title: Local and Regional Indian Summer Monsoon Precipitation Dynamics During Termination II and the Last Interglacial

authors: Magiera, Matthias

subjects: Science & Technology

abstract: To date Indian summer monsoon (ISM) dynamics have been assessed by changes in stalagmiteδ18O. However, stalagmiteδ18O is influenced by multiple environmental factors (e.g., atmospheric moisture transport, rainfall amount at the study site, and ISM seasonality), precluding simple and clear reconstructions of rainfall amount or variability. This study aims to disentangle these environmental factors by combiningδ18O,δ44Ca, and elemental data from a stalagmite covering Termination II and the last interglacial from Mawmluh Cave, NE India, to produce a semiquantitative reconstruction of past IS Mrainfall. We interpretδ18O as a mixed signal of rainfall source dynamics and rainfall amount and coupledδ44Ca and X/Ca ratios as indicators of local infiltration rate and prior calcite precipitation in the karst zone. The wettest conditions in our studied interval (135 and 100 kyrs BP; BP = before present, with the present being 1950 CE) occurred during Marine Isotope Stage 5e. Our multiproxy data set suggests a likely change in seasonal distribution of Marine Isotope Stage 5e rainfall compared to the Holocene; the wet season was longer with higher‐than‐modern dry season rainfall. Using the last interglacial as an analogue for future anthropogenic warming, our data suggest a more erratic ISM behavior in a warmer world.

text: Local and Regional Indian Summer Monsoon Precipitation Dynamics During Termination II and the Last Interglacial To date Indian summer monsoon (ISM) dynamics have been assessed by changes in stalagmiteδ18O. However, stalagmiteδ18O is influenced by multiple environmental factors (e.g., atmospheric moisture transport, rainfall amount at the study site, and ISM seasonality), precluding simple and clear reconstructions of rainfall amount or variability. This study aims to disentangle these environmental factors by combiningδ18O,δ44Ca, and elemental data from a stalagmite covering Termination II and the last interglacial from Mawmluh Cave, NE India, to produce a semiquantitative reconstruction of past IS Mrainfall. We interpretδ18O as a mixed signal of rainfall source dynamics and rainfall amount and coupledδ44Ca and X/Ca ratios as indicators of local infiltration rate and prior calcite precipitation in the karst zone. The wettest conditions in our studied interval (135 and 100 kyrs BP; BP = before present, with the present being 1950 CE) occurred during Marine Isotope Stage 5e. Our multiproxy data set suggests a likely change in seasonal distribution of Marine Isotope Stage 5e rainfall compared to the Holocene; the wet season was longer with higher‐than‐modern dry season rainfall. Using the last interglacial as an analogue for future anthropogenic warming, our data suggest a more erratic ISM behavior in a warmer world.

year: 2019-11-14

title: Mandated CSR expenditure: the Indian experience

authors: Mukherjee, Abhishek

subjects: Corporate Social Responsibility (CSR)

abstract: The idea that companies service a broad range of stakeholders dates back to the 19th century but has gained increasing traction in more recent times. The question is what to do when the corporate sector fails to keep pace with societal expectations. The Indian Government’s response was to pass legislation on 12 August 2012 to make it mandatory for large corporations to spend a minimum of 2% of their profits on CSR activities, and then to amend this legislation 18 months later to specify the area where these funds must be allocated. In this thesis, we use India as an example of the success or otherwise of taking decisions related to CSR largely out of the hands of management. We analyse the impact that the mandatory CSR regulation may have on investors’ perceptions about what the resulting increased expenditure on CSR will have on corporate profitability, and we then investigate how the companies perceive the mandatory CSR regulation.
There are three studies in this dissertation. The first study uses the flow of information relating to the introduction of mandatory CSR expenditure in India as a means of measuring investor perceptions of the impact that the resulting increase in CSR expenditure will have on company profitability. We use both event study and regression analysis and find that when mandatory CSR spending was first mooted in mid-2008, investors expected that more CSR expenditure would increase future corporate profitability. However, by the time the legislation was passed in August 2012, these expectations had changed to the opposite view.
In the second study, we investigate the drivers and barriers of CSR expenditure, determine the attitudes of corporations towards CSR activities and the impact of making CSR spending mandatory. We surveyed 223 Indian corporations and find that the attitudes of companies on CSR spending largely vary with age, size and type of ownership of firms.  The results of this study indicate that the expenditure on CSR in India is very much dependent on the availability of funds. Also, we provide an explanation for why a large number of Indian companies failed to comply with the requirement under the legislation to allocate 2% of profit towards CSR.
In the third study, we test both the relationship between CSR expenditure and financial performance, both before and after the legislation was introduced. We use panel regressions to analyse the direction of the relationship between CSR spending and firm performance, and then the difference in difference regression analysis to examine the overall impact of mandatory CSR regulation on firm performance. Our findings suggest that the legislation has fallen short of expectations both in terms of the volume of CSR expenditure that has been generated, and the purposes to which it has been directed. In particular, we find that the law has weakened the previously positive relationship between CSR and profitability which can have a perverse effect on the willingness of companies to spend in this area. We conclude that great care has to be taken when implementing mandatory CSR if it is to be effective.

text: Mandated CSR expenditure: the Indian experience The idea that companies service a broad range of stakeholders dates back to the 19th century but has gained increasing traction in more recent times. The question is what to do when the corporate sector fails to keep pace with societal expectations. The Indian Government’s response was to pass legislation on 12 August 2012 to make it mandatory for large corporations to spend a minimum of 2% of their profits on CSR activities, and then to amend this legislation 18 months later to specify the area where these funds must be allocated. In this thesis, we use India as an example of the success or otherwise of taking decisions related to CSR largely out of the hands of management. We analyse the impact that the mandatory CSR regulation may have on investors’ perceptions about what the resulting increased expenditure on CSR will have on corporate profitability, and we then investigate how the companies perceive the mandatory CSR regulation.
There are three studies in this dissertation. The first study uses the flow of information relating to the introduction of mandatory CSR expenditure in India as a means of measuring investor perceptions of the impact that the resulting increase in CSR expenditure will have on company profitability. We use both event study and regression analysis and find that when mandatory CSR spending was first mooted in mid-2008, investors expected that more CSR expenditure would increase future corporate profitability. However, by the time the legislation was passed in August 2012, these expectations had changed to the opposite view.
In the second study, we investigate the drivers and barriers of CSR expenditure, determine the attitudes of corporations towards CSR activities and the impact of making CSR spending mandatory. We surveyed 223 Indian corporations and find that the attitudes of companies on CSR spending largely vary with age, size and type of ownership of firms.  The results of this study indicate that the expenditure on CSR in India is very much dependent on the availability of funds. Also, we provide an explanation for why a large number of Indian companies failed to comply with the requirement under the legislation to allocate 2% of profit towards CSR.
In the third study, we test both the relationship between CSR expenditure and financial performance, both before and after the legislation was introduced. We use panel regressions to analyse the direction of the relationship between CSR spending and firm performance, and then the difference in difference regression analysis to examine the overall impact of mandatory CSR regulation on firm performance. Our findings suggest that the legislation has fallen short of expectations both in terms of the volume of CSR expenditure that has been generated, and the purposes to which it has been directed. In particular, we find that the law has weakened the previously positive relationship between CSR and profitability which can have a perverse effect on the willingness of companies to spend in this area. We conclude that great care has to be taken when implementing mandatory CSR if it is to be effective.

year: 2017

title: Spot sampling of nutrient concentrations in the Puarenga catchment, Rotorua

authors: Abell, Jonathan Michael

subjects: New Zealand

abstract: The Centre for Biodiversity and Ecology Research was approached by Tūhourangi Tribal Authority for assistance with measuring water quality in streams in the Puarenga Stream catchment. Water sampling was subsequently undertaken on 18 July 2011 and samples were analysed to determine concentrations of total and dissolved fractions of nitrogen and phosphorus. 
Nitrogen and phosphorus are both essential plant nutrients which, when present in excess, can cause eutrophication and associated water quality decline of freshwaters. High concentrations of dissolved forms of nitrogen can also be toxic to aquatic organisms. Excessive nitrogen and phosphorus concentrations are typically the result of pollution due to human activities, although groundwater in the Central Volcanic Plateau region can have elevated concentrations of phosphorus arising from natural geological sources.
This report summarises the methods used, presents the results and places measured concentrations in context by drawing comparisons with both guideline and regional mean values.

text: Spot sampling of nutrient concentrations in the Puarenga catchment, Rotorua The Centre for Biodiversity and Ecology Research was approached by Tūhourangi Tribal Authority for assistance with measuring water quality in streams in the Puarenga Stream catchment. Water sampling was subsequently undertaken on 18 July 2011 and samples were analysed to determine concentrations of total and dissolved fractions of nitrogen and phosphorus. 
Nitrogen and phosphorus are both essential plant nutrients which, when present in excess, can cause eutrophication and associated water quality decline of freshwaters. High concentrations of dissolved forms of nitrogen can also be toxic to aquatic organisms. Excessive nitrogen and phosphorus concentrations are typically the result of pollution due to human activities, although groundwater in the Central Volcanic Plateau region can have elevated concentrations of phosphorus arising from natural geological sources.
This report summarises the methods used, presents the results and places measured concentrations in context by drawing comparisons with both guideline and regional mean values.

year: 2011-09