bluuebunny/crossref_metadata_2025_split huggingface dataset:
US environmental governance and local climate change mitigation policies
Authors: Heberle Lauren C. , Christensen Isabella M. 
Published: May 2011

PurposeThe purpose of this paper is to investigate local climate change mitigation planning in California with the goal of understanding how the relationships between the state, the local air agencies, and the localities within their jurisdictions shape the willingness and capacity of local communities to plan for climate change mitigation through greenhouse gas emissions reduction.Design/methodology/approachThe research: analyses documents relating to localities' climate change mitigation planning activities, including the production of action plans, general plan elements, emissions inventories, or official resolutions supporting mitigation planning, establishment of partnerships with other governmental and non‐governmental organizations, and development of community input processes and planning committee membership and structure. It also involves measurement and descriptive analysis of variables capturing: local air agencies' institutional character, orientation regarding climate change policymaking, and mitigation planning activities and programs; and localities' mitigation planning processes and policies, institutional and demographic characteristics, and relationships with other sub‐state entities working on climate change mitigation.FindingsIntergovernmental partnerships can powerfully impact localities' technical and financial capacities for pursuing climate change mitigation planning. This exploratory study points to the potential for strong leadership by air quality control agencies to greatly influence the decision of localities within their jurisdictions to engage in voluntary mitigation planning. Furthermore, decentralized collaboration does not prevent, and may encourage, policy harmonization through localities' widespread reliance on the technical assistance from specialized non‐governmental organizations.Practical implicationsFindings might enable advocates of local‐level climate change mitigation planning to target their resources for maximal returns in terms of geographic policy coverage and pledged GHG emissions reductions. Theoretically, this study contributes to discussions on the relationship between the quality of policy outputs and various forms of environmental governance.Originality/valueClimate change mitigation planning in the USA is in a formative stage. In fact, the authors found that even the California Governor's Office of Planning and Research (OPR) must work continuously and with imperfect data to compile a list of the state's local‐level mitigation planning efforts. This study contributes to the growing body of knowledge of local planning policy innovations in California and highlights the importance of leadership from the regional scale for city‐level engagement with mitigation planning.
The effects of institutional design in program performance
Authors: Tavares António F. , Mamede Luís 
Published: May 2011

PurposeThe aim of this paper is to investigate the effects on implementation and performance of different designs of public programs to promote sustainability goals.Design/methodology/approachThe study selects eight local sustainability programs in Portugal using two different program designs and compares several indicators of performance in terms of program implementation, outputs, and outcomes.FindingsCities using the top‐down approach to programmatic intervention are more successful in accomplishing sustainability goals than cities engaging in the bottom‐up approach. The second program design produced more visible physical outputs, whereas the first effectively achieved sustainability goals.Practical implicationsThe main policy implication of the study is that program design and structure are decisive to achieve sustainability goals. In the case of Programmatic contracts run by general‐purpose local governments, the incentive structure facilitates the appropriation of goals for electoral purposes by local officials. The Programmatic contracts are administered by local government officials who are primarily concerned with economic revitalization and delivering tangible infrastructure. The sustainability label should be removed from these initiatives.Originality/valueThe paper shows that the incentive structure created by program design features influences the achievement of sustainability goals by local communities.
Climate change action at the city level: tales from two megacities in Brazil
Authors: D'Almeida Martins Rafael , da Costa Ferreira Leila 
Published: May 2011

PurposeThe purpose of this paper is to analyze the factors shaping climate policies in two megacities in Brazil – São Paulo and Rio de Janeiro – through a multilevel perspective. The paper seeks to explore how climate change is being framed and how local governments are responding to it in terms of policy strategies.Design/methodology/approachThrough empirical research based on two case studies, the authors discuss the governing of climate change action and analyze the factors that can constrain or undermine these actions based on information collected from reports, institutional web sites and academic and newspaper articles.FindingsThe participation in transnational municipal networks has been central for promoting and supporting climate change actions in both cities following the international experience. The organization and implementation of climate change measures rely on a landscape formed by multiple actors often spanning several sectors and levels of governance.Originality/valueMost of the literature on climate change policy at the local level focuses on the context of developed countries. Analyses of advanced developing countries like Brazil are sparse as well as comparison in light of the international experience. The paper also draws attention for the lack of awareness for adaptation at the local level in these countries, building upon recent scientific findings on global climate change.
Corporate social responsibility and organizational effectiveness of insurance companies in Nigeria
Authors: Olowokudejo Folake , Aduloju S.A. , Oke S.A. 
Published: May 2011

PurposeThe purpose of this paper is to present a theoretical and empirical relationship between corporate social responsibility (CSR) and some dimensions of organizational effectiveness (OE) of insurance companies in Nigeria.Design/methodology/approachData were obtained from a field survey in insurance companies in Lagos using structured questionnaires. Responses from the survey were statistically analyzed using descriptive statistics and Pearson product moment correlation.FindingsResults of the study indicated that insurance companies are involved in all four forms of CSR activities (business ethics, urban affairs, consumer affairs and environmental affairs) with consumer affairs receiving the most active involvement. The study indicated that OE of the participating insurance companies is to a large extent satisfactory. However, involvement in CSR was found to correlate positively with OE.Research limitations/implicationsThe study also indicated that insurance companies still suffer from the lack of awareness, unavailability of information to identify the needs of a developing society, lack of qualified workforce and adverse economic factors that prevent them from performing CSR activities.Originality/valueFrom a practical perspective, the study is needed to assess if investments in CSR is worthwhile or not.
The demand for micro insurance in Ghana
Authors: Akotey Oscar Joseph , Osei Kofi A. , Gemegah Albert 
Published: May 2011

PurposeThe purpose of this paper is to identify the factors which influence the demand for micro‐insurance services among the informal sector workers of Ghana who are quite vulnerable to various risks in the economy.Design/methodology/approachThe study adopts a quantitative technique based on primary data sampled randomly from 100 informal sector workers from four major market centers in Accra, Ghana. The probit regression model was used for the empirical investigation.FindingsEmpirical investigation using the probit model indicates that premium flexibility, income level and nodal agency are significant determinants of micro‐insurance demand. Insurance knowledge, expectation (trust) and marital status were also found to have positive and significant impact on the demand for micro insurance. Interestingly, the empirical analysis shows that formal education is not a significant determinant; rather one's level of insurance knowledge has a positive and significant impact on micro‐insurance demand.Social implicationsInsurers must consider the nature of the cash‐flow of informal workers in the design of premiums. The government must integrate micro insurance into its poverty reduction program.Originality/valueThe micro‐insurance market is very new and unresearched in Ghana. This foundational study is, therefore, very original and a most valuable guide to commercial insurance companies which want to venture into this huge untapped opportunity in the Ghanaian informal sector.
Beta risk estimation of companies listed on the Ghana stock exchange
Authors: Newlove Asamoah Gordon , Quartey‐Papafio Anthony 
Published: May 2011

PurposeThe purpose of this paper is to estimate the Beta Risk Coefficient of 32 listed companies (shares), which are included in the Ghana Stock Exchange (GSE All Share Index).Design/methodology/approachThis research investigated some of the issues that can affect beta estimates (the measurement of returns, the choice of market index used, the length of estimation period, the sampling interval, the issue of normality, autocorrelation, the effect of thin trading, seasonality and stability) by using 32 listed companies. The methodology used was the Market model and some of the beta estimation techniques used included Scholes‐Williams' beta, Dimson's beta, and Fowler‐Rorke's beta.FindingsThe empirical results generally confirm the evidence by various researchers in the literature reviewed. However, the tests for the effect of thin trading and the effect of seasonality reject the null hypothesis (Ho: βMonday=βTuesday=βWednesday=βThursday=βFriday).Originality/valueThe study has about 95 per cent originality since the authors went into the field to gather all the data needed and did all the analysis.
The determinants of capital structure of Palestine‐listed companies
Authors: Abu Mouamer Faris M. 
Published: May 2011

PurposeThe purpose of this paper is to examine the relationship between capital structure and debt lifetime among listed companies in Palestine stock market.Design/methodology/approachThis study investigates firms that have been listed on the Palestine securities exchange (PSE) over a five‐year period (2000‐2004). In total, 28 companies were listed in PSE since 1999. Only 15 firms working in different economic sectors qualified to be included in the study sample according to the availability and continuity of published financial statements during the period of 2000‐2004. Variables used for the analysis include profitability, leverage ratios (total debt (TD), short‐term debt (STD) and long‐term debt (LTD)), liquidity (LQ), age, asset structure, and firm size and sales growth are also included as control variables. The panel character of the data allows for the use of panel data methodology. Panel data involves the pooling of observations on a cross‐section of units over several times.FindingsThe study has shown that the service companies have the highest TD ratio (53.69 percent), followed by industrial companies (50.86 percent), trade companies (34.11 percent) and agriculture companies (24.02 percent). The one way analysis of variance (ANOVA) shows no significant difference in the use of debt, neither total, LTD or STD among companies in the four sectors. Adding to that, ANOVA indicates insignificant differences among the companies in the sample with respect growth opportunities, size, age, tangibility (TAN), and LQ. The correlation analysis has shown that TD is positively and significantly related to TAN, on the country, no significant relationship between the long debt and STD on the one hand and age, growth, LQ, TAN, and size on the other hand.Originality/valueThis paper is the first that employs a new database containing the market and accounting data (from 2000 to 2004). This study will contribute in examining the relationship between capital structure and debt lifetime among listed companies in the Palestine stock market.
Electronic trading agreements
Authors: Alter Beth , Goodwyn Lauri 
Published: May 2011

PurposeThis paper aims to analyze various issues a hedge fund manager should consider prior to executing any electronic trading agreement with a prime broker.Design/methodology/approachThe paper discusses how hedge fund managers use electronic trading platforms and prime brokerage services; recommends considerations for hedge fund managers to keep in mind when negotiating electronic trading agreements, including scope of the license grant for the electronic trading platform, warranties, indemnification and limitation of liability, security, confidentiality, maintenance, customization and termination.FindingsPrior to signing any electronic trading agreement, a hedge fund manager should assess a fund's requirements and conduct due diligence to confirm that the applicable prime broker can meet such needs. Since many electronic trading agreements impose various obligations on a hedge fund manager, prevent him/her from conducting business as expected or required and significantly limit the prime broker's liability, counsel should review such contracts prior to execution.Practical implicationsHedge fund managers should analyze whether the applicable electronic trading services can meet their needs and also consult with counsel to understand the full legal implications of the electronic trading documentation.Originality/valueThis paper is intended to educate existing as well as new managers of hedge funds about the business and legal implications of electronic trading agreements. The authors are experienced attorneys who routinely negotiate electronic trading agreements with prime brokers.
Commodities tax compliance challenges: Dodd‐Frank and beyond
Authors: Lorence Roger D. 
Published: May 2011

PurposeThe purpose of this paper is to highlight the continuing diligence required of the tax compliance function of any investment vehicle that holds commodities contracts. In addition to monitoring Congressional developments that are likely to pick up where 2010's Dodd‐Frank Act left off, with the globalization of commodities trading, contracts traded on foreign exchanges are being added to the list of “Section 1256” contracts, which have special beneficial tax treatment under current law.Design/methodology/approachThis technical paper describes new technical rules applicable to the tax returns for taxpayers who trade in commodities contracts, as well as the need to be alert to future developments, whose likely parameters are provided.FindingsAfter a period of low levels of new developments, commodities taxation has come to the fore in Washington and an increasing tempo of developments is expected.Originality/valueThis paper provides timely guidance from an expert on tax issues relating to tax planning and tax return preparation from commodities traders.
PWG issues report on money market fund reform options
Authors: Bier Stephen H. , Bogle Thomas C. , Murphy Jack W. , Babikian Kevin K. , Murphy Sean R. 
Published: May 2011

PurposeThis paper seeks to explain the possible options detailed in the “Money Market Reform Options” report released by the President's Working Group on Financial Markets on October 21, 2010 for consideration by the Financial Stability Oversight Council (FSOC).Design/methodology/approachThe paper discusses reform options in the areas of: floating net asset values, privately sponsored emergency liquidity vehicles, mandatory redemptions in kind, insurance for money market funds (MMFs), a two‐tier system providing enhanced protections for stable net asset value (“NAV”) MMFs, a two‐tier system reserving stable NAV MMFs solely for institutional investors, regulating stable NAV MMFs as special purpose banks, and enhancing constraints on unregulated MMF substitutes.FindingsThe Report concludes that more should be done to address systemic risks presented by MMFs and the structural vulnerabilities of MMFs to runs, and discusses various reform options for the FSOC to consider, but does not recommend any particular reform.Originality/valueThe paper provides expert advice from experienced financial services lawyers.
SEC issues guidance to boards reviewing certain affiliated transactions
Authors: Ambler Diane E. , Greer Mark R. 
Published: May 2011

PurposeThis paper seeks to explain recently published guidance from the Securities and Exchange Commission clarifying the responsibilities of mutual fund directors when they make the determinations required by Rule 10f‐3 (permitting a fund to purchase securities from an affiliated syndicate), Rule 17a‐7 (permitting a fund to engage in certain cross‐trading) and Rule 17e‐1 (permitting a fund to use an affiliated broker).Design/methodology/approachThe paper explains guidance that was delivered in the form of a letter to the Independent Directors Council and the Mutual Fund Directors Forum.FindingsAmong other things, the Rules require that the board of a fund that relies on the Rules should undertake quarterly reviews and make certain determinations related to the potential conflicts of interest present. The guidance explains various ways in which a fund board may meet its responsibilities under the Rules, including review of each transaction, compliance officer summaries, and information from other experts. The guidance emphasizes fund boards' ultimate responsibility for making quarterly determinations required by the rules and the importance of meaningful dialogue in boards' evaluation of affiliated transactions.Originality/valueThe paper provides practical guidance from experienced securities lawyers.
SEC approves sweeping changes to FINRA's regulatory reporting rules
Authors: Weiss Harry J. , Lee Yoon‐Young , Newman Bruce H. , Eckert Paul R. , Hanselmann Claire R. 
Published: May 2011

PurposeThis paper seeks to explain Financial Industry Regulatory Authority (“FINRA”) Rule 4530, which requires members to report to FINRA certain internal and external findings of violative conduct and quarterly statistical and summary customer complaint information.Design/methodology/approachThe paper explains the background and provides an overview of FINRA Rule 4530; analyzes key provisions of the Rule, including the way it differs from legacy NASD and New York Stock Exchange Reporting Rules; and discusses next steps for FINRA members.FindingsFINRA Rule 4530 requires members to promptly report findings of internal and external violations and provides interpretive guidance regarding these requirements. The new Rule imposes obligations beyond those set forth in current NASD Rule 3070, requires reporting of internal findings, and alters the now familiar materiality standard applied to NYSE Rule 351(a).Practical implicationsThe new Rule will require members to enhance their policies and procedures to address the reporting of internal findings to define potentially reportable violations, identify decision‐makers to assess potential violations, create or modify reporting escalation procedures, and institute appropriate controls over reporting. Members may want to review their internal audit processes to reflect the new guidance regarding reporting based on internal findings of violations.Originality/valueThe paper provides practical guidance from expert securities lawyers.
Summary of selected FINRA Regulatory Notices October‐December 2010
Authors: Davis Henry A. 
Published: May 2011

PurposeThe purpose of this summary is to provide excerpts of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in October, November, and December 2010.Design/methodology/approachThe paper provides excerpts from FINRA Regulatory Notice 10‐45, Margin and Extension of Time Requests; 10‐51, Commodity Futures‐Linked Securities; 10‐57, Funding and Liquidity Risk Management Practices; and 10‐61, Independent Verification of Assets.FindingsRegulatory Notice 10‐45: FINRA Rule 4210 rule promulgates the margin requirements that determine the amount of collateral customers are expected to maintain in their margin accounts, including strategy‐based margin accounts and portfolio margin accounts; FINRA Rule 4220 sets forth the requirements for daily recordkeeping of initial and maintenance margin calls that are issued pursuant to Regulation T and the margin rules. Notice10‐51: Firms that offer commodity futures‐linked securities are reminded that they must ensure that communications with the public about these securities are fair and balanced, that recommendations to customers are suitable, and that their registered representatives adequately understand and are able to inform their customers about these securities before they recommend them. Notice 10‐57: FINRA expects broker‐dealers to develop and maintain robust funding and liquidity risk management practices to prepare for adverse circumstances. Notice 61: The SEC has approved and FINRA has adopted new FINRA Rule 4160 to strengthen its ability to independently verify assets maintained by a member at a non‐member financial institution.Originality/valueThese are direct excerpts designed to provide a useful digest for the reader and an indication of regulatory trends. The FINRA staff is aware of this summary but has neither reviewed nor edited it. For further detail as well as other useful information, the reader should visit www.finra.org
Core competencies of the new industrial organization
Authors: Simon Nobre Farley 
Published: May 2011

PurposeThe contributions proposed in this paper are motivated by principles of incompatibility, and non‐equilibrium states, existing between the continuous growth in the level of environmental complexity and the insufficient cognitive capacity of the organization. From such a view, the purpose of this paper is to ask: what are the core competencies of the new industrial organization in the twenty‐first century?Design/methodology/approachFirst, the paper examines the characteristics and limitations of past and current industrial organizations; second, it contributes by extending their frontiers and by proposing technological, managerial and organizational core competencies of the new enterprise.FindingsFrom such analyses, this paper introduces the features of customer‐centric systems (CCS) which represent new industrial organizations in the pursuit of high degrees of organizational cognition, intelligence and autonomy, and consequently, high degrees of agility and flexibility, in order to manage high levels of environmental complexity and uncertainty, to operate through intensive mass customization, and to provide customers with immersiveness.Research limitations/implicationsFor further research, this paper suggests the investigation of practical implementation of the features of the new enterprise of CCS. In such a direction, it recommends additional reading on the concept and design of computational organizational management networks.Practical implicationsThis paper emphasizes that CCS are firm types which strategically organize their resources and competencies around customers' values and needs, in order to involve customers into their business. By involving customers into their task environments and business, CCS‐based firms have the chance to understand their clients' real needs and to produce the appropriate goods and services.Originality/valueThe uniqueness of this paper lies in its attempt to master, analyze and integrate technological, managerial and organizational perspectives of past and current manufacturing organizations, which contribute to illuminate features and to identify core competencies of future industrial firms, which are in the pursuit of innovation and sustainable competitive advantage in the twenty‐first century.