The determinants of household recycling: social influence,public policies and environmental preferences

Our article aims at understanding the determinants of households’ selective waste-sorting behaviours, based on data from an original survey of 694 individuals in the French Provence–Alpes–Côte d’Azur region. The applied literature focuses mainly on countries with high recycling rates. We focus on a region with the lowest recycling rate in France, a country that recycles less than the European country average. We first apply polychoric principal components analysis to reduce the number of explanatory variables to a set of six factors. In a second step, we use a probit model to estimate the probability of waste sorting as a function of these factors. This model tests several hypotheses emerging from the recent literature on behavioural economics applied to households’ selective sorting. This literature pays particular attention to the social influence on recycling behaviour, which has been studied mostly by sociologists and psychologists. The results of our empirical analysis confirm some of the findings in the literature. However, they also highlight some unique features, such as social influences having a negative impact on recycling. This finding contrasts with most of the literature, which finds a positive relationship of social influence on pro-environmental behaviour.     

Abnormal Returns from Takeover Prediction Modelling: Challenges and Suggested Investment Strategies

While takeover targets earn significant abnormal returns, studies tend to find no abnormal returns from investing in predicted takeover targets. In this study, we show that the difficulty of correctly identifying targets ex ante does not fully explain the below‐expected returns to target portfolios. Target prediction models’ inability to optimally time impending takeovers, by taking account of pre‐bid target underperformance and the anticipation of potential targets by other market participants, diminishes but does not eliminate the potential profitability of investing in predicted targets. Importantly, we find that target portfolios are predisposed to underperform, as targets and distressed firms share common firm characteristics, resulting in the misclassification of a disproportionately high number of distressed firms as potential targets. We show that this problem can be mitigated, and significant risk‐adjusted returns can be earned, by screening firms in target portfolios for size, leverage and liquidity.     

Do Neighbours Influence Value‐Added‐Tax Introduction? A Spatial Duration Analysis

The spatial survival models typically impose frailties, which characterize unobserved heterogeneity, to be spatially correlated. However, the spatial effect may not only exist in the unobserved errors, but it can also be present in the baseline hazards and the dependent variables. A new spatial survival model with these three possible spatial correlation structures is explored and used to investigate the implementation of value‐added tax (VAT) in 99 countries over the period 1970–2009. Estimation is performed by a Bayesian approach through the Markov chain Monte Carlo method. The estimation results suggest the presence of a significant spatial correlation among the VAT introductions of neighbouring countries.     

Breakthrough thinking from inside the box

Companies often begin their search for great ideas either by encouraging wild, outside-the-box thinking or by conducting quantitative analysis of existing market and financial data and customer opinions. Those approaches can produce middling ideas at best, say Coyne, founder of an executive-counseling firm in Atlanta, and Clifford and Dye, strategy experts at McKinsey. The problem with the first method is that few people are very good at unstructured, abstract brainstorming. The problems with the second are that databases are usually compiled to describe current--not future--offerings, and customers rarely can tell you whether they need or want a product if they've never seen it. The secret to getting your organization to regularly generate lots of good ideas, and occasionally some great ones, is deceptively simple: First, create new boxes for people to think within so that they don't get lost in the cosmos and they have a basis for offering ideas and knowing whether they're making progress in the brainstorming session. Second, redesign ideation processes to remove obstacles that interfere with the flow of ideas--such as most people's aversion to speaking in groups larger than ten. This article offers a tested approach that poses concrete questions. For example, what do Rollerblades, H?agen-Dazs ice cream, and Spider-Man movies have in common? The answer: Each is something that adults loved as children and that was reproduced in an expensive form for grown-ups. Asking brainstorming participants to ponder how their childhood passions could be recast as adult offerings might generate some fabulous ideas for new products or services.     

Behaviours and entrepreneurial intention: Empirical findings about secondary students

This paper aims to identify some factors that may be explaining differences among secondary students in start-up intentions. For that, the study develops an entrepreneurial intention model sustained by the use of Azjen’s Theory of Planned Behaviour (TBP). Using a sample of students aged between 14 and 15 years old, a questionnaire based on the Li?án and Chen’s Entrepreneurial Intention Questionnaire was administrated. The purpose is to test a model of entrepreneurial intention using structural equations. The findings point that TPB is an appropriate tool to model the development of entrepreneurial intention through pedagogical processes and learning contexts. The education and training should centre itself much more in changing personal attitudes than in knowledge. Moreover, it is desirable that an entrepreneurship educational programme could contribute to the development of competences related to entrepreneurship, social and civic skills, and cultural awareness.     

Effect of Diversity of Large Wildlife Species on Financial Benefits to Local Communities in Northwest Namibia

There exist few quantitative assessments of the relationship between biodiversity per se and economic benefits at scales that are relevant for conservation. Similarly, the merits of Community-Based Natural Resource Management programs for both wildlife and people are contested. Here, we harness two databases, on wildlife surveys and financial benefits, to address these issues for communal conservancies in northwest Namibia. We use ordination methods to characterize the diversity and stability of large wildlife assemblages on conservancies, and demonstrate that diversity (but not stability) is an important explanator of conservancy financial benefits. Our results indicate that for this area of Namibia, biodiversity, as represented by large wildlife assemblages, has an important, positive effect on the tangible financial benefits that people derive from conservation programs.     

Measurement of organizational investments in social capital: The service employee perspective

This paper describes the development and validation of a measure of organizational investments in social capital (OISC). The scale development process is carried out over three stages (item generation, scale purification, scale validation), with two separate data collection phases involving a total of 735 working adults from multiple and diverse service-related workplace settings. As such, the data provide evidence for the face, content, discriminant, convergent and nomological validity, dimensionality and reliability of the OISC measure. The OISC measure is a concise, unidimensional scale that has the potential for significant usage in the development and testing of theory, as well as practical application in retail and other service provision contexts.     

Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility

This study investigates the effects of internal and external corporate governance and monitoring mechanisms on the choice of corporate social responsibility (CSR) engagement and the value of firms engaging in CSR activities. The study finds the CSR choice is positively associated with the internal and external corporate governance and monitoring mechanisms, including board leadership, board independence, institutional ownership, analyst following, and anti- takeover provisions, after controlling for various firm characteristics. After correcting for endogeneity and simultaneity issues, the results show that CSR engagement positively influences firm value measured by industry-adjusted Tobin’s q. We find that the impact of analyst following for firms that engage in CSR on firm value is strongly positive, while the board leadership, board independence, blockholders’ ownership, and institutional ownership play a relatively weaker role in enhancing firm value. Furthermore, we find that CSR activities that address internal social enhancement within the firm, such as employees diversity, firm relationship with its employees, and product quality, enhance the value of firm more than other CSR subcategories for broader external social enhancement such as community relation and environmental concerns.     

Does Foreign Direct Investment Induce Domestic Mergers?

This paper examines the impact of foreign firm entry on the industry consolidation process in a host country that operates through mergers and exits of incumbent firms. Using a three-stage oligopolistic model, the paper shows that foreign direct investment (FDI) may trigger consolidation via a merger since the approval of a domestic merger by the antitrust authority is more likely in the case a foreign firm enters via FDI and a firm’s incentive for a domestic merger is greater and that, in turn, the possibility to merge and become more efficient modifies the outcome of the game by making FDI compared to exports less likely.