Water-Based Recreational Benefits of Conservation Programs: The Case of Conservation Tillage on U.S. Cropland

Conservation programs are a significant part of farm legislation. The recent farm bill increases funding of conservation programs. One result will likely be the increased adoption of basic environmentally benign farming practices, such as conservation tillage. This would lead to improvements in surface water quality. In this paper, we examine the magnitude of the nonmarket use value benefits of these improvements. The findings indicate that moderate to widespread adoption of practices such as conservation tillage would result in significant nonmarket benefits.     

Determinants of Residential Land-Use Conversion and Sprawl at the Rural-Urban Fringe

We estimate a probit model of residential land conversion using parcel-level data from a rural-urban county in Ohio. Spatial landscape pattern metrics are used to quantify land-use patterns and to link patterns of residential sprawl with factors estimated to influence parcel-level land conversion. Findings indicate that the location of new residential development is influenced by preferences for lower density areas that nonetheless are close to existing urban development. Combined, these forces have generated a moderated pattern of residential sprawl. Spatial error autocorrelation is controlled using a spatial sampling technique that enables consistent estimation of the probit model.     

Estimating the export and import demand for manufactured goods: The role of FDI

In this paper we estimate the demand for exports and imports of manufactured goods for a panel containing the majority of the EU countries as well as the United States and Japan. The model includes as explanatory factors both the traditional determinants of trade and also the stock of foreign direct investment (FDI). We apply panel unit root and cointegration tests allowing for heterogeneity. Whereas there is no evidence of cointegration when using just the traditional formulation, the results are favorable to the existence of long-run relationships linking the variables of the augmented model. Moreover, the results point mainly to a complementary relationship between trade and FDI.     

Efficiency, subsidies, and environmental adaptation of animal farming under CAP

The purpose of this article is to model the interaction between the targets of the current Comman Agriculture Politic (CAP): environmental adaptation, subsidies, and efficiency of animal farming. To this end we first have to identify the production frontier and relative efficiency level for each animal‐oriented farm in the sample. The production frontier and efficiency index for each type of farm (assuming no specific production functions) are identified using Data Envelope Analysis (DEA) techniques. We then address the relationship between relative efficiency, farm size, and environmentally friendly behavior by carrying out a nonparametric regression of efficiency, on economic size, a proxy for the degree of environmental appropriateness, and regional dummies. Calculations of the efficiency of the farms including direct subsidies are compared with the counterfactual exercise in the case in which direct subsidies are not considered. Finally, we look for relations between subsidies and factors such as farm size, efficiency, and environmentally friendly behavior. One key result shows that, on average direct payments generally tend to increase efficiency. However, in most of the cases the mean efficiency decreases as the percentage of direct payments rises. Direct payments are found to be positively related to environmentally friendly production, at least in Germany. However, in general, the direct payment system is not sufficient to offset the fact that the less environmentally friendly farms as well as the larger farms are more efficient.     

An application of the two-stage Bivariate Probit–Tobit model to corporate financing decisions

Most of the previous studies on the firms’ debt-equity choice utilize the standard single equation Probit (or Logit) model as if firms face a single dichotomous decision to issue debt or equity, but not both. The main purpose of this study is to use a two stage Bivariate Probit–Tobit model to examine the factors affecting the choice between internal and external funding and between debt and equity as well as the size of issues. Our results indicate that the Bivariate-Probit estimation is more efficient than that of two independent Probit equations. An examination of factors that affect the choice of financing form and the size of issue support the predictions of trade-off theory. The pecking order’s prediction that, if external funding is needed, firms issue debt first and then equity finds no support in this study as firms with higher information asymmetry have propensity to issue equity rather than debt. While information asymmetry affects the choice between debt and equity, we find no evidence that it influences the size of issue.     

Ecosystem Service Value and Agricultural Conversion in the Amazon: Implications for Policy Intervention

We explore the welfare implications of agricultural expansion in the Brazilian Amazon by comparing spatially explicit estimates of soybean rents and the value of ecosystem services. Although these estimates are generated from different datasets, models, and estimation techniques, the values are comparable, such that the value of ecosystem services is greater than soybean rents for about 61% of the total area and 24% of the area where soybean rents are positive if protected areas are well enforced. Based on the balance between the benefits and costs of conversion, failure to value ecosystem services reduces total social welfare by 7.13 billion dollars annually relative to an optimum. Policy instruments that internalize the value of ecosystem services via protected lands, land conversion taxes, conservation subsidies, or excise taxes can avoid much of this loss. Regardless of intervention regime, policy makers should be cognizant of the diminishing net benefits of converting natural ecosystems to agriculture. Realizing the final 3.8% requires the conversion of an additional 15% natural ecosystems to soybean production.     

Social enterprises and social markets: models and new trends

Strengthening of the “disinterested” is key in the current economic situation (Bourdieu 1986). It can provide new values and ways of managing the markets and enterprise organizations; social enterprises are emerging as instruments to make this possible. This work studies the different traditions and analyzes social enterprises and social entrepreneurs, with particular attention to Spain. It also examines trends deriving from the new emerging models, first making an approximation of social markets: a market experience based on building a production, distribution, financing, and responsible consumption network that overcomes the limits of individual companies, engaging all the market’s economic agents. Finally, the risks and opportunities that these models present for a supportive and Social Economy are analyzed.     

Validity and Reliability of Satisfaction as a Mediator between Quality Constructs in Manufacturer–Supplier Relationships Through Time and Across Contexts

Purpose: The main objective is to test and assess a research model through time and across contexts in which satisfaction is a mediator between quality constructs in manufacturer–supplier relationships. Satisfaction is positioned as a mediator between trust and commitment (i.e., causes) on the one hand, and cooperation, coordination and continuity expectancy (i.e., outcomes) on the other. The objective is also to provide a substantiation and contribution through time and across contexts, to business theory of supplier-manufacturer relationships

Methodology/approach: One out of eight samples selected for additional empirical substantiation for this study comprises a total of 600 small and medium-sized Spanish enterprises from various industrial sectors. A total of 259 usable questionnaires were returned, generating a response rate of 43.2%. The study is positioned (and compared) in relation to seven other samples that have been tested within the same research model in Canada, Finland, Norway (twice), South Africa, Sweden, and Taiwan. The total number of useable questionnaires is 1641, the average number of useable questionnaires per study is 205 and the average response rate is 37.4% in the studies assessed of this article.

Findings: The research model tested and assessed in the eight studies meets the requirements for satisfactory convergent, discriminant and nomological validity, as well as for construct reliability. The measurement and structural metrics support validity and reliability over time and across contexts, which is rare in marketing research.

Research implications: The theoretical framework contributes, through time and across contexts, to the business theory of supplier–manufacturer relationships. The tested research model demonstrates properties of validity and reliability across countries and company sizes. Implications and suggestions for further research are provided.

Practical implications: The empirical findings indicate key factors that contribute to satisfaction in manufacturer–supplier relationships in different countries and companies.

Originality/value: The article makes a contribution to theory relating to supplier–manufacturer relationships, providing evidence that the tested, hypothesized relationships are generally applicable. The validation or falsification of empirical findings in previous research is crucial in building valid and reliable theory over time and across contexts. Otherwise, theory becomes fragmented and undermines the credibility of marketing research.