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Book part
Publication date: 18 March 2014

Kevin W. Caves and Hal J. Singer

In antitrust class-action litigation, courts are increasingly unlikely to accept the presumption that all class members were harmed by price-fixing among a group of firms…

Abstract

In antitrust class-action litigation, courts are increasingly unlikely to accept the presumption that all class members were harmed by price-fixing among a group of firms or by exclusionary behavior by a single firm. Econometric methods typically applied in antitrust and other settings estimate the average effect of the challenged conduct, but do not inform impact for individual class members. We present classwide econometric methods and statistical tests for detecting the existence (or lack thereof) of common impact and determining what proportion (if any) of the proposed class suffered injury in many class actions. We conclude that econometric tools can meaningfully inform the legal process, even when courts demand proof of common impact.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

Keywords

Book part
Publication date: 18 March 2014

Michael D. Hausfeld, Gordon C. Rausser, Gareth J. Macartney, Michael P. Lehmann and Sathya S. Gosselin

In class action antitrust litigation, the standards for acceptable economic analysis at class certification have continued to evolve. The most recent event in this…

Abstract

In class action antitrust litigation, the standards for acceptable economic analysis at class certification have continued to evolve. The most recent event in this evolution is the United States Supreme Court’s decision in Comcast Corp. v. Behrend, 133 S. Ct. 1435 (2013). The evolution of pre-Comcast law on this topic is presented, the Comcast decision is thoroughly assessed, as are the standards for developing reliable economic analysis. This article explains how economic evidence of both antitrust liability and damages ought to be developed in light of the teachings of Comcast, and how liability evidence can be used by economists to support a finding of common impact for certification purposes. In addition, the article addresses how statistical techniques such as averaging, price-dispersion analysis, and multiple regressions have and should be employed to establish common proof of damages.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

Keywords

Book part
Publication date: 18 March 2014

James Keyte, Paul Eckles and Karen Lent

In 2009, the Third Circuit decided Hydrogen Peroxide, which announced a more rigorous standard under Federal Rule of Civil Procedure 23(b)(3) for assessing whether a…

Abstract

In 2009, the Third Circuit decided Hydrogen Peroxide, which announced a more rigorous standard under Federal Rule of Civil Procedure 23(b)(3) for assessing whether a putative class could establish antitrust injury. Earlier this year, the Supreme Court decided Comcast v. Behrend, a case that carries potentially broad implications for both antitrust cases and Rule 23(b)(3) class actions generally. A review of the case law starting with Hydrogen Peroxide and continuing through Comcast and its progeny reveals the new rigor in antitrust class action decisions and suggests what the future may hold, including the type of arguments that may provide defendants the most likely chance of defeating class certification. After Comcast, rigor under 23(b)(3) can no longer be avoided in assessing all class actions questions, and courts should now apply Daubert fully in the class setting concerning both impact and damages. Courts should also closely evaluate plaintiffs’ proposed methodologies for proving impact to determine if they apply to each class member. Finally, courts will inevitably have to determine how rigorously to scrutinize experts’ damages methodologies and whether Comcast requires or suggests more scrutiny in assessing common evidence for measuring damages.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

Keywords

Article
Publication date: 17 June 2011

Walid Hejazi and Juan Ma

The purpose of this paper is to test the merits of the view that the English language has emerged as the dominant language in international business. If there is merit to…

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Abstract

Purpose

The purpose of this paper is to test the merits of the view that the English language has emerged as the dominant language in international business. If there is merit to this view, then the ability to speak English and its role as a lingua franca in the global economy would imply that countries which have English as an official language should have a benefit over non‐English‐speaking countries vis‐à‐vis their abilities to undertake international business.

Design/methodology/approach

Within an augmented gravity model framework, the importance of the English language in explaining bilateral foreign direct investment (FDI) data within the OECD is tested. In addition to English, all other common official languages within the OECD are also tested. Furthermore, the linguistic distance to English is used to test whether closeness of languages to English enhance international business activity.

Findings

The results indicate that English‐speaking countries within the OECD do have a benefit that comes with the English language. Furthermore, countries whose official languages are linguistically close to English benefit from the special role played by the English language. These results therefore highlight the importance of the English language in deploying multinational strategies, even in countries whose official language is not English.

Research limitations/implications

These results therefore indicate the importance of the English language in international business. As such, having a proficiency with English within any corporation should enhance that corporation's ability to engage in international business.

Originality/value

Sharing a common language with FDI partners enhances the ability to communicate, and hence enhances FDI between the countries. This paper extends this evidence to show that when the common language is English, the common language effect is strongest.

Details

Multinational Business Review, vol. 19 no. 2
Type: Research Article
ISSN: 1525-383X

Keywords

Article
Publication date: 7 January 2021

Susana Alves Pereira, Nuno Rebelo dos Santos, Leonor Pais and Salvatore Zappalà

This paper aims to describe and characterise the actions carried out by Italian organisations participating in the Economy for the Common Good (ECG) movement and to…

Abstract

Purpose

This paper aims to describe and characterise the actions carried out by Italian organisations participating in the Economy for the Common Good (ECG) movement and to analyse these actions through the lens of decent work (DW), identifying patterns leading to a typology and conceptual propositions on the subject.

Design/methodology/approach

A documentary analysis was conducted on 14 reports describing the actions taken by Italian organisations that belong to the ECG movement. Qualitative content analysis was performed using QSR-NVivo12. The descriptive analysis of the codes was made, as well as a cluster analysis based on coding similarity.

Findings

A total of 1,497 actions were coded, and four clusters, grouping sets of the common good reports, were identified. Results suggest that Customers, Business Partners and Staff and Owners are the most addressed stakeholders, human dignity and environmental sustainability are the most addressed values and Fulfilling and Productive Work and Fundamental Principles and Values at Work are the most addressed DW dimensions. Additionally, all clusters are intensive in environmental concerns but have differentiated priorities. Cluster analysis suggests three drivers: recognition, core business closeness and social common good impact. A total of five conceptual propositions are being made useable by organisational leaders who intend to adhere to the ECG movement.

Research limitations/implications

The main limitation is the low number of organisations participating in the ECG movement in Italy, which restricts the scope of the conclusions.

Practical implications

The results are helpful as inputs for designing interventions in organisations that intend to start or strengthen their involvement in the ECG movement.

Originality/value

Identifying DW aspects related to common good indicators and the four approaches to the ECG adhesion corresponding to the four clusters.

Details

Qualitative Research in Organizations and Management: An International Journal, vol. 16 no. 1
Type: Research Article
ISSN: 1746-5648

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Article
Publication date: 16 July 2021

Williams Ezinwa Nwagwu and Margaret Molaodi Matobako

This study was aimed to examine emerging knowledge commons in the public libraries in the Thabo Mofutsanyane District in Free State, South Africa.

Abstract

Purpose

This study was aimed to examine emerging knowledge commons in the public libraries in the Thabo Mofutsanyane District in Free State, South Africa.

Design/methodology/approach

A triangulated sample survey was adopted to collect data from the users of the commons using a questionnaire, and data of community member and the library officers were collected using an interview schedule. The study was guided by Hess and Ostrom's Institutional Analysis and Development framework.

Findings

The librarians and the commons users recognise the changing nature, roles and services of the libraries without necessarily attributing the changes to the emergence of knowledge commons. Users viewed the commons by the learning opportunities offered by information and communication technologies. They were, however, willing to contribute their resources to boost and enrich the commons; their contributions presently take the forms of volunteering of their knowledge and skill through offering of training sessions to users of the commons. A critical aspect of the commons, namely, participation in the governance and management of the commons resources appears not to be occurring.

Practical implications

To adequately build knowledge commons in the libraries will require formally introducing knowledge commons in the libraries, doing a systems analysis, deciding on the content and their sources, drawing up a programme for nurturing the system including training of relevant staff and then providing basic infrastructures.

Originality/value

This study used quantitative approach to deploy the institutional analysis development Institutional Analysis and Development framework in the study of public library institution. Studies on knowledge commons in public libraries have not been found.

Details

Library Hi Tech, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-8831

Keywords

Open Access
Article
Publication date: 3 February 2021

Marc Zebisch, Stefan Schneiderbauer, Kerstin Fritzsche, Philip Bubeck, Stefan Kienberger, Walter Kahlenborn, Susanne Schwan and Till Below

This paper aims to present the “Vulnerability Sourcebook” methodology, a standardised framework for the assessment of climate vulnerability and risk in the context of…

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Abstract

Purpose

This paper aims to present the “Vulnerability Sourcebook” methodology, a standardised framework for the assessment of climate vulnerability and risk in the context of adaptation planning. The Vulnerability Sourcebook has been developed for the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and has been applied in more than twenty countries worldwide.

Design/methodology/approach

It is based on a participative development of so-called climate impact chains, which are an analytical concept to better understand, systemise and prioritise the climate factors as well as environmental and socio-economic factors that drive climate related threats, vulnerabilities and risks in a specific system. Impact chains serve as the backbone for an operational climate vulnerability assessment with indicators based on quantitative approaches (data, models) combined with expert assessments. In this paper, the authors present the concept and applications of the original Vulnerability Sourcebook, published in 2015, which was based on the IPCC AR4 concept of climate vulnerability. In Section 6 of this paper, the authors report how this concept has been adapted to the current IPCC AR5 concept of climate risks.

Findings

The application of the Sourcebook is demonstrated in three case studies in Bolivia, Pakistan and Burundi. The results indicate that particularly the participative development of impact chains helped with generating a common picture on climate vulnerabilities and commitment for adaptation planning within a region. The mixed methods approach (considering quantitative and qualitative information) allows for a flexible application in different contexts. Challenges are mainly the availability of climate (change) and socio-economic data, as well as the transparency of value-based decisions in the process.

Originality/value

The Vulnerability Sourcebook offers a standardised framework for the assessment of climate vulnerability and risk in the context of adaptation planning.

Details

International Journal of Climate Change Strategies and Management, vol. 13 no. 1
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 7 March 2016

Philip Xie and Andy Sinwald

The purpose of this paper is to focus on: first, what major impacts do organizers perceive special events to create, and how do they measure an event’s success? second, do…

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Abstract

Purpose

The purpose of this paper is to focus on: first, what major impacts do organizers perceive special events to create, and how do they measure an event’s success? second, do these perceived impacts align with the major themes of economic benefits, social impacts, and community cohesiveness revealed in the existing literature? and third, why do event organizers perceive these major impacts?

Design/methodology/approach

In order to gain a better understanding of the types of community impact event organizers anticipate from, and attempt to solicit through special events, this study makes use of a survey with open-ended questions. Such questions enable a broader discussion between interviewees and interviewers, giving interviewees greater response leeway and generating more material for the researcher’s analysis.

Findings

Findings suggest that bringing the community together, producing economic benefits for local businesses, and creating socializing and educational opportunities for visitors are the primary impacts anticipated by interviewed event organizers. In particular, providing a positive experience by getting the community involved proves to be the key element to the success of any special event discussed.

Research limitations/implications

There are a couple of limitations to the study. First, the study presented a relatively small sample. Second, these results may relate to the institutions located along Lake Erie where parks and recreation have long been viewed as an integral part of community life.

Originality/value

This study represents a first attempt to complement the quantitative data in the former research with a qualitative study. Through in-depth interviews, it sets out to create a dialogue from the event organizers along Lake Erie in the USA to help better understand the impacts of special events prepared by Parks and Recreation Departments.

Details

International Journal of Event and Festival Management, vol. 7 no. 1
Type: Research Article
ISSN: 1758-2954

Keywords

Article
Publication date: 12 July 2021

Fara Azmat, Ameeta Jain and Fabienne Michaux

This paper aims to focus on impact integrity in investment decision-making – an under-researched yet important topic – as a means for optimising investor contributions to…

Abstract

Purpose

This paper aims to focus on impact integrity in investment decision-making – an under-researched yet important topic – as a means for optimising investor contributions to sustainable development outcomes, including achieving the sustainable development goals (SDGs).

Design/methodology/approach

This conceptual paper adopts a two-step approach. First, this paper reviews existing “responsible” investment strategies and products used in practice and highlight their shortcomings in terms of optimising sustainable development outcomes. Second, drawing from the minimal standards theory, this study explores how emerging impact management practices may strengthen impact integrity in investment decision-making and mitigate shortcomings in existing “responsible” investment approaches to increase their contribution to sustainable development outcomes.

Findings

Current “responsible” investment approaches often do not optimise sustainable development outcomes and may facilitate “impact washing”. The theoretically grounded framework demonstrates standardised impact management practices based on a bounded flexibility approach – adaptable to different contexts within limits and assessed by skilled analysts – along with incorporating shared language and conventions supported by appropriate accountability mechanisms that can be used to mitigate shortcomings in current “responsible” investment approaches. The authors further propose accountability mechanisms to systematically involve stakeholders (including rightsholders) in decisions that impact them with effective grievance and reparation mechanisms. Such an approach, the authors argue will strengthen impact integrity and the capacity of investments to optimise contributions to sustainable development outcomes.

Practical implications

The findings have implications for the ability of investment markets to optimise their contributions to sustainable development and the SDGs.

Social implications

By highlighting shortcomings in current “responsible” investment approaches and focussing on strengthening impact integrity in investment decision-making through standardised impact management practices, the findings enhance the capacity of investment markets to contribute positively to sustainable development and the SDGs.

Originality/value

Despite its importance, impact integrity in investment decision-making is severely under-researched with little academic attention. This paper fills this void.

Details

Sustainability Accounting, Management and Policy Journal, vol. 13 no. 1
Type: Research Article
ISSN: 2040-8021

Keywords

Book part
Publication date: 18 January 2022

Gareth Anderson and Mehdi Raissi

Productivity growth in Italy has been persistently anemic and lagged that of the euro area over the period 1999–2015, while the indebtedness of its corporate sector…

Abstract

Productivity growth in Italy has been persistently anemic and lagged that of the euro area over the period 1999–2015, while the indebtedness of its corporate sector increased. Using the ORBIS firm-level database, this chapter studies the long-term impact of persistent corporate-debt accumulation on the productivity growth of Italian firms, and investigates whether total factor productivity (TFP) growth varies with the level of corporate indebtedness. The authors employ a novel estimation technique proposed by Chudik, Mohaddes, Pesaran, & Raissi (2017) to account for dynamics, bi-directional feedback effects, cross-firm heterogeneity, and cross-sectional dependence arising from unobserved common factors (e.g., oil price shocks, labor and product market frictions, and the stance of the global financial cycle). Filtering out the effects of unobserved common factors and controlling for firm-specific characteristics, the authors find significant negative effects of persistent corporate-debt build-up on firms’ TFP growth on average, and weak evidence of a threshold level of corporate debt, beyond which productivity growth drops off significantly. The results have strong policy implications, for example the design of the tax system should discourage persistent corporate-debt accumulation, and effective and timely frameworks to reduce corporate-debt overhangs are essential.

Details

Essays in Honor of M. Hashem Pesaran: Panel Modeling, Micro Applications, and Econometric Methodology
Type: Book
ISBN: 978-1-80262-065-8

Keywords

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