Water losses and hydrographical regions influence on the cost structure of the Portuguese water industry

Despite the growing research about water utilities, some questions still remain to be solved on the supply side, which are frequently absent from empirical studies based on the estimation of cost functions. This paper aims to fill to some extent this gap in the literature by focusing the consequences of water losses reduction and the management of water resources based on their availability at an integrated river basin level. Major findings derived from the estimation of a multiproduct cost function suggest advantages from reducing water losses, given that an adjusted measure of economies of scope, adapting the fact that water lost cannot be sold, reveals that there are small diseconomies of scope. In addition, generally the variables related to the hydrographical regions used have significant effects on water costs. Since the outcomes also reveal the existence of economies of scale, more concentration in the Portuguese water industry at the retail level would be beneficial.     

Classical Surplus Theory and Heterodox Economics

It has recently been suggested that heterodox economics can benefit from an engagement with classical surplus theory. However, caution is often recommended due to the ideological concepts that are embedded in classical political economy. This article argues that many of the ideological concepts that are often attributed to classical political economy are actually not part of classical political economy, but rather of a “vulgar” form of political economy, a project that emerged after Ricardo. This vulgar project, often termed as “Ricardian economics,” is often mistakenly taken to be a development of classical political economy, but it is actually a rupture with the classical political economy of Petty, Smith, and Ricardo, as Marx, and later Sraffa, argued. Once this is acknowledged, the relationship between classical political economy and heterodox economics becomes clearer.     

Can Hand Washing Influence Hedonic Food Consumption?

The act of hand washing has been a routine part of hygienic practices across time and society. Aside from its physiological effects, hand washing has also been shown to symbolically cleanse individuals of their transgressions. However, most research demonstrating the metaphorical effect of hand washing has mainly been focused within the domain of morality. The objective of the current research is to explore the role of hand washing on consumption behavior, and more specifically, hedonic food consumption. Across two studies, this article establishes the role of hand washing after hedonic food consumption as well as prior to a hedonic food choice. In Study 1, washing one's hands after consumption of hedonic food decreased perceived guilt. In Study 2, washing one's hands prior to choice led to an increased likelihood of choosing a more hedonic (compared to less hedonic) food item. Thus, by washing one's hands, individuals are provided with a license to indulge in hedonic foods without the guilt that is commonly associated with such a choice. Several implications for consumer behavior research and the effects of hand washing on food decision making are discussed.     

Why governments sell public firms: The Spanish case

This paper compares the goals that the successive Spanish governments have actually pursued (as deduced from the set of privatizations carried out over the last fifteen years) with the standard hypotheses used in economic literature to explain privatization in general. The results show that the cash-collecting goal appears as the relevant explanatory hypotheses for most of the privatizations carried out. Also, all of the state-owned firms that operated under monopoly conditions have actually been privatized but retain, at least partially, their monopoly position (they involve activities where natural monopoly features are present). This has led to establishing new regulatory rules (reregulation) and that privatization, per se, has not resulted in substantial improvements in competition.An earlier version of this paper was presented at the Forty-Eighth International Atlantic Economic Conference, October 7–10, 1999, Montreal, Canada.     

Sustainability drivers in food retail

Sustainability has become a relevant issue for retailers. We develop an integrated model with three drivers of retailer's investments in sustainability. First, the more their processes, human resources and customer driven capabilities are developed, the more investments in sustainability tend to occur. Second, retailers leverage their relationships with suppliers to invest in sustainability. Third, competition and economic instability may also lead to long run investments in social and environmental. We tested three hypotheses by surveying 101 retailers operating supermarkets, hypermarkets and neighborhood stores that focus mainly on food with a limited offering of general merchandise and apparel. Our results show the importance of customer driven capabilities for investments in sustainability. Communication with the supplier also has an impact on investments, while the process and policies of the supplier relationship do not. Retailers invest in sustainability to coordinate this relationship. Our study sheds light on the drivers for sustainability and offers an understanding of how a retailer may invest further in sustainability.     

Determinants of debt: Empirical evidence on firms in the district of Santarém in Portugal

In recent decades, the theme of the capital structure and its determinants has caused some controversy and aroused great interest in the financial domain. Several theories and studies have emerged applying to this domain. This study aims to test the explanatory power of the determinants of debt which have the greatest support in the financial literature, size, growth, business risk, profitability, tangibility and non-debt tax shields and its validity in accordance with the theories of capital structure, on firms in Santarém's district. The sample contains financial data of 6184 firms for the period 2008–2012. The results indicate that firms in Santarém's district in Portugal have a high level of debt, using mainly short-term debt. The growth and profitability have proved to be determinants of debt, confirming the Pecking Order Theory.     

University Company Government Interaction： FAPEMIG as Propeller Agent of the Scientific-Technological Development in Minas Gerais, Brazil

This article aims to present the main indicators for Science, Technology, and Innovation （ST＆l） generated by the Fundacao de Amparo a Pesquisa do Estado de Minas Gerais （FAPEMIG） in four years （2008-2011）. The methodology used was a case study, with documentary research, held in the annual reports of activities of the foundation. The results showed that all indicators analyzed in aggregate form, evolved gradually. It is concluded that the FAPEMIG comes complying with their mission to induce and encourage research and scientific and technological innovation for the development of the State of Minas Gerais in the southeast region, maintaining the recognition as one of the main agents of development inductors ST＆I in Brazil.