infonet-economy

Empirical research shows that European governments and retailers are unlikely to be directly punished by taxpayers and consumers if they move away from their anti-GMO positions and policies. However, it is ultimately not the weak attitudes of taxpayers and consumers that matter to governments and retailers but the strong attitudes of the noisy anti-biotech movement.

Seit der ersten kommerziellen Einführung einer Gentechpflanze im Jahre 1996 ist einiges passiert, sowohl in den Medien wie auch auf dem Feld. Mittlerweile werden gentechnisch veränderte Nutzpflanzen weltweit von 17,3 Mio. Bauern auf einer Fläche von 170 Mio. Hektaren angebaut. 90 % dieser Bauern sind Kleinbauern in Indien und anderen Entwicklungsländern, die insbesondere von der…

The ongoing empirical debate about whether SRI is associated, if anything, with subpar or surpassing financial performance is characterized by a somewhat indistinct focus and the infeasibility of tapping the full potential of existing models. By indistinct focus, we mean an analysis based on an aggregation of a myriad of SRI factors that potentially affect a firm’s financial…

This paper identifies the relative contribution of sustainability criteria to property value risk. We use a discounted cash flow (DCF) model to assess the effect of a given set of 42 sustainability sub-indicators on property value. The anticipated demand for each sustainability sub-indicator is described by four future states of nature. Their impact on costs and/or revenue is…

Bei Investitionsentscheidungen ist nicht nur die Rendite von Interesse, sondern auch das Risiko. Dies gilt bei Aktien- genauso wie bei Immobilienanlagen. Die Diskussion um Nachhaltigkeit ist u.a. geprägt vom Wunsch, Gutes zu tun. Aus Sicht von Unternehmen spielt dies im Zusammenhang mit Corporate Social Responsiblity eine wichtige Rolle. Aus Investitionssicht steht allerdings die…

This paper discusses the “regulatory license” view that reliance by regulators on the output of rating agencies in the 1930s “caused” the agencies to become a central part of the fabric of the US financial system. Exploring pre-1930 court records, we find evidence of a growing reliance on the agencies that pre-dates the regulatory moves of the 1930s. We argue that courts began using…

This paper surveys the recent literature on the links between public debt and economic growth in advanced economies. We find that theoretical models yield ambiguous results. Whether high levels of public debt have a negative effect on long-run growth is thus an empirical question. While many papers have found a negative correlation between debt and growth, our reading of the…