Environmental shareholder value. Economic success with corporate environmental management

The links between corporate environmental protection and economic success have been analysed vigorously in several theoretical and empirical studies. Most studies are based on the hypothesis that the amount of environmental protection is somehow - negatively or positively - correlated with the economic success of the company. We argue that the amount of corporate environmental protection per se neither spurs nor reduces shareholder value, which is maybe the most important measure of economic success at present. Moreover, the effect environmental protection exerts on shareholder value is determined by the manner in which corporate environmental management is practised. Referring to the value drivers of shareholder value, we discuss the characteristics necessary to increase shareholder value, or at least to contain any reduction as effectively as possible.

Aggressive responses to broadband trills are related to subsequent pairing success in nightingales

In sexually selected signals, distinct components often have specific signal value in mate choice or male-male competition. In songbirds, structural song traits such as trills, that is, a series of repetitive notes, can be important in female choice. However, little is known about their signal value in male-male interactions. Here, we investigated the hypothesis that males assess the competitive abilities of rivals based on the use and performance of rapid broadband trills produced within songs. Using a 2-speaker playback experiment, we exposed territorial male nightingales, Luscinia megarhynchos, that differed in their subsequent pairing success, to a simulated vocal interaction between 2 unfamiliar rivals. The singing of the 2 simulated rivals differed in the number of songs containing rapid broadband trills. Subjects responded significantly more strongly to the loudspeaker that broadcast songs containing such trills than to the loudspeaker that broadcast exclusively songs without such trills. Moreover, responses also depended on the fine structure of trills. Males that became paired later in the season significantly increased their response intensity with increasing trill performance, whereas males that remained unpaired responded in the opposite way and decreased their response intensity with increasing trill performance. These results indicate that rapid broadband trills are a signal of aggression and that the nature of the response in vocal interactions reflects aspects of the challenged male's fitness. © The Author 2008. Published by Oxford University Press on behalf of the International Society for Behavioral Ecology. All rights reserved.


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Strategic Complexity and Success - Small Firms Strategies in a Mature Market

his paper develops a typology of strategic options for small firms in the furniture industry and examines the extent to which firms are re-engineering their strategies in response to profit performance. Empirical analysis is based on data from 39 firms with between 10 and 100 employees in the Irish furniture industry. Three main results emerge from the analysis. First, firms in the Irish furniture industry predominantly adopt “simple” business development strategies. Secondly, in terms of profit performance, we find no evidence that simple strategies unambiguously outperform more complex approaches. Instead, the success of both simple and complex business strategies is directly related to the strength of firms’ resource base. Finally, systematic differences were found in firms’ ability or willingness to re-engineer their strategies in the light of their profit performance.

Tracking leatherback turtles (Dermochelys coriacea) during consecutive inter-nesting intervals: Further support for direct transmitter attachment

Over recent years there have been substantial efforts to record and interpret the post-nesting movements of leatherback turtles (Dermochelys coriacea) breeding in tropical regions. Less well documented are the movements undertaken by individual turtles during the breeding season itself, or more specifically between sequential nesting events. Such movements are of interest for two reasons: (1) gravid female leatherbacks may range extensively into the territorial waters and nesting beaches of neighbouring countries, raising questions for conservationists and population ecologists; and (2) the magnitude of movements themselves help elucidate underlying reproductive strategies (e.g. whether to rest near to the nesting or forage extensively). Here, satellite relay data loggers are used (SRDLs) to detail the movements and behaviour of two female leatherback turtles throughout three consecutive inter-nesting intervals in the Commonwealth of Dominica, West Indies. Both near-shore residence and extensive inter-nesting movements were recorded, contrasting previous studies, with movements away from the nesting beach increasing towards the end of the nesting season. Using this behavioural study as a backdrop, the suitability of attaching satellite transmitters directly to the carapace was additionally explored as an alternative approach to conventional harness deployments. Specifically, the principal aims were to (1) gather empirical data on speed of travel and (2) assess dive performance (aerobic dive limit) to enable comparisons with turtles previously fitted with harnesses elsewhere in the Caribbean (n = 6 turtles; Grenada, WI). This produced mixed results with animals bearing directly attached transmitters travelling significantly faster (55.21 km day(-1): SD 6.68) than harnessed individuals (39.80 km day(-1); SD 6.19); whilst no discernable difference in dive performance could be found between the two groups of study animals. (C) 2009 Elsevier B.V. All rights reserved.

Protracted rainfall decreases temperature within leatherback turtle (Dermochelys coriacea) clutches in Grenada, West Indies: Ecological implications for a species displaying temperature dependent sex determination

Protracted or intense rainfall may affect the reproductive success of reptilian species on a number of levels ranging from the availability of prey, the integrity of the nesting site and the subsequent survivability of offspring. For sea turtles (a species displaying temperature sex determination) nesting throughout the tropics and subtropics, rainfall has previously been shown to influence the development environment of clutches; in its extreme resulting in high levels of egg or hatchling mortality. Yet when compared to other abiotic variables affecting clutch success, rainfall has received relatively little attention. We therefore examined how fluctuations in local rainfall at a tropical nesting site for leatherback turtles (Dermochelys coriacea) affected the nest environment. Temperature data loggers placed within clutches (n = 8) revealed that protracted rainfall had a marked cooling effect on nests, so that seasonally improbable male-producing temperatures (

First records of oceanic dive profiles for leatherback turtles, Dermochelys coriacea, indicate behavioural plasticity associated with long-distance migration

We used Satellite Relay Data Loggers to obtain the first dive profiles for critically endangered leatherback turtles outside the nesting season. As individuals moved from the Caribbean out into the Atlantic, key aspects of their diving behaviour changed markedly, in line with theoretical predictions for how dive duration should vary with foraging success. In particular, in the Atlantic, where foraging success is expected to be higher, dives became much longer than in the Caribbean. The deepest-ever dive profile recorded for a reptile was obtained in the oceanic Atlantic, with a 54-min dive to 626 m on 26 August 2002. However, dives were typically much shallower (generally

Diving behaviour during the internesting interval for loggerhead turtles Caretta caretta nesting in Cyprus

Time depth recorders were used to assess the patterns of depth utilisation by 2 loggerhead turtles Caretta caretta in Cyprus, eastern Mediterranean. Dives to the seabed accounted for 59 % (171 h) and 75 % (215 h) of the internesting interval, respectively, with most dives being shallow (

Thermal conditions in nests of loggerhead turtles: further evidence suggesting female skewed sex ratios of hatchling production in the Mediterranean

Temperature was recorded in 23 nests of the loggerhead turtle (Caretta caretta) and control sites of nest depth at Alagadi (35 degrees 33'N, 33 degrees 47'E), Northern Cyprus, eastern Mediterranean. Control site sand temperature was found to be highly correlated with mean daily air temperature and mean nest temperature. Mean temperature in nests ranged from 29.5 degreesC to 33.2 degreesC, with mean temperature in the middle third of incubation ranging from 29.3 degreesC to 33.7 degreesC. Hatching success was significantly correlated with incubation temperature, with nests experiencing very high temperatures exhibiting low hatching success. All nests demonstrated regular diel variation in temperature with mean daily fluctuations ranging from 0.3 degreesC to 1.4 degreesC. Increase in temperature above that of the prevailing sand temperature attributed to metabolic heating was clearly demonstrated in 14 of 15 clutches, with the mean level of metabolic heating of all nests being 0.4 degreesC. However, the level of metabolic heating varied markedly throughout the incubation period with levels being significantly higher in the final third of incubation. Incubation duration was found to be significantly correlated to both the mean temperature of nests throughout the incubation period and during the middle third of incubation. The relationship between incubation duration and mean incubation temperature was used to estimate mean incubation temperatures at most major nesting sites throughout the Mediterranean from available data on incubation durations, showing that mean incubation temperature is likely to be above 29.0 degreesC at most sites in most seasons. (C) 2001 Elsevier Science B.V. All rights reserved.

Critical Success Factors for Transfer-Operate-Transfer Urban Water Supply Projects in China

Over the years, build-operate-transfer (BOT) has continuously attracted research interests. Many studies on BOT have been carried out. Variations of BOT such as build-own-operate-transfer and build-own-operate have also been reported in some relevant publications. However, few investigations thus far have been conducted for transfer-operate-transfer (TOT). Therefore, there is a knowledge gap in this particular field. TOT is a new model that is suitable for existing infrastructure and public utility projects formerly funded by the governments and currently operated by state-owned enterprises. It refers to the transfer of a running public project to a foreign business or domestic private entity. Based on four case studies carried out in the Chinese water supply industry, this paper examines why there is an increasing need for TOT projects and identifies the distinctive features of TOT practice in China. This is followed by an introduction of a framework of critical success factors (CSFs) for TOT projects. The most important factors include project profitability, asset quality, fair risk allocation, competitive tendering, internal coordination within government, employment of professional advisors, corporate governance, and government supervision. The identification of CSFs provides a useful guidance to project parties planning to participate in TOT practice.