The ‘Whys’ and ‘Hows’ of ethical investment: Understanding an early-stage market through an explorative approach

Over the last decade, markets for investments have changed in Europe. Consumers have become more aware of ethical standards and violations of social values and norms. While in some countries, such as the United States, this change took place decades ago, the market for ethical investment in Europe is still at an early stage. The present study investigates the underlying motives for ethical assets of consumers in early-stage markets. Using seven interviews with financial experts and five focus groups with ethical and conventional investors, we examine how investors view ethical investment, how ethical investors are described in terms of socio-demographics and personality characteristics, and which attitudinal factors are related to ethical investment behaviour. Interviews and focus groups are recorded and qualitatively analysed according to grounded theory. Ethical investment is found to be characterised through negative and positive ethical criteria. Our findings demonstrate how essential it is for ethical investors to lead a certain lifestyle driven by particular ecological and social values. Attitude theory serves to explain ethical investment behaviour. Conclusions for the marketing of ethical investment funds and for future research are drawn.     

Water pricing policies,public decision making and farmers' response: implications for water policy

The problems caused by water scarcity demand important changes in the criteria and objectives of water policies. The agricultural sector in Spain consumes up to 80% of all available hydric resources and the need to increase the efficiency of current uses of water in the agricultural sector is at the core of the country's national water policy. One alternative would be to resort to water pricing policies with the aim of providing incentives to save water consumption although it would inflict a certain degree of income losses to the farmers and raise the revenue collected by the water authorities. The objective of this research is to analyze the effect caused by the application of different water pricing policies on water demand, farmers' income and the revenue collected by the government agency. To undertake this analysis a dynamic mathematical programming model has been built that simulates farmers' behavior and their response to different water pricing scenarios. Empirical application of the model has been carried out in several irrigation districts in Spain covering varied farm regions and river basins. Results show that the effects of alternative pricing policies for irrigation water are strongly dependent on regional, structural and institutional conditions and that changing policies produce distinct consequences within the same region and water district. Thus, equivalent water charges would create widespread effects on water savings, farm income and collected government revenue across regions and districts.     

Immigrants’ Wage Performance in a Routine Biased Technological Change Era: France 1994–2012

Over the period 1994–2012, immigrants’ wage growth in France outperformed that of natives. We investigate to what extent changes in task‐specific returns to skills contributed to this wage dynamics differential through two channels: changes in the valuation of skills (price effect) and occupational sorting (quantity effect). We find that the wage growth premium of immigrants is mainly explained by the progressive reallocation of immigrants toward tasks whose returns increase over time. Immigrants seem to have taken advantage of labor demand restructuring driven by globalization and technological changes.     

How (Not) to Foster Innovations in Public Infrastructure Projects*

The government wants an infrastructure‐based public service to be provided. First, the infrastructure has to be built; subsequently, it has to be operated. Should the government bundle the building and operating tasks in a public–private partnership? Or should it choose traditional procurement (i.e., delegate the tasks to different firms)? Each task entails unobservable investments to come up with innovations. It turns out that, depending on the nature of the innovations, bundling can either stimulate or discourage investments. Moreover, we find that if renegotiation cannot be prevented, public–private partnerships might lead the government to deliberately opt for technologically inferior projects.     

A Cautionary Tale About Control Variables in IV Estimation

Many instrumental variable (IV) regressions include control variables to justify (conditional) independence of the instrument and the potential outcomes. The plausibility of conditional IV independence crucially depends on the timing when the control variables are determined. This paper works through different IV models and discusses the (conditions for the) satisfaction of conditional IV independence depending on whether the control variables are measured prior to or after instrument assignment. To illustrate the identification issues, we consider the Vietnam War draft risk as instrument either for veteran status or education to evaluate the effects of these variables on labour market and health outcomes. Our empirical analysis based on the ‘Young Men in High School and Beyond’ survey suggests that commonly used conditional IV strategies to estimate the impact of draft induced military service or education may be severely biased due to the use of improper controls.     

Linking people management and extra‐role behaviour: results of a longitudinal study

This article examines the validity of the assumption that employees' perceptions of those people management activities of their supervisor that impact on employees' abilities, motivation and opportunities to perform influence employee extra‐role behaviour. The results of a longitudinal survey with data from 3,368 employees provide support for this assumption. This study's distinctive features – the concept of people management that involves the management of HR implementation, the longitudinal research design, and the use of the AMO framework for specifying the linkages between HRM and performance – make it possible to address the core questions in the HRM‐performance debate that still remain unanswered according to Guest.     

Ecotourism development in Ghana: A postcolonial analysis

Despite growing research on ecotourism in Ghana, it is unclear to what extent colonial approaches to forestry and wildlife conservation still influence ecotourism in the country. This paper examines ecotourism development in Ghana from a postcolonialist perspective. It is based on a thematic assessment of primary data from in-depth interviews with a range of ecotourism actors. The paper shows that ecotourism in Ghana, much like colonial forestry and wildlife conservation, faces challenges such as the marginalisation of the local community, the use of neo-crisis narratives, a dependence on international forces, and the marginalisation of local ecological knowledge. It argues for a holistic approach to the development of ecotourism as a win–win strategy for sustainable development.     

Endorsing Sustainable Food Consumption: Prospects from Public Catering

The aim of this article was to analyse an attempt to promote sustainable consumption by shaping the conditions for consumption. In particular, the focus lies on sustainable public catering as an approach to shaping both the supply of and demand for sustainable meals. In order to capture the processes of governing consumption, the way is traced in which rationalities (ways of thinking and calculating), technologies (means and instruments), visibilities (concrete manifestations), and identities (types of agents assumed) related to a policy intervention for sustainable public catering are interpreted and recreated by three main groups of actors involved: policy makers, catering professionals, and consumers. This analysis highlights the active role of practitioners in realizing policies for sustainable consumption. It has implications for policy makers and analysts: Reflexive policies should heed to actors’ unfolding interpretations as they can take the policy process in different directions.