SRPN: Sustainable Capitalism (Topic)最新文献

{"title":"The Modern Corporation Statement on Economics","authors":"William Lazonick, S. Blankenburg, J. Froud, Mary O’Sullivan, C. Sauviat, A. Rebérioux, Ha-Joon Chang, M. Mazzucato, Grahame F. Thompson, S. Keen, P. Quattrone, C. May, Neil M. Lancastle, Barbara Czarniawska, D. Knights, L. Horn, I. Talmud, Oleg Komlik, H. Schwardt, K. Robson, T. Hines, R. Wright, M. Houston, Mehmet Ali Dikerdem, Maureen Boland, M. Djelic, Brendan O'rourke, N. Kaul, J. Holmwood, Timothy Kuhn, P. Ainley, Dawa Sherpa, P. Welch, K. Reader, Jan Čulík, K. McSorley, N. Edmond, S. Fleetwood, Andrew M. Fischer, G. Delalieux, Helena Syna Desivilya, D. Leech, M. Loughlin, W. Maley, D. Wield, M. Nissanke, Roger Brown, M. Addis, Stuart Farquhar, D. Cooper, Chris Carter, M. Sabaratnam, M. Aluchna, R. Gill, A. Bryer, P. Beusch, N. Harfoush, H. Vrolijk, B. Cooke, M. Pirson, D. Jacobs, A. Contu, Nihel Chabrak, P. Ireland, J. Matthaei, Vincenzo Bavoso, Tanweer Ali, Lorenzo Massa, David Gindis, M. Smith, J. Chanteau, Robert F Coles, M. Palazzi, Roger Martin, H. Willmott, J. Veldman","doi":"10.2139/SSRN.2864246","DOIUrl":"https://doi.org/10.2139/SSRN.2864246","url":null,"abstract":"From the early decades of the twentieth century, a dominant characteristic of the modern \"capitalist\" corporation, especially in the United States, was the separation of asset ownership in the form of publicly traded shares from allocative control over the corporation's resources by salaried managers. By the 1950s some depicted managerial-controlled large enterprise as the \"soulful\" corporation in which the allocation of resources resulted in enhanced social welfare. In the 1960s, however, some conservative academics looked to market forces, dubbed the \"market for corporate control\", to ensure that managers as employees would give primacy to shareholders in the allocation of corporate resources. This market for corporate control could enable hostile takeovers in which shareholders who accumulated large public equity stakes in a company could discipline managers to allocate resources in ways that \"the market\" deemed to be efficient. The notion that market allocation could control managerial organization was then developed theoretically based on the conceptualisation that the corporation (and indeed any firm) could be conceptualised as a \"nexus of contracts\" or a \"collection of assets\". Rather than view the corporation as a social organization with its unique history and competitive capabilities in which public shareholders had come to play a peripheral role, neoclassical economists conceptualised the corporation as a set of voluntary contracts among owners of resources and as a portfolio of assets with different market-determined rates of returns. This conceptualisation of the corporation to fit with the dominant neoclassical theory of the market economy had implications. We provide this Summary of certain fundamentals of economics in an effort to help prevent analytical errors which can have severe and damaging effects on corporations.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115740543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Arazi kullanımı planlaması yönünden Karpaz Yarımadası’nın turizm alanları (An Assesment of in Terms of Land Use Planning in the Karpaz Peninsula Tourism Areas)","authors":"Kerime Karabacak, Ali Özçağlar","doi":"10.2139/ssrn.3393081","DOIUrl":"https://doi.org/10.2139/ssrn.3393081","url":null,"abstract":"<b>Turkish Abstract:</b> Kıbrıs Adası’nda ana kütleden kuzeydoğuya doğru bir işaret parmağı gibi uzanan Karpaz Yarımadası Kuzey Kıbrıs Türk Cumhuriyeti’nde yer almaktadır. Yarımada, Mesarya Ovası’nın kuzeydoğu kenarından başlayarak doğu ve kuzeydoğuya doğru genel olarak daralarak uzanan ve Zafer Burnu’nda sonlanan alandır. Yarımada’nın sınırları çizilirken doğal sınırların yanında idari sınırlara da dikkat edilmiş, bu doğrultuda alanın batı sınırı ile İskele ilçesinin sınırları örtüştürülmüştür. Yaklaşık 817km² yüzölçümüne sahip olan yarımada Kuzey Kıbrıs’ın önemli tarım ve turizm potansiyeline sahip yerlerinden biridir. Çeşitli turizm faaliyetleri açısından uygun doğal ve kültürel özelliklere sahip olan Yarımada’da, özellikle son dönemlerde artan agro ve eko turizm faaliyetleri ilçe insanı için önemli bir geçim kaynağı durumuna gelmiştir. Ne var ki son yıllarda arazinin bilinçsiz ve aşırı kullanımı, gereken önlemler alınmazsa çalışma alanında geri dönüşü olmayan sorunlara yol açabilir. Bu nedenle bu çalışmada Karpaz Yarımadası’nın mevcut turizm yapısı ve turizm faaliyetleri ortaya çıkarılmış olup turizm potansiyeli ile coğrafi özellikler ilişkilendirilmiş ve sahadaki turizm alanları ile turizm faaliyetlerinin planlanmasına yönelik SWOT analiz yapılmıştır.<br><br><b>English Abstract:</b> To the Northeast of Cyprus Island lies the Karpas Peninsula along the borders of the Turkish Republic of Northern Cyprus, in the shape of index finger. The peninsula narrows to eastward to the northeast from the Mesarya Plain and ends at Zafer Cape. Official boundaries were taken into account as well as natural borders during the mapping process of the peninsula and within this framework; western borders and district boundaries of Iskele were overlapped. The Karpaz peninsula has approximately 817km² surface area and is one of the places which have an important agriculture and tourism potential in Northern Cyprus. The peninsula has apt natural and cultural characteristics for various tourism activities. Particularly the recently increasing agro-eco tourism activities have become a significant source of income for the local people. However, unconscious and extreme land use observed in recent years might lead to irreversible problems on the research site if necessary precautions are not taken. For this reason, the study revealed the current tourism structure of the Karpas peninsula and its tourism potential associated with the geographic features and employed SWOT analysis for tourism area and tourism activities planning in the peninsula.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115972022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of Tourism Destination Strategy on Its Competitiveness","authors":"D. Demirović, R. Pejanović, O. Sedlak, K. Košić","doi":"10.2139/ssrn.3282314","DOIUrl":"https://doi.org/10.2139/ssrn.3282314","url":null,"abstract":"The aim of this paper is to explore how destination strategy – marketing, employees, policy of planning and destination development, management of service quality and management of environmental protection - affects competitiveness of rural tourism destinations in Vojvodina (Serbia) and Hungary. Tourism experts in Vojvodina (136) and Hungary (138) were asked to evaluate the current condition of all 24 attributes which affect the competitiveness of rural tourism destinations. Likert scale of five marks was used in order to determine the effect of the strategies on the competitiveness of Vojvodina/Hungary as a rural tourism destination. Authors concluded that a large number of tourist resources and attractions are irreplaceable, and the purpose of formulating and implementing strategies must be to ensure that the use of resource ensure their long-term sustainability. Such a development strategies are processes or activities that correspond to the tourist attractions and resources of destinations, and on the other hand, are aligned with the external environment. Destination competitiveness can be increased by using a strategy of constant innovation and continuous change. In order to be competitive, destination should offer flexible, segmented and customized products. The main methods of developing flexibility for the competitiveness of tourist destinations rely on the organization, management, marketing, distribution and other forms of interactions and relationships between tourism suppliers.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121462663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Carbon Disclosure, Emission Levels, and the Cost of Debt","authors":"S. Kleimeier, Michael Viehs","doi":"10.2139/ssrn.2719665","DOIUrl":"https://doi.org/10.2139/ssrn.2719665","url":null,"abstract":"In this paper, we investigate the effect of voluntary carbon emissions disclosure on the cost of debt of publicly listed firms. Using a unique and comprehensive database on carbon emissions from CDP (formerly ‘The Carbon Disclosure Project’), we study whether firms which choose to voluntarily disclose their carbon emissions enjoy more favorable lending conditions - in the form of lower spreads on their bank loans - than their non-disclosing counterparts. Our empirical results reveal a significant and negative relation between voluntarily disclosing carbon emission levels and the cost of bank loans for informationally opaque borrowers. Furthermore, we find that higher industry- and firm-size-adjusted carbon emissions have a positive and significant effect on loan spreads. These effects are common to all loans and not limited to loans which have been arranged by norms-constrained lenders suggesting that spread premia are driven by environmental risks rather than investor preferences.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"76 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114563348","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Nature and Evolution of Capitalism in Bulgaria: 2020 Agenda","authors":"V. Terziev, E. Arabska","doi":"10.2139/ssrn.2889707","DOIUrl":"https://doi.org/10.2139/ssrn.2889707","url":null,"abstract":"The consideration of contemporary understanding of capitalism is a huge challenge marked by the peculiarities of development of nations and regions in last centuries of tremendous changes and turning points in historical and socio-economic development. Discussing the role of state and civil society in economic, social and political spheres is one of the “hottest” topics in modern economic theory and its implications in business practice. The issue of the understanding of capitalism in academic communities is characterized by a complex nature and a number of subjective influences, especially in some countries as Bulgaria undergone processes of transformations and transitions far away of the necessary substantiation. Although the impact from the imposed perceptions during socialism is obvious, recent development trends show specific changes in the attitudes in society, economy, state policy and academic community.Bulgaria has an open market economy strongly influenced by the macroframework of the EU membership. The impact of historical development and policy on economic and cultural development has a very specific nature in the country which is still looking for the “right” decisions for future. Along with the undisputable advantages, the processes of globalization in modern world posed challenges and problems requiring the search of new approaches and instruments in management. Entering a new era of information and communication technology “mass invasion”, the forces driving economic development are changing. The behavior of citizens and consumers is the “invisible hand” regulating contemporary development. Outlining its significance, current study’s goal is not to go in detail about it but to provide the key implications on the nature and the evolution of capitalism discussing new emerging forms in the context of sustainable development goals deserving further attention.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126257641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does Profit Maximization Impact Sustainability? - An Examination","authors":"J. Nugent, G. Werema","doi":"10.2139/SSRN.2637407","DOIUrl":"https://doi.org/10.2139/SSRN.2637407","url":null,"abstract":"This paper examines the relationship between profit maximization and sustainability within the framework of the life cycle phenomenon for a corporation. It appears a pattern becomes the norm regarding business entities as well as other organizational forms regarding sustainability.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"241 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132356029","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Institutional Shareholder Engagement with Japanese Firms","authors":"G. Clark, Sarah M. McGill, Yukie Saito, Michael Viehs","doi":"10.2139/ssrn.2619616","DOIUrl":"https://doi.org/10.2139/ssrn.2619616","url":null,"abstract":"This paper explores how shareholder engagement on environmental, social and governance (ESG) issues is informally exercised by a large global institutional investor with locally embedded, geographically remote firms. By studying a UK asset manager’s shareholder engagement strategies on ESG issues toward Japanese firms, we document three findings. First, it is found that main target firms of engagement activities are large firms with global operations, and that corporate governance issues are the most important engagement topic in Japan. Second, in trying to effectively exercise voice across societies, engagement activities are conducted with geographically remote target firms on various ESG agendas through a self-enforcing, face-to-face, and sometimes collective manner. Finally, this study argues the gap between the asset manager’s motivation to engage and local target firms’ readiness to respond due to corporate organisational and language issues.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115125625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"La Planificación Turística Desde El Enfoque De La Competitividad: Caso Colombia (Tourism Planning from the Approach to Competitiveness: Colombia Case Study)","authors":"Gustavo Toro, M. Galán, L. Pico, E. Rozo, Hayda Suescún","doi":"10.18601/01207555.N16.09","DOIUrl":"https://doi.org/10.18601/01207555.N16.09","url":null,"abstract":"Spanish Abstract: Este documento de investigacion tiene el objetivo de mostrar, de una manera global, los principales resultados que derivan de la formulacion de once planes de desarrollo turistico2 realizados en Colombia en 2012. Asi las cosas, se pretende que el lector tenga una vision panoramica de la planificacion turistica en Colombia. El articulo describe el enfoque metodologico del proceso adelantado, el cual se fundamenta en algunos de los factores planteados por los teoricos canadienses Crouch y Ritchie, a saber: atraccion, soporte, produccion y gestion de destino. Posteriormente se muestran las tendencias generales, derivadas del analisis de dichos factores, que expresan la realidad turistica del pais, y a partir de las cuales se establecen los resultados, conclusiones y acciones por seguir.English Abstract: This research paper has the objective to show in a comprehensive way, the results that were thrown by the eleven tourism development plans made in Colombia, in 2012. In fact, it is intended to give an overview of tourism planning in the country. Originally, the article presents the methodological approach of the process, which is based on the four competitiveness factors formulated by Canadian academics Crouch and Ritchie: attraction, support, production and destination management. Subsequently, the authors show the general trends (national trends) in the four factors analyzed, to have a view of the whole situation: weaknesses, opportunities, strengths and threats and thus, draw the results and the conclusions under the advanced process.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122321272","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Critique of SRISK as an Alternative to Regulatory Leverage Ratio","authors":"Dov Fischer","doi":"10.2139/ssrn.2614870","DOIUrl":"https://doi.org/10.2139/ssrn.2614870","url":null,"abstract":"In the wake of the 2008 financial crisis, Robert Engle and colleagues at New York University developed the NYU Stern Systematic Risk Model (SRISK), a market-based substitute for regulatory measures of systemic risk of financial institutions. This study identifies four shortcomings of SRISK. First, market value is not an adequate substitute for book value in measuring systemic risk. Second, SRISK fails to account for credit derivatives and other off-balance sheet risk. Third, the market data captured by SRISK itself relies on regulatory disclosures. Fourth, SRISK cannot be applied to private firms.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126968987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Political Risk and Expected Government Bond Returns","authors":"Johan Duyvesteyn, M. Martens, P. Verwijmeren","doi":"10.2139/ssrn.2471096","DOIUrl":"https://doi.org/10.2139/ssrn.2471096","url":null,"abstract":"Political risk relates to both the ability and the willingness of governments to repay debts. We find that bond prices only slowly adapt to changes in political risk. The expected bond returns for countries whose political risk ratings have improved are higher than those for countries whose political risk ratings have deteriorated. This change in political risk premium cannot be explained by the risk factors default premium, term premium, and liquidity, or by momentum, changes in credit ratings, economic risk or financial risk. The risk-adjusted performance is 7.6% per annum for emerging bond markets and 0.8% per annum for euro government bonds.","PeriodicalId":315186,"journal":{"name":"SRPN: Sustainable Capitalism (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128893692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}