Circular economy in corporate sustainability reporting: A review of organisational approaches

A growing commitment from companies to implement circular economy (CE) strategies demands the development of guidelines for consistent related external communication. The fields of non-financial reporting and sustainability are well established with numerous available international reporting frameworks and approaches; however, there is still an absence of standardised reporting principles and procedures for publishing progress on circularity. In this context, this article aims to explore how companies could include CE within their corporate sustainability reports, through an academic literature review and content analysis of existent reporting approaches. Results showed a clear disconnection between CE and sustainability reporting literature. Overall, only a few of the revised reporting approaches explicitly mention CE, and the guidance given to companies is very general, inconsistent and places the responsibility of selecting performance assessment approaches on the companies. The analysis contributes to identifying opportunities for transparent external communication of CE issues, as well as exploring the challenges and limitations.     

Pricing Discretion and Price Regulation in Competitive Industries

Price capped firms enjoy a large degree of pricing discretion, which may harm customers and competition. We study two alternative regulatory regimes to limit it: the first regime (Absolute) places a fixed upper limit to the prices charged in captive markets, while the other regime (Relative) constrains the captive prices relatively to the competitive ones. Under the Relative regime, captive prices are only weakly lower and competitive prices are always higher than under the Absolute regime. However, the number of competitors and/or their output may be higher under the Relative regime. While the effects on aggregate welfare are ambiguous, there is some evidence that the Relative regime is more likely to increase consumers’ surplus and social welfare the more efficient are the competitors.     

Making small firms happy? The heterogeneous effect of trade facilitation measures

The different facets of trade facilitation may impact heterogeneously exporters of different size and productivity. Using the cross‐sectional variation in procedures at the border, we identify how red tape affects trade through the extensive and/or the intensive margin and show that small and large exporters are affected differently. We observe that while information availability benefits both small and large exporters, other measures like advance ruling, appeal procedures and the automation of border formalities tend to favor large exporters. This result suggests that trade facilitation policies affect exporters through channels other than simply the fixed or variable cost component of the red tape barriers. Beyond affecting the size and composition of trade flows, uncertainty about the conditions of crossing borders plays an important role in shaping the demography of exporters across different destinations.     

Procedural invariance as a result of commitment costs: evidence from an economic experiment on farmers’ willingness to pay for digestate

We offer a conceptual explanation for some of the procedural invariance witnessed in experimental studies related to the concept of commitment costs, which is confirmed in a field experiment with Sicilian farmers valuing a renewable soil conditioner.     

Environmental compliance without sacrificing customer requirements

Reformulation of paraformaldehyde has reduced exposure while improving product properties. Solvent substitution and process modification in product lines have resulted in reduction of benzene emissions and more favorable product specifications.     

Pioneering in Ethics Teaching: The Case of Management Accounting in Universities in the British Usles

Relatively little is currently known about thecoverage of ethical issues in the accountingcurriculum. This paper reports on the resultsof a questionnaire survey of universityacademics in the British Isles which found thata significant minority of management accountinglecturers do claim to address ethical issues intheir teaching. In addition to reporting theextent of such provision, the paper exploresthe reasons for the coverage of ethics. Bothpersonal interest and a belief in theimportance of ethics are found to besignificant, and lecturers who do addressethical issues tend to express stronger beliefsin the responsibility and ability ofuniversities to improve the ethical attitudesand behaviour of their students. Some evidenceis found that personal interest is positivelyrelated to number of years of practicalexperience, which would appear to be a topicworthy of future research in accounting andbusiness ethics.     

Commentary on “Governance and resource interaction in networks: Venture capital's role in a biotech start-up”

This commentary discusses the main findings and contributions of the article by Strömsten and Waluszewski (this issue) on the interplay between venture capitalists and start-ups. The commentary stresses the importance of bringing together analytically the three worlds of VC governance, innovation processes and network interactions, which management theory tend to treat as separate phenomena.     

Consumer preferences for sustainable production methods in apple purchasing behaviour: a non‐hypothetical choice experiment

Increasing concern for potential risks on human health related to the overuse of chemicals in farming has promoted the research of alternative production methods. This paper contributes to the current literature by presenting a non‐hypothetical choice experiment study that investigates apple consumers' preferences for alternative production systems moving from a conventional to organic production, passing through an integrated pest management and an innovative technique that uses biocontrol agents. Other investigated attributes are appearance, origin and low greenhouse gas emission practices. The non‐hypothetical choice experiment was carried out in supermarkets by asking respondents to pay out of their own pocket for the chosen product. Most of interviewed people stated to have cut‐off values in mind when purchasing apples and their choices have been modelled according to the Swait soft cut‐off approach. Non‐compensatory model estimations confirm previous evidence that ignoring thresholds in data sets that contain them leads to significant errors in terms of willingness to pay. Results suggest that respondents, besides preferring organic production, seem to not perceive the potential benefits of other sustainable production methods.     

Aftermarket vehicle hybridization: Potential market penetration and environmental benefits of a hybrid-solar kit

The possibility of upgrading conventional vehicles to hybrid electric vehicles has recently gained considerable interest. Among the diverse options for hybridization, researchers of the Energy and Propulsion Laboratory at the University of Salerno (Italy) have patented a system based on the electrification of the rear wheels in front-wheel-drive vehicles by adopting in-wheel motors and adding a lithium-ion battery, which is rechargeable via plug-in and solar mode. The technology integrates various components, in-vehicle Intelligent Transportation Systems and advanced on-line management algorithms. With respect to the proposed technological context, this paper uses a real case study to investigate the potential market penetration, the achievable environmental benefits and relevant policy issues. To this aim, the paper first analyses the main behavioral determinants that may affect users' perception of this new technology, then specifies and calibrates an installation choice model, and finally develops bottom-up methodology to estimate the environmental benefits to be obtained from different commercialization scenarios. The proposed methodology was applied to the city of Salerno and the achievable benefits were compared to those obtainable through the implementation of traditional transport policies.