The True Cost of Greenhouse Gas Emissions: Analysis of 1,000 Global Companies

This study elucidated the shadow price of greenhouse gas (GHG) emissions for 1,024 international companies worldwide that were surveyed from 15 industries in 37 major countries. Our results indicate that the shadow price of GHG at the firm level is much higher than indicated in previous studies. The higher shadow price was found in this study as a result of the use of Scope 3 GHG emissions data. The results of this research indicate that a firm would carry a high cost of GHG emissions if Scope 3 GHG emissions were the focus of the discussion of corporate social responsibility. In addition, such shadow prices were determined to differ substantially among countries, among sectors, and within sectors. Although a number of studies have calculated the shadow price of GHG emissions, these studies have employed country-level or industry-level data or a small sample of firm-level data in one country. This new data from a worldwide firm analysis of the shadow price of GHG emissions can play an important role in developing climate policy and promoting sustainable development.

Environmental efficiency of energy, materials, and emissions

This study estimates the environmental efficiency of international listed firms in 10 worldwide sectors from 2007 to 2013 by applying an order-m method, a non-parametric approach based on free disposal hull with subsampling bootstrapping. Using a conventional output of gross profit and two conventional inputs of labor and capital, this study examines the order-m environmental efficiency accounting for the presence of each of 10 undesirable inputs/outputs and measures the shadow prices of each undesirable input and output. The results show that there is greater potential for the reduction of undesirable inputs rather than bad outputs. On average, total energy, electricity, or water usage has the potential to be reduced by 50%. The median shadow prices of undesirable inputs, however, are much higher than the surveyed representative market prices. Approximately 10% of the firms in the sample appear to be potential sellers or production reducers in terms of undesirable inputs/outputs, which implies that the price of each item at the current level has little impact on most of the firms. Moreover, this study shows that the environmental, social, and governance activities of a firm do not considerably affect environmental efficiency.

Data mining on prices of highway project main material based on WEB

The management of main material prices of provincial highway project quota has problems of lag and blindness. Framework of provincial highway project quota data MIS and main material price data warehouse were established based on WEB firstly. Then concrete processes of provincial highway project main material prices were brought forward based on BP neural network algorithmic. After that standard BP algorithmic, additional momentum modify BP network algorithmic, self-adaptive study speed improved BP network algorithmic were compared in predicting highway project main prices. The result indicated that it is feasible to predict highway main material prices using BP NN, and using self-adaptive study speed improved BP network algorithmic is the relatively best one.

Networks in the shadow of markets and hierarchies : calling the shots in the visual effects industry

The nature and organisation of creative industries and the creative economy has received increased attention in recent academic and policy literatures (Florida 2002; Grabher 2002; Scott 2006a). Constituted as one variant on new economy narratives, creativity, alongside knowledge, has been presented as a key competitive asset, Such industries – ranging from advertising, to film and new media – are seen as not merely expanding their scale and scope, but as leading edge proponents of a more general trend towards new forms of organization and economic coordination (Davis and Scase 2000). The idea of network forms (and the consequent displacement of markets and hierarchies) has been at the heart of attempts to differentiate the field economically and spatially. Across both the discussion of production models and work/employment relations is the assertion of the enhanced importance of trust and non-market relations in coordinating structures and practices. This reflects an influential view in sociological, management, geography and other literatures that social life is ‘intrinsically networked’ (Sunley 2008: 12) and that we can confidently use the term ‘network society’ to describe contemporary structures and practices (Castells 1996). Our paper is sceptical of the conceptual and empirical foundations of such arguments. We draw on a number of theoretical resources, including institutional theory, global value chain analysis and labour process theory (see Smith and McKinlay 2009) to explore how a more realistic and grounded analysis of the nature of and limits to networks can be articulated. Given space constraints, we cannot address all the dimensions of network arguments or evidence. Our focus is on inter and intra-firm relations and draws on research into a particular creative industry – visual effects – that is a relatively new though increasingly important global production network. Through this examination a different model of the creative industries and creative work emerges – one in which market rules and patterns of hierarchical interaction structure the behaviour of economic actors and remain a central focus of analysis. The next section outlines and unpacks in more detail arguments concerning the role and significance of networks, markets and hierarchies in production models and work organisation in creative industries and the ‘creative economy’.

Towards an automatic road lane marks extraction based on ISODATA segmentation and shadow detection from large-scale aerial images

The automatic extraction of road features from remote sensed images has been a topic of great interest within the photogrammetric and remote sensing communities for over 3 decades. Although various techniques have been reported in the literature, it is still challenging to efficiently extract the road details with the increasing of image resolution as well as the requirement for accurate and up-to-date road data. In this paper, we will focus on the automatic detection of road lane markings, which are crucial for many applications, including lane level navigation and lane departure warning. The approach consists of four steps: i) data preprocessing, ii) image segmentation and road surface detection, iii) road lane marking extraction based on the generated road surface, and iv) testing and system evaluation. The proposed approach utilized the unsupervised ISODATA image segmentation algorithm, which segments the image into vegetation regions, and road surface based only on the Cb component of YCbCr color space. A shadow detection method based on YCbCr color space is also employed to detect and recover the shadows from the road surface casted by the vehicles and trees. Finally, the lane marking features are detected from the road surface using the histogram clustering. The experiments of applying the proposed method to the aerial imagery dataset of Gympie, Queensland demonstrate the efficiency of the approach.

Cities in the airports 'shadow' : underlying interests and discretionary power in airport-region development

The previously distinct boundary between airports and their cities has become increasingly blurred as new interests and actors are identified as important stakeholders in the decision making process. As a consequence airport entities are more than ever seeking an integrated existence with their surrounding regions. While current planning strategies provide insights on how to improve and leverage land use planning in and around airports, emerging challenges for implementing and protecting these planning ideals stem from the governance shadows of development decisions. The thesis of this paper is that improving the identification, articulation and consideration of city and airport interests in the development approval process (between planning and implementation) can help avoid outcomes that hinder the ability of cities and their airports to meet their separate/mutual long-term objectives. By applying a network governance perspective to the pilot case study of Brisbane, analysis of overlapping and competing actor interests show how different governance arrangements facilitate (or impede) decision making that protects sustainable ‘airport region’ development. ---------- Contributions are made to airport and city development decision makers through the identification and analysis of effective and ineffective decision making pathways, and to governance literature by way of forwarding empirically derived frameworks for showing how actors protect their interests in the ‘crowded decision making domain’ of airport region development. This work was carried out through the Airport Metropolis Research Project under the Australian Research Council’s Linkage Projects funding scheme (LP0775225).

Modelling Wages and Prices in Australia

This paper estimates a simultaneous-equation model of wages and prices for Australia, underpinned by a competing claims framework of imperfect competition. Two separate co-integrating relationships for wages and prices are identified by imposing the economic hypotheses implied by the theory. The steady-state relationships for wages and prices are then embedded in a parsimonious, dynamic wage-price model. The final model is both simple and parsimonious and able to describe the process of wage and price inflation in Australia

Modelling Spikes in Electricity Prices

uring periods of market stress, electricity prices can rise dramatically. Electricity retailers cannot pass these extreme prices on to customers because of retail price regulation. Improved prediction of these price spikes therefore is important for risk management. This paper builds a time-varying-probability Markov-switching model of Queensland electricity prices, aimed particularly at forecasting price spikes. Variables capturing demand and weather patterns are used to drive the transition probabilities. Unlike traditional Markov-switching models that assume normality of the prices in each state, the model presented here uses a generalised beta distribution to allow for the skewness in the distribution of electricity prices during high-price episodes.

Assessing the impact of floods and flood legislation on residential property prices

The changing development and population sprawl in major cities, especially those located in high rainfall areas, has resulted in the need to review and re-assess potential flood impacts in these cities. In many cases these new flood lines and flood maps have placed residential property that was previously considered to be flood free to now be considered to be potentially flood liable. Previous research based in Sydney and the UK has identified the fact that residential property that has been subject to flooding has a decreased price and higher investment risk than flood free property in the same location. These studies have also shown that the greatest impact on residential property subject to flooding is just following a flood event. In June 2009, Brisbane City Council released revised flood maps for the Greater Brisbane region and these maps have identified areas that have not previously been considered flood liable. This paper will analyse the sale performance of flood liable streets in the main flood areas of Brisbane over the period January 1990 through to June 2009, to determine the variation in price for these flood liable areas to the residential property immediately adjoining them. The average sale price will be tracked on both a geographic location and socio-economic basis.

The impact of tax morale and institutional quality on the shadow economy

This paper uses a multivariate analysis to examine how countries‘ tax morale and institutional quality affect the shadow economy. The literature strongly emphasizes the quantitative importance of these factors in understanding the level of and changes in the shadow economy. Newly available data sources offer the unique opportunity to further illuminate a topic that has received increased attention. After controlling for a variety of potential factors, we find strong support that a higher tax morale and a higher institutional quality lead to a smaller shadow economy.

Local autonomy, tax morale, and the shadow economy

Policymakers often propose strict enforcement strategies to fight the shadow economy and to increase tax morale. However, there is an alternative bottom-up approach that decentralises political power to those who are close to the problems. This paper analyses the relationship with local autonomy. We use data on tax morale at the individual level and macro data on the size of the shadow economy to analyse the relevance of local autonomy and compliance in Switzerland. The findings suggest that there is a positive (negative) relationship between local autonomy and tax morale (size of the shadow economy).