Has the CSR engagement of electrical companies had an effect on their performance? A closer look at the environment

Even though electrical companies attain a top ranking in the publication of CSR reports, they are often accused of 'green‐washing' due to their bad environmental reputation. The current economic crisis is testing their real CSR commitment more than ever, especially when this goes beyond its economic consequences. Based on a worldwide sample of electrical companies, we are going to study why companies are being socially responsible. We wish to know if it is due to the impact on the firms' performance or whether there are other motives (legitimation, improving their reputation) that lead companies to carry out these practices. We will also consider if it changes across the kind of CSR action considered. The results show that there is an economic justification beyond the socially responsible behaviour of the electrical companies. Additionally, most kinds of CSR action (community, diversity, corporate governance, product responsibility) are also carried out looking for economic rewards. However, the CSR actions oriented to the environment are mainly motivated by their need to improve their image and reverse their negative impact. Copyright © 2014 John Wiley & Sons, Ltd and ERP Environment     

Sparse Partial Least Squares in Time Series for Macroeconomic Forecasting

Factor models have been applied extensively for forecasting when high‐dimensional datasets are available. In this case, the number of variables can be very large. For instance, usual dynamic factor models in central banks handle over 100 variables. However, there is a growing body of literature indicating that more variables do not necessarily lead to estimated factors with lower uncertainty or better forecasting results. This paper investigates the usefulness of partial least squares techniques that take into account the variable to be forecast when reducing the dimension of the problem from a large number of variables to a smaller number of factors. We propose different approaches of dynamic sparse partial least squares as a means of improving forecast efficiency by simultaneously taking into account the variable forecast while forming an informative subset of predictors, instead of using all the available ones to extract the factors. We use the well‐known Stock and Watson database to check the forecasting performance of our approach. The proposed dynamic sparse models show good performance in improving efficiency compared to widely used factor methods in macroeconomic forecasting. Copyright © 2014 John Wiley & Sons, Ltd.     

Creation of models for calculation of coefficients of terrain passability

Quality & Quantity - The content of this article is a paper about a complex mathematical model of terrain passability which respects geographical and meteorological conditions in terrain and...     

A Fuzzy clustering approach to the key sectors of the Spanish economy

The search for key sectors in an economy has been and still is one of the more recurrent themes in input–output analysis. When using clustering techniques, sectors can only belong to a group, having a particular performance. But, actually, the same sector could be important from different perspectives at the same time, to a different degree. So, a fuzzy clustering approach is needed. In this work we propose a multidimensional approach to classify the productive sectors of the Spanish input–output table for 1995, based on three groups of variables: those related to their productive integration, others measuring their specific weight in the economy and finally some showing their economic dynamic. We also incorporate into the analysis the technological level, which being a categorical variable presents special methodological problems. All these questions are tackled applying a robust and fuzzy clustering analysis, which gives as a result a classification of sectors illustrating the role that each one plays in the Spanish economy.     

Market entry of firms with different legal forms: an empirical test of the influence of institutional factors

Drawing upon institutional theory we develop a conceptual model and investigate the determinants of market entry for worker cooperatives, publicly traded and limited-liability companies. Our results show that formal institutional conditions (i.e., mercantile legislation) influence the start-up choice of entrepreneurs regarding the legal form of their new venture. In addition, we take into account the influence of informal institutional conditions (i.e., local corporate culture) on the market entry rate of firms with different legal structures. Findings show that, while market entry is sensitive to the general economic climate, entry rates of firms with a different legal structure respond differently to the same economic conditions.

Maintaining Climate Change Experiments: Urban Political Ecology and the Everyday Reconfiguration of Urban Infrastructure

Climate change governance is increasingly being conducted through urban climate change experiments, purposive interventions that seek to reconfigure urban sociotechnical systems to achieve low‐carbon and resilient cities. In examining how experiments take effect, we suggest that we need to understand not only how they are made and assembled, but also how they are maintained within specific urban contexts. Drawing on literatures from urban political ecology and the specific debate on urban repair and maintenance, this article examines maintenance in two case studies of climate change experiments in housing in Bangalore (India) and Monterrey (Mexico). We find that maintenance is a crucial process through which not only urban obduracy is preserved, but also the novel and innovative character of the experiment is asserted and reproduced. The process of ‘maintaining’ experiments is a precarious one, which requires a continuous external input in terms of remaking the experiment materially and discursively. This process causes further reconfigurations beyond the experiment, changing the patterns of responsibility attribution and acceptability that configure the urban fabric.     

Regional variations in entrepreneurial cognitions: Start-up intentions of university students in Spain

Empirical research has recently paid considerable attention to the role of environmental factors in explaining regional variations in entrepreneurial activity. However, cognitive models have not usually included these factors in their analyses. Therefore, the main objective of this study is to identify some of the environmental cognitive elements that may explain regional differences in start-up intentions. Thus, an entrepreneurial intention model is developed, theoretically based on the planned behaviour approach, institutional economic theory and social capital theory. The empirical analysis is carried out using structural equation techniques over a sample of 549 final year university students from two Spanish regions (Catalonia and Andalusia). Results confirm that valuation of entrepreneurship in each region helps explain regional differences in entrepreneurial intentions. As expected, social valuation of the entrepreneur was higher in the more developed region (Catalonia), positively affecting perceived subjective norms and behavioural control. In Andalusia, the influence of perceived valuation of the entrepreneur in the closer environment was more important, affecting attitude towards the behaviour and subjective norms. These results explain some of the differences in the pool of potential entrepreneurs in each region. They also justify the need by public-policy decision-makers to promote more positive entrepreneurial values in relatively backward regions.     

Mixed methods studies in entrepreneurship research: Applications and contributions

Mixed methods research is becoming an increasingly popular approach in several fields. However, its application in the field of entrepreneurship has not been studied. The authors reviewed the use of mixed methods research in three entrepreneurship journals and two leading generalistic journals that publish entrepreneurship research, examining the main purposes and designs. A total of 955 articles were reviewed and 81 mixed methods studies were identified. The analysis of these articles revealed opportunities associated with the application of this approach. Mixed methods may help to improve entrepreneurship research addressing challenges emphasized in earlier studies. Suggestions on why and how to use mixed methods research are offered, and recommendations are provided to guide future mixed methods studies to advance our understanding of the entrepreneurial phenomenon.     

New product development in foreign customer relationships: a study of international SMEs

Abstract

This study identifies a gap in research concerning how small and medium-sized enterprises (SMEs) can benefit from pursuing locally (rather than globally) oriented internationalization strategies. Becoming overly dependent on one single foreign market could potentially reduce the inflow and diversity of new knowledge that can serve as input for new product development. This study discusses how this risk can be minimized. In this endeavour we create a theoretical model that investigates how the local sales concentration and relationship-specific commitment of SMEs relates to new product development. To do this we draw on the behavioural internationalization process framework. The theoretical model is tested on an effective sample of 188 Swedish SMEs. The results show that relationship-specific commitment mediates the effect of local sales concentration on new product development. The implication is that investments which enable collaboration in important business relationships are crucial requisites for keeping firms innovative and in pace with market fluctuations. The findings thus contribute to international business literature by showing that a local market scope of operations combined with a relationship orientation are beneficial for new product development in international SMEs.     

Lobbying on Accounting Standards: Evidence from IFRS 2 on Share-Based Payments

Lobbying is an essential part of the International Accounting Standards Board (IASB) standard-setting process. There is still much to learn, however, about key aspects of the roles played and arguments employed by various constituents when lobbying practices do occur. This paper focuses on the regulation of share-based payments. As these transactions were under-regulated before International Financial Reporting Standard (IFRS) 2, we expect that the strong debate that occurred during the 1990s resulted in conflicting opinions when this standard was under discussion. To analyse lobbying behaviour and assess its influence on the IASB's decision-making, we conducted a content analysis of 539 letters addressing the documents issued by the G4+1 and the IASB preceding IFRS 2. Consistent with the rational-choice model, our analysis of lobbying activity shows that preparers constituted the most active group, particularly when the IASB started the project, whereas participation of standard-setters increased at the end, which is more consistent with institutional theory. A common strategy was to provide arguments merely on points of disagreement. Preparers and consultants constituted the only groups using economic-consequences arguments to disagree, but later enlisted conceptual arguments as well. The IASB considered only conceptual arguments, and no interested party had a dominant influence.