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Monetary Terms (monetary + term)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	33%

Selected Abstracts

Should we measure corporate social responsibility?

CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, Issue 1 2003
Dr Jouni Korhonen
This paper is critical towards efforts that try and measure corporate social responsibility (CSR). A critical approach can be important for the development of the theory of the emerging field of corporate social responsibility. A critical and provocative approach can generate discussion and debate. Three main points of critique are presented toward the current efforts in the literature to measure corporate contributions to economic, social and ecological sustainability. First, the use of the concepts of eco-efficiency and eco-efficacy in measuring corporate contributions to sustainability are criticized from the viewpoint of the complementarity relation of human-manufactured capital, natural capital and social sustaining functions. Second, the use of measures that focus on an individual process or an individual company are reconsidered with an approach to industrial and firm networks. Third, the use of the monetary value is reconsidered, e.g. by suggesting an approach based on physical material and energy flows and on a new paradigmatic foundation for social responsibility. The social and ecological indicators illustrating the social and environmental impacts of economic activity and of firms can be combined with economic indicators, but not expressed in monetary terms. Copyright © 2003 John Wiley & Sons, Ltd. and ERP Environment. [source]

Intangible benefits valuation in ERP projects

INFORMATION SYSTEMS JOURNAL, Issue 4 2002
Kenneth E Murphy
Abstract. The development, implementation and ownership of information systems, especially large-scale systems such as enterprise resource planning (ERP), has become progressively longer in duration and more cost intensive. As a result, IS managers are being required to justify projects financially based on their return. Historically, information systems have been difficult to quantify in monetary terms because of the intangible nature of many of the derived benefits, e.g. improved customer service. Using the case study methodology, this paper examines an attempt by a large computer manufacturer to incorporate intangibles into traditional cost,benefit analysis in an ERP project. The paper reviews the importance of intangibles, lists intangible benefits that are important in ERP projects and demonstrates the use of a scheme through which they can be incorporated into traditional evaluation techniques. [source]

Predicting food safety losses in turkey processing and the economic incentives of hazard analysis and critical control point (HACCP) intervention

AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 4 2006
William E. Nganje
Turkey is an important food commodity whose total value of U.S. production amounted to $2.72 billion in 2003. Empirical evidence suggests that among broilers, eggs, turkeys, and chickens, Salmonella contamination of ground turkey is highest at 49.9% prior to hazard analysis and critical control point (HACCP) implementation and 26.6% after HACCP implementation. Salmonella and other microbial outbreaks have greatly contributed to the large number of food recalls in the meat and poultry industry; therefore, processed turkey constitutes a prime commodity for HACCP intervention analysis. Value-at-risk provides a framework for assisting firm management to assess food safety risks in monetary terms, and to evaluate the economic incentives of control measures like HACCP. Results show that food safety losses as measured by downside risk significantly declined following HACCP implementation. Medium- and large-scale turkey processors are more likely to derive more benefit from implementing an augmented HACCP plan than a generic HACCP plan. [EconLit citations: C150, Q180] © 2006 Wiley Periodicals, Inc. Agribusiness 22: 475,489, 2006. [source]

Tropical storm impact in Central America

METEOROLOGICAL APPLICATIONS, Issue 1 2006
Sabino Palmieri
Abstract In this study of tropical storm impacts in Central America, the relationship between physical variables (available in ,real time') and damage is explored, and a simple tool for early approximate evaluation of the impact is developed. Land track and energy dissipation appear as the most interesting parameters that modulate the hurricane impact. Because of the difficulty of attaching a monetary estimate to the damage caused in a large number of cases (as is required in a statistical approach), an ,Impact Index' based on the logarithm of casualties is introduced. Thereafter, within a subset of events in which damage in monetary terms is known, a rough link between damage and the Impact Index is derived. Shortly after a new event, as soon as land track and energy dissipation are known, either by means of an empirical equation or using a contour graph, the Impact Index may be determined. Another empirical equation allows a rough estimate of damage in monetary units, but because this estimate is based on a limited number of cases, it must be treated with caution. The methodology is tested for a small set of independent cases. Vulnerability to tropical cyclones depends not only on natural factors but also on sociopolitical conditions. A coupled sociological and environmental approach is believed to be the best way to improve the early impact estimate methodology. Copyright © 2006 Royal Meteorological Society. [source]

Options-Based Multi-Objective Evaluation of Product Platforms

NAVAL ENGINEERS JOURNAL, Issue 3 2007
JAVIER P. GONZALEZ-ZUGASTI
A platform is the set of elements and interfaces that are common to a family of products. Design teams must choose among feasible platform concepts upon which a product family could be based, often involving new technologies. Multiple performance objectives need to be considered. A standard approach is to convert the performance outcomes into financial figures, which can then be weighed against the required investments. However, it is not always possible to transform performance outcomes (benefits) into monetary terms, such as in defense or highly technical projects. A multi-objective form of real-options-based platform selection is developed. Systems are compared based on multiple technical and economic goals, incorporating uncertainty by representing the unknown factors during the subsequent development process with probability distributions. The range of uncertain outcomes is integrated into single expected measures of effectiveness, which can then be applied to select the most appropriate platform and set of support product variants. An application to the design of platform-based families of naval high-speed ships is shown. [source]

Die Monetarisierung ökologischer Schäden in einer europäischen Haftungsregelung: Anmerkungen zur Schadensbewertung angesichts der Erfahrungen in den USA

PERSPEKTIVEN DER WIRTSCHAFTSPOLITIK, Issue 1 2005
Axel Klaphake
One crucial aspect of the design of the directive is whether the damage should be compensated in monetary terms or based on natural restoration and how the size of the damage should be calculated. The current proposal is mainly based on the US Oil Pollution Act (OPA), which largely abandoned the concept of monetary compensation. Instead, it relies on a resource-based compensation and mainly measures the cost of compensatory restoration. This article discusses whether this is acceptable from an economic point of view or whether monetary valuation should be used to a larger extent. [source]