The role of collaborations in the development and implementation of sustainable livestock concepts in The Netherlands

This paper discusses the role of collaborations in the development and implementation of sustainable livestock farming. The study reflects upon the experiences with two innovative pig farming concepts in the Netherlands that aim to address sustainability-related concerns regarding the economic viability, environmental impact and social responsibility of livestock production. The findings show that collaborations can result in smarter and innovative solutions and provide support in the development of more sustainable farming concepts. The study also shows that collaborations do not safeguard the implementing of these concepts in practice. Pioneers are confronted with higher production costs and the complex context of agricultural policies and regulations. These pioneering efforts are, however, the seeds for change, and the key ingredient for a transition towards more sustainable production. We rely upon their innovations, social networks and learning experiences in the transition towards more sustainable production. Therefore, pioneers need to be protected from market influences and regulatory barriers, and supported by intermediaries when developing novelties for a more sustainable agriculture. The findings emphasize the need for more knowledge exchange and understanding between farmers, policy-makers and researchers to navigate towards a more sustainable agriculture in the future.     

Determinants of Traditional Sustainability Reporting Versus Integrated Reporting. An Institutionalist Approach

The aim of this study is to analyze similarities and differences between companies with traditional sustainability reporting (TSR) and those that publish integrated reports. Based on institutional theory we identify potential determinants of integrated reporting (IR) and test their relevance empirically in a sample of 309 companies. Our analysis shows that IR companies are different from TSR companies with regard to several country‐level determinants. In particular, investor and employment protection laws, the intensity of market coordination and ownership concentration, the level of economic, environmental and social development, the degree of national corporate responsibility and the value system of the country of origin proved to be relevant. Based on these results, both implications for practice and future studies are derived. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment.     

Short-run maquiladora employment dynamics

The Ciudad Juárez maquiladora sector has grown enormously during the last three decades. To examine whether the trends underlying this remarkable performance are quantifiable, this paper analyzes the short-term time series characteristics of this portion of the metropolitan economy. The econometric methodologies employed include both univariate and transfer functions, with the latter using autoregressive integrated moving average analysis augmented by causality testing. Data are drawn for the sample period of January 1981 to December 1998. Empirical results indicate that inflation-adjusted wage rates, factories in operation, U.S. industrial performance, and the international value of the peso play important roles in determining month-to-month fluctuations in borderplex maquiladora payrolls.Financial support for this research was provided by El Paso Electric, the Fulbright Council for International Exchange of Scholars, and the Public Policy Research Center at the University of Texas at El Paso. Helpful comments were provided by Jeff Brannon, Jim Peach, and seminar participants at the University of Texas at El Paso, Universidad Autónoma de Ciudad Juárez, and New Mexico State University. Econometric research assistance was provided by Roberto Coronado and Roberto Tinajero.     

The Impact of SFAS No. 157 on Commercial Banks

During 2008, U. S. banks were mired in a credit crisis. According to a group of economists and bankers, one cause of the 2008 credit crisis was an accounting rule termed mark-to-market. This rule required banks to write down large portions of their investment portfolios. The purpose of this study is to examine the impact of the mark-to-market model on a sample of banks for the first three quarters of the year 2008. Results indicated that while banks grew by 20% over time, the percentage of assets measured at fair value rose only slightly. Additionally, the results indicated that applying the mark-to-market rule did not reduce the regulatory capital position of banks.     

Estimation of the greenhouse gas externality with uncertainty

The shadow price of carbon dioxide is the value of the external damage caused by an emission. A shadow price model for calculating the present value of the external damage of a carbon dioxide emission is derived explicitly. Sixteen experts provided subjective high, low and most likely parameter estimates because correct values for the eight model parameters are uncertain. The estimation procedure retains parameter uncertainty while generating the main result, which is a distribution of shadow price estimates. Major assumptions made in the estimation identify the basis for the results. Of the eight model parameters, the discount rate dominates the determination of the shadow price. For comparison, expert estimates of the shadow price itself provide a second distribution of shadow price estimates.     

The Economic Consequences of the Statement of Financial Accounting Standards (SFAS) No. 150

SFAS No. 150, “Accounting For Certain Financial Instruments with Characteristics of Both Liabilities and Equity” (SFAS 150), requires companies to report mandatorily redeemable preferred stock (MRPS) as a liability, and the dividends on these securities as interest expense. The purpose of this study is to examine the economic consequences of SFAS 150’s adoption on a sample of public companies. Our analysis indicates that adoption resulted in both intended and possible unintended economic consequences. Specifically: (1) the impact of SFAS 150 on non-public companies caused the FASB to review its position on the disclosures concerning MRPS; (2) some companies redeemed their MRPS prior to the adoption date of the standard; and (3) approximately 4% of sample firms were required to disclose MRPS as a liability.     

Why Collaborate in a Physical Internet Network?—Motives and Success Factors

The vision of the Physical Internet (PI) involves both sharing logistics resources and information exchange within an open network. The implementation of PI is seen as a promising contribution toward sustainable logistics. This paper investigates motives for and success factors in collaborating in a PI network. We apply an interpretive case‐based research approach involving four shippers and three logistics service providers (LSPs) that operate in a PI network. Motives are defined as the reasons that encourage an organization to enter the PI network. Success factors are conditions required for organizations to continue collaborating in a PI network. This is the first PI study conducted in a multi‐industry context. The findings demonstrate the central and neutral orchestration of resources (i.e., physical, digital/intangible, and relational resources) as a substantial and multi‐faceted issue in PI and continuous PI collaboration. A well‐accepted theory (Resource‐Based View) and its most recent extension (Resource Orchestration Theory—ROT) frame and guide our research. ROT informs the deployment of physical, digital/intangible, and relational resources by a neutral orchestrator in a PI network. The knowledge of motives and success factors allows the development of future user‐oriented PI services that are likely to be accepted by shippers and LSPs.     

HOW ASSET IRREVERSIBILITY INFLUENCES THE INVESTMENT‐UNCERTAINTY RELATIONSHIP

This paper examines how uncertainty affects firms' investments for varying degrees of asset irreversibility (i.e., the wedge between purchase price and liquidation value of an asset). To identify more or less irreversible capital goods, we exploit unique survey data on German manufacturing firms over the sample period 2004 to 2012 in which managers provide information on investments' purpose (capacity expansion, replacement, restructuring, rationalization, and other). Our results indicate that only investments into the most irreversible capital goods (capacity expansion) will decrease if uncertainty rises. We also find support for other channels, such as the financial friction or the market power channel, to explain the investment‐uncertainty relationship.