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This paper investigates whether a firm’s managerial ability affects the link between a firm’s cost of equity capital and corporate sustainability. We test our predictions by using a large U.S. sample of 17,389 firm-year observations. Our findings show that only when managerial ability is high, corporate sustainability significantly reduces a firm’s implied cost of equity capital. An important implication of our findings is that firms with high managerial abilities and limited sustainability commitment are encouraged to pursue or initiate more sustainability activities owing to their negative effect on a firm’s cost of equity capital.

Land degradation is recognized as one of the major threats to the buffer zones of protected areas (PAs) in Vietnam. In particular, the expansion of land degradation into the PAs is exerting pressure on biodiversity conservation efforts. This degradation is partially the result of mismanagement: the utilization of the land is often unmatched with the inherent suitability of the land. Identification of the spatial distribution of suitable areas for cropland is essential for sustainable land-use recommendation. This paper aims to delineate the areas suitable for cropland in the Tam Dao National Park (TDNP) region using a GIS-based multi-criteria evaluation of biophysical factors and Landsat ETM+ imagery. GIS is used to generate the factors, while MCE is used to aggregate them into a land suitability index. The results indicate the location and extent of crop farming areas at different suitability levels, i.e., most suitable (28.10%), moderately suitable (23.96%), marginally suitable (28.77%), and least suitable (19.17%). The current cropland covers 46.5% of the study area, while most and moderately suitable areas are estimated to be 52.06% of the territory. The results can be used to identify priority areas for crop farming and sustainable land-use management. The GIS-MCE approach provides an effective assessment tool for land-use managers working in protected areas of Vietnam.

In 2021, 56% of the global population lived in cities, and by 2050 the ratio of urban-to-rural population is expected to reach 67% [...]

Effective change order management is very important in maintaining the financial sustainability of various stakeholders related to construction projects by minimizing cost overruns. In this study, we propose a zero-cost risk management approach based on the collar option model in order to control for the loss caused by change orders, the main cause of cost overruns in construction projects. We apply this model to actual projects for empirical analysis. The analysis, based on 237 projects, indicates that insurance buyers benefit from the collar option model in 46% of the cases, while insurance sellers do so in 53% of the cases. In most cases, the insurance buyer is the owner. According to the model, the owner experiences a loss when the cost overrun caused by change orders is lower than what was expected. In such cases, it is appropriate to conclude that the loss is not caused by the collar option model, but by the absence of additional revenue. However, the insurance seller suffers a loss if the cost overrun is higher than the strike price of the call option. Thus, the insurance seller needs to have expertise in construction management.

We propose an ethical analysis as a method to reflect on how companies’ decisions promote sustainable development. The method proceeds by first identifying the choice according to financial business interests, and by then scrutinizing this choice according to consequentialist and deontological ethics. The paper applies the method to the choice of an Environmental Impact Assessment (EIA) that a consortium of Brazilian companies (EGASUR) delivered as part of their project proposal for the realization of the Inambari hydropower dam in the Peruvian Amazon. We show that if an EIA is chosen based on the attempt to maximize the financial bottom line, it raises ethical issues both from a consequentialist perspective by involving negative consequences for various stakeholder groups, and from a deontological perspective by not complying with relevant rules, guidelines, and principles. The two ethical perspectives hence reveal where the consortium faces impediments to a genuine commitment to sustainability. Building on stakeholder interviews, observations of the project developments, and the executive summary of the actual EIA, we provide indications that EGASUR has indeed made a choice that resembles a decision based on financial interests.

It has been suggested that parenting can be stressful for individuals with Type A personality because they have difficulties managing their own time. This study aimed to determine the relationship between mothers’ sense of time urgency (a Type A personality concept) and variables such as background characteristics, tiredness, and frequency of anger. The study participants were 103 mothers (mean age, 33.34 ± 4.38 years) of children aged 0–3 years, who used the child-rearing open space of a non-profit organization in Japan. A self-administered questionnaire survey assessed the participants’ demographic characteristics, feelings of tiredness, sense of time urgency, and anger in different parenting situations. Statistical analyses were performed using Kruskal–Wallis, Wilcoxon signed-rank, and linear regression analyses. The variable “sense of time urgency” was positively correlated with higher instability (feeling of tiredness; p = 0.00079), uneasiness (p < 0.001), eyestrain (p < 0.001), and anger, in several specific parenting situations. However, it was negatively correlated with sleep duration (p < 0.01). Our findings provide insight into the challenges faced by mothers with Type A personality traits, and may aid in the development of parenting guidance for these mothers.

The objective of this study is to map direct and indirect seasonal urban carbon emissions using spatial micro Big Data, regarding building and transportation energy-use activities in Sumida, Tokyo. Building emissions were estimated by considering the number of stories, composition of use (e.g., residence and retail), and other factors associated with individual buildings. Transportation emissions were estimated through dynamic transportation behaviour modelling, which was obtained using person-trip surveys. Spatial seasonal emissions were evaluated and visualized using three-dimensional (3D) mapping. The results suggest the usefulness of spatial micro Big Data for seasonal urban carbon emission mapping; a process which combines both the building and transportation sectors for the first time with 3D mapping, to detect emission hot spots and to support community-level carbon management in the future.

Soil salinity severely affects soil ecosystem quality and crop production in semi-arid and arid regions. A vast quantity of data on soil salinity has been collected by research organizations of the Commonwealth of Independent States (CIS, formerly USSR) and many other countries over the last 70 years, but using them in the current international network (irrigation and reclamation strategy) is complicated. This is because in the CIS countries salinity was expressed by total soluble salts as a percentage on a dry-weight basis (total soluble salts, TSS, %) and eight salinity types (chemistry) determined by the ratios of the anions and cations (Cl−, SO42−, HCO3−, and Na+, Ca2+, Mg2+) in diluted soil water extract (soil/water = 1:5) without assessing electrical conductivity (EC). Measuring the EC (1:5) is more convenient, yet EC is not only affected by the concentration but also characteristics of the ions and the salinity chemistry. The objective of this study was to examine the relationship between EC and TSS of soils in a diluted extract (1:5) for eight classic salinity types. We analyzed extracts (1:5) of 1100 samples of a clayey soil (0–20 cm) collected from cultivated semi-arid and arid regions for EC, TSS, soluble cations (Na+, Ca2+, Mg2+), and anions (HCO3−, Cl−, SO42−). Results revealed that (i) the variation in the proportional relationships (R2 ≥ 0.91–0.98) between EC (0.12–5.6 dS m−1) and TSS (0.05–2.5%) could be related to salinity type, and (ii) the proportionality coefficient of the relationships (2.2 2–3.16) decreased in the following order of salinity type: SO4 < Cl(SO4)–HCO3 < Cl(HCO3)–SO4 < SO4 (HCO3)–Cl < Cl. The findings suggest that once the salinity type of the soil is established, EC (1:5) values can be safely used for the evaluation of the soil salinity degree in the irrigated land in the context of sustainable soil and crop management.