Minority environmental activism in Britain: From brixton to the lake district

Historically, the British environmental movement has been devoid of minority participation, but this is changing very slowly, with the emergence of ethnic minority environmental groups and multiracial environmental alliances. These groups have argued that ethnic minorities have little or no access to public funds earmarked for countryside and wildlife preservation issues. They argue that white environmental organizations do not pay attention to the needs of inner-city minority residents and minority access to the countryside. Increased access, community improvement and beautification projects, environmental education, youth training, community garden projects, and issues of environmental racism are all foci of ethnic minority environmental movements. While some white environmentalists have been supportive of them, others have been uncomfortable with them or even hostile to their existence.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/43549/1/11133_2004_Article_BF00990102.pd

Why and How UK Firms Hedge

"This paper attempts to differentiate among the theories of hedging by using disclosures in the annual reports of 400 UK companies and data collected via a survey. I find, unlike many previous US studies, strong evidence linking the decision to hedge and the expected costs of financial distress. The tests show that this is mainly because my definition of hedging includes all hedgers and not just derivative users. However, when the tests employ the same hedging definition as previous US studies, financial distress cost factors still appear to be more important for this sample than samples of US firms. Therefore, a secondary explanation for the strong financial distress results might be due to differences in the bankruptcy codes in the two countries, which result in higher expected costs of financial distress for UK firms. The paper also examines the determinants of the choice of hedging method distinguishing between non-derivative and derivatives hedging. My evidence shows that larger firms, firms with more cash, firms with a greater probability of financial distress, firms with exports or imports and firms with more short-term debt are more likely to hedge with derivatives. Thus, differences in opportunities, in incentives for reducing risk and in the types of financial price exposure play an important role in how firms hedge their risks." Copyright Blackwell Publishers Ltd, 2006.