scholarly journals Integrated market and nonmarket strategies: Empirical evidence from the S&P 500 firms’ climate strategies

2022 ◽  
pp. 1-22
Author(s):  
Younsung Kim

Abstract Firms with well-formulated competitive market strategies could still fail due to their lack of effective nonmarket strategy. Climate change poses significant threats to firms and presents firms’ need to develop nonmarket strategy integrated with market strategy. Relying on the unique dataset of US S&P 500 firms’ responses to climate change, this study seeks to ask why some firms attempt to engage in climate policy making, while others do not do so. The results found that firms with organizational resources and capabilities underlying their carbon market strategy are more likely to support mandatory climate policy. It sheds light on the significance of integrated market and nonmarket strategies, particularly when business opportunities are controlled more by governments than by markets.

2020 ◽  
Vol 25 (1) ◽  
pp. 84-104
Author(s):  
John H. Humphreys ◽  
Dragan Loncar ◽  
Guclu Atinc ◽  
Mario Hayek ◽  
Milorad M. Novicevic

In the extant literature, transition economies are sporadically addressed under the moniker of emerging economies and often only through calls for more contextualized research. Moreover, not all transition economies are emerging, as attempts at rapid transformation have resulted in economic deterioration as well. Yet, we lack models that approach the coordination of market and nonmarket strategies in contexts experiencing ongoing economic malaise. Accordingly, we examined the institutional and market strategies of Frikom, a regional ice cream producer profiting in the demoralized transition economy of Serbia, to identify antecedents to socio-cultural demoralization, elaborate a reconstructed view of nonmarket strategy in a demoralized transition economy, and conceptualize an integrated alignment model for firms competing in demoralized transitional economic environments.


Author(s):  
Veronika Jadczaková

Academists and practitioners have already acknowledged the importance of unobservable segmentation bases (such as psychographics) yet still focusing on how well these bases are capable of describing relevant segments (the identifiability criterion) rather than on how precisely these segments can predict (the predictability criterion). Therefore, this paper intends to add a debate to this topic by exploring whether culture-based segments do account for a selection of market strategy. To do so, a set of market strategy variables over a sample of 251 manufacturing firms was first regressed on a set of 19 cultural variables using canonical correlation analysis. Having found significant relationship in the first canonical function, it was further examined by means of correspondence analysis which cultural segments – if any – are linked to which market strategies. However, as correspondence analysis failed to find a significant relationship, it may be concluded that business culture might relate to the adoption of market strategy but not to the cultural groupings presented in the paper.


Author(s):  
Jérémie Gilbert

This chapter focuses on the connection between the international legal framework governing the conservation of natural resources and human rights law. The objective is to examine the potential synergies between international environmental law and human rights when it comes to the protection of natural resources. To do so, it concentrates on three main areas of potential convergence. It first focuses on the pollution of natural resources and analyses how human rights law offers a potential platform to seek remedies for the victims of pollution. It next concentrates on the conservation of natural resources, particularly on the interconnection between protected areas, biodiversity, and human rights law. Finally, it examines the relationship between climate change and human rights law, focusing on the role that human rights law can play in the development of the current climate change adaptation and mitigation frameworks.


Author(s):  
Eugen Pissarskoi

How can we reasonably justify a climate policy goal if we accept that only possible consequences from climate change are known? Precautionary principles seem to offer promising guidelines for reasoning in such epistemic situations. This chapter presents two versions of the precautionary principle (PP) and defends one of them as morally justifiable. However, it argues that current versions of the PP do not allow discrimination between relevant climate change policies. Therefore, the chapter develops a further version of the PP, the Controllability Precautionary Principle (CPP), and defends its moral plausibility. The CPP incorporates the following idea: in a situation when the possible outcomes of the available actions cannot be ranked with regard to their value, the choice between available options for action should rest on the comparison of how well decision makers can control the processes of the implementation of the available strategies.


2021 ◽  
Vol 26 (3) ◽  
pp. 205-210
Author(s):  
Simone Borghesi

AbstractThe present article describes the main insights deriving from the papers collected in this special issue which jointly provide a ‘room with a view’ on some of the most relevant issues in climate policy such as: the role of uncertainty, the distributional implications of climate change, the drivers and applications of decarbonizing innovation, the role of emissions trading and its interactions with companion policies. While looking at different issues and from different angles, all papers share a similar attention to policy aspects and implications, especially in developing countries. This is particularly important to evaluate whether and to what extent the climate policies adopted thus far in developed countries can be replicated in emerging economies.


2014 ◽  
Vol 122 (3) ◽  
pp. 401-414 ◽  
Author(s):  
Elmar Kriegler ◽  
Jae Edmonds ◽  
Stéphane Hallegatte ◽  
Kristie L. Ebi ◽  
Tom Kram ◽  
...  

Author(s):  
JAMIE DRAPER

Social scientific evidence suggests that labor migration can increase resilience to climate change. For that reason, some have recently advocated using labor migration policy as a tool for climate adaptation. This paper engages with the normative question of whether, and under what conditions, states may permissibly use labor migration policy as a tool for climate adaptation. I argue that states may use labor migration policy as a tool for climate adaptation and may even have a duty to do so, subject to two moral constraints. First, states must also provide acceptable alternative options for adaptation so that the vulnerable are not forced to sacrifice their morally important interests in being able to remain where they are. Second, states may not impose restrictive terms on labor migrants to make accepting greater numbers less costly for themselves because doing so unfairly shifts the costs of adaptation onto the most vulnerable.


Author(s):  
Jennifer L. Castle ◽  
David F. Hendry

Shared features of economic and climate time series imply that tools for empirically modeling nonstationary economic outcomes are also appropriate for studying many aspects of observational climate-change data. Greenhouse gas emissions, such as carbon dioxide, nitrous oxide, and methane, are a major cause of climate change as they cumulate in the atmosphere and reradiate the sun’s energy. As these emissions are currently mainly due to economic activity, economic and climate time series have commonalities, including considerable inertia, stochastic trends, and distributional shifts, and hence the same econometric modeling approaches can be applied to analyze both phenomena. Moreover, both disciplines lack complete knowledge of their respective data-generating processes (DGPs), so model search retaining viable theory but allowing for shifting distributions is important. Reliable modeling of both climate and economic-related time series requires finding an unknown DGP (or close approximation thereto) to represent multivariate evolving processes subject to abrupt shifts. Consequently, to ensure that DGP is nested within a much larger set of candidate determinants, model formulations to search over should comprise all potentially relevant variables, their dynamics, indicators for perturbing outliers, shifts, trend breaks, and nonlinear functions, while retaining well-established theoretical insights. Econometric modeling of climate-change data requires a sufficiently general model selection approach to handle all these aspects. Machine learning with multipath block searches commencing from very general specifications, usually with more candidate explanatory variables than observations, to discover well-specified and undominated models of the nonstationary processes under analysis, offers a rigorous route to analyzing such complex data. To do so requires applying appropriate indicator saturation estimators (ISEs), a class that includes impulse indicators for outliers, step indicators for location shifts, multiplicative indicators for parameter changes, and trend indicators for trend breaks. All ISEs entail more candidate variables than observations, often by a large margin when implementing combinations, yet can detect the impacts of shifts and policy interventions to avoid nonconstant parameters in models, as well as improve forecasts. To characterize nonstationary observational data, one must handle all substantively relevant features jointly: A failure to do so leads to nonconstant and mis-specified models and hence incorrect theory evaluation and policy analyses.


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