International Support of Climate Change Policies in Developing Countries: Strategic, Moral and Fairness Aspects

33 p.

A comparative study of domestic, European and international job-related relocation

This paper explores a number of relocation outcomes for geographically mobile employees in the following three regions: Germany as the home country and destination for domestic assignments (n = 115), Western Europe (n = 116) and other countries (n = 236). The satisfaction with various aspects of the post-relocation environment, the perception of change between the pre- and post-relocation environment and the attachment to the post-relocation environment at various levels were compared between the three groups. For the European and international sub-samples differences in the ideal country and future plans were also investigated. The group that stood out most clearly was the domestic sub-sample. It emerged as the group least satisfied with their job or task characteristics, perceived significantly fewer changes in the environment and was comparatively eager to leave the site they were currently working at and the job they were currently employed in. The sometimes proposed redefinition of intra-European assignments as ‘quasi-domestic’ relocation appears to be inappropriate.

Unfunded pension liabilities and sponsoring firm credit risk: an international analysis of corporate bond spreads

This paper tests empirically whether pension information derived by corporate pension accounting disclosures is priced in corporate bond spreads. The model represents a hybrid of more traditional accounting ratio-based models of credit risk and structural models of bond spreads initiated by Merton (1974). The model is fitted to 5 years of data from 2002 to 2006 featuring companies from the US and Europe. The paper finds that while unfunded pension liabilities are priced in the overall sample, they are not priced as aggressively as traditional leverage. Furthermore, an extended model shows that the pension–credit risk relation is most evident in the US and Germany, where unfunded pension liabilities are priced more aggressively than traditional forms of leverage. No pension–credit risk relation is found in the other countries sampled, notably the UK, Netherlands and France.

Sexing up the city in the international beauty contest: the performative nature of spatial planning and the fictive spectacle of place branding

This paper responds to recent calls for more academic research and critical discussion on the relationship between spatial planning and city branding. Through the lens of Liverpool, the article analyses how key planning projects have delivered major transformations in the city's built environment and cultural landscape. More specifically, in concentrating on the performative nature of spatial planning it reveals the physical, symbolic and discursive re-imaging of Liverpool into a 'world class city'. Another aspect of the paper presents important socioeconomic datasets and offers a critical reading of the re-branding in showing how it presents an inaccurate representation of Liverpool. The evidence provided indicates that a more accurate label for Liverpool is a polarised and divided city, thereby questioning the fictive spectacle of city branding. Finally, the paper ends with some critical commentary on the role of spatial planning as an accessory to the sophistry of city branding.

Valorization of solid wastes from cellulose and paper industry

This thesis reports in detail studies of industrial solid wastes valorization as alternative raw materials. All tested wastes are classified as non-hazardous and are generated in the pulp and paper process, including primary sludge, dregs, grits, lime mud and bottom ash (this generated in a process that occurs in parallel to the production of cellulose, whose aim is the production of energy to supply the plant through the combustion of forest biomass in fluidized bed). A detailed general characterization was performed at each waste and according to their characteristics, they were selected some applications in materials with potential use, specifically in Fibercement, Bituminous Mixture for regularization layer and industrial mortars (rendering mortars and cementitious-adhesive). After decided to application each waste was specifically tested to proceed the setting up of formulations containing different content of waste in replacement of the raw conventional material. As an isolated case, the bottom ash was tested not only as an alternative raw material for construction materials, but also it was tested for its use in fluidized bed in which the waste is generated as raw material. Both dregs and bottom ash had undergone special treatment to make possible to obtain a better quality of waste in order do not compromise the final product characteristics and process. The dregs were tested in bituminous mixtures as received and also washed (on the laboratory scale to remove soluble salts) and bottom ash were washed and screened in industrial scale (for removal of soluble salts, especially chlorides and coarse fraction particles elimination - particles larger than 1 mm size). The remaining residues form used in such as received avoiding additional costs. The results indicated potential and some limitations for each application to the use of these wastes as alternative raw material, but in some cases, the benefits in relation to valorization overlap with its limitations in both aspects, environmental and economic.

The carbon disclosure project, an evolution in international environmental corporate governance : motivations and determinants of market response to voluntary disclosures

This paper examines the factors associated with Canadian firms voluntarily disclosing climate change information through the Carbon Disclosure Project. Five hypotheses are presented to explain the factors influencing management's decision to disclose this information. These hypotheses include a response to shareholder activism, domestic institutional investor shareholder activism, signalling, litigation risk, and low cost publicity. Both binary logistic regressions as well as a cross-sectional analysis of the equity market's response to the environmental disclosures being made were used to test these hypotheses. Support was found for shareholder activism, low cost publicity, and litigation risk. However, the equity market's response was not found to be statistically significant.

The Court of Justice of the European Union as a fundamental rights tribunal: challenges for the effective delivery of fundamental rights in the area of freedom, security and justice. CEPS Paper in Liberty and Security in Europe No. 49, 29 August 2012

This paper reflects on the challenges facing the effective implementation of the new EU fundamental rights architecture that emerged from the Lisbon Treaty. Particular attention is paid to the role of the Court of Justice of the European Union (CJEU) and its ability to function as a ‘fundamental rights tribunal’. The paper first analyses the praxis of the European Court of Human Rights in Strasbourg and its long-standing experience in overseeing the practical implementation of the European Convention for the Protection of Human Rights and Fundamental Freedoms. Against this analysis, it then examines the readiness of the CJEU to live up to its consolidated and strengthened mandate on fundamental rights as one of the prime guarantors of the effective implementation of the EU Charter of Fundamental Rights. We specifically review the role of ‘third-party interventions’ by non-governmental organisations, international and regional human rights actors as well as ‘interim relief measures’ when ensuring effective judicial protection of vulnerable individuals in cases of alleged violations of fundamental human rights. To flesh out our arguments, we rely on examples within the scope of the relatively new and complex domain of EU legislation, the Area of Freedom, Security and Justice (AFSJ), and its immigration, external border and asylum policies. In view of the fundamental rights-sensitive nature of these domains, which often encounter shifts of accountability and responsibility in their practical application, and the Lisbon Treaty’s expansion of the jurisdiction of the CJEU to interpret and review EU AFSJ legislation, this area can be seen as an excellent test case for the analyses at hand. The final section puts forth a set of policy suggestions that can assist the CJEU in the process of adjusting itself to the new fundamental rights context in a post-Lisbon Treaty setting.

International office investment in global cities: the production of financial space and systemic risk

The paper explores the relationships between UK commercial real estate and regional economic development as a foundation for the analysis of the role of real estate investment in local economic development. Linkages between economic growth, development, real estate performance and investment allocations are documented. Long-run regional property performance is not the product of long-run economic growth, and weakly related to indicators of long-run supply and demand. Changes in regional portfolio weights seem driven by neither market performance nor underlying fundamentals. In the short run, regional investment shifts show no clear leads or lags with market performance.

South Korean MNEs' international HRM approach: hybridization of global standards and local practices

This paper analyses the international Human Resource Management (HRM) approaches of Korean Multinational Enterprises (MNEs). Through a study of nine major Korean MNEs’ approaches to subsidiary-HRM, it is argued that the firms pursue hybridization through a blending of localization and global standardization across detailed elements in five broad HRM practice areas. Local discretion is allowed if not counter to global HRM system requirements and “global best practices” used as the template for global standardization of selected HRM elements. This strategic orientation appears to be part of a deliberate response to the “liabilities of origin” born by firms from non-dominant economies.

Euroland - The effect of Euro on international trade : Are there winners and losers in this ''Euro-game''?

This paper examines whether European Monetary Union (EMU) countries share fairly the effect of their membership in Eurozone (EZ) or whether are winners and losers in this ''Euro-game''. By using panel data of 27 European Union (EU) Member States for the period 2001-2012 in the context of a gravity model, we focus on estimating the Euro’s effect on bilateral trade and we detect whether this effect differs across the Member States of EZ. Two estimation methods are applied: Pooled OLS estimator and Fixed Effects estimator. The empirical results come to the conclusion that the individual country effects differ and are statistically significant, indicating that EMU’s effect on trade differs across the Member States of EZ. The overall effect of the Euro is statistically insignificant, regardless the estimation method, demonstrating that the common European currency may have no effect on bilateral trade.