance of state-dependent factors becomes even greater.     

农户资源与家庭保障——来自湖北农户调查的统计分析

在经济转型时期的中国农村,风险与不稳定因素是经常出现的。农户常常采取以自身资源为基础的手段与策略来抵御风险与不稳定性。在农户为应付传统的风险与不稳定性所采取的各种策略遭受巨大压力的同时,经济转型所带来的新的风险与不稳定因素使得农户面临更大的挑战。从理论和实践上重新思考与探索农户家庭保障问题已显得日益迫切。本文从农村社会保障的农户侧面出发讨论中国农村家庭的经济保障安排问题。通过对湖北省经济发展水平与地理环境不相同的两个县级市２００个农户调查数据的统计分析,讨论农户以自身资源为基础的家庭保障水平以及…     

Is there a unit root in the inflation rate? Evidence from sequential break and panel data models

Using sequential trend break and panel data models, we investigate the unit root hypothesis for the inflation rates of thirteen OECD countries. With individual country tests, we find evidence of stationarity in only four of the thirteen countries. The results are more striking with the panel data model. We can strongly reject the unit root hypothesis both for a panel of all thirteen countries and for a number of smaller panels consisting of as few as three countries. The non-rejection of the unit root hypothesis for inflation is very fragile to even a small amount of cross-section variation. © 1997 John Wiley & Sons, Ltd.     

Elicitation of irrigators' risk preferences from observed behaviour

Water trading in the Murray–Darling Basin of Australia has developed to the point where it is a common adaptation tool used by irrigators, making it an apt case study to elicit the marginal value of irrigation water and irrigators' risk preferences in two key industries with differing levels of water dependence. Our data come from large‐scale and representative surveys of irrigated broadacre and horticultural farms in the Murray–Darling Basin over a 6‐year period. The marginal contribution of irrigation water to profit is estimated at $547 and $61/ML on average in horticulture and broadacre, respectively. Horticultural irrigators are found to be averse to the risk of large losses (downside risk) while broadacre irrigators are averse to the variability (variance) of profit.     

Customers’ Perceptions of Employee Engagement: Fortifying the Service–Profit Chain

This study investigated the three dimensions of employee engagement: dedication, energy, and absorption from the customer’s perspective. The service–profit chain (SPC) and employee behavior that promotes customer satisfaction and loyalty were examined. The results revealed that certain aspects of employee engagement are more readily perceived by consumers and more likely to promote customer satisfaction and loyalty. Findings showed that energy and dedication combined were most likely to foster feelings of satisfaction and loyalty among hospitality patrons. From a theoretical perspective, the study contributes to the literature by enhancing the SPC, revealing new insight into employee engagement, and linking employee engagement to positive consumer outcomes. Hospitality industry professionals may find that employee engagement benefits the customers’ perceptions of the establishment, ultimately increasing profitability. This study utilizes the SPC in the hospitality context and proposes a new link in the chain: employee engagement.     

Supporting Rural Labour Markets

Deprivation and disadvantage in rural areas is often thought to be "hidden" from official statistics largely because people in rural areas are dispersed into small, scattered settlements. This paper draws on research undertaken in two contrasting rural areas to explore one aspect of disadvantage, the labour market, and goes on to consider possible policy mechanisms which might be able to address rural deprivation. In particular, it examines the potential for more flexible policies, which appear to have been successful in urban contexts, but which are targeted at areas with high concentrations of deprivation so that rural areas do not qualify.     

Choosing Winners and Losers in a Classroom Permit Trading Game

This paper presents a classroom game in which students trade pollution permits. By changing the distribution of permits across firms, the game shows students how the allocation of property rights determines the winners and losers in the permit trading system but does not affect the efficiency of the system. This game can be used in a variety of classes, including principles or environmental economics, and can be conducted in a 50-minute class period with follow-up discussion in the next class.     

Tailored to the extremes: Quantile regression for index‐based insurance contract design

A new approach for weather index‐based insurance design based on Quantile Regression (QR) to condition the yield‐index dependency is developed and compared to standard regression technique. Three conceptual different risk measures, i.e., Expected Utility, Expected Shortfall and a Spectral Risk Measure, are used to evaluate the risk reducing properties of these contracts. Our findings show that QR is much more powerful in establishing the yield‐index dependency and lead for all risk measures to a higher risk reduction than the standard technique ordinary least squares (OLS). Thus, QR leads to a more efficient contract design, which is beneficial for both, the insurer (smaller remaining risk) and the insured (higher demand and willingness to pay). Our empirical application is based on a 31 years long time series of wheat yield data from Northern Kazakhstan.