The green economy agenda: business as usual or transformational discourse?

This analysis of the emergence since 2008 of the green economy agenda and the related idea of ‘green growth’ focusses upon the articulation of these discourses within key international economic and environmental institutions and evaluates whether this implies the beginning of an institutional transformation towards an ecologically sustainable world economy. The green economy may have the capacity to help animate a transition away from current socially and ecologically unsustainable patterns of economic growth only if notions of green growth can be discursively separated from green economy, strong articulations of green economy become dominant, and alternative measures of progress to gross domestic product are widely adopted. The concept of ‘rearticulation’, found in post-structural discourse theory, is proposed to guide this transition. This offers a framework to reconstruct notions of prosperity, progress, and security whilst avoiding direct and disempowering discursive conflict with currently hegemonic pro-growth discourses.

Globalization, international trade and welfare

The term globalization is generally used to describe an increase in international transactions in markets for goods and services and factors of production, plus the growth and expanded scope of mar.y institutions that straddle international borders. Globalization has also led to a more liberal economic environment where issues such as labour standards, human rights, the environment, intellectual property rights, investment codes and competition policy are now considered legitimate topics in the trade debate. Free global markets cannot guarantee that air, water or energy resources are accurately priced for sustainable development since there is no mechanism to internalize environmental costs. Economic growth, although a powerful tool for increasing a country's wealth, cannot guarantee that such wealth will be equally distributed. What is needed is environmental and social policy to redistribute the benefits.
Recent empirical studies show that there are clear signs of income convergence among countries that integrate more fully with the world economy but a divergence between these active participants and those who elect to remain insulated from global markets. The inequality within nations (distribution of income) has increased during the period of globalization over the last fifty years.

The importance of overcoming cultural barriers in establishing brand names: an Australian company in China

Considering the importance of cross-cultural competencies in the context of rapid globalisation and the growth of China in the world economy, this paper uses case study methodology, to document the difficulties encountered by an Australian multinational beverage company, Foster’s, in attempting to establish its brand in China’s rapidly expanding market economy. Many of these related to culturally distinct attributes of the market, the consumer base and retail practices. The paper analyses these in terms of key concepts in marketing and cross-cultural business theory, in order to provide guidelines on how to overcome cultural barriers when establishing a foreign brand name in China. It also discusses the impact of cultural differences on brand loyalty after the establishment of the brand and on the sustainability of that brand. In attempting to assist foreign firms to succeed in the Chinese market, this paper offers suggestions that will help marketers to first understand the importance of cultural differences and then to succeed with further recommendations. Being a complex market and a market that is different from the Australian market, this is extremely valuable for those foreign brands entering China.

Review of interventions to encourage SMEs to make environmental improvements

Small and medium-sized enterprises (SMEs) are an important part of the world economy but they are thought to be responsible for around 60% of all carbon dioxide emissions and 70% of all pollution. SMEs often have major problems with limited resources, limited knowledge, and limited technical capabilities to deal with their own negative environmental impact. SMEs exhibit widely differing characteristics and commitment where environmental issues are concerned. Yet under these conditions they are all expected to engage in environmental improvement. Interventions that encourage environmental improvement are often polarised between regulation and legislation at one extreme and voluntary environmental agreement at the other. It is clear that a holistic mixture of interventions is necessary to achieve maximum engagement and environmental improvement by all SMEs. In this paper we categorise the different levels of environmental commitment observed in SMEs and develop a selection or ‘toolkit’ of intervention strategies that might be deployed within each category of SME.

Intervention strategies to engage small and medium sized enterprise in environmental good practice

Small and medium sized enterprises (SMEs) are an important part of the world economy but they are thought to be responsible for around 60% of all carbon dioxide emissions by businesses in the UK and 70% of all pollution. SMEs often have major problems with limited resources, limited knowledge and limited technical capabilities to deal with their own environmental impact. SMEs exhibit widely differing characteristics and behaviours where environmental issues are concerned. Yet under these conditions they are all expected to engage in environmentally responsible business for the greater good of society. Interventions that encourage good environmental behaviour are often polarised between regulation and legislation at one extreme and voluntary environmental agreements at the other. It is clear that a holistic mixture of interventions is necessary to achieve maximum engagement by all SMEs. This paper categorises the main behaviours observed in SMEs towards environmental issues and develops a selection or 'tool kit' of intervention strategies that might be deployed within each category of SME for maximum effect.

Solar thermal aided power generation

Fossil fuel based power generation is and will still be the back bone of our world economy, albeit such form of power generation significantly contributes to global CO2 emissions. Solar energy is a clean, environmental friendly energy source for power generation, however solar photovoltaic electricity generation is not practical for large commercial scales due to its cost and high-tech nature. Solar thermal is another way to use solar energy to generate power. Many attempts to establish solar (solo) thermal power stations have been practiced all over the world. Although there are some advantages in solo solar thermal power systems, the efficiencies and costs of these systems are not so attractive. Alternately by modifying, if possible, the existing coal-fired power stations to generate green sustainable power, a much more efficient means of power generation can be reached. This paper presents the concept of solar aided power generation in conventional coal-fired power stations, i.e., integrating solar (thermal) energy into conventional fossil fuelled power generation cycles (termed as solar aided thermal power). The solar aided power generation (SAPG) concept has technically been derived to use the strong points of the two technologies (traditional regenerative Rankine cycle with relatively higher efficiency and solar heating at relatively low temperature range). The SAPG does not only contribute to increase the efficiencies of the conventional power station and reduce its emission of the greenhouse gases, but also provides a better way to use solar heat to generate the power. This paper presents the advantages of the SAPG at conceptual level.

Clean technology, willingness to pay and market size

This paper extends Salop’s model of localized competition by introducing the consumers’ willingness to pay (WTP) for clean products and allows an individual firm to choose between a clean or a dirty technology. We assume that a clean technology is relatively costly to adopt. The consumer is willing to pay more for a product produced with clean technology and the model can also be interpreted as a world economy model where each firm represents a country. There exists a critical value of m (proportion of firms adopting the clean technology), m*, such that if m < m* then no country adopts the clean technology, all countries adopt the clean technology only if m > m* while some countries will adopt the clean technology and some will not adopt the clean technology if m = m*. Our results also identify an example of coordination failure. Since symmetric technology adoption delivers the same level of profits as non-adoption, global coordination will be necessary to achieve the clean technology adoption outcome. Finally, we demonstrate that the
private and public (social planner) incentives to adopt clean technology differ.

Need to know : lessons from Sino-Australian business negotiators on the importance of guanxi, emotions and generational differences in Chinese negotiation behaviour

The forces of globalisation over the last few decades have created opportunities for intemational business as never before, whilst leaving no organisation immune to competition. With the Global Financial Crisis impacting the world economy, the BRIC economies as a group - Brazil, Russia, India and China, have steadily benefited from continuing growth in 2008 and 2009 (Bhattacharya, Hemerling and Waltermann,2010). Despite China being a key international trading partner for Australia, the number of successful joint ventures and negotiations between the two countries remains limited. A closer examination of the international business interactions between Australia and China is thus urgently needed. When negotiating with the Chinese, Western managers may not always be aware of what they are really negotiating for. To be successful, they have to be equipped with the 'specialised knowledge', a form of 'tacit or implicit knowledge', which comes with experience (Nonaka, 1994, Pavesi, 2003) in communicating and negotiating with their Chinese counterparts. The Chinese way of business negotiation can challenge the logic of Western business thinking. This, coupled with possible generational differences or changes in the Chinese business counterpart's way of doing business, means we must try to understand the business communication and negotiation process from not only the Western but also the Chinese perspective. In particular, in addition to the contextual (Phatak, & Habib, 1996; Risberg, 1997), social (Ghauri, & Fang, 2001), and cognitive factors (George, Gareth, & Gonzalez, 1998) focused on by past researchers, the intangible aspects of negotiation must also be considered. These include trust, reputation, relationship quality (guanxi in the case of the Chinese), and the moods and emotions that shape the processes and outcomes of communication and negotiation (Griffith, 2002; Hartel & Ma, 2006; Ma & Hartel 2005; and Zhao & Krohmer, 2006). This paper reports on a qualitative investigation of the communication processes occurring in negotiations between Australian and Chinese managers and entrepreneurs. The examination is based on a theoretical framework looking at emotions and culture from an affective events theory (AET) perspective. Both interview and focus groups techniques were used. Findings identified guanxi, core to relationship development and maintenance in Chinese culture, together with emotions as major determining factors of negotiation outcomes. Findings also suggest there are generational differences in attitudes among Chinese managers with Gen. X and Gen. Y placing a different emphasis on guanxi in business. These findings suggest that the popular advice to people doing business in China is out of date.

Possible changes of pore size during nanofiltration

The textile industry plays an important role in the world economy as well as our daily life. However, the industry consuming a large quantity of water and generating huge amount of wastewater are unsustainable to the conservation of our precious resources and environment and need improvement. The wastewater, especially the one from spent cotton reactive dyebaths, contains high salt content, various dyes and high alkalinity. This study was carried out to investigate the feasibility of membrane filtration treating spent cotton reactive dye baths. A stirred cell with nanofiltration membrane was used aiming at reusing the reclaimed water. Spent dyebath solutions were synthesized containing hydrolyzed C. I. Reactive Black 5 and sodium chloride. When a piece of membrane was used repeatedly it was expected the flux would decrease after each usage due to fouling of impurities. However, it was found that the water flux increased while dye rejection decreased after each run. At pH 10, the dye rejection decreased significantly. It was proposed that the pore sizes of membrane might have changed during membrane filtration. An equation was derived calculating the possible changes of pore sizes.

The direct costs of raising external equity capital for US REIT IPOs

Purpose – The purpose of this paper is to investigate the total direct costs of raising external equity capital for US real estate investment trust (REIT) initial public offerings (IPOs).

Design/methodology/approach – The study provides recent evidence on total direct costs for a comprehensive dataset of 125 US REIT IPOs from 1996 until June 2010. A multivariate OLS regression is performed to determine significant factors influencing the level of total direct costs and also underwriting fees and non-underwriting direct expenses.

Findings – The study finds economies of scale in total direct costs, underwriting fees and non-underwriting expenses. The equally (value) weighted average total direct costs are 8.33 percent (7.52 percent), consisting of 6.49 percent (6.30 percent) underwriting fees and 1.87 percent (1.22 percent) non-underwriting direct expenses. The study finds a declining trend of total direct costs for post 2000 IPOs which is attributed to the declining trend in both underwriting fees and non-underwriting direct expenses. Offer size is a critical determinant for both total direct costs and their individual components and inversely affects these costs. The total direct costs are found significantly higher for equity REITs than for mortgage REITs and are also significantly higher for offers listed in New York Stock Exchange (NYSE). Underwriting fees appear to be negatively influenced by the offer price, the number of representative underwriters involved in the issue, industry return volatility and the number of potential specific risk factors but positively influenced by prior quarter industry dividend yield and ownership limit identified in the prospectus. After controlling for time trend, the paper finds REIT IPOs incur higher non-underwriting direct expenses in response to higher industry return volatility prior to the offer.

Originality/value – This paper adds to the international REIT IPO literature by exploring a number of new influencing factors behind total direct costs, underwriting fees and non-underwriting direct expenses. The study includes data during the recent GFC period.

The silicon ceiling : women managers and leaders in ICT in Australia

When I was in high school, it was always talked up that women could do science, engineering and technical [work] too. While we are just as capable as men, when we get into these industries, we face other challenges. There have been brave women who have done their bit to overcome these challenges, but it also requires brave men to challenge the attitudes of these industries to women participating in their workplaces. (APESMA, 2010) Silicon: Elemental silicon has a large impact on the modern world economy ... Because of wide use of silicon in integrated circuits, the basis of most computers, a great deal of modern technology depends on it. (Wikipedia, 2011) The chapter begins with a historical and current analysis of female participation in the workforce, in education and in leadership. The second section focuses on the information and communication technology (ICT) workforce in particular. The third section presents findings from a recent case study that gathered both quantitative and qualitative data from a diverse group of professional women in ICT. The case study provides a view into the ICT profession from the female perspective and identifies a selection of factors that would make a significant difference to female participation and longevity in the profession. The conclusion reached after this investigation is that the silicon ceiling is certainly not visible, yet remains fixed due to nonessential job characteristics that persist in the industry. The future looks bleak unless more female managers and male champions ensure that these nonessential employment characteristics are removed from ICT positions.

Reading the local and global: teaching literature in secondary schools in Australia

Recently Australia has witnessed a revival of concern about the place of Australian literature within the school curriculum. This has occurred within  a policy environment where there is increasing emphasis on Australia’s place  in a world economy, and on the need to encourage young people to think of  themselves in a global context. These dimensions are reflected in the  recently published Australian Curriculum: English, which requires students to read texts of ‘enduring artistic and cultural value’ that are drawn from  'world and Australian literature’. No indication, however, is given as to how the reading and literary interpretation that students do might meaningfully be framed by such categories. This essay asks: what saliences do the categories of the ‘local’, the ‘national’ and the ‘global’ have when  young people engage with literary texts? How does this impact on teachers’  and students’ interpretative approaches to literature? What place does a  ‘literary’ education, whether conceived in ‘local’, 'national’ or ‘global’  terms, have in the twenty-first century?

Does growth attract FDI?

FDI is seen widely as a vital source of investment, technology transfer, and growth. The factors that attract FDI have been a longstanding source of debate. The authors present a comprehensive assessment of the accumulated evidence on one factor, the success of economic growth in attracting FDI. Meta-regression analysis is applied to 946 estimates from 140 empirical studies. The results confirm that, on average, economic growth is an important determinant of FDI. Overall, there is a positive correlation between growth and FDI and this is much larger among single country case studies than with cross-country analysis.