1,720,959 research outputs found
Circular economy and default risk
Full text linkBy decoupling economic growth from the exploitation of virgin raw materials and environmental
degradation, as well as by developing practices more resilient to the economic cycle,
Circular Economy (CE) o®ers e®ective hedging of linear risks and shields from the risk of
stranded values. We tested this hypothesis focusing on default risk of a sample of 222 European
circular issuers focused on manufacturing, construction, energy, metal and oil and gas industries.
The time period considered is 2013–2018. The main explanatory variable is the Circularity
Score, a brand-new indicator based on material variables pertinent to CE. Default risk is
measured on PD values, corresponding to external rating classes, provided by Bloomberg. We
found that issuers with a higher level of circularity con ̄rm de-risking hypothesis at both short
and long terms. Moreover, the contribution o®ered by circularity on de-risking is more relevant
in the long-term analysis, ranking as third in relation to fourth in the short-term model
The impact of circular economy on public equity in Europe
No full textCircular Economy offers effective hedging of linear risks, shields financial actors from the risk of stranded values and promises to ensure persistent performance of businesses and portfolios without compromising financial returns. We tested these hypotheses of de-risking and superior risk-return combinations building a sample of 222 European circular shares focused on manufacturing, construction, utility and materials industries for the period 2013-2018. We found that securities that score a higher level of circularity confirm both hypothesis, nonetheless as considered standalone or included in the fully diversified portfolio. This research provides the first evidence of the positive relation amongst the degree of circularity on one side with equity de-risking and superior risk-adjusted performance on the other one. Moreover, we applied a brand new materiality based measure that allows quantifying the degree of circularity for a public stock
ROLE OF INTER-FIRM NETWORKS AND RELATIONSHIPS IN THE ADOPTION AND DIFFUSION OF ECO-INNOVATIONS TO ACCELERATE THE CIRCULAR ECONOMY TRANSITION
Full text linkSustaining the world’s growing population requires higher levels of consumption of natural resources, resulting in increasing negative impacts on society and the environment. In order to remain within the limits of the planet’s capacity to provide resources while ensuring a strong social foundation for society, it is essential to shift towards a circular economy, a holistic and systemic approach to utilize resources more efficiently and sustainably. Transitioning to a circular economy requires the development and widespread adoption of disruptive eco-innovations by firms and their supply chains, which redesign societal behaviors, introduce new business models, and create technological and institutional changes that can transform existing production systems. However, the most pressing barriers that prevent the shift towards a more circular economy and hinder transformative eco-innovations are social and cultural, and there is a need to better understand these dynamics. This thesis proposes an economic sociology perspective to examine these dynamics by highlighting the importance of embedded social and cultural factors within networks and relationships to explain economic behaviors. The overall aim is to investigate the role of embedded social and cultural dynamics within inter-firm networks and relationships in the adoption and diffusion of disruptive eco-innovations that accelerate the circular economy transition. The dissertation is composed of three chapters: first, a review of the literature to explore the various types of inter-firm networks and relationships and how they affect eco-innovation adoption and diffusion; second, a historical case study of Jaguar Land Rover’s REALCAR closed-loop recycling initiative to understand how embedded relationships within inter-firm networks influenced circular economy eco-innovation adoption; and third, an agent-based model to analyze the mechanisms and targeting strategies that could enable faster adoption and diffusion of eco-innovations through inter-firm networks. The outcomes of this research highlight the critical role that embedded networks and relationships between firms play in the circular economy transition, and how they can be leveraged by decision-makers to overcome the key social and cultural barriers and more quickly shift to a circular economy
Stock-Driven, Trade-Linked, Multi-Regional Model of the Global Aluminium Cycle
No full textFuture consumption and use of aluminium is expected to continue to increase significantly. However, due to the heavily inter-connected and complex global aluminium system, there is a need to better understand how increases in aluminium consumption and demand will impact the future flows within the global aluminium cycle. This study aims to analyse the historical flows and in-use stock of aluminium within each region to create a stock-driven, trade-linked, multi-regional model that can forecast global aluminium flows to 2050 through various scenarios. The end goal of this research effort is to provide the aluminium industry with a robust tool that provides insights into long-term business strategies given various possibilities for how the global aluminium cycle could evolve in the future
Stock-Driven, Trade-Linked, Multi-Regional Model of the Global Aluminium Cycle
Full text linkFuture consumption and use of aluminium is expected to continue to increase significantly. However, due to the heavily inter-connected and complex global aluminium system, there is a need to better understand how increases in aluminium consumption and demand will impact the future flows within the global aluminium cycle. This study aims to analyse the historical flows and in-use stock of aluminium within each region to create a stock-driven, trade-linked, multi-regional model that can forecast global aluminium flows to 2050 through various scenarios. The end goal of this research effort is to provide the aluminium industry with a robust tool that provides insights into long-term business strategies given various possibilities for how the global aluminium cycle could evolve in the future
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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