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Increased political measures to protect the marine environment addresses a shipping industry characterised by strained financial resources, excess supply of capacity and consolidation. In addition, 5-15 per cent of industry participants are believed by shipping experts to neglect rules on vessel-source pollution to stay competitive within their industry and vis-à-vis other transport modes. This study aims to identify and quantify cost effects of maritime environmental legislation, to relate these with company characteristics and to investigate the impact of regulatory compliance.

A mixed-methods design was used to develop both a theoretical model of compliance costs effects and to quantify effect sizes. In total, 12 in-depth exploratory expert interviews were conducted and analysed. A theoretical framework emerged, which was evaluated, strengthened and fed with quantitative data from questionnaire data by 120 shipping companies. Partial least squares analysis was conducted to determine compliance cost effects.

It was found that organisational capacities played a significant role in determining compliance behaviour. Exterior determinants showed no significant correlation with legal compliance. This is a striking result, as it does not support achieving legal compliance with measures of strong enforcement.

European transport policy-making depends on scientifically sound studies on the impact of policy. An in-depth impact assessment on environmental legislation for the maritime industry highlights mechanisms applicable to environmental policy-making in transport and helps in building policy that considers compliance concerns, company characteristics and the interconnectedness of different transport modes for a sound response to the tragedy of the commons.

Originality lies in the inductive development of a comprehensive theory on shipping companies’ legal compliance behaviour and the empirical testing of this theory. Further value is derived from applying a sequential mixed-methods approach to the research problem, showing both the worth and challenge in combining different methodologies to achieve sound research results.

This paper aims to estimate the welfare effects for Ethiopian coffee producers from eliminating coffee price volatility.

To estimate volatility, the generalised autoregressive conditional heteroskedasticity technique is applied to monthly coffee prices in Ethiopia for the period 1976-2012. To distinguish between the unpredictable and predictable components of volatility, we obtain separate estimates of the conditional and unconditional variance of the residual. This is combined with estimates of the coefficient of relative risk aversion to measure the welfare effects from eliminating the unpredictable component of price volatility.

A key finding is that the welfare gain from eliminating coffee price volatility is small; the gain per producer comes to a meagre US$0.76 in a year.

This has important policy implications for the efficacy of price stabilisation mechanisms for coffee producers, i.e. any attempt to eliminate coffee price volatility at a cost may not be a preferred outcome for Ethiopian producers. The contribution of the paper lies in using the unconditional variance, as it more truly reflects price risk faced by coffee producers without overestimating it.

The purpose of this paper is to develop a conceptual framework which combines the strength of weak ties (SWT) concept with an innovative taxonomy for mitigating principal-agent (P-A) conflicts. The taxonomy highlights the mechanisms through which African women can overcome the obstacles faced when setting up businesses.

The paper discusses the role of “weak ties” networks in entrepreneurial activities and integrates the concept with the key parameters of the P-A paradigm. The aim is to develop a taxonomy (or scorecard) for mitigating the challenges faced by women entrepreneurs in Africa from a P-A perspective. Six P-A parameters are analysed, namely, attitudes towards risk; behaviour-based vs targets-based contracts; asymmetric information; risk-sharing; transaction costs; and verification and monitoring costs.

With the aid of the taxonomy developed in the paper, the authors analyse the channels through which “SWT” networks may impact in mitigating the problems arising from the P-A paradigm. Some implications for women entrepreneurs in Africa are highlighted.

The current conceptual study suggests that the “SWT” concept can be used by African women entrepreneurs to mitigate P-A problems. The authors argue that the original P-A taxonomy developed in the paper fills a conceptual research gap in the existing literature. Embedding the SWT concept within a P-A framework will facilitate further research not only to understand African women entrepreneurs’ attitudes (and responses) towards risk and uncertainty, but this will also facilitate greater understanding of the importance women attach to the role of incentives within their businesses.

The taxonomy presents new insights for understanding the most serious constraints that hinder women entrepreneurs in Africa. The taxonomy will be the basis for a follow-up empirical paper on selected African countries.

The originality of this study lies in the development of an innovative taxonomy which highlights the role of “SWT” social networks towards mitigating the P-A problem among African women entrepreneurs. The paper makes a significant contribution to the literature from a conceptual perspective.

Examines the “efficient market” hypothesis for cocoa beans traded on the London Futures and Options Exchange. Futures market efficiency implies that futures prices accurately incorporate all currently known information. Consequently, current futures prices are unbiased forecasts of subsequent cash and/or futures prices and traders cannot earn abnormal returns. The recently developed cointegration theory is utilized to test efficiency in the London Cocoa Market. A problem in testing market efficiency is that the relevant economic data series may be non‐stationary. Under these circumstances, conventional statistical procedures for testing market efficiency are no longer appropriate. The use of a cointegration methodology properly accounts for the non‐stationary properties of futures and spot price series. The price data are monthly data from the London Futures and Options Exchange and they cover the period from 1985‐1991. The evidence presented here does not support the efficient market hypothesis.

In seeking to extend rational choice theory from “market” to “political” behaviour, economists have encountered a paradox: namely, that the act of voting itself appears to be inconsistent with the assumption of rationality. This is true not only when self‐interest is assumed, but also when altruistic behaviour (at least in its non‐Kantian form) is allowed for. This article surveys the theoretical and empirical literature on the determinants of the decision to participate in voting, and concludes that this decision is responsive to changes in the expected benefits and costs of voting; even though the expected costs of voting must normally outweigh the expected benefits. Interpretations of this behaviour include the possibility that voters act rationally, but are misinformed about the likely effectiveness of their votes; alternatively, the electorate may include more Kantians than economists have generally been willing to admit.

Among the many pressing questions of the day that of the establishment of village libraries is most important, for it affects widely the future intellectual life of the rural population. Moreover the moment has undoubtedly arrived when it must be dealt with in a wide and generous spirit, so that all who may be concerned in such a movement—and who is not?—may pull together in inaugurating a system which in coming years may prove not only practical and beneficial, but which may be established on sound and enduring lines, lines which do not run counter to existing organisations, but which gather into one harmonious whole the best traditions and the finest experiences of all those who in the past have fostered the reading habit and dealt with the practical side of the selection, conservation and distribution of books.

THE Annual Conference of the Library Association will soon be upon us, and we understand that the Council of the L.A. is well advanced in the matter of its arrangements. We sincerely hope, however, that it is not too late for us to emphasize the importance of a less crowded programme. There was a multitude of matters dealt with at Cardiff, but the “ time ” bogey was ever en evidence. There can be no practical use for points to be raised obviously inviting discussion, and then for those interested to have no opportunity either to commend, correct or condemn certain statements made. There were many brilliant orations unspoken at Cardiff! Pleasant platitudes are soothing, but we have a recollection of one librarian—and a lady at that—commenting on one address as “offal,” or word to that effect. We want practical papers instead of pleasantries: fewer papers and more opportunity for an exchange of views. Let the Conference be a conference!

The Health Organisation of the League of Nations have issued a Report on the Physiological Bases of Nutrition by the Technical Commission appointed by the Health Committee. The Commission was appointed after a general report on nutrition had been presented by Dr. E. Burnet and Dr. W. R. Aykroyd. Its labours have been conducted in the light of the proposal of Mr. Bruce (Australian delegate), who urged “the necessity of marrying agriculture and public health in the interests of the latter.” The Commission declares that it is in agreement with the conclusions of the Burnet and Aykroyd Report that deficiencies in important nutrients are a common feature of modern diets and that these deficiencies usually occur in the protective foods (foods rich in minerals and vitamins) rather than in the energy‐giving foods (proteins, fats and carbohydrates). An adult, male or female, living an ordinary everyday life in a temperate climate and not engaged in manual work is taken as the basis on which the needs of other age‐groups are reckoned. An allowance of 2,400 calories net per day is considered adequate to meet the requirements of such an individual. The following supplements for muscular activity should be added to the basic requirements in the class mentioned:—Light work: up to 50 calories per hour of work. Moderate work: up to 50–100 calories per hour of work. Hard work: up to 100–200 calories per hour of work. Very hard work: up to 200 calories and upwards per hour of work. Requirements of pregnant women, nursing mothers, and children are dealt with, and it is urged that, in practice, the protein intake for all adults should not fall below 1 gramme of protein per kilogramme of body‐weight. The protein should be derived from different sources, and it is desirable that a part of the protein should be of animal origin. During growth, pregnancy, and lactation some animal protein is essential, and in the growing period it should form a large proportion of the total protein.

The celebrated “Weber thesis” is, in essence, an assertion of causal connections among four terms, namely the “protestant ethic” (PE), the “spirit of capitalism” (SC), “modern western capitalism” (MWC) and the “industrial revolution” (IR), as follows:

The following classified, annotated list of titles is intended to provide reference librarians with a current checklist of new reference books, and is designed to supplement the RSR review column, “Recent Reference Books,” by Frances Neel Cheney. “Reference Books in Print” includes all additional books received prior to the inclusion deadline established for this issue. Appearance in this column does not preclude a later review in RSR. Publishers are urged to send a copy of all new reference books directly to RSR as soon as published, for immediate listing in “Reference Books in Print.” Reference books with imprints older than two years will not be included (with the exception of current reprints or older books newly acquired for distribution by another publisher). The column shall also occasionally include library science or other library related publications of other than a reference character.