Is It Possible to Monetarily Quantify the Emotional Value Transferred by Companies and Organizations? An Emotional Accounting Proposal

Social accounting focuses on value transactions between organizations and their stakeholders; both market ones, where the value perceived by the different stakeholders is identified, and non-markets ones, where transactions are monetized at their fair value. There was long awareness of an emotional value translation, linked to the transfer of different products, services, remunerations, and incentives, regardless of whether they were market or non-market. Yet that emotional value seemed to be anchored in the field of psychology and managed to elude economic science. This study seeks to identify emotional value with consumer surplus and, by extension, of the other stakeholders in a value transfer process. This proposal allows the emotional value to be anchored in the micro-economy and allows it to be objectively calculated using a regression involving three elements: the market price, the fair value interval, and a perceived satisfaction score by the different stakeholders in the form of significant sampling. The result obtained not only allows Social Accounting to be complemented with emotional value, but it also facilitates its incorporation in the strategy to optimize the emotional value. Furthermore, it enables a quantification of the perceived subjective utility, which opens up a research path where some possible lines are clearly identified.

Analyzing informal value transfer networks through the lens of social exchanges

Purpose This study aims to focus on how informal value transfer networks, Hawala business in particular, used social exchanges in their business dealings. More specifically, the conducted research looked into how social exchange theory was used in Hawala business relationship initiation and management. Design/methodology/approach Twenty-one depth interviews were conducted with Hawala Network members, and Hawala customers, in Qatar, Saudi Arabia and Pakistan. The collected qualitative data were analyzed through content analysis and NVivo 11 software. Findings The study outcome indicated that Social Exchange Theory was a principal relationship driver in Hawala Networks. Especially, trust had a pivotal role in evolvement and nurturing of Hawala Network business and social exchanges. Other relationship variables, namely, reciprocity, religious affiliation, reputation and information sharing had a significant part in relationship building as well. Results supported a prominent influence of time in carefully controlled and rigorously assessed transformation of Hawala relationships. This metamorphosis converted an exchange from short-term into a long-term orientation where limited amount transactions changed into large sum transactions and restricted information exchange moved to elaborate information sharing. In addition, findings revealed that monetary and non-monetary interactions between Hawala Network members took the form of a homogeneous club, with shared social, cultural, religious and ethnic values. In particular, financially constrained and illiterate social groups preferred Hawala services due to ease of servicing in the form of minimal bureaucracy, fast transfers and low service charges. These marginalized fractions of society had limited access to formal banking which made Hawala business their main (and in most cases only) source for sending and receiving financial remittances. Hawala Networks provided an effective alternative to formal banking for disadvantaged communities. Originality/value This study provided unique and useful insights into the nature of social exchanges within Hawala Networks. Especially, it provided clarification on how informal networked businesses used Social Exchange Theory to by-pass the need for legal protection and formal contracts. Furthermore, the study highlighted the role Hawala business played in providing essential banking services (e.g. transfer of money and micro-lending) to educationally and economically deprived individuals.

Economic mapping and assessment of Cymodocea nodosa meadows as nursery grounds for commercially important fish species. A case study in the Canary Islands

Cymodocea nodosa seagrass meadows provide several socio-economically ecosystem services, including nurseries for numerous species of commercial interest. These seagrasses are experiencing a worldwide decline, with global loss rates approaching 5% per year, mainly related to coastal human activities. Cymodocea nodosa, the predominant seagrass in the Canary Archipelago (Spain), is also exposed to these threats, which could lead to habitat loss or even local disappearance. In this case study, we estimated the potential economic value of Cymodocea nodosa seagrass meadows for local fisheries at an archipelago scale. Habitat suitability maps were constructed using MAXENT 3.4.1, a software for modelling species distributions by applying a maximum entropy machine-learning method, from a set of environmental variables and presence and background records extracted from historical cartographies. This model allows characterising and assessing the C. nodosa habitat suitability, overcoming the implicit complexity derived from seasonal changes in this species highly dynamic meadows and using it as a first step for the mapping and assessment of ecosystem services. In a second step, value transfer methodologies were used, along with published economic valuations of commercially-interesting fish species related to C. nodosa meadows. We estimate that the potential monetary value of these species can add up to more than 3 million euros per year for the entire Archipelago. The simplicity of the proposed methodology facilitates its repeatability in other similar regions, using freely available data and hence, being suitable for data-scarce scenarios.

An Overview of a Blockchain Application in Education Using Hyperledger Project

During the last years, blockchain has been getting interest by both academic and professional researchers. This is primarily due to the innovative techniques in which records are effectively stored in a distributed manner. Started as a value transfer mechanism, blockchain now has several applications in a vast array of fields including healthcare, banking, and Internet of Things (IoTs). Despite the considerable amount of interest given to these fields, little is known about the possible applications of blockchain in education. Because of COVID-19 outbreak and the rise in the need of online and automated solutions in academia, this paper proposes an overview of a blockchain solution in education. This technology relies on the unique features it offers, such as decentralization, data integrity, and security. The presented solution aims to reduce the paperwork needed to perform tasks, secure the stored data, increase transparency, as well as to offer new recruitment possibilities and statistics capabilities to the current educational system.

Book review: Zak Cope, The Wealth of (Some) Nations—Imperialism and the Mechanics of Value Transfer

Zak Cope, The Wealth of (Some) Nations—Imperialism and the Mechanics of Value Transfer (London: Pluto Press), 2019, 260 pp., £19.99 (Pb).

P229 Standardization of Quantum Blue® rapid TDM assays with WHO international standards for adalimumab and infliximab

Background Therapeutic drug monitoring of inflammatory bowel disease (IBD) patients under anti-TNF therapy is based on trough level determination of the drug. Rapid assays and multiple ELISAs are available that measure anti-TNF biologics. An international standard is required to improve comparability among different assays. Recently, WHO introduced anti-TNF standards for adalimumab (ADL) and infliximab (IFX). A WHO international reference material (IRM) based standardization is crucial for the harmonization of assays available on the market. Methods The aim of the study was to standardize the BÜHLMANN Quantum Blue® ADL and BÜHLMANN Quantum Blue® IFX based on the WHO IRM for ADL and IFX, respectively. A value transfer from the WHO reference material to the internal calibrator sets for both assays was based on a protocol previously described by Blirup-Jensen et al. (Clin Chem Lab Med 2001; 39(11):1110–1122) and by means of a commercially available ELISA. A method comparison of the ELISA and the rapid test was carried out before the value transfer to guarantee comparability of both assays. Additionally, the correlation of the WHO IRM with the currently used calibrator material was determined for ADL. The correlation of the WHO IFX standard (NIBSC 16/170) with the currently used calibrator material was presented recently (Keller et al. 2020, UEGW 2020). Calibration curves were generated with BÜHLMANN ADL calibrators and with calibrators made from WHO IRM for ADL (NIBSC 17/236). Serum samples, covering a concentration range from 1.0 to 35 µg/mL, were analysed with both calibration curves and compared by Bland-Altman and Passing-Bablok analysis. Results A preliminary value transfer study revealed an relative uncertainty of 12.3% for both drugs. A good comparison of the ADL and IFX rapid test and the ELISA is given: Passing-Bablok correlation coefficient (R) of 0.953 (ADL) and 0.942 (IFX), and a mean bias determined by Bland-Altman of 1.59 µg/mL (ADL) and -0.5 µg/mL (IFX), respectively. The sample values gained with BÜHLMANN calibrators showed an excellent correlation with values gained with the WHO international standard for ADL as calibrator. Passing-Bablok regression analysis revealed a slope of 1.3 and correlation coefficient (R) of 1.0. Conclusion To the best of our knowledge, the Quantum Blue® ADL and Quantum Blue® IFX, are the first commercially available quantitative lateral flow assays comprising a WHO based standardization. Additionally, it was demonstrated that the current standardizations of Quantum Blue® ADL correlates very well with the WHO international standard for ADL.

Case study of property value transfer attributed to transit: spatial and temporal hedonic price impact of light rail in Minnesota’s Twin Cities

Does the proximity of transit increase property values, and can one example apply to another? Using a spatial and temporal hedonic price framework, a study of light rail transit’s impact on residential property values compares the station area property impacts of the Green and Blue lines in Saint Paul and Minneapolis. The study also points to when “value transfer” (used here to describe the comparison and application of property value impacts near transit) is appropriate, and what practitioners should keep in mind to maximize the effectiveness of the exercise. In the case of value transfer for transit, the study finds that intimate local knowledge matters more than special modeling specifications to appropriately capture the impacted properties and transfer the return of investment.

Adjusted Unit Value Transfer as a Tool for Raising Awareness on Ecosystem Services Provided by Constructed Wetlands for Water Pollution Control: An Italian Case Study

Constructed wetlands (CWs) are nature-based solutions (NBS) for water pollution control that can also be designed to be multipurpose in terms of additional ecosystem services (ESs), such as biodiversity support and social benefits. Awareness about additional ESs of CWs can be raised with value transfer (VT) methods for ESs monetization, in particular, the simplified adjusted unit VT method. A multi-criteria analysis (MCA) was performed to compare grey and green infrastructure alternatives for the management of a combined sewer overflow in the Buccinasco town (Italy), in which the criteria related to ESs were monetized with an adjusted VT method (B£ST software). The results highlighted the potential interest in the implementation of the green infrastructure in a new urban park, due to the activation of additional ESs of interest, such as health and recreational aspects. The results were also confirmed by a sensitivity analysis, which simulated the variation of preferences among different stakeholder groups (e.g., citizens, environmentalists). In conclusion, this work provided a transparent methodology to support decisions regarding green and grey infrastructure, allowing to evaluate additional ESs from the beginning of the decision stage with low cost and efforts.

Teacher's Strategy in Integrating Character Values in Ma'had Tahfidz Quran Al-Uswah Village, Kuala Langkat District

The implementation of character education in Ma'had which is full of noble values in its existence has succeeded in shaping the attitudes and behavior of santriwan and santriwati which are expected to have good character, through the application of a distinctive teacher strategy capable of realizing religious human resources. Ma'had Tahfidz Kampung Qur'an is a non-formal institution that pays attention to strengthening character education, especially religious values, honesty, discipline, and hard work. It is hoped that this value will become an icon that can become a foothold for value transfer so that the vision and mission which is expected to be able to create religious human resources and always interact with the Koran towards the person of Insan Kamil. This research uses qualitative research with a phenomenological approach and descriptive methods. Data collected through observation, interviews, and document study. Data analysis techniques by means of data reduction, data presentation, examination of conclusions and verification. The results of this study are (1) the teacher's strategy in integrating character values for students and students in ma'had (2) the impact of character values for students and students in ma'had through religious, honesty, discipline, and working, (3) Supporting factors and inhibiting Character values for santriwan and santriwati through religion, honesty, discipline, and hard work.