Circular economy in Latin America: A systematic literature review

The purpose of this study is to identify circular economy concept trends of Latin America with regards to Europe, in which a systematic review of literature (SRL) was made using Scopus data in order to define the search, to select the relevant articles, and to analyze the results. Seventy‐one articles from Scopus were reviewed, and the analysis was complemented by the analysis with 57 documents from other scientific Web browsers such as Mendeley, Scopus, Academic Google, ScienceDirect, and SciELo which sum a total of 128 documents which the majority have come from Europe. Main concepts were identified, barriers and trends. The main conclusion was which the current concept is not very clear; in spite of Europe knows that limitation, Latin America is making the same mistake implementation.     

The current global financial crisis: Do Asian stock markets show contagion or interdependence effects?

In the framework of the current global economic crisis, a pertinent question is whether the world economies are suffering from contagion or interdependence effects. With its origins in the US sub-prime mortgage market crisis starting at the end of 2007, when a loss of confidence by investors in the value of securitized mortgages resulted in a liquidity crisis, hard-hitting the banking system and rapidly spreading into the financial markets, the effects of the crisis were automatically reflected in the rest of the world economies. These effects become more severe as the rest of the world is facing economic and financial instability. Therefore, the American shock can be seen as the trigger that revealed the other economies’ own financial problems. The main finding of this paper shows that the US stock markets are not generating contagious effects into the Asian stock markets. However, strong evidence of volatility transmission derived from these economies’ interlinkages has been detected.     

The construction of the risky individual and vigilant organization: A genealogy of the fraud triangle

This article examines how a vision of organizational fraud has been constructed around a particular technology, the fraud triangle, which was initially developed in the aftermath of the creation of the fraud examination discipline. We examine the genealogy of the fraud triangle and follow various chains of translations underlying its construction. One of the main translation trajectories we uncover presents individuals as vectors of moral riskiness needing to be vigilantly monitored and controlled by the organization. The organization is conceived of as a prime site in which fraud is to be addressed – not annihilated but significantly reduced as long as sufficient care is devoted to establishing layers of vigilance. As such, the fraud triangle redefines social, political and economic relations through a web of translations that both celebrate and normalize the use of organizational surveillance systems to control risk ensuing from the individual’s (alleged) frail morality. In the process, other visions of fraud, focused on the broader role of society, political agendas and powerful economic institutions in engendering and preventing fraud, escape from view.     

Shared wealth or nobody's land? The worth of natural capital and ecosystem services

The prerequisite for a sustainable and equitable use of common resources (the so-called Commons) must be the proper evaluation of their role within the complex network of relationships that ensure ecosystems functioning, resilience, and evolutionary dynamics. It is crucial to ascertain to what extent the common wealth is used for the common benefit. Money-based schemes for valuing the Commons, such as the so-called “willingness-to-pay”, provide a user-side evaluation perspective based on the idea that value only stems from utilization by humans. As a complement to such a point of view, we present and discuss in this paper a donor-side evaluation method (Emergy Synthesis) based on the idea that a proper measure of value can be achieved by also accounting for the work done by the biosphere in generating services and resources. It should not be disregarded that such resources and services also provide support to other species in the web of life. Emergy, a scientific measure of such environmental support, is suggested as a tool capable to assess quantity and quality of shared resources, thus providing a basis for their environmentally sound management.     

Real exchange rate volatility,financial crises and exchange rate regimes

This article examines real exchange rate (RER) volatility in 80 countries around the world, during the period 1970 to 2011. Two main questions are raised: are structural breaks in RER volatility related to changes in exchange rate regimes or financial crises? And do these two events affect the permanent and transitory components of RER volatility? To answer these, we employ two complementary procedures that consist in detecting structural breaks in the RER series and decomposing volatility into its permanent and transitory components. Our results suggest that structural breaks in RER volatility coincidence with financial crises and certain changes in nominal exchange rate regimes. Moreover, our findings confirm that RER volatility does increase with the global financial crises and detect that the more flexible the exchange rate regime, the higher the volatility of the RER using a de facto exchange rate classification.     

Global intermodal tank container management for the chemical industry

The scale of the global chemical industry is enormous: in 2003, the total value of global production exceeded US$1.7 trillion. International logistics is especially crucial to the high-value chemicals industry, since raw materials sources, production facilities, and consumer markets are distributed globally. Fluctuating demand, imbalanced trade flows, and expensive transportation equipment necessitate dynamic asset management. This paper focuses on asset management problems faced by tank container operators, and formulates an operational tank container management problem as a large-scale multi-commodity flow problem on a time-discretized network. By integrating container routing and repositioning decisions in a single model, total operating costs and fleet sizes can be reduced. A computational study verifies this hypothesis.     

Exchange Rate Regimes,Foreign Exchange Volatility,and Export Performance in Central and Eastern Europe: Just another Blur Project?

The authors attempt to analyze the direct impact of exchange rate volatility on the export performance of ten Central and Eastern European transition economies, as well as its indirect impact via changes in exchange rate regimes. Not only aggregate but also bilateral and sectoral export flows are studied. To this end, the authors first analyze shifts in exchange rate volatility linked to changes in the exchange rate regimes and, second, they use these changes to construct the dummy variables that they include in their export function. The results suggest that the size and the direction of the impact of forex volatility and of regime changes on exports vary considerably across sectors and countries and that they may be related to specific periods.     

Business Cycle Synchronization between Euro Area and Central and Eastern European Countries

We analyze the degree of co‐movements in real macroeconomic aggregates across selected euro area and Central and Eastern European (CEE) countries applying a multi‐factor model. Our results suggest that the evolution of the global European factor matches well the narrative of main economic events between 1995 and 2011, capturing among others the recession during the recent global financial and economic crisis. This factor plays a central role in explaining real output growth variability in euro area and is negligible in CEE countries. Furthermore, using Markov switching models and concordance indices, we shed light on an increase in business cycle synchronization, with the degree of concordance between country‐specific and European business cycles being high.     

Measuring Executive Education Service Quality: A Construct Validity Study in Latin America

ABSTRACT

This article reports on the development of a measurement tool to assess service quality in an executive education setting. For this purpose, two studies were performed at a Peruvian business school. In the first study, data were collected from 205 executive students to establish the dimensionality of the measurement instrument. The follow-up study, performed a year later with data gathered from 354 executive students, was devoted to examining the stability of the factor structure in addition to the reliability and construct validity of the scale's scores. Results provide strong support for the validity and reliability of the scores on the five EXEQ subscales. The findings also showed that students not only evaluate executive education service quality through five factors but that they also view overall executive education service quality as a higher-order construct that captures elements of all its constitutive dimensions.

RESUMEN. El propósito de este estudio es informar sobre el desarrollo de una herramienta de medición para evaluar la calidad del servicio, en un entorno educacional para ejecutivos. Para lograrlo, se realizaron dos estudios en una escuela de negocios (business schools) de Perú. En el primer estudio, se recopilaron datos provenientes de 205 estudiantes ejecutivos para establecer la dimensión del instrumento de medición. El estudio de seguimiento, a su vez, se realizó un año más tarde con los datos obtenidos de 354 estudiantes ejecutivos, que se utilizaron para examinar la estabilidad del factor estructura, y la confiabilidad y validación constructiva de la clasificación de escala. Los resultados obtenidos respaldaron fuertemente la validación y confiabilidad de la clasificación en cinco subescalas EXEQ. Los hallazgos también demostraron que los estudiantes no sólo evalúan la calidad de los servicios educacionales brindados a los ejecutivos con base en cinco factores, sino que ellos también analizan la calidad de este servicio educacional desde una perspectiva mucho más amplia, que captura los elementos que constituyen sus propias dimensiones y alcance.

RESUMO. Este estudo relata o desenvolvimento de uma ferramenta de medição para avaliar a qualidade do serviço num cenário de formação de executivos. Com esse objetivo, dois estudos foram realizados numa escola de negócios (business school) peruana. No primeiro estudo, dados foram coletados de 205 estudantes executivos para verificar a dimensionalidade do instrumento de medição. O estudo de follow-up, realizado um ano depois com dados coletados de 354 estudantes executivos, dedicou-se a examinar a estabilidade da estrutura de fator e a confiabilidade e validade de constructo dos escores da escala. Os resultados dão fortes sinais da validade e confiabilidade dos escores nas cinco subescalas EXEC. Constatou-se também que os estudantes não apenas avaliam a qualidade do serviço de formação de executivos mediante cinco fatores, mas também vêem a qualidade do serviço de formação de executivos como um constructo de ordem superior, que capta elementos de todas as suas dimensões constitutivas.     

PLAYING THE FERTILITY GAME AT WORK: AN EQUILIBRIUM MODEL OF PEER EFFECTS

We study workplace peer effects in fertility decisions using a game theory model of strategic interactions among coworkers that allows for multiple equilibria. Using register‐based data on fertile‐aged women working in medium‐sized establishments in Denmark, we uncover negative average peer effects. Allowing for heterogeneous effects by worker type, we find that positive effects dominate across worker types defined by age or education. Negative effects dominate within age groups and among low‐education types. Policy simulations show that these estimated effects make the distribution of where women work an important consideration, beyond simply if they work, in predicting population fertility.