The Relationship Between DEA Model-based Eco-Efficiency and Economic Performance (DEA 모형 기반의 에코효율성과 경제적 성과의 연관성)
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- Journal of Environmental Policy
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- v.13 no.4
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- pp.3-49
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- 2014
Growing interest of stakeholders on corporate responsibilities for environment and tightening environmental regulations are highlighting the importance of environmental management more than ever. However, companies' awareness of the importance of environment is still falling behind, and related academic works have not shown consistent conclusions on the relationship between environmental performance and economic performance. One of the reasons is different ways of measuring these two performances. The evaluation scope of economic performance is relatively narrow and the performance can be measured by a unified unit such as price, while the scope of environmental performance is diverse and a wide range of units are used for measuring environmental performances instead of using a single unified unit. Therefore, the results of works can be different depending on the performance indicators selected. In order to resolve this problem, generalized and standardized performance indicators should be developed. In particular, the performance indicators should be able to cover the concepts of both environmental and economic performances because the recent idea of environmental management has expanded to encompass the concept of sustainability. Another reason is that most of the current researches tend to focus on the motive of environmental investments and environmental performance, and do not offer a guideline for an effective implementation strategy for environmental management. For example, a process improvement strategy or a market discrimination strategy can be deployed through comparing the environment competitiveness among the companies in the same or similar industries, so that a virtuous cyclical relationship between environmental and economic performances can be secured. A novel method for measuring eco-efficiency by utilizing Data Envelopment Analysis (DEA), which is able to combine multiple environmental and economic performances, is proposed in this report. Based on the eco-efficiencies, the environmental competitiveness is analyzed and the optimal combination of inputs and outputs are recommended for improving the eco-efficiencies of inefficient firms. Furthermore, the panel analysis is applied to the causal relationship between eco-efficiency and economic performance, and the pooled regression model is used to investigate the relationship between eco-efficiency and economic performance. The four-year eco-efficiencies between 2010 and 2013 of 23 companies are obtained from the DEA analysis; a comparison of efficiencies among 23 companies is carried out in terms of technical efficiency(TE), pure technical efficiency(PTE) and scale efficiency(SE), and then a set of recommendations for optimal combination of inputs and outputs are suggested for the inefficient companies. Furthermore, the experimental results with the panel analysis have demonstrated the causality from eco-efficiency to economic performance. The results of the pooled regression have shown that eco-efficiency positively affect financial perform ances(ROA and ROS) of the companies, as well as firm values(Tobin Q, stock price, and stock returns). This report proposes a novel approach for generating standardized performance indicators obtained from multiple environmental and economic performances, so that it is able to enhance the generality of relevant researches and provide a deep insight into the sustainability of environmental management. Furthermore, using efficiency indicators obtained from the DEA model, the cause of change in eco-efficiency can be investigated and an effective strategy for environmental management can be suggested. Finally, this report can be a motive for environmental management by providing empirical evidence that environmental investments can improve economic performance.
Regulation (EC) No 261/2004 of the European Parliament and of the Council of 11 February 2004 establishing common rules on compensation of assistance to passengers in the event of denied boarding and of cancellation or long delay of flights (Regulation No 261/2004) provides extra protection to air passengers in circumstances of denied boarding, cancellation and long-delay. The Regulation intends to provide a high level of protection to air passengers by imposing obligations on air carriers and, at the same time, offering extensive rights to air passengers. If denied boarding, cancellation and long-delay are caused by reasons other than extraordinary circumstances, passengers are entitled for compensation under Article 7 of Regulation No 261/2004. In Wallentin-Hermann v Alitalia-Linee Aeree Italiane SpA(Case C-549/07, [2008] ECR I-11061), the Court did, however, emphasize that this does not mean that it is never possible for technical problems to constitute extraordinary circumstances. It cited specific examples of where: an aircraft manufacturer or competent authority revealed that there was a hidden manufacturing defect on an aircraft which impacts on safety; or damage was caused to an aircraft as a result of an act of sabotage or terrorism. Such events are not inherent in the normal exercise of the activity of the air carrier concerned and is beyond the actual control of that carrier on account of its nature or origin. One further point arising out of the court's decision is worth mentioning. It is not just necessary to satisfy the extraordinary circumstances test for the airline to be excused from paying compensation. It must also show that the circumstances could not have been avoided even if all reasonable measures had been taken. It is clear from the language of the Court's decision that this is a tough test to meet: the airline will have to establish that, even if it had deployed all its resources in terms of staff or equipment and the financial means at its disposal, it would clearly not have been able - unless it had made intolerable sacrifices in the light of the capacities of its undertaking at the relevant time - to prevent the extraordinary circumstances with which it was confronted from leading to the cancellation of the flight.
In 2009 Iridium 33, a satellite owned by the American Iridium Communications Inc. and Kosmos-2251, a satellite owned by the Russian Space Forces, collided at a speed of 42,120 km/h and an altitude of 789 kilometers above the Taymyr Peninsula in Siberia. NASA estimated that the satellite collision had created approximately 1,000 pieces of debris larger than 10 centimeters, in addition to many smaller ones. By July 2011, the U.S. Space Surveillance Network(SSN) had catalogued over 2,000 large debris fragments. On January 11, 2007 China conducted a test on its anti-satellite missile. A Chinese weather satellite, the FY-1C polar orbit satellite, was destroyed by the missile that was launched using a multistage solid-fuel. The test was unprecedented for having created a record amount of debris. At least 2,317 pieces of trackable size (i.e. of golf ball size or larger) and an estimated 150,000 particles were generated as a result. As far as the Space Treaties such as 1967 Outer Space Treaty, 1968 Rescue Agreement, 1972 Liability Convention, 1975 Registration Convention and 1979 Moon Agreement are concerned, few provisions addressing the space environment and debris in space can be found. In the early years of space exploration dating back to the late 1950s, the focus of international law was on the establishment of a basic set of rules on the activities undertaken by various states in outer space.. Consequently environmental issues, including those of space debris, did not receive the priority they deserve when international space law was originally drafted. As shown in the case of the 1978 "Cosmos 954 Incident" between Canada and USSR, the two parties settled it by the memorandum between two nations not by the Space Treaties to which they are parties. In 1994 the 66th conference of International Law Association(ILA) adopted "International Instrument on the Protection of the Environment from Damage Caused by Space Debris". The Inter-Agency Space Debris Coordination Committee(IADC) issued some guidelines for the space debris which were the basis of "the UN Space Debris Mitigation Guidelines" which had been approved by the Committee on the Peaceful Uses of Outer Space(COPUOS) in its 527th meeting. On December 21 2007 this guideline was approved by UNGA Resolution 62/217. The EU has proposed an "International Code of Conduct for Outer Space Activities" as a transparency and confidence-building measure. It was only in 2010 that the Scientific and Technical Subcommittee began considering as an agenda item the long-term sustainability of outer space. A Working Group on the Long-term Sustainability of Outer Space Activities was established, the objectives of which include identifying areas of concern for the long-term sustainability of outer space activities, proposing measures that could enhance sustainability, and producing voluntary guidelines to reduce risks to long-term sustainability. By this effort "Guidelines on the Long-term Sustainability of Outer Space Activities" are being under consideration. In the case of "Declaration of Legal Principles Governing the Activities of States in the Exp1oration and Use of Outer Space" adopted by UNGA Resolution 1962(XVIII), December 13 1963, the 9 principles proclaimed in that Declaration, although all of them incorporated in the Space Treaties, could be regarded as customary international law binding all states considering the time and opinio juris by the responses of the world. Although the soft law such as resolutions, guidelines are not binding law, there are some provisions which have a fundamentally norm-creating character and customary international law. In November 12 1974 UN General Assembly recalled through a Resolution 3232(XXIX) "Review of the role of International Court of Justice" that the development of international law may be reflected, inter alia, by the declarations and resolutions of the General Assembly which may to that extend be taken into consideration by the judgements of the International Court of Justice. We are expecting COPUOS which gave birth 5 Space Treaties that it could give us binding space debris mitigation measures to be implemented based on space debris mitigation soft law in the near future.
From January 2020 to October 2021, more than 500,000 academic studies related to COVID-19 (Coronavirus-2, a fatal respiratory syndrome) have been published. The rapid increase in the number of papers related to COVID-19 is putting time and technical constraints on healthcare professionals and policy makers to quickly find important research. Therefore, in this study, we propose a method of extracting useful information from text data of extensive literature using LDA and Word2vec algorithm. Papers related to keywords to be searched were extracted from papers related to COVID-19, and detailed topics were identified. The data used the CORD-19 data set on Kaggle, a free academic resource prepared by major research groups and the White House to respond to the COVID-19 pandemic, updated weekly. The research methods are divided into two main categories. First, 41,062 articles were collected through data filtering and pre-processing of the abstracts of 47,110 academic papers including full text. For this purpose, the number of publications related to COVID-19 by year was analyzed through exploratory data analysis using a Python program, and the top 10 journals under active research were identified. LDA and Word2vec algorithm were used to derive research topics related to COVID-19, and after analyzing related words, similarity was measured. Second, papers containing 'vaccine' and 'treatment' were extracted from among the topics derived from all papers, and a total of 4,555 papers related to 'vaccine' and 5,971 papers related to 'treatment' were extracted. did For each collected paper, detailed topics were analyzed using LDA and Word2vec algorithms, and a clustering method through PCA dimension reduction was applied to visualize groups of papers with similar themes using the t-SNE algorithm. A noteworthy point from the results of this study is that the topics that were not derived from the topics derived for all papers being researched in relation to COVID-19 (