Business Operations (business + operations)

Distribution by Scientific Domains


Selected Abstracts


The use of economic, social and environmental indicators as a measure of sustainable development in Spain

CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, Issue 2 2006
Isabel Gallego
Abstract In recent years the concept of corporate social responsibility has gained prominence among academics from a wide range of disciplines. According to the Green Paper issued by the Commission of the European Communities in July 2001, corporate social responsibility is defined as a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. The problem is how firms have made known the information on corporate social responsibility. With this in mind, we undertook the present work in an attempt to verify empirically how certain Spanish firms present their economic, social and environmental information, how they use the indicators proposed by the Global Reporting Initiative (GRI) that are accepted in all countries and how this information can affect sustainable development. To perform this study we examined some Spanish firms that present economic, social and environmental information according to the GRI framework. Certain relevant conclusions indicate that in Spain in the last few years there has been an increase and an improvement in the information given by firms on economic, social and environmental concerns and that the information most presented by firms has to do with the social indicators related to labour, practices and decent work, strategy and management, non-discrimination, freedom of association, child labour and forced and compulsory labour as well as the environmental indicators related to energy, water, biodiversity and emissions, effluents and waste. This information reveals the great importance afforded in Spain to social and environmental information for sustainable development. Copyright 2005 John Wiley & Sons, Ltd and ERP Environment. [source]


Competition and Profitability in European Banking: Why Are British Banks So Profitable?

ECONOMIC NOTES, Issue 3 2005
David T. Llewellyn
Substantial differences remain between the profitability of banks in different European countries. This article considers the relationship between competition and profitability in European banking focussing on the experience of the UK where two issues are considered: why British banks have been earning excess returns for more than a decade and why British banks seem to be more profitable than their Continental counterparts. A paradigm is offered to explain this. A distinction is made between shareholder value (SHV) and stakeholder value (STV) banks whose business objectives are often different. Significant differences exist between European countries in the balance of SHV and STV banks. The UK is almost unique in Europe in having almost exclusively SHV-based banks. Pressures will intensify for all European banks to adopt SHV strategies, which will imply substantial changes in bank strategies and business operations. [source]


A Comparison of Reporting Lags of Multinational and Domestic Firms

JOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 1 2008
Ho-Young Lee
This study examines whether multinational firms report earnings sooner than domestic firms. When compared with domestic firms, the reporting environment and business operations of multinational firms are significantly more complex. There is a greater amount of information asymmetry between managers and shareholders of multinational firms. Therefore, multinational firms potentially face higher monitoring and external financing costs. To reduce these costs, we conjecture that managers of multinational firms take steps to reduce the information asymmetry between shareholders and management by increasing the timeliness (a proxy for relevance) of their earnings reports. Specifically, we expect multinational firms to announce earnings earlier than domestic firms. We separate earnings reporting delay into auditor-related delay and management's discretionary delay. While test results weakly support the hypothesis that auditors take longer to audit multinational firms, there is strong evidence that managers of multinational firms release their earnings reports sooner than domestic firms. [source]


1.,The Role of Land Markets in Economic Crises

AMERICAN JOURNAL OF ECONOMICS AND SOCIOLOGY, Issue 4 2009
Mason Gaffney
It is widely recognized that the economic crisis of 2009 was caused by unsound lending for real estate. Largely ignored, however, is that this contraction was easily predicted on the basis of a well-established pattern of land speculation, premature subdivision, and excessive building on marginal land that recurs approximately once every 18 years. Capital locked up in projects that are started during a land bubble is effectively lost during the downturn, leaving the nation without sufficient capital to finance ordinary business operations during the recovery period. The best instrument for avoiding this boom-bust cycle is the property tax and, more specifically, the portion that falls on land. We explore here the ways in which the property tax influences the intensity, timing, and location of development. We also examine why frequent and accurate assessment are essential to make the property tax an effective method of preventing speculative real estate bubbles. [source]


Seeing sustainability in business operations: US and British food retailer experiments with accountability

BUSINESS STRATEGY AND THE ENVIRONMENT, Issue 4 2007
Alastair Iles
Abstract This article compares how food retail industries in Britain and the United States are facing sustainability challenges. The British and US industries are in different stages of maturity in identifying and responding to sustainability. Some UK retailers have begun developing broad-based accountability systems that may aid them to see sustainability in their business operations. By examining what retailers are doing, how accountability systems can inform retailers and the business case for accountability, this article argues that retailers can gain significant business advantages with strategies to improve accountability. Compared with their American counterparts, British retailers may be better placed to deal with sustainability issues in future. Copyright 2005 John Wiley & Sons, Ltd and ERP Environment. [source]