Responding to the EU Emissions Trading Scheme: an empirical analysis of corporate carbon disclosure strategy

The purpose of this paper is to explore how companies that hold carbon trading accounts under European Union Emissions Trading Scheme (EU ETS) respond to the climate change by using disclosures on carbon emissions as a means to generate legitimacy compared to others. The study is based on disclosures made in annual reports and stand-alone sustainability reports of UK listed companies from 2001- 2012. The study uses content analysis to capture both the quality and volume of the carbon disclosures. The results show that there is a significant increase in both the quality and volume of the carbon disclosures after the launch of EU ETS. Companies with carbon trading accounts provide greater detailed disclosures as compared to the others without an account. We also find that company size is positively correlated with the disclosures while the association with the industry produces an inconclusive result.

Do IMF and World Bank programs induce government crises? an empirical analysis

We examine whether and under what circumstances World Bank and International Monetary Fund (IMF) programs affect the likelihood of major government crises. We find that crises are, on average, more likely as a consequence of World Bank programs. We also find that governments face an increasing risk of entering a crisis when they remain under an IMF or World Bank arrangement once the economy's performance improves. The international financial institution's (IFI) scapegoat function thus seems to lose its value when the need for financial support is less urgent. While the probability of a crisis increases when a government turns to the IFIs, programs inherited by preceding governments do not affect the probability of a crisis. This is in line with two interpretations. First, the conclusion of IFI programs can signal the government's incompetence, and second, governments that inherit programs might be less likely to implement program conditions agreed to by their predecessors.

Empirical analysis of the Lieb-Oxford bound in ions and molecules

Universal properties of the Coulomb interaction energy apply to all many-electron systems. Bounds on the exchange-correlation energy, in particular, are important for the construction of improved density functionals. Here we investigate one such universal property-the Lieb-Oxford lower bound-for ionic and molecular systems. In recent work [J Chem Phys 127, 054106 (2007)], we observed that for atoms and electron liquids this bound may be substantially tightened. Calculations for a few ions and molecules suggested the same tendency, but were not conclusive due to the small number of systems considered. Here we extend that analysis to many different families of ions and molecules, and find that for these, too, the bound can be empirically tightened by a similar margin as for atoms and electron liquids. Tightening the Lieb-Oxford bound will have consequences for the performance of various approximate exchange-correlation functionals. (C) 2008 Wiley Periodicals Inc.

The Relationship between Transport Infrastructure and EconomicGrowth: An Empirical Analysis Comparing Developing and DevelopedCountries

Gross domestic product (GDP) is generally considered as the most important index and comprehensive measure of the size of economy. This paper investigates empirically the relationship between transport infrastructure (focus on highways) and GDP growth based on a production function approach. The physical stocks of transport infrastructure were used instead of monetary data to measure public capital together with several other variables (labor and private capital) that were hypothesized to affect economic growth. Then we explore a number of subsequent studies that use panel data covering the period between 1992 and 2004. An investigation was done to compare developed countries and developing countries. Results indicate that physical units are positively and significantly related to economic growth. Furthermore there was an interesting finding that the output elasticity with respect to physical units for developed countries is higher than developing countries.

An empirical analysis of gender differences in sports attendance motives

In Australia, male sports attendees outnumber female sports attendees by 25%, yet little research has been conducted into the attendance motives of women. This study undertakes an analysis of 460 respondents using descriptive and multivariate statistics to distinguish the attendance motivations of women and compare them directly to those of male attendees. The findings suggest that female attendance can be influenced through management and promotional strategies.

Antecedents of recommending infrequently purchased services: a conceptualisation and an empirical analysis

This project aimed to conceptualise and analyse empirically the antecedents of word-of-mouth in the context of an infrequently purchased service (tourism special events). The relationships examined included those between involvement, past experience, overall satisfaction, interest in attending next time, likelihood of attending next time, and the likelihood of recommending to others that they attend the event. There was some support for the overall model, in that the regressing of likelihood of recommending on the other variables produced an equation containing measures of most of the key variables, viz., revisit intention, satisfaction, revisit interest, and involvement. However, involvement appeared to operate in the opposite direction to that hypothesised.

Marketing position taxonomies : an empirical analysis

Despite the continuing need for an empirically validated classification of marketing positions, for theoretical and practical purposes, it appears that no such schema exists. This study contributes to the development of such a taxonomy through an empirical examination of marketing positions. Specifically, the research extends an existing taxonomy by empirically investigating personal selling marketing activities. Based on the taxonomy developed by Darmon (1998), data were collected about the information load, information complexity, and time and relationship management activities of marketers. Various analytical techniques were used to investigate specific features of the instrument and the taxonomy, as well as to provide convergence for the conclusions drawn by the researchers. It was established that sales positions can be more meaningfully identified, and, therefore, better categorised, by six dimensions than by job title or job role. Further, it appears that marketers in the same selling position vary significantly on these dimensions. These findings have important implications for marketing theory, applied research and management. However, future research should refine the instrument used in this study, since some anomalies emerged in the findings, and extend the study by investigating a wider range of marketing positions. Such research may also explore whether the dimensions identified in this study influence the performance and job satisfaction of marketers, and the extent to which marketing managers account for these variations.

The MORTN market orientation instrument - an empirical analysis

This paper focuses on Deshpande and Farley's (1998) MORTN market orientation instrument. Specifically, the paper investigates empirically the factor structure and reliability of the supposedly unidimensional instrument. When the MORTN instrument was tested utilising Australian organisations, a two-dimensional factor structure was found to fit the data more acceptably then the unidimensional structure proposed by Deshpande and Farley. These dimensions may be characterised as being Customer/Market Intelligence (Dimension One) and Customer Service (Dimension Two).

An empirical analysis of attendance factors relating to the female sports market

Although approximately seven million Australians attended sporting events in 2002, male spectators outnumbered female spectators by 25 percent (Australian Bureau of Statistics 2003). This study investigates the reasons for this difference by analysing a survey of 175 female sporting event attendees. The findings show that female attendance motivations are different for different sporting events, for example, football, horse racing and tennis. A number of other factors that were also found to influence attendance amongst the female market are explained and discussed and implications for sports venue managers are presented.

The information content of directors' trades: empirical analysis of the Australian market

We examine the trading activities of directors in shares of their own companies on the Australian Stock Exchange during the July-December 2005 period. We find that directors of small companies in particular earn abnormal return after both their 'Purchase' and as well as their 'Sale' trade. Directors of these companies have an uncanny ability to time the market by trading when mispricing is greatest, and are able to predict the future performance of their firms in short run. For directors of medium and large companies, we find evidence that 'Sale' trades are the ones which work as loss avoiders. Outsiders recognise to some extent that directors' trades are informative, however they are slow to incorporate the new information into prices, refuting much of the market efficiency literature.

Battlefield tourism in Turkey : an empirical analysis of British ex-colonial event attendance

This paper explores the influence of visitor satisfaction on intention to recommend event attendance. The Anzac Day commemoration at Gallipoli, Turkey, an event that has become increasingly popular in recent years and provides the backdrop for the current study. Some 20,000 people travel to attend this event. Data was collected from 331 attendees while they were in transit from Gallipoli to Istanbul on 25 April 2007. The analysis of this data was undertaken using factor analysis as a basis for identifying model constructs to be tested using structural equation modelling. Findings suggest that the constructs relating to the ceremonies held at Anzac Cove and Lone Pine and the experiential and emotional aspects of the event were significant predictors of event satisfaction and subsequent recommending behaviour. The implications of these findings for events in general and the success of the Anzac Day commemorations at Gallipoli are discussed.

Tourism and recreation in natural environments : an empirical analysis of visitor satisfaction

A trend in tourism patterns is the desire by tourists to spend more time enjoying unspoilt, natural environments. Leisure experiences in parks can provide many benefits which include promoting positive emotional, intellectual and social experiences which result in high levels of wellness in communities with long-term benefits. However, the resultant growing number of national park visitors has created a need for effective and efficient decision suppOli tools to assist park managers to administer resources, assess planning decisions, cater for an increased range of users, avoid user conflicts and minimise negative impacts on the environment. The aim of this paper is to determine the extent to which manageable variables predict park visitor satisfaction, and in so doing develop a better understanding of park visitors and their leisure experiences in parks. This study is based on a sample of 11,387 face to face interviews at 34 major parks in Victoria, Australia. The study uses cluster analysis, factor analysis and structural equation modelling to develop a segmentation approach to model and analyse visitor satisfaction. Seven well differentiated segments have been developed; constructs relating to park visitation have also been produced. The study highlights that different combinations of park facilities and resources are important in determining the satisfaction of park visitors from different segments.