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This paper aims to respond to recent calls by Jones (2014) and Jones and Solomon (Accounting, Auditing & Accountability Journal, 2013) for more studies on biodiversity accounting and reporting. In particular, this paper explores biodiversity reporting of the Murray-Darling Basin Authority (MDBA), an Australian public sector enterprise.

The paper uses content analysis of MDBA’s published annual reports over the period of 15 years (1998-2012). Archival data (from different government departments) are also used to prepare natural inventory model.

The paper finds that although specific species, such as flora and fauna, and habitats-related disclosures have increased over the time, such information still allows only a partial construction of an inventory of natural assets, using Jones’ (1996, 2003) model. However, unlike prior studies that find lack of data availability to be the main impediment for operationalising biodiversity accounting, the abundance of biodiversity data in Australia makes it comparatively easier to produce such a statement.

Informed by the environmental stewardship framework, the results of this paper suggest that the disclosures made by MDBA are constrained potentially due to its use of traditional accounting mechanisms of reporting that only allow tradable items to be reported to stakeholders. An alternative reporting format would be more relevant to stakeholder groups who are more interested in information regarding quality and availability of water, and loss of biodiversity in the basin area rather than the financial performance of the MDBA.

Although there are a growing number of studies exploring biodiversity reporting in Australia, this paper is one of the earlier attempts to operationalise biodiversity (particularly habitats, flora and fauna) within the context of an Australian public sector enterprise.

The paper seeks to respond to calls by Jones for more studies exploring the possibility of operationalising accounting for biodiversity.

Archival data are used to produce a natural inventory report for the Sundarbans, the world's largest mangrove forest declared as a World Heritage site by UNESCO in 2007.

The study extends prior research on biodiversity accounting by exploring the applicability of Jones' natural inventory model in the context of Bangladesh. The results indicate that application of Jones' natural inventory model is feasible in the context of developing countries such as Bangladesh. It is also recognised that the socio‐economic and political environment prevailing in developing economies may lead to the emergence of important stakeholder groups including local civil society bodies, international donor agencies and foreign governments. Biodiversity accounting may provide a legitimate basis for the government in allaying concerns regarding environmental stewardship and assist in negotiations with powerful stakeholder groups on important issues such as financial assistance after natural disasters and claims to the global climate change fund.

This is one of the early attempts to operationalise biodiversity accounting in the context of a developing economy.

This study aims to analyze access of cotton growers to Sustainable Livelihoods Assets Pakistani Punjab.

This study uses the department for international development (DFID’s) sustainable livelihoods framework (DFID) (1999). Where data collection was done by using a well-structured questionnaire from 200 randomly selected cotton growers of the district Muzaffargarh. There are five livelihood assets (human assets, natural assets, financial assets, physical assets and social assets) in the SLF, this study has used three different indicators/proxies for each asset except natural assets, where four indicators were used to capture the salient features of the respondents’ access to that assets. Each indicator was given a weight by using the entropy technique to keep the consistency of the quantification. Livelihood assets indices were calculated in case of each livelihood asset for conducting Livelihood Assets Pentagon Analysis. Value of livelihood index ranged from 0–4.

Livelihoods Assets Pentagon analysis shows that cotton growers do not have proper access to all five livelihood assets. The asset with the highest capacity were social assets (sustainable livelihood index value = 0.3994), followed by natural assets (0.3294), financial assets (0.2511), human assets (0.2143) and physical assets (0.0897).

This study uses the SLF developed by DFID for analyzing factors affecting access to livelihoods assets of cotton growers in Pakistani Punjab. Sustainable agriculture and sustainable rural livelihoods lead to sustainable livelihoods where environment quality is taken into consideration. The study contains significant and new information.

To analyze more deeply and in a systemic perspective food system outcomes, and the contribution that small farming can give to the achievement of those outcomes, a detailed analysis of food systems is required, which highlights its components, activities and dynamics. Thus, this chapter deepens the analysis of the food system. We first reflect on the complexity of the concept of food system, discussing the abundance of different conceptualizations proposed in the scientific and political debate on the base of different disciplines and perspectives. Then, a comprehensive representation is shown, which is then unpacked. The food system actors, assets and functions are explored, with an eye on power relations among actors and on the main drivers of change. Governance (that also includes actors external to the food systems) is called ‘reflexive’, as long as it characterizes a system that is able to reflect upon the conditions and the forms of its own functioning, to detect and analyze threats and to change accordingly, with the involvement of actors external to the food systems. This analysis, which represents the focus of this section, provides the base for the description of the food system vulnerability developed in Chapter 4. Drivers of change and governance emerge as key categories to consider.

This study aims to reconstruct how smallholder farmers implement livelihood adaptation strategies to survive and escape poverty, thereby mitigating or eliminating potential livelihood risks by utilizing their available assets.

This research employed a qualitative approach. For the collection of primary data, the researcher conducted observations and in-depth interviews and engaged with the lives of smallholder farmers during the data collection period.

Among the various livelihood adaptation strategies, only migration and profit-sharing strategies enable smallholder farmers to escape poverty. However, migration is an unsustainable adaptation strategy. When farmers move to new locations, they often resort to slash-and-burn methods for clearing land, which can lead to forest degradation and deforestation. Profit sharing is a sustainable livelihood adaptation strategy that falls into a different category. This approach can lift farmers out of poverty, increase their income and have no negative environmental impact. Other adaptation strategies include adjustments to traditional agriculture, both on and off-farm diversification, involving the family in income generation, reducing farming costs, practicing frugality in post-harvest processes, converting land from coffee cultivation to other crops and borrowing money and selling owned assets. Smallholder farmers implement these strategies to survive the existing economic conditions.

The profit-sharing strategy was a novel livelihood adaptation approach that previous studies had yet to uncover at the research site. In this strategy, farmers assume the roles of both managers and laborers simultaneously during farming, while toke (the capital owners) play the role of farming funders. The generated profit is then shared between farmers and toke based on the agreement established at the outset of their collaboration.

The Ethiopian government is promoting large-scale agricultural investment in lowland regions of the country, claiming that the investment could improve livelihoods of the local people. The outcomes of the investment, however, have been a controversial issue in public and academic discourses. Particularly, studies that quantify the impact of such investment on the asset base of local people are extremely limited. The main purpose of this study is, therefore, to investigate the actual effect of the investment on the asset of the local people and inform policy decision.

This study employs a quasi-experimental research design and a mixed research approach. Data were collected from 342 households drawn through a systematic sampling technique and analysed by using multiple correspondence analysis and propensity score matching.

The study finds that the investment has a significant negative impact on the wealth status of affected households and deteriorated their asset base.

The results imply that inclusive and fair business models that safeguard the benefits of the investment hosting community and encourage a strong collaboration and synergy between the community and private investors are needed.

This study analyses the impact of large-scale agricultural investment on the asset of affected community based on various livelihood capital. In doing so, it significantly contributes to knowledge gap in the empirical literature. It also contributes to the ongoing academic and policy debates based on actual evidence collected from local community.

Recognition, measurement and disclosure of public sector assets constitute relevant matters for national and international public sector accounting standard-setting. This chapter develops a theoretical analysis drawing upon a dualistic approach contrasting current value and historical cost accounting models. Accordingly, the latter should be adapted and then preferred to cope with public sector specificities, with a view to providing information for and enforcing accountability to citizens and their political representatives. Drawing upon this theoretical setting, our analysis develops a consistent design for the overarching conceptual framework for assets in general, providing illustrative examples for specific categories such as financial, heritage, natural and military assets.

The purpose of this paper is to introduce a new theoretical framework called the “extended dual economy model”. Based on the seminal work of Lewis (2014), the author uses it to explain the sectoral specialisation of home countries and their firms and MNEs.

The paper is multi-disciplinary and entirely conceptual, with cool ideas but very few numbers and equations.

Emerging economies exhibit a “duality” in their economic structure that reflects itself in two largely different sets of location (L) characteristics. They are simultaneously home to both “traditional” sectors, which are resource and labour intensive, as well as “modern” sectors, which are knowledge and capital intensive, each of which can be analysed as having two sub-economies. These different sets of location advantages shape the firm-specific advantages of EMNEs and their FDI.

This analysis helps to underline what shapes the ability of home countries to “emerge”, and the ability of their firms to grow and their MNEs to become internationally competitive. Few EMNEs can thrive in international markets without concurrent growth in their domestic markets. Maintaining the appropriate location assets to optimally support both types of sectors is costly. Each type of sub-economy requires different kinds of support sectors, infrastructure and policies, with little overlap. Weaknesses in its home country L advantages hinder the long-term competitiveness of their EMNEs.

Few EMNEs can thrive in international markets without concurrent growth in their domestic markets. Weaknesses in its home country L advantages hinder the long-term competitiveness of their EMNEs.

The extension of the Lewisian dual economy model allows a number of interesting new insights because it allows us to consider firms, non-firms, informality and the bottlenecks associated with promoting knowledge-intensive sectors in a globalised world. It emphasises structural change, and the need to manage pathways and effectively channel growth.

To maximize society's welfare, economists should be concerned with the efficient use of the stock of natural resources. The stock of natural resources is a gift of nature. The usefulness of this stock comes from its alternative uses, e.g. existence, exploitation and bequest. Therefore, the maintenance of this stock should be part and parcel of economic policymaking, particularly in less developed countries. Otherwise, the latter countries will face scarcity of wealth induced by decline of their environment.

Purpose – Study the investment and risk management approach of sovereign wealth funds when national wealth including natural resources is accounted for rather than only financial asset.

Methodology/Approach – Using a range of widely used asset classes, we simulate sovereign wealth fund returns when considering only financial assets but also under varying levels of national wealth holdings in oil. We optimize two-asset financial portfolios and three-asset portfolios when including oil to maximize the risk-adjusted returns.

Findings – Sovereign wealth funds by failing to invest for the national wealth portfolio are overlooking a major source of volatility. To reduce the level of volatility associated with yearly national wealth returns, allocating a higher percentage of fixed assets to high-quality fixed income and low-risk equities will maximize the risk-adjusted returns of national wealth for sovereign wealth fund states.

Social implications – By focusing solely on the financial assets managed by sovereign wealth funds, states are exposing themselves to significant national wealth risk.

Originality/Value of the paper – This is the first work to estimate the impact on national wealth of oil-dependent states by failing to account for volatile commodity prices through the investment strategies of sovereign wealth funds.