On the Frontiers of Finance: Scaling Up Investment in Sustainable Small and Medium Enterprises in Developing Countries

Outlines the economic, social, and environmental benefits of investing in sustainable small and medium enterprises; the lending practices of financial intermediaries; and barriers. Includes case summaries and recommendations for sectoral growth

Strategies for sustainable socio-economic development and mechanisms their implementation in the global dimension

The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches to developing and implementation strategies of sustainable socio-economic development in order to increase efficiency and competitiveness of economic entities. Basic research focuses on economic diagnostics of socio-economic potential and financial results of economic entities, transition period in the economy of individual countries and ensuring their competitiveness, assessment of educational processes and knowledge management. The research results have been implemented in the different models and strategies of supply and logistics management, development of non-profit organizations, competitiveness of tourism and transport, financing strategies for small and medium-sized enterprises, cross-border cooperation. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities on the basis of models and strategies for sustainable socio-economic development. The results can also be used by students and young scientists in modern concepts and mechanisms for management of sustainable socio-economic development of economic entities in the condition of global economic transformations and challenges

Adoption of "eco-advantage" by SMEs: emerging opportunities and constraints

Purpose: A recent study has asserted that businesses need to adopt “eco-advantage”. This paper aims to explore the viability of small and medium enterprises (SMEs) achieving “eco-advantage” by exploring their understanding of sustainability issues, how they adopt and innovate in terms of sustainability and the benefits and obstacles they face. Design/methodology/approach: The research approach is exploratory, comprised of 15 SME embedded cases based in the UK. The cases are participants in short interventions in sustainable product and process design as a part of a university knowledge transfer project, representing the overall case. Cases are based on interviews with company participants and collaborating academics, supplemented by documentary and observational evidence. Findings: The results build on the work on “eco-advantage” found in a recent study, highlighting marketing, rather than compliance issues as a catalyst for change. The newly aware SME enters a development process which involves cumulative capabilities, gaining a nascent inner confidence, which includes espousing wider sustainable values. Research limitations/implications: The results reveal the scope and challenges for SMEs to adopt more sustainable practices, encompassing innovations and a broad set of capabilities. Further research points to the need to monitor benefits as well as inputs in evaluating sustainability improvements and to consider longitudinal business sustainability issues. Originality/value: The paper informs the emerging debate on sustainability in SMEs, providing a rich source of data to enhance the provision of business support and knowledge transfer activities, where a more holistic and customised approach is required to realise the real environmental and economic benefits accrued from implementing sustainable improvements

SME application of LCA-based carbon footprints

Following a brief introduction about the need for businesses to respond to climate change, this paper considers the development of the phrase ‘carbon footprint’. Widely used definitions are considered before the authors offer their own interpretation of how the term should be used. The paper focuses on the contribution small and medium sized enterprises (SMEs) make to the economy and their level of influence in stimulating change within organisations. The experience of an outreach team from the Engineering Department of a UK university is used which draws on the experience of delivering regional economic growth projects funded principally through the European Regional Development Fund. Case studies are used including the development of bespoke carbon footprints for SMEs from an initiative delivered by the outreach team. Limitations of current carbon footprints are identified based on this higher education-industry knowledge exchange mechanism around three main themes of scope, the assessment method and conversion factors. Evidence and discussions are presented that conclude with the presentation of some solutions based on the work undertaken with SMEs and a discussion on the merits of the two principally used methodologies: life-cycle analysis and economic input–output assessment

Improved resource efficiency and cascading utilisation of renewable materials

In light of various environmental problems and challenges concerning resource allocation, the utilisation of renewable resources is increasingly important for the efficient use of raw materials. Therefore, cascading utilisation (i.e., the multiple material utilisations of renewable resources prior to their conversion into energy) and approaches that aim to further increase resource efficiency (e.g., the utilisation of by-products) can be considered guiding principles. This paper therefore introduces the Special Volume “Improved Resource Efficiency and Cascading Utilisation of Renewable Materials”. Because both research aspects, resource efficiency and cascading utilisation, belong to several disciplines, the Special Volume adopts an interdisciplinary perspective and presents 16 articles, which can be divided into four subjects: Innovative Materials based on Renewable Resources and their Impact on Sustainability and Resource Efficiency, Quantitative Models for the Integrated Optimisation of Production and Distribution in Networks for Renewable Resources, Information Technology-based Collaboration in Value Generating Networks for Renewable Resources, and Consumer Behaviour towards Eco-friendly Products. The interdisciplinary perspective allows a comprehensive overview of current research on resource efficiency, which is supplemented with 15 book reviews showing the extent to which textbooks of selected disciplines already refer to resource efficiency. This introductory article highlights the relevance of the four subjects, presents summaries of all papers, and discusses future research directions. The overall contribution of the Special Volume is that it bridges the resource efficiency research of selected disciplines and that it presents several approaches for more environmentally sound production and consumption

The influence of CEO characteristics on corporate environmental performance of SMEs: Evidence from Vietnamese SMEs

Drawing on upper echelon theory, this study investigates the impact of CEOs’ (chief executive officers) demographic characteristics on corporate environmental performance (CEP) in small and medium-sized enterprises (SMEs). We hypothesized that CEO characteristics, including gender, age, basic educational level, professional educational level, political connection, and ethnicity, affect SMEs’ environmental performance. Using the cross-sectional data analysis of 810 Vietnamese SMEs, this study provides evidence that female CEOs and CEOs’ educational level (both basic and professional) are positively related to the probability of CEP. We also find that based on the role of institutional environment on CEP, political connections had a negative effect on CEP in the context of Vietnam. Another finding is that SMEs with chief executives from ethnic minority groups show a higher level of the probability of corporate environmental performance than companies operated by Kinh chief executives. Since CEP is an essential dimension of corporate social responsibility, a strategic decision for SMEs, it is crucial for the company to select appropriate CEOs based on their demographic characteristic

The Bio-Economy Concept and Knowledge Base in a Public Goods and Farmer Perspective

Currently an industrial perspective dominates the EU policy framework for a European bio-economy. The Commission’s proposal on the bio-economy emphasises greater resource-efficiency, largely within an industrial perspective on global economic competitiveness, benefiting capital-intensive industries at higher levels of the value chain. However a responsible bio-economy must initially address the sustainable use of resources. Many farmers are not only commodity producers but also providers of quality food and managers of the eco-system. A public goods-oriented bio-economy emphasises agro-ecological methods, organic and low (external) input farming systems, ecosystem services, social innovation in multi-stakeholder collective practices and joint production of knowledge. The potential of farmers and SMEs to contribute to innovation must be fully recognised. This approach recognises the importance of local knowledge enhancing local capabilities, while also accommodating diversity and complexity. Therefore the bio-economy concept should have a much broader scope than the dominant one in European Commission innovation policy. Socio-economic research is needed to inform strategies, pathways and stakeholder cooperation towards sustainability goals

OECD reviews of higher education in regional and city development, State of Victoria, Australia

With more than 5.3 million inhabitants Victoria is the second most populous state in Australia. Once a manufacturing economy, Victoria is now transforming itself into a service and innovation-based economy. Currently, the largest sectors are education services and tourism. In terms of social structure, Victoria is characterised by a large migrant population, 24% of population were born overseas and 44% were either born overseas or have a parent who was born overseas. About 70% of the population resides in Melbourne. Victoria faces a number of challenges, ranging from an ageing population and skills shortages to drought and climate change and increased risk of natural disasters. Rapid population growth, 2% annually, has implications for service delivery and uneven development as well as regional disparities. There are barriers to connectivity in terms of transport and infrastructure, and a high degree of inter-institutional competition in tertiary education sector. The business structure in Victoria includes some highly innovative activities such as in biotechnology, but other sectors, especially those with high number of small and medium-sized enterprises, are lagging behind. Most of the larger manufacturing enterprises are externally controlled and there is uncertainty over the long term investments they will make in the state, as well as the place of Victoria in the global production networks