Corporate Demand for Insurance: Empirical Evidence from Germany

Several studies have tested theoretical arguments for corporate insurance purchasing behaviour with mixed evidence. Additionally, there are rarely studies focussing on European markets even though these belong to the largest markets for commercial insurance and reinsurance. This paper presents the first empirical analysis on the property insurance demand in Germany using a dataset of 2160 companies. The analysis suggests that the demand for insurance is influenced by the firm’s size and its ownership structure. Additionally, higher premium payments lead to a lower demand for insurance whereas the number of insurance contracts is positively associated with the insurance demand. No clear evidence was found for the loss-ration or the number of losses. This study also sheds light on the importance of the supply side and the design of the insurance contract for the demand of insurance

Germany’s agri-biotechnology policy

In Germany, the precautionary principle (PP) is a well-established legal principle in environmental law, especially for regulating agribiotechnology. This article uses the analytical concept of issue-framing to identify different views of the PP and how they have informed changes in the German regulatory arena. In the 1990s Germany’s genetically modified (GM) crop policy was dominated by a discourse of innovation and international competitiveness, combined with narrow accounts of precaution. In the early 2000s, agro-biotechnology became subject to changes in the risk regulatory system, new agricultural policies and a broader precautionary scope. After the BSE crisis, German policy promoted sustainable agriculture and organic food, combined with the demand for a precautionary consumer policy and ‘consumer choice’. Precaution now encompasses comprehensive mandatory labelling and liability rules to protect non-GM food production from GM ‘contamination’ in fields and across the food chain

Towards sustainable market strategies: A case study on eco textiles and green power

This study focuses on the economic, market-related context of consumptionpatterns and incorporates the regulatory settings and values. The aim is tosystemise the influences on sustainable consumption patterns. Special attention isdrawn to the question how existing niche markets could be extended to massmarkets. This question is deepened by case studies on the green textile and thegreen power markets.The results emphasise the different key factors which influence the successfulpathways for an extended green market volume. Looking at the case of the greenpower market it can be seen how important it is to create an economic andinstitutional context for adoption. Looking at the case of green textiles theimportance of new lifestyles and cultural impacts are obvious.Looking at the interfaces between institutional settings, supply structure, societalvalues and consumers' decision-making, it can be seen that consumers' demandsare not only a product of individual needs. Therefore sustainable consumptionstrategies will have to face not only the change of needs, but also the change ofstructures which influence individual choices. -- Diese Studie konzentriert sich auf den ökonomischen, marktbezogenen Kontextnachhaltiger Konsummuster unter Berücksichtigung von staatlicher Regulierungund gesellschaftlichen Werten. Eine besondere Aufmerksamkeit wird der Fragegewidmet, wie bestehende Nischenmärkte erweitert werden können. Am Beispielder Märkte für umweltfreundliche Textilien und umweltfreundliche Energiewerden vertiefend die Erfolgsbedingungen für eine Markterweiterung untersucht.Als ein wichtiges Ergebnis kann festgehalten werden, dass unterschiedliche Einflussfaktoren für den Erfolg in den untersuchten Märkten verantwortlich sind.Das Wachstum der umweltfreundlichen Energiebereitstellung kann vor allem mitden veränderten Rahmenbedingungen erklärt werden, während das Marktsegment umweltfreundlicher Textilien vor allem durch Lebensstile und kulturelle Einflüssegeprägt wird.Betrachtet man die Schnittstellen zwischen institutionellem Rahmen, Angebotsstrukturen, gesellschaftlichem Wertewandel und den Entscheidungen der Konsumenten systematisch, so wird deutlich, dass Konsumentscheidungen nicht nur aufindividuellen Bedürfnissen beruhen. Von daher ist es für eine Strategie desnachhaltigen Konsums wichtig, nicht nur auf die Veränderung von Bedürfnissenzu zielen, sondern auch die Strukturen zu verändern, die individuelle Entscheidungen beeinflussen.

Interbasin Water Transfers and Water Scarcity in a Changing World: A Solution or a Pipedream?

The world is increasingly forced to face the challenge of how to ensure access to adequate water resources for expanding populations and economies, whilst maintaining healthy freshwater ecosystems and the vital services they provide. Now the growing impacts of climate change are exacerbating the problem of water scarcity in key regions of the world. One popular way for governments to distribute water more evenly across the landscape is to transfer it from areas with perceived surpluses, to those with shortages.While there is a long history of water transfers from ancient times, as many societies reach the limits of locally renewable water supplies increasingly large quantities of water are being moved over long distances, from one river basin to another. Since the beginning of dam building that marked the last half of the 1900s more that 364 large-scale interbasin water transfer schemes (IBTs) have been established that transfer around 400 km³ of water per year (Shiklomanov 1999). IBTs are now widely touted as the quick fix solution to meeting escalating water demands. One estimate suggests that the total number of largescale water transfer schemes may rise to between 760 and 1 240 by 2020 to transfer up to 800 km³ of water per year (Shiklomanov 1999).The wide range of IBT projects in place, or proposed, has provoked the preparation of this review, including seven case studies from around the globe. It builds on previous assessments and examines the costs and benefits of large scale IBTs. This report assesses related, emerging issues in sustaining water resources and ecosystems, namely the virtual water trade, expanding use of desalination, and climate change adaptation. It is based on WWF's 2007 publication "Pipedreams? Interbasin water transfers and water shortages".The report concludes that while IBTs can potentially solve water supply issues in regions of water shortage - they come with significant costs. Large scale IBTs are typically very high cost, and thus economically risky, and they usually also come with significant social and environmental costs; usually for both the river basin providing and the river basin receiving the water

Migration, Mobility and Human Rights at the Eastern Border of the European Union - Space of Freedom and Security

This edited collection of migration papers would like to emphasise the acute need for migration related study and research in Romania. At this time, migration and mobility are studied as minor subjects in Economics, Sociology, Political Sciences and European Studies only (mostly at post-graduate level). We consider that Romanian universities need more ‘migration studies’, while research should cover migration as a whole, migration and mobility being analysed from different points of view – social, economical, legal etc. Romania is part of the European Migration Space not only as a source of labourers for the European labour market, but also as source of quality research for the European scientific arena. Even a country located at the eastern border of the European Union, we consider Romania as part of the European area of freedom, security and justice, and therefore interested in solving correctly all challenges incurred by the complex phenomena of migration and workers’ mobility at the European level. The waves of illegal immigrants arriving continuously on the Spanish, Italian and Maltese shores, and the workers’ flows from the new Member States from Central and Eastern Europe following the 2004 accession, forced the EU officials and the whole Europe to open the debate on the economical and mostly social consequences of labour mobility. This study volume is our contribution to this important scientific debate. Starting with the spring of 2005, the Jean Monnet European Centre of Excellence and the School of High Comparative European Studies (SISEC), both within the West University of Timisoara, have proposed a series of events in order to raise the awareness of the Romanian scientific environment on this very sensitive issues: migration and mobility in the widen European Space. An annual international event to celebrate 9 May - The Europe Day was already a tradition for SISEC (an academic formula launched back in 1995 in order to prepare national experts in European affairs, offering academic post-graduate degrees in High European Studies). With the financial support from the Jean Monnet Programme (DG Education and Culture, European Commission), a first migration panel was organised in the framework of the international colloquium ‘Romania and the European Union in 2007’ held in Timisoara between 6 and 7 of May 2005 (panel Migration, Asylum and Human Rights at the Eastern Border of the European Union). Having in mind the positive welcoming of the migration related subjects during the 2005 colloquium, a second event was organised on 5 May 2006 in the framework of the European Year of Workers’ Mobility: the international colloquium Migration and Mobility: Assets and Challenges for the Enlargement of the European Union. In the same period, the Jean Monnet European Centre of Excellence, SISEC and The British Council in Bucharest have jointly edited two special issues of The Romanian Journal of European Studies, no.4/2005 and 5-6/2006, both dedicated to migration and mobility. Preliminary versions of many of the chapters of this volume were presented at the above mentioned international events. The papers were chosen according to their scientific quality, after an anonymously peer-review selection. The authors debate both theoretical issues and practical results of their research. They are renowned experts at international level, members of the academia, PhD students or experienced practitioners involved in the management of the migration flows at the governmental level. This volume was financed by the Jean Monnet Programme of the Directorate General Education and Culture, European Commission, throughout the Jean Monnet European Centre of Excellence (C03/0110) within the West University of Timisoara, Romania, and is dedicated to the European Year of Workers’ Mobility 2006. Timisoara, December 200

The convergence of financial systems in Europe

Since the beginning of the 1990s, it has been widely expected that the implementation of the European Single Market would lead to a rapid convergence of Europe’s financial systems. In the present paper we will show that at least in the period prior to the introduction of the common currency this expected convergence did not materialise. Our empirical studies on the significance of various institutions within the financial sectors, on the financing patterns of firms in various countries and on the predominant mechanisms of corporate governance, which are summarised and placed in a broader context in this paper, point to few, if any, signs of a convergence at a fundamental or structural level between the German, British and French financial systems. The German financial system continues to appear to be bank-dominated, while the British system still appears to be capital market-dominated. During the period covered by the research, i.e. 1980 – 1998, the French system underwent the most far-reaching changes, and today it is difficult to classify. In our opinion, these findings can be attributed to the effects of strong path dependencies, which are in turn an outgrowth of relationships of complementarity between the individual system components. Projecting what we have observed into the future, the results of our research indicate that one of two alternative paths of development is most likely to materialise: either the differences between the national financial systems will persist, or – possibly as a result of systemic crises – one financial system type will become the dominant model internationally. And if this second path emerges, the Anglo-American, capital market-dominated system could turn out to be the “winner”, because it is better able to withstand and weather crises, but not necessarily because it is more efficient

Dueling for honor and identity economics

Dueling is one of the best indicators of political transition from anarchy to order. This paper explores the dynamics of dueling for honor as a social institution in England, France, and Germany. It identifies major differences regarding the frequency, duration, and nature of dueling. Although dueling for honor emerged as a self-organizing and self-regulatory collective action of the aristocracy in crisis, it transformed into a middle class institution in France and Germany. However, this institution suddenly ended in England around 1850. In this study, we will follow a cognitive version of identity economics to explain the emergence of this institution, and its divergent trajectories in these countries in terms of identity choice. We will argue that while dueling is an identity investment, it might have different values according to its diverse social meanings. We will show that different social meanings that were attached to dueling in England, France and Germany gave rise to different values in identity investment, and led to different results in enhancing social identities