Reframing the Business Case for Diversity: A Values and Virtues Perspective

We provide an ethical evaluation of the debate on managing diversity within teams and organizations between equality and business case scholars. Our core assertion is that equality and business case perspectives on diversity from an ethical reading appear stuck as they are based on two different moral perspectives that are difficult to reconcile with each other. More specifically, we point out how the arguments of equality scholars correspond with moral reasoning grounded in deontology, whereas the foundations of the business case perspective are crafted by utilitarian arguments. We show that the problems associated with each diversity perspective correspond with the traditional concerns with the two moral perspectives. To resolve this stalemate position, we argue that the equality versus business case debate needs to be approached from a third, less well-known moral perspective (i.e. virtue ethics). We posit that a focus on virtues can enhance equality by reducing prejudice and illustrate this by applying it to the HRM domains of recruitment and selection and of performance management. Subsequently, we argue that values are key to aligning virtues with each other and with corporate strategy, delineate our values and virtues perspective on diversity, and argue why and how it can enhance organizational performance.     

Agrobiodiversity,farm profits and land fragmentation: Evidence from Bulgaria

This paper presents an empirical analysis of the role of land fragmentation, crop biodiversity and their interplay with farm profitability. Original primary data are drawn from a survey conducted in the Plodiv region of Bulgaria. The econometric results stress the ambiguous role of land fragmentation on farm profitability. On one hand, land fragmentation reduces farm profitability. On the other hand, land fragmentation fosters crop diversification. We also find that crop biodiversity plays a beneficial role in farm profitability. Policies that aim to increase land consolidation and reduce fragmentation may overlook the positive link between diversity and plot heterogeneity. Policies that encourage land consolidation should, therefore, consider the crucial role that this has on other variables such as farm biodiversity.     

Market Performance of Potato Auctions in Bhutan

Abstract

Market performance with respect to a main horticultural export commodity in Bhutan is the subject of this paper. Imperfections in (market) infrastructure and market structure and conduct may prevent an optimal price for farmers. Market performance is assessed by testing the law of one price for this commodity. This is done by testing three series of auction price data on both long-run and short-run price integration. It is concluded that for the period 1996-2000 the auction prices were interrelated both in the long and short run with one of the three auctions as the price-leading market. In contrast, in the period 2001-2005 the market arbitrage process slowed down, indicating the rise of market imperfections. Policy implications are suggested.     

Application of spatial resource data to assist in farmland valuation

A land transaction is generally not a recurring action for most buyers and sellers, their experience and knowledge are limited, for this reason the services of property agents and valuers are sometimes used, just to get more information available. The condition of insufficient information and the inability to observe differences in land productivity gives rise to the undervaluation of good land and overvaluation of poor land. The advent of the Internet made access to comprehensive information sources easier for property agents and valuers whose critical time and resources can now be effectively managed through Geographic Information System (GIS) integrated workflow processes. This study aims to develop the blueprint for a farm valuation support system (FVSS) that assists valuers in their application of the comparable sales method by enabling them to do the following: (1) Rapid identification of the location of the subject property and transaction properties on an electronic map. (2) Comparison of the subject property with the transaction properties in terms of value contributing attributes that can be expressed in a spatial format, mainly (a) location and (b) land resource quality factors not considered in existing valuation systems that primarily focus on residential property. An algorithm, that generates an index value, was developed to allow easy comparison of the land of a subject property and that of transaction properties. This index value distinguishes the proposed FVSS from other existing property valuation systems and can therefore be used by valuers as a first approximation of a property's soil suitability, before doing further field work. The FVSS was successfully developed and tested, primarily using data obtained in the Western Cape, South Africa.     

Global models applied to agricultural and trade policies: a review and assessment

The continuing process of global integration bears implications for farmers and related supplying and processing industries in all parts of the world, but also for the rest of the world economy. An assessment of agricultural and trade policy impacts is bound to be complex and is often supported by quantitative modeling analysis. This article provides an assessment of the present state of applied modelling in the area of trade and agricultural policies. We provide in this paper a comparative assessment of alternative modelling approaches, considering a total of 16 partial equilibrium and general equilibrium models. The assessment includes theoretical modelling foundations, datasets employed and institutional aspects, such as model maintenance and dissemination of results. A typology of models is provided by structuring the assessment along a clear set of evaluation criteria.     

Testing the induced innovation hypothesis: an error correction model of South African agriculture

This paper applies cointegration techniques to a model of induced innovation based on the two-stage constant elasticity of substitution (CES) production function. This approach results in direct tests of the inducement hypothesis, which are applied to data for South African commercial agriculture for the period 1947–1991. South African data is used because the policy changes have been substantial enough that the factor and price ratios have turning-points, rather than being monotonie. The time series properties of the variables are checked, cointegration is established, and an error correction model (ECM) constructed, allowing factor substitution to be separated from technological change. Finally, the ECM formulation is subjected to causality tests, which show that both the factor price ratios and R&D and extension expenditures are Granger-prior to the factor-saving biases of technological change. Thus, each stage of the analysis corroborates the inducement hypothesis. However, straightforward price-inducement is only part of the explanation of changes in factor ratios. Policy-induced innovation, in response to tax concessions and subsidised credit, is also present.     

Space matters: the importance of amenity in planning metropolitan growth

Most Australian capital cities require many 100,000s of additional dwellings to accommodate demographic change and population pressures in the next two or three decades. Urban growth will come in the form of infill, consolidation and urban expansion. Plans to redevelop environmental amenities such as parks and open green spaces are regularly being put forward to local councils and State governments. Maintaining parks and reserves represents one of the largest costs to local councils. To aid in the evaluation of some of the different propositions, we report the results of a spatial hedonic pricing model with fixed effects for Adelaide, South Australia. The results indicate that the private benefits of a close proximity to golf courses, green space sporting facilities, or the coast, are in the order $0.54, $1.58, and $4.99 per metre closer (when evaluated at the median respectively). The historic Adelaide Parklands add $1.55 to a property’s value for each additional metre closer. We demonstrate how the estimated model could be used to calculate how local private benefits capitalized in property values change with changes in the configuration of a park.     

Endogenous International Technology Spillovers and Biased Technical Change in Agriculture

This paper analyzes trade-related knowledge flows from an innovating country to other countries. It is assumed that knowledge is embodied in commodities traded between countries and that the potential productivity of this knowledge is determined by the local usability of foreign technologies. The usability of foreign knowledge is dependent on the local absorption capacity (such as knowledge infrastructure and human capital) and on structural differences (factor endowments or climate) between countries. In agriculture, a large portion of the knowledge is embodied in inputs which cause factor-biased technical change in the receiving sectors. Trade-related knowledge transmission is introduced in an applied multi-region general equilibrium model (GTAP) to study the macro-economic and sectoral impacts of knowledge spillovers and of trade policies. Endogenous embodied technology spillovers bear some important implications for trade policy, because protective measures preclude countries not only from cheaper imports but also from foreign technologies.