Standardized environmental management systems as an internal management tool

In a principal-agent model we analyze the firm’s decision to adopt an informal or a standardized Environmental Management System (EMS). Our results are consistent with empirical evidence in several respects. A standardized EMS increases the internal control at the cost of introducing some degree of rigidity that entails an endogenous setup cost. Standardized systems are more prone to be adopted by big and well established firms and under tougher environmental policies. Firms with standardized EMS tend to devote more effort to abatement although this effort results in lower pollution only if public incentives are strong enough, suggesting a complementarity relationship between standardized EMS and public policies. Emission charges have both a marginal effect on abatement and a qualitative effect on the adoption decision that may induce a conflict between private and public interests. As a result of the combination of these two effects it can be optimal for the government to distort the tax in a specific way in order to push the firm to choose the socially optimal EMS. The introduction of standardized systems can result in win-win situations where firms, society and the environment get better off.

The Westerly Index as complementary indicator of the North Atlantic oscillation in explaining drought variability across Europe

This paper analyses the influence of different atmospheric circulation indices on the multi-scalar drought variability across Europe by using the Standardized Precipitation Evapotranspiration Index (SPEI). The monthly circulation indices used in this study include the North Atlantic oscillation (NAO), the East Atlantic (EA), the Scandinavian (SCAN) and the East Atlantic-Western Russia (EA-WR) patterns, as well as the recently published Westerly Index (WI), defined as the persistence of westerly winds over the eastern north Atlantic region. The results indicate that European drought variability is better explained by the station-based NAO index and the WI than by any other combination of circulation indices. In northern and central Europe the variability of drought severity for different seasons and time-scales is strongly associated with the WI. On the contrary, the influence of the NAO on southern Europe droughts is stronger than that exerted by the WI. The correlation patterns of the NAO and WI with the SPEI show a spatial complementarity in shaping drought variability across Europe. Lagged correlations of the NAO and WI with the SPEI also indicate enough skill of both indices to anticipate drought severity several months in advance. As long as instrumental series of the NAO and WI are available, their combined use would allow inferring European drought variability for the last two centuries and improve the calibration and interpretation of paleoclimatic proxies associated with drought.

Análisis de las variables de marketing que afectan al valor del cliente. La permanencia como variable controlable

To know how marketing variables affect customer value is essential for a company in order to be market and customer oriented, and to improve investment efficiency in both attracting and retaining customers. Thus, the assessment of the influence of marketing variables in customer value is of prime importance. This is recognized in many empirical studies of these variables, which address the impact of a single variable (or sets of a few variables) on customer value. A comprehensive, integrated assessment of all marketing variables and their interdependencies is an arduous and complex task for researchers and marketing managers. This research proposes a theoretical model of customer value that takes into account all significant marketing variables that have been partially addressed in empirical investigations of other researchers. These marketing variables include brand and reputation, point of sale, employees, price, termination fee commitment, discounts, complementarity of products, experiences, emotions, perceived value, quality, satisfaction, switching costs, and loyalty. The model incorporates the relationship between each variable with retention and with customer value as well as the relationships between them. A special focus is placed on the empirical analysis of the termination fee commitment and its relationship with customer value. This variable is widely used in the telecommunication’s industry for its influence on customer retention from the moment of purchase. However, there is strikingly little research in this topic. A large customer database of a telecommunications company containing five years information about 63.165 customers is used for this purpose. Multivariate linear regression and ANOVA method are applied...