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External Benefits (external + benefit)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	83%

Selected Abstracts

ISO 14001 EMS standard registration decisions among Canadian organizations

AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 4 2003
Emmanuel K. Yiridoe
This study characterized the costs and benefits associated with adopting ISO 14001 environmental management system (EMS) standard, based on a survey of ISO 14001-registered organizations in Canada. Decision makers are contemplating whether it is necessary to register to one or more of the ISO and other international standards and, if so, which ones. Furthermore, an organization that has registered separate departments to different standards and contemplates integrating such standards across the different units may be interested in attributes of particular units that will facilitate integration. Discriminant analysis was conducted to characterize the factors that distinguish between organizations that adopted ISO 14001 alone (single standard), versus those that registered to ISO 14001 along with other quality, health, and safety standards (i.e., multiple standards). The most important factor that motivated adoption to ISO 14001 was to establish a positive environmental profile, thereby promoting goodwill and integrity. Internal factors tended to dominate the motivations for adopting ISO 14001, supporting the hypothesis that external benefits may not be fully realized due to market and policy failure. Internal costs associated with registration depended on the size of the organization and ranged, on average, from CND$17,000 (for organizations with less than 100 employees), to CND$42,000 (for organizations with more than 500 employees). External costs depended more on the type (i.e., sector of the Canadian economy) than on size of the organization. The most important variable that distinguished between Canadian organizations that adopted ISO 14001 alone versus those that adopted ISO 14001 and other standards was whether the organization had an international orientation, that is, those with more than 50% of services or exports to other countries. [EconLit citations: L150, L200, Q290]. © 2003 Wiley Periodicals, Inc. Agribusiness 19: 439,457, 2003. [source]

Benefits and costs of transport Classification, methodologies and policies

PAPERS IN REGIONAL SCIENCE, Issue 2 2001
T.R. Lakshmanan
Transport; benefits; costs; evaluation Abstract. This article aims to bring together insights from a broad body of recent literature concerned with the nature, the measurement and policy implications of benefits and costs of transport. It is argued that, for various reasons, transport cannot be treated as an,ordinary'economic sector, and the policy implications of a number of the sector's peculiarities are addressed. Explicit attention is given to spatial aspects and network elements, internal and external benefits and costs, and efficiency aspects and equity considerations in policy making. [source]

Parking Externalities in Commercial Real Estate

REAL ESTATE ECONOMICS, Issue 2 2010
Bowman Cutter IV
Local governments have employed a variety of strategies to reduce street congestion through an increase in parking supply. These policies have been criticized as an implicit subsidy that shifts costs from drivers to the public at large. Others have noted that parking lots and structures can lead to increased water and air pollution. However, there has not been an examination of whether parking, presumably by reducing congestion, generates external benefits. We measure whether nearby parking availability influences commercial property prices after controlling for property characteristics, including on-site parking. We find that publicly accessible parking, such as commercial parking garages, generates significant aggregate externalities. We also find evidence of a significant complementary relationship between building and parking area in property values. This suggests that parking regulation could have a significant impact on property development through its effect on the value of the marginal square foot of building area. [source]

Short Sellers and Financial Misconduct

THE JOURNAL OF FINANCE, Issue 5 2010
JONATHAN M. KARPOFF
ABSTRACT We examine whether short sellers detect firms that misrepresent their financial statements, and whether their trading conveys external costs or benefits to other investors. Abnormal short interest increases steadily in the 19 months before the misrepresentation is publicly revealed, particularly when the misconduct is severe. Short selling is associated with a faster time-to-discovery, and it dampens the share price inflation that occurs when firms misstate their earnings. These results indicate that short sellers anticipate the eventual discovery and severity of financial misconduct. They also convey external benefits, helping to uncover misconduct and keeping prices closer to fundamental values. [source]

Policy Framework for Transition to a Low-Carbon World Economy

ASIAN ECONOMIC POLICY REVIEW, Issue 1 2010
Ross GARNAUT
Q5; F5 Climate change mitigation policy is the most difficult to come before our polity in living memory. There can be no solution without international agreement involving all substantial economies, and yet each country has an incentive to free ride on others. The international agreement must have five parts: agreement on the objective in terms of concentrations of greenhouse gases in the atmosphere, agreement on allocation of an emissions entitlements budget among countries, agreement on rules for international trade in entitlements, agreement on developed countries taking the lead on development of low-emissions technologies, and agreement on assistance from developed countries for climate change mitigation in developing countries. Two sources of market failure must be corrected to achieve emissions reduction targets efficiently: the external costs of emitting greenhouse gases and the external benefits of private investment in innovation in relation to low-emissions technologies. [source]

Should Education be Publicly Provided?

BULLETIN OF ECONOMIC RESEARCH, Issue 4 2002
Philip A Trostel
This study suggests that a subsidy in the form of public provision has the potential to be the most efficient educational policy because it stimulates investment in human capital, which would otherwise be inefficiently low because of distortionary income taxation and possible external benefits. Moreover, it can potentially do this without grossly distorting the mix of investments in human capital. Other policies do not have the potential to achieve both these ends without introducing additional, perhaps overwhelming, problems. Thus public provision of education appears to provide incentives for human capital accumulation which are more efficient than any other feasible policy. [source]